EX-4.1 3 v074640_4-1.htm Unassociated Document


 
IMPAC SECURED ASSETS CORP.,
Depositor,

 

IMPAC FUNDING CORPORATION
Master Servicer,


and
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY
Trustee
 
POOLING AND SERVICING AGREEMENT
 
Dated as of April 1, 2007
 
________________________
 
Mortgage Pass-Through Certificates
 
Series 2007-3
 






TABLE OF CONTENTS
 
Page
ARTICLE I
DEFINITIONS
8
Section 1.01.
Defined Terms.
8
Accrual Period
8
Addition Notice
8
Adjustment Date
8
Advance
8
Affected Party
8
Affiliate
8
Aggregate Stated Principal Balance
8
Agreement
9
Allocated Realized Loss Amount
9
Assessment of Compliance
9
Assignment
9
Attestation Report
9
Available Distribution Amount
9
Balloon Loan
9
Balloon Payment
9
Bankruptcy Code
10
Basic Principal Distribution Amount
10
Book-Entry Certificate
10
Business Day
10
Cap Contract I
10
Cap Contract II
10
Cap Contracts
10
Cap Counterparty
10
Cash Liquidation
10
Certificate
10
Certificate Account
10
Certificate Account Deposit Date
11
Certificate Guaranty Insurance Policy
11
Certificate Insurer
11
Certificate Margin
11
Certificate Owner
11
Certificate Principal Balance
12
Certificate Register
12
Certificateholder or Holder
12
Class
12
Class A Certificates
12
Class A1-A Certificate
12
Class A1-B Certificate
12
Class A1-C Certificate
13
Class AM Certificate
13
Class A Principal Distribution Amount
13

i



Class B Certificate
13
Class C Certificates
13
Class C Distribution Amount
13
Class IO Interest
14
Class IO Distribution Amount
14
Class M Certificates
14
Class M Interest Reserve Fund
14
Class M Interest Reserve Fund Amount
14
Class M-1 Certificate
14
Class M-2 Certificate
14
Class M-3 Certificate
14
Class M-4 Certificate
14
Class M-4 Interest Reserve Fund Amount
15
Class M-5 Certificate
15
Class M-5 Interest Reserve Fund Amount
15
Class M-6 Certificate
15
Class M-6 Interest Reserve Fund Amount
15
Class M-7 Certificate
15
Class M-7 Interest Reserve Fund Amount
15
Class M-8 Certificate
16
Class P Certificate
16
Class R Certificate
16
Class R-1 Interest
16
Class R-2 Interest
16
Class R-3 Interest
16
Closing Date
16
Code
16
Collateral Account
16
Collateral Value
16
Commission
16
Compensating Interest
17
Corporate Trust Office
17
Corresponding Certificate
17
Countrywide
17
Credit Enhancement Percentage
17
Credit Support Annex One
17
Credit Support Annex Two
17
Current Report
17
Curtailment
18
Custodial Account
18
Custodian
18
Cut-off Date
18
Cut-off Date Balance
18
Defaulted Mortgage Loan
18
Defaulting Party
18
Deficiency Amount
18

ii



Deficient Valuation
18
Definitive Certificate
19
Deleted Mortgage Loan
19
Delinquent
19
Depositor Impac Secured Assets Corp., or its successor in interest.
19
Depository
19
Depository Participant
19
Derivative Account
19
Derivative Contract
19
Derivative Termination Payment
19
Determination Date
20
Disqualified Organization
20
Distribution Date
20
Distribution Report
20
Due Date
20
Due Period
20
Eligible Account
20
Estimated Swap Termination Payment
21
Event of Default
21
Excess Proceeds
21
Exchange Act
21
Extra Principal Distribution Amount
21
Fannie Mae
21
FDIC
21
Final Scheduled Distribution Date
21
Freddie Mac
21
Gross Margin
21
Index
22
Initial Certificate Principal Balance
22
Initial Interest Coverage Deposit
22
Initial Mortgage Loans
22
Initial Notional Amount
22
Insurance Account
22
Insurance Agreement
22
Insurance Policy
22
Insurance Proceeds
22
Insured Amounts
22
Insurer Default
22
Interest Coverage Account
23
Interest Coverage Distribution Amount
23
Interest Rate Swap Agreement
23
Interest Remittance Amount
23
Late Collections
23
LIBOR
23
LIBOR Business Day
23
LIBOR Rate Adjustment Date
23

iii



Liquidated Mortgage Loan
23
Liquidation Proceeds
24
Loan-to-Value Ratio
24
Lost Note Affidavit
24
Majority Class C Certificateholder
24
Marker Rate
24
Master Servicer
24
Master Servicer Prepayment Charge Payment Amount
24
Master Servicing Fees
25
Master Servicing Fee Rate
25
Maximum Uncertificated Accrued Interest Deferral Amount
25
MERS
25
MERS® System
25
MIN
26
MOM Loan
26
Monthly Interest Distributable Amount
26
Monthly Payment
26
Moody's
26
Mortgage
26
Mortgage File
26
Mortgage Loan
26
Mortgage Loan Purchase Agreement
26
Mortgage Loan Schedule
27
Mortgage Note
28
Mortgage Rate
28
Mortgaged Property
28
Mortgagor
28
Net Liquidation Proceeds
28
Net Monthly Excess Cashflow
28
Net Mortgage Rate
28
Net Prepayment Interest Shortfall
29
Net Swap Payment
29
Net WAC Rate
29
Net WAC Shortfall Amount
29
Net WAC Shortfall Reserve Fund
30
Net WAC Shortfall Reserve Fund Deposit
30
Nonrecoverable Advance
30
Non-United States Person
30
Notional Balance
30
Officers’ Certificate
30
One Month LIBOR
30
Opinion of Counsel
30
Optional Termination Date
31
Original Pre-Funded Amount
31
OTS
31
Outstanding Mortgage Loan
31

iv



Overcollateralization Deficiency Amount
31
Overcollateralization Floor
31
Overcollateralization Release Amount
31
Overcollateralization Target Amount
31
Overcollateralized Amount
31
Ownership Interest
32
Pass-Through Rate
32
Percentage Interest
32
Permitted Investment
32
Permitted Transferee
34
Person
34
PMI Insurer
34
PMI Insurer Fee Rate
34
PMI Insurer Policy
34
PMI Mortgage Loan
34
Policy Premium
34
Policy Premium Rate
34
Pre-Funded Amount
34
Pre-Funding Account
34
Pre-Funding Period
34
Preference Amount
34
Prepayment Assumption
35
Prepayment Charge
35
Prepayment Interest Excess
35
Prepayment Interest Shortfall
35
Prepayment Period
35
Primary Hazard Insurance Policy
35
Primary Insurance Policy
35
Principal Distribution Amount
35
Principal Prepayment
35
Principal Prepayment in Full
36
Principal Remittance Amount
36
Prospectus Supplement
36
Purchase Price
36
Qualified Insurer
36
Qualified Substitute Mortgage Loan
37
Rating Agency
37
Realized Loss
37
Record Date
37
Regular Certificate
38
Regulation AB
38
Relief Act
38
Relief Act Interest Shortfall
38
REMIC
38
REMIC 1
38
REMIC 1 Regular Interest
39

v



REMIC 2
39
REMIC 2 Interest Loss Allocation Amount
39
REMIC 2 Overcollateralized Amount
39
REMIC 2 Overcollateralization Target Amount
39
REMIC 2 Principal Loss Allocation Amount
39
REMIC 2 Regular Interest
40
REMIC 3
40
REMIC 3 Regular Interest
40
REMIC Provisions
40
REMIC Regular Interest
40
Remittance Report
40
REO Acquisition
40
REO Disposition
40
REO Imputed Interest
40
REO Proceeds
41
REO Property
41
Request for Release
41
Residual Certificate
41
Residual Interest
41
Responsible Officer
41
Schedule
41
Servicing Account
41
Servicing Advances
41
Servicing Criteria
41
Servicing Guide
42
Servicing Officer
42
Single Certificate
42
Sponsor
42
Standard & Poor’s
42
Startup Day
42
Stated Principal Balance
42
Step-Up Date
42
Stepdown Date
42
Stepdown Target Subordination Percentage
43
Subordinate Certificates
43
Subordinate Class Principal Distribution Amount
43
Subsequent Cut-off Date
44
Subsequent Recoveries
44
Subsequent Transfer Date
44
Subsequent Transfer Instrument
44
Sub-Servicer
45
Sub-Servicer Remittance Date
45
Sub-Servicing Account
45
Sub-Servicing Agreement
45
Sub-Servicing Fees
45
Sub-Servicing Fee Rate
45

vi



Substitution Adjustment
45
Supplemental Interest Trust
45
Supplemental Interest Trust Trustee
45
Swap LIBOR
45
Swap Optional Termination Payment
45
Swap Provider
46
Swap Provider Trigger Event
46
Swap Termination Payment
46
Tax Matters Person
46
Tax Returns
46
Transfer
46
Transferor
46
Trigger Event
46
Trust Fund
47
Trustee
47
Trustee Fee Rate
47
Uncertificated Accrued Interest
47
Uncertificated Notional Balance
48
Uncertificated Pass-Through Rate
49
Uncertificated Principal Balance
49
Uncertificated REMIC 1 Pass-Through Rate
49
Uncertificated REMIC 2 Pass-Through Rate
50
Uninsured Cause
53
United States Person
53
Unpaid Interest Shortfall Amount
54
Voting Rights
54
Weighted Average Net Mortgage Rate
54
Section 1.02.
Determination of LIBOR.
54
Section 1.03.
Allocation of Certain Interest Shortfalls.
55
     
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
57
Section 2.01.
Conveyance of Mortgage Loans.
57
Section 2.02.
Acceptance of the Trust Fund by the Trustee.
61
Section 2.03.
Representations, Warranties and Covenants of the Master Servicer and the Depositor.
62
Section 2.04.
Representations and Warranties of the Sponsor.
64
Section 2.05.
Issuance of Certificates; Conveyance of REMIC Regular Interests and Acceptance of REMIC 2 and REMIC 3 by the Trustee.
66
Section 2.06.
Purposes and Powers of the Trust.
67
Section 2.07.
Conveyance of Subsequent Mortgage Loans.
68
     
ARTICLE III
ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS
72
Section 3.01.
Master Servicer to Act as Master Servicer.
72
Section 3.02.
Sub-Servicing Agreements Between Master Servicer and Sub-Servicers.
74
Section 3.03.
Successor Sub-Servicers.
75
 
 
vii

 
Section 3.04.
Liability of the Master Servicer.
75
Section 3.05.
No Contractual Relationship Between Sub-Servicers and Trustee or Certificateholders.
75
Section 3.06.
Assumption or Termination of Sub-Servicing Agreements by Trustee.
76
Section 3.07.
Collection of Certain Mortgage Loan Payments.
76
Section 3.08.
Sub-Servicing Accounts.
77
Section 3.09.
Collection of Taxes, Assessments and Similar Items; Servicing Accounts.
78
Section 3.10.
Custodial Account.
78
Section 3.11.
Permitted Withdrawals From the Custodial Account.
79
Section 3.12.
Permitted Investments.
80
Section 3.13.
Maintenance of Primary Hazard Insurance.
81
Section 3.14.
Enforcement of Due-on-Sale Clauses; Assumption Agreements.
83
Section 3.15.
Realization Upon Defaulted Mortgage Loans.
84
Section 3.16.
Trustee to Cooperate; Release of Mortgage Files.
85
Section 3.17.
Servicing Compensation.
86
Section 3.18.
Maintenance of Certain Servicing Policies.
87
Section 3.19.
Annual Statement as to Compliance.
87
Section 3.20.
Assessments of Compliance and Attestation Reports.
88
Section 3.21.
Access to Certain Documentation.
90
Section 3.22.
Title, Conservation and Disposition of REO Property.
90
Section 3.23.
Additional Obligations of the Master Servicer.
92
Section 3.24.
Additional Obligations of the Depositor.
92
Section 3.25.
Exchange Act Reporting.
93
Section 3.26.
Intention of the Parties and Interpretation.
96
Section 3.27.
Optional Purchase of Certain Mortgage Loans.
96
     
ARTICLE IV
PAYMENTS TO CERTIFICATEHOLDERS
98
Section 4.01.
Distributions.
98
Section 4.02.
Statements to Certificateholders.
104
Section 4.03.
Remittance Reports; Advances by the Master Servicer.
107
Section 4.04.
Distributions on the REMIC Regular Interests.
109
Section 4.05.
Allocation of Realized Losses.
112
Section 4.06.
Information Reports to Be Filed by the Master Servicer.
114
Section 4.07.
Compliance with Withholding Requirements.
114
Section 4.08.
Net WAC Shortfall Reserve Fund.
114
Section 4.09.
Supplemental Interest Trust.
115
Section 4.10.
Tax Treatment of Class IO Distribution Amounts in the Event of Resecuritization of Class A, Class M or Class B Certificates.
118
Section 4.11.
Collateral Account.
118
Section 4.12.
The Certificate Guaranty Insurance Policy.
120
Section 4.13.
Class M Interest Reserve Fund.
122
Section 4.14.
Pre-Funding Account.
123
Section 4.15.
Interest Coverage Account.
124
     
ARTICLE V
THE CERTIFICATES
126
 
 
viii

 
Section 5.01.
The Certificates.
126
Section 5.02.
Registration of Transfer and Exchange of Certificates.
127
Section 5.03.
Mutilated, Destroyed, Lost or Stolen Certificates.
133
Section 5.04.
Persons Deemed Owners.
133
Section 5.05.
Rule 144A Information.
134
     
ARTICLE VI
THE DEPOSITOR AND THE MASTER SERVICER
135
Section 6.01.
Liability of the Depositor and the Master Servicer.
135
Section 6.02.
Merger, Consolidation or Conversion of the Depositor or the Master Servicer.
135
Section 6.03.
Limitation on Liability of the Depositor, the Master Servicer and Others.
135
Section 6.04.
Limitation on Resignation of the Master Servicer.
136
Section 6.05.
Sale and Assignment of Master Servicing.
136
     
ARTICLE VII
DEFAULT
138
Section 7.01.
Events of Default.
138
Section 7.02.
Trustee to Act; Appointment of Successor.
140
Section 7.03.
Notification to Certificateholders.
141
Section 7.04.
Waiver of Events of Default.
141
Section 7.05.
List of Certificateholders.
142
     
ARTICLE VIII
CONCERNING THE TRUSTEE
143
Section 8.01.
Duties of Trustee.
143
Section 8.02.
Certain Matters Affecting the Trustee.
144
Section 8.03.
Trustee Not Liable for Certificates or Mortgage Loans.
146
Section 8.04.
Trustee May Own Certificates.
146
Section 8.05.
Trustee’s Fees.
146
Section 8.06.
Eligibility Requirements for Trustee.
147
Section 8.07.
Resignation and Removal of the Trustee.
147
Section 8.08.
Successor Trustee.
148
Section 8.09.
Merger or Consolidation of Trustee.
148
Section 8.10.
Appointment of Co-Trustee or Separate Trustee.
148
     
ARTICLE IX
TERMINATION
150
Section 9.01.
Termination Upon Repurchase or Liquidation of All Mortgage Loans or upon Purchase of Certificates.
150
Section 9.02.
Termination of REMIC 3 and Retirement of Class R Certificates.
153
Section 9.03.
Additional Termination Requirements.
154
     
ARTICLE X
REMIC PROVISIONS
155
Section 10.01.
REMIC Administration.
155
Section 10.02.
Prohibited Transactions and Activities.
157
Section 10.03.
Master Servicer and Trustee Indemnification.
158
     
ARTICLE XI
MISCELLANEOUS PROVISIONS
159
Section 11.01.
Amendment.
159
 
 
ix

 
Section 11.02.
Recordation of Agreement; Counterparts.
160
Section 11.03.
Limitation on Rights of Certificateholders.
161
Section 11.04.
Governing Law.
161
Section 11.05.
Notices.
161
Section 11.06.
Severability of Provisions.
162
Section 11.07.
Successors and Assigns.
162
Section 11.08.
Article and Section Headings.
162
Section 11.09.
Notice to Rating Agencies.
162
Section 11.10.
Rights of the Certificate Insurer.
163
Section 11.11.
Control by the Certificate Insurer.
163
Section 11.12.
Third Party Rights.
164

Signatures
Acknowledgments
 

x



Exhibit A
Form of Class A Certificate
Exhibit B-1
Form of Class M Certificate
Exhibit B-2
Form of Class B Certificate
Exhibit B-3
Form of Class C Certificate
Exhibit B-4
Form of Class P Certificate
Exhibit B-5
Form of Class R Certificate
Exhibit C
Form of Trustee Initial Certification
Exhibit D
Form of Trustee Final Certification
Exhibit E
Form of Remittance Report
Exhibit F-1
Request for Release
Exhibit F-2
Request for Release for Mortgage Loans Paid in Full
Exhibit G-1
Form of Investor Representation Letter
Exhibit G-2
Form of Transferor Representation Letter
Exhibit G-3
Form of Rule 144A Investment Representation
Exhibit G-4
Transferor Certificate for Transfers of Residual Certificates
Exhibit G-5
Transfer Affidavit and Agreement for Transfers of Residual Certificates
Exhibit H
Mortgage Loan Schedule
Exhibit I
Sponsor Representations and Warranties
Exhibit J
Form for Information Under Section 3.24
Exhibit K
Impac Funding Corporation Servicing Guide
Exhibit L-1
Form 10-K Certification
Exhibit L-2
Form 10-K Back-up Certification (Master Servicer)
Exhibit L-3
Form 10-K Back-up Certification (Trustee)
Exhibit L-4
Form of Back-up Certification to Form 10-K Certificate
Exhibit M
Form of Interest Rate Swap Agreement and Cap Contracts
Exhibit N
Servicing Criteria to be Addressed in Assessment of Compliance
Exhibit O
Form 10-D, Form 8-K and Form 10-K Reporting Responsibility
Exhibit P
[reserved]
Exhibit Q
Form of Countrywide Servicing Agreement
Exhibit R
Form of Item 1115 Agreement
Exhibit S
Form of Subsequent Transfer Instrument
Exhibit T
Form of Addition Notice



xi


This Pooling and Servicing Agreement, dated and effective as of April 1, 2007, is entered into among Impac Secured Assets Corp., as depositor (the “Depositor”), Impac Funding Corporation, as master servicer (the “Master Servicer”), and Deutsche Bank National Trust Company, as trustee (the “Trustee”).
 
PRELIMINARY STATEMENT:
 
The Depositor intends to sell pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of sixteen classes of certificates, designated as (i) the Class A1-A Certificates, (ii) the Class A1-B Certificates, (iii) the Class A1-C Certificates, (iv) the Class AM Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class B Certificates, (xiv) the Class C Certificates, (xv) the Class P Certificates and (xvi) the Class R Certificates.
 
REMIC 1
 
As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and, for the avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be certificated.
 
Designation
Uncertificated REMIC 1
Pass-Through Rate
Initial Uncertificated
Principal Balance
Latest Possible
Maturity Date (1)
1-1-A
Variable(2)
$                                1,291,504.09
September 25, 2037
1-1-B
Variable(2)
$                                1,291,504.09
September 25, 2037
1-2-A
Variable(2)
$                                2,392,637.16
September 25, 2037
1-2-B
Variable(2)
$                                2,392,637.16
September 25, 2037
1-3-A
Variable(2)
$                                3,515,987.98
September 25, 2037
1-3-B
Variable(2)
$                                3,515,987.98
September 25, 2037
1-4-A
Variable(2)
$                                4,652,077.16
September 25, 2037
1-4-B
Variable(2)
$                                4,652,077.16
September 25, 2037
1-5-A
Variable(2)
$                                5,790,398.31
September 25, 2037
1-5-B
Variable(2)
$                                5,790,398.31
September 25, 2037
1-6-A
Variable(2)
$                                6,916,224.67
September 25, 2037




Designation
Uncertificated REMIC 1
Pass-Through Rate
Initial Uncertificated
Principal Balance
Latest Possible
Maturity Date (1)
1-6-B
Variable(2)
$                                 6,916,224.67
September 25, 2037
1-7-A
Variable(2)
$                                 8,020,326.33
September 25, 2037
1-7-B
Variable(2)
$                                 8,020,326.33
September 25, 2037
1-8-A
Variable(2)
$                                 9,083,173.44
September 25, 2037
1-8-B
Variable(2)
$                                 9,083,173.44
September 25, 2037
1-9-A
Variable(2)
$                               10,058,672.05
September 25, 2037
1-9-B
Variable(2)
$                               10,058,672.05
September 25, 2037
1-10-A
Variable(2)
$                               10,765,542.83
September 25, 2037
1-10-B
Variable(2)
$                               10,765,542.83
September 25, 2037
1-11-A
Variable(2)
$                               11,463,933.03
September 25, 2037
1-11-B
Variable(2)
$                               11,463,933.03
September 25, 2037
1-12-A
Variable(2)
$                               11,644,488.25
September 25, 2037
1-12-B
Variable(2)
$                               11,644,488.25
September 25, 2037
1-13-A
Variable(2)
$                               11,067,336.89
September 25, 2037
1-13-B
Variable(2)
$                               11,067,336.89
September 25, 2037
1-14-A
Variable(2)
$                               10,518,483.57
September 25, 2037
1-14-B
Variable(2)
$                               10,518,483.57
September 25, 2037
1-15-A
Variable(2)
$                                 9,996,426.10
September 25, 2037
1-15-B
Variable(2)
$                                 9,996,426.10
September 25, 2037
1-16-A
Variable(2)
$                                 9,499,998.27
September 25, 2037
1-16-B
Variable(2)
$                                 9,499,998.27
September 25, 2037
1-17-A
Variable(2)
$                                 9,027,876.59
September 25, 2037
1-17-B
Variable(2)
$                                 9,027,876.59
September 25, 2037
1-18-A
Variable(2)
$                                 8,578,837.10
September 25, 2037
1-18-B
Variable(2)
$                                 8,578,837.10
September 25, 2037
1-19-A
Variable(2)
$                                 8,151,847.46
September 25, 2037
1-19-B
Variable(2)
$                                 8,151,847.46
September 25, 2037
1-20-A
Variable(2)
$                                 7,798,892.21
September 25, 2037
1-20-B
Variable(2)
$                                 7,798,892.21
September 25, 2037
1-21-A
Variable(2)
$                                 7,396,029.40
September 25, 2037
1-21-B
Variable(2)
$                                 7,396,029.40
September 25, 2037
1-22-A
Variable(2)
$                                 7,016,763.42
September 25, 2037
1-22-B
Variable(2)
$                                 7,016,763.42
September 25, 2037
1-23-A
Variable(2)
$                                 6,425,008.72
September 25, 2037
1-23-B
Variable(2)
$                                 6,425,008.72
September 25, 2037
1-24-A
Variable(2)
$                                 3,611,587.50
September 25, 2037
1-24-B
Variable(2)
$                                 3,611,587.50
September 25, 2037
1-25-A
Variable(2)
$                                 3,502,440.00
September 25, 2037
1-25-B
Variable(2)
$                                 3,502,440.00
September 25, 2037
1-26-A
Variable(2)
$                                 3,396,127.50
September 25, 2037
1-26-B
Variable(2)
$                                 3,396,127.50
September 25, 2037
1-27-A
Variable(2)
$                                 3,293,460.00
September 25, 2037
1-27-B
Variable(2)
$                                 3,293,460.00
September 25, 2037

2



Designation
Uncertificated REMIC 1
Pass-Through Rate
Initial Uncertificated
Principal Balance
Latest Possible
Maturity Date (1)
1-28-A
Variable(2)
$                                 3,193,627.50
September 25, 2037
1-28-B
Variable(2)
$                                 3,193,627.50
September 25, 2037
1-29-A
Variable(2)
$                                 3,096,832.50
September 25, 2037
1-29-B
Variable(2)
$                                 3,096,832.50
September 25, 2037
1-30-A
Variable(2)
$                                 3,003,075.00
September 25, 2037
1-30-B
Variable(2)
$                                 3,003,075.00
September 25, 2037
1-31-A
Variable(2)
$                                 2,911,950.00
September 25, 2037
1-31-B
Variable(2)
$                                 2,911,950.00
September 25, 2037
1-32-A
Variable(2)
$                                 2,823,862.50
September 25, 2037
1-32-B
Variable(2)
$                                 2,823,862.50
September 25, 2037
1-33-A
Variable(2)
$                                 2,738,205.00
September 25, 2037
1-33-B
Variable(2)
$                                 2,738,205.00
September 25, 2037
1-34-A
Variable(2)
$                                 2,654,977.50
September 25, 2037
1-34-B
Variable(2)
$                                 2,654,977.50
September 25, 2037
1-35-A
Variable(2)
$                                 2,574,585.00
September 25, 2037
1-35-B
Variable(2)
$                                 2,574,585.00
September 25, 2037
1-36-A
Variable(2)
$                               20,079,787.50
September 25, 2037
1-36-B
Variable(2)
$                               20,079,787.50
September 25, 2037
1-37-A
Variable(2)
$                                 1,882,755.00
September 25, 2037
1-37-B
Variable(2)
$                                 1,882,755.00
September 25, 2037
1-38-A
Variable(2)
$                                 1,825,582.50
September 25, 2037
1-38-B
Variable(2)
$                                 1,825,582.50
September 25, 2037
1-39-A
Variable(2)
$                                 1,770,300.00
September 25, 2037
1-39-B
Variable(2)
$                                 1,770,300.00
September 25, 2037
1-40-A
Variable(2)
$                                 1,716,435.00
September 25, 2037
1-40-B
Variable(2)
$                                 1,716,435.00
September 25, 2037
1-41-A
Variable(2)
$                                 1,664,460.00
September 25, 2037
1-41-B
Variable(2)
$                                 1,664,460.00
September 25, 2037
1-42-A
Variable(2)
$                                 1,613,745.00
September 25, 2037
1-42-B
Variable(2)
$                                 1,613,745.00
September 25, 2037
1-43-A
Variable(2)
$                                 1,564,762.50
September 25, 2037
1-43-B
Variable(2)
$                                 1,564,762.50
September 25, 2037
1-44-A
Variable(2)
$                                 1,517,355.00
September 25, 2037
1-44-B
Variable(2)
$                                 1,517,355.00
September 25, 2037
1-45-A
Variable(2)
$                                 1,471,050.00
September 25, 2037
1-45-B
Variable(2)
$                                 1,471,050.00
September 25, 2037
1-46-A
Variable(2)
$                                 1,426,477.50
September 25, 2037
1-46-B
Variable(2)
$                                 1,426,477.50
September 25, 2037
1-47-A
Variable(2)
$                                 1,383,007.50
September 25, 2037
1-47-B
Variable(2)
$                                 1,383,007.50
September 25, 2037
1-48-A
Variable(2)
$                                 1,341,112.50
September 25, 2037
1-48-B
Variable(2)
$                                 1,341,112.50
September 25, 2037
1-49-A
Variable(2)
$                                 1,300,162.50
September 25, 2037

3



Designation
Uncertificated REMIC 1
Pass-Through Rate
Initial Uncertificated
Principal Balance
Latest Possible Maturity Date (1)
1-49-B
Variable(2)
$                                 1,300,162.50
September 25, 2037
1-50-A
Variable(2)
$                                 1,260,630.00
September 25, 2037
1-50-B
Variable(2)
$                                 1,260,630.00
September 25, 2037
1-51-A
Variable(2)
$                                 1,222,357.50
September 25, 2037
1-51-B
Variable(2)
$                                 1,222,357.50
September 25, 2037
1-52-A
Variable(2)
$                                 1,185,030.00
September 25, 2037
1-52-B
Variable(2)
$                                 1,185,030.00
September 25, 2037
1-53-A
Variable(2)
$                                 1,148,962.50
September 25, 2037
1-53-B
Variable(2)
$                                 1,148,962.50
September 25, 2037
1-54-A
Variable(2)
$                                 1,113,997.50
September 25, 2037
1-54-B
Variable(2)
$                                 1,113,997.50
September 25, 2037
1-55-A
Variable(2)
$                                 1,080,135.00
September 25, 2037
1-55-B
Variable(2)
$                                 1,080,135.00
September 25, 2037
1-56-A
Variable(2)
$                                 1,047,217.50
September 25, 2037
1-56-B
Variable(2)
$                                 1,047,217.50
September 25, 2037
1-57-A
Variable(2)
$                                 1,015,245.00
September 25, 2037
1-57-B
Variable(2)
$                                 1,015,245.00
September 25, 2037
1-58-A
Variable(2)
$                                    984,375.00
September 25, 2037
1-58-B
Variable(2)
$                                    984,375.00
September 25, 2037
1-59-A
Variable(2)
$                                    954,292.50
September 25, 2037
1-59-B
Variable(2)
$                                    954,292.50
September 25, 2037
1-60-A
Variable(2)
$                               30,051,630.00
September 25, 2037
1-60-B
Variable(2)
$                               30,051,630.00
September 25, 2037
P
Variable(2)
$                                           100.00
September 25, 2037
OC
Variable(2)
$                             196,613,419.09
September 25, 2037
________________________
(1)
For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest possible maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest.
(2)
Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Through Rate” in this Agreement.

4


REMIC 2
 
As provided in this Agreement, the Trustee will make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2”. The Class R-2 Interest will represent the sole class of Residual Interests in REMIC 2 for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests (as defined herein). None of the REMIC 2 Regular Interests will be certificated.
 
Designation
Uncertificated REMIC 2
Pass-Through Rate
Initial Uncertificated
Principal Balance
Latest Possible
Maturity Date(1)
AA
Variable(2)
$                                779,689,508.31
September 25, 2037
A1-A
Variable(2)
$                                    2,172,880.00
September 25, 2037
A1-B
Variable(2)
$                                    2,611,410.00
September 25, 2037
A1-C
Variable(2)
$                                    1,150,900.00
September 25, 2037
AM
Variable(2)
$                                    1,483,800.00
September 25, 2037
M-1
Variable(2)
$                                         99,450.00
September 25, 2037
M-2
Variable(2)
$                                         91,490.00
September 25, 2037
M-3
Variable(2)
$                                         51,710.00
September 25, 2037
M-4
Variable(2)
$                                         43,760.00
September 25, 2037
M-5
Variable(2)
$                                         39,780.00
September 25, 2037
M-6
Variable(2)
$                                         35,800.00
September 25, 2037
M-7
Variable(2)
$                                         31,820.00
September 25, 2037
M-8
Variable(2)
$                                         27,850.00
September 25, 2037
B
Variable(2)
$                                         39,780.00
September 25, 2037
ZZ
Variable(2)
$                                    8,031,600.78
September 25, 2037
IO
Variable(2)
(3)
September 25, 2037
P
Variable(2)
$                                              100.00
September 25, 2037
________________________
(1)
For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest possible maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest.
(2)
Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” in this Agreement.
(3)
REMIC 2 Regular Interest IO will not have an Uncertificated Principal Balance but will accrue interest on its uncertificated notional amount calculated in accordance with the related definition of “Uncertificated Notional Amount” herein.


5


REMIC 3
 
As provided in this Agreement, the Trustee will make an election to treat the segregated pool of assets consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 3”. The Class R-3 Interest will represent the sole class of Residual Interests in REMIC 3 for purposes of the REMIC Provisions.
 
The following table irrevocably sets forth the designation, the Pass-Through Rate, the Initial Certificate Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each class of Certificates and interests that represents ownership of one or more of the Regular Interests in REMIC 3 created hereunder.
 
Each Certificate, other than the Class C Certificates and the Class R Certificates, represents ownership of a Regular Interest in REMIC 3 and also represents (i) the right to receive certain amounts specified herein in respect of Net WAC Shortfall Amounts (as defined herein) and (ii) the obligation to pay Class IO Distribution Amounts (as defined herein). The entitlement to principal of the Regular Interest which corresponds to each such Certificate shall be equal in amount and timing to the entitlement to principal of such Certificate. The Class C Certificates represent ownership of a Regular Interest in REMIC 3 and also represent (i) the obligation to pay certain amounts specified herein in respect of Net WAC Shortfall Amounts and (ii) the right to receive Class IO Distribution Amounts.
 
Designation
Initial Certificate
Principal Balance
Pass-Through Rate
Latest Possible
Maturity Date(1)
A1-A(2)
$                                         217,288,000
Variable(3)
September 25, 2037
A1-B(2)
$                                         261,141,000
Variable(3)
September 25, 2037
A1-C(2)
$                                         115,090,000
Variable(3)
September 25, 2037
AM(2)
$                                         148,380,000
Variable(3)
September 25, 2037
M-1(2)
$                                             9,945,000
Variable(3)
September 25, 2037
M-2(2)
$                                             9,149,000
Variable(3)
September 25, 2037
M-3(2)
$                                             5,171,000
Variable(3)
September 25, 2037
M-4(2)
$                                             4,376,000
Variable(3)
September 25, 2037
M-5(2)
$                                             3,978,000
Variable(3)
September 25, 2037
M-6(2)
$                                             3,580,000
Variable(3)
September 25, 2037
M-7(2)
$                                             3,182,000
Variable(3)
September 25, 2037
M-8(2)
$                                             2,785,000
Variable(3)
September 25, 2037
B(2)
$                                             3,978,000
Variable(3)
September 25, 2037
C
$                                     7,558,539.09(4)
Variable(3)
September 25, 2037
P
$                                                   100.00
0.00%
September 25, 2037
Class IO Interest
(5)
(6)
September 25, 2037
________________________
(1)
For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest possible maturity date has been designated as the “latest possible maturity date” for each Regular Interest in REMIC 3 the ownership of which is represented by the Class A, Class B, Class M, Class C and Class P Certificates and the Class IO Interest.

6


(2)
This Class of Certificates represents ownership of a Regular Interest in REMIC 3. Any amount distributed on this Class of Certificates on any Distribution Date in excess of the amount distributable on the related Regular Interest in REMIC 3 on such Distribution Date shall be treated for federal income tax purposes as having been paid from the Net WAC Shortfall Reserve Fund or the Supplemental Interest Trust, as applicable, and any amount distributable on the related Regular Interest in REMIC 3 on such Distribution Date in excess of the amount distributable on such Class of Certificates on such Distribution Date shall be treated for such purposes as having been distributed to the Holders of such Certificates and then paid by such Holders to the Supplemental Interest Trust, all pursuant to and as further provided in Section 4.09 hereof.
(3)
Calculated in accordance with the definition of “Pass-Through Rate” in this Agreement. Each Regular Interest in REMIC 3 which corresponds to a Class A, Class M or Class B Certificate will have the same Pass-Through Rate as such Certificate, except with respect to the related Net WAC Rate. The Net WAC Rate for each such Regular Interest in REMIC 3 and Certificate is specified in the related definition of “Net WAC Rate .”
(4)
The Class C Certificates will not accrue interest on its Certificate Principal Balance, but will accrue interest at its variable Pass-Through Rates on its Notional Balance outstanding from time to time, which shall equal the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests (other than REMIC 2 Regular Interest P).
(5)
The Class IO Interest will not have a principal balance, but will have a notional amount equal to the Uncertificated Notional Amount of REMIC 2 Regular Interest IO.
(6)
The Class IO Interest will not have a Pass-Through Rate, but will be entitled to 100% of the amounts distributed on REMIC 2 Regular Interest IO.

7

 
ARTICLE I
 
DEFINITIONS
 
Section 1.01. Defined Terms.
 
Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the meanings specified in this Article. Unless otherwise specified, all calculations in respect of interest on the Class A, Class M and Class B Certificates shall accrue on the basis of a 360-day year and the actual number of days in the related Accrual Period. All calculations of interest on the Class C Certificates will be made on the basis of a 360-day year consisting of twelve 30-day months. The Class P and Class R Certificates do not accrue interest.
 
“Accrual Period”: With respect to each Class of Certificates (other than the Class C, Class P and Class R Certificates) and (i) with respect to the Distribution Date in May 2007, the period commencing on the Closing Date and ending on the day preceding the Distribution Date in May 2007, and (ii) with respect to any Distribution Date after the Distribution Date in May 2007, the period commencing on the Distribution Date in the month immediately preceding the month in which such Distribution Date occurs and ending on the day preceding such Distribution Date. With respect to the Class C Certificates and any Distribution Date, the calendar month immediately preceding such Distribution Date.
 
“Addition Notice”: With respect to the transfer of Subsequent Mortgage Loans to the Trust Fund pursuant to Section 2.07, a notice of the Depositor’s designation of the Subsequent Mortgage Loans to be sold to the Trust Fund and the Aggregate Stated Principal Balance of such Subsequent Mortgage Loans as of the related Subsequent Cut-off Date. The Addition Notice shall be given not later than three Business Days prior to the related Subsequent Transfer Date and shall be substantially in the form of Exhibit T.
 
“Adjustment Date”: As to each adjustable-rate Mortgage Loan, each date set forth in the related Mortgage Note on which an adjustment to the interest rate on such Mortgage Loan becomes effective.
 
“AdvanceAdvance”: As to any Mortgage Loan, any advance made by the Sub-Servicer or Master Servicer on any Distribution Date pursuant to Section 4.03.
 
“Affected Party”: As defined in the Interest Rate Swap Agreement.
 
“AffiliateAffiliate”: With respect to any Person, any other Person controlling, controlled by or under common control with such Person. For purposes of this definition, “control” means the power to direct the management and policies of a Person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise and “controlling” and “controlled” shall have meanings correlative to the foregoing.
 
“Aggregate Stated Principal Balance” Aggregate Stated Principal Balance: As of any date of determination, the aggregate Stated Principal Balance of the Mortgage Loans.
 
 

8


“Agreement”: This Pooling and Servicing Agreement and all amendments hereof.
 
“Allocated Realized Loss Amount”: With respect to any Class of Class A, Class M and Class B Certificates and any Distribution Date, an amount equal to the sum of any Realized Loss allocated to that Class of Certificates on that Distribution Date and any Allocated Realized Loss Amount for that Class remaining unpaid from any previous Distribution Date (other than, with respect to the Class AM Certificates, a Realized Loss that was covered by the Certificate Guaranty Insurance Policy), minus any Subsequent Recoveries applied to such Allocated Realized Loss Amount.
 
“Assessment of Compliance”: As defined in Section 3.20.
 
“AssignmentAssignment”: An assignment of Mortgage, notice of transfer or equivalent instrument, in recordable form, which is sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect of record the sale of the Mortgage.
 
“Attestation Report”: As defined in Section 3.20.
 
“Available Distribution Amount”: With respect to any Distribution Date, an amount equal to the amount received by the Trustee and available in the Certificate Account on that Distribution Date. The Available Distribution Amount will be equal to (i) the sum of (1) the aggregate amount of scheduled payments on the Mortgage Loans received or advanced that were due during the related Due Period, (2) any unscheduled payments and receipts, including mortgagor prepayments on such Mortgage Loans, Insurance Proceeds, Liquidation Proceeds and Subsequent Recoveries, received during the related Prepayment Period and (3) any amounts transferred from the Pre-Funding Account pursuant to Section 4.14 after giving effect to any purchase of Subsequent Mortgage Loans and any amounts deposited into the Certificate Account from the Interest Coverage Account pursuant to Section 4.15 of this Agreement, in each case net of amounts reimbursable therefrom to the Trustee, the Master Servicer, the Supplemental Interest Trust Trustee and any Sub-Servicer, minus Master Servicing Fees, Subservicing Fees, Trustee Fees and any amounts needed to reimburse the Master Servicer for amounts due under this Agreement to the extent such amounts have not been retained by, or paid previously to the Master Servicer, and any amounts in respect of the premiums payable to the PMI Insurer under the PMI Insurer Policy.
 
“Balloon Loan”: Each of the Mortgage Loans identified in the Mortgage Loan Schedule as having an original term to maturity that is shorter than the related amortization term.
 
“Balloon Payment”: With respect to any Balloon Loan, the related Monthly Payment payable on the stated maturity date of such Balloon Loan. 
 
“Bankruptcy Code”: The Bankruptcy Code of 1978, as amended.
 
 

9


“Basic Principal Distribution Amount”: With respect to any Distribution Date, the excess of (i) the Principal Remittance Amount for such Distribution Date over (ii) the Overcollateralization Release Amount, if any, for such Distribution Date.
 
“Book-Entry Certificate”: Each class of the Class A, Class M and Class B Certificates for so long as they are issued, maintained and transferred at the Depository.
 
“Business Day”: Any day other than a Saturday, a Sunday or a day on which banking institutions in California or New York (and such other state or states in which the Custodial Account or the Certificate Account are at the time located) or in the city in which the Corporate Trust Office of the Trustee is located are authorized or obligated by law or executive order to close.
 
“Cap Contract I”: The letter of agreement dated April 30, 2007, between Lehman Brothers Special Financing Inc. and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee, a form of which is attached hereto as Exhibit M.
 
“Cap Contract II”: The letter of agreement dated April 30, 2007, between Bear Stearns Financial Products Inc. and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee, a form of which is attached hereto as Exhibit M.
 
“Cap Contracts”: Cap Contract I and Cap Contract II.
 
“Cap Contract I Counterparty”: The cap provider under each of the Cap Contracts required to make payments to the Supplemental Interest Trust for payment to the Trust Fund pursuant to the terms of the Cap Contracts, and any successor in interest or assign. Initially, the Cap Counterparty for Cap Contract I shall be Lehman Brothers Special Financing Inc. and the Cap Counterparty for Cap Contract II shall be Bear Stearns Financial Products Inc.
 
“Cash Liquidation”: As to any defaulted Mortgage Loan other than a Mortgage Loan as to which an REO Acquisition occurred, a determination by the Master Servicer that it has received all Insurance Proceeds, Liquidation Proceeds and other payments or cash recoveries which the Master Servicer reasonably and in good faith expects to be finally recoverable with respect to such Mortgage Loan.
 
“Certificate”: Any Regular Certificate or Class R Certificate.
 
“Certificate Account”: The trust account or accounts created and maintained pursuant to Section 4.01, which shall be entitled Deutsche Bank National Trust Company, in trust for registered holders of Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3, and which account or accounts must each be an Eligible Account.
 
“Certificate Account Deposit Date”: With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.
 
 

10


“Certificate Guaranty Insurance Policy”: The certificate guaranty insurance policy issued by the Certificate Insurer for the benefit of the Class AM Certificateholders.
 
“Certificate Insurer”: Ambac Assurance Corporation, a Wisconsin domiciled stock insurance corporation, or any successor thereto as provided in the Agreement.
 
“Certificate Margin”: The Certificate Margin for the Class A, Class M and Class B Certificates shall be:
 
Certificate Margin
Class
 
  (1)  
 
  (2)  
A1-A
 
0.110%
 
0.220%
A1-B
 
0.240%
 
0.480%
A1-C
 
0.360%
 
0.720%
AM
 
0.220%
 
0.440%
M-1
 
0.400%
 
0.600%
M-2
 
0.480%
 
0.720%
M-3
 
0.650%
 
0.975%
M-4
 
1.650%
 
2.475%
M-5
 
1.800%
 
2.700%
M-6
 
2.000%
 
3.000%
M-7
 
2.000%
 
3.000%
M-8
 
1.100%
 
1.650%
B
 
1.100%
 
1.650%
____________
(1) Prior to the Step-Up Date.
(2) On and after the Step-Up Date.

“Certificate Owner”: With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate, as reflected on the books of an indirect participating brokerage firm for which a Depository Participant acts as agent, if any, and otherwise on the books of a Depository Participant, if any, and otherwise on the books of the Depository.
 
“Certificate Principal Balance”: With respect to any Certificate (other than the Class C Certificates and Class R Certificates) as of any date of determination, the Initial Certificate Principal Balance thereof, increased by any Subsequent Recoveries allocated thereto, and reduced by the aggregate of (a) all amounts allocable to principal previously distributed with respect to such Certificate and (b) any reductions in the Certificate Principal Balance thereof deemed to have occurred in connection with allocations of Realized Losses in the manner described herein. With respect to the Class C Certificates as of any date of determination, an amount equal to the excess, if any, of (a) the then aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests over (b) the then aggregate Certificate Principal Balance of the Class A, Class M, Class B and Class P Certificates then outstanding. 
 
 

11


“Certificate Register”: The register maintained pursuant to Section 5.02.
 
“Certificateholder” or “Holder”: The Person in whose name a Certificate is registered in the Certificate Register, except that only a Permitted Transferee shall be a holder of a Residual Certificate for any purposes hereof and, solely for the purposes of giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor or the Master Servicer or any affiliate thereof shall be deemed not to be outstanding and the Voting Rights to which such Certificate is entitled shall not be taken into account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent has been obtained, except as otherwise provided in Section 11.01. The Trustee shall be entitled to rely upon a certification of the Depositor or the Master Servicer in determining if any Certificates are registered in the name of the respective affiliate. All references in this Agreement to “Holders” or “Certificateholders” shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified in this Agreement; provided, however, that the Trustee shall be required to recognize as a “Holder” or “Certificateholder” only the Person in whose name a Certificate is registered in the Certificate Register.
 
“Class”: Collectively, all of the Certificates bearing the same designation.
 
“Class A Certificates”: The Class A1-A, Class A1-B, Class A1-C and Class AM Certificates.
 
“Class A1-A Certificate”: Any one of the Class A1-A Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class A1-B Certificate”: Any one of the Class A1-B Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class A1-C Certificate”: Any one of the Class A1-C Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class AM Certificate”: Any one of the Class AM Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
 

12


“Class A Principal Distribution Amount”: For any Distribution Date, the excess of (1) the aggregate Certificate Principal Balance of the Class A Certificates immediately prior to such Distribution Date, over (2) the lesser of (x) 86.50% of the Aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date after giving effect to distributions made on that Distribution Date and (y) the Aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date after giving effect to distributions to be made on that Distribution Date minus the Overcollateralization Floor.
 
“Class B Certificate”: Any one of the Class B Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-2, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class C Certificates”: Any one of the Class C Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-3, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the obligation to pay Net WAC Shortfall Amounts and (iii) the right to receive Class IO Distribution Amounts.
 
“Class C Distribution Amount”: With respect to any Distribution Date, the sum of (i) the Monthly Interest Distributable Amount for the Class C Certificates for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however that on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralized Amount.
 
“Class IO Interest”: An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Supplemental Interest Trust, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.
 
“Class IO Distribution Amount”: As defined in Section 4.09 hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust with respect to the Interest Rate Swap Agreement pursuant to the sixth paragraph of Section 4.01(a) (except for the last sentence thereof) on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 4.09 hereof. 
 
“Class M Certificates”: The Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates.
 
“Class M Interest Reserve Fund”: A reserve fund to cover Net WAC Shortfall Amounts on the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates as described in Section 4.13.
 
 

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“Class M Interest Reserve Fund Amount”: The Class M-4 Interest Reserve Fund Amount, Class M-5 Interest Reserve Fund Amount, Class M-6 Interest Reserve Fund Amount and Class M-7 Interest Reserve Fund Amount, as applicable.
 
“Class M-1 Certificate”: Any one of the Class M-1 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-2 Certificate”: Any one of the Class M-2 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-3 Certificate”: Any one of the Class M-3 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-4 Certificate”: Any one of the Class M-4 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-4 Interest Reserve Fund Amount”: The amount deposited in the Class M Interest Reserve Fund on the Closing Date by the Depositor to cover Net WAC Shortfall Amounts on the Class M-4 Certificates, reduced by any distributions to the Class M-4 Certificates pursuant to Section 4.13 on previous Distribution Dates. Initially, $80,900.
 
“Class M-5 Certificate”: Any one of the Class M-5 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-5 Interest Reserve Fund Amount”: The amount deposited in the Class M Interest Reserve Fund on the Closing Date by the Depositor to cover Net WAC Shortfall Amounts on the Class M-5 Certificates, reduced by any distributions to the Class M-5 Certificates pursuant to Section 4.13 on previous Distribution Dates. Initially, $97,700.
 
“Class M-6 Certificate”: Any one of the Class M-6 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
 

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“Class M-6 Interest Reserve Fund Amount”: The amount deposited in the Class M Interest Reserve Fund on the Closing Date by the Depositor to cover Net WAC Shortfall Amounts on the Class M-6 Certificates, reduced by any distributions to the Class M-6 Certificates pursuant to Section 4.13 on previous Distribution Dates. Initially, $118,000.
 
“Class M-7 Certificate”: Any one of the Class M-7 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class M-7 Interest Reserve Fund Amount”: The amount deposited in the Class M Interest Reserve Fund on the Closing Date by the Depositor to cover Net WAC Shortfall Amounts on the Class M-7 Certificates, reduced by any distributions to the Class M-7 Certificates pursuant to Section 4.13 on previous Distribution Dates. Initially, $104,900.
 
“Class M-8 Certificate”: Any one of the Class M-8 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3, (ii) the right to receive Net WAC Shortfall Amounts and (iii) the obligation to pay Class IO Distribution Amounts.
 
“Class P Certificate”: Any one of the Class P Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-4, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing (i) a Regular Interest in REMIC 3 and (ii) the right to receive any Master Servicer Prepayment Charge Payment Amounts.
 
“Class R Certificate”: Any one of the Class R Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-5, evidencing the ownership of the Class R-1 Interest, Class R-2 Interest and Class R-3 Interest.
 
“Class R-1 Interest”: The uncertificated Residual Interest in REMIC 1.
 
“Class R-2 Interest”: The uncertificated Residual Interest in REMIC 2.
 
“Class R-3 Interest”: The uncertificated Residual Interest in REMIC 3.
 
“Closing Date”: April 30, 2007.
 
“Code”: The Internal Revenue Code of 1986.
 
“Collateral Account”: Shall mean the segregated trust account created and maintained by the Custodian pursuant to Section 4.11 hereof.
 
 

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“Collateral Value”: The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Sponsor) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Sponsor) obtained at the time of refinancing.
 
“Commission”: The Securities and Exchange Commission.
 
“Compensating Interest”: With respect to any Distribution Date, any payments made by the Sub-Servicer or the Master Servicer from its own funds to cover Prepayment Interest Shortfalls, which shall be equal to the lesser of the sum of the Master Servicing and Subservicing Fees for the related Distribution Date, and the Prepayment Interest Shortfall for such Distribution Date.
 
“Corporate Trust Office”: The principal corporate trust office of the Trustee at which at any particular time its corporate trust business related to this Agreement shall be administered, which office at the date of the execution of this Agreement is located at 1761 East St. Andrew Place, Santa Ana, California 92705, Attention: Corporate Trust, Impac Secured Assets Corp. Series 2007-3 (IM07S3).
 
“Corresponding Certificate”: With respect to each REMIC 2 Regular Interest (other than REMIC 2 Regular Interests AA, IO and ZZ), the Certificate with the corresponding designation. With respect to each REMIC 3 Regular Interest (other than the Class IO Interest), the related Certificate representing an ownership therein.
 
“Countrywide”: Countrywide Home Loans Servicing LP, or its successor in interest.
 
“Credit Enhancement Percentage”: For any Distribution Date after the Stepdown Date, the percentage equivalent of a fraction, the numerator of which is equal to (a) the excess of (i) the Aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) over (ii) (1) before the aggregate Certificate Principal Balance of the Class A Certificates have been reduced to zero, the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account distribution of the Principal Distribution Amount for such Distribution Date), or (2) after such time, the Certificate Principal Balance of the most senior class of Subordinate Certificates outstanding (after taking into account distribution of the Principal Distribution Amount for such Distribution Date) and the denominator of which is equal to (b) the Aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period).
 
“Credit Support Annex One”: The credit support annex, dated as of April 30, 2007, between the Supplemental Interest Trust Trustee and Lehman Brothers Special Financing Inc.
 
 

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“Credit Support Annex Two”: The credit support annex, dated as of April 30, 2007, between the Supplemental Interest Trust Trustee and Bear Stearns Financial Products Inc.
 
“Current Report”: The Current Report pursuant to Section 13 or 15(d) of the Exchange Act.
 
“Curtailment”: Any Principal Prepayment made by a Mortgagor which is not a Principal Prepayment in Full. 
 
“Custodial Account”: The custodial account or accounts created and maintained pursuant to Section 3.10 in the name of a depository institution, as custodian for the Holders of the Certificates. Any such account or accounts shall be an Eligible Account.
 
“Custodian”: As defined in Section 4.11.
 
“Cut-off Date”: With respect to the Initial Mortgage Loans, April 1, 2007. With respect to the Subsequent Mortgage Loans, the applicable Subsequent Cut-off Date. References herein to the “Cut-off Date,” when used with respect to more than one Mortgage Loan, shall be to the respective Cut-off Dates for such Mortgage Loans.
 
“Cut-off Date Balance”: The sum of (a) the Aggregate Stated Principal Balance of the Initial Mortgage Loans as of the Cut-off Date and (b) the Original Pre-Funded Amount.
 
“Defaulted Mortgage Loan”: means any Mortgage Loan as to which the Mortgagor has failed to make unexcused three or more consecutive scheduled Monthly Payments.
 
“Defaulting Party”: As defined in the Interest Rate Swap Agreement.
 
“Deficiency Amount” : As applied to the Class AM Certificates, (A) with respect to each Distribution Date prior to the Final Scheduled Distribution Date, an amount equal to the sum of (i) the excess, if any, of (a) the aggregate amount of the Monthly Interest Distributable Amount on the Class AM Certificates for that Distribution Date over (b) the funds available to make payment thereof pursuant to Article IV of this Agreement for that Distribution Date and (ii) the amount of any Realized Losses allocated to the Class AM Certificates for such Distribution Date; and (B) with respect to the Final Scheduled Distribution Date and the Class AM Certificates, an amount equal to the sum of (i) the excess, if any, of (a) the amount of the Monthly Interest Distributable Amount on the Class AM Certificates for the Final Scheduled Distribution Date over (b) the funds available to make payment thereof pursuant to Article IV of this Agreement for the Final Scheduled Distribution Date and (ii) the outstanding Certificate Principal Balance of the Class AM Certificates due on the Final Scheduled Distribution Date to the extent not paid from the related Available Distribution Amount on the Final Scheduled Distribution Date. Any Deficiency Amount shall not include any Prepayment Interest Shortfalls, any Relief Act Shortfalls or any Net WAC Shortfall Amounts.
 
“Deficient Valuation”: With respect to any Mortgage Loan, a valuation by a court of competent jurisdiction of the Mortgaged Property in an amount less than the then outstanding indebtedness under the Mortgage Loan, or any reduction in the amount of principal to be paid in connection with any scheduled Monthly Payment that constitutes a permanent forgiveness of principal, which valuation or reduction results from a proceeding under the Bankruptcy Code.
 
 

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“Definitive Certificate”: Any definitive, fully registered Certificate.
 
“Deleted Mortgage Loan”: A Mortgage Loan replaced or to be replaced with a Qualified Substitute Mortgage Loan.
 
“Delinquent”: The delinquency method used for calculations with respect to the mortgage loans will be in accordance with the methodology used by lenders regulated by the Office of Thrift Supervision. Under this method, a mortgage loan is considered “30 days or more Delinquent” if, as of the date of determination, the borrower fails to make the scheduled payment for the second immediately preceding Due Date of the mortgage loan prior to the close of business on such due date. A mortgage loan would be considered “60 days or more delinquent” with respect to such scheduled payment if, as of the date of determination, the borrower fails to make the scheduled payment for the third immediately preceding Due Date of the mortgage loan prior to the close of business on such due date. Similarly for “90 days or more delinquent” and so on. Unless otherwise specified, with respect to any date of determination, determinations of delinquency are made as of the last day of the calendar month immediately preceding the related Distribution Date. Mortgage Loans with Due Dates which are not the first of the month are treated as if the Due Date were the first of the following month.
 
“Depositor” Impac Secured Assets Corp., or its successor in interest.
 
“Depository”: The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a “clearing corporation” as defined in Section 8-102(5) of the Uniform Commercial Code of the State of New York and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.
 
“Depository Participant”: A broker, dealer, bank or other financial institutions or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository.
 
“Derivative Account”: As defined in Section 4.09(i).
 
“Derivative Contract”: Any of the Cap Contracts or Interest Rate Swap Agreement, as applicable.
 
“Derivative Termination Payment”: Any termination payment due under a Derivative Contract upon the early termination of such Derivative Contract.
 
“Determination Date”: With respect to any Distribution Date, the 15th day of the month in which such Distribution Date occurs or, if such day is not a Business Day, on the immediately preceding Business Day.
 
 

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“Disqualified Organization”: Any organization defined as a “disqualified organization” under Section 860E(e)(5) of the Code, which includes any of the following: (i) the United States, any State or political subdivision thereof, any possession of the United States, or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject to tax and, except for the Freddie Mac, a majority of its board of directors is not selected by such governmental unit), (ii) a foreign government, any international organization, or any agency or instrumentality of any of the foregoing, (iii) any organization (other than certain farmers' cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the Code on unrelated business taxable income), (iv) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code and (v) any other Person so designated by the Trustee based upon an Opinion of Counsel that the holding of an Ownership Interest in a Class R Certificate by such Person may cause REMIC 1, REMIC 2 or REMIC 3 or any Person having an Ownership Interest in any Class of Certificates (other than such Person) to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R Certificate to such Person. The terms “United States”, “State” and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.
 
“Distribution Date”: The 25th day of any month, or if such 25th day is not a Business Day, the Business Day immediately following such 25th day, commencing in May 2007.
 
“Distribution Report”: The Asset-Backed Issuer Distribution Report pursuant to Section 13 or 15(d) of the Exchange Act. 
 
“Due Date”: With respect to each Mortgage Loan, the first day of the month of the related Distribution Date.
 
“Due Period”: With respect to any Distribution Date, the period commencing on the second day of the month preceding the month in which such Distribution Date occurs (or, with respect to the first Due Period, the day following the Cut-off Date) and ending on the first day of the month in which such Distribution Date occurs.
 
“Eligible Account”: Any of (i) a segregated account maintained with a federal or state chartered depository institution (A) the short-term obligations of which are rated A-1+ or better by Standard & Poor's and P-1 by Moody's at the time of any deposit therein or if such account is maintained with PNC Bank, National Association, rated no less than A-1 by Standard & Poor’s and no less than P-1 by Moody’s or (B) insured by the FDIC (to the limits established by such Corporation), the uninsured deposits in which account are otherwise secured such that, as evidenced by an Opinion of Counsel (obtained by the Person requesting that the account be held pursuant to this clause (ii)) delivered to the Trustee prior to the establishment of such account, the Certificateholders will have a claim with respect to the funds in such account and a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments, each of which shall mature not later than the Business Day immediately preceding the Distribution Date next following the date of investment in such collateral or the Distribution Date if such Permitted Investment is an obligation of the institution that maintains the Certificate Account, Insurance Account or Custodial Account) securing such funds that is superior to claims of any other depositors or general creditors of the depository institution with which such account is maintained, (ii) a segregated trust account or accounts maintained with a federal or state chartered depository institution or trust company subject to regulations regarding fiduciary funds on deposit similar to Title 12 of the Code of Federal Regulations Section 9.10(b), which, in either case, has corporate trust powers, acting in its fiduciary capacity or (iii) a segregated account or accounts of a depository institution acceptable to the Rating Agencies (as evidenced in writing by the Rating Agencies that use of any such account as the Custodial Account or the Certificate Account will not have an adverse effect on the then-current ratings assigned to the Classes of the Certificates then rated by the Rating Agencies). Eligible Accounts may bear interest.
 
 

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“Estimated Swap Termination Payment”: As defined in the Interest Rate Swap Agreement.
 
“Event of Default”: One or more of the events described in Section 7.01.
 
“Excess Proceeds”: As defined in Section 3.22.
 
“Exchange Act”: The Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.
 
“Extra Principal Distribution Amount”: With respect to any Distribution Date, the lesser of (x) the Overcollateralization Deficiency Amount for such Distribution Date and (y) the sum of (1) the Net Monthly Excess Cashflow Amount for such Distribution Date and (2) amounts available from the Supplemental Interest Trust to pay principal as provided in Section 4.01(f)(iii) hereof. 
 
“Fannie Mae”: Fannie Mae (formerly, Federal National Mortgage Association) or any successor thereto.
 
“FDIC”: Federal Deposit Insurance Corporation or any successor.
 
“Final Scheduled Distribution Date”: The Distribution Date occurring in September 2037.
 
“Freddie Mac”: Federal Home Loan Mortgage Corporation or any successor.
 
“Gross Margin”: With respect to any Mortgage Loan, the percentage set forth as the “Gross Margin” for such Mortgage Loan on the Mortgage Loan Schedule, as adjusted from time to time in accordance with the terms of this Agreement.
 
“Index”: With respect to any Mortgage Loan, the index for the adjustment of the Mortgage Rate set forth as such on the related Mortgage Note.
 
“Initial Certificate Principal Balance”: With respect to each Class of Regular Certificates, the Initial Certificate Principal Balance of such Class of Certificates as set forth in the Preliminary Statement hereto, or with respect to any single Certificate, the Initial Certificate Principal Balance as stated on the face thereof.
 
 

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“Initial Interest Coverage Deposit”: $898,160.00.
 
“Initial Mortgage Loans“: Any of the Mortgage Loans included in the Trust Fund as of the Closing Date as indicated on the Mortgage Loan Schedule attached hereto.
 
“Initial Notional Amount”: With respect to the Class C Certificates, an amount equal to the Notional Balance of the Class C Certificates, or with respect to any single Certificate, the Initial Notional Amount as stated on the face thereof. 
 
“Insurance Account”: The segregated, non-interest bearing trust account created and maintained pursuant to Section 4.12(ii) of this Agreement. The Insurance Account shall be an Eligible Account. 
 
“Insurance Agreement”: The Insurance and Indemnity Agreement, dated as of April 30, 2007, among the Certificate Insurer, the Depositor, the Sponsor, the Master Servicer, the Trustee and Impac Mortgage Holdings, Inc., in regard to the Class AM Certificates, as such agreement may be amended, modified or supplemented from time to time.
 
“Insurance Policy”: With respect to any Mortgage Loan, any insurance policy (including a PMI Insurer Policy) which is required to be maintained from time to time under this Agreement in respect of such Mortgage Loan.
 
“Insurance Proceeds”: Proceeds paid in respect of the Mortgage Loans pursuant to any Primary Hazard Insurance Policy, any title insurance policy or any other insurance policy covering a Mortgage Loan, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing mortgage loans held for its own account.
 
“Insured Amounts”: Shall mean (1) with respect to any Distribution Date, any Deficiency Amount plus any Preference Amount and (2) with respect to the Final Scheduled Distribution Date, the Deficiency Amount for the Final Scheduled Distribution Date.
 
“Insurer Default”: An insurer default will occur in the event the Certificate Insurer fails to make a payment under the Certificate Guaranty Insurance Policy or if certain events of bankruptcy or insolvency occur with respect to the Certificate Insurer.
 
“Interest Coverage Account”: A trust account that the Trustee will establish for the benefit of the Certificateholders.
 
“Interest Coverage Distribution Amount": With respect to each Distribution Date, an amount equal to (x) the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs, weighted based on the Stated Principal Balances of such Mortgage Loans as of the beginning of the related Due Period, multiplied by (y) the sum of (A) the remaining Pre-Funded Amount outstanding as of the beginning of the related Due Period and (B) the aggregate Stated Principal Balance of the Subsequent Mortgage Loans transferred to the Trust during the related Due Period that do not have a Subsequent Cut-off Date prior to the beginning of the related Due Period, divided by (z) 12.
 
 

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“Interest Rate Swap Agreement”: An interest rate swap agreement, dated as of April 30, 2007, between the Supplemental Interest Trust, by Deutsche Bank National Trust Company, as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust, and the Swap Provider for the benefit of the Class A, Class M and Class B Certificates, together with any schedules, confirmations or other agreements relating thereto, a form of which is attached hereto as Exhibit M.
 
“Interest Remittance Amount”: With respect to any Distribution Date, that portion of the Available Distribution Amount for such Distribution Date that represents interest received or advanced with respect to the Mortgage Loans or amounts received from the Interest Coverage Account.
 
“Late Collections”: With respect to any Mortgage Loan, all amounts received during any Due Period, whether as late payments of Monthly Payments or as Insurance Proceeds, Liquidation Proceeds or otherwise, which represent late payments or collections of Monthly Payments due but Delinquent for a previous Due Period and not previously recovered.
 
“LIBOR”: With respect to any Distribution Date and the Pass-Through Rates on the Class A Certificates and Subordinate Certificates, the arithmetic mean of the London interbank offered rate quotations of reference banks (which will be selected by the Trustee after consultation with the Master Servicer) for one-month U.S. dollar deposits, expressed on a per annum basis, determined in accordance with Section 1.02.
 
“LIBOR Business Day”: Any day other than (i) Saturday or Sunday or (ii) a day on which banking institutions in the city of London, England and New York City are required or authorized by law to be closed.
 
“LIBOR Rate Adjustment Date”: With respect to each Distribution Date, the second LIBOR Business Day immediately preceding the commencement of the related Accrual Period.
 
“Liquidated Mortgage Loan”: As to any Distribution Date, any Mortgage Loan in respect of which the Master Servicer has determined, in accordance with the servicing procedures specified herein, as of the end of the related Prepayment Period, that all Liquidation Proceeds which it expects to recover with respect to the liquidation of the Mortgage Loan or disposition of the related REO Property have been recovered.
 
“Liquidation Proceeds”: Amounts (other than Insurance Proceeds) received by the Master Servicer in connection with the taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or in connection with the liquidation of a defaulted Mortgage Loan through trustee’s sale, foreclosure sale or otherwise, other than amounts received in respect of any REO Property.
 
“Loan-to-Value Ratio”: As of any date, the fraction, expressed as a percentage, the numerator of which is the current principal balance of the related Mortgage Loan at the date of determination and the denominator of which is the Collateral Value of the related Mortgaged Property.
 
 

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“Lost Note Affidavit”: With respect to any Mortgage Note, an original lost note affidavit from the Sponsor stating that the original Mortgage Note was lost, misplaced or destroyed, together with a copy of the related Mortgage Note.
 
“Majority Class C Certificateholder”: The holder of a 50.01% or greater Percentage Interest of the Class C Certificates.
 
“Marker Rate”: With respect to the Class C Certificates and any Distribution Date, a per annum rate equal to two (2) times the weighted average of the Uncertificated REMIC 2 Pass-Through Rates for each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is the Corresponding Certificate and REMIC 2 Regular Interest ZZ, with the rate on each such REMIC 2 Regular Interest (other than REMIC 2 Regular Interests AM and ZZ) subject to a cap equal to the lesser of (i) the Pass-Through Rate for the Corresponding Certificate determined without regard to the Net WAC Rate for such Distribution Date, and (ii) the Net WAC Rate for the REMIC 3 Regular Interest the ownership of which is represented by the Corresponding Certificate for such Distribution Date for the purpose of this calculation, with the rate on REMIC 2 Regular Interest AM subject to a cap equal to the lesser of (i) the Pass-Through Rate for the Corresponding Certificate determined without regard to the Net WAC Rate for such Distribution Date, and (ii) the Net WAC Rate for the REMIC 3 Regular Interest the ownership of which is represented by the Corresponding Certificate, in each case plus the Policy Premium Rate, for such Distribution Date for the purpose of this calculation, and with the rate on REMIC 2 Regular Interest ZZ subject to a cap of zero for the purpose of this calculation; provided, however, that solely for this purpose, the related cap with respect to each such REMIC 3 Regular Interest (other than REMIC 3 Regular Interest ZZ) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
 
“Master Servicer”: Impac Funding Corporation, or any successor master servicer appointed as herein provided.
 
Master Servicer Prepayment Charge Payment Amount”: The amounts payable by the Master Servicer in respect of any waived Prepayment Charges pursuant to Section 3.01, and any amount paid to the Trust Fund by any Person to remedy any breach of any representation, warranty or covenant made with respect to the Prepayment Charges to the extent the Trust Fund, as assignee, is the beneficiary of such representation, warranty or covenant.
 
“Master Servicing Fees”: With respect to each Mortgage Loan, an amount, payable out of any payment of interest on the Mortgage Loan, equal to interest at the Master Servicing Fee Rate on the Stated Principal Balance of such Mortgage Loan as of the Due Date in the calendar month preceding the month in which the payment of the Master Servicing Fee is due (alternatively, in the event such payment of interest accompanies a Principal Prepayment in part or in full made by the Mortgagor, interest for the number of days covered by such payment of interest). The Master Servicing Fee consists of servicing compensation payable to the Master Servicer in respect of its master servicing responsibilities.
 
“Master Servicing Fee Rate”: With respect to each Mortgage Loan, the per annum rate of 0.030%.
 
 

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“Maximum Uncertificated Accrued Interest Deferral Amount”: With respect to any Distribution Date, the excess of (i) the sum of (x) the accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest ZZ minus the REMIC 2 Overcollateralized Amount, in each case for such Distribution Date and (y) 1.00% of the accrued interest on REMIC 2 Regular Interest P at the applicable Uncertificated REMIC 2 Pass-Through Rate for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC 2 Regular Interests for which the Class A, Class B and Class M Certificates are the Corresponding Certificates, with the rate on each such REMIC 2 Regular Interest (other than REMIC 2 Regular Interest AM) subject to a cap equal to the lesser of (1) the Pass-Through Rate for the Corresponding Certificate determined without regard to the Net WAC Rate for such Distribution Date, and (2) the Net WAC Rate for the REMIC 3 Regular Interest the ownership of which is represented by the Corresponding Certificate for such Distribution Date for the purpose of this calculation, and with the rate on REMIC 2 Regular Interest AM subject to a cap equal to the lesser of (i) the Pass-Through Rate for the Corresponding Certificate determined without regard to the Net WAC Rate for such Distribution Date, and (ii) the Net WAC Rate for the REMIC 3 Regular Interest the ownership of which is represented by the Corresponding Certificate, in each case plus the Policy Premium Rate, for such Distribution Date for the purpose of this calculation; provided, however, that solely for this purpose, the related cap with respect to each such REMIC 2 Regular Interest shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
 
“MERS”: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
 
“MERS® System”: The system of recording transfers of Mortgages electronically maintained by MERS.
 
“MINMIN”: The Mortgage Identification Number for Mortgage Loans registered with MERS on the MERS® System.
 
“MOM Loan”: With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.
 
“Monthly Interest Distributable Amount”: For any Distribution Date and each Class of Class A, Class M, Class B and Class C Certificates and Class IO Interest, the amount of interest accrued during the related Accrual Period at the related Pass-Through Rate on the Certificate Principal Balances or Notional Balances or Uncertificated Notional Amounts of such Certificates or interests immediately prior to such Distribution Date, in each case, reduced by any Prepayment Interest Shortfalls to the extent not covered by Compensating Interest payable by the Sub-Servicer or Master Servicer and any shortfalls resulting from the application of the Relief Act (in each case to the extent allocated to such Class of Certificates or interests as set forth in Section 1.03). The Monthly Interest Distributable Amount on the Class A, Class M and Class B Certificates will be calculated on the basis of the actual number of days in the related Accrual Period and a 360 day-year. 
 
 

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“Monthly Payment”: With respect to any Mortgage Loan, the scheduled monthly payment of principal and interest on such Mortgage Loan which is payable by a Mortgagor from time to time under the related Mortgage Note as originally executed (after adjustment, if any, for Deficient Valuations occurring prior to such Due Date, and after any adjustment by reason of any bankruptcy or similar proceeding or any moratorium or similar waiver or grace period).
 
“Moody's”: Moody's Investors Service, Inc., or its successor in interest.
 
“Mortgage”: The mortgage, deed of trust or any other instrument securing the Mortgage Loan.
 
“Mortgage File”: The mortgage documents listed in Section 2.01 pertaining to a particular Mortgage Loan and any additional documents required to be added to the Mortgage File pursuant to this Agreement and the Custodial Agreement; provided, that whenever the term “Mortgage File” is used to refer to documents actually received by the Trustee, such term shall not be deemed to include such additional documents required to be added unless they are actually so added.
 
“Mortgage Loan”: Each of the mortgage loans, transferred and assigned to the Trustee pursuant to Section 2.01, 2.04, 2.06 or 2.07 and from time to time held in the Trust Fund (including any Qualified Substitute Mortgage Loans), the mortgage loans so transferred, assigned and held being identified in the Mortgage Loan Schedule. As used herein, the term “Mortgage Loan” includes the related Mortgage Note and Mortgage.
 
“Mortgage Loan Purchase Agreement”: The Mortgage Loan Purchase Agreement dated as of April 30, 2007, among Impac Funding Corporation, as sponsor, Impac Mortgage Holdings, Inc. and the Depositor, as purchaser, and all amendments thereof and supplements thereto.
 
“Mortgage Loan Schedule”: As of any date of determination, the schedule of Mortgage Loans included in the Trust Fund. The schedule of Mortgage Loans with accompanying information transferred on the Closing Date or Subsequent Transfer Date to the Trustee as part of the Trust Fund for the Certificates, attached hereto as Exhibit H, which list shall set forth the following information with respect to each Mortgage Loan:
 
 
(i)
[reserved];
 
 
(ii)
the city, state and zip code of the Mortgaged Property;
 
 
(iii)
the original term to maturity;
 
 
(iv)
the original principal balance and the original Mortgage Rate;
 
 
(v)
the first payment date;
 
 
(vi)
[reserved];
 
 
(vii)
the type of Mortgaged Property;
 

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(viii)
the Monthly Payment in effect as of the Cut-off Date (or the related Subsequent Cut-off Date with respect to a Subsequent Mortgage Loan);
 
 
(ix)
the principal balance as of the Cut-off Date (or the related Subsequent Cut-off Date with respect to a Subsequent Mortgage Loan);
 
 
(x)
the Mortgage Rate as of the Cut-off Date (or the related Subsequent Cut-off Date with respect to a Subsequent Mortgage Loan);
 
 
(xi)
the occupancy status;
 
 
(xii)
the purpose of the Mortgage Loan;
 
 
(xiii)
the Collateral Value of the Mortgaged Property;
 
 
(xiv)
the remaining term to maturity;
 
 
(xv)
the paid-through date of the Mortgage Loan;
 
 
(xvi)
the Master Servicing Fee Rate;
 
 
(xvii)
the Sub-Servicing Fee Rate;
 
 
(xviii)
the Net Mortgage Rate for the Mortgage Loan;
 
 
(xix)
whether such Mortgage Loan is a PMI Mortgage Loan and, if so, the related PMI Insurer Fee Rate;
 
 
(xx)
whether the Mortgage Loan is covered by a private mortgage insurance policy or an original certificate of private mortgage insurance;
 
 
(xxi)
the documentation type;
 
 
(xxii)
the type and term of the related Prepayment Charge, if any;
 
 
(xxiii)
the Index and the Gross Margin; and
 
 
(xxiv)
the Adjustment Date frequency and Distribution Date frequency.
 
The Mortgage Loan Schedule may be in the form of more than one schedule, collectively setting forth all of the information required.
 
“Mortgage Note”: The note or other evidence of the indebtedness of a Mortgagor under a Mortgage Loan.
 
“Mortgage Rate”: With respect to any Mortgage Loan, the annual rate at which interest accrues on such Mortgage Loan in the absence of default, as adjusted from time to time in accordance with the provisions of the Mortgage Note.
 
 

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“Mortgaged Property”: The underlying property securing a Mortgage Loan.
 
“Mortgagor”: The obligor or obligors on a Mortgage Note.
 
“Net Liquidation Proceeds”: With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Master Servicing Fees, Sub-Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.
 
“Net Monthly Excess Cashflow”: With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount and (b) the excess of (x) the Interest Remittance Amount for such Distribution Date over (y) the aggregate Monthly Interest Distributable Amount for the Class A, Class M and Class B Certificates for such Distribution Date and any Unpaid Interest Shortfall Amount payable to the Class A Certificateholder for such Distribution Date.
 
“Net Mortgage Rate”: With respect to each Mortgage Loan Due Date, the then applicable Mortgage Rate thereon minus the sum of (1) the Master Servicing Fee Rate, (2) the Subservicing Fee Rate, (3) the Trustee Fee and (4) the related PMI Insurer Fee Rate, if such Mortgage Loan is a PMI Mortgage Loan.
 
“Net Prepayment Interest Shortfall”: With respect to any Distribution Date, the excess, if any, of any Prepayment Interest Shortfalls for such date over the related Compensating Interest.
 
“Net Swap Payment”: With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Interest Rate Swap Agreement by either the Swap Provider or the Supplemental Interest Trust, which net payment shall not take into account any Swap Termination Payment.
 
“Net WAC Rate”: With respect to the Class A, Class M and Class B Certificates and any Distribution Date, a per annum rate equal to the excess, if any, of (A) the weighted average of (x) a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs and (y) the amount of interest withdrawn from the Interest Coverage Account with respect to that distribution date expressed as a per annum rate based on the amount on deposit in the Pre-Funding Account, in the case of (x), weighted on the basis of the aggregate Stated Principal Balance of the mortgage loans as of the beginning of the related Due Period, and in the case of (y), weighted on the basis of the Pre-Funded Amount as of the beginning of the related Due Period, over (B) the sum of (I) the sum of (1) a per annum rate equal to the Net Swap Payment payable to the Swap Provider on such Distribution Date, divided by the outstanding Stated Principal Balance of the Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs plus the Pre-Funded Amount for such Distribution Date, multiplied by 12, and (2) a per annum rate equal to any Swap Termination Payment not due to a Swap Provider Trigger Event payable to the Swap Provider on such Distribution Date, divided by the outstanding Stated Principal Balance of the Mortgage Loans as of the first day of the calendar month preceding the month in which the Distribution Date occurs plus the Pre-Funded Amount for such Distribution Date, multiplied by 12, and (II) in the case of the Class AM Certificates only, the Policy Premium Rate. The Net WAC Rate will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. With respect to any Distribution Date and the REMIC 3 Regular Interests the ownership of which is represented by the Class A, Class M and Class B Certificates, a per annum rate equal to the weighted average (adjusted for the actual number of days elapsed in the related Accrual Period) of the Uncertificated REMIC 2 Pass-Through Rates on the REMIC 2 Regular Interests (other than REMIC 2 Regular Interest IO), weighted on the basis of the Uncertificated Principal Balances of each such REMIC 2 Regular Interest immediately prior to such Distribution Date, minus, in the case of the REMIC 3 Regular Interests the ownership of which is represented by the Class AM Certificates, the Policy Premium Rate.
 
 

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“Net WAC Shortfall Amount”: With respect to any Distribution Date, the sum of (i) if the Pass-Through Rate for any of the Class A, Class M and Class B Certificates is limited to the Net WAC Rate, the excess, if any, of (a) the amount of interest such Class A, Class M and Class B Certificates would have been entitled to receive on such Distribution Date if such Net WAC Rate would not have been applicable to such Certificates, over (b) the amount of interest accrued on such Certificates at such Net WAC Rate, and (ii) the Net WAC Shortfall Amount from the prior Distribution Date not previously distributed together with interest thereon at the related Pass-Through Rate for the most recently ended Accrual Period.
 
“Net WAC Shortfall Reserve Fund”: A reserve fund established by the Trustee for the benefit of the Holders of the Class A, Class M, Class B and Class C Certificates, and funded on the Closing Date by or on behalf of the Depositor with an amount equal to the Net WAC Shortfall Reserve Fund Deposit. The Net WAC Shortfall Reserve Fund is an “outside reserve fund” within the meaning of Treasury regulation Section 1.860G-2(h), which is not an asset of any REMIC, the ownership of which is evidenced by the Class C Certificates and which is established and maintained pursuant to Section 4.08.
 
“Net WAC Shortfall Reserve Fund Deposit”: With respect to the Net WAC Shortfall Reserve Fund, an amount equal to $5,000, which the Depositor shall fund initially pursuant to Section 4.08 hereof. 
 
“Nonrecoverable Advance”: Any Advance or Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan which, in the reasonable good faith judgment of the Master Servicer, will not or, in the case of a proposed Advance or Servicing Advance, would not be ultimately recoverable from Late Collections, Insurance Proceeds, Liquidation Proceeds or REO Proceeds. The determination by the Master Servicer that it has made a Nonrecoverable Advance or that any proposed Advance or Servicing Advance would constitute a Nonrecoverable Advance, shall be evidenced by a certificate of a Servicing Officer delivered to the Depositor and the Trustee.
 
“Non-United States Person”: Any Person other than a United States Person.
 
“Notional Balance”: With respect to the Class C Certificates and any Distribution Date, an amount equal to the Stated Principal Balance of the Mortgage Loans as of the related Due Date, minus the Certificate Principal Balance of the Class P Certificates. For federal income tax purposes, the Notional Balance of the Class C Certificates for any Distribution Date shall be an amount equal to the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests, other than REMIC 2 Regular Interest P, for such Distribution Date. 
 
 

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“Officers’ Certificate”: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a vice president and by the Treasurer, the Secretary, or one of the assistant treasurers or assistant secretaries of the Depositor, the Sponsor, the Master Servicer or of any Sub-Servicer and delivered to the Depositor and Trustee.
 
“One Month LIBOR”: The London interbank offered rate for one-month United States dollar deposits, determined as described in Section 1.02 of this Agreement.
 
“Opinion of Counsel”: A written opinion of counsel, who may be counsel for the Depositor, the Sponsor, or the Master Servicer, reasonably acceptable to the Trustee; except that any opinion of counsel relating to (a) the qualification of any account required to be maintained pursuant to this Agreement as an Eligible Account, (b) the qualification of REMIC 1, REMIC 2, or REMIC 3 as REMICs, (c) compliance with the REMIC Provisions or (d) resignation of the Master Servicer pursuant to Section 6.04 must be an opinion of counsel who (i) is in fact independent of the Depositor and the Master Servicer, (ii) does not have any direct financial interest or any material indirect financial interest in the Depositor or the Master Servicer or in an affiliate of either and (iii) is not connected with the Depositor or the Master Servicer as an officer, employee, director or person performing similar functions.
 
“Optional Termination Date”: The first Distribution Date on which the Master Servicer may opt to terminate the Trust Fund pursuant to Section 9.01.
 
“Original Pre-Funded Amount”: $76,186,815.65.
 
“OTSOTS”: Office of Thrift Supervision or any successor.
 
“Outstanding Mortgage Loan”: As to any Due Date, a Mortgage Loan (including an REO Property) which was not the subject of a Principal Prepayment in Full, Cash Liquidation or REO Disposition and which was not purchased prior to such Due Date pursuant to Sections 2.02, 2.04 or 3.14.
 
“Overcollateralization Deficiency Amount”: With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (after giving effect to distributions in respect of the Basic Principal Distribution Amount on such Distribution Date).
 
“Overcollateralization Floor”: With respect to any Distribution Date, 0.50% of the Cut-off Date Balance.
 
“Overcollateralization Release Amount”: With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal payment on such Distribution Date) over (ii) the Overcollateralization Target Amount for such Distribution Date.
 
 

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“Overcollateralization Target Amount”: With respect to any Distribution Date prior to the Stepdown Date, 0.95% of the Cut-off Date Balance. With respect to any Distribution Date on or after the Stepdown Date, the greater of (x) 1.90% of the aggregate Stated Principal Balance of the Mortgage Loans and (y) the Overcollateralization Floor; provided, however, that if a Trigger Event is in effect on any Distribution Date, the Overcollateralization Target Amount will be equal to the Overcollateralization Target Amount on the prior Distribution Date.
 
“Overcollateralized Amount”: For any Distribution Date, the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Loans (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, unscheduled collections of principal received during the related Prepayment Period and any Realized Losses on the Mortgage Loans during the related Prepayment Period) plus the Pre-Funded Amount for such Distribution Date, exceeds (ii) the aggregate Certificate Principal Balance of the Class A, Class M, Class B and Class P Certificates as of such Distribution Date (after giving effect to distributions to be made on such Distribution Date).
 
“Ownership Interest”: As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.
 
“Pass-Through Rate”: With respect to any Distribution Date and the Class A, Class M and Class B Certificates, the least of (x) One-Month LIBOR plus the related Certificate Margin, (y) 11.50% and (z) the Net WAC Rate. 
 
With respect to the Class C Certificates and any Distribution Date, the sum of (x) a per annum rate equal to the percentage equivalent of a fraction, the numerator of which is the sum of the amount determined for each REMIC 2 Regular Interest (other than REMIC 2 Regular Interests IO and P) equal to the product of (a) the excess, if any, of the Uncertificated REMIC 2 Pass-Through Rate for such REMIC 2 Regular Interest over the Marker Rate and (b) a notional amount equal to the Uncertificated Principal Balance of such REMIC 2 Regular Interest, and the denominator of which is the aggregate Uncertificated Principal Balance of such REMIC 2 Regular Interests, and (y) 100% of the interest distributable in respect of REMIC 2 Regular Interest P.
 
With respect to each of the Class P Certificates and any Distribution Date, 0.00% per annum.
 
With respect to the Class IO Interest and any Distribution Date, 100% of the amounts distributable to REMIC 2 Regular Interest IO for such Distribution Date.
 
“Percentage Interest”: With respect to any Regular Certificate, the undivided percentage ownership interest in the related Class evidenced by such Certificate, which percentage ownership interest shall be equal to the Initial Certificate Principal Balance thereof divided by the aggregate Initial Certificate Principal Balance of all of the Certificates of the same Class. With respect to any Class R Certificate, the interest in distributions to be made with respect to such Class evidenced thereby, expressed as a percentage, as stated on the face of each such Certificate.
 
 

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“Permitted Investment”: One or more of the following:
 
(i) obligations of or guaranteed as to principal and interest by the United States or any agency or instrumentality thereof when such obligations are backed by the full faith and credit of the United States;
 
(ii) repurchase agreements on obligations specified in clause (i) maturing not more than one month from the date of acquisition thereof, provided that the unsecured obligations of the party agreeing to repurchase such obligations are at the time rated by each Rating Agency in its highest short-term rating available, provided, however, that such repurchase agreements are treated as financings under generally accepted accounting principles (“GAAP”);
 
(iii) federal funds, certificates of deposit, demand deposits, time deposits and bankers' acceptances (which shall each have an original maturity of not more than 90 days and, in the case of bankers' acceptances, shall in no event have an original maturity of more than 365 days or a remaining maturity of more than 30 days) denominated in United States dollars of any U.S. depository institution or trust company incorporated under the laws of the United States or any state thereof or of any domestic branch of a foreign depository institution or trust company; provided that the debt obligations of such depository institution or trust company (or, if the only Rating Agency is Standard & Poor's, in the case of the principal depository institution in a depository institution holding company, debt obligations of the depository institution holding company) at the date of acquisition thereof have been rated by each Rating Agency in its highest short-term rating available; and provided further that, if the only Rating Agency is Standard & Poor's and if the depository or trust company is a principal subsidiary of a bank holding company and the debt obligations of such subsidiary are not separately rated, the applicable rating shall be that of the bank holding company; and, provided further that, if the original maturity of such short-term obligations of a domestic branch of a foreign depository institution or trust company shall exceed 30 days, the short-term rating of such institution shall be A-1+ in the case of Standard & Poor's if Standard & Poor's is the Rating Agency;
 
(iv) commercial paper (having original maturities of not more than 365 days) of any corporation incorporated under the laws of the United States or any state thereof which on the date of acquisition has been rated by Moody's and Standard & Poor's in their highest short-term ratings available; provided that such commercial paper shall have a remaining maturity of not more than 30 days;
 
(v) a money market fund or a qualified investment fund rated by Moody's in its highest long-term ratings available or rated AAAm or AAAm-G by Standard & Poor's, including any such funds for which Deutsche Bank National Trust Company or any affiliate thereof serves as an investment advisor, manager, administrator, shareholder, servicing agent, and/or custodian or sub-custodian; and
 
(vi) other obligations or securities that are acceptable to each Rating Agency as a Permitted Investment hereunder and will not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency, as evidenced in writing;

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provided, however, that no instrument shall be a Permitted Investment if it represents, either (1) the right to receive only interest payments with respect to the underlying debt instrument or (2) the right to receive both principal and interest payments derived from obligations underlying such instrument and the principal and interest payments with respect to such instrument provide a yield to maturity greater than 120% of the yield to maturity at par of such underlying obligations.
 
To the extent that the Trustee receives any materials in connection with the holding of any Permitted Investment which require the holder to vote, the Trustee shall not exercise its voting rights.
 
Permitted Investments shall not be sold prior to maturity, except that a money market fund or qualified investment fund may be liquidated at any time.
 
“Permitted Transferee”: Any transferee of a Residual Certificate other than a Disqualified Organization, a Non-United States Person or an “electing large partnership” (as defined in Section 775 of the Code).
 
“PersonPerson”: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
 
“PMI Insurer”: Any provider of primary mortgage insurance under a PMI Insurer Policy.
 
“PMI Insurer Fee Rate”: With respect to each PMI Mortgage Loan, the per annum rate payable to the applicable PMI Insurer under the related PMI Insurer Policy. 
 
“PMI Insurer Policy”: The lender-paid primary mortgage insurance policy issued by the PMI Insurer in accordance with a letter between the Sponsor and any PMI Insurer.
 
“PMI Mortgage Loan”: Any mortgage loan covered by the PMI Insurer Policy.
 
“Policy Premium”: The premium set forth in the Certificate Guaranty Insurance Policy.
 
“Policy Premium Rate”: The rate per annum set forth in the Insurance Agreement. 
 
“Pre-Funded Amount”: The amount on deposit in the Pre-Funding Account on any date of determination.
 
“Pre-Funding Account”: An account established by the Trustee for the benefit of the Certificateholders and funded on the Closing Date by the Depositor with the Original Pre-Funded Amount.
 
“Pre-Funding Period”: The period from the Closing Date until the earlier of (i) the date on which the amount on deposit in the Pre-Funding Account is reduced to less than $50,000 or (ii) June 29, 2007.
 
 

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“Preference Amount”: Any amount previously distributed to a Class AM Certificateholder by or on behalf of the Trust Estate that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code (11 U.S.C.), as amended from time to time, in accordance with a final nonappealable order of a court having competent jurisdiction.
 
“Prepayment Assumption”: As defined in the Prospectus Supplement.
 
“Prepayment Charge”: With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a full or partial prepayment of such Mortgage Loan in accordance with the terms thereof (other than any Master Servicer Prepayment Charge Payment Amount).
 
“Prepayment Interest Excess”: With respect to any Distribution Date, for each Mortgage Loan that was the subject of a Principal Prepayment during the portion of the Prepayment Period from the related Due Date to the end of such Prepayment Period, any payment of interest received in connection therewith (net of any applicable Servicing Fee) representing interest accrued for any portion of such month of receipt.
 
“Prepayment Interest Shortfall”: As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the related Prepayment Period, an amount equal to the excess of one month’s interest at the Net Mortgage Rate on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate) paid by the Mortgagor for such Prepayment Period to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month’s interest at the Net Mortgage Rate on the amount of such Curtailment.
 
“Prepayment Period”: With respect to any Distribution Date, the period between the 16th of the month prior to such Distribution Date and the 15th of the current month, except the initial Prepayment Period will run from April 1, 2007 through May 15, 2007. 
 
“Primary Hazard Insurance Policy”: Each primary hazard insurance policy required to be maintained pursuant to Section 3.13.
 
“Primary Insurance Policy”: Any primary policy of mortgage guaranty insurance including the PMI Insurer Policy, or any replacement policy therefor.
 
“Principal Distribution Amount”: With respect to any Distribution Date, an amount equal to the sum of the Basic Principal Distribution Amount plus the Extra Principal Distribution Amount.
 
“Principal Prepayment”: Any payment of principal made by the Mortgagor on a Mortgage Loan which is received in advance of its scheduled Due Date and which is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.
 
“Principal Prepayment in Full”: Any Principal Prepayment made by a Mortgagor of the entire unpaid principal balance of the Mortgage Loan.
 
 

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“Principal Remittance Amount”: With respect to any Distribution Date, the sum of the following from the Available Distribution Amount: (i) each scheduled payment of principal collected or advanced on the Mortgage Loans by the Master Servicer that were due during the related Due Period, (ii) the principal portion of all partial and full Principal Prepayments of the Mortgage Loans applied by the Master Servicer during the related Prepayment Period, (iii) the principal portion of all Net Liquidation Proceeds, REO Proceeds, Insurance Proceeds, and Subsequent Recoveries received during the related Prepayment Period, (iv) the principal portion of proceeds of Mortgage Loan purchases made pursuant to Section 2.02, 2.04, 3.14 or 3.27, in each case received or made during the related Prepayment Period, (v) the principal portion of any related Substitution Adjustments deposited in the Custodial Account during the related Prepayment Period, (vi) any amount attributable to the Pre-Funded Amount received at the end of the Pre-Funding Period and (vii) on the Distribution Date on which the Trust Fund is to be terminated pursuant to Section 9.01, the principal portion of the termination price received from the Master Servicer in connection with a termination of the Trust Fund to occur on such Distribution Date.
 
“Prospectus Supplement”: That certain Prospectus Supplement dated April 27, 2007 relating to the public offering of the Class A Certificates and Class M Certificates.
 
“Purchase Price”: With respect to any Mortgage Loan (or REO Property) required to be purchased pursuant to Section 2.02, 2.04, 3.14 or 3.27, an amount equal to the sum of (i) 100% of the Stated Principal Balance thereof, (ii) unpaid accrued interest (or REO Imputed Interest) at the applicable Net Mortgage Rate on the Stated Principal Balance thereof outstanding during each Due Period that such interest was not paid or advanced, from the date through which interest was last paid by the Mortgagor or advanced and distributed to Certificateholders together with unpaid Master Servicing Fees, Sub-Servicing Fees and, if such Mortgage Loan is a PMI Mortgage Loan, fees due the PMI Insurer at the PMI Insurer Fee Rate, from the date through which interest was last paid by the Mortgagor, in each case to the first day of the month in which such Purchase Price is to be distributed, (iii) the aggregate of all Advances and Servicing Advances made in respect thereof that were not previously reimbursed and (iv) costs and damages incurred by the Trust Fund in connection with a repurchase pursuant to Section 2.04 hereof that arises out of a violation of any anti-predatory lending law which also constitutes an actual breach of representations (xii), (xxxiii), (xxxv), (xxxviii), (xxxix) or (xliii) of Section 3.1(b) of the Mortgage Loan Purchase Agreement.
 
“Qualified Insurer”: Any insurance company duly qualified as such under the laws of the state or states in which the related Mortgaged Property or Mortgaged Properties is or are located, duly authorized and licensed in such state or states to transact the type of insurance business in which it is engaged and approved as an insurer by the Master Servicer, so long as the claims paying ability of which is acceptable to the Rating Agencies for pass-through certificates having the same rating as the Certificates rated by the Rating Agencies as of the Closing Date.
 
“Qualified Substitute Mortgage Loan”: A Mortgage Loan substituted by the Depositor for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in an Officers’ Certificate of the Sponsor delivered to the Trustee, (i) have an outstanding principal balance, after deduction of the principal portion of the monthly payment due in the month of substitution (or in the case of a substitution of more than one Mortgage Loan for a Deleted Mortgage Loan, an aggregate outstanding principal balance, after such deduction), not in excess of the Stated Principal Balance of the Deleted Mortgage Loan (the amount of any shortfall to be paid to the Master Servicer for deposit in the Custodial Account in the month of substitution); (ii) have a Mortgage Rate and a Net Mortgage Rate no lower than and not more than 1% per annum higher than the Mortgage Rate and Net Mortgage Rate, respectively, of the Deleted Mortgage Loan as of the date of substitution; (iii) have a Loan-to-Value Ratio at the time of substitution no higher than that of the Deleted Mortgage Loan at the time of substitution; (iv) have a remaining term to stated maturity not greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.04 hereof; and, (vi) comply with each non-statistical representation and warranty set forth in the Mortgage Loan Purchase Agreement.
 
 

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“Rating Agency”: Standard & Poor's or Moody's and each of their successors. If such agencies and their successors are no longer in existence, “Rating Agency” shall be such nationally recognized statistical rating agency, or other comparable Person, designated by the Depositor, notice of which designation shall be given to the Trustee and Master Servicer. References herein to the two highest long term debt rating of a Rating Agency shall mean “AA” or better in the case of Standard & Poor's and “Aa2” or better in the case of Moody's and references herein to the highest short-term debt rating of a Rating Agency shall mean “A-1+” in the case of Standard & Poor's and “P-1” in the case of Moody's, and in the case of any other Rating Agency such references shall mean such rating categories without regard to any plus or minus.
 
“Realized Loss”: With respect to each Mortgage Loan or REO Property as to which a Cash Liquidation or REO Disposition has occurred, an amount (not less than zero) equal to (i) the Stated Principal Balance of the Mortgage Loan as of the date of Cash Liquidation or REO Disposition, plus (ii) interest (and REO Imputed Interest, if any) at the Net Mortgage Rate from the Due Date as to which interest was last paid or advanced to Certificateholders up to the date of the Cash Liquidation or REO Disposition on the Stated Principal Balance of such Mortgage Loan outstanding during each Due Period that such interest was not paid or advanced, minus (iii) the proceeds, if any, received during the month in which such Cash Liquidation or REO Disposition occurred, to the extent applied as recoveries of interest at the Net Mortgage Rate and to principal of the Mortgage Loan, net of the portion thereof reimbursable to the Master Servicer or any Sub-Servicer with respect to Advances or Servicing Advances not previously reimbursed. With respect to each Mortgage Loan which has become the subject of a Deficient Valuation, the difference between the principal balance of the Mortgage Loan outstanding immediately prior to such Deficient Valuation and the principal balance of the Mortgage Loan as reduced by the Deficient Valuation.
 
“Record Date”: With respect to each Distribution Date and the Class A, Class M and Class B Certificates, so long as such Certificates are Book-Entry Certificates, the Business Day prior to such Distribution Date. With respect to any Class A, Class M and Class B Certificates which are not Book-Entry Certificates, the close of business on the last Business Day of the month preceding the month in which such Distribution Date occurs.
 
“Regular Certificate”: Any of the Certificates other than the Class R Certificates.
 
 

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“Regulation AB”: Subpart 229,1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. 
 
“Relief Act”: The Servicemembers Relief Act, as amended, and similar legislation or regulations.
 
“Relief Act Interest Shortfall”: With respect to any Distribution Date, for any Mortgage Loan with respect to which there has been a reduction in the amount of interest collectible thereon for the most recently ended Due Period as a result of the application of the Relief Act, the amount by which (i) interest collectible on such Mortgage Loan during such Due Period is less than (ii) one month's interest on the Stated Principal Balance of such Mortgage Loan at the Loan Rate for such Mortgage Loan before giving effect to the application of the Relief Act.
 
“REMIC”: A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code.
 
“REMIC 1”: The segregated pool of assets subject hereto (exclusive of any Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and, for the avoidance of doubt, any Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Interest Rate Swap Agreement) with respect to which a REMIC election is to be made, conveyed in trust to the Trustee, for the benefit of the holders of the REMIC 1 Regular Interests and the Holders of the Class R Certificates (in respect of the Class R-1 Interest), consisting of: (i) each Mortgage Loan (exclusive of payments of principal and interest due on or before the Cut-off Date, if any, received by the Master Servicer, which shall not constitute an asset of the Trust Fund) as from time to time are subject to this Agreement and all payments under and proceeds of such Mortgage Loans (exclusive of any late payment charges received on the Mortgage Loans), together with all documents included in the related Mortgage File, subject to Section 2.01; (ii) such funds or assets as from time to time are deposited in the Custodial Account or the Certificate Account and belonging to the Trust Fund; (iii) any REO Property; (iv) the Primary Hazard Insurance Policies, if any, the Primary Insurance Policies, if any, and all other Insurance Policies with respect to such Mortgage Loans; and (v) the Depositor’s interest in respect of the representations and warranties made by the Sponsor in the Mortgage Loan Purchase Agreement as assigned to the Trustee pursuant to Section 2.04 hereof.
 
“REMIC 1 Regular Interest”: Any of the separate non-certificated beneficial ownership interests in REMIC 1 issued hereunder and designated as a Regular Interest in REMIC 1. Each REMIC 1 Regular Interest shall accrue interest at the related Uncertificated REMIC 1 Pass-Through Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC 1 Regular Interests are set forth in the Preliminary Statement hereto. The REMIC 1 Regular Interests consist of REMIC 1 Regular Interests 1-1-A through REMIC 1 Regular Interest 1-60-B, REMIC 1 Regular Interest OC and REMIC 1 Regular Interest P, each as designated in the Preliminary Statement hereto.
 
 

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“REMIC 2”: The segregated pool of assets consisting of all of the REMIC 1 Regular Interests conveyed in trust to the Trustee, for the benefit of the holders of the REMIC 2 Regular Interests and the Holders of the Class R Certificates (in respect of the Class R-2 Interest), pursuant to Article II hereunder, with respect to which a separate REMIC election is to be made.
 
“REMIC 2 Interest Loss Allocation Amount”: With respect to any Distribution Date, an amount (subject to adjustment based on the actual number of days elapsed in the respective Accrual Period) equal to (a) the sum of (x) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and the REO Properties then outstanding, minus the Certificate Principal Balance of the Class P Certificates, and (ii) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest AA minus the Marker Rate, and (y) the accrued interest on REMIC 2 Regular Interest P, divided by (b) 12.
 
“REMIC 2 Overcollateralized Amount”: With respect to any date of determination, (i) 1.00% of the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests, other than REMIC 2 Regular Interest P, minus (ii) the aggregate Uncertificated Principal Balance of each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is a Corresponding Certificate, in each case, as of such date of determination.
 
“REMIC 2 Overcollateralization Target Amount”: 1.00% of the Overcollateralization Target Amount.
 
“REMIC 2 Principal Loss Allocation Amount”: With respect to any Distribution Date, an amount equal to the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and the REO Properties then outstanding, minus the Certificate Principal Balance of the Class P Certificates, and (ii) 1 minus a fraction, the numerator of which is two (2) times the aggregate Uncertificated Principal Balance of each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is a Corresponding Certificate and the denominator of which is the aggregate Uncertificated Principal Balance of each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is a Corresponding Certificate and REMIC 2 Regular Interest ZZ.
 
“REMIC 2 Regular Interest”: Any of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 Pass-Through Rate in effect from time to time, and (except for the REMIC 2 Regular Interests IO) shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC 2 Regular Interests are set forth in the Preliminary Statement hereto. 
 
“REMIC 3”: The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the holders of the Regular 3 Regular Interests and the Holders of the Class R Certificates (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
 
 

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“REMIC 3 Regular Interest”: The Class IO Interest or any Regular Interest in REMIC 3 the ownership of which is represented by any of the Regular Certificates.
 
“REMIC Provisions”: Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and proposed, temporary and final regulations and published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time. 
 
“REMIC Regular Interest”: A REMIC 1 Regular Interest or REMIC 2 Regular Interest.
 
“Remittance Report”: A report prepared by the Master Servicer providing the information set forth in Exhibit E attached hereto.
 
“REO Acquisition”: The acquisition by the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders of any REO Property pursuant to Section 3.15.
 
“REO Disposition”: The receipt by the Master Servicer of Insurance Proceeds, Liquidation Proceeds and other payments and recoveries (including proceeds of a final sale) which the Master Servicer expects to be finally recoverable from the sale or other disposition of the REO Property.
 
“REO Imputed Interest”: As to any REO Property, for any period, an amount equivalent to interest (at the Mortgage Rate that would have been applicable to the related Mortgage Loan had it been outstanding) on the unpaid principal balance of the Mortgage Loan as of the date of acquisition thereof (as such balance is reduced pursuant to Section 3.15 by any income from the REO Property treated as a recovery of principal).
 
“REO Proceeds”: Proceeds, net of directly related expenses, received in respect of any REO Property (including, without limitation, proceeds from the rental of the related Mortgaged Property and of any REO Disposition), which proceeds are required to be deposited into the Custodial Account as and when received.
 
“REO Property”: A Mortgaged Property acquired by the Master Servicer on behalf of the Trust Fund through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.
 
“Request for Release”: A release signed by a Servicing Officer, in the form of Exhibits F-1 or F-2 attached hereto.
 
“Residual Certificate”: Any of the Class R Certificates.
 
“Residual Interest”: The sole class of “residual interests” in a REMIC within the meaning of Section 860G(a)(2) of the Code.
 
 

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“Responsible Officer”: When used with respect to the Trustee, the Chairman or Vice Chairman of the Board of Directors or Trustees, the Chairman or Vice Chairman of the Executive or Standing Committee of the Board of Directors or Trustees, the President, the Chairman of the Committee on Trust Matters, any vice president, any assistant vice president, the Secretary, any assistant secretary, the Treasurer, any assistant treasurer, any trust officer or assistant trust officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer's knowledge of and familiarity with the particular subject.
 
“Schedule”: The ISDA schedule, dated as of April 30, 2007, between the Supplemental Interest Trust Trustee and the Swap Provider.
 
“Servicing Account”: The account or accounts created and maintained pursuant to Section 3.09.
 
“Servicing Advances”: All customary, reasonable and necessary “out of pocket” costs and expenses incurred in connection with a default, delinquency or other unanticipated event in the performance by the Master Servicer or any Sub-Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any enforcement or judicial proceedings, including foreclosures, including any expenses incurred in relation to any such proceedings that result from the Mortgage Loan being registered on the MERS System, (iii) the management and liquidation of any REO Property, including reasonable fees paid to any independent contractor in connection therewith, and (iv) compliance with the obligations under the fourth paragraph of Section 3.01, Section 3.09 and Section 3.13 (other than any deductible described in the last paragraph thereof).
 
“Servicing Criteria”: The “servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be amended from time to time, or those Servicing Criteria otherwise mutually agreed to by Sponsor, the Master Servicer and the applicable Sub-Servicer in response to evolving interpretations of Regulation AB and incorporated into a revised Exhibit N.
 
“Servicing Guide”: The Impac Funding Corporation Servicing Guide attached hereto as Exhibit K.
 
“Servicing Officer”: Any officer of the Master Servicer involved in, or responsible for, the administration and servicing of the Mortgage Loans, whose name and specimen signature appear on a list of servicing officers furnished to the Trustee by the Master Servicer, as such list may from time to time be amended.
 
“Single Certificate”: A Regular Certificate of any Class (other than a Class P Certificate) evidencing an Initial Certificate Principal Balance of $1,000, or, in the case of a Class P Certificate, a Certificate of such Class evidencing an Initial Certificate Principal Balance of $100.
 
“Sponsor”: Impac Funding Corporation, or its successor in interest, in its capacity as seller under the Mortgage Loan Purchase Agreement. 
 
 

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“Standard & Poor’s”: Standard & Poor's Ratings Services, a division of The McGraw Hill Companies, Inc., or its successor in interest.
 
“Startup Day”: The day designated as such pursuant to Article X hereof.
 
“Stated Principal Balance”: With respect to any Mortgage Loan or related REO Property at any given time, (i) the principal balance of the Mortgage Loan outstanding as of the Cut-off Date (or the related Subsequent Cut-off Date with respect to a Subsequent Mortgage Loan), after application of principal payments due on or before such date, whether or not received, minus (ii) the sum of (a) the principal portion of the Monthly Payments due with respect to such Mortgage Loan or REO Property during each Due Period ending prior to the most recent Distribution Date which were received or with respect to which an Advance was made, and (b) all Principal Prepayments with respect to such Mortgage Loan or REO Property, and all Insurance Proceeds, Liquidation Proceeds and REO Proceeds to the extent applied by the Master Servicer as recoveries of principal in accordance with Section 3.15 with respect to such Mortgage Loan or REO Property, which were distributed pursuant to Section 4.01 on any previous Distribution Date, and (c) any Realized Loss with respect thereto allocated pursuant to Section 4.05 for any previous Distribution Date.
 
“Step-Up Date”: The Distribution Date immediately following the first Distribution Date in which the aggregate unpaid principal balance of the Mortgage Loans, and properties acquired in respect thereof, remaining in the Trust has been reduced to less than or equal to 10% of the Cut-off Date Balance.
 
“Stepdown Date”: The earlier of (i) the first Distribution Date immediately following the Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero and (ii) the later to occur of (x) the Distribution Date occurring in May 2010 and (y) the first Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates (calculated for this purpose only, prior to any distribution of the Principal Distribution Amount to the holders of the Certificates) is less than or equal to approximately 86.50% of the aggregate principal balance of the Mortgage Loans, calculated after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period.
 
“Stepdown Target Subordination Percentage”: For each class of Subordinate Certificates, the respective percentages indicated in the following table:
 
 
Stepdown Target
Subordination Percentage
Class M-1
11.00%
Class M-2
8.70%
Class M-3
7.40%
Class M-4
6.30%
Class M-5
5.30%
Class M-6
4.40%
Class M-7
3.60%
Class M-8
2.90%
Class B
1.90%

 

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“Subordinate Certificates”: The Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates. 
 
“Subordinate Class Principal Distribution Amount”: For any class of Subordinate Certificates and any Distribution Date, the excess of (1) the sum of (a) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account distribution of the Class A Principal Distribution Amount for such Distribution Date), (b) the aggregate Certificate Principal Balance of any class(es) of Subordinate Certificates that are senior to the subject class (in each case, after taking into account distribution of the Subordinate Class Principal Distribution Amount(s) for such senior class(es) of Certificates for such Distribution Date) and (c) the Certificate Principal Balance of the subject class of Subordinate Certificates immediately prior to such Distribution Date over (2) the lesser of (a) the product of (x) 100% minus the Stepdown Target Subordination Percentage for the subject class of Certificates and (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (b) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date minus the Overcollateralization Floor; provided, however, that if such class of Subordinate Certificates is the only class of Subordinate Certificates outstanding on such Distribution Date, that class will be entitled to receive the entire remaining Principal Distribution Amount until the Certificate Principal Balance thereof is reduced to zero.
 
“Subsequent Cut-off Date”: With respect to any Subsequent Mortgage Loan, the date, as designated by the Depositor, that is the later of (i) the first day of the month in which the related Subsequent Transfer Date occurs and (ii) the origination date of such subsequent Mortgage Loan.
 
“Subsequent Mortgage Loan”: A Mortgage Loan sold by the Depositor to the Trust pursuant to Section 2.07 of this Agreement, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.
 
“Subsequent Mortgage Loan Purchase Agreement”: Any Mortgage Loan Purchase Agreement dated as of the Subsequent Cut-off Date, among Impac Funding Corporation, as seller, Impac Mortgage Holdings, Inc., as guarantor, and the Depositor as purchaser, and all amendments thereof and supplements thereto.
 
“Subsequent Recoveries”: Any Liquidation Proceeds (net of amounts owed to the Master Servicer or any Sub-Servicer with respect to the related Mortgage Loan) received after the final liquidation of a Mortgage Loan. If Subsequent Recoveries are received, they will be included as part of the Principal Remittance Amount for the following Distribution Date and distributed in accordance with the priorities described in Section 4.01 of this Agreement. In addition, after giving effect to all distributions on a Distribution Date, if any Allocated Realized Loss Amounts are outstanding, the Allocated Realized Loss Amount for the class of Class A, Class M and Class B Certificates then outstanding with the highest distribution priority will be decreased by the amount of such Subsequent Recoveries until reduced to zero (with any remaining Subsequent Recoveries applied to reduce the Allocated Realized Loss Amount of the class with the next highest distribution priority), and the Certificate Principal Balance of such class or classes of Class A, Class M and Class B Certificates will be increased by the same amount. Thereafter, such class or classes of Class A, Class M and Class B Certificates will accrue interest on the increased Certificate Principal Balance.
 
 

41


“Subsequent Transfer Date”: With respect to any Subsequent Mortgage Loan, the applicable date upon which such mortgage loan was purchased from the Sponsor with amounts on deposit in the Pre-Funding Account or other date as designated by the Sponsor.
 
“Subsequent Transfer Instrument”: With respect to the Subsequent Mortgage Loans, the Subsequent Transfer Instrument, dated as of the applicable Subsequent Transfer Date, between the Depositor and the Trustee, or such other instrument as agreed upon by the Depositor and the Trustee, a form of which is attached hereto as Exhibit S.
 
“Sub-Servicer”: Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.
 
“Sub-Servicer Remittance Date”: With respect to any Mortgage Loan subserviced by Countrywide, the 21st day of each month, or if such day is not a Business Day, the immediately preceding Business Day.
 
“Sub-Servicing Account”: An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.
 
“Sub-Servicing Agreement”: The written contract between the Master Servicer and a Sub-Servicer and any successor Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.
 
“Sub-Servicing Fees”: With respect to each Mortgage Loan, accrued interest at the Sub-Servicing Fee Rate with respect to the Mortgage Loan on the same principal balance on which interest on the Mortgage Loan accrues for the calendar month. The Sub-Servicing Fees consist of subservicing and other related compensation payable to the related Sub-Servicer or to the Master Servicer if the Master Servicer is directly servicing the loan.
 
“Sub-Servicing Fee Rate”: On each adjustable rate Mortgage Loan, a rate equal to 0.375% per annum. On each fixed rate first lien Mortgage Loan, a rate equal to 0.250% per annum. On each fixed rate second lien Mortgage Loan, a rate equal to 0.500% per annum. 
 
“Substitution Adjustment”: As defined in Section 2.04 hereof.
 
 

42


“Supplemental Interest Trust”: The corpus of a trust created pursuant to Section 4.09 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Interest Rate Swap Agreement, the Cap Contracts, the Class IO Interest, the Collateral Account and the Derivative Account. For the avoidance of doubt, the Supplemental Interest Trust does not constitute a part of the Trust Fund.
 
“Supplemental Interest Trust Trustee”: Deutsche Bank National Trust Company, or its successor in interest, or any successor trustee appointed as herein provided.
 
“Swap LIBOR”: LIBOR as determined pursuant to each Interest Rate Swap Agreement.
 
“Swap Optional Termination Payment”: As defined in Section 9.01(b) hereof.
 
“Swap Provider”: The swap provider under the Interest Rate Swap Agreement, and any successor in interest or assign. Initially, the Swap Provider shall be Lehman Brothers Special Financing Inc.
 
“Swap Provider Trigger Event”: With respect to any Distribution Date, (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party, (ii) a Termination Event under the related Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party, or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.
 
“Swap Termination Payment”: Upon the designation of an “Early Termination Date” as defined in the Interest Rate Swap Agreement, the payment to be made by the Supplemental Interest Trust to the Swap Provider or by the Swap Provider to the Supplemental Interest Trust, as applicable, pursuant to the terms of the Interest Rate Swap Agreement.
 
“Tax Matters Person”: The person designated as “tax matters person” in the manner provided under Treasury Regulation Sections 1.860F-4(d) and 301.6231(a)(7)-1T. The Holder of the greatest Percentage Interest in a class of Residual Interests in a REMIC shall be the Tax Matters Person for the related REMIC. The Trustee, or any successor thereto or assignee thereof, shall serve as tax administrator hereunder and as agent for the related Tax Matters Person.
 
“Tax ReturnsTax Returns”: The federal income tax return on Internal Revenue Service Form 1066, U.S. Real Estate Mortgage Investment Conduit Income Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation, or any successor forms, to be filed on behalf of REMIC 1, REMIC 2 and REMIC 3 due to their classification as REMICs under the REMIC Provisions, together with any and all other information, reports or returns that may be required to be furnished to the Certificateholders or filed with the Internal Revenue Service or any other governmental taxing authority under any applicable provisions of federal, state or local tax laws.
 
“Transfer”: Any direct or indirect transfer, sale, pledge, hypothecation or other form of assignment of any Ownership Interest in a Certificate.
 
“Transferee Affidavit and Agreement”: As defined in Section 5.02(e)(i)(B).
 
 

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“Transferor”: Any Person who is disposing by Transfer of any Ownership Interest in a Certificate.
 
“Transferor Affidavit”: As defined in Section 5.02(e)(i)(B).
 
“Trigger Event”: A Trigger Event is in effect with respect to any Distribution Date with respect to the Mortgage Loans if:
 
(1) the average three-month rolling percentage obtained by dividing (x) Aggregate Stated Principal Balance of Mortgage Loans that are 60 or more days delinquent (including for this purpose any such Mortgage Loans in foreclosure, Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the trust, and Mortgage Loans discharged due to bankruptcy) by (y) the Aggregate Stated Principal Balance of the Mortgage Loans, in each case, as of the last day of the previous calendar month, exceeds 42.00% multiplied by the Credit Enhancement Percentage; or
 
(2) the cumulative amount of Realized Losses incurred on the mortgage loans from the Cut-off Date through the end of the calendar month immediately preceding such Distribution Date divided by the Cut-off Date Balance of the mortgage loans exceeds (i) 0.25% with respect to the Distribution Date occurring in May 2009, plus an additional 1/12th of 0.45% for each month thereafter up to and including the Distribution Date in April 2010, (ii) 0.70% with respect to the Distribution Date occurring in May 2010, plus an additional 1/12th of 0.55% for each month thereafter up to and including the Distribution Date in April 2011, (iii) 1.25% with respect to the Distribution Date occurring in May 2011, plus an additional 1/12th of 0.50% for each month thereafter up to and including the Distribution Date in April 2012, (iv) 1.75% with respect to the Distribution Date occurring in May 2012, plus an additional 1/12th of 0.30% for each month thereafter up to and including the Distribution Date in April 2013 and (v) 2.05% with respect to the Distribution Date occurring in May 2013 and thereafter
 
For purposes of the foregoing calculation, a Mortgage Loan is considered “60 days” delinquent if a payment due on the first day of a month has not been received by the second day of the second following month.
 
“Trust Fund”: REMIC 1, REMIC 2, REMIC 3, the Net WAC Shortfall Reserve Fund, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and Master Servicer Prepayment Charge Payment Amounts.
 
“Trustee”: Deutsche Bank National Trust Company, or its successor in interest, or any successor trustee appointed as herein provided.
 
“Trustee Fee”: The fee payable to the Trustee on each Distribution Date for its services as Trustee hereunder, in an  amount equal to one-twefth of the Trustee Fee Rate multiplied by the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that prior Due Date).
 
 

44


“Trustee Fee Rate”: 0.0025% per annum.
 
“Uncertificated Accrued Interest”: With respect to each REMIC Regular Interest on each Distribution Date, an amount equal to one month's interest at the related Uncertificated Pass-Through Rate on the Uncertificated Principal Balance or Uncertificated Notional Amount of such REMIC Regular Interest. In each case, Uncertificated Accrued Interest will be reduced by any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls (allocated to such REMIC Regular Interests as set forth in Section 1.03).
 
“Uncertificated Notional Balance”: With respect to REMIC 2 Regular Interest IO and each Distribution Date listed below, the aggregate Uncertificated Principal Balance of the REMIC 1 Regular Interests ending with the designation “A” listed below:
 
Distribution
Date
REMIC 1 Regular Interests
1
1-1-A through 1-60-A
2
1-2-A through 1-60-A
3
1-3-A through 1-60-A
4
1-4-A through 1-60-A
5
1-5-A through 1-60-A
6
1-6-A through 1-60-A
7
1-7-A through 1-60-A
8
1-8-A through 1-60-A
9
1-9-A through 1-60-A
10
1-10-A through 1-60-A
11
1-11-A through 1-60-A
12
1-12-A through 1-60-A
13
1-13-A through 1-60-A
14
1-14-A through 1-60-A
15
1-15-A through 1-60-A
16
1-16-A through 1-60-A
17
1-17-A through 1-60-A
18
1-18-A through 1-60-A
19
1-19-A through 1-60-A
20
1-20-A through 1-60-A
21
1-21-A through 1-60-A
22
1-22-A through 1-60-A
23
1-23-A through 1-60-A
24
1-24-A through 1-60-A
25
1-25-A through 1-60-A
26
1-26-A through 1-60-A
27
1-27-A through 1-60-A
28
1-28-A through 1-60-A
29
1-29-A through 1-60-A
30
1-30-A through 1-60-A
31
1-31-A through 1-60-A
32
1-32-A through 1-60-A
33
1-33-A through 1-60-A
34
1-34-A through 1-60-A
35
1-35-A through 1-60-A
36
1-36-A through 1-60-A
37
1-37-A through 1-60-A
38
1-38-A through 1-60-A
39
1-39-A through 1-60-A

45



Distribution
Date
REMIC 1 Regular Interests
40
1-40-A through 1-60-A
41
1-41-A through 1-60-A
42
1-42-A through 1-60-A
43
1-43-A through 1-60-A
44
1-44-A through 1-60-A
45
1-45-A through 1-60-A
46
1-46-A through 1-60-A
47
1-47-A through 1-60-A
48
1-48-A through 1-60-A
49
1-49-A through 1-60-A
50
1-50-A through 1-60-A
51
1-51-A through 1-60-A
52
1-52-A through 1-60-A
53
1-53-A through 1-60-A
54
1-54-A through 1-60-A
55
1-55-A through 1-60-A
56
1-56-A through 1-60-A
57
1-57-A through 1-60-A
58
1-58-A through 1-60-A
59
1-59-A through 1-60-A
60
1-60-A
thereafter
$0.00

With respect to the Class IO Interest and any Distribution Date, an amount equal to the Uncertificated Notional Amount of the REMIC 2 Regular Interest IO.
 
“Uncertificated Pass-Through Rate”: The Uncertificated REMIC 1 Pass-Through Rate or Uncertificated REMIC 2 Pass-Through Rate. 
 
“Uncertificated Principal BalanceUncertificated Principal Balance”: With respect to each REMIC Regular Interest, the principal amount of such REMIC Regular Interest outstanding as of any date of determination. As of the Closing Date, the Uncertificated Principal Balance of each REMIC Regular Interest shall equal the amount set forth in the Preliminary Statement hereto as its initial Uncertificated Principal Balance. On each Distribution Date, the Uncertificated Principal Balance of each such REMIC Regular Interest shall be reduced by all distributions of principal made on such REMIC Regular Interest on such Distribution Date pursuant to Section 4.04 and, if and to the extent necessary and appropriate, shall be further reduced on such Distribution Date by Realized Losses as provided in Section 4.05. The Uncertificated Principal Balance of REMIC 2 Regular Interest ZZ shall be increased by interest deferrals as provided in Section 4.04(b)(ii). The Uncertificated Principal Balance of each REMIC Regular Interest shall never be less than zero. 
 
“Uncertificated REMIC 1 Pass-Through Rate”: With respect to REMIC 1 Regular Interests P and OC and any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs.
 
With respect to each REMIC 1 Regular Interest ending with the designation “A” and any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs multiplied by 2, subject to a maximum rate equal to 2 multiplied by the per annum fixed rate set forth in the Interest Rate Swap Agreement to be used in determining the Net Swap Payment under such agreement for such Distribution Date.
 

46


With respect to each REMIC 1 Regular Interest ending with the designation “B” and any Distribution Date, a per annum rate equal to the greater of (x) the excess of (1) 2 multiplied by the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs, over (2) 2 multiplied by the per annum fixed rate set forth in the Interest Rate Swap Agreement to be used in determining the Net Swap Payment under such agreement for such Distribution Date, and (y) 0.00%.
 
“Uncertificated REMIC 2 Pass-Through Rate”: With respect to each REMIC 2 Regular Interest (other than REMIC 2 Regular Interest IO) and any Distribution Date, a per annum rate equal to the weighted average of (i) the Uncertificated REMIC 1 Pass-Through Rates for the REMIC 1 Regular Interests ending with the designation “B”, REMIC 1 Regular Interest P and REMIC 1 Regular Interest OC for such Distribution Date, and (ii) the rates listed below for the REMIC 1 Regular Interests ending with the designation “A” for such Distribution Date, in each case weighted on the basis of the Uncertificated Principal Balances of each such REMIC 1 Regular Interest for such Distribution Date:
 
Distribution
Date
REMIC 1 Regular Interest
Rate
1
1-1-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
2
1-2-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A
Uncertificated REMIC 1 Pass-Through Rate
3
1-3-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-2-A
Uncertificated REMIC 1 Pass-Through Rate
4
1-4-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-3-A
Uncertificated REMIC 1 Pass-Through Rate
5
1-5-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-4-A
Uncertificated REMIC 1 Pass-Through Rate
6
1-6-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-5-A
Uncertificated REMIC 1 Pass-Through Rate
7
1-7-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-6-A
Uncertificated REMIC 1 Pass-Through Rate
8
1-8-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-7-A
Uncertificated REMIC 1 Pass-Through Rate
9
1-9-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-8-A
Uncertificated REMIC 1 Pass-Through Rate
10
1-10-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-9-A
Uncertificated REMIC 1 Pass-Through Rate
11
1-11-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-10-A
Uncertificated REMIC 1 Pass-Through Rate
12
1-12-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate

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Distribution
Date
REMIC 1 Regular Interest
Rate
 
1-1-A through 1-11-A
Uncertificated REMIC 1 Pass-Through Rate
13
1-13-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-12-A
Uncertificated REMIC 1 Pass-Through Rate
14
1-14-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-13-A
Uncertificated REMIC 1 Pass-Through Rate
15
1-15-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-14-A
Uncertificated REMIC 1 Pass-Through Rate
16
1-16-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-15-A
Uncertificated REMIC 1 Pass-Through Rate
17
1-17-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-16-A
Uncertificated REMIC 1 Pass-Through Rate
18
1-18-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-17-A
Uncertificated REMIC 1 Pass-Through Rate
19
1-19-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-18-A
Uncertificated REMIC 1 Pass-Through Rate
20
1-20-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-19-A
Uncertificated REMIC 1 Pass-Through Rate
21
1-21-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-20-A
Uncertificated REMIC 1 Pass-Through Rate
22
1-22-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-21-A
Uncertificated REMIC 1 Pass-Through Rate
23
1-23-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-22-A
Uncertificated REMIC 1 Pass-Through Rate
24
1-24-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-23-A
Uncertificated REMIC 1 Pass-Through Rate
25
1-25-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-24-A
Uncertificated REMIC 1 Pass-Through Rate
26
1-26-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-25-A
Uncertificated REMIC 1 Pass-Through Rate
27
1-27-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-26-A
Uncertificated REMIC 1 Pass-Through Rate
28
1-28-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-27-A
Uncertificated REMIC 1 Pass-Through Rate
29
1-29-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-28-A
Uncertificated REMIC 1 Pass-Through Rate
30
1-30-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-29-A
Uncertificated REMIC 1 Pass-Through Rate
31
1-31-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-30-A
Uncertificated REMIC 1 Pass-Through Rate
32
1-32-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate

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Distribution
Date
REMIC 1 Regular Interest
Rate
 
1-1-A through 1-31-A
Uncertificated REMIC 1 Pass-Through Rate
33
1-33-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-32-A
Uncertificated REMIC 1 Pass-Through Rate
34
1-34-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-33-A
Uncertificated REMIC 1 Pass-Through Rate
35
1-35-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-34-A
Uncertificated REMIC 1 Pass-Through Rate
36
1-36-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-35-A
Uncertificated REMIC 1 Pass-Through Rate
37
1-37-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-36-A
Uncertificated REMIC 1 Pass-Through Rate
38
1-38-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-37-A
Uncertificated REMIC 1 Pass-Through Rate
39
1-39-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-38-A
Uncertificated REMIC 1 Pass-Through Rate
40
1-40-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-39-A
Uncertificated REMIC 1 Pass-Through Rate
41
1-41-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-40-A
Uncertificated REMIC 1 Pass-Through Rate
42
1-42-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-41-A
Uncertificated REMIC 1 Pass-Through Rate
43
1-43-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-42-A
Uncertificated REMIC 1 Pass-Through Rate
44
1-44-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-43-A
Uncertificated REMIC 1 Pass-Through Rate
45
1-45-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-44-A
Uncertificated REMIC 1 Pass-Through Rate
46
1-46-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-45-A
Uncertificated REMIC 1 Pass-Through Rate
47
1-47-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-46-A
Uncertificated REMIC 1 Pass-Through Rate
48
1-48-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-47-A
Uncertificated REMIC 1 Pass-Through Rate
49
1-49-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-48-A
Uncertificated REMIC 1 Pass-Through Rate
50
1-50-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-49-A
Uncertificated REMIC 1 Pass-Through Rate
51
1-51-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-50-A
Uncertificated REMIC 1 Pass-Through Rate
52
1-52-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate

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Distribution
Date
REMIC 1 Regular Interest
Rate
 
1-1-A through 1-51-A
Uncertificated REMIC 1 Pass-Through Rate
53
1-53-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-52-A
Uncertificated REMIC 1 Pass-Through Rate
54
1-54-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-53-A
Uncertificated REMIC 1 Pass-Through Rate
55
1-55-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-54-A
Uncertificated REMIC 1 Pass-Through Rate
56
1-56-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-55-A
Uncertificated REMIC 1 Pass-Through Rate
57
1-57-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-56-A
Uncertificated REMIC 1 Pass-Through Rate
58
1-58-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-57-A
Uncertificated REMIC 1 Pass-Through Rate
59
1-59-A through 1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-58-A
Uncertificated REMIC 1 Pass-Through Rate
60
1-60-A
2 multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated REMIC 1 Pass-Through Rate
 
1-1-A through 1-59-A
Uncertificated REMIC 1 Pass-Through Rate
thereafter
1-1-A through 1-60-A
Uncertificated REMIC 1 Pass-Through Rate

With respect to REMIC 2 Regular Interest IO and any Distribution Date, a per annum rate equal to the excess of (i) the weighted average of the Uncertificated REMIC 1 Pass-Through Rates for the REMIC 1 Regular Interests ending with the designation “A” for such Distribution Date over (ii) the weighted average of 2 multiplied by Swap LIBOR on the REMIC 1 Regular Interests ending with the designation “A”, subject to a maximum rate of the Uncertificated REMIC 1 Pass-Through Rate for each such REMIC 1 Regular Interest for such Distribution Date, in each case, weighted on the basis of the Uncertificated Principal Balances of each such REMIC 1 Regular Interest for such Distribution Date.
 
“Uninsured CauseUninsured Cause”: Any cause of damage to property subject to a Mortgage such that the complete restoration of such property is not fully reimbursable by the hazard insurance policies or flood insurance policies required to be maintained pursuant to Section 3.13.
 
“United States PersonUnited States Person”: A citizen or resident of the United States, a corporation or a partnership (including an entity treated as a corporation or partnership for United States federal income tax purposes) created or organized in, or under the laws of, the United States or any State thereof or the District of Columbia (except, in the case of a partnership, to the extent provided in regulations) provided that, for purposes solely of the restrictions on the transfer of Class R Certificates, no partnership or other entity treated as a partnership for United States federal income tax purposes shall be treated as a United States Person unless all persons that own an interest in such partnership either directly or through any entity that is not a corporation for United States federal income tax purposes are required by the applicable operative agreement to be United States Persons or an estate whose income is subject to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more such United States Persons have the authority to control all substantial decisions of the trust. To the extent prescribed in regulations by the Secretary of the Treasury, which have not yet been issued, a trust which was in existence on August 20, 1996 (other than a trust treated as owned by the grantor under subpart E of part I of subchapter J of chapter 1 of the Code), and which was treated as a United States person on August 20, 1996 may elect to continue to be treated as a United States person notwithstanding the previous sentence.
 
 

50


“Unpaid Interest Shortfall AmountUnpaid Interest Shortfall Amount”: For each Class of Class A, Class M and Class B Certificates and any Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for such Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for the immediately preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such Distribution Date, plus interest on the amount of Unpaid Interest Shortfall Amount due but not paid on such Class on the immediately preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.
 
“Voting RightsVoting Rights”: The portion of the voting rights of all of the Certificates which is allocated to any Certificate. At all times during the term of this Agreement, (i) 98% of all Voting Rights will be allocated among the Holders of the Class A Certificates, the Subordinate Certificates and the Class C Certificates in proportion to the then outstanding Certificate Principal Balances of their respective Certificates, (ii) 1% of all Voting Rights will be allocated to the Holders of the Class P Certificates and (iii) 1% of all Voting Rights will be allocated to the Holders of the Class R Certificates. The Voting Rights allocated to any Class of Certificates shall be allocated among all Holders of the Certificates of such Class in proportion to the outstanding Percentage Interests in such Class represented thereby.
 
“Weighted Average Net Mortgage RateWeighted Average Net Mortgage Rate”: The weighted average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.
 
Section 1.02. Determination of LIBOR.
 
LIBOR applicable to the calculation of the Pass-Through Rate on the Class A Certificates and Subordinate Certificates for any Accrual Period will be determined on each LIBOR Rate Adjustment Date.
 
On each LIBOR Rate Adjustment Date, LIBOR shall be established by the Trustee and, as to any Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Reuters Screen LIBOR01 as of 11:00 a.m., London time, on such LIBOR Rate Adjustment Date. “Reuters Screen LIBOR01” means the display designated as such by Reuters Monitor Money Rates Services. If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be selected by the Trustee after consultation with the Master Servicer), the rate will be the Reference Bank Rate. The “Reference Bank Rate” will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Trustee after consultation with the Master Servicer) as of 11:00 a.m., London time, on the LIBOR Rate Adjustment Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Certificate Principal Balance of the Class A Certificates and Subordinate Certificates then outstanding. The Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the next multiple of 1/16%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Trustee after consultation with the Master Servicer, as of 11:00 a.m., New York City time, on such date for loans in U.S. Dollars to leading European banks for a period of one month. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Trustee shall select an alternative comparable index after consultation with the Master Servicer (over which the Trustee has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party.
 

51


The establishment of LIBOR by the Trustee on any LIBOR Rate Adjustment Date and the Trustee’s subsequent calculation of the Pass-Through Rate applicable to the Class A Certificates and Subordinate Certificates for the relevant Accrual Period, in the absence of manifest error, will be final and binding.
 
Promptly following each LIBOR Rate Adjustment Date the Trustee shall supply the Master Servicer with the results of its determination of LIBOR on such date. Furthermore, the Trustee will supply to any Certificateholder so requesting by telephone the Pass-Through Rate on the Class A Certificates and Subordinate Certificates for the current and the immediately preceding Accrual Period.
 
Section 1.03. Allocation of Certain Interest Shortfalls.
 
For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class A Certificates, the Subordinate Certificates and the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates, based on, and to the extent of, one month's interest at the then applicable Pass-Through Rate on the Notional Balance of such Certificates and, thereafter, among the Class A, Class M and Class B Certificates on a pro rata basis, based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rates on the respective Certificate Principal Balances of each such Certificate.
 
For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC 1 Regular Interests ending with the designation “B” and REMIC 1 Regular Interests P and OC, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest, and then, to REMIC 1 Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest.
 

52


For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests (other than REMIC 2 Regular Interest IO) for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, each REMIC 2 Regular Interest for which a Class A, Class B, Class M or Class P Certificate is the Corresponding Certificate and REMIC 2 Regular Interest ZZ, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 2 Regular Interest.
 

53



ARTICLE II
 
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
 
Section 2.01. Conveyance of Mortgage Loans.
 
The Depositor, as of the Closing Date, and concurrently with the execution and delivery hereof, does hereby assign, transfer, sell, set over and otherwise convey to the Trustee without recourse all the right, title and interest of the Depositor in and to the Mortgage Loans identified on the Mortgage Loan Schedule (exclusive of any prepayment fees and late payment charges received thereon) and all other assets included or to be included in the Trust Fund for the benefit of the Certificateholders, including the amount to be deposited by or on behalf of the Depositor into the Net WAC Shortfall Reserve Fund. Such assignment includes all principal and interest received by the Master Servicer on or with respect to the Mortgage Loans (other than payment of principal and interest due on or before the Cut-off Date).
 
In connection with such transfer and assignment, the Depositor has caused the Sponsor to deliver to, and deposit with the Trustee, as described in the Mortgage Loan Purchase Agreement, with respect to each Mortgage Loan, and the Depositor has caused the Sponsor to deliver to, and deposit with the Trustee, as described in accordance with Section 2.07, with respect to each Subsequent Mortgage Loan, the following documents or instruments:
 
(i) the original Mortgage Note endorsed without recourse, “Deutsche Bank National Trust Company, as trustee under the Pooling and Servicing Agreement relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3” with all intervening endorsements showing an unbroken chain of endorsements from the originator to the Person endorsing it to the Trustee or, with respect to any Mortgage Loan as to which the original Mortgage Note has been permanently lost or destroyed and has not been replaced, a Lost Note Affidavit;
 
(ii) the original recorded Mortgage, noting the presence of the MIN of the Mortgage Loan and language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan, with evidence of recording indicated thereon or, if the original Mortgage has not been returned from the public recording office, a copy of the Mortgage certified by the Sponsor or the public recording office in which such Mortgage has been recorded to be a true and complete copy of the original Mortgage submitted for recording;
 
(iii) unless the Mortgage Loan is registered on the MERS® System, a duly executed original Assignment of the Mortgage, without recourse, in recordable form to Deutsche Bank National Trust Company, as trustee,” or to “Deutsche Bank National Trust Company, as trustee for holders of Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3”;
 
(iv) the original intervening Assignments, if any, of the Mortgage showing an unbroken chain of assignment from the originator thereof to the Person assigning it to the Trustee (or to MERS, if the Mortgage Loan is registered on the MERS® System and noting the presence of a MIN) or, if any such Assignment has not been returned from the applicable public recording office, a copy of such Assignment certified by the Sponsor to be a true and complete copy of the original Assignment submitted to the title insurance company for recording;
 

54


(v) the original title insurance policy or a copy thereof, or, if such policy has not been issued, any one of an original or a copy of the preliminary title report, title binder or title commitment on the Mortgaged Property with the original policy of the insurance to be delivered promptly following the receipt thereof;
 
(vi) a copy of the related hazard insurance policy; and
 
(vii) a true and correct copy of any assumption, modification, consolidation or substitution agreement.
 
The Sponsor is obligated as described in the Mortgage Loan Purchase Agreement, with respect to the Mortgage Loans, and in accordance with Section 2.07 and the Subsequent Mortgage Loan Purchase Agreement, with respect to the Subsequent Mortgage Loans, to deliver to the Trustee: (a) either the original recorded Mortgage, or in the event such original cannot be delivered by the Sponsor, a copy of such Mortgage certified as true and complete by the appropriate recording office, in those instances where a copy thereof certified by the Sponsor was delivered to the Trustee pursuant to clause (ii) above; and (b) either the original intervening Assignments, if any, of the Mortgage, with evidence of recording thereon, showing an unbroken chain of assignment from the originator to the Sponsor, or in the event such original cannot be delivered by the Sponsor, a copy of such intervening Assignments, if any, certified as true and complete by the appropriate recording office, in those instances where copies thereof certified by the Sponsor were delivered to the Trustee pursuant to clause (iv) above. However, pursuant to the Mortgage Loan Purchase Agreement with respect to the Initial Mortgage Loans and pursuant to Section 2.07 and the Subsequent Mortgage Loan Purchase Agreement with respect to the Subsequent Mortgage Loans, the Sponsor need not cause to be recorded any assignment in any jurisdiction under the laws of which, as evidenced by an Opinion of Counsel delivered by the Sponsor to the Trustee, the Certificate Insurer and the Rating Agencies, the recordation of such assignment is not necessary to protect the Trustee’s interest in the related Mortgage Loan; provided, however, notwithstanding the delivery of any Opinion of Counsel, each assignment shall be submitted for recording by the Sponsor in the manner described above, at no expense to the Trust or the Trustee, upon the earliest to occur of: (i) direction by the Holders of Certificates evidencing at least 25% of the Voting Rights or the Certificate Insurer, (ii) the occurrence of a Event of Default, (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to the Sponsor, (iv) the occurrence of a servicing transfer as described in Section 7.02 hereof and (v) if the Sponsor is not the Master Servicer and with respect to any one assignment, the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under the related Mortgage.
 
Notwithstanding anything to the contrary contained in this Section 2.01, in those instances where the public recording office retains the original Mortgage after it has been recorded, the Sponsor shall be deemed to have satisfied its obligations hereunder upon delivery to the Trustee of a copy of such Mortgage certified by the public recording office to be a true and complete copy of the recorded original thereof.
 

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If any Assignment is lost or returned unrecorded to the Trustee because of any defect therein, the Sponsor is required, as described in the Mortgage Loan Purchase Agreement with respect to the Initial Mortgage Loans, and as described in the Subsequent Mortgage Loan Purchase Agreement and in accordance with Section 2.07, with respect to the Subsequent Mortgage Loans, to prepare a substitute Assignment or cure such defect, as the case may be, and the Sponsor shall cause such Assignment to be recorded in accordance with this section.
 
The Sponsor is required as described in the Mortgage Loan Purchase Agreement with respect to the Initial Mortgage Loans, and as described in the Subsequent Mortgage Loan Purchase Agreement and in accordance with Section 2.07, with respect to the Subsequent Mortgage Loans, to exercise its best reasonable efforts to deliver or cause to be delivered to the Trustee within 120 days of the Closing Date or related Subsequent Transfer Date, with respect to the Mortgage Loans, the original or a photocopy of the title insurance policy with respect to each such Mortgage Loan assigned to the Trustee pursuant to this Section 2.01.
 
In connection with the assignment of any Mortgage Loan registered on the MERS® System, the Sponsor further agrees that it will cause, at the Sponsor's own expense, as of the Closing Date or related Subsequent Transfer Date, the MERS® System to indicate that such Mortgage Loans have been assigned by the Sponsor to the Trustee in accordance with this Agreement for the benefit of the Certificateholders and the Certificate Insurer by including (or deleting, in the case of Mortgage Loans which are repurchased in accordance with this Agreement) in such computer files (a) the code in the field which identifies the specific Trustee and (b) the code in the field “Pool Field” which identifies the series of the Certificates issued in connection with such Mortgage Loans. The Depositor further agrees that it will not, and will not permit the Master Servicer to, and the Master Servicer agrees that it will not, alter the codes referenced in this paragraph with respect to any Mortgage Loan during the term of this Agreement unless and until such Mortgage Loan is repurchased in accordance with the terms of this Agreement.
 
All original documents relating to the Mortgage Loans which are not delivered to the Trustee are and shall be held by the Master Servicer in trust for the benefit of the Trustee on behalf of the Certificateholders and the Certificate Insurer.
 
Except as may otherwise expressly be provided herein, none of the Depositor, the Master Servicer or the Trustee shall (and the Master Servicer shall ensure that no Sub-Servicer shall) assign, sell, dispose of or transfer any interest in the Trust Fund or any portion thereof, or cause the Trust Fund or any portion thereof to be subject to any lien, claim, mortgage, security interest, pledge or other encumbrance.
 
It is intended that the conveyance of the Mortgage Loans by the Depositor to the Trustee as provided in this Section 2.01 be, and be construed as, a sale of the Mortgage Loans as provided for in this Section 2.01 by the Depositor to the Trustee for the benefit of the Certificateholders and the Certificate Insurer. It is, further, not intended that such conveyance be deemed a pledge of the Mortgage Loans by the Depositor to the Trustee to secure a debt or other obligation of the Depositor. However, in the event that the Mortgage Loans are held to be property of the Depositor, or if for any reason this Agreement is held or deemed to create a security interest in the Mortgage Loans, then it is intended that, (a) this Agreement shall also be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York Uniform Commercial Code and the Uniform Commercial Code of any other applicable jurisdiction; (b) the conveyance provided for in this Section 2.01 shall be deemed to be (1) a grant by the Depositor to the Trustee of a security interest in all of the Depositor's right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to (A) the Mortgage Loans, including the Mortgage Notes, the Mortgages, any related Insurance Policies and all other documents in the related Mortgage Files, (B) all amounts payable to the holders of the Mortgage Loans in accordance with the terms thereof and (C) all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including without limitation all amounts from time to time held or invested in the Certificate Account or the Custodial Account, whether in the form of cash, instruments, securities or other property and (2) an assignment by the Depositor to the Trustee of any security interest in any and all of the Sponsor's right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the property described in the foregoing clauses (1)(A) through (C); (c) the possession by the Trustee or any other custodian or agent of the Trustee of Mortgage Notes and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by a purchaser or a person designated by such secured party, for purposes of perfecting the security interest pursuant to the New York Uniform Commercial Code and the Uniform Commercial Code of any other applicable jurisdiction (including, without limitation, Sections 9-115, 9-305, 8-102, 8-301, 8-501 and 8-503 thereof); and (d) notifications to persons holding such property, and acknowledgments, receipts or confirmations from persons holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the Trustee for the purpose of perfecting such security interest under applicable law. The Depositor and the Trustee shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of the Agreement.
 

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Concurrently with the execution of this Agreement, the Interest Rate Swap Agreement and Cap Contracts shall be delivered to the Trustee. In connection therewith, the Depositor hereby directs the Trustee, as Supplemental Interest Trust Trustee (not in its individual capacity, but solely in its capacity as Supplemental Interest Trust Trustee), to execute and deliver the Interest Rate Swap Agreement and to exercise the rights, perform the obligations, and make the representations of Party B (as defined therein) as set forth in the Interest Rate Swap Agreement and as provided in this Agreement on the Closing Date and thereafter. In addition, the Trustee, as Supplemental Interest Trust Trustee (not in its individual capacity, but solely in its capacity as Supplemental Interest Trust Trustee), is hereby directed to execute and deliver the Cap Contracts on behalf of Party B (as defined therein) and to exercise the rights, perform the obligations, and make the representations of Party B as set forth in the each Cap Contract and as provided in this Agreement on the Closing Date and thereafter. The Sponsor, the Master Servicer, the Depositor and the Certificateholders, by acceptance of their Certificates, acknowledge and agree that the Trustee, as Supplemental Interest Trust Trustee, shall execute and deliver the Interest Rate Swap Agreement and Cap Contracts on behalf of Party B (as defined therein) and shall exercise the rights, perform the obligations, and make the representations of Party B as set forth in the Interest Rate Swap Agreement and Cap Contracts and as provided in this Agreement and shall do so solely in its capacity as Supplemental Interest Trust Trustee and not in its individual capacity.
 

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Every provision of this Agreement relating to the conduct or affecting the liability of or affording protection to the Supplemental Interest Trust Trustee shall apply to the Supplemental Interest Trust Trustee’s execution of the Interest Rate Swap Agreement and Cap Contracts, and the performance of its duties and the satisfaction of its obligations on behalf of Party B thereunder.
 
Section 2.02. Acceptance of the Trust Fund by the Trustee.
 
The Trustee, with respect to the Mortgage Files held by it, acknowledges receipt (subject to any exceptions noted in the Initial Certification described below) on behalf of the Trustee, of the documents referred to in Section 2.01 above and all other assets included in the definition of “Trust Fund” and declares that it holds and will hold such documents and the other documents delivered to it constituting the Mortgage Files, and that it holds or will hold such other assets included in the definition of “Trust Fund” (to the extent delivered or assigned to the Trustee), in trust for the exclusive use and benefit of all present and future Certificateholders and the Certificate Insurer.
 
The Trustee agrees, for the benefit of the Certificateholders and the Certificate Insurer, to review or cause to be reviewed on its behalf, each Mortgage File on or before the Closing Date (or the related Subsequent Transfer Date, with respect to the Subsequent Mortgage Loans) to ascertain that all documents required to be delivered to it are in its possession, and the Trustee agrees to execute and deliver, or cause to be executed and delivered, to the Certificate Insurer, the Depositor and the Master Servicer on the Closing Date, with respect to each Mortgage Loan, an Initial Certification in the form annexed hereto as Exhibit C to the effect that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in such certification as not covered by such certification), (i) all documents required to be delivered to it pursuant to this Agreement with respect to such Mortgage Loan are in its possession, (ii) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan and (iii) based on its examination and only as to the foregoing documents, the information set forth in items (i), (ii), (iii)(A) and (iv) of the definition of the “Mortgage Loan Schedule” accurately reflects information set forth in the Mortgage File. None of the Trustee or the Master Servicer shall be under any duty to determine whether any Mortgage File should include any of the documents specified in clause (vi) or (vii) of Section 2.01. None of the Trustee or the Master Servicer shall be under any duty or obligation to inspect, review or examine said documents, instruments, certificates or other papers to determine that the same are genuine, enforceable or appropriate for the represented purpose or that they have actually been recorded, or they are in recordable form or that they are other than what they purport to be on their face.
 
Within 90 days of the Closing Date, with respect to the Mortgage Loans, the Trustee shall deliver to the Depositor, the Certificate Insurer and the Master Servicer a Final Certification in the form annexed hereto as Exhibit D evidencing the completeness of the Mortgage Files, with any applicable exceptions noted thereon, with respect to all of the Initial Mortgage Loans and the Subsequent Mortgage Loans.
 

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If in the process of reviewing the Mortgage Files and preparing the certifications referred to above the Trustee finds any document or documents constituting a part of a Mortgage File to be missing or defective in any material respect, the Trustee shall promptly notify the Sponsor, the Master Servicer, the Certificate Insurer and the Depositor. The Trustee shall promptly notify the Sponsor of such defect and request that the Sponsor cure any such defect within 60 days from the date on which the Sponsor was notified of such defect, and if the Sponsor does not cure such defect in all material respects during such period, request on behalf of the Certificateholders and the Certificate Insurer that the Sponsor purchase such Mortgage Loan from the Trust Fund at the Purchase Price within 90 days after the date on which the Sponsor was notified of such defect; provided that if such defect would cause the Mortgage Loan to be other than a “qualified mortgage” as defined in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within 90 days from the date such breach was discovered. It is understood and agreed that the obligation of the Sponsor to cure a material defect in, or purchase any Mortgage Loan as to which a material defect in a constituent document exists shall constitute the sole remedy respecting such defect available to Certificateholders, the Certificate Insurer or the Trustee on behalf of Certificateholders. The Purchase Price for the purchased Mortgage Loan shall be deposited or caused to be deposited upon receipt by the Master Servicer in the Custodial Account and, upon receipt by the Trustee of written notification of such deposit signed by a Servicing Officer, the Trustee shall release or cause to be released to the Sponsor the related Mortgage File and shall execute and deliver such instruments of transfer or assignment, in each case without recourse, as the Sponsor shall require as necessary to vest in the Sponsor ownership of any Mortgage Loan released pursuant hereto and at such time the Trustee shall have no further responsibility with respect to the related Mortgage File. In furtherance of the foregoing, if the Sponsor is not a member of MERS and the Mortgage is registered on the MERS® System, the Master Servicer, at its own expense and without any right of reimbursement, shall cause MERS to execute and deliver an assignment of the Mortgage in recordable form to transfer the Mortgage from MERS to the Sponsor and shall cause such Mortgage to be removed from registration on the MERS® System in accordance with MERS' rules and regulations.
 
Section 2.03. Representations, Warranties and Covenants of the Master Servicer and the Depositor.
 
(a) The Master Servicer hereby represents and warrants to and covenants with the Depositor and the Trustee for the benefit of Certificateholders and the Certificate Insurer that:
 
(i) The Master Servicer is, and throughout the term hereof shall remain, a corporation duly organized, validly existing and in good standing under the laws of the state of its incorporation (except as otherwise permitted pursuant to Section 6.02), the Master Servicer is, and shall remain, in compliance with the laws of each state in which any Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement, and the Master Servicer or the Sub-Servicer is, and shall remain, approved to sell mortgage loans to and service mortgage loans for Fannie Mae and Freddie Mac;
 
(ii) The execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of this Agreement by the Master Servicer, will not violate the Master Servicer's articles of incorporation or bylaws or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument to which it is a party or which is applicable to it or any of its assets;
 

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(iii) The Master Servicer has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement;
 
(iv) This Agreement, assuming due authorization, execution and delivery by the Depositor and the Trustee, constitutes a valid, legal and binding obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors' rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;
 
(v) The Master Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation is likely to affect materially and adversely either the ability of the Master Servicer to perform its obligations under this Agreement or the financial condition of the Master Servicer;
 
(vi) No litigation is pending (other than litigation with respect to which pleadings or documents have been filed with a court, but not served on the Master Servicer) or, to the best of the Master Servicer's knowledge, threatened against the Master Servicer which would prohibit its entering into this Agreement or performing its obligations under this Agreement or is likely to affect materially and adversely either the ability of the Master Servicer to perform its obligations under this Agreement or the financial condition of the Master Servicer;
 
(vii) The Master Servicer will comply in all material respects in the performance of this Agreement with all reasonable rules and requirements of each insurer under each Insurance Policy;
 
(viii) The execution of this Agreement and the performance of the Master Servicer's obligations hereunder do not require any license, consent or approval of any state or federal court, agency, regulatory authority or other governmental body having jurisdiction over the Master Servicer, other than such as have been obtained;
 
(ix) No information, certificate of an officer, statement furnished in writing or report delivered to the Depositor, any affiliate of the Depositor or the Trustee by the Master Servicer in its capacity as Master Servicer, and not in its capacity as a Sponsor hereunder, will, to the knowledge of the Master Servicer, contain any untrue statement of a material fact;
 
(x) The Master Servicer will not waive any Prepayment Charge unless it is waived in accordance with the standard set forth in Section 3.01; and
 

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(xi) The Master Servicer is a member of MERS in good standing, and will comply in all material respects with the rules and procedures of MERS in connection with the servicing of the Mortgage Loans that are registered with MERS.
 
It is understood and agreed that the representations, warranties and covenants set forth in this Section 2.03(a) shall survive the execution and delivery of this Agreement, and shall inure to the benefit of the Depositor, the Trustee, the Certificate Insurer and the Certificateholders. Upon discovery by the Depositor, the Trustee, the Certificate Insurer or the Master Servicer of a breach of any of the foregoing representations, warranties and covenants that materially and adversely affects the interests of the Depositor, the Certificate Insurer or the Trustee, the party discovering such breach shall give prompt written notice to the other parties. Notwithstanding the foregoing, within 90 days of the earlier of discovery by the Master Servicer or receipt of notice by the Master Servicer of the breach of the covenant of the Master Servicer set forth in Section 2.03(a)(x) above which materially and adversely affects the interests of the Holders of the Class P Certificates in any Prepayment Charge, the Master Servicer shall remedy such breach as follows: the Master Servicer shall pay the amount of such waived Prepayment Charge, for the benefit of the Holders of the Class P Certificates, by depositing such amount into the Custodial Account (net of any amount actually collected by the Master Servicer in respect of such Prepayment Charge and remitted by the Master Servicer, for the benefit of the Holders of the Class P Certificates, in respect of such Prepayment Charge, into the Custodial Account). The foregoing shall not, however, limit any remedies available to the Certificateholders, the Depositor, the Certificate Insurer or the Trustee on behalf of the Certificateholders, pursuant to the Mortgage Loan Purchase Agreement respecting a breach of any of the representations, warranties and covenants contained in the Mortgage Loan Purchase Agreement.
 
(b) The Depositor hereby represents and warrants to the Master Servicer and the Trustee for the benefit of Certificateholders and the Certificate Insurer that as of the Closing Date, the representations and warranties of the Sponsor with respect to the Mortgage Loans and the remedies therefor that are contained in the Mortgage Loan Purchase Agreement are as set forth in Exhibit I hereto.
 
It is understood and agreed that the representations and warranties set forth in this Section 2.03(b) shall survive delivery of the respective Mortgage Files to the Trustee.
 
Upon discovery by either the Depositor, the Master Servicer, the Certificate Insurer or the Trustee of a breach of any representation or warranty set forth in this Section 2.03 which materially and adversely affects the interests of the Certificateholders or the Certificate Insurer in any Mortgage Loan, the party discovering such breach shall give prompt written notice to the other parties.
 
Section 2.04. Representations and Warranties of the Sponsor.
 

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The Depositor hereby assigns to the Trustee for the benefit of Certificateholders and the Certificate Insurer all of its rights (but none of its obligations) in, to and under the Mortgage Loan Purchase Agreement. Insofar as the Mortgage Loan Purchase Agreement relates to such representations and warranties and any remedies provided thereunder for any breach of such representations and warranties, such right, title and interest may be enforced by the Trustee on behalf of the Certificateholders. Upon the discovery by the Depositor, the Master Servicer, the Certificate Insurer or the Trustee of a breach of any of the representations and warranties made in the Mortgage Loan Purchase Agreement in respect of any Mortgage Loan which materially and adversely affects the interests of the Certificateholders or the Certificate Insurer in such Mortgage Loan, the party discovering such breach shall give prompt written notice to the other parties. The Trustee shall promptly notify the Sponsor of such breach and request that the Sponsor shall, within 90 days from the date that the Sponsor was notified or otherwise obtained knowledge of such breach, either (i) cure such breach in all material respects or (ii) purchase such Mortgage Loan from the Trust Fund at the Purchase Price and in the manner set forth in Section 2.02; provided that if such breach would cause the Mortgage Loan to be other than a “qualified mortgage” as defined in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within 90 days from the date such breach was discovered. However, in the case of a breach under the Mortgage Loan Purchase Agreement, subject to the approval of the Depositor the Sponsor shall have the option to substitute a Qualified Substitute Mortgage Loan or Loans for such Mortgage Loan if such substitution occurs within two years following the Closing Date, except that if the breach would cause the Mortgage Loan to be other than a “qualified mortgage” as defined in Section 860G(a)(3) of the Code, any such substitution must occur within 90 days from the date the breach was discovered if such 90 day period expires before two years following the Closing Date. In the event that the Sponsor elects to substitute a Qualified Substitute Mortgage Loan or Loans for a Deleted Mortgage Loan pursuant to this Section 2.04, the Trustee shall enforce the obligation of the Sponsor under the Mortgage Loan Purchase Agreement to deliver to the Trustee and the Master Servicer, as appropriate, with respect to such Qualified Substitute Mortgage Loan or Loans, the original Mortgage Note, the Mortgage, an Assignment of the Mortgage in recordable form, and such other documents and agreements as are required by Section 2.01, with the Mortgage Note endorsed as required by Section 2.01. No substitution will be made in any calendar month after the Determination Date for such month. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution, to the extent received by the Master Servicer or any Sub-Servicer, shall not be part of the Trust Fund and will be retained by the Master Servicer and remitted by the Master Servicer to the Sponsor on the next succeeding Distribution Date. For the month of substitution, distributions to Certificateholders will include the Monthly Payment due on a Deleted Mortgage Loan for such month and thereafter the Sponsor shall be entitled to retain all amounts received in respect of such Deleted Mortgage Loan. The Depositor shall amend or cause to be amended the Mortgage Loan Schedule for the benefit of the Certificateholders and the Certificate Insurer to reflect the removal of such Deleted Mortgage Loan and the substitution of the Qualified Substitute Mortgage Loan or Loans and the Depositor shall deliver the amended Mortgage Loan Schedule to the Trustee. Upon such substitution, the Qualified Substitute Mortgage Loan or Loans shall be subject to the terms of this Agreement in all respects, the Sponsor shall be deemed to have made the representations and warranties with respect to the Qualified Substitute Mortgage Loan contained in the Mortgage Loan Purchase Agreement as of the date of substitution, and the Depositor shall be deemed to have made with respect to any Qualified Substitute Mortgage Loan or Loans, as of the date of substitution, the non-statistical representations and warranties set forth in Exhibit I hereof.
 
In connection with the substitution of one or more Qualified Substitute Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer will determine the amount (the “Substitution Adjustment”), if any, by which the aggregate principal balance of all such Qualified Substitute Mortgage Loans as of the date of substitution is less than the aggregate Stated Principal Balance of all such Deleted Mortgage Loans (in each case after application of the principal portion of the Monthly Payments due in the month of substitution that are to be distributed to Certificateholders in the month of substitution). The Trustee shall enforce the obligation of the Sponsor under the Mortgage Loan Purchase Agreement to provide the Master Servicer on the day of substitution for immediate deposit into the Custodial Account the amount of such shortfall, without any reimbursement therefor. In accordance with the Mortgage Loan Purchase Agreement, the Sponsor shall give notice in writing to the Trustee of such event, which notice shall be accompanied by an Officers’ Certificate as to the calculation of such shortfall and by an Opinion of Counsel to the effect that such substitution will not cause (a) any federal tax to be imposed on REMIC 1, REMIC 2 or REMIC 3, including without limitation, any federal tax imposed on “prohibited transactions” under Section 860F(a)(1) of the Code or on “contributions after the startup date” under Section 860G(d)(1) of the Code or (b) any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC at any time that any Certificate is outstanding. The costs of any substitution as described above, including any related assignments, opinions or other documentation in connection therewith shall be borne by the Sponsor.
 

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Except as expressly set forth herein none of the Trustee or the Master Servicer is under any obligation to discover any breach of the above-mentioned representations and warranties. It is understood and agreed that the obligation of the Sponsor to cure such breach, purchase or to substitute for such Mortgage Loan as to which such a breach has occurred and is continuing shall constitute the sole remedy respecting such breach available to Certificateholders or the Trustee on behalf of Certificateholders.
 
Section 2.05. Issuance of Certificates; Conveyance of REMIC Regular Interests and Acceptance of REMIC 2 and REMIC 3 by the Trustee.
 
(a) The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, together with the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Certificates in authorized denominations. The interests evidenced by the Certificates, constitute the entire beneficial ownership interest in the Trust Fund.
 
(b) The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the REMIC 1 Regular Interests for the benefit of the holders of the REMIC 2 Regular Interests and Holders of the Class R Certificates (in respect of the Class R-2 Interest). The Trustee acknowledges receipt of the REMIC 1 Regular Interests (which are uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC 2 Regular Interests and Holders of the Class R Certificates (in respect of the Class R-2 Interest). The interests evidenced by the Class R-2 Interest, together with the REMIC 2 Regular Interests, constitute the entire beneficial ownership interest in REMIC 2.
 

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(c) The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the REMIC 2 Regular Interests for the benefit of the holders of the REMIC 3 Regular Interests and Holders of the Class R Certificates (in respect of the Class R-3 Interest). The Trustee acknowledges receipt of the REMIC 2 Regular Interests (which are uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC 3 Regular Interests and Holders of the Class R Certificates (in respect of the Class R-3 Interest). The interests evidenced by the Class R-3 Interest, together with the REMIC 3 Regular Interests, constitute the entire beneficial ownership interest in REMIC 3.
 
(d) In exchange for the REMIC 2 Regular Interests and, concurrently with the assignment to the Trustee thereof, pursuant to the written request of the Depositor executed by an officer of the Depositor, the Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Regular Certificates in authorized denominations evidencing (together with the Class R-3 Interest and the Class IO Interest) the entire beneficial ownership interest in REMIC 3.
 
(e) Concurrently with (i) the assignment and delivery to the Trustee of REMIC 1 (including the Residual Interest therein represented by the Class R-1 Interest) and the acceptance by the Trustee thereof, (ii) the assignment and delivery to the Trustee of REMIC 2 (including the Residual Interest therein represented by the Class R-2 Interest), and (iii) the assignment and delivery to the Trustee of REMIC 3 (including the Residual Interest therein represented by the Class R-3 Interest), and the acceptance by the Trustee thereof, the Trustee, from and pursuant to the written request of the Depositor executed by an officer of the Depositor, has executed, authenticated and delivered to or upon the order of the Depositor, the Class R Certificates in authorized denominations evidencing the Class R-1 Interest, Class R-2 Interest and Class R-3 Interest.
 
Section 2.06. Purposes and Powers of the Trust.
 
The purpose of the common law trust, as created hereunder, is to engage in the following activities:
 
(a) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
 
(b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
 
(c) to make payments on the Certificates;
 
(d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
 
(e) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders.
 

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The trust is hereby authorized to engage in the foregoing activities. The Trustee shall not knowingly and explicitly cause the trust to engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.06 may not be amended, without the consent of the Certificateholders evidencing 51% or more of the aggregate voting rights of the Certificates and the Certificate Insurer.
 
Section 2.07. Conveyance of Subsequent Mortgage Loans.
 
(a) Subject to the conditions set forth in paragraph (b) below, in consideration of the Trustee’s delivery on the Subsequent Transfer Dates to or upon the order of the Depositor of all or a portion of the balance of funds in the Pre-Funding Account, the Depositor shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey without recourse to the Trustee for the benefit of the Trust Fund but subject to the other terms and provisions of this Agreement all of the right, title and interest of the Depositor in and to (i) the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule attached to the related Subsequent Transfer Instrument delivered by the Depositor on such Subsequent Transfer Date, (ii) principal due and interest accruing on the Subsequent Mortgage Loans after the related Subsequent Cut-off Date and (iii) all items with respect to such Subsequent Mortgage Loans to be delivered pursuant to Section 2.01 and the other items in the related Mortgage Files; provided, however, that the Depositor reserves and retains all right, title and interest in and to principal due and interest accruing on the Subsequent Mortgage Loans prior to the related Subsequent Cut-off Date. The transfer and delivery to the Trustee for deposit in the Mortgage Pool by the Depositor of the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule attached to the related Subsequent Transfer Agreement shall be absolute and is intended by the Depositor, the Master Servicer, the Trustee and the Certificateholders to constitute and to be treated as a sale of the Subsequent Mortgage Loans by the Depositor to the Trust Fund. The related Mortgage File for each Subsequent Mortgage Loan shall be delivered to the Trustee at least three Business Days prior to the related Subsequent Transfer Date.
 
The purchase price paid by the Trustee from amounts released from the Pre-Funding Account shall be one-hundred percent (100%) of the aggregate Stated Principal Balance of the Subsequent Mortgage Loans so transferred (as identified on the Mortgage Loan Schedule provided by the Depositor). This Agreement shall constitute a fixed-price purchase contract in accordance with Section 860G(a)(3)(A)(ii) of the Code.
 
(b) The Depositor shall transfer and deliver to the Trustee for deposit in the Trust the Subsequent Mortgage Loans and the other property and rights related thereto as described in paragraph (a) above, and the Trustee shall release funds from the Pre-Funding Account only upon the satisfaction of each of the following conditions on or prior to the related Subsequent Transfer Date:
 
(i) the Depositor shall have provided the Trustee with a timely Addition Notice;
 
(ii) the Depositor shall have delivered to the Trustee a duly executed Subsequent Transfer Instrument, which shall include a Mortgage Loan Schedule listing the Subsequent Mortgage Loans, and the Master Servicer, in its capacity as Sponsor, shall have delivered a computer file containing such Mortgage Loan Schedule to the Trustee and each Rating Agency at least three Business Days prior to the related Subsequent Transfer Date;
 

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(iii) as of each Subsequent Transfer Date, as evidenced by delivery of the Subsequent Transfer Instrument, substantially in the form of Exhibit S, the Depostior shall not be insolvent nor shall it have been rendered insolvent by such transfer nor shall it be aware of any pending insolvency;
 
(iv) such sale and transfer shall not result in a material adverse tax consequence to the Trust Fund or the Certificateholders;
 
(v) the Funding Period shall not have terminated;
 
(vi) the Depositor shall not have selected the Subsequent Mortgage Loans in a manner that it believed to be adverse to the interests of the Certificateholders or the Certificate Insurer;
 
(vii) the Depositor shall have delivered to the Trustee a Subsequent Transfer Instrument confirming the satisfaction of the conditions specified in this Section 2.07 and, pursuant to the Subsequent Transfer Instrument, assigned to the Trustee without recourse for the benefit of the Certificateholders and the Certificate Insurer all the right, title and interest of the Depositor, in, to and under the Subsequent Mortgage Loan Purchase Agreement, to the extent of the Subsequent Mortgage Loans; and
 
(viii) the Depositor shall have delivered to the Trustee, the Certificate Insurer and the Underwriters an Opinion of Counsel addressed to the Trustee and the Rating Agencies with respect to the transfer of the Subsequent Mortgage Loans substantially in the form of the Opinion of Counsel delivered to the Trustee on the Closing Date regarding the true sale of the Mortgage Loans.
 
(c) The obligation of the Trust Fund to purchase a Subsequent Mortgage Loan on any Subsequent Transfer Date is subject to the satisfaction of the conditions set forth in paragraph (d) below and the accuracy of the following representations and warranties with respect to such Subsequent Mortgage Loan determined as of the related Subsequent Cut-off Date:
 
(i) the Subsequent Mortgage Loan may not be 30 or more days Delinquent as of the related Subsequent Cut-off Date; provided, however that the Subsequent Mortgage Loans may have a first payment date occurring on or after the Subsequent Cut-off Date and, therefore, such Subsequent Mortgage Loans could not have been delinquent as of the Subsequent Cut-off Date;
 
(ii) the original term to stated maturity of the Subsequent Mortgage Loan will be 360 months from its first payment date;
 
(iii) the Subsequent Mortgage Loan must be an adjustable-rate, residential mortgage loan with a first lien on the related Mortgaged Property;
 

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(iv) the Subsequent Mortgage Loan must have a first payment date occurring prior to September 2, 2007;
 
(v) the Subsequent Mortgage Loan must have a maturity date no later than August 1, 2037;
 
(vi) no Subsequent Mortgage Loan will be a buy-down loan or a New York State “high cost loan”;
 
(vii) the Subsequent Mortgage Loan must have a credit score of not less than 600;
 
(viii) the Subsequent Mortgage Loan must have a Mortgage Rate as of the applicable Subsequent Cut-off Date ranging from 5.000% per annum to 15.000% per annum; and
 
(ix) the Subsequent Mortgage Loan will have been underwritten in accordance with the criteria set forth under “The Mortgage Pool—Underwriting Standards” in the Prospectus Supplement.
 
(d) As of the related Subsequent Cut-off Date, each group of Subsequent Mortgage Loans will satisfy the following criteria: (i) have a weighted average Mortgage Rate ranging from 6.500% to 8.000% per annum; (ii) consist of Mortgage Loans with prepayment charges representing no less than approximately 50.00% of such Subsequent Mortgage Loans; (iii) have a weighted average credit score ranging from 680 to 720; (iv) have no more than 60.00% and 40.00% of such Mortgage Loans concentrated in the state of California and Florida, respectively; (v) have no less than 65.00% of the Mortgaged Properties securing Mortgage Loans be owner occupied; (vi) have no less than 65.00% of the Mortgaged Properties securing Mortgage Loans be single family detached and de minimis planned unit developments; (vii) have no more than 40.00% of the Mortgage Loans be cash-out refinance; (viii) have any of such group of Subsequent Mortgage Loans with a Loan-to-Value Ratio greater than 80% be covered by a Primary Insurance Policy or the Radian Lender-Paid PMI Policy; (ix) have no more than 78.00% of the Mortgage Loans be Mortgage Loans with an interest only period; and (x) together with the Mortgage Loans already included in the Trust, have no more than 5.00% of such Mortgage Loans (by aggregate Stated Principal Balance as of the Subsequent Cut-off Date) secured by Mortgaged Properties located in any one zip code.
 
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(e) Notwithstanding the foregoing, any Subsequent Mortgage Loan may be rejected by any Rating Agency if the inclusion of any such Subsequent Mortgage Loan would adversely affect the ratings of any class of Certificates without, in the case of the Class AM Certificates, taking the Policy into account. In addition, minor variances from the characteristics stated in clauses (c) and (d) above will be permitted with the consent of the Rating Agencies and the Certificate Insurer so long as there are compensating factors. At least one Business Day prior to the related Subsequent Transfer Date, the Depositor shall obtain confirmation from each Rating Agency which Subsequent Mortgage Loans, if any, shall not be included in the transfer on the related Subsequent Transfer Date and deliver such confirmation to the Trustee and the Master Servicer; provided, however, that the Master Servicer, in its capacity as Sponsor, shall have delivered to each Rating Agency at least three Business Days prior to such Subsequent Transfer Date a computer file reasonably acceptable to each Rating Agency describing the characteristics specified in paragraphs (c) and (d) above.
 

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ARTICLE III
 
ADMINISTRATION AND SERVICING
OF THE MORTGAGE LOANS
 
Section 3.01. Master Servicer to Act as Master Servicer.
 
The Master Servicer shall supervise, or take such actions as are necessary to ensure, the servicing and administration of the Mortgage Loans and any REO Property in accordance with this Agreement and its normal servicing practices, which generally shall conform to the standards (i) of the Servicing Guide, if Impac Funding Corporation is Master Servicer, or (ii) if Impac Funding Corporation is not the Master Servicer, of an institution prudently servicing mortgage loans for its own account and shall have full authority to do anything it reasonably deems appropriate or desirable in connection with such servicing and administration. To the extent consistent with the foregoing, the Master Servicer shall waive (or permit a Sub-Servicer to waive) a Prepayment Charge only if such waiver would maximize recovery of total proceeds taking into account the value of such Prepayment Charge and related Mortgage Loan and doing so is standard and customary in servicing mortgage loans similar to the Mortgage Loans (including any waiver of a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is related to a default or a reasonably foreseeable default), and in no event will it waive a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is not related to a default or a reasonably foreseeable default.
 
The Master Servicer may perform its responsibilities relating to servicing through other agents or independent contractors, but shall not thereby be released from any of its responsibilities as hereinafter set forth. The authority of the Master Servicer, in its capacity as master servicer, and any Sub-Servicer acting on its behalf, shall include, without limitation, the power to (i) consult with and advise any Sub-Servicer regarding administration of a related Mortgage Loan, (ii) approve any recommendation by a Sub-Servicer to foreclose on a related Mortgage Loan, (iii) supervise the filing and collection of insurance claims and take or cause to be taken such actions on behalf of the insured Person thereunder as shall be reasonably necessary to prevent the denial of coverage thereunder, and (iv) effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing a related Mortgage Loan, including the employment of attorneys, the institution of legal proceedings, the collection of deficiency judgments, the acceptance of compromise proposals, the filing of claims under any Insurance Policy and any other matter pertaining to a Delinquent Mortgage Loan. The authority of the Master Servicer shall include, in addition, the power on behalf of the Certificateholders, the Trustee or any of them to (i) execute and deliver customary consents or waivers and other instruments and documents, (ii) consent to transfer of any related Mortgaged Property and assumptions of the related Mortgage Notes and Security Instruments (in the manner provided in this Agreement) and (iii) collect any Insurance Proceeds and Liquidation Proceeds. If permitted under applicable law without prejudicing any rights of the Trust Fund with respect to any Mortgage Loan, the Master Servicer, with such documentation as local law requires, acting in its own name, may pursue claims on behalf of the Trust Fund. Without limiting the generality of the foregoing, the Master Servicer and any Sub-Servicer acting on its behalf may, and is hereby authorized, and empowered by the Trustee to, execute and deliver, on behalf of itself, the Certificateholders or the Trustee or any of them, any instruments of satisfaction, cancellation, partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans, the Insurance Policies and the accounts related thereto, and the Mortgaged Properties. The Master Servicer may exercise this power in its own name or in the name of a Sub-Servicer.
 

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Subject to Section 3.16, the Trustee shall execute, at the written request of the Master Servicer, and furnish to the Master Servicer and any Sub-Servicer such documents as are necessary or appropriate to enable the Master Servicer or any Sub-Servicer to carry out their servicing and administrative duties hereunder, and the Trustee hereby grants to the Master Servicer a power of attorney to carry out such duties. The Trustee shall not be liable for the actions of the Master Servicer or any Sub-Servicers under such powers of attorney.
 
In accordance with the standards of the preceding paragraph, the Master Servicer shall advance or cause to be advanced funds as necessary for the purpose of effecting the payment of taxes and assessments on the Mortgaged Properties, which advances shall be reimbursable from related collections from the Mortgagors pursuant to Section 3.09, and further as provided in Section 3.11; provided that the Master Servicer shall not be obligated to make such advance if, in its reasonable good faith judgment, the Master Servicer determines that such advance is a Nonrecoverable Advance.
 
The Master Servicer is authorized and empowered by the Trustee, on behalf of the Certificateholders and the Trustee, in its own name or in the name of any Sub-Servicer, when the Master Servicer or such Sub-Servicer, as the case may be, believes it is appropriate in its best judgment to register any Mortgage Loan on the MERS® System, or cause the removal from the registration of any Mortgage Loan on the MERS® System, to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of assignment and other comparable instruments with respect to such assignment or re-recording of a Mortgage in the name of MERS, solely as nominee for the Trustee and its successors and assigns. Any expenses incurred in connection with the actions described in the preceding sentence shall be borne by the Master Servicer in accordance with Section 3.17, with no right of reimbursement; provided, that if, as a result of MERS discontinuing or becoming unable to continue operations in connection with the MERS System, it becomes necessary to remove any Mortgage Loan from registration on the MERS System and to arrange for the assignment of the related Mortgages to the Trustee, then any related expenses shall be reimbursable to the Master Servicer from the Trust Fund.
 
Notwithstanding anything in this Agreement to the contrary, the Master Servicer shall not (unless the Mortgagor is in default with respect to the Mortgage Loan or such default is, in the judgment of the Master Servicer, reasonably foreseeable) make or permit any modification, waiver or amendment of any term of any Mortgage Loan that would (i) effect an exchange or reissuance of such Mortgage Loan under Section 1001 of the Code (or Treasury regulations promulgated thereunder) or (ii) cause any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC under the Code or become subject to the imposition of any tax on “prohibited transactions” or “contributions” after the startup date under the REMIC Provisions.
 

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The relationship of the Master Servicer (and of any successor to the Master Servicer under this Agreement) to the Trustee under this Agreement is intended by the parties to be that of an independent contractor and not that of a joint venturer, partner or agent.
 
Section 3.02. Sub-Servicing Agreements Between Master Servicer and Sub-Servicers.
 
(a) The Master Servicer may enter into Sub-Servicing Agreements with Sub-Servicers for the servicing and administration of the Mortgage Loans and for the performance of any and all other activities of the Master Servicer hereunder; provided, however, that such agreements would not result in a withdrawal or a downgrading by Standard & Poor's of its rating on any Class of Certificates. Each Sub-Servicer shall be either (i) an institution, the accounts of which are insured by the FDIC or (ii) another entity that engages in the business of originating or servicing mortgage loans comparable to the Mortgage Loans, and in either case shall be a Freddie Mac or Fannie Mae approved mortgage servicer and shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement. Any Sub-Servicing Agreement entered into by the Master Servicer shall include the provision that such Agreement may be immediately terminated (x) with cause and without any termination fee by any Master Servicer hereunder or (y) without cause in which case the Master Servicer shall be responsible for any termination fee or penalty resulting therefrom. In addition, each Sub-Servicing Agreement shall provide for servicing of the Mortgage Loans consistent with the terms of this Agreement. The Master Servicer and the Sub-Servicers may enter into Sub-Servicing Agreements and make amendments to the Sub-Servicing Agreements or enter into different forms of Sub-Servicing Agreements providing for, among other things, the delegation by the Master Servicer to a Sub-Servicer of additional duties regarding the administration of the Mortgage Loans; provided, however, that any such amendments or different forms shall be consistent with and not violate the provisions of this Agreement, and that no such amendment or different form shall be made or entered into which could be reasonably expected to be materially adverse to the interests of the Certificate Insurer or Certificateholders, without the consent of the Certificate Insurer or the Holders of Certificates entitled to at least 51% of the Voting Rights. The parties hereto acknowledge that the initial Sub-Servicer shall be Countrywide.
 
The Master Servicer has entered into a separate Sub-Servicing Agreement with Countrywide for the servicing and administration of certain of the Mortgage Loans and may enter into additional Sub-Servicing Agreements with other Sub-Servicers for the servicing and administration of certain of the Mortgage Loans.
 
(b) As part of its servicing activities hereunder, the Master Servicer, for the benefit of the Trustee, the Certificate Insurer and the Certificateholders, shall enforce the obligations of each Sub-Servicer under the related Sub-Servicing Agreement. The Certificate Insurer may direct the Master Servicer to enforce any remedies against a defaulting Sub-Servicer. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Master Servicer, in its good faith business judgment, would require were it the owner of the Mortgage Loans. The Master Servicer shall pay the costs of such enforcement at its own expense, but shall be reimbursed therefor only (i) from a general recovery resulting from such enforcement only to the extent, if any, that such recovery exceeds all amounts due in respect of the Mortgage Loan or (ii) from a specific recovery of costs, expenses or attorneys' fees against the party against whom such enforcement is directed.
 

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(c) [Reserved].
 
(d) The Master Servicer represents that it will cause any Sub-Servicer to accurately and fully report its borrower credit files to all three credit repositories in a timely manner.
 
Section 3.03. Successor Sub-Servicers.
 
The Master Servicer shall be entitled to terminate any Sub-Servicing Agreement and the rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing Agreement in accordance with the terms and conditions of such Sub-Servicing Agreement. In the event of termination of any Sub-Servicer, all servicing obligations of such Sub-Servicer shall be assumed simultaneously by the Master Servicer without any act or deed on the part of such Sub-Servicer or the Master Servicer, and the Master Servicer either shall directly service the Mortgage Loans or shall enter into a Sub-Servicing Agreement with a successor Sub-Servicer which qualifies under Section 3.02.
 
Section 3.04. Liability of the Master Servicer.
 
Notwithstanding any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Master Servicer and a Sub-Servicer or reference to actions taken through a Sub-Servicer or otherwise, the Master Servicer shall under all circumstances remain obligated and primarily liable to the Trustee, the Certificate Insurer and Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with the provisions of Article III without diminution of such obligation or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Sub-Servicer and to the same extent and under the same terms and conditions as if the Master Servicer alone were servicing and administering the Mortgage Loans. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on Mortgage Loans when the Sub-Servicer has received such payments. The Master Servicer shall be entitled to enter into any agreement with a Sub-Servicer for indemnification of the Master Servicer by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.
 
Section 3.05. No Contractual Relationship Between Sub-Servicers and Trustee or Certificateholders.
 
Any Sub-Servicing Agreement that may be entered into and any transactions or services relating to the Mortgage Loans involving a Sub-Servicer in its capacity as such and not as an originator shall be deemed to be between the Sub-Servicer and the Master Servicer alone, and the Trustee and Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to the Sub-Servicer except as set forth in Section 3.06, 3.17 and 4.03. The Master Servicer (or Sub-Servicers) shall be liable for the payment of any franchise taxes which may be assessed by the California Franchise Tax Board in connection with the activities of the Trust under this Agreement.
 
 

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Section 3.06. Assumption or Termination of Sub-Servicing Agreements by Trustee.
 
(a) If the Trustee or its designee shall assume the master servicing obligations of the Master Servicer in accordance with Section 7.02 below, the Trustee, to the extent necessary to permit the Trustee to carry out the provisions of Section 7.02 with respect to the Mortgage Loans, shall succeed to all of the rights and obligations of the Master Servicer under each of the Sub-Servicing Agreements. In such event, the Trustee or its designee as the successor master servicer shall be deemed to have assumed all of the Master Servicer's rights and obligations therein and to have replaced the Master Servicer as a party to such Sub-Servicing Agreements to the same extent as if such Sub-Servicing Agreements had been assigned to the Trustee or its designee as a successor master servicer, except that the Trustee or its designee as a successor master servicer shall not be deemed to have assumed any obligations or liabilities of the Master Servicer arising prior to such assumption (other than the obligation to make any Advances hereunder) and the Master Servicer shall not thereby be relieved of any liability or obligations under such Sub-Servicing Agreements arising prior to such assumption. Nothing in the foregoing shall be deemed to entitle the Trustee or its designee as a successor master servicer at any time to receive any portion of the servicing compensation provided under Section 3.17 except for such portion as the Master Servicer would be entitled to receive.
 
(b) In the event that the Trustee or its designee as successor master servicer for the Trustee assumes the servicing obligations of the Master Servicer under Section 7.02, upon the reasonable request of the Trustee or such designee as successor master servicer the Master Servicer shall at its own expense deliver to the Trustee, or at its written request to such designee, photocopies of all documents, files and records, electronic or otherwise, relating to the Sub-Servicing Agreements and the related Mortgage Loans or REO Property then being serviced and an accounting of amounts collected and held by it, if any, and will otherwise cooperate and use its reasonable efforts to effect the orderly and efficient transfer of the Sub-Servicing Agreements, or responsibilities hereunder to the Trustee, or at its written request to such designee as successor master servicer.
 
Section 3.07. Collection of Certain Mortgage Loan Payments.
 
(a) The Master Servicer will coordinate and monitor remittances by Sub-Servicers to the Master Servicer with respect to the Mortgage Loans in accordance with this Agreement.
 
(b) The Master Servicer shall make reasonable efforts to collect or cause to be collected all payments required under the terms and provisions of the Mortgage Loans and shall follow, and use reasonable efforts to cause each Sub-Servicer to follow, collection procedures comparable to the collection procedures of prudent mortgage lenders servicing mortgage loans for their own account to the extent such procedures shall be consistent with this Agreement. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive or permit to be waived any late payment charge, assumption fee, or any penalty interest in connection with the prepayment of a Mortgage Loan and (ii) suspend or reduce, or permit to be suspended or reduced, regular monthly payments for a period of up to six months, or arrange or permit an arrangement with a Mortgagor for a scheduled liquidation of delinquencies. In the event the Master Servicer shall consent to the deferment of the due dates for payments due on a Mortgage Note, the Master Servicer shall nonetheless make an Advance or shall cause the related Sub-Servicer to make an Advance to the same extent as if such installment were due, owing and delinquent and had not been deferred through liquidation of the Mortgaged Property; provided, however, that the obligation of the Master Servicer or related Sub-Servicer to make an Advance shall apply only to the extent that such Advances are not Nonrecoverable Advances.
 

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(c) On each Determination Date, with respect to each Mortgage Loan for which during the related Prepayment Period the Master Servicer has determined that all amounts which it expects to recover from or on account of each such Mortgage Loan have been recovered and that no further Liquidation Proceeds will be received in connection therewith, the Master Servicer shall provide to the Trustee a certificate of a Servicing Officer that such Mortgage Loan has become a Liquidated Mortgage Loan in a Cash Liquidation or REO Disposition.
 
The Master Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Insurance Policy, follow such collection procedures as it would follow with respect to mortgage loans comparable to the Mortgage Loans and held for its own account. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note, Primary Hazard Insurance Policy or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that it is prohibited by applicable law from enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required. The Master Servicer shall be responsible for preparing and distributing all information statements relating to payments on the Mortgage Loans, in accordance with all applicable federal and state tax laws and regulations.
 
Section 3.08. Sub-Servicing Accounts.
 
In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Account shall be an Eligible Account and shall otherwise be acceptable to the Master Servicer. All amounts held in a Sub-Servicing Account shall be held in trust for the Trustee for the benefit of the Certificateholders and the Certificate Insurer. Any investment of funds held in such an account shall be in Permitted Investments maturing not later than the Business Day immediately preceding the next Sub-Servicer Remittance Date. The Sub-Servicer will be required to deposit into the Sub-Servicing Account no later than two Business Days after receipt all proceeds of Mortgage Loans received by the Sub-Servicer, less its servicing compensation and any unreimbursed expenses and advances, to the extent permitted by the Sub-Servicing Agreement. On each Sub-Servicer Remittance Date the Sub-Servicer will be required to remit to the Master Servicer for deposit in the Custodial Account all funds held in the Sub-Servicing Account with respect to any Mortgage Loan as of the Sub-Servicer Remittance Date, after deducting from such remittance an amount equal to the servicing compensation (including interest on Permitted Investments) and unreimbursed expenses and advances to which it is then entitled pursuant to the related Sub-Servicing Agreement, to the extent not previously paid to or retained by it. In addition, on each Sub-Servicer Remittance Date the Sub-Servicer will be required to remit to the Master Servicer any amounts required to be advanced pursuant to the related Sub-Servicing Agreement. The Sub-Servicer will also be required to remit to the Master Servicer, within five Business Days of receipt, the proceeds of any Principal Prepayment made by the Mortgagor, and, on each Sub-Servicer Remittance Date, the amount of any Insurance Proceeds or Liquidation Proceeds received during the related Prepayment Period.
 
 

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Section 3.09. Collection of Taxes, Assessments and Similar Items; Servicing Accounts.
 
The Master Servicer and the Sub-Servicers shall establish and maintain one or more accounts (the “Servicing Accounts”), and shall deposit and retain therein all collections from the Mortgagors (or related advances from Sub-Servicers) for the payment of taxes, assessments, Primary Hazard Insurance Policy premiums, and comparable items for the account of the Mortgagors, to the extent that the Master Servicer customarily escrows for such amounts. Withdrawals of amounts so collected from a Servicing Account may be made only to (i) effect payment of taxes, assessments, Primary Hazard Insurance Policy premiums and comparable items; (ii) reimburse the Master Servicer (or a Sub-Servicer to the extent provided in the related Sub-Servicing Agreement) out of related collections for any payments made pursuant to Sections 3.01 (with respect to taxes and assessments), and 3.13 (with respect to Primary Hazard Insurance Policies); (iii) refund to Mortgagors any sums as may be determined to be overages; (iv) payment of investment income to the extent provided in the mortgage loan documentation or (v) clear and terminate the Servicing Account at the termination of this Agreement pursuant to Section 9.01. As part of its servicing duties, the Master Servicer or Sub-Servicers shall, if and to the extent required by law, pay to the Mortgagors interest on funds in Servicing Accounts from its or their own funds, without any reimbursement therefor.
 
Section 3.10. Custodial Account.
 
(a) The Master Servicer shall establish and maintain one or more accounts (collectively, the “Custodial Account”) in which the Master Servicer shall deposit or cause to be deposited on a daily basis, or as and when received from and identified by the Sub-Servicers, the following payments and collections received or made by or on behalf of it subsequent to the Cut-off Date with respect to the the Initial Mortgage Loans, or the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, or payments received by it prior to the Cut-off Date but allocable to a period subsequent thereto (other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date):
 
(i) all payments (including advances by a Sub-Servicer) on account of principal, including Principal Prepayments, on the Mortgage Loans;
 
(ii) all payments (including advances by a Sub-Servicer) on account of interest on the Mortgage Loans, net of any portion thereof retained by the Master Servicer or any Sub-Servicer as Servicing Fees;
 
(iii) all Insurance Proceeds, other than proceeds that represent reimbursement of costs and expenses incurred by the Master Servicer or any Sub-Servicer in connection with presenting claims under the related Insurance Policies, Liquidation Proceeds and REO Proceeds;
 

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(iv) all proceeds of any Mortgage Loan or REO Property repurchased or purchased in accordance with Sections 2.02, 2.04, 3.14, 3.27 or 9.01; and all amounts required to be deposited in connection with the substitution of a Qualified Substitute Mortgage Loan pursuant to Section 2.04; and
 
(v) any amounts required to be deposited pursuant to Sections 3.12, 3.13, 3.15 or 3.22.
 
The foregoing requirements for deposit in the Custodial Account shall be exclusive. In the event the Master Servicer shall deposit in the Custodial Account any amount not required to be deposited therein, it may withdraw such amount from the Custodial Account, any provision herein to the contrary notwithstanding. The Custodial Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, and the other accounts of the Master Servicer.
 
(b) Funds in the Custodial Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. The Master Servicer shall give notice to the Trustee and the Depositor of the location of the Custodial Account after any change thereof.
 
Section 3.11. Permitted Withdrawals From the Custodial Account.
 
The Master Servicer may, from time to time as provided herein, make withdrawals from the Custodial Account of amounts on deposit therein pursuant to Section 3.10 that are attributable to the Mortgage Loans for the following purposes:
 
 
(ii) to pay to itself, the Depositor, the Sponsor or any other appropriate person, as the case may be, with respect to each Mortgage Loan that has previously been purchased or repurchased pursuant to Sections 2.02, 2.04, 3.14, 3.27 or 9.01 all amounts received thereon and not yet distributed as of the date of purchase or repurchase;
 
(iii) to reimburse itself or any Sub-Servicer for Advances not previously reimbursed, the Master Servicer's or any Sub-Servicer's right to reimbursement pursuant to this clause (iii) being limited to amounts received which represent Late Collections (net of the related Servicing Fees) of Monthly Payments on Mortgage Loans with respect to which such Advances were made and as further provided in Section 3.15;
 
(iv) to reimburse or pay itself, the Trustee or the Depositor for expenses incurred by or reimbursable to the Master Servicer, the Trustee or the Depositor pursuant to Sections 3.22, 6.03, 8.05 or 10.01(g), except as otherwise provided in such Sections hereof;
 

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(v) to reimburse itself or any Sub-Servicer for costs and expenses incurred by or reimbursable to it relating to the prosecution of any claims pursuant to Section 3.13 that are in excess of the amounts so recovered;
 
(vi) to reimburse itself or any Sub-Servicer for unpaid Master Servicing Fees, Sub-Servicing Fees and unreimbursed Servicing Advances, the Master Servicer's or any Sub-Servicer's right to reimbursement pursuant to this clause (vi) with respect to any Mortgage Loan being limited to late recoveries of the payments for which such advances were made pursuant to Section 3.01 or Section 3.09 and any other related Late Collections and as further provided in Section 3.15;
 
(vii) to pay itself as servicing compensation (in addition to the Master Servicing Fee and Sub-Servicing Fee), on or after each Distribution Date, any interest or investment income earned on funds deposited in the Custodial Account for the period ending on such Distribution Date;
 
(viii) to reimburse itself or any Sub-Servicer for any Advance or Servicing Advance previously made, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or Servicing Advance was not reimbursed pursuant to clauses (iii) and (vi);
 
(ix) to pay PMI Insurer the premium under the PMI Insurer Policies;
 
(x) to clear and terminate the Custodial Account at the termination of this Agreement pursuant to Section 9.01; and
 
(xi) to reimburse itself or any Sub-Servicer from general collections for any Advance or Servicing Advance made that has been deemed by the Master Servicer to be a Nonrecoverable Advance.
 
The Master Servicer shall keep and maintain separate accounting records on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii) through (x). Reconciliations will be prepared for the Custodial Account within 45 Calendar days after the bank statement cut-off date. All items requiring reconciliation will be resolved within 90 calendar days of their original identification.
 
Section 3.12. Permitted Investments.
 
Any institution maintaining the Custodial Account shall at the direction of the Master Servicer invest the funds in such account in Permitted Investments, each of which shall not be sold or disposed of prior to its maturity, nor mature later than (i) the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon, or (ii) the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon. All income and gain realized from any such investment as well as any interest earned on deposits in the Custodial Account shall be for the benefit of the Master Servicer. The Master Servicer shall deposit in the Custodial Account an amount equal to the amount of any loss incurred in respect of any such investment immediately upon realization of such loss without right of reimbursement.
 

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The Trustee or its Affiliates are permitted to receive additional compensation that could be deemed to be in the Trustee’s economic self-interest for (i) serving as investment adviser, administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.
 
Section 3.13. Maintenance of Primary Hazard Insurance. 
 
The Master Servicer shall cause to be maintained for each Mortgage Loan primary hazard insurance by a Qualified Insurer or other insurer satisfactory to the Rating Agencies with extended coverage on the related Mortgaged Property in an amount equal to the lesser of (i) 100% of the replacement value of the improvements, as determined by the insurance company, on such Mortgaged Property and (ii) the unpaid principal balance of the Mortgage Loan. The Master Servicer shall also cause to be maintained on property acquired upon foreclosure, or deed in lieu of foreclosure, of any Mortgage Loan, fire insurance with extended coverage in an amount equal to the replacement value of the improvements thereon. Any costs incurred in maintaining any insurance described in this Section 3.13 (other than any deductible described in the last paragraph hereof) shall be recoverable as a Servicing Advance. The Master Servicer shall not be obligated to advance any amounts pursuant to this Section 3.13 if, in its good faith judgment, the Master Servicer determines that such advance would be a Nonrecoverable Advance. Pursuant to Section 3.10, any amounts collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Master Servicer’s normal servicing procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.11. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to Certificateholders, be added to the amount owing under the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance.
 
The Master Servicer shall, or shall cause the related Sub-Servicer to, exercise its best reasonable efforts to maintain and keep in full force and effect each Primary Insurance Policy by a Qualified Insurer, or other insurer satisfactory to the Rating Agencies, with respect to each first lien Mortgage Loan as to which as of the Cut-Off Date such a Primary Insurance Policy was in effect (or, in the case of a Qualified Substitute Mortgage Loan, the date of substitution) and the original principal amount of the related Mortgage Note exceeded 80% of the Collateral Value in an amount at least equal to the excess of such original principal amount over 75% of such Collateral Value until the principal amount of any such first lien Mortgage Loan is reduced below 80% of the Collateral Value or, based upon a new appraisal, the principal amount of such first lien Mortgage Loan represents less than 80% of the new appraised value. The Master Servicer shall, or shall cause the related Sub-Servicer to, effect the timely payment of the premium on each Primary Insurance Policy. The Master Servicer and the related Sub-Servicer shall have the power to substitute for any Primary Insurance Policy another substantially equivalent policy issued by another Qualified Insurer, provided, that, such substitution will not cause the ratings on the Certificates to be downgraded or withdrawn, as evidenced in writing from each Rating Agency.
 

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The Master Servicer shall cooperate with the PMI Insurer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the Master Servicer or to which the Master Servicer has access with respect to any PMI Mortgage Loan.
 
In the event of a default by PMI Insurer under the PMI Insurer Policy (a “Replacement Event”), the Master Servicer shall use its best efforts to obtain a substitute lender-paid primary mortgage insurance policy (a “Substitute PMI Policy”), with the approval of the Certificate Insurer; provided, however, that the Master Servicer shall not be obligated, and shall have no liability for failing, to obtain a Substitute PMI Policy unless such Substitute PMI Policy can be obtained on the following terms and conditions: (i) the Certificates shall be rated no lower than the rating assigned by each Rating Agency to the Certificates immediately prior to such Replacement Event, as evidenced by a letter from each Rating Agency addressed to the Depositor, the Master Servicer and the Trustee, (ii) the timing and mechanism for drawing on such new Substitute PMI Policy shall be reasonably acceptable to the Master Servicer and the Trustee and (iii) the premiums under the proposed Substitute PMI Policy shall not exceed such premiums under the existing PMI Insurer Policy.
 
No earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired with respect to a security instrument other than pursuant to such applicable laws and regulations as shall at any time be in force and shall require such additional insurance. When, at the time of origination of the Mortgage Loan or at any subsequent time, the Mortgaged Property is located in a federally designated special flood hazard area, the Master Servicer shall cause with respect to the Mortgage Loans and each REO Property flood insurance (to the extent available and in accordance with mortgage servicing industry practice) to be maintained. Such flood insurance shall cover the Mortgaged Property, including all items taken into account in arriving at the Collateral Value on which the Mortgage Loan was based, and shall be in an amount equal to the lesser of (i) the Stated Principal Balance of the related Mortgage Loan and (ii) the minimum amount required under the terms of coverage to compensate for any damage or loss on a replacement cost basis, but not more than the maximum amount of such insurance available for the related Mortgaged Property under either the regular or emergency programs of the National Flood Insurance Program (assuming that the area in which such Mortgaged Property is located is participating in such program). Unless applicable state law requires a higher deductible, the deductible on such flood insurance may not exceed $5,000 in the case of a one- to four-family residence and $25,000 in the case of a condominium, cooperative or PUD.
 
In the event that the Master Servicer shall obtain and maintain a blanket fire insurance policy with extended coverage insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first two sentences of this Section 3.13, it being understood and agreed that such policy may contain a deductible clause, in which case the Master Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with the first two sentences of this Section 3.13 and there shall have been a loss which would have been covered by such policy, deposit in the Certificate Account from its own funds the amount not otherwise payable under the blanket policy because of such deductible clause. Any such deposit by the Master Servicer shall be made on the Certificate Account Deposit Date next preceding the Distribution Date which occurs in the month following the month in which payments under any such policy would have been deposited in the Custodial Account. Any such deposit shall not be deemed Servicing Advances and the Master Servicer shall not be entitled to reimbursement therefor. In connection with its activities as administrator and servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Trustee and Certificateholders, claims under any such blanket policy.
 
 

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Section 3.14. Enforcement of Due-on-Sale Clauses; Assumption Agreements.
 
The Master Servicer will, to the extent it has knowledge of any conveyance or prospective conveyance by any Mortgagor of the Mortgaged Property (whether by absolute conveyance or by contract of sale, and whether or not the Mortgagor remains or is to remain liable under the Mortgage Note or the Mortgage), exercise or cause to be exercised its rights to accelerate the maturity of such Mortgage Loan under any “due-on-sale” clause applicable thereto; provided, however, that the Master Servicer shall not exercise any such rights if it reasonably believes that it is prohibited by law from doing so. The Master Servicer or the related Sub-Servicer may repurchase a Mortgage Loan at the Purchase Price when the Master Servicer requires acceleration of the Mortgage Loan, but only if the Master Servicer is satisfied, as evidenced by an Officer's Certificate delivered to the Trustee, that either (i) such Mortgage Loan is in default or default is reasonably foreseeable or (ii) if such Mortgage Loan is not in default or default is not reasonably foreseeable, such repurchase will have no adverse tax consequences for the Trust Fund or any Certificateholder. If the Master Servicer is unable to enforce such “due-on-sale” clause (as provided in the second preceding sentence) or if no “due-on-sale” clause is applicable, the Master Servicer or the Sub-Servicer is authorized to enter into an assumption and modification agreement with the Person to whom such property has been conveyed or is proposed to be conveyed, pursuant to which such Person becomes liable under the Mortgage Note and, to the extent permitted by applicable state law, the Mortgagor remains liable thereon; provided, however, that the Master Servicer shall not enter into any assumption and modification agreement if the coverage provided under the Primary Insurance Policy, if any, would be impaired by doing so. The Master Servicer shall notify the Trustee, whenever possible, before the completion of such assumption agreement, and shall forward to the Trustee the original copy of such assumption agreement, which copy shall be added by the Trustee to the related Mortgage File and which shall, for all purposes, be considered a part of such Mortgage File to the same extent as all other documents and instruments constituting a part thereof. In connection with any such assumption agreement, the interest rate on the related Mortgage Loan shall not be changed and no other material alterations in the Mortgage Loan shall be made unless such material alteration would not cause any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC for federal income tax purposes, as evidenced by an Opinion of Counsel, or cause any such REMIC to become subject to imposition of tax. The Master Servicer is also authorized to enter into a substitution of liability agreement with such Person, pursuant to which the original Mortgagor is released from liability and such Person is substituted as the Mortgagor and becomes liable under the Mortgage Note. Any fee collected by or on behalf of the Master Servicer for entering into an assumption or substitution of liability agreement will be retained by or on behalf of the Master Servicer as additional servicing compensation. In connection with any such assumption, no material term of the Mortgage Note (including but not limited to the Mortgage Rate, the amount of the Monthly Payment and any other term affecting the amount or timing of payment on the Mortgage Loan) may be changed. The Master Servicer shall not enter into any substitution or assumption if such substitution or assumption shall (i) constitute a “significant modification” effecting an exchange or reissuance of such Mortgage Loan under the Code (or Treasury regulations promulgated thereunder) or (ii) cause any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC under the REMIC Provisions or to become subject to the imposition of any tax on “prohibited transactions” or “contributions” after the Startup Day under the REMIC Provisions. The Master Servicer shall notify the Trustee that any such substitution or assumption agreement has been completed and shall forward to the Trustee the original copy of such substitution or assumption agreement, which copy shall be added to the related Mortgage File and shall, for all purposes, be considered a part of such Mortgage File to the same extent as all other documents and instruments constituting a part thereof. A portion equal to up to 2% of the Collateral Value of the related Mortgage Loan, of any fee or additional interest collected by the related Sub-Servicer for consenting in any such conveyance or entering into any such assumption agreement may be retained by the related Sub-Servicer as additional servicing compensation.
 

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Notwithstanding the foregoing paragraph or any other provision of this Agreement, the Master Servicer shall not be deemed to be in default, breach or any other violation of its obligations hereunder by reason of any assumption of a Mortgage Loan by operation of law or any assumption that the Master Servicer may be restricted by law from preventing, for any reason whatsoever. For purposes of this Section 3.14, the term “assumption” is deemed to also include a sale of a Mortgaged Property that is not accompanied by an assumption or substitution of liability agreement.
 
Section 3.15. Realization Upon Defaulted Mortgage Loans.
 
The Master Servicer shall exercise reasonable efforts, consistent with the procedures that the Master Servicer would use in servicing loans for its own account, to foreclose upon or otherwise comparably convert (which may include an REO Acquisition) the ownership of properties securing such of the Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments pursuant to Section 3.07, and which are not released from the Trust Fund pursuant to any other provision hereof. The Master Servicer shall use reasonable efforts to realize proceeds from such defaulted Mortgage Loans in such manner (including short sales and passing through to the Trust Fund less than the full amount it expects to receive from the related Mortgage Loan) as will maximize the receipt of principal and interest by Certificateholders, taking into account, among other things, the timing of foreclosure proceedings. The foregoing is subject to the provisions that, in any case in which Mortgaged Property shall have suffered damage from an Uninsured Cause, the Master Servicer shall not be required to expend its own funds toward the restoration of such property unless it shall determine in its sole discretion (i) that such restoration will increase the net proceeds of liquidation of the related Mortgage Loan to Certificateholders and the Certificate Insurer after reimbursement to itself for such expenses, and (ii) that such expenses will be recoverable by the Master Servicer through Insurance Proceeds or Liquidation Proceeds from the related Mortgaged Property, as contemplated in Section 3.11. The Master Servicer shall be responsible for all other costs and expenses incurred by it in any such proceedings; provided, however, that it shall be entitled to reimbursement thereof from the related property, as contemplated in Section 3.11.
 

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The proceeds of any Cash Liquidation or REO Disposition, as well as any recovery resulting from a partial collection of Insurance Proceeds or Liquidation Proceeds or any income from an REO Property, will be deposited into the Custodial Account and applied in the following order of priority: first, to reimburse the Master Servicer or any Sub-Servicer for any related unreimbursed Servicing Advances, pursuant to Section 3.11(vi) or 3.22; second, to accrued and unpaid interest on the Mortgage Loan or REO Imputed Interest, at the Mortgage Rate, to the date of the Cash Liquidation or REO Disposition, or to the Due Date prior to the Distribution Date on which such amounts are to be distributed if not in connection with a Cash Liquidation or REO Disposition; and third, as a recovery of principal of the Mortgage Loan. If the amount of the recovery so allocated to interest is less than a full recovery thereof, that amount will be allocated as follows: first, to unpaid Master Servicing Fees or Sub-Servicing Fees; and second, to interest at the Net Mortgage Rate. The portion of the recovery so allocated to unpaid Master Servicing Fees or Sub-Servicing Fees shall be reimbursed to the Master Servicer or any Sub-Servicer pursuant to Section 3.11(vi). The portions of the recovery so allocated to interest at the Net Mortgage Rate and to principal of the Mortgage Loan shall be applied as follows: first, to reimburse the Master Servicer or any Sub-Servicer for any related unreimbursed Advances in accordance with Section 3.11(iii) or 3.22, second, payment to the PMI Insurer in accordance with Sections 3.11(ix) and third, for payment to the Trustee and distribution to the Certificateholders in accordance with the provisions of Section 4.01, subject to Section 3.22 with respect to certain recoveries from an REO Disposition constituting Excess Proceeds. To the extent the Master Servicer receives additional recoveries following a Cash Liquidation, the amount of the Realized Loss will be restated, and the additional recoveries will be passed through the Trust Fund as Liquidation Proceeds.
 
The Master Servicer, on behalf of the Trust, may also, in its discretion, as an alternative to foreclosure, sell defaulted Mortgage Loans at fair market value to third-parties, if the Master Servicer reasonably believes that such sale would maximize proceeds to the Certificateholders in the aggregate (on a present value basis) with respect to that Mortgage Loan.
 
Section 3.16. Trustee to Cooperate; Release of Mortgage Files.
 
Upon the payment in full of any Mortgage Loan, or the receipt by the Master Servicer of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee by a certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 3.10 have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the Mortgage File in the form of the Request for Release attached hereto as Exhibit F-2. Upon receipt by the Trustee of such certification and request, the Trustee shall promptly release the related Mortgage File to the Master Servicer. Subject to the receipt by the Master Servicer of the proceeds of such payment in full and the payment of all related fees and expenses, the Master Servicer shall arrange for the release to the Mortgagor of the original canceled Mortgage Note. In connection with the satisfaction of any MOM Loan, the Master Servicer is authorized to cause the removal from the registration on the MERS® System of such Mortgage. All other documents in the Mortgage File shall be retained by the Master Servicer to the extent required by applicable law. The Master Servicer shall provide for preparation of the appropriate instrument of satisfaction covering any Mortgage Loan which pays in full and the Trustee shall cooperate in the execution and return of such instrument to provide for its delivery or recording as may be required. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account.
 

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From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, including, for this purpose, collection under any insurance policy relating to the Mortgage Loan, the Trustee shall, upon request of the Master Servicer and delivery to the Trustee of a Request for Release in the form attached hereto as Exhibit F-1, release the related Mortgage File to the Master Servicer and the Trustee shall execute such documents as the Master Servicer shall prepare and request as being necessary to the prosecution of any such proceedings. Such Request for Release shall obligate the Master Servicer to return each document previously requested from the Mortgage File to the Trustee when the need therefor by the Master Servicer no longer exists; and in any event within 21 days of the Master Servicer's receipt thereof, unless the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of a Request for Release stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Custodial Account have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Trustee to the Master Servicer.
 
Upon written request of a Servicing Officer, the Trustee shall execute and deliver to the Master Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Master Servicer that are necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. Each such request that such pleadings or documents be executed by the Trustee shall include a certification signed by a Servicing Officer as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale.
 
Section 3.17. Servicing Compensation.
 
As compensation for its activities hereunder, the Master Servicer shall be entitled to withhold and retain, from deposits to the Custodial Account of amounts representing payments or recoveries of interest, the Master Servicing Fees and Sub-Servicing Fees with respect to each Mortgage Loan (less any portion of such amounts retained by any Sub-Servicer). In addition, the Master Servicer shall be entitled to recover unpaid Master Servicing Fees and Sub-Servicing Fees out of related Late Collections to the extent permitted in Section 3.11.
 

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Each Sub-Servicing Agreement shall permit the related Sub-Servicer to retain the Sub-Servicer Fees from collections on the related Mortgage Loans, or shall provide that the Sub-Servicer be paid directly by the Master Servicer from collections on the related Mortgage Loans. To the extent the Master Servicer directly services a Mortgage Loan, the Master Servicer shall be entitled to retain the Sub-Servicing Fees for that Mortgage Loan.
 
The Master Servicer also shall be entitled pursuant to Section 3.11 to receive from the Custodial Account as additional servicing compensation interest or other income earned on deposits therein, subject to Section 3.23, as well as any assumption fees, late payment charges and reconveyance fees. The Master Servicer shall not be entitled to retain any Prepayment Charges. Any Prepayment Charges identified on Exhibit H hereto as belonging to the Class P Certificateholder shall be paid to the Holders of the Class P Certificates. Any Prepayment Charges identified on Exhibit H hereto as belonging to a Sub-Servicer shall be paid to the related Sub-Servicer. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including payment of the premiums for any blanket policy insuring against hazard losses pursuant to Section 3.13 and servicing compensation of the Sub-Servicer to the extent not retained by it), and shall not be entitled to reimbursement therefor except as specifically provided in Section 3.11. The Master Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Master Servicer's responsibilities and obligations under this Agreement.
 
Section 3.18. Maintenance of Certain Servicing Policies.
 
The Master Servicer shall obtain and maintain at its own expense and shall cause each Sub-Servicer to obtain and maintain for the duration of this Agreement a blanket fidelity bond and an errors and omissions insurance policy covering the Master Servicer's and such Sub-Servicer's officers, employees and other persons acting on its behalf in connection with its activities under this Agreement. The amount of coverage shall be at least equal to the coverage maintained by the Master Servicer or Sub-Servicer in order to be acceptable to Fannie Mae or Freddie Mac to service loans for it or otherwise in an amount as is commercially available at a cost that is generally not regarded as excessive by industry standards. The Master Servicer shall promptly notify the Trustee in writing of any material change in the terms of such bond or policy. The Master Servicer shall provide annually to the Trustee a certificate of insurance that such bond and policy are in effect. If any such bond or policy ceases to be in effect, the Master Servicer shall, to the extent possible, give the Trustee ten days' notice prior to any such cessation and shall use its reasonable best efforts to obtain a comparable replacement bond or policy, as the case may be.
 
Section 3.19. Annual Statement as to Compliance.
 
Not later than March 22nd of each calendar year beginning in 2008, the Master Servicer at its own expense shall deliver to the Trustee via e-mail (DBSEC.Notifications@db.com), and shall deliver (or otherwise make available) to the Certificate Insurer, a certificate (an “Annual Statement of Compliance”) signed by a Servicing Officer stating, as to the signers thereof, that (i) a review of the activities of the Master Servicer during the preceding calendar year and of performance under this Agreement or other applicable servicing agreement has been made under such officers’ supervision, (ii) to the best of such officers’ knowledge, based on such review, the Master Servicer has fulfilled all its obligations under this Agreement or other applicable servicing agreement in all material respects for such year or portion thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status thereof. Such Annual Statement of Compliance shall contain no restrictions or limitations on its use. In the event that the Master Servicer has delegated any servicing responsibilities with respect to the Mortgage Loans to a Sub-Servicer, the Master Servicer shall deliver a similar Annual Statement of Compliance by that Sub-Servicer to the Trustee and the Certificate Insurer as described above as and when required with respect to the Master Servicer.
 

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Failure of the Master Servicer to timely comply with this Section 3.19 shall be deemed an Event of Default, and the Trustee may, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice immediately terminate all the rights and obligations of the Master Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof without compensating the Master Servicer for the same. This paragraph shall supersede any other provision in this Agreement or any other agreement to the contrary.
 
Section 3.20. Assessments of Compliance and Attestation Reports.
 
Pursuant to Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122(a) of Regulation AB, the Master Servicer shall deliver to the Trustee via e-mail (DBSEC.Notifications@db.com) and shall deliver (or otherwise make available) to the Certificate Insurer on or before March 22nd of each calendar year beginning in 2008, a report regarding the Master Servicer’s assessment of compliance (an “Assessment of Compliance”) with the applicable Servicing Criteria (as set forth in Exhibit N) during the preceding calendar year. The Assessment of Compliance must contain the following:
 
(a) A statement by such officer of its responsibility for assessing compliance with the Servicing Criteria applicable to the Master Servicer;
 
(b) A statement by such officer that such officer used the Servicing Criteria, and which will also be attached to the Assessment of Compliance, to assess compliance with the Servicing Criteria applicable to the Master Servicer;
 
(c) An assessment by such officer of the Master Servicer’s compliance with the applicable Servicing Criteria for the period consisting of the preceding calendar year, including disclosure of any material instance of noncompliance with respect thereto during such period, which assessment shall be based on the activities it performs with respect to asset-backed securities transactions taken as a whole involving the Master Servicer, that are backed by the same asset type as the Mortgage Loans;
 

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(d) A statement that a registered public accounting firm has issued an attestation report on the Master Servicer’s Assessment of Compliance for the period consisting of the preceding calendar year; and
 
(e) A statement as to which of the Servicing Criteria, if any, are not applicable to the Master Servicer, which statement shall be based on the activities it performs with respect to asset-backed securities transactions taken as a whole involving the Master Servicer, that are backed by the same asset type as the Mortgage Loans.
 
Such report at a minimum shall address each of the Servicing Criteria specified on Exhibit N hereto which are indicated as applicable to the Master Servicer.
 
On or before March 22nd of each calendar year beginning in 2008, the Master Servicer shall furnish to the Trustee and the Certificate Insurer a report (an “Attestation Report”) by a registered public accounting firm that attests to, and reports on, the Assessment of Compliance made by the Master Servicer, as required by Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB, which Attestation Report must be made in accordance with standards for attestation reports issued or adopted by the Public Company Accounting Oversight Board.
 
The Master Servicer shall cause any Sub-Servicer and each subcontractor determined by the Master Servicer to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, to deliver to the Trustee, the Certificate Insurer and the Depositor an Assessment of Compliance and Attestation Report as and when provided above.
 
Such Assessment of Compliance, as to any Sub-Servicer, shall address each of the Servicing Criteria applicable to the Sub-Servicer. Notwithstanding the foregoing, as to any subcontractor determined by the Master Servicer to be “participating in the servicing function,” an Assessment of Compliance is not required to be delivered unless it is required as part of a Form 10-K with respect to the Trust Fund.
 
Failure of the Master Servicer to timely comply with this Section 3.20 (taking into account the cure period if permitted as set forth in the preceding paragraph) shall be deemed an Event of Default, and the Trustee may, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, give notice to Certificateholders that they have ten Business Days to object. If no such objection is received, the Trustee shall immediately terminate all the rights and obligations of the Master Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof without compensating the Master Servicer for the same (other than as provided herein with respect to unreimbursed Advances or Servicing Advances or accrued and unpaid Servicing Fees). This paragraph shall supercede any other provision in this Agreement or any other agreement to the contrary.
 
The Trustee shall also provide an Assessment of Compliance (with respect to items (a) - (d) but not (e) above) and Attestation Report, as and when provided above, which shall at a minimum address each of the Servicing Criteria specified on Exhibit N hereto which are indicated as applicable to the “trustee”. Notwithstanding the foregoing, as to any trustee, an Assessment of Compliance is not required to be delivered unless it is required as part of a Form 10-K with respect to the Trust Fund.
 
 

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Section 3.21. Access to Certain Documentation.
 
The Master Servicer shall provide, and shall cause any Sub-Servicer to provide, to the Trustee and the Certificate Insurer, access to the documentation in their possession regarding the related Mortgage Loans and REO Properties and to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC (to which the Trustee shall also provide) access to the documentation regarding the related Mortgage Loans required by applicable regulations, such access being afforded without charge but only upon reasonable request and during normal business hours at the offices of the Master Servicer or the Sub-Servicers that are designated by these entities; provided, however, that, unless otherwise required by law, the Trustee, the Master Servicer or the Sub-Servicer shall not be required to provide access to such documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Master Servicer and the Sub-Servicers shall allow representatives of the above entities to photocopy any of the documentation and shall provide equipment for that purpose at a charge that covers their own actual out-of-pocket costs. The Master Servicer shall designate a Servicing Officer to provide certain information regarding the Mortgage Loans.
 
Section 3.22. Title, Conservation and Disposition of REO Property.
 
This Section shall apply only to REO Properties acquired for the account of REMIC 1 and shall not apply to any REO Property relating to a Mortgage Loan which was purchased or repurchased from REMIC 1 pursuant to Sections 2.02, 2.04, 3.14 or 3.27. In the event that title to any such REO Property is acquired, the deed or certificate of sale shall be issued to the Trustee, or to its nominee, on behalf of the Certificateholders. The Master Servicer, on behalf of REMIC 1, shall either sell any REO Property before the close of the third taxable year following the taxable year in which REMIC 1 acquires ownership of such REO Property for purposes of Section 860G(a)(8) of the Code or, at the expense of REMIC 1, request, more than 60 days before the day on which the three-year grace period would otherwise expire an extension of the three-year grace period, unless the Master Servicer has delivered to the Trustee and the Certificate Insurer an Opinion of Counsel (which shall not be at the expense of the Trustee or the Certificate Insurer), addressed to the Trustee, the Certificate Insurer and the Master Servicer, to the effect that the holding by REMIC 1 of such REO Property subsequent to the close of the third taxable year following the taxable year in which REMIC 1 acquires ownership of such REO Property will not result in the imposition on REMIC 1 of taxes on “prohibited transactions” thereof, as defined in Section 860F of the Code, or cause any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC under the REMIC Provisions or comparable provisions of the laws of the State of California at any time that any Certificates are outstanding. The Master Servicer shall manage, conserve, protect and operate each REO Property for the Certificateholders solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) or result in the receipt by any of REMIC 1, REMIC 2 or REMIC 3 of any “income from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the Code or any “net income from foreclosure property” which is subject to taxation under the REMIC Provisions. Pursuant to its efforts to sell such REO Property, the Master Servicer shall either itself or through an agent selected by the Master Servicer protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Certificateholders, rent the same, or any part thereof, as the Master Servicer deems to be in the best interest of the Certificateholders for the period prior to the sale of such REO Property.
 

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Any REO Disposition shall be for cash only (unless changes in the REMIC Provisions made subsequent to the Startup Day allow a sale for other consideration).
 
The Master Servicer shall segregate and hold all funds collected and received in connection with the operation of any REO Property separate and apart from its own funds and general assets. The Master Servicer shall deposit, or cause to be deposited, on a daily basis in the Custodial Account all revenues received with respect to the REO Properties, net of any directly related expenses incurred or withdraw therefrom funds necessary for the proper operation, management and maintenance of the REO Property.
 
If as of the date of acquisition of title to any REO Property there remain outstanding unreimbursed Servicing Advances with respect to such REO Property or any outstanding Advances allocated thereto the Master Servicer, upon an REO Disposition, shall be entitled to reimbursement for any related unreimbursed Servicing Advances and any unreimbursed related Advances as well as any unpaid Master Servicing Fees or Sub-Servicing Fees from proceeds received in connection with the REO Disposition, as further provided in Section 3.15. The Master Servicer shall not be obligated to advance any amounts with respect to an REO Property if such advance would constitute a Nonrecoverable Advance.
 
The REO Disposition shall be carried out by the Master Servicer at such price and upon such terms and conditions as the Master Servicer shall determine.
 
The Master Servicer shall deposit the proceeds from the REO Disposition, net of any payment to the Master Servicer as provided above, in the Custodial Account upon receipt thereof for distribution in accordance with Section 4.01; provided, that any such net proceeds received by the Master Servicer which are in excess of the applicable Stated Principal Balance plus all unpaid REO Imputed Interest thereon through the last day of the month in which the REO Disposition occurred (“Excess Proceeds”) shall be retained by the Master Servicer as additional servicing compensation.
 
With respect to any Mortgage Loan as to which the Master Servicer has received notice of, or has actual knowledge of, the presence of any toxic or hazardous substance on the Mortgaged Property, the Master Servicer shall not, on behalf of the Trustee, either (i) obtain title to the related Mortgaged Property as a result of or in lieu of foreclosure or otherwise, or (ii) otherwise acquire possession of, the related Mortgaged Property, unless the Master Servicer has, at least 30 days prior to taking such action, obtained and delivered to the Trustee an environmental audit report prepared by a Person who regularly conducts environmental audits using customary industry standards. The Master Servicer shall take such action as it deems to be in the best economic interest of the Trust Fund (other than proceeding against the Mortgaged Property) and is hereby authorized at such time as it deems appropriate to release such Mortgaged Property from the lien of the related Mortgage.
 

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The cost of the environmental audit report contemplated by this Section 3.22 shall be advanced by the Master Servicer as an expense of the Trust Fund, and the Master Servicer shall be reimbursed therefor from the Custodial Account as provided in Section 3.11, any such right of reimbursement being prior to the rights of the Certificateholders to receive any amount in the Custodial Account.
 
If the Master Servicer determines, as described above, that it is in the best economic interest of the Trust Fund to take such actions as are necessary to bring any such Mortgaged Property in compliance with applicable environmental laws, or to take such action with respect to the containment, clean-up or remediation of hazardous substances, hazardous materials, hazardous wastes, or petroleum-based materials affecting any such Mortgaged Property, then the Master Servicer shall take such action as it deems to be in the best economic interest of the Trust Fund. The cost of any such compliance, containment, clean-up or remediation shall be advanced by the Master Servicer as an expense of the Trust Fund, and the Master Servicer shall be entitled to be reimbursed therefor from the Custodial Account as provided in Section 3.11, any such right of reimbursement being prior to the rights of the Certificateholders to receive any amount in the Custodial Account.
 
Section 3.23. Additional Obligations of the Master Servicer.
 
On each Certificate Account Deposit Date, the Master Servicer shall deliver to the Trustee for deposit in the Certificate Account from its own funds and without any right of reimbursement therefor, a total amount equal to the amount of Compensating Interest for the related Distribution Date.
 
Section 3.24. Additional Obligations of the Depositor.
 
The Depositor agrees that on or prior to the tenth day after the Closing Date, the Depositor shall provide or shall cause to be provided to the Trustee information, substantially in the form of Exhibit J attached hereto, relating to each Class of Certificates, setting forth (i) in the case of each Class of such Certificates, (a) if less than 10% of the aggregate Certificate Principal Balance of such Class of Certificates has been sold as of such date, the value calculated pursuant to clause (b)(iii) of Exhibit J hereto, or, (b) if 10% or more of such Class of Certificates has been sold as of such date but no single price is paid for at least 10% of the aggregate Certificate Principal Balance of such Class of Certificates, then the weighted average price at which the Certificates of such Class were sold and the aggregate percentage of Certificates of such Class sold, (c) the first single price at which at least 10% of the aggregate Certificate Principal Balance of such Class of Certificates was sold, or (d) if any Certificates of each Class of Certificates are retained by the Depositor or an affiliate corporation, or are delivered to the Sponsor, the fair market value of such Certificates as of the Closing Date, (ii) the Prepayment Assumption used in pricing the Certificates, and (iii) such other information as to matters of fact as the Trustee may reasonably request to enable it to comply with its reporting requirements with respect to each Class of such Certificates to the extent such information can in the good faith judgment of the Depositor be determined by it.
 
 

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Section 3.25. Exchange Act Reporting.
 
(a) The Trustee (to the extent any information requested by the Depositor is actually in the possession of the Trustee) and the Master Servicer shall fully cooperate with the Depositor in connection with the Trust’s satisfying the reporting requirements under the Exchange Act as may be requested by the Depositor pursuant to Section 3.26.
 
(b) (1) Within 12 calendar days after each Distribution Date, the Trustee shall, in accordance with industry standards, file with the Commission via the Electronic Data Gathering and Retrieval System (“EDGAR”), a Distribution Report on Form 10-D, signed by the Depositor, with a copy of the monthly statement to be furnished by the Trustee to the Certificateholders for such Distribution Date. Any disclosure in addition to the monthly statement required to be included on the Form 10-D (“Additional Form 10-D Disclosure”) shall be determined and prepared by the entity that is indicated in Exhibit O as the responsible party for providing that information, if other than the Trustee, and the Trustee will have no duty or liability to verify the accuracy or sufficiency of any such Additional Form 10-D Disclosure and the Trustee shall have no liability with respect to any failure to properly prepare or file such Form 10-D resulting from or relating to the Trustee’s inability or failure to obtain any information in a timely manner from the party responsible for delivery of such Additional Form 10-D Disclosure.
 
Within 3 calendar days after the related Distribution Date, each entity that is indicated in Exhibit O as the responsible party for providing Additional Form 10-D Disclosure shall be required to provide to the Trustee via e-mail (DBSEC.Notifications@db.com) and the Depositor and the Certificate Insurer, to the extent known by a responsible party thereof, Additional Form 10-D Disclosure, if applicable, clearly identifying which item of Form 10-D the information relates to, any. The Trustee shall compile the information provided to it, prepare the Form 10-D and forward the Form 10-D to the Depositor for verification. The Depositor will approve, as to form and substance, or disapprove, as the case may be, the Form 10-D. No later than three Business Days prior to the 10th calendar day after the related Distribution Date, an officer of the Depositor shall sign the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Trustee. The Trustee shall have no liability with respect to any failure to properly file any Form 10-D resulting from or relating to the Depositor’s failure to timely comply with the provisions of this section.
 
(ii) Within four (4) Business Days after the occurrence of an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”), the Depositor shall prepare and file any Form 8-K, as required by the Exchange Act, in addition to the initial Form 8-K in connection with the issuance of the Certificates. Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form 8-K (“Form 8-K Disclosure Information”) shall be determined and prepared by the entity that is indicated in Exhibit O as the responsible party for providing that information.
 
For so long as the Trust is subject to the Exchange Act reporting requirements, no later than the end of business on the second Business Day after the occurrence of a Reportable Event, the entity that is indicated in Exhibit O as the responsible party for providing Form 8-K Disclosure Information shall be required to provide to the Depositor, to the extent known by a responsible officer thereof, the form and substance of any Form 8-K Disclosure Information, if applicable. The Depositor shall compile the information provided to it, and prepare and file the Form 8-K, which shall be signed by an officer of the Depositor.
 

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(iii) Prior to January 30 of the first year in which the Trustee is able to do so under applicable law, the Trustee shall, in accordance with industry standards, file a Form 15 Suspension Notice with respect to the Trust Fund, if applicable. On or before (x) March 22, 2008 and (y) unless and until a Form 15 Suspension Notice shall have been filed, on or before April 15 of each year thereafter, the Master Servicer shall provide the Trustee and the Certificate Insurer with an Annual Compliance Statement, together with a copy of the Assessment of Compliance and Attestation Report to be delivered by the Master Servicer pursuant to Sections 3.19 and 3.20 (including with respect to any Sub-Servicer or any subcontractor, if required to be filed). Prior to (x) March 30, 2008 and (y) unless and until a Form 15 Suspension Notice shall have been filed, March 30 of each year thereafter, the Trustee shall file a Form 10-K, in substance as required by applicable law or applicable Securities and Exchange Commission staff’s interpretations and conforming to industry standards, with respect to the Trust Fund. Such Form 10-K shall include the Assessment of Compliance, Attestation Report, Annual Compliance Statements and other documentation provided by the Master Servicer pursuant to Sections 3.19 and 3.20 (including with respect to any Sub-Servicer or subcontractor, if required to be filed) and Section 3.20 with respect to the Trustee, and the Form 10-K certification in the form attached hereto as Exhibit L-1 (the “Certification”) signed by the senior officer of the Depositor in charge of securitization. The Trustee shall receive the items described in the preceding sentence no later than March 22 of each calendar year prior to the filing deadline for the Form 10-K.
 
Any disclosure or information in addition to that described in the preceding paragraph that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall be determined and prepared by the entity that is indicated in Exhibit O as the responsible party for providing that information, if other than the Trustee, and the Trustee will have no duty or liability to verify the accuracy or sufficiency of any such Additional Form 10-K Disclosure.
 
If information, data and exhibits to be included in the Form 10-K are not so timely delivered, the Trustee shall file an amended Form 10-K including such documents as exhibits reasonably promptly after they are delivered to the Trustee. The Trustee shall have no liability with respect to any failure to properly prepare or file such periodic reports resulting from or relating to the Trustee’s inability or failure to timely obtain any information from any other party.
 
On or prior to (x) March 15, 2008 and (y) unless and until a Form 15 Suspension Notice shall have been filed, prior to March 15 of each year thereafter, each entity that is indicated in Exhibit O as the responsible party for providing Additional Form 10-K Disclosure shall be required to provide to the Trustee via e-mail (DBSEC.Notifications@db.com), and to the Certificate Insurer and the Depositor, to the extent known by a responsible party thereof, the form and substance of any Additional Form 10-K Disclosure Information, if applicable. The Trustee shall compile the information provided to it, prepare the Form 10-K and forward the Form 10-K to the Depositor for verification. The Depositor will approve, as to form and substance, or disapprove, as the case may be, the Form 10-K by no later than March 25 of the relevant year (or the immediately preceding Business Day if March 25 is not a Business Day), an officer of the Depositor shall sign the Form 10-K and return an electronic or fax copy of such signed Form 10-K (with an original executed hard copy to follow by overnight mail) to the Trustee.
 

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The Master Servicer shall be responsible for determining the pool concentration applicable to any Sub-Servicer to which the Master Servicer delegated any of its responsibilities with respect to the Mortgage Loans at any time, for purposes of disclosure as required by Items 1117 and 1119 of Regulation AB. The Trustee will provide electronic or paper copies of all Form 10-D, 8-K and 10-K filings free of charge to any Certificateholder upon request. Any expenses incurred by the Trustee in connection with the previous sentence shall be reimbursable to the Trustee out of the Trust Fund. The Trustee shall have no liability with respect to any failure to properly file any Form 10-K resulting from or relating to the Depositor’s failure to timely comply with the provisions of this section.
 
The Trustee shall sign a certification (in the form attached hereto as Exhibit L-3) for the benefit of the Depositor and its officers, directors and Affiliates in respect of items 1 through 3 of the Certification (provided, however, that the Trustee shall not undertake an analysis of the Attestation Report attached as an exhibit to the Form 10-K), and the Master Servicer shall sign a certification (the “Master Servicer Certification) solely with respect to the Master Servicer (in the form attached hereto as Exhibit L-2) for the benefit of the Depositor, the Trustee and each Person, if any, who “controls” the Depositor or the Trustee within the meaning of the Securities Act of 1933, as amended, and their respective officers and directors. Each such certification shall be delivered to the Depositor and the Trustee by March 15th of each year (or if not a Business Day, the immediately preceding Business Day). The Certification attached hereto as Exhibit L-1 shall be delivered to the Trustee by March 20th for filing on or prior to March 30th of each year (or if not a Business Day, the immediately preceding Business Day).
 
The Trustee will have no duty to verify the accuracy or sufficiency of any information not prepared by it included in any Form 10-D, Form 10-K or Form 8-K. The Trustee shall have no liability with respect to any failure to properly prepare or file any Form 10- D or Form 10-K resulting from or relating to the Trustee’s inability or failure to obtain any information in a timely manner from the party responsible for delivery of such disclosure information. The Trustee shall have no liability with respect to any failure to properly file any Form l0-D or 10-K resulting from or relating to the Depositor’s failure to timely comply with the provisions of this section. Nothing herein shall be construed to require the Trustee or any officer, director or Affiliate thereof to sign any Form 10-D, Form 10-K or Form 8-K.
 
(c) (A) The Trustee shall indemnify and hold harmless the Depositor, the Master Servicer and their respective officers, directors and Affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon any material misstatement or omission in the Assessment of Compliance delivered by the Trustee pursuant to Section 3.20 and (B) the Master Servicer shall indemnify and hold harmless the Depositor, the Trustee and their respective officers, directors and Affiliates from and against any actual losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon (i) the failure of the Master Servicer to timely deliver the Master Servicer Certification or (ii) any material misstatement or omission in the Statement as to Compliance delivered by the Master Servicer pursuant to Section 3.19 or any Sub-Servicer pursuant to Section 3.20, the Assessment of Compliance delivered by the Master Servicer or any Sub-Servicer pursuant to Section 3.20 or the Master Servicer Certification. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Depositor, then the Master Servicer agrees that it shall contribute to the amount paid or payable by the Depositor and the Trustee as a result of the losses, claims, damages or liabilities of the Depositor and the Trustee in such proportion as is appropriate to reflect the relative fault of the Depositor and the Trustee on the one hand and the Master Servicer on the other in connection with the Master Servicer Certification and the related obligations of the Master Servicer under this Section 3.25.
 

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Upon any filing with the Securities and Exchange Commission, the Trustee shall promptly deliver to the Depositor a copy of any such executed report, statement or information.
 
Section 3.26. Intention of the Parties and Interpretation.
 
Each of the parties acknowledges and agrees that the purpose of Sections 3.19, 3.20 and 3.25 of this Agreement is to facilitate compliance by the Sponsor and the Depositor with the provisions of Regulation AB. Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) the parties shall comply with requests made by the Sponsor or the Depositor for delivery of additional or different information as the Sponsor or the Depositor may determine in good faith is necessary to comply with the provisions of Regulation AB, and (d) no amendment of this Agreement shall be required to effect any such changes in the parties’ obligations as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.
 
Section 3.27. Optional Purchase of Certain Mortgage Loans.
 

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The Master Servicer will have a one-time option to purchase up to a maximum of 1.00% (and in any case, at least five Mortgage Loans, not exceeding the 1.00% maximum in the aggregate) of the Mortgage Loans, by aggregate Stated Principal Balance of the Mortgage Loans as of such date, from the Trustee at the Purchase Price. Any Mortgage Loans that may be purchased by the Master Servicer pursuant to this Section 3.27 will be selected by the Master Servicer in its sole discretion. If at any time the Master Servicer makes a payment to the Certificate Account covering the amount of the Purchase Price for such a Mortgage Loan, and the Master Servicer provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Certificate Account, then the Trustee shall execute the assignment of such Mortgage Loan at the request of the Master Servicer without recourse to the Master Servicer which shall succeed to all the Trustee’s right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. The Master Servicer will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto. Any tax on "prohibited transactions" (as defined in Section 860F(a)(2) of the Code) imposed on any REMIC relating to the exercise of the option provided in this Section 3.27 shall in no event be payable by the Trustee.
 

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ARTICLE IV
 
PAYMENTS TO CERTIFICATEHOLDERS
 
Section 4.01. Distributions.
 
(a) The Trustee shall establish and maintain a Certificate Account, in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 5:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.10, 3.13 or 3.23, (iii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date, (iv) amounts payable by the Trust to the Supplemental Interest Trust in respect of Net Swap Payments and Swap Termination Payments other than Swap Termination Payments resulting from a Swap Provider Trigger Event and (v) any amounts on deposit in the Custodial Account representing Prepayment Charges collected by the Master Servicer (and any Master Servicer Prepayment Charge Payment Amounts paid by, or collected on behalf of the Trust Fund by, the Master Servicer or any Sub-Servicer), other than any such Prepayment Charges or Master Servicer Prepayment Charge Payment Amounts relating to Principal Prepayments that occurred after the end of the related Prepayment Period.
 
On each Distribution Date, prior to making any other distributions referred to in Section 4.01 herein, the Trustee shall withdraw from the Certificate Account and pay itself any income earned on retention of amounts on deposit in the Certificate Account for such Distribution Date and any other amounts payable to it hereunder.
 
On each Distribution Date, prior to making any other distributions referred to in Section 4.01 herein, the Trustee shall withdraw from the Certificate Account and pay to the Certificate Insurer from the interest collections in the Available Distribution Amount, by wire transfer of immediately available funds, the Policy Premium for such Distribution Date. The Trustee shall deposit any amounts received from the Certificate Insurer pursuant to the Certificate Guaranty Insurance Policy into the Insurance Account.
 
On each Distribution Date, prior to making any other distributions referred to in Section 4.01 herein, the Trustee shall withdraw from the Class M Interest Reserve Fund, to the extent of the related Class M Interest Reserve Fund Amount, an amount equal to any Net WAC Shortfall Amounts for that Distribution Date for the Holders of the related Class M-4, Class M-5, Class M-6 and Class M-7 Certificates and shall distribute such amount to the Holders of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates. Any payments to the Holders of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates in respect of related Net WAC Shortfall Amounts pursuant to the preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.
 
On each Distribution Date the Trustee shall distribute to each Certificateholder of record as of the next preceding Record Date (other than as provided in Section 9.01 respecting the final distribution) either in immediately available funds (by wire transfer or otherwise) to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder has so notified the Trustee at least 5 Business Days prior to the related Record Date, or otherwise by check mailed to such Certificateholder at the address of such Holder appearing in the Certificate Register, such Certificateholder’s share (based on the aggregate of the Percentage Interests represented by Certificates of the applicable Class held by such Holder) of the amounts required to be distributed to such Holder pursuant to this Section 4.01.
 

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Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Provider Trigger Event) payable by the Supplemental Interest Trust to the Swap Provider pursuant to the Interest Rate Swap Agreement shall be deducted (without duplication) from the interest collections in the Available Distribution Amount, and to the extent of any such remaining amounts due, from the principal collections in the Available Distribution Amount, prior to any distributions to the Certificateholders. On each Distribution Date, such amounts will be remitted to the Supplemental Interest Trust, first to make any Net Swap Payment owed to the Swap Provider pursuant to the Interest Rate Swap Agreement for such Distribution Date and for prior Distribution Dates, and second to make any Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider pursuant to the Interest Rate Swap Agreement for such Distribution Date and for prior Distribution Dates. Any Swap Termination Payment triggered by a Swap Provider Trigger Event owed to the Swap Provider pursuant to the Interest Rate Swap Agreement will be subordinated to distributions to the Holders of the Class A, Class M and Class B Certificates and shall be paid as set forth in Section 4.01(e)(vi).
 
(b) On each Distribution Date, the Trustee shall withdraw from the Certificate Account that portion of Available Distribution Amount for such Distribution Date consisting of the Interest Remittance Amount, if any, for such Distribution Date, and make the following disbursements and transfers in the order of priority described below, in each case to the extent of the Interest Remittance Amount for such Class for such Distribution Date:
 
(i) to the Holders of the Class A Certificates, pro rata based on entitlement, the Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for each such Class for such Distribution Date;
 
(ii) from the remaining Interest Remittance Amount, to the Certificate Insurer, with respect to the Class AM Certificates, in an amount equal to (i) any amounts reimbursable to the Certificate Insurer for the interest portion of any Insured Payment made pursuant to the Insurance Agreement and (ii) any unpaid Policy Premium; and
 
(iii) from the remaining Interest Remittance Amount, sequentially to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, the Monthly Interest Distributable Amount for each such Class for such Distribution Date.
 
(c) On each Distribution Date (i) prior to the Stepdown Date or (ii) on or after the Stepdown Date if a Trigger Event is in effect, the Trustee shall withdraw from the Certificate Account that portion of Available Distribution Amount for such Distribution Date consisting of an amount equal to the Principal Distribution Amount and distribute to the Holders of the Class A, Class M and Class B Certificates, distributions in respect of principal to the extent of the Principal Distribution Amount remaining for such Distribution Date:
 

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(i) concurrently on a pro rata basis, among (a) the Holders of the Class A1-A, Class A1-B and Class A1-C Certificates and (b) the Holders of the Class AM Certificates (based on (1) the aggregate Certificate Principal Balance of the Class A1-A, Class A1-B and Class A1-C Certificates in the case of clause (a) and (2) the Certificate Principal Balance of the Class AM Certificates in the case of clause (b)), with such amounts between (a) and (b) being further allocated as follows:
 
(a) sequentially, to the Class A1-A, Class A1-B and Class A1-C Certificates, in that order, until the Certificate Principal Balances of such Classes are reduced to zero; and
 
(b) to the Class AM Certificates until the Certificate Principal Balance of such Class is reduced to zero; and
 
(ii) from the remaining Principal Distribution Amount, sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, in each case until the Certificate Principal Balances thereof have been reduced to zero.
 
Except as provided below, on each distribution date (a) on or after the Stepdown Date and (b) on which a Trigger Event is not in effect, the Holders of each class of Class A, Class M and Class B Certificates shall be entitled to receive distributions in respect of principal to the extent of the Principal Distribution Amount in the following amounts and order of priority:
 
(i) concurrently, in an amount up to the Class A Principal Distribution Amount, pro rata among (a) the Holders of the Class A1-A, Class A1-B and Class A1-C Certificates and (b) the Holders of the Class AM Certificates (based on (1) the aggregate Certificate Principal Balance of the Class A1-A, Class A1-B and Class A1-C Certificates in the case of clause (a) and (2) the Certificate Principal Balance of the Class AM Certificates in the case of clause (b)), with such amounts between (a) and (b) being further allocated as follows:
 
(a) sequentially, to the Class A1-A, Class A1-B and Class A1-C Certificates, in that order, until the Certificate Principal Balances of such Classes are reduced to zero; and
 
(b) to the Class AM Certificates until the Certificate Principal Balance of such Class is reduced to zero; and
 

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(ii) from the remaining Principal Distribution Amount, sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, in an amount up to the Subordinated Class Principal Distribution Amount for each such Class, in each case until the Certificate Principal Balances thereof have been reduced to zero.
 
(d) Notwithstanding the foregoing, to the extent any Net Swap Payment or Swap Termination Payment with respect to the Interest Rate Swap Agreement is payable from principal collections, Principal Distribution Amounts will be deemed paid to the most subordinate class of Certificates (other than the Class R Certificates and Class P Certificates), until the Certificate Principal Balance thereof has been reduced to zero.
 
(e) On each Distribution Date the Net Monthly Excess Cashflow shall be distributed in the following order of priority:
 
(i) to the Certificate Insurer, with respect to the Class AM Certificates, in an amount equal to (i) any amounts reimbursable to the Certificate Insurer for Insured Payments made pursuant to the Insurance Agreement and (ii) any unpaid Policy Premium;
 
(ii) from the portion of Net Monthly Excess Cashflow otherwise distributable to each of the Class C Certificates, to the Holders of the Class A, Class M and Class B Certificates then entitled to receive distributions in respect of principal, up to an amount equal to any Extra Principal Distribution Amount, payable to such Holders as part of the Principal Distribution Amount as described under Section 4.01(c) above, as applicable;
 
(iii) sequentially, first, concurrently, to the Holders of the Class A1-A, Class A1-B and Class A1-C Certificates, pro rata; and second, to the Class AM Certificates, in each case up to an amount equal to any Allocated Realized Loss Amount for each such Class;
 
(iv) sequentially, to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, up to an amount equal to the sum of the Unpaid Interest Shortfall Amount and the Allocated Realized Loss Amount (such amount to be applied first to cover Unpaid Interest Shortfall Amount for such Class and second to cover Allocated Realized Loss Amount for such Class) for each such Class;
 
(v) from the portion of Net Monthly Excess Cashflow otherwise distributable to the Class C Certificates, to the Net WAC Shortfall Reserve Fund, (i) first, to pay the Class A, Class M and Class B Certificates, on a pro rata basis, based on the Certificate Principal Balances thereof, to the extent needed to pay any Net WAC Shortfall Amount for each such Class (and, in the case of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, to the extent not covered by the related Class M Interest Reserve Fund Amount) and to the extent such amount exceeds the amounts then on deposit in the Net WAC Shortfall Reserve Fund; provided that any Net Monthly Excess Cashflow remaining after such allocation to pay any such Net WAC Shortfall Amount based on the Certificate Principal Balances of the Class A, Class M and Class B Certificates will be distributed to each such Class of Certificates with respect to which there remains any unpaid Net WAC Shortfall Amount, pro rata, based on the amount of such unpaid Net WAC Shortfall Amount to the extent such amount exceeds the amounts then on deposit in the Net WAC Shortfall Reserve Fund, and (ii) second, to maintain a balance in the Net WAC Shortfall Reserve Fund equal to the Net WAC Shortfall Reserve Fund Deposit;
 

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(vi) to the Supplemental Interest Trust for payment to the Swap Provider any Swap Termination Payments with respect to the Interest Rate Swap Agreement owed to the Swap Provider due to a Swap Provider Trigger Event not previously paid;
 
(vii) to the Certificate Insurer, any remaining amounts owed to the Certificate Insurer under the Insurance Agreement;
 
(viii) to the Holders of the Class C Certificates, an amount equal to the Class C Distribution Amount, reduced by amounts distributed in clauses (ii) and (v) above; and
 
(ix) to the Class R Certificates, any remaining amounts.
 
(f) On or before each Distribution Date, the Trustee shall distribute from (i) the amounts received from the Swap Provider pursuant to the Interest Rate Swap Agreement in respect of any Net Swap Payment and (ii) amounts received from the Cap Counterparties pursuant to the Cap Contracts (other than any Derivative Termination Payments relating to such Cap Contract), in each case then on deposit in the Derivative Account and after distributions pursuant to Sections 4.01(b) and 4.01(e)(i)-(v), to the Class A, Class M and Class B Certificates in the following order of priority:
 
(i) concurrently to the Holders of the Class A Certificates, pro rata, based on entitlement, an amount equal to any Unpaid Interest Shortfall Amount for such Class or Classes, in each case solely to the extent the Unpaid Interest Shortfall Amount is as a result of the interest portion of Realized Losses;
 
(ii) sequentially, to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, up to an amount equal to any Unpaid Interest Shortfall Amount for such Class or Classes, in each case solely to the extent the Unpaid Interest Shortfall Amount is as a result of the interest portion of Realized Losses;
 
(iii) to the Holders of the Class A, Class M and Class B Certificates, up to an amount equal to any portion of the Extra Principal Distribution Amount not covered by any Net Monthly Excess Cashflow on that Distribution Date and solely to the extent the payment of the Extra Principal Distribution Amount is as a result of current or prior period Realized Losses, to be included in the Principal Distribution Amount for that Distribution Date and payable to such Holders as part of the Principal Distribution Amount as described under Sections 4.01(c) above, as applicable;
 
(iv) to the Net WAC Reserve Fund, (i) first, to pay Net WAC Shortfall Amounts to the Holders of the Class A, Class M and Class B Certificates, on a pro rata basis, based on the aggregate amount of Net WAC Shortfall Amounts for such Class(es) of Class A, Class M and Class B Certificates remaining unpaid (and, in the case of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, to the extent not covered by the related Class M Interest Reserve Fund Amount) and (ii) second, to maintain a balance in the Net WAC Shortfall Reserve Fund equal to the Net WAC Shortfall Reserve Fund Deposit;
 

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(v) sequentially, first, concurrently, to the Holders of the Class A1-A, Class A1-B and Class A1-C Certificates, pro rata; and second, to the Class AM Certificates, in each case up to an amount equal to any Allocated Realized Loss Amount for each such Class; and
 
(vi) sequentially to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class B Certificates, in that order, up to an amount equal to any Allocated Realized Loss Amount for such Class or Classes.
 
(g) On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period and identified on the Mortgage Loan Schedule attached as Exhibit H as belonging to the Class P Certificateholder and any Master Servicer Prepayment Charge Amounts paid by the Master Servicer during the related Prepayment Period will be withdrawn from the Certificate Account and distributed by the Trustee to the Holders of the Class P Certificates and shall not be available for distribution to the Holders of any other Class of Certificates. The payment of the foregoing amounts to the Holders of the Class P Certificates shall not reduce the Certificate Principal Balances thereof.
 
(h) Each distribution with respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall be responsible for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”) for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents. None of the Trustee, the Depositor or the Master Servicer shall have any responsibility therefor except as otherwise provided by this Agreement or applicable law.
 
(i) The Trustee, upon written direction of the Master Servicer, shall invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature not later than the Distribution Date next following the date of such investment and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.
 
(j) Except as otherwise provided in Section 9.01, if the Master Servicer anticipates that a final distribution with respect to any Class of Certificates will be made on the next Distribution Date, the Master Servicer shall, no later than the 15th day of the month in the month of such final distribution (or if such 15th day is not a Business Day, the Business Day immediately preceding such 15th day), notify the Trustee and the Trustee shall, no later than two (2) Business Days after such date, mail on such date to each Holder of such Class of Certificates a notice to the effect that: (i) the Trustee anticipates that the final distribution with respect to such Class of Certificates will be made on such Distribution Date but only upon presentation and surrender of such Certificates at the office of the Trustee or as otherwise specified therein, and (ii) no interest shall accrue on such Certificates from and after the end of the prior calendar month.
 

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Any funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held in trust and credited to the account of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section 4.01(j) shall not have been surrendered for cancellation within six months after the time specified in such notice, the Trustee shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with respect thereto. If within six months after the second notice all such Certificates shall not have been surrendered for cancellation, the Trustee shall take reasonable steps as directed by the Depositor, or appoint an agent to take reasonable steps, to contact the remaining non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses of maintaining the funds in trust and of contacting such Certificateholders shall be paid out of the assets remaining in the Trust Fund. If within nine months after the second notice any such Certificates shall not have been surrendered for cancellation, the Class R Certificateholders shall be entitled to all unclaimed funds and other assets which remain subject hereto. No interest shall accrue or be payable to any Certificateholder on any amount held in trust as a result of such Certificateholder's failure to surrender its Certificate(s) for final payment thereof in accordance with this Section 4.01(j).
 
Section 4.02. Statements to Certificateholders.
 
(a) On each Distribution Date, based, as applicable, on information provided to it by the Master Servicer, the Trustee shall prepare and make available on the Trustee’s website, which shall initially be located at “https://www.tss.db.com/invr” (assistance in using the website can be obtained by calling the Trustee’s customer service desk at (800) 735-7777), to each Holder of the Regular Certificates, the Certificate Insurer, the Swap Provider, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date setting forth the following:
 
(i) the applicable record dates, accrual periods, determination dates for calculating distributions and general distributions dates;
 
(ii) the total cash flows received and the general sources thereof;
 
(iii) the amount of any Net Swap Payment and any amount from the Cap Contracts payable to the Supplemental Interest Trust, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Supplemental Interest Trust and any Swap Termination Payment payable to the Swap Provider;
 
(iv)  (A) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and (B) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
 

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(v) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to interest, separately identified;
 
(vi) the Pass-Through Rate on each Class of Regular Certificates (other than the Class P Certificates) for such Distribution Date;
 
(vii) the aggregate amount of Advances for such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements;
 
(viii) the number and Aggregate Stated Principal Balance of the Mortgage Loans as of the end of the related Due Period, including the number and Aggregate Stated Principal Balance of the Subsequent Mortgage Loans as of the end of the related Due Period;
 
(ix) the Overcollateralization Release Amount and the Overcollateralization Deficiency Amount for such Distribution Date;
 
(x) the aggregate Certificate Principal Balance of each Class of Regular Certificates after giving effect to the amounts distributed on such Distribution Date (in the case of each Class of the Class A, Class M and Class B Certificates, separately identifying any reduction thereof due to the allocation of Realized Losses thereto);
 
(xi) the number and Stated Principal Balance of Mortgage Loans in respect of which (a) one Scheduled Payment is delinquent, (b) two Scheduled Payments are delinquent, (c) three or more Scheduled Payments are delinquent and (d) foreclosure proceedings have been commenced, in each case as of the end of the calendar month prior to such Distribution Date;
 
(xii) the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
 
(xiii) the weighted average remaining term to maturity, weighted average Mortgage Rate and weighted average Net Mortgage Rate of the Mortgage Loans as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
 
(xiv) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
 
(xv) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
 
(xvi) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
 

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(xvii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Custodial Account or the Certificate Account for such Distribution Date;
 
(xviii) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer or a Sub-Servicer pursuant to Section 3.23, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
 
(xix) the Monthly Interest Distributable Amount in respect of each Class of the Class A, Class M and Class B Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of Class A, Class M and Class B Certificates for such Distribution Date;
 
(xx) (A) the Overcollateralization Target Amount, (B) the Overcollateralized Amount and (C) the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount, in each case after giving effect to the distribution made on the Regular Certificates on such Distribution Date;
 
(xxi) the aggregate amount of servicing compensation received by the Master Servicer with respect to the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
 
(xxii) the aggregate of any deposits to and withdrawals from the Net WAC Shortfall Reserve Fund for such Distribution Date and the remaining amount on deposit in the Net WAC Shortfall Reserve Fund after such deposits and withdrawals;
 
(xxiii) the Available Distribution Amount for such Distribution Date;
 
(xxiv) the Policy Premium paid, the Insured Amount, if any, paid by the Certificate Insurer under the Certificate Guaranty Insurance Policy for such Distribution Date, the aggregate amount of unpaid Policy Premiums for all prior Distribution Dates and the aggregate Insured Amounts for all prior Distribution Dates paid by the Certificate Insurer under the Certificate Guaranty Insurance Policy and not yet reimbursed;
 
(xxv) for the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, any related deposits to and withdrawals from the Class M Interest Reserve Fund;
 
(xxvi) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Accounts and used to make payments to Certificateholders on that Distribution Date, the amount remaining on deposit in the Pre-Funding Accounts and Interest Coverage Account following such Distribution Date, and the amount withdrawn from the Pre-Funding Account used to buy certain Subsequent Mortgage Loans prior to such Distribution Date;
 
(xxvii) updated pool composition data including the following: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at origination, and weighted average remaining term; and
 

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(xxviii) information about any additions of, substitutions for or removal of any Mortgage Loans from the Trust Fund, and any changes in the underwriting, acquisition or selection criteria as to any Mortgage Loans added to the Trust Fund.
 
In the case of information furnished pursuant to subclauses (ii) and (iv) above, the amounts shall also be expressed as a dollar amount per Single Certificate.
 
On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and Bloomberg.
 
Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Certificate, a statement containing the information set forth in subclauses (ii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force.
 
On each Distribution Date the Trustee shall prepare and make available on the Trustee’s website (or deliver at the recipient's option), to each Holder of a Class R Certificate a copy of the reports forwarded to the other Certificateholders on such Distribution Date.
 
Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R Certificate a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force.
 
The location of the Trustee’s website and the procedures used therein are subject to change from time to time at the Trustee’s discretion. The Trustee shall have the right to change the way monthly distribution statement are distributed in order to make such distribution more convenient and/or more accessible to the above parties. The Trustee shall be entitled to conclusively rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to access the Trustee’s website, the Trustee may require registration and the acceptance of a disclaimer. Notwithstanding anything to the contrary set forth in this Agreement, the parties hereto acknowledge that in connection with the Trustee’s preparation of the foregoing reports, the Trustee will rely solely upon the information provided to it in the Remittance Reports.
 
Section 4.03. Remittance Reports; Advances by the Master Servicer.
 
(a) On the 19th calendar day of the month (but in any event no later than the 21st calendar day of the month), the Master Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Business Day preceding such Determination Date (the “Remittance Report”), in the form of an electromagnetic tape, disk or such other electronic format agreeable to both parties. The Remittance Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is required by the Trustee for purposes of making the calculations and preparing the statement described in Sections 4.01 and 4.02, as set forth in written specifications or guidelines issued by the Trustee from time to time. The Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer.
 

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(b) The Master Servicer shall determine the aggregate amount of Advances required to be made for the related Distribution Date, which shall be in an aggregate amount equal to the sum of (1) the aggregate amount of Monthly Payments, other than Balloon Payments, (with each interest portion thereof adjusted to the Mortgage Rate less the sum of the Master Servicing Fee Rate, the Sub-Servicing Fee Rate and any applicable PMI Insurer Fee Rate, and less the amount of any reductions in the amount of interest collectable from the Mortgagor pursuant to the Relief Act, on the Outstanding Mortgage Loans as of the related Due Date, which Monthly Payments were delinquent as of the close of business as of the related Determination Date) plus (2) with respect to each Balloon Loan delinquent in respect of its Balloon Payment as of the close of business on the related Determination Date, an amount equal to the assumed Monthly Payment (net of the related Master Servicing Fees and Sub-Servicing Fees) that would have been due on the related Due Date based on the original principal amortization scheduled for such Balloon Loan until such Balloon Loan is finally liquidated; provided that no Advance shall be made if it would be a Nonrecoverable Advance. On or before 4:00 P.M. New York time on each Certificate Account Deposit Date, the Master Servicer shall either (i) deposit in the Certificate Account from its own funds, or funds received therefor from the Sub-Servicers, an amount equal to the Advances to be made by the Master Servicer or any Sub-Servicers in respect of the related Distribution Date, (ii) withdraw from amounts on deposit in the Custodial Account and deposit in the Certificate Account all or a portion of the amounts held for future distribution in discharge of any such Advance, or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Advance. Any portion of the amounts held for future distribution so used shall be replaced by the Master Servicer (to the extent not previously replaced by late collections of Monthly Payments in respect of which such Advance was made) by deposit in the Certificate Account on or before 1:00 P.M. New York time on any future Certificate Account Deposit Date to the extent that funds attributable to the Mortgage Loans that are available in the Custodial Account for deposit in the Certificate Account on such Certificate Account Deposit Date shall be less than payments to Certificateholders required to be made on the following Distribution Date. The amount of any reimbursement pursuant to Section 3.11 in respect of outstanding Advances on any Distribution Date shall be allocated to specific Monthly Payments due but delinquent for previous Due Periods, which allocation shall be made, to the extent practicable, to Monthly Payments which have been delinquent for the longest period of time. Such allocations shall be conclusive for purposes of reimbursement to the Master Servicer from recoveries on related Mortgage Loans pursuant to Section 3.11. The determination by the Master Servicer that it has made a Nonrecoverable Advance or that any proposed Advance, if made, would constitute a Nonrecoverable Advance, shall be evidenced by a certificate of a Servicing Officer delivered to the Sponsor, the Certificate Insurer and the Trustee with the Remittance Report. The Trustee shall deposit all funds it receives pursuant to this Section 4.03 into the Certificate Account.
 

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(c) In the event that the Master Servicer determines as of any Certificate Account Deposit Date that it will be unable to deposit in the Certificate Account an amount equal to the Advance required to be made for the immediately succeeding Distribution Date in the amount determined by the Master Servicer pursuant to paragraph (b) above, it shall give notice to the Trustee of its inability to Advance (such notice may be given by telecopy), not later than 4:00 P.M., New York time, on such date, specifying the portion of such amount that it will be unable to deposit. Not later than 4:00 P.M., New York time, on the earlier of (x) two Business Days following such Certificate Account Deposit Date or (y) the Business Day preceding the related Distribution Date, unless by such time the Master Servicer shall have directly or indirectly deposited in the Certificate Account the entire amount of the Advances required to be made for the related Distribution Date, pursuant to Section 7.01, the Trustee shall (a) terminate all of the rights and obligations of the Master Servicer under this Agreement in accordance with Section 7.01 and (b) assume the rights and obligations of the Master Servicer hereunder, including the obligation to deposit in the Certificate Account an amount equal to the Advance for the immediately succeeding Distribution Date.
 
The Master Servicer and the Sub-Servicer shall in all cases have a right prior to the Certificateholders to any particular funds on deposit in the Custodial Account from time to time for the reimbursement or payment of its Servicing Fee, Advances, Servicing Advances and any amounts reimbursable thereto in accordance with Section 3.11 of this Agreement, but only if and to the extent such amounts are to be reimbursed or paid from such particular funds on deposit in the Custodial Account pursuant to the express terms of this Agreement.
 
Section 4.04. Distributions on the REMIC Regular Interests.
 
(a) On each Distribution Date, the Trustee shall cause the following amounts, in the following order of priority, to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:
 
(i) from the Available Distribution Amount for such Distribution Date to holders of the REMIC 1 Regular Interests, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such REMIC 1 Regular Interests for such Distribution Date, plus (B) any amounts payable in respect thereof remaining unpaid from previous Distribution Dates;
 
(ii) from the Available Distribution Amount for such Distribution Date remaining after the distribution made pursuant to clause (i) above, first, to the holders of REMIC 1 Regular Interest OC, until the Uncertificated Principal Balance thereof is reduced to zero, and second, to holders of REMIC 1 Regular Interests 1-1-A through 1-60-B, starting with the lowest numerical denomination, until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest is reduced to zero, provided that, for REMIC 1 Regular Interests with the same numerical denomination, such payments of principal shall be allocated pro rata between such REMIC 1 Regular Interests;
 

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(iii) to holders of REMIC 1 Regular Interest P, (A) all amounts representing Prepayment Charges received during the related Prepayment Period that are identified as belonging to the Class P Certificates on the attached Mortgage Loan Schedule, and (B) on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified as belonging to the Class P Certificates on the attached Mortgage Loan Schedule or any Distribution Date thereafter, any remaining Available Distribution Amount, until an amount equal to the initial Uncertificated Principal Balance of such REMIC 1 Regular Interest has been distributed pursuant to this clause; and
 
(iv) any remaining amount to the Holders of the Class R Certificates (in respect of the Class R-1 Interest).
 
(b) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC 2 to REMIC 3 on account of the REMIC 2 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-2 Interest), as the case may be:
 
(i) from the Available Distribution Amount for such Distribution Date to holders of REMIC 2 Regular Interest IO, in an amount equal to (A) the Uncertificated Accrued Interest for such REMIC 2 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates;
 
(ii) to the extent of the Available Distribution Amount for such Distribution Date remaining after the distribution pursuant to clause (i), to holders of each REMIC 2 Regular Interest (other than REMIC 2 Regular Interest IO), pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such REMIC 2 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 2 Regular Interest ZZ and REMIC 2 Regular Interest P shall be reduced when the REMIC 2 Overcollateralized Amount is less than the REMIC 2 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount, and such amount will be payable to holders of each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is the Corresponding Certificate in the same proportion as the Extra Principal Distribution Amount is allocated to the Corresponding Certificates for each such REMIC 2 Regular Interest, and the Uncertificated Principal Balance of REMIC 2 Regular Interest ZZ shall be increased by such amount;
 
(iii) to the extent of the Available Distribution Amount for such Distribution Date remaining after the distributions pursuant to clauses (i) and (ii), to holders of REMIC 2 Regular Interests (other than REMIC 2 Regular Interests IO and P), allocated as follows:
 

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(A) 98.00% of such remainder to holders of REMIC 2 Regular Interest AA, until the Uncertificated Principal Balance of such REMIC 2 Regular Interest is reduced to zero; and
 
(B) 2.00% of such remainder, first, to holders of each REMIC 2 Regular Interest for which a Class A, Class M or Class B Certificate is the Corresponding Certificate, in an aggregate amount equal to 1% of and in the same proportion as principal payments are allocated to the Corresponding Certificates for each such REMIC 2 Regular Interest, until the Uncertificated Principal Balances of such REMIC 2 Regular Interests are reduced to zero; and second, to the holders of REMIC 2 Regular Interest ZZ, until the Uncertificated Principal Balance of such REMIC 2 Regular Interest is reduced to zero;
 
(iv) to holders of REMIC 2 Regular Interest P, (A) all amounts representing Prepayment Charges distributed on REMIC 1 Regular Interest P, and (B) on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified as belonging to the Class P Certificates on the attached Mortgage Loan Schedule or any Distribution Date thereafter, any remaining Available Distribution Amount distributed in respect of REMIC 1 Regular Interest P, until an amount equal to the initial Uncertificated Principal Balance of such REMIC 2 Regular Interest has been distributed pursuant to this clause; and
 
(v) any remaining amount to the Holders of the Class R Certificates (in respect of the Class R-3 Interest).
 
(c) On each Distribution Date, interest shall be deemed payable from REMIC 3 to the holders of each REMIC 3 Regular Interest the ownership of which is represented by the Class A, Class M and Class B Certificates at a pass-through rate equal to the lesser of (i) the Pass-Through Rate for the Corresponding Certificate determined without regard to the related Net WAC Rate and (ii) the Net WAC Rate for the REMIC 3 Regular Interest the ownership of which is represented by the Corresponding Certificate for such Distribution Date, in each case on a principal balance equal to the Certificate Principal Balance of the Corresponding Certificate for such Distribution Date. For the avoidance of doubt, principal shall be payable to, and shortfalls, losses and prepayments shall be allocable to, the REMIC 3 Regular Interests the ownership of which is represented by the Class A, Class M and Class B Certificates as such amounts are payable and allocable to the Corresponding Certificates.
 
(d) On each Distribution Date, the amounts distributed pursuant to Sections 4.01(e)(ii), (v) and (vii) on such date shall be deemed distributed from REMIC 3 to Holders of the Class C Certificates in respect of the Class C Distribution Amount.
 
(e) On each Distribution Date, 100% of the amounts deemed distributed on REMIC 2 Regular Interest IO shall be deemed distributed by REMIC 3 in respect of the Class IO Interest for deposit into the Supplemental Interest Trust.
 
 

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Section 4.05. Allocation of Realized Losses.
 
(a) All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow, through a distribution of the Extra Principal Distribution Amount for that Distribution Date; second, to the Overcollateralized Amount by a reduction of the Certificate Principal Balance of the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class M-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; eighth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and ninth to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; thereafter, any Realized Losses on the Mortgage Loans will be allocated on any Distribution Date first to the Class AM Certificates until its Certificate Principal Balance has been reduced to zero (provided, however, that any Realized Loss applied to the Class AM Certificates will be covered by the Certificate Guaranty Insurance Policy) and second to the Class A1-A, Class A1-B and Class A1-C Certificates, on a pro rata basis, based on the Certificate Principal Balances thereof, in each case in reduction of the Certificate Principal Balances thereof, until reduced to zero.
 
(b) Any allocation of Realized Losses to a Class A, Class M and Class B Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated. Any allocation of Realized Losses to Net Monthly Excess Cashflow shall be made by reducing the amount otherwise payable in respect of the Class C Certificates pursuant to Section 4.01(e)(vii), and any allocation of Realized Losses to the Overcollateralized Amount shall be made by reducing the Certificate Principal Balance of the Class C Certificates by the amount so allocated.
 
(c) All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date, first, to REMIC 1 Regular Interest OC, until the Uncertificated Principal Balance thereof has been reduced to zero, and second, to REMIC 1 Regular Interest I-1-A through REMIC 1 Regular Interest 1-60-B, starting with the lowest numerical denomination, until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero, provided that, for REMIC 1 Regular Interests with the same numerical denomination, such Realized Losses shall be allocated pro rata between such REMIC 1 Regular Interests, and third, to REMIC 1 Regular Interest P until the Uncertificated Principal Balance thereof has been reduced to zero.
 

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(d) All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date to the following REMIC 2 Regular Interests in the following specified percentages: first, to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount (without duplication of shortfalls allocated pursuant to Section 1.03), 98.00% and 2.00%, respectively, and to the extent of any amount equal to the REMIC 2 Interest Loss Allocation Amount remaining after the foregoing allocations to REMIC 2 Regular Interests AA and ZZ, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest P to the extent of such remaining amount; second, to the Uncertificated Principal Balances of the REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98.00% and 2.00%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest B has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-8 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-8 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-7 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-7 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-6 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-6 has been reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-5 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-5 has been reduced to zero; eighth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-4 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-4 has been reduced to zero; ninth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-3 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-3 has been reduced to zero; tenth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-2 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-2 has been reduced to zero; eleventh, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest M-1 and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest M-1 has been reduced to zero; twelfth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest AM and REMIC 2 Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest AM has been reduced to zero; and thirteenth, to the Uncertificated Principal Balance of REMIC 2 Regular Interests AA, 98.00%, to the Uncertificated Principal Balances of REMIC 2 Regular Interests A1-A, A1-B and A1-C, 1.00% pro rata, and to the Uncertificated Principal Balance of REMIC 2 Regular Interest ZZ, 1.00%, until the Uncertificated Principal Balances of such REMIC 2 Regular Interests A1-A, A1-B and A1-C have been reduced to zero.
 
 

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Section 4.06. Information Reports to Be Filed by the Master Servicer.
 
The Master Servicer or the Sub-Servicers shall file information reports with respect to the receipt of mortgage interest received in a trade or business, foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P of the Code, respectively, and deliver to the Trustee an Officers’ Certificate stating that such reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by such Sections 6050H, 6050J and 6050P of the Code.
 
Section 4.07. Compliance with Withholding Requirements.
 
Notwithstanding any other provision of this Agreement, the Trustee shall comply with all federal withholding requirements respecting payments to Certificateholders of interest or original issue discount on the Mortgage Loans, that the Trustee reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. In the event the Trustee withholds any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Trustee shall, together with its monthly report to such Certificateholders pursuant to Section 4.02 hereof, indicate such amount withheld.
 
Section 4.08. Net WAC Shortfall Reserve Fund.
 
(a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of Class A, Class M and Class B Certificates, the Net WAC Shortfall Reserve Fund. In addition, on the Closing Date, the Depositor shall deposit into the Net WAC Shortfall Reserve Fund an amount equal to the Net WAC Shortfall Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Shortfall Amount payable to any Class of Class A, Class M and Class B Certificates, the Trustee shall deposit the amounts distributable pursuant to clause (v) of Section 4.01(e) into the Net WAC Shortfall Reserve Fund, and the Trustee has been directed by the Holders of the Class C Certificates to distribute amounts then on deposit in the Net WAC Shortfall Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Net WAC Shortfall Amounts in the priorities set forth in clause (v) of Section 4.01(e). Any amount paid to the Holders of any Class A, Class M and Class B Certificates pursuant to the preceding sentence in respect of Net WAC Shortfall Amounts from amounts distributable pursuant to clause (v) of Section 4.01(e) shall be treated as distributed to the Holders of the Class C Certificates and paid by such Holders to the Holders of such Class A, Class M and Class B Certificates. Any payments to the Holders of the Class A, Class M and Class B Certificates in respect of Net WAC Shortfall Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Code Section 860G(a)(1).
 
(b) The Net WAC Shortfall Reserve Fund is an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Net WAC Shortfall Reserve Fund. The Holders of the Class C Certificates shall be the beneficial owners of the Net WAC Shortfall Reserve Fund, pro rata, subject to the power of the Trustee to transfer amounts under Section 4.01. Amounts in the Net WAC Shortfall Reserve Fund shall, at the written direction of the Holders of the Class C Certificates be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. In the absence of such written direction, all funds in the Net WAC Shortfall Reserve Fund shall remain uninvested. All net income and gain from such investments shall be distributed to the Holders of the Class C Certificates, pro rata, not as a distribution in respect of any interest in any REMIC, on each such Distribution Date. All amounts earned on amounts on deposit in the Net WAC Shortfall Reserve Fund shall be taxable to the Holders of the Class C Certificates. Any losses on such investments shall be deposited in the Net WAC Shortfall Reserve Fund by the Holders of the Class C Certificates, pro rata, out of their own funds immediately as realized.
 
 

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Section 4.09. Supplemental Interest Trust.
 
(i) As of the Closing Date, the Trustee, as Supplemental Interest Trust Trustee, is directed to enter into the Interest Rate Swap Agreement and the Cap Contracts and shall establish and maintain in the name of the Supplemental Interest Trust Trustee, the Supplemental Interest Trust for the benefit of the Swap Provider and the Holders of the Class A, Class M, Class B and Class C Certificates. The Supplemental Interest Trust shall hold the Interest Rate Swap Agreement, the Class IO Interest, the Cap Contracts, the Collateral Account and the Derivative Account. The Trustee shall establish an Eligible Account (the “Derivative Account”) into which the Depositor shall deposit $1,000 on the Closing Date. Funds on deposit in the Derivative Account shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or held pursuant to this Agreement.
 
(ii) On each Distribution Date, the Trustee shall deposit into the Derivative Account amounts distributable to the Supplemental Interest Trust pursuant to Sections 4.01(a) (last paragraph) and 4.01(e)(vi) of this Agreement. In addition, the Trustee shall deposit into the Derivative Account for payment to the Swap Provider the Swap Optional Termination Payment (which shall include any related Net Swap Payment payable to the Swap Provider) payable under Section 9.01. On each Distribution Date, the Trustee shall distribute any such amounts to the Swap Provider pursuant to the Interest Rate Swap Agreement, first to pay any Net Swap Payment owed to the Swap Provider for such Distribution Date or remaining unpaid from prior Distribution Dates, and second to pay any Swap Termination Payment owed to the Swap Provider for such Distribution Date or remaining unpaid from prior Distribution Dates.
 
(iii) On each Distribution Date, the Trustee, as Supplemental Interest Trust Trustee, shall deposit into the Derivative Account amounts received by the Supplemental Interest Trust (x) under the Interest Rate Swap Agreement from the Swap Provider and (y) under the Cap Contracts from the Cap Counterparties (other than Derivative Termination Payments related to any Cap Contract). On each Distribution Date, the Trustee shall, and the Trustee has been directed by the Holders of the Class C Certificates to, distribute from the Derivative Account an amount equal to the amount of any Net Swap Payment or Swap Termination Payment received from the Swap Provider under the Interest Rate Swap Agreement and payments received from the Cap Counterparties under the Cap Contracts (other than Derivative Termination Payments related to any Cap Contract), in the following order of priority:
 
 

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(a) first, an amount equal to the aggregate amount required under Section 4.01(f) to be distributed on such Distribution Date, to the Class A, Class M and Class B Certificateholders in accordance with Section 4.01(f) of this Agreement, and
 
(b) second, any remainder, to the holder of the Class C Certificates.
 
(iv) The Supplemental Interest Trust constitutes an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) and shall not be an asset of any REMIC. The Holders of the Class C Certificates shall be the beneficial owner of the Supplemental Interest Trust, pro rata, subject to the power of the Trustee to transfer amounts under this Agreement. The Trustee shall keep records that accurately reflect the funds on deposit in the Derivative Account. The Trustee shall, at the written direction of the Holders of the Class C Certificates, invest amounts on deposit in the Supplemental Interest Trust in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. In the absence of such written direction, all funds in the Supplemental Interest Trust shall remain uninvested. On each Distribution Date, the Trustee shall distribute, not as a distribution in respect of any interest in any REMIC, any income or gain earned on the invested assets in the Supplemental Interest Trust to the Holders of the Class C Certificates, pro rata. All amounts earned on amounts on deposit in the Supplemental Interest Trust shall be taxable to the Holders of the Class C Certificates. Any losses on such investments shall be deposited in the Supplemental Interest Trust by the Holders of the Class C Certificates, pro rata, out of their own funds immediately as realized.
 
(v) For federal income tax purposes, amounts paid to the Supplemental Interest Trust on each Distribution Date pursuant to Section 4.01(a) (first and second sentences of the last paragraph) for payment to the Swap Provider with respect to the Interest Rate Swap Agreement shall first be deemed to be paid to the Supplemental Interest Trust in respect of the Class IO Interest to the extent of the amount distributable on such Class IO Interest on such Distribution Date, and shall then be deemed to be paid to the Supplemental Interest Trust in respect of a Class IO Distribution Amount as described below.
 
(vi) The Trustee shall treat the Holders of the Class A, Class M and Class B Certificates as having entered into a notional principal contract with respect to the Holders of the Class C Certificates. Pursuant to each such notional principal contract, all Holders of the Class A, Class M and Class B Certificates shall be treated as having agreed to pay, on each Distribution Date, to the Holder of the Class C Certificates an aggregate amount equal to the excess, if any, of (i) the amount payable on such Distribution Date on the REMIC 3 Regular Interest corresponding to such Class of Certificates over (ii) the amount payable on such Class of Certificates on such Distribution Date (such excess, a “ Class IO Distribution Amount”). A Class IO Distribution Amount payable from interest collections shall be allocated pro rata among such Certificates based on the excess of, with respect to each such Certificate, (i) the amount of interest otherwise payable to the REMIC 3 Regular Interest relating to such Certificate over (ii) the amount of interest payable to such Certificate at a per annum rate equal to the Net WAC Rate, and a Class IO Distribution Amount payable from principal collections shall be allocated to the most subordinate Class of the Class A, Class M, Class B and Class C Certificates with an outstanding principal balance to the extent of such balance. In addition, pursuant to such notional principal contract, the Holder of the Class C Certificates shall be treated as having agreed to pay Net WAC Shortfall Amounts to the Holders of the Class A, Class M and Class B Certificates from amounts received by the Supplemental Interest Trust pursuant to the Interest Rate Swap Agreement in accordance with the terms of this Agreement. Any payments deemed to be received by Holders of the Class A, Class M, Class B and Class C Certificates pursuant to this notional principal contract shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code. However, any payment from the Class A, Class M and Class B Certificates of a Class IO Distribution Amount shall be treated for tax purposes as having been received by the Holders of such Certificates in respect of their interests in REMIC 3 and as having been paid by such Holders to the Holders of the Class C Certificates pursuant to the notional principal contract. Thus, each Class A, Class M, Class B and Class C Certificate shall be treated as representing not only ownership of a Regular Interest in REMIC 3, but also ownership of an interest in, and obligations with respect to, a notional principal contract.
 

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(vii) (a) Upon designation of an early termination date with respect to a Derivative Contract other than in connection with a Optional Termination, the Trustee, as Supplemental Interest Trust Trustee, at the written direction of the Depositor or the Certificate Insurer will use reasonable efforts to appoint a successor derivative counterparty to enter into a new derivative contract on terms substantially similar to such Derivative Contract with a derivative counterparty meeting all applicable eligibility requirements. The Trustee, as Supplemental Interest Trust Trustee will apply any Derivative Termination Payment received from the original derivative counterparty in connection with the early termination of such Derivative Contract to the upfront payment required to appoint the successor derivative counterparty.
 
If a successor derivative counterparty is not appointed within 30 days of such early termination, then the Trustee, as Supplemental Interest Trust Trustee will deposit any Derivative Termination Payment received from the original derivative counterparty in connection with the early termination of such Derivative Contract into a separate, non-interest bearing reserve account and will, on each subsequent Distribution Date, withdraw from the amount then remaining on deposit in such reserve account an amount equal to the payment, if any, that would have been paid to the Supplemental Interest Trust Trustee by the original derivative counterparty calculated in accordance with the terms of the related Derivative Contract, and distribute such amount in accordance with the terms of this Agreement.
 
(b) In the event that the derivative counterparty under a Derivative Contract fails to perform any of its obligations under such Derivative Contract (including, without limitation, its obligation to make any payment or transfer collateral), or breaches any of its representations and warranties thereunder, or in the event that any Event of Default, Termination Event, or Additional Termination Event (each as defined in the related Derivative Contract) occurs with respect to such Derivative Contract, the Trustee, as Supplemental Interest Trust Trustee shall, promptly following actual notice of such failure, breach or event, notify the Depositor and send any notices and make any demands, on behalf of the Supplemental Interest Trust, required to enforce the rights of the Supplemental Interest Trust under such Derivative Contract.
 

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In the event that a derivative counterparty’s obligations are guaranteed by a third party under a guaranty relating to a Derivative Contract (such guaranty a “Guaranty” and such third party a “Guarantor”), then to the extent that the derivative counterparty fails to make any payment by the close of business on the day it is required to make payment under the terms of such Derivative Contract, the Trustee, as Supplemental Interest Trust Trustee shall, promptly following actual notice of the derivative counterparty’s failure to pay, demand that such Guarantor make any and all payments then required to be made by such Guarantor pursuant to such Guaranty; provided that the Trustee, as Supplemental Interest Trust Trustee shall in no event be liable for any failure or delay in the performance by the Derivative Counterparty’s or such Guarantor’s of its obligations hereunder or pursuant to such Derivative Contract and the Guaranty, nor for any special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits) in connection therewith.
 
Section 4.10. Tax Treatment of Class IO Distribution Amounts in the Event of Resecuritization of Class A, Class M or Class B Certificates.
 
In the event that any Class A, Class M or Class B Certificate is resecuritized in a REMIC (the “Resecuritization REMIC”), for federal income tax purposes, (i) payments on the REMIC 3 Regular Interest corresponding to such Class A, Class M or Class B Certificate shall, for the avoidance of doubt, be deemed to include the Class IO Distribution Amount, and (ii) to the extent provided in the operative documents for the Resecuritization REMIC, (a) payments on the “regular interests” issued by the Resecuritization REMIC shall be deemed to include in the aggregate such Class IO Distribution Amount, and (b) such Class IO Distribution Amount shall be deemed paid to the holder of the Class C Certificates pursuant to a notional principal contract entered into by the holders of one or more “regular interests” issued by the Resecuritization REMIC (“Resecuritization Holders”) and the Holder of the Class C Certificates. In such event, Class IO Distribution Amounts deemed paid by Resecuritization Holders under clause (b) of the immediately preceding sentence shall be paid on behalf of such holders pursuant to Section 4.09(ii) hereof.
 
Section 4.11. Collateral Account.
 
(a) The Trustee, as Supplemental Interest Trust Trustee, is hereby directed to perform the obligations of the Custodian as defined under Credit Support Annex One (the “Custodian”).
 
On or before the Closing Date, the Custodian shall establish the Collateral Account. The Collateral Account shall be held in the name of the Custodian in trust for the benefit of the Holders of the Class A, Class M and Class B Certificates. The Collateral Account must be an Eligible Account segregated from the Certificate Account and any other moneys of the Trustee held pursuant to this Agreement and shall be entitled “Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3, Collateral Account, Supplemental Interest Trust Trustee, as Custodian for the benefit of holders of the Class A, Class M and Class B Certificates.”
 
The Custodian shall credit to Collateral Account all collateral (whether in the form of cash or securities) posted by Lehman Brothers Special Financing Inc. to secure the obligations of Lehman Brothers Special Financing Inc. in accordance with the terms of Credit Support Annex One. The Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Collateral Account in accordance with Credit Support Annex One.
 

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Cash collateral posted by Lehman Brothers Special Financing Inc. in accordance with Credit Support Annex One shall be invested at the written direction of Lehman Brothers Special Financing Inc. in Permitted Investments in accordance with the requirements of Credit Support Annex One. All amounts earned on amounts on deposit in Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to Lehman Brothers Special Financing Inc. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon.
 
Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Schedule) with respect to Lehman Brothers Special Financing Inc. or upon occurrence or designation of an Early Termination Date (as defined in the Schedule) as a result of any such Event of Default or Specified Condition with respect to Lehman Brothers Special Financing Inc., and, in either such case, unless Lehman Brothers Special Financing Inc. has paid in full all of its Obligations (as defined in Credit Support Annex One) that are then due, then any collateral posted by Lehman Brothers Special Financing Inc. in accordance with Credit Support Annex One, shall be applied by the Custodian to the payment of any Obligations due to Party B (each as defined in Credit Support Annex One) in accordance with Credit Support Annex One. Any excess collateral posted by Lehman Brothers Special Financing Inc. in accordance with Credit Support Annex One and remaining after payment of all amounts owing to Party B shall be withdrawn from the Collateral Account and paid to Lehman Brothers Special Financing Inc. in accordance with Credit Support Annex One.
 
(b) The Trustee, as Supplemental Interest Trust Trustee, is hereby directed to perform the obligations of the Custodian as defined under Credit Support Annex Two (the “Custodian”).
 
On or before the Closing Date, the Custodian shall establish the Collateral Account. The Collateral Account shall be held in the name of the Custodian in trust for the benefit of the Holders of the Class A, Class M and Class B Certificates. The Collateral Account must be an Eligible Account segregated from the Certificate Account and any other moneys of the Trustee held pursuant to this Agreement and shall be entitled “Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3, Collateral Account, Supplemental Interest Trust Trustee, as Custodian for the benefit of holders of the Class A, Class M and Class B Certificates.”
 
The Custodian shall credit to Collateral Account all collateral (whether in the form of cash or securities) posted by Bear Stearns Financial Products Inc. to secure the obligations of Bear Stearns Financial Products Inc. in accordance with the terms of the Credit Support Annex Two. The Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Collateral Account in accordance with Credit Support Annex Two.
 
Cash collateral posted by Bear Stearns Financial Products Inc. in accordance with Credit Support Annex Two shall be invested at the written direction of Bear Stearns Financial Products Inc. in Permitted Investments in accordance with the requirements of Credit Support Annex Two. All amounts earned on amounts on deposit in Collateral Account (whether cash collateral or securities) shall be for the account of and taxable to Bear Stearns Financial Products Inc. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon.
 

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Upon the occurrence of an Event of Default or Specified Condition (each as defined in the Schedule) with respect to Bear Stearns Financial Products Inc. or upon occurrence or designation of an Early Termination Date (as defined in the Schedule) as a result of any such Event of Default or Specified Condition with respect to Bear Stearns Financial Products Inc., and, in either such case, unless Bear Stearns Financial Products Inc. has paid in full all of its Obligations (as defined in Credit Support Annex Two) that are then due, then any collateral posted by Bear Stearns Financial Products Inc. in accordance with Credit Support Annex Two, shall be applied by the Custodian to the payment of any Obligations due to Party B (each as defined in Credit Support Annex Two) in accordance with Credit Support Annex Two. Any excess collateral posted by Bear Stearns Financial Products Inc. in accordance with Credit Support Annex Two and remaining after payment of all amounts owing to Party B shall be withdrawn from the Collateral Account and paid to Bear Stearns Financial Products Inc. in accordance with Credit Support Annex Two.
 
Section 4.12. The Certificate Guaranty Insurance Policy.
 
(i) If the Trustee determines that an Insured Amount to be covered by the Certificate Guaranty Insurance Policy will exist for the related Distribution Date, the Trustee shall complete the notice in the form of Exhibit A to the Certificate Guaranty Insurance Policy (the “Notice”) and submit such Notice in accordance with the Certificate Guaranty Insurance Policy to the Certificate Insurer no later than 12:00 P.M., New York City time, on the second Business Day immediately preceding such Distribution Date, as a claim for the amount of such Insured Amount.
 
(ii) The Trustee shall establish and maintain the Insurance Account on behalf of the Holders of the Class AM Certificates over which the Trustee shall have the exclusive control and sole right of withdrawal. Upon receipt of an Insured Amount from the Certificate Insurer on behalf of the Holders of the Class AM Certificates, the Trustee shall deposit such Insured Amount in the Insurance Account and distribute such amount only for purposes of payment to the Class AM Certificates of the Insured Amount for which a claim was made. Any such Insured Amount may not be applied to satisfy any costs, expenses or liabilities of the Seller, the Depositor, the Trustee or the Trust Fund or to pay any other Class of Certificates. Amounts paid under the Certificate Guaranty Insurance Policy, to the extent needed to pay the Insured Amount, shall be disbursed by the Trustee to the Holders of the Class AM Certificates. It shall not be necessary for such payments to be made by checks or wire transfers separate from the checks or wire transfers used to pay other distributions to the Holders of the Class AM Certificates with other funds available to make such payment. However, the amount of any payment of principal or of interest on the Class AM Certificates to be paid from funds transferred from the Insurance Account shall be noted as provided in paragraph (d) below and in the statement to be furnished to Holders of the Class AM Certificates pursuant to Section 4.02. Funds held in the Insurance Account shall not be invested. Any funds remaining in the Insurance Account on the first Business Day following the later of (i) the related Distribution Date or (ii) the date received by the Trustee, shall be returned to the Certificate Insurer pursuant to the written instructions of the Certificate Insurer by the end of such Business Day.
 

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(iii) The Trustee shall keep a complete and accurate record of the amount of interest and principal paid in respect of the Class AM Certificates from moneys received under the Certificate Guaranty Insurance Policy. The Certificate Insurer shall have the right to inspect such records at reasonable times during normal business hours upon one Business Day’s prior notice to the Trustee.
 
(iv) In the event that the Trustee has received a certified copy of an order of the appropriate court that any Insured Amount has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Trustee shall so notify the Certificate Insurer, shall comply with the provisions of the Certificate Guaranty Insurance Policy to obtain payment by the Certificate Insurer of such Preference Amount in the amount of such voided Insured Amount, and shall, at the time it provides notice to the Certificate Insurer, notify, by mail the Holders of the Class AM Certificates that, in the event any Holder’s Insured Amount is so recovered, such Holder of a Class AM Certificate will be entitled to payment pursuant to the Certificate Guaranty Insurance Policy, a copy of which shall be made available through the Trustee or the Certificate Insurer, and the Trustee shall furnish to the Certificate Insurer, its records evidencing the payments which have been made by the Trustee and subsequently recovered from the Holders of the Class AM Certificates and dates on which such payments were made.
 
(v) The Trustee shall promptly notify the Certificate Insurer of any proceeding or the institution of any action, of which a Responsible Officer of the Trustee has actual knowledge, seeking the avoidance as a preferential transfer under applicable bankruptcy, insolvency, receivership or similar law (a “Preference Claim”) of any distribution made with respect to the Class AM Certificates. Each Holder of a Class AM Certificate, by its purchase of such Class AM Certificate, the Depositor and the Trustee agree that the Certificate Insurer (so long as no Certificate Insurer Default exists) may at any time during the continuation of any proceeding relating to a Preference Claim direct all matters relating to such Preference Claim, including, without limitation, (i) the direction of any appeal of any order relating to such Preference Claim and (ii) the posting of any surety or performance bond pending any such appeal. In addition and without limitation of the foregoing, the Certificate Insurer shall be subrogated to, and each Holder of a Class AM Certificate and the Trustee hereby delegates and assigns to the Certificate Insurer, to the fullest extent permitted by law, the rights of the Trustee and each Holder of a Class AM Certificate in the conduct of any such Preference Claim, including, without limitation, all rights of any party to any adversary proceeding or action with respect to any court order issued in connection with any such Preference Claim.
 
(vi) The Trustee shall, upon retirement of the Class AM Certificates, furnish to the Certificate Insurer a notice of such retirement, and, upon retirement of the Class AM Certificates and the expiration of the term of the Certificate Guaranty Insurance Policy, surrender the Certificate Guaranty Insurance Policy to the Certificate Insurer for cancellation.
 
(vii) The Trustee will hold the Certificate Guaranty Insurance Policy in trust as agent for the Holders of the Class AM Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Certificate Guaranty Insurance Policy nor the amounts paid on the Certificate Guaranty Insurance Policy will constitute part of the Trust Fund created by this Agreement. Each Holder of the Class AM Certificates, by accepting its Class AM Certificates, appoints the Trustee as attorney in fact for the purpose of making claims on the Certificate Guaranty Insurance Policy.
 

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(viii) Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on the Class AM Certificates, which is made with moneys received pursuant to the terms of the Certificate Guaranty Insurance Policy, shall not be considered payment of the Class AM Certificates from the Trust Fund. The Depositor and the Trustee acknowledge, and each Holder by its acceptance of a Class AM Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor or the Trustee (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal or interest on the Class AM Certificates to the Holders of such Class AM Certificates, the Certificate Insurer will be fully subrogated to, and the Trustee and each Holder of a Class AM Certificate, hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund, including, without limitation, any amounts due to the Holders of the Class AM Certificates, in respect of securities law violations arising from the offer and sale of the Class AM Certificates and (b) the Certificate Insurer shall be paid such amounts from the sources and in the manner provided herein for the payment of such amounts and as provided in this Agreement. The Trustee shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
 
(ix) By accepting its Class AM Certificate, each Holder of a Class AM Certificate agrees that, unless a Certificate Insurer Default exists, the Certificate Insurer shall be deemed to be the Holder of the Class AM Certificate for all purposes (other than with respect to the receipt of payment on the Class AM Certificates) and shall have the right to exercise all rights (including, without limitation, voting rights) of the Holders of the Class AM Certificates under this Agreement without any further consent of the Holders of the Class AM Certificates. All notices, statement reports, certificates or opinions required by this Agreement to be sent to any Holders of Class AM Certificates shall also be sent to the Certificate Insurer.
 
Section 4.13. Class M Interest Reserve Fund.
 
(a) The Trustee shall establish and maintain in its name, in trust for the benefit of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, the Class M Interest Reserve Fund, which shall be a segregated non-interest bearing trust account. On the Closing Date, the Depositor shall deposit into the Class M Interest Reserve Fund an amount equal to the sum of the Class M-4 Interest Reserve Fund Amount, the Class M-5 Interest Reserve Fund Amount, the Class M-6 Interest Reserve Fund Amount and the Class M-7 Interest Reserve Fund Amount. The Depositor will have no obligation to contribute additional amounts to the Class M Interest Reserve Fund after the Closing Date. The Class M Interest Reserve Fund will not receive any amounts from any Net Monthly Excess Cashflow.
 
On each Distribution Date as to which there is a Net WAC Shortfall Amount payable to any of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, the Trustee shall withdraw an amount equal to such Net WAC Shortfall Amount (provided, however, that such amount shall not exceed the related Class M Interest Reserve Fund Amount) and distribute such amounts to the Holders of the Class M-4, Class M-5, Class M-6 and Class M-7 Certificates in respect of such Net WAC Shortfall Amount for each such Class in accordance with the fourth paragraph of Section 4.01(a). Any amount paid to the Holders of any Class M-4, Class M-5, Class M-6 and Class M-7 Certificates pursuant to the preceding sentence in respect of Net WAC Shortfall Amounts shall not be a payment with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon.
 

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(b) The Class M Interest Reserve Fund is an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any REMIC. The Depositor shall be the beneficial owner of the Class M Interest Reserve Fund, subject to the power of the Trustee to transfer amounts under Section 4.01. Amounts in the Class M Interest Reserve Fund shall, at the written direction of the Depositor, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. In the absence of such written direction, all funds in the Class M Interest Reserve Fund shall remain uninvested. All net income and gain from such investments shall be distributed to the Depositor, not as a distribution in respect of any interest in any REMIC, on each such Distribution Date. All amounts earned on amounts on deposit in the Class M Interest Reserve Fund shall be taxable to the Depositor. Any losses on such investments shall be refunded to the Class M Interest Reserve Fund by the Depositor out of its own funds immediately as realized. If any amounts remain in the Class M Interest Reserve Fund at the termination of the Trust Fund, they will be remitted to the Depositor.
 
Section 4.14. Pre-Funding Account.
 
(a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account or sub-account of a trust account, which shall be titled “Pre-Funding Account, Deutsche Bank National Trust Company, as trustee for the benefit of holders of Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3” (the “Pre-Funding Account”). The Pre-Funding Account shall be an Eligible Account or a sub-account of an Eligible Account. The Trustee shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funding Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust by the Trustee for the Holders of the Certificates and the Certificate Insurer for the uses and purposes set forth herein.
 
(b) The Trustee shall invest funds deposited in the Pre-Funding Account as directed by the Depositor or its designee in writing in Permitted Investments with a maturity date no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, or, if no written direction is received by the Trustee from the Depositor, then funds in such account shall remain uninvested. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon. For federal income tax purposes, the Depositor or its designee shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Interest Coverage Account on the Business Day immediately preceding each Distribution Date during the Pre-Funding Period. The Depositor or its designee shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor. At no time will the Pre-Funding Account be an asset of any REMIC created hereunder.Amounts on deposit in the Pre-Funding Account shall be withdrawn by the Trustee as follows:
 

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(i) On any Subsequent Transfer Date, the Trustee shall withdraw from the Pre-Funding Account an amount equal to 100% of the Stated Principal Balances of the subsequent mortgage loans (as identified on the Mortgage Loan Schedule provided by the Depositor) transferred and assigned to the Trustee for deposit on such Subsequent Transfer Date and remit such amount to the Depositor;
 
(ii) If the amount on deposit in the Pre-Funding Account (exclusive of investment income) has not been reduced to zero by the close of business on the date of termination of the Pre-Funding Period, then at the close of business on such date, the Trustee shall deposit into the Distribution Account any amounts remaining in the Pre-Funding Account (exclusive of investment income) for distribution in accordance with Section 4.01; and
 
(iii) To withdraw any amount not required to be deposited in the Pre-Funding Account or deposited therein in error; and
 
Withdrawals pursuant to clauses (i), (ii) and (iv) shall be treated as contributions of cash to REMIC I on the date of withdrawal.
 
Section 4.15. Interest Coverage Account.
 
(a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account or a sub-account of a trust account, which shall be titled “Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the benefit of holders of Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3” (the “Interest Coverage Account”). The Interest Coverage Account shall be an Eligible Account or a sub-account of an Eligible Account. The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Initial Interest Coverage Deposit remitted on the Closing Date to the Trustee by the Depositor and all income and gain realized from investment of funds on deposit in the Pre-Funding Account pursuant to Section 4.14(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders and the Certificate Insurer for the uses and purposes set forth herein.
 
(b) For federal income tax purposes, the Depositor shall be the owner of the Interest Coverage Account and shall report all items of income, deduction, gain or loss arising therefrom. At no time will the Interest Coverage Account be an asset of any REMIC created hereunder. All income and gain realized from investment of funds deposited in the Interest Coverage Account, which investment shall be made solely upon the written direction of the Depositor, shall be for the sole and exclusive benefit of the Depositor and shall be remitted by the Trustee to the Depositor no later than the first Business Day following receipt of such income and gain by the Trustee. If no written direction with respect to such investment shall be received by the Trustee from the Depositor, then funds in such Account shall remain uninvested. The Trustee shall not be liable for the selection of investments or investment losses incurred thereon. The Depositor shall deposit in the Interest Coverage Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss and any additional amounts necessary to make the distributions pursuant to paragraph (c) to the extent that amounts on deposit in the Interest Coverage Account are insufficient.
 

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(c) On each Distribution Date during the Pre-Funding Period and on the day of termination of the Pre-Funding Period, the Trustee shall withdraw from the Interest Coverage Account and deposit in the Distribution Account an amount equal to the Interest Coverage Distribution Amount for such Distribution Date. Such withdrawal and deposit shall be treated as a contribution of cash by the Depositor to REMIC I on the date thereof. Immediately following any such withdrawal and deposit, and immediately following the conveyance of any Subsequent Mortgage Loan to the Trust on any Subsequent Transfer Date, the Trustee shall, at the request of the Depositor, withdraw from the Interest Coverage Account and remit to the Depositor or its designee an amount equal to the excess, if any, of the amount remaining in such Interest Coverage Account over the amount that would be required to be withdrawn therefrom (assuming sufficient funds therein) pursuant to the first sentence of this paragraph on each subsequent Distribution Date, if any, that will occur during the Pre-Funding Period or on the day of termination of the Pre-Funding Period if no Subsequent Mortgage Loan were acquired by the Trust Fund after the end of the Prepayment Period relating to the current Distribution Date or the Distribution Date following the end of the Pre-Funding Period, as applicable. On the day of termination of the Pre-Funding Period, the Trustee shall withdraw from the Interest Coverage Account and remit to the Depositor or its designee the amount remaining in such Interest Coverage Account after payment of the amount required to be withdrawn therefrom pursuant to the first sentence of this paragraph on the day of termination of the Pre-Funding Period.
 
(d) Upon the earliest of (i) the Distribution Date immediately following the end of the Pre-Funding Period, (ii) the reduction of the Certificate Principal Balance of the Certificates to zero and (iii) the termination of this Agreement in accordance with Section 9.01, any amount remaining on deposit in the Interest Coverage Account after distributions pursuant to paragraph (c) above shall be withdrawn by the Trustee and paid to the Depositor or its designee.
 

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ARTICLE V
 
THE CERTIFICATES
 
Section 5.01. The Certificates.
 
(a) The Certificates will be substantially in the respective forms annexed hereto as Exhibits A and B-1 through B-5. The Certificates will be issuable in registered form only. The Certificates (other than the Class P, Class C and Class R Certificates) will be issued in minimum denominations of $25,000 Initial Certificate Principal Balance and integral multiples of $1 in excess thereof. The Class C Certificates will be issued in minimum denominations of $1.00 Initial Notional Amount and integral multiples of $1.00 in excess thereof. The Class P Certificates and the Class R Certificates will each be issuable in minimum denominations of any Percentage Interest representing 10.00% and multiples of 0.01% in excess thereof.
 
Upon original issue, the Certificates shall, upon the written request of the Depositor executed by an officer of the Depositor, be executed and delivered by the Trustee, authenticated by the Trustee and delivered to or upon the order of the Depositor upon receipt by the Trustee of the documents specified in Section 2.01. The Certificates shall be executed by manual or facsimile signature on behalf of the Trustee in its capacity as trustee hereunder by a Responsible Officer. Certificates bearing the manual or facsimile signatures of individuals who were at the time they signed the proper officers of the Trustee shall bind the Trustee, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificates or did not hold such offices at the date of such Certificates. No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless there appears on such Certificate a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date and any Certificates delivered thereafter shall be dated the date of their authentication.
 
(b) The Class A, Class M and Class B Certificates shall initially be issued as one or more Certificates registered in the name of the Depository or its nominee and, except as provided below, registration of such Certificates may not be transferred by the Trustee except to another Depository that agrees to hold such Certificates for the respective Certificate Owners with Ownership Interests therein. The Certificate Owners shall hold their respective Ownership Interests in and to each of such Book-Entry Certificates through the book-entry facilities of the Depository and, except as provided below, shall not be entitled to Definitive Certificates in respect of such Ownership Interests. All transfers by Certificate Owners of their respective Ownership Interests in the Book-Entry Certificates shall be made in accordance with the procedures established by the Depository Participant or brokerage firm representing such Certificate Owner. Each Depository Participant shall transfer the Ownership Interests only in the Book-Entry Certificates of Certificate Owners it represents or of brokerage firms for which it acts as agent in accordance with the Depository's normal procedures. The Trustee shall not be required to monitor, determine or inquire as to compliance with the transfer restrictions with respect to the Book-Entry Certificates, and the Trustee shall have no liability for transfers of Ownership Interests in the Book Entry Certificates made through the book-entry facilities of the Depositary or between or among Depositary Participants or Certificate Owners, made in violation of the applicable restrictions.
 

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The Trustee, the Master Servicer and the Depositor may for all purposes (including the making of payments due on the respective Classes of Book-Entry Certificates) deal with the Depository as the authorized representative of the Certificate Owners with respect to the respective Classes of Book-Entry Certificates for the purposes of exercising the rights of Certificateholders hereunder. The rights of Certificate Owners with respect to the respective Classes of Book-Entry Certificates shall be limited to those established by law and agreements between such Certificate Owners and the Depository Participants and brokerage firms representing such Certificate Owners. Multiple requests and directions from, and votes of, the Depository as Holder of any Class of Book-Entry Certificates with respect to any particular matter shall not be deemed inconsistent if they are made with respect to different Certificate Owners. The Trustee may establish a reasonable record date in connection with solicitations of consents from or voting by Certificateholders and shall give notice to the Depository of such record date.
 
If (i)(A) the Depositor advises the Trustee in writing that the Depository is no longer willing or able to properly discharge its responsibilities as Depository and (B) the Depositor is unable to locate a qualified successor or (ii) the Depositor at its option advises the Trustee in writing that it elects to terminate the book-entry system through the Depository, the Trustee shall notify all Certificate Owners, through the Depository, of the occurrence of any such event and of the availability of Definitive Certificates to Certificate Owners requesting the same. Upon surrender to the Trustee of the Book-Entry Certificates by the Depository, accompanied by registration instructions from the Depository for registration of transfer, the Trustee shall, at the expense of the Depositor, issue the Definitive Certificates. Neither the Depositor, the Master Servicer nor the Trustee shall be liable for any actions taken by the Depository or its nominee, including, without limitation, any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Certificates the Trustee and the Master Servicer shall recognize the Holders of the Definitive Certificates as Certificateholders hereunder.
 
(c) Each Certificate is intended to be a “security” governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York and any other applicable jurisdiction, to the extent that any of such laws may be applicable.
 
Section 5.02. Registration of Transfer and Exchange of Certificates.
 
(a) The Trustee shall maintain a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Trustee shall provide for the registration of Certificates and of transfers and exchanges of Certificates as herein provided.
 
(b) Except as provided in Section 5.02(c), no transfer, sale, pledge or other disposition of a Class P, Class C or Class R Certificate shall be made unless such transfer, sale, pledge or other disposition is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and any applicable state securities laws or is made in accordance with said Act and laws. In the event that a transfer of a Class P, Class C or Class R Certificate is to be made under this Section 5.02(b), (i) the Trustee shall require an Opinion of Counsel acceptable to and in form and substance satisfactory to the Trustee that such transfer shall be made pursuant to an exemption, describing the applicable exemption and the basis therefor, from said Act and laws or is being made pursuant to said Act and laws, which Opinion of Counsel shall not be an expense of the Trustee, the Depositor or the Master Servicer, provided that such Opinion of Counsel will not be required in connection with the initial transfer of any such Certificate by the Depositor or any affiliate thereof, to a non-affiliate of the Depositor and (ii) the Trustee shall require the transferee to execute a representation letter, substantially in the form of Exhibit G-1 hereto, and the Trustee shall require the transferor to execute a representation letter, substantially in the form of Exhibit G-2 hereto, each acceptable to and in form and substance satisfactory to the Trustee certifying to the Depositor and the Trustee the facts surrounding such transfer, which representation letters shall not be an expense of the Trustee, the Depositor or the Master Servicer; provided, however, that such representation letters will not be required in connection with any transfer of any such Certificate by the Depositor to an affiliate of the Depositor and the Trustee shall be entitled to conclusively rely upon a representation (which, upon the request of the Trustee, shall be a written representation) from the Depositor of the status of such transferee as an affiliate of the Depositor. Any such Certificateholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee, the Depositor and the Master Servicer against any liability that may result if the transfer is not so exempt or is not made in accordance with such applicable federal and state laws.
 
 

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No transfer of any Class C Certificate shall be made unless the proposed transferee of such Class C Certificate (1) provides to the Trustee the appropriate tax certification forms that would eliminate any withholding or deduction for taxes from amounts payable by the Swap Provider, pursuant to the related Interest Rate Swap Agreement, and by the Cap Counterparties, pursuant to the Cap Contacts, to the Supplemental Interest Trust (i.e., IRS Form W-9 or IRS Form W-8BEN, W-8IMY, W-8EXP or W-8ECI, as applicable (or any successor form thereto), together with any applicable attachments) and (2) agrees to update such forms (i) upon expiration of any such forms, (ii) as required under then applicable U.S. Treasury regulations and (iii) promptly upon learning that such forms have become obsolete or incorrect, each as a condition to such transfer. In addition, no transfer of any Class C Certificate shall be made if such transfer would cause the Supplemental Interest Trust to be beneficially owned by two or more persons for federal income tax purposes, or continue to be so treated, unless (i) each proposed transferee of such Class C Certificate complies with the foregoing conditions, and (ii) the proposed majority holder of the Class C Certificates (or each holder, if there is or would be no majority holder) (A) provides, or causes to be provided, on behalf of the Supplemental Interest Trust, if applicable, to the Trustee the appropriate tax certification forms that would be required from the Supplemental Interest Trust to eliminate any withholding or deduction for taxes from amounts payable by the Swap Provider, pursuant to the Interest Rate Swap Agreement, and by the Cap Counterparties, pursuant to the Cap Contacts, to the Supplemental Interest Trust (i.e., IRS Form W-9 or IRS Form W-8BEN, W-8IMY, W-8EXP or W-8ECI, as applicable (or any successor form thereto), together with any applicable attachments) and (B) agrees to update such forms (x) upon expiration of any such forms, (y) as required under then applicable U.S. Treasury regulations and (z) promptly upon learning that such forms have become obsolete or incorrect. If, under applicable U.S. Treasury regulations, such tax certification forms may only be signed by a trustee acting on behalf of the Supplemental Interest Trust, then the Trustee, as the Supplemental Interest Trust Trustee, shall sign such certification forms if so directed by a Holder of the Class C Certificates. Upon receipt of any such tax certification forms from a proposed transferee or Holder of any Class C Certificate, the Trustee, as the Supplemental Interest Trust Trustee, shall forward a copy of such tax certification forms provided to it to the Swap Provider and the Cap Counterparties. Each Holder of a Class C Certificate and each transferee thereof shall be deemed to have consented to the Trustee, as the Supplemental Interest Trust Trustee, forwarding to the Swap Provider and Cap Counterparties any tax certification form it has provided and updated in accordance with these transfer restrictions. Any purported sales or transfers of any Class C Certificate to a transferee which does not comply with the requirements of this paragraph shall be deemed null and void under this Agreement.
 

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The Trustee shall not be liable for the content or truthfulness of any such tax certification forms provided to it. The Trustee shall only be required to forward any tax certification forms received by it to the Swap Provider and Cap Counterparties at the last known address provided to it, and shall not be liable for the receipt of such tax certification forms by the Swap Provider or the Cap Counterparties, nor any failure of the Swap Provider or Cap Counterparties to process such forms or to take any action as required under the respective Interest Rate Swap Agreement or Cap Contract, or under applicable law. The Trustee shall have no duty to take action to correct any misstatement or omission in any tax certification forms provided to it and forwarded to the Swap Provider and Cap Counterparties.
 
(c) Notwithstanding the requirements of Section 5.02(b), transfers of Class B, Class P, Class C and Class R Certificates may be made in accordance with this Section 5.02(c) if the prospective transferee of a Certificate provides the Trustee and the Depositor with an investment letter substantially in the form of Exhibit G-3 attached hereto, which investment letter shall not be an expense of the Trustee, the Depositor or the Master Servicer, and which investment letter states that, among other things, such transferee is a “qualified institutional buyer” as defined under Rule 144A. Such transfers shall be deemed to have complied with the requirements of Section 5.02(b) hereof. Any such Certificateholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee, the Depositor and the Master Servicer against any liability that may result if the transfer is not so exempt or is not made in accordance with such applicable federal and state laws.
 
The Trustee shall require an Opinion of Counsel, on which the Trustee, Depositor and Master Servicer may rely, from a prospective transferee prior to the transfer of any Class P, Class C and Class R Certificate to any employee benefit plan or other retirement arrangement, including individual retirement accounts and Keogh plans, that is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Code (any of the foregoing, a “Plan”), to a trustee or other Person acting on behalf of any Plan, or to any other person who is using “plan assets” of any Plan to effect such acquisition (including any insurance company using funds in its general or separate accounts that may constitute “plan assets” of a Plan). Such Opinion of Counsel must establish to the satisfaction of the Trustee that such transfer is permissible under applicable law, will not constitute or result in a prohibited transaction under Section 406 of ERISA and Section 4975 of the Code, and will not subject the Trustee, the Master Servicer or the Depositor to any obligation in addition to those undertaken in this Agreement. Neither the Depositor, the Master Servicer nor the Trustee, will be required to obtain such Opinion of Counsel on behalf of any prospective transferee.
 

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Prior to the termination of the Supplemental Interest Trust, each beneficial owner of a Class A, Class M and Class B Certificate or any interest therein, shall be deemed to have represented, by virtue of its acquisition or holding of the Class A, Class M and Class B Certificate, or interest therein, that either (i) it is not a Plan or (ii) (A) it is an accredited investor within the meaning of Prohibited Transaction Exemption 2007-05 (the “Exemption”) and (B) the acquisition and holding of such Certificate and the separate right to receive payments from the Supplemental Interest Trust are eligible for the exemptive relief available under one of Prohibited Transaction Class Exemption (“PTCE”) 84-14, 91-38, 95-60, 90-1 or 96-23.
 
Each beneficial owner of a Subordinate Certificate or any interest therein which is acquired subsequent to the termination of the Supplemental Interest Trust shall be deemed to have represented, by virtue of its acquisition or holding of that Certificate or interest therein, that either (i) it is not a Plan or a trustee or other Person acting on behalf of a Plan or using “plan assets” of a Plan to effect such acquisition (including any insurance company using funds in its general or separate accounts that may constitute “plan assets”), (ii) it has acquired and is holding such Certificate in reliance on the Exemption, in the case of a privately offered certificate, it is an “accredited investor” as defined in Rule 501(a)(1) of Regulation D of the Securities Act of 1933, as amended, and that it understands that there are certain conditions to the availability of the Exemption, including that the Certificate must be rated, at the time of purchase, not lower than “BBB-” (or its equivalent) by Standard & Poor’s, Fitch Ratings, Inc., Moody’s, Dominion Bond Rating Service Limited (known as DBRS Limited) or Dominion Bond Rating Service, Inc. (known as DBRS, Inc.) and the Certificate is so rated or (iii) (1) it is an insurance company, (2) the source of funds used to acquire or hold the Certificate or interest therein is an “insurance company general account,” as such term is defined in PTCE 95-60, and (3) the conditions in Sections I and III of PTCE 95-60 have been satisfied.
 
(d) [Reserved]
 
(e) (i) Each Person who has or who acquires any Ownership Interest in a Class R Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the following provisions and to have irrevocably authorized the Trustee or its designee under clause (iii)(A) below to deliver payments to a Person other than such Person and to negotiate the terms of any mandatory sale under clause (iii)(B) below and to execute all instruments of transfer and to do all other things necessary in connection with any such sale. The rights of each Person acquiring any Ownership Interest in a Class R Certificate are expressly subject to the following provisions:
 
(A) Each Person holding or acquiring any Ownership Interest in a Class R Certificate shall be a Permitted Transferee and shall promptly notify the Trustee of any change or impending change in its status as a Permitted Transferee.
 
(B) In connection with any proposed Transfer of any Ownership Interest in a Class R Certificate, the Trustee shall require delivery to it, and shall not register the Transfer of any Class R Certificate until its receipt, of (I) an affidavit and agreement in the form attached hereto as Exhibit G-5 (a “Transferee Affidavit and Agreement”) from the proposed Transferee, in form and substance satisfactory to the Trustee representing and warranting, among other things, that it is a Permitted Transferee, that it is not acquiring its Ownership Interest in the Class R Certificate that is the subject of the proposed Transfer as a nominee, trustee or agent for any Person who is not a Permitted Transferee, that for so long as it retains its Ownership Interest in a Class R Certificate, it will endeavor to remain a Permitted Transferee, and that it has reviewed the provisions of this Section 5.02 and agrees to be bound by them, and (II) an affidavit, in the form attached hereto as Exhibit G-4, from the Holder wishing to transfer the Class R Certificate, in form and substance satisfactory to the Trustee representing and warranting, among other things, that no purpose of the proposed Transfer is to impede the assessment or collection of tax and that it has no knowledge that the proposed transferee is not a Permitted Transferee (“Transferor Affidavit”).
 

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(C) Notwithstanding the delivery of a Transfer Affidavit and Agreement by a proposed Transferee under clause (B) above, if a Responsible Officer of the Trustee assigned to this transaction has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer of an Ownership Interest in a Class R Certificate to such proposed Transferee shall be effected.
 
(D) Each Person holding or acquiring any Ownership Interest in a Class R Certificate shall agree (x) to require a Transferee Affidavit and Agreement from any other Person to whom such Person attempts to transfer its Ownership Interest in a Class R Certificate and (y) not to transfer its Ownership Interest unless it provides a Transferor Affidavit to the Trustee.
 
(E) Each Person holding or acquiring an Ownership Interest in a Class R Certificate, by purchasing an Ownership Interest in such Certificate, agrees to give the Trustee written notice that it is a “pass-through interest holder” within the meaning of Temporary Treasury Regulations Section 1.67-3T(a)(2)(i)(A) immediately upon acquiring an Ownership Interest in a Class R Certificate, if it is “a pass-through interest holder”, or is holding an Ownership Interest in a Class R Certificate on behalf of a “pass-through interest holder.”
 
(ii) The Trustee will register the Transfer of any Class R Certificate only if it shall have received the Transferee Affidavit and Agreement, a Transferor Affidavit of the Holder requesting such transfer and all of such other documents as shall have been reasonably required by the Trustee as a condition to such registration. Transfers of the Class R Certificates other than to Permitted Transferees are prohibited.
 
(iii) (A) If any Person other than a Permitted Transferee shall become a Holder of a Class R Certificate, then the last preceding Permitted Transferee shall be restored, to the extent permitted by law, to all rights and obligations as Holder thereof retroactive to the date of registration of such Transfer of such Class R Certificate. If a transfer of a Class R Certificate is disregarded pursuant to the provisions of Treasury Regulations Section 1.860E-1 or Section 1.860G-3, then the last preceding Permitted Transferee shall be restored, to the extent permitted by law, to all rights and obligations as Holder thereof retroactive to the date of registration of such transfer of such Class R Certificate. The prior Holder shall be entitled to recover from any purported Holder of a Class R Certificate that was in fact not a Permitted Transferee under this Section 5.02(e) at the time it became a Holder all payments made on such Class R Certificate. Each Holder of a Class R Certificate, by acceptance thereof, shall be deemed for all purposes to have consented to the provisions of this Section 5.02(e) and to any amendment of this Agreement deemed necessary (whether as a result of new legislation or otherwise) by counsel of the Depositor to ensure that the Class R Certificates are not transferred to any Person who is not a Permitted Transferee and that any transfer of such Class R Certificates will not cause the imposition of a tax upon the Trust or cause any such REMIC to fail to qualify as a REMIC. Neither the Trustee nor the Trustee shall be under any liability to any Person for any registration of Transfer of a Class R Certificate that is in fact not permitted by this Section 5.02 or for making any payments due on such Certificate to the Holder thereof or for taking any other action with respect to such Holder under the provisions of this Agreement.
 

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(B)  If any purported Transferee shall become a Holder of a Class R Certificate in violation of the restrictions in this Section 5.02 and to the extent that the retroactive restoration of the rights of the Holder of such Class R Certificate as described in clause (iii)(A) above shall be invalid, illegal or unenforceable, then the Trustee shall have the right, without notice to the Holder or any prior Holder of such Class R Certificate, to sell such Class R Certificate to a purchaser selected by the Trustee on such terms as the Trustee may choose. Such purported Transferee shall promptly endorse and deliver each Class R Certificate in accordance with the instructions of the Trustee. Such purchaser may be the Trustee itself. The proceeds of such sale, net of the commissions (which may include commissions payable to the Trustee), expenses and taxes due, if any, will be remitted by the Trustee to such purported Transferee. The terms and conditions of any sale under this clause (iii)(B) shall be determined in the sole discretion of the Trustee, and the Trustee shall not be liable to any Person having an Ownership Interest in a Class R Certificate as a result of its exercise of such discretion.
 
(iv) The Trustee shall make available to the Internal Revenue Service and those Persons specified by the REMIC Provisions, all information necessary to compute any tax imposed (A) as a result of the transfer of an ownership interest in a Class R Certificate to any Person who is a Disqualified Organization, including the information regarding “excess inclusions” of such Class R Certificates required to be provided to the Internal Revenue Service and certain Persons as described in Treasury Regulations Sections 1.860D-1(b)(5) and 1.860E-2(a)(5), and (B) as a result of any regulated investment company, real estate investment trust, common trust fund, partnership, trust, estate or organization described in Section 1381 of the Code that holds an Ownership Interest in a Class R Certificate having as among its record Holders at any time any Person who is a Disqualified Organization. The Trustee may charge and shall be entitled to reasonable compensation for providing such information as may be required from those Persons which may have had a tax imposed upon them as specified in clauses (A) and (B) of this paragraph for providing such information.
 
(f) Subject to the preceding paragraphs, upon surrender for registration of transfer of any Certificate at the office of the Trustee maintained for such purpose, the Trustee shall execute and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Certificates of the same Class of a like aggregate Percentage Interest. Every Certificate surrendered for transfer shall be accompanied by notification of the account of the designated transferee or transferees for the purpose of receiving distributions pursuant to Section 4.01 by wire transfer, if any such transferee desires and is eligible for distribution by wire transfer.
 

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(g) At the option of the Certificateholders, Certificates may be exchanged for other Certificates of authorized denominations of the same Class of a like aggregate Percentage Interest, upon surrender of the Certificates to be exchanged at the office of the Trustee. Whenever any Certificates are so surrendered for exchange the Trustee shall execute, authenticate and deliver the Certificates which the Certificateholder making the exchange is entitled to receive. Every Certificate presented or surrendered for transfer or exchange shall (if so required by the Trustee) be duly endorsed by, or be accompanied by a written instrument of transfer in the form satisfactory to the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing. In addition, with respect to each Class R Certificate, the Holder thereof may exchange, in the manner described above, such Class R Certificate for three separate Certificates, each representing such Holder's respective Percentage Interest in the Class R-1 Interest, the Class R-2 Interest and the Class R-3 Interest, respectively, in each case that was evidenced by the Class R Certificate being exchanged.
 
(h) No service charge shall be made to the Certificateholders for any transfer or exchange of Certificates, but the Trustee may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Certificates.
 
(i) All Certificates surrendered for transfer and exchange shall be canceled and retained by the Trustee in accordance with the Trustee’s standard procedures.
 
Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates.
 
If (i) any mutilated Certificate is surrendered to the Trustee and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Trustee such security or indemnity as may be required by it to save it harmless, then, in the absence of notice to the Trustee that such Certificate has been acquired by a bona fide purchaser, the Trustee shall execute, authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of the same Class and Percentage Interest. Upon the issuance of any new Certificate under this Section, the Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. Any replacement Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.
 
Section 5.04. Persons Deemed Owners.
 
The Depositor, the Master Servicer, the Trustee and any agent of any of them may treat the person in whose name any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions pursuant to Section 4.01 and for all other purposes whatsoever, and neither the Depositor, the Master Servicer, the Trustee nor any agent of any of them shall be affected by notice to the contrary.
 
 

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Section 5.05. Rule 144A Information.
 
For so long as any Class P, Class C and Class R are outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) of the Securities Act, (1) the Depositor will provide or cause to be provided to any Holder of such Certificates and any prospective purchaser thereof designated by such a Holder, upon the request of such Holder or prospective purchaser, the information required to be provided to such Holder or prospective purchaser by Rule 144A(d)(4) under the Securities Act; and (2) the Depositor shall update such information from time to time in order to prevent such information from becoming false and misleading and will take such other actions as are necessary to ensure that the safe harbor exemption from the registration requirements of the Securities Act under Rule 144A is and will be available for resales of such Certificates conducted in accordance with Rule 144A. The Master Servicer shall cooperate with the Depositor and furnish the Depositor such information in the Master Servicer's possession as the Depositor may reasonably request.
 

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ARTICLE VI
 
THE DEPOSITOR AND THE MASTER SERVICER
 
Section 6.01. Liability of the Depositor and the Master Servicer.
 
The Depositor and the Master Servicer each shall be liable in accordance herewith only to the extent of the obligations specifically imposed upon and undertaken by the Depositor and the Master Servicer herein. Only the Master Servicer, any successor Master Servicer or the Trustee acting as Master Servicer shall be liable with respect to the servicing of the Mortgage Loans and the REO Property for actions taken by any such Person in contravention of the Master Servicer's duties hereunder.
 
Section 6.02. Merger, Consolidation or Conversion of the Depositor or the Master Servicer.
 
The Depositor and the Master Servicer each will keep in full effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and each will obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement.
 
Any Person into which the Depositor or the Master Servicer may be merged, consolidated or converted, or any corporation resulting from any merger or consolidation to which the Depositor or the Master Servicer shall be a party, or any Person succeeding to the business of the Depositor or the Master Servicer, shall be the successor of the Depositor or the Master Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving Person to the Master Servicer shall be qualified to sell mortgage loans to and service mortgage loans for Fannie Mae or Freddie Mac.
 
Section 6.03. Limitation on Liability of the Depositor, the Master Servicer and Others.
 
Neither the Depositor, the Master Servicer nor any of the directors, officers, employees or agents of the Depositor or the Master Servicer shall be under any liability to the Trust Fund or the Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor or the Master Servicer (but this provision shall protect the above described persons) against any breach of warranties or representations made herein, or against any specific liability imposed on the Master Servicer pursuant to Section 3.01 or any other Section hereof; and provided further that this provision shall not protect the Depositor, the Master Servicer or any such person, against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder. The Depositor, the Master Servicer and any director, officer, employee or agent of the Depositor or the Master Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Depositor, the Master Servicer and any director, officer, employee or agent of the Depositor or the Master Servicer shall be indemnified and held harmless by the Trust Fund against any loss, liability or expense incurred in connection with any legal action relating to this Agreement or the Certificates (including reasonable legal fees and disbursements of counsel), other than (a) any loss, liability or expense related to Master Servicer's servicing obligations with respect to any specific Mortgage Loan or Mortgage Loans (except as any such loss, liability or expense shall be otherwise reimbursable pursuant to this Agreement) or related to the Master Servicer's obligations under Section 3.01, or (b) any loss, liability or expense incurred by reason of willful misfeasance, bad faith or gross negligence in the performance of duties hereunder or by reason of reckless disregard of obligations and duties hereunder. Neither the Depositor nor the Master Servicer shall be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its respective duties under this Agreement and which in its opinion may involve it in any expense or liability; provided, however, that the Depositor or the Master Servicer may in its sole discretion undertake any such action which it may deem necessary or desirable with respect to this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders hereunder. In such event, the legal expenses and costs of such action and any liability resulting therefrom (except any action or liability related to the Master Servicer's obligations under Section 3.01) shall be expenses, costs and liabilities of the Trust Fund, and the Depositor and the Master Servicer shall be entitled to be reimbursed therefor from the Certificate Account as provided in Section 3.11, any such right of reimbursement being prior to the rights of Certificateholders to receive any amount in the Certificate Account.
 
 

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Section 6.04. Limitation on Resignation of the Master Servicer.
 
The Master Servicer shall not resign from the obligations and duties hereby imposed on it except (a) upon appointment of a successor servicer reasonably acceptable to the Trustee and the Certificate Insurer upon receipt by the Trustee and Certificate Insurer (unless an Insurer Default has occurred and is continuing) of a letter from each Rating Agency (obtained by the Master Servicer and at its expense) that such a resignation and appointment will not, in and of itself, result in a downgrading of the Certificates without taking the Certificate Guaranty Insurance Policy into account or (b) upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel (at the expense of the resigning Master Servicer) to such effect delivered to the Trustee and the Certificate Insurer. No such resignation shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer's responsibilities, duties, liabilities and obligations hereunder.
 
Section 6.05. Sale and Assignment of Master Servicing.
 

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The Master Servicer may sell and assign its rights and delegate its duties and obligations in their entirety as Master Servicer under this Agreement; provided, however, that: (i) the purchaser or transferee accepting such assignment and delegation (a) shall be a Person which shall be qualified to service mortgage loans for Fannie Mae or Freddie Mac; (b) shall, in the case of successor master servicers only, have a net worth of not less than $10,000,000 (unless otherwise approved by each Rating Agency pursuant to clause (ii) below); (c) shall be reasonably satisfactory to the Trustee and the Certificate Insurer (unless an Insurer Default has occurred and is continuing) (as evidenced in a writing signed by the Trustee and the Certificate Insurer) as having a comparable servicing ability to that of the Master Servicer on the Closing Date; (d) shall execute and deliver to the Trustee and the Certificate Insurer an agreement, in form and substance reasonably satisfactory to the Trustee and the Certificate Insurer, which contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be performed or observed by it as master servicer under this Agreement and any custodial agreement, from and after the effective date of such agreement; (ii) each Rating Agency shall be given prior written notice of the identity of the proposed successor to the Master Servicer and each Rating Agency's rating of the Certificates in effect immediately prior to such assignment, sale and delegation will not be downgraded or withdrawn as a result of such assignment, sale and delegation without taking the Certificate Guaranty Insurance Policy into account, as evidenced by a letter to such effect obtained by the Master Servicer at its expense and delivered to the Trustee; and (iii) the Master Servicer assigning and selling the master servicing shall deliver to the Trustee an Officer's Certificate and an Opinion of Counsel (at the expense of the Master Servicer), each stating that all conditions precedent to such action under this Agreement have been completed and such action is permitted by and complies with the terms of this Agreement. No such assignment or delegation shall affect any liability of the Master Servicer arising prior to the effective date thereof.
 

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ARTICLE VII
 
DEFAULT
 
Section 7.01. Events of Default.
 
“Event of Default”, wherever used herein, means any one of the following events:
 
(i) any failure by the Master Servicer to deposit into the Certificate Account on each Certificate Account Deposit Date the amounts required to be deposited therein (other than an Advance) under the terms of this Agreement which continues unremedied for two (2) Business Days after such amount was required to be remitted; or
 
(ii) any failure on the part of the Master Servicer duly to observe or perform in any material respect any other of the covenants or agreements on the part of the Master Servicer contained in the Certificates or in this Agreement (including any breach of the Master Servicer's representations and warranties pursuant to Section 2.03(a) which materially and adversely affects the interests of the Certificateholders) which continues unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Master Servicer by the Trustee or the Certificate Insurer, or to the Master Servicer, the Certificate Insurer and the Trustee by the Holders of Certificates entitled to at least 25% of the Voting Rights; or
 
(iii) a decree or order of a court or agency or supervisory authority having jurisdiction in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law or the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer and such decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or
 
(iv) the Master Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Master Servicer or of or relating to all or substantially all of its property; or
 
(v) the Master Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of or otherwise voluntarily commence a case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations; or
 
(vi) the Master Servicer shall fail to deposit in the Certificate Account on any Certificate Account Deposit Date an amount equal to any required Advance which continues unremedied for the earlier of (a) a period of two (2) Business Days or (b) the Business Day immediately preceding the Distribution Date.
 

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If an Event of Default described in clauses (i) - (v) of this Section shall occur, then, and in each and every such case, so long as such Event of Default shall not have been remedied, the Trustee, the Certificate Insurer (unless an Insurer Default has occurred and is continuing) or the Holders of Certificates entitled to at least 51% of the Voting Rights (with the consent of the Certificate Insurer), by notice in writing to the Master Servicer and the Swap Provider (and to the Trustee if given by such Holders of Certificates), with a copy to the Rating Agencies, may terminate all of the rights and obligations (but not the liabilities) of the Master Servicer under this Agreement and in and to the Trust Fund, other than its rights as a Certificateholder hereunder; provided, however, that the successor to the Master Servicer appointed pursuant to Section 7.02 shall have accepted the duties of Master Servicer effective upon the resignation or termination of the Master Servicer. If an Event of Default described in clause (vi) hereof shall occur, the Trustee, as applicable, shall, by notice to the Master Servicer, the Certificate Insurer and the Depositor, terminate all of the rights and obligations of the Master Servicer under this Agreement and in and to the Trust Fund, other than its rights as a Certificateholder hereunder; provided, however, that if the Trustee, as applicable, determines (in its sole discretion) that the failure by the Master Servicer to make any required Advance was due to circumstances beyond its control, and the required Advance would have otherwise been made, the Trustee, as applicable, shall not terminate the Master Servicer. On or after the receipt by the Master Servicer of such notice, all authority and power of the Master Servicer under this Agreement, whether with respect to the Certificates (other than as a Holder thereof) or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant to and under this Section, and, without limitation, the Trustee is hereby authorized and empowered to execute and deliver, on behalf of the Master Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents, or otherwise at the expense of the Master Servicer. The Master Servicer agrees to cooperate with (and pay any related costs and expenses of) the Trustee in effecting the termination of the Master Servicer's responsibilities and rights hereunder, including, without limitation, the transfer to the Trustee or the successor Master Servicer for administration by it of (i) the property and amounts which are then or should be part of the Trust Fund or which thereafter become part of the Trust Fund; (ii) originals or copies of all documents of the Master Servicer reasonably requested by the Trustee to enable it to assume the Master Servicer's duties thereunder; (iii) the rights and obligations of the Master Servicer under the Sub-Servicing Agreements with respect to the Mortgage Loans; and (iv) all cash amounts which shall at the time be deposited by the Master Servicer or should have been deposited to the Custodial or the Certificate Account or thereafter be received with respect to the Mortgage Loans. The Trustee shall not be deemed to have breached any obligation hereunder as a result of a failure to make or delay in making any distribution as and when required hereunder caused by the failure of the Master Servicer to remit any amounts received by it or to deliver any documents held by it with respect to the Mortgage Loans. For purposes of this Section 7.01, the Trustee shall not be deemed to have knowledge of an Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless notice of any event which is in fact such an Event of Default is received by the Trustee as provided in Section 11.05 and such notice references the Certificates, the Trust Fund or this Agreement.
 
 

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Section 7.02. Trustee to Act; Appointment of Successor.
 
Within 90 days of the time the Master Servicer receives a notice of termination pursuant to Section 7.01(i) - (vi), the Trustee or its appointed agent shall be the successor in all respects to the Master Servicer in its capacity as Master Servicer under this Agreement and the transactions set forth or provided for herein and shall be subject thereafter to all the responsibilities, duties and liabilities relating thereto placed on the Master Servicer including the obligation to make Advances which have been or will be required to be made (except for the responsibilities, duties and liabilities contained in Section 2.03 and its obligations to deposit amounts in respect of losses pursuant to Section 3.12 and 4.01(i)) by the terms and provisions hereof; and provided further, that any failure to perform such duties or responsibilities caused by the Master Servicer's failure to provide information required by Section 4.03 shall not be considered a default by the Trustee hereunder. As compensation therefor, the Trustee shall be entitled to all funds relating to the Mortgage Loans which the Master Servicer would have been entitled to charge to the Custodial Account if the Master Servicer had continued to act hereunder. If the Trustee has become the successor to the Master Servicer in accordance with Section 6.04 or Section 7.02, then notwithstanding the above, if the Trustee shall be unwilling to so act, or shall be unable to so act, the Trustee may appoint, or petition a court of competent jurisdiction or appoint, any established housing and home finance institution, which is also a Fannie Mae- or Freddie Mac-approved mortgage servicing institution, having a net worth of not less than $10,000,000 and acceptable to the Certificate Insurer as evidenced by its prior written consent as the successor to the Master Servicer hereunder in the assumption of all or any part of the responsibilities, duties or liabilities of the Master Servicer hereunder. Pending appointment of a successor to the Master Servicer hereunder, the Trustee shall act in such capacity as herein above provided. In connection with such appointment and assumption, the Trustee may make such arrangements for the compensation of such successor out of payments on Mortgage Loans as it and such successor shall agree; provided, however, that no such compensation shall be in excess of that permitted the Master Servicer hereunder. Each of the Sponsor, the Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. In no event shall the successor Master Servicer be liable for the acts or omissions of the predecessor Master Servicer.
 
In connection with the termination or resignation of the Master Servicer hereunder, either (i) the successor Master Servicer, including the Trustee if the Trustee is acting as successor Master Servicer, shall represent and warrant that it is a member of MERS in good standing and shall agree to comply in all material respects with the rules and procedures of MERS in connection with the servicing of the Mortgage Loans that are registered with MERS, in which case the predecessor Master Servicer shall cooperate with the successor Master Servicer in causing MERS to revise its records to reflect the transfer of servicing to the successor Master Servicer as necessary under MERS' rules and regulations, or (ii) the predecessor Master Servicer shall cooperate with the successor Master Servicer in causing MERS to execute and deliver an assignment of Mortgage in recordable form to transfer the Mortgage from MERS to the Trustee and to execute and deliver such other notices, documents and other instruments as may be necessary or desirable to effect a transfer of such Mortgage Loan or servicing of such Mortgage Loan on the MERS® System to the successor Master Servicer. The predecessor Master Servicer shall file or cause to be filed any such assignment in the appropriate recording office. The predecessor Master Servicer shall bear any and all fees of MERS, costs of preparing any assignments of Mortgage, and fees and costs of filing any assignments of Mortgage that may be required under this Section 7.02. The successor Master Servicer shall cause such assignment to be delivered to the Trustee promptly upon receipt of the original with evidence of recording thereon or a copy certified by the public recording office in which such assignment was recorded.
 

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Any successor, including the Trustee, to the Master Servicer shall maintain in force during its term as master servicer hereunder policies and fidelity bonds to the same extent as the Master Servicer is so required pursuant to Section 3.18.
 
Notwithstanding anything else herein to the contrary, in no event shall the Trustee be liable for any Master Servicing Fee or Sub-Servicing Fee or for any differential in the amount of the Master Servicing Fee or Sub-Servicing Fee paid hereunder and the amount necessary to induce any successor Master Servicer or Sub-Servicer, as applicable, to act as successor Master Servicer or Sub-Servicer, as applicable, under this Agreement and the transactions set forth or provided for herein.
 
Section 7.03. Notification to Certificateholders.
 
(a) Upon any such termination or appointment of a successor to the Master Servicer, the Trustee shall give prompt notice thereof to Certificateholders, the Certificate Insurer and to the Rating Agencies.
 
(b) Within 60 days after the occurrence of any Event of Default, the Trustee shall transmit by mail to all Holders of Certificates, the Certificate Insurer and the Swap Provider notice of each such Event of Default hereunder known to the Trustee, unless such Event of Default shall have been cured or waived.
 
Section 7.04. Waiver of Events of Default.
 
The Holders representing at least 51% of the Voting Rights of Certificates affected by a default or Event of Default hereunder (with the consent of the Certificate Insurer), may waive such default or Event of Default (other than an Event of Default set forth in Section 7.01(vi)); provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default with the consent of the Certificate Insurer) and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in the second paragraph of Section 11.01 or materially adversely affect any non-consenting Certificateholder. Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights of Certificates affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived. The Master Servicer shall give notice of any such waiver to the Rating Agencies.
 
 

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Section 7.05. List of Certificateholders.
 
Upon written request of the Certificate Insurer or three or more Certificateholders of record, for purposes of communicating with other Certificateholders with respect to their rights under this Agreement, the Trustee will afford such Certificateholders access during business hours to the most recent list of Certificateholders held by the Trustee.
 

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ARTICLE VIII
 
CONCERNING THE TRUSTEE
 
Section 8.01. Duties of Trustee.
 
The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. If an Event of Default occurs, is continuing and has not been waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. Any permissive right of the Trustee enumerated in this Agreement shall not be construed as a duty.
 
The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them in accordance with the requirements of this Agreement. If any such instrument is found not to conform to the requirements of this Agreement in a material manner, the Trustee shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not corrected to the Trustee’s satisfaction, the Trustee will provide notice thereof to the Certificateholders. Notwithstanding the foregoing, the Trustee shall not be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Master Servicer hereunder or any Opinion of Counsel required hereunder.
 
The Trustee shall prepare and file or cause to be filed on behalf of the Trust Fund any tax return that is required with respect to REMIC 1, REMIC 2 and REMIC 3 pursuant to applicable federal, state or local tax laws.
 
The Trustee covenants and agrees that it shall perform its obligations hereunder in a manner so as to maintain the status of REMIC 1, REMIC 2 and REMIC 3 under the REMIC Provisions and to prevent the imposition of any federal, state or local income, prohibited transaction, contribution or other tax on any of REMIC 1, REMIC 2 or REMIC 3 to the extent that maintaining such status and avoiding such taxes are within the control of the Trustee and are reasonably within the scope of its duties under this Agreement.
 
No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:
 
(i) Prior to the occurrence of an Event of Default, and after the curing or waiver of all such Events of Default which may have occurred, the duties and obligations of the Trustee shall be determined solely by the express provisions of this Agreement, the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read into this Agreement against the Trustee and, in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Agreement;
 

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(ii) The Trustee shall not be liable for an error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and
 
(iii) The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Certificate Insurer or the Holders of Certificates entitled to at least 25% of the Voting Rights relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Agreement.
 
Section 8.02. Certain Matters Affecting the Trustee.
 
Except as otherwise provided in Section 8.01:
 
(a) The Trustee may conclusively rely upon and shall be fully protected in acting or refraining from acting in reliance upon any resolution, Officers’ Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties;
 
(b) The Trustee may consult with counsel and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance therewith;
 
(c) The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Agreement, other than its obligation to give notice pursuant to this Agreement, or to institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement, unless such Certificateholders or the Certificate Insurer (so long as no Insurer Default has occurred and is continuing) shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby and the Certificate Insurer (so long as no Insurer Default has occurred and is continuing) has given its consent; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default of which a Responsible Officer of the Trustee’s corporate trust department has actual knowledge (which has not been waived or cured), to exercise such of the rights and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;
 
(d) The Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;
 

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(e) Prior to the occurrence of an Event of Default hereunder and after the curing or waiver of all Events of Default which may have occurred, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing to do so by the Certificate Insurer (so long as no Insurer Default has occurred and is continuing) or the Holders of Certificates entitled to at least 25% of the Voting Rights with the written consent of the Certificate Insurer (so long as no Insurer Default has occurred and is continuing); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, reasonably assured to the Trustee by the security afforded to it by the terms of this Agreement reasonable expense of every such examination shall be paid by the Certificateholders or the Certificate Insurer requesting the investigation;
 
(f) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, nominees, custodians or attorneys appointed with due care, and shall not be responsible for any willful misconduct or negligence on the part of any agent, attorney, custodian or nominee so appointed;
 
(g) The Trustee shall not be required to give any bond or surety with respect to the execution of the trust created hereby or the powers granted hereunder; and
 
(h) Whenever in the administration of the provisions of this Agreement the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action to be taken hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by a certificate signed and delivered to the Trustee and such certificate, in the absence of gross negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Agreement upon the faith thereof.
 
The Trustee shall have no obligation to invest and reinvest any cash held in the absence of timely and specific written investment direction from the Master Servicer. In no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon. The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment incurred as a result of the liquidation of any investment prior to its stated maturity or the failure of the Master Servicer to provide timely written investment direction.
 
In order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Lending Laws”), the Trustee is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Trustee. Accordingly, each of the parties agrees to provide to the Trustee upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee to comply with the Lending Laws.
 
 

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Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans.
 
The recitals contained herein and in the Certificates (other than the signature of the Trustee, the authentication of the Trustee on the Certificates, the acknowledgments of the Trustee contained in Article II) shall be taken as the statements of the Depositor and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations or warranties as to the validity or sufficiency of this Agreement or of the Certificates (other than the signature and authentication of the Trustee on the Certificates) or of any Mortgage Loan or related document, or of MERS or the MERS® System. The Trustee shall not be accountable for the use or application by the Depositor of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Depositor or the Master Servicer in respect of the Mortgage Loans or deposited in or withdrawn from the Custodial Account by the Master Servicer.
 
Section 8.04. Trustee May Own Certificates.
 
The Trustee in its individual or any other capacity (other than as Trustee hereunder) may become the owner or pledgee of Certificates with the same rights it would have if it were not Trustee and may otherwise deal with the parties hereto.
 
Section 8.05. Trustee’s Fees.
 
On each Distribution Date, the Trustee shall be entitled to withdraw from the Certificate Account as compensation hereunder any amounts earned on funds in the Certificate Account. Such compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) shall be paid for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder or of the Trustee. Except as otherwise provided in this Agreement, the Trustee and any director, officer, employee or agent of the Trustee shall be indemnified and held harmless by the Trust Fund against any claim, loss, liability, fee or expense incurred in connection with any Event of Default, any breach of this Agreement or any claim or legal action (including any pending or threatened claim or legal action), relating to the acceptance or administration of its trusts hereunder or the Trustee’s performance under the Certificates, other than any claim, loss, liability or expense (i) sustained in connection with this Agreement related to the willful misfeasance, bad faith or negligence of the Master Servicer in the performance of its duties hereunder or (ii) incurred in connection with a breach constituting willful misfeasance, bad faith or negligence of the Trustee in the performance of its duties hereunder or by reason of reckless disregard of its obligations and duties hereunder.
 
The Master Servicer shall indemnify the Trustee and any director, officer, employee or agent of the Trustee against any such claim or legal action (including any pending or threatened claim or legal action), loss, liability, fee or expense that may be sustained in connection with this Agreement related to the willful misfeasance, bad faith, or negligence in the performance of the Master Servicer's duties hereunder.
 
The provisions of this Section 8.05 shall survive the resignation or removal of the Trustee or the termination of this Agreement.
 
 

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Section 8.06. Eligibility Requirements for Trustee.
 
The Trustee hereunder shall at all times be a corporation or a national banking association organized and doing business under the laws of any state or the United States of America or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority. In addition, the Trustee shall at all times be acceptable to the Rating Agency rating the Certificates. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07. The corporation or national banking association serving as Trustee may have normal banking and trust relationships with the Sponsor and their affiliates or the Master Servicer and its affiliates; provided, however, that such corporation cannot be an affiliate of the Master Servicer other than the Trustee in its role as successor to the Master Servicer.
 
Section 8.07. Resignation and Removal of the Trustee.
 
The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Master Servicer; with a copy to the Rating Agencies, the Certificate Insurer and the Swap Provider; provided, that such resignation shall not be effective until successor trustee is appointed and accepts appointment in accordance with the following provisions; provided, however, that the resigning trustee shall not resign and be discharged from the trusts hereby created until such time as the Rating Agency rating the Certificates and the Certificate Insurer approves the successor trustee. Upon receiving such notice of resignation, the Master Servicer shall promptly appoint successor trustee who meets the eligibility requirements of Section 8.06 by written instrument, in triplicate, one copy of which instrument shall be delivered to the resigning trustee and to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning trustee may petition any court of competent jurisdiction for the appointment of a successor trustee.
 
If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Master Servicer, or if at any time the Trustee shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, the Master Servicer with the consent of the Certificate Insurer (so long as no Insurer Default has occurred and is continuing), which consent shall not be unreasonably withheld, may remove the Trustee and appoint successor trustee who meets the eligibility requirements of Section 8.06 by written instrument, in triplicate, which instrument shall be delivered to the Trustee so removed and to the successor trustee.
 

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Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor trustee as provided in Section 8.08.
 
Section 8.08. Successor Trustee.
 
Any successor trustee appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Master Servicer an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee herein. The predecessor trustee shall after payment of its outstanding fees and expenses, promptly deliver to the successor trustee all assets and records of the Trust Fund held by it hereunder, and the Master Servicer and the predecessor trustee shall execute and deliver all such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee all such rights, powers, duties and obligations.
 
No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 8.06.
 
Upon acceptance of appointment by successor trustee as provided in this Section, the Master Servicer shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Master Servicer fails to mail such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Master Servicer.
 
Any person appointed as successor trustee pursuant to Section 8.08 shall also be required to serve as successor supplemental interest trust trustee under the derivative documents.
 
Section 8.09. Merger or Consolidation of Trustee.
 
Any state bank or trust company or corporation or national banking association into which the Trustee may be merged or converted or with which it may be consolidated or any state bank or trust company or national banking association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any state bank or trust company or corporation or national banking association succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such state bank or trust company or corporation or national banking association shall be eligible under the provisions of Section 8.06 without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
 
Section 8.10. Appointment of Co-Trustee or Separate Trustee.
 
Notwithstanding any other provisions hereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at the time be located, the Master Servicer and the Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Trustee to act as co-trustee or co-trustees, jointly with the Trustee or separate trustee or separate trustees, of all or any part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof, and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the Master Servicer and the Trustee may consider necessary or desirable. If the Master Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment without the Master Servicer. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as successor trustee under Section 8.06 hereunder and no notice to Holders of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 8.08 hereof.
 

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In the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10, all rights, powers, duties and obligations conferred or imposed upon the Trustee and required to be conferred or such co-trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer hereunder), the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust Fund or any portion thereof in any such jurisdiction) shall be exercised and performed by such separate trustee or co-trustee at the direction of the Trustee.
 
Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article VIII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Trustee. Every such instrument shall be filed with the Trustee.
 
Any separate trustee or co-trustee may, at any time, constitute the Trustee its agent or attorney-in-fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Trustee to the extent permitted by law, without the appointment of a new or successor trustee.
 

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ARTICLE IX
 
TERMINATION
 
Section 9.01. Termination Upon Repurchase or Liquidation of All Mortgage Loans or upon Purchase of Certificates.
 
(a) Subject to Section 9.03, the respective obligations and responsibilities of the Depositor, the Master Servicer and the Trustee created hereby (other than the obligations of the Master Servicer to the Trustee pursuant to Section 8.05 and of the Master Servicer to provide for and the Trustee to make payments to Certificateholders as hereafter set forth) shall terminate upon payment to the Certificateholders of all amounts held by or on behalf of the Trustee and required to be paid to them hereunder following the earlier to occur of (i) the repurchase by the Master Servicer or its designee of all Mortgage Loans and each REO Property in respect thereof remaining in the Trust Fund at a price in cash equal to (a) 100% of the unpaid principal balance of each Mortgage Loan (other than one as to which a REO Property was acquired) on the day of repurchase together with accrued interest on such unpaid principal balance at the Net Mortgage Rate to the first day of the month in which the proceeds of such repurchase are to be distributed, plus (b) the appraised value of any REO Property (but not more than the unpaid principal balance of the related Mortgage Loan, together with accrued interest on that balance at the Net Mortgage Rate to the first day of the month such repurchase price is distributed), less the good faith estimate of the Master Servicer of liquidation expenses to be incurred in connection with its disposal thereof, such appraisal to be conducted by an appraiser selected by the Master Servicer at the expense of the Master Servicer, plus (c) any Swap Termination Payment (which shall include any Net Swap Payment payable for the final Distribution Date) payable to the Swap Provider pursuant to the Interest Rate Swap Agreement which remains unpaid or which is due to the exercise of such option (a “Swap Optional Termination Payment”) and plus (d) any unreimbursed amounts owed to the Certificate Insurer under the Certificate Guaranty Insurance Policy, the Insurance Agreement and this Agreement, and (ii) the final payment or other liquidation (or any Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund (or the disposition of all REO Property in respect thereof); provided, however, that in no event shall the trust created hereby continue beyond the earlier of (i) the Distribution Date occurring in September 2037 (ii) the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James, living on the date hereof and (iii) the “latest possible maturity date” specified in the Preliminary Statement with respect to the related Regular Interests and Certificates, and provided further, that the purchase price set forth above shall be increased as is necessary, as determined by the Master Servicer, to avoid disqualification of any of REMIC 1, REMIC 2 or REMIC 3 as a REMIC. In the case of any repurchase by the Master Servicer pursuant to clause (i), the Master Servicer shall exercise reasonable efforts to cooperate fully with the Trustee in effecting such repurchase and the transfer of the Mortgage Loans and related Mortgage Files and related records to the Master Servicer.
 
The right of the Master Servicer or its designee to repurchase all Mortgage Loans pursuant to (i) above shall be conditioned upon the Aggregate Stated Principal Balance of such Mortgage Loans at the time of any such repurchase aggregating to an amount equal to or less than 10% of the Cut-off Date Balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy or any amounts owed to the Certificate Insurer would remain unpaid, unless the Certificate Insurer consents in writing to such purchase. If such right is exercised, the Master Servicer upon such repurchase shall provide to the Trustee, and the Certificate Insurer notice of such exercise prior to the Determination Date in the month preceding the month of purchase and the certification required by Section 3.16.
 

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In the case of a repurchase of Mortgage Loans and REO Property pursuant to clause (a)(i) above, only an amount equal to the repurchase price specified in such clause (a)(i) above for such Mortgage Loans and REO Property, less any Swap Optional Termination Payment and any portion of the repurchase price consisting of the unreimbursed amounts owed to the Certificate Insurer, shall be made available for distribution to the Regular Certificates and Class IO Interests. The Swap Optional Termination Payment shall be withdrawn by the Trustee from the Certificate Account and remitted to the Supplemental Interest Trust to be paid in accordance with Section 4.09(ii). The Swap Optional Termination Payment shall not be part of any REMIC and shall not be paid into any account which is part of any REMIC.
 
(b) The Master Servicer has the right to repurchase all of the Mortgage Loans and related REO Properties pursuant to clause (i) of Section 9.01(a), conditioned upon the Aggregate Stated Principal Balance of such Mortgage Loans at the time of any such repurchase aggregating to an amount equal to or less than 10% of the Cut-off Date Balance. If the Master Servicer elects to terminate the Trust pursuant to this Section 9.01 (such termination, an “Optional Termination”), the Master Servicer shall, at least 20 days prior to the last date on which notice of such Optional Termination is required to be mailed to the Certificateholders pursuant to 9.01(f), notify in writing (which may be done in electronic format) the Depositor, the Master Servicer, the Trustee and the Swap Provider of the final Distribution Date on which the Master Servicer intends to terminate the Trust Fund.
 
(c) In connection with any Optional Termination, four Business Days prior to the final Distribution Date specified in the notice required pursuant to Section 9.01(f), the Master Servicer shall, no later than 4:00 pm New York City time on such day, request in writing (in accordance with the applicable provision of the Interest Rate Swap Agreement) and by phone from the Swap Provider the amount of the Estimated Swap Termination Payment. The Swap Provider shall, no later than 2:00 pm on the following Business Day, notify in writing (which may be done in electronic format) the Trustee of the amount of the Estimated Swap Termination Payment; the Trustee shall promptly on the same day notify the Master Servicer of the amount of the Estimated Swap Termination Payment.
 
(d) Two Business Days prior to the final Distribution Date specified in the notice required pursuant to Section 9.01(f), (i) the Master Servicer shall, no later than 1:00 pm New York City time on such day, deposit funds in the Certificate Account in an amount equal to the sum of the purchase price (other than the Swap Optional Termination Payment) and the Estimated Swap Termination Payment, and (ii) if Trustee is notified in writing that the aggregate Stated Principal Balance of all of the Mortgage Loans in the Trust Fund as of the related Determination Date is not more than 10% of the aggregate Cut-off Date Balance of all of the Mortgage Loans, and the requirements of the Optional Termination set forth in this Section 9.01 and Section 9.03 have been met, including the deposit required pursuant to the immediately preceding clause (i) then the Trustee shall, on the same Business Day, provide written notice to the Depositor, the Certificate Insurer, the Master Servicer, the Trustee on behalf of the Supplemental Interest Trust and the Swap Provider confirming (in accordance with the applicable provisions of the Interest Rate Swap Agreement) its receipt of the purchase price (other than the Swap Optional Termination Payment) and the Estimated Swap Termination Payment. Upon the Trustee’s providing the notice described in the preceding sentence, the Optional Termination shall become irrevocable, the notice to the related Certificateholders of such Optional Termination provided pursuant to the second paragraph of Section 9.01(f) shall become unrescindable, the Swap Provider shall determine the Swap Optional Termination Payment in accordance with the Interest Rate Swap Agreement, and the Swap Provider shall provide to the Trustee written notice of the amount of the Swap Optional Termination Payment not later than one Business Day prior to the final Distribution Date specified in the notice required pursuant to Section 9.01(f) and in the event the Trustee fails to provide the notice described in the preceding sentence, any notice provided under Section 9.01(f) shall be deemed rescinded.
 

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(e) In connection with any Optional Termination, only an amount equal to the purchase price less any Swap Optional Termination Payment and less any amounts payable to the Certificate Insurer shall be made available for distribution to the related Regular Certificates; provided that the amount to be distributed to the Class AM Certificates and to the Certificate Insurer must not result in a draw on the Certificate Guaranty Insurance Policy or leave any amount owed to the Certificate Insurer unpaid. Any Estimated Swap Termination Payment deposited into the Distribution Account by the Master Servicer shall be withdrawn by the Trustee from the Distribution Account on the related final Distribution Date (prior to the distribution of any amounts pursuant to Section 9.01(f)) and distributed as follows: (i) to the Supplemental Interest Trust for payment to the Swap Provider in accordance with Section 4.09(ii), as applicable, an amount equal to the Swap Optional Termination Amount calculated pursuant to the Interest Rate Swap Agreement, provided that in no event shall the amount distributed to the Swap Provider in respect of the Swap Optional Termination Amount exceed the Estimated Swap Termination Payment, and (ii) to the Master Servicer an amount equal to the excess, if any, of the Estimated Swap Termination Payment over the Swap Optional Termination Payment. The Swap Optional Termination Payment shall not be part of any REMIC and shall not be paid into any account which is part of any REMIC.
 
(f) Written notice of any termination, specifying the Distribution Date upon which the Certificateholders may surrender their Certificates to the Trustee for payment of the final distribution and cancellation, shall be given promptly by the Trustee by letter to the Certificateholders and the Swap Provider and the Certificate Insurer mailed (a) in the event such notice is given in connection with the Master Servicer's election to repurchase, not earlier than the 15th day and not later than the 25th day of the month next preceding the month of such final distribution or (b) otherwise during the month of such final distribution on or before the 15th day of the month (or if such 15th day is not a Business Day, on the Business Day immediately preceding such 15th day) in such month, in each case specifying (i) the Distribution Date upon which final payment of such Certificates will be made upon presentation and surrender of Certificates at the office of the Trustee therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of such Certificates at the office of the Trustee therein specified. In the event such notice is given in connection with the Master Servicer or its designee's election to repurchase, the Master Servicer or its designee shall deliver to the Trustee for deposit in the Certificate Account on the day which is two Business Days immediately preceding the Distribution Date specified in such notice an amount equal to the above-described repurchase price payable out of its own funds. Upon presentation and surrender of the Certificates by the Certificateholders, the Trustee shall first, pay itself its fee for such Distribution Date (as described in Section 8.05 ) and any other amounts owing to the Trustee under this Agreement, and second, distribute to such Certificateholders and the Certificate Insurer (i) the amount otherwise distributable on such Distribution Date, if not in connection with the Master Servicer's election to repurchase, or (ii) if the Master Servicer elected to so repurchase, an amount determined as follows: with respect to each Regular Certificate, the outstanding Certificate Principal Balance thereof, plus with respect to each Regular Certificate (other than the Class P Certificates) and the Class IO Interest, one month's interest thereon at the applicable Pass-Through Rate, or otherwise distributable thereto, and any Unpaid Interest Shortfall Amount, plus with respect to each Subordinate Certificate, any unpaid Allocated Realized Loss Amount; with respect to the Class R Certificates, the Percentage Interest evidenced thereby multiplied by the difference, if any, between the above described repurchase price (as adjusted in accordance with the preceding paragraph) and the aggregate amount to be distributed to the Holders of the Regular Certificates and the Class IO Interest, subject to the priorities set forth in Section 4.01; and with respect to the Certificate Insurer, any amounts owed under the Certificate Guaranty Insurance Policy, the Insurance Agreement and this Agreement. Upon certification to the Trustee by a Servicing Officer, following such final deposit, the Trustee shall promptly release the Mortgage Files as directed by the Master Servicer for the remaining Mortgage Loans, and the Trustee shall execute all assignments, endorsements and other instruments required by the Master Servicer as being necessary to effectuate such transfer.
 

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In the event that all of the Certificateholders shall not surrender their Certificates for cancellation within six months after the time specified in the above-mentioned notice, the Trustee shall give a second notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within six months after the second notice all of the Certificates shall not have been surrendered for cancellation, the Trustee shall take reasonable steps as directed by the Depositor in writing, or appoint an agent to take reasonable steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the funds and other assets which remain subject hereto. If within nine months after the second notice all the Certificates shall not have been surrendered for cancellation, the Class R Certificateholders shall be entitled to all unclaimed funds and other assets which remain subject hereto.
 
Section 9.02. Termination of REMIC 3 and Retirement of Class R Certificates.
 
REMIC 3 shall be terminated on the earlier of (i) the date on which the last distribution due on each of the REMIC 3 Regular Interests and Class R Certificates (in respect of the Class R-3 Interest) is made and (ii) the date on which it is terminated pursuant to an optional repurchase of all of the Mortgage Loans in accordance with Section 9.03. Notwithstanding anything to the contrary herein, the Class R Certificates will not be retired until the retirement of all the other Certificates.
 
 

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Section 9.03. Additional Termination Requirements.
 
(a) In the event the Master Servicer repurchases the Mortgage Loans or REO Property as provided in Section 9.01, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Master Servicer, at its own expense, obtains for the Trustee an Opinion of Counsel (which shall be provided to the Trustee at least two Business Days prior to the related Distribution Date) to the effect that the failure of the Trust Fund to comply with the requirements of this Section 9.03 will not (i) result in the imposition on the Trust of taxes on “prohibited transactions,” as described in Section 860F of the Code, or (ii) cause either REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC at any time that any Certificate is outstanding:
 
(i) The Master Servicer shall establish a 90-day liquidation period and notify the Trustee in writing thereof, and the Trustee shall in turn specify the first day of such period in a statement attached to the Tax Return for each of REMIC 1, REMIC 2 and REMIC 3 pursuant to Treasury Regulation Section 1.860F-1. The Master Servicer and the Trustee also shall satisfy all of the requirements of a qualified liquidation for REMIC 1, REMIC 2 and REMIC 3 under Section 860F of the Code and regulations thereunder, as evidenced by an Opinion of Counsel obtained at the expense of the Master Servicer, as applicable;
 
(ii) During such 90-day liquidation period, and at or prior to the time of making the final payment on the Certificates, the Trustee shall sell all of the assets of REMIC 1 for cash; and
 
(iii) At the time of the making of the final payment on the Certificates, the Trustee shall distribute or credit, or cause to be distributed or credited, to the Holders of the Class R Certificates, all cash on hand (other than cash retained to meet claims), and REMIC 1 shall terminate at that time.
 
(b) By their acceptance of the Certificates, the Holders thereof hereby authorize the adoption of a 90-day liquidation period and the adoption of a plan of complete liquidation for the REMICs, which authorization shall be binding upon all successor Certificateholders.
 
(c) The Trustee as agent for each REMIC hereby agrees to adopt and sign the related plan of complete liquidation meeting the requirements for a qualified liquidation under Section 860F of the Code and any regulations thereunder upon the written request of the Master Servicer and the receipt of the Opinion of Counsel referred to in clause (a)(i) above and to take such other action in connection therewith as may be reasonably requested by the Master Servicer.
 


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ARTICLE X
 
REMIC PROVISIONS
 
Section 10.01. REMIC Administration.
 
(a) The Trustee shall make an election to treat the Trust Fund as three REMICs under the Code and, if necessary, under applicable state law. Each such election will be made on Form 1066 or other appropriate federal tax or information return (including Form 8811) or any appropriate state return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of the REMIC elections in respect of the Trust Fund, (i) the Class R-1 Interest will constitute the sole class of Residual Interests in REMIC 1, the REMIC 1 Regular Interests shall be designated as the Regular Interests in REMIC 1 (ii) the Class R-2 Interest will constitute the sole class of Residual Interests in REMIC 2, the REMIC 2 Regular Interests shall be designated as the Regular Interests in REMIC 2, and (iii) the Class R-3 Interest will constitute the sole class of Residual Interests in REMIC 3, and the REMIC 3 Regular Interests shall be designated as the Regular Interests in REMIC 3. The Master Servicer and the Trustee shall not permit the creation of any “interests” (within the meaning of Section 860G of the Code) in REMIC 1, REMIC 2 or REMIC 3 other than the REMIC 1 Regular Interests, REMIC 2 Regular Interests, REMIC 3 Regular Interests, the Class R-1 Interest, the Class R-2 Interest and the Class R-3 Interest. The Trustee will apply for an Employee Identification Number from the Internal Revenue Service via Form SS-4 or any other acceptable method for each of REMIC 1, REMIC 2 and REMIC 3.
 
(b) The Closing Date is hereby designated as the “startup day” of the Trust Fund within the meaning of Section 860G(a)(9) of the Code.
 
(c) The Trustee shall pay out of its own funds, without any right of reimbursement, any and all expenses relating to any tax audit of the REMICs (including, but not limited to, any professional fees or any administrative or judicial proceedings with respect to the REMICs that involve the Internal Revenue Service or state tax authorities), other than the expense of obtaining any tax-related Opinion of Counsel except as specified herein. The Trustee, as agent for the REMICs' Tax Matters Person, shall (i) act on behalf of the REMICs in relation to any tax matter or controversy involving the Trust Fund and (ii) represent the Trust Fund in any administrative or judicial proceeding relating to an examination or audit by any governmental taxing authority with respect thereto.
 
(d) The Trustee shall prepare, sign and file all of the Tax Returns (including Form 8811, which must be filed within 30 days of the Closing Date) in respect of the REMICs created hereunder. The expenses of preparing and filing such returns shall be borne by the Trustee without any right of reimbursement therefor. The Master Servicer shall provide on a timely basis to the Trustee or its designee such information with respect to the assets of the REMICs as is in its possession and reasonably required by the Trustee to enable it to perform its obligations under this Article X.
 

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(e) The Trustee shall perform on behalf of the REMICs all reporting and other tax compliance duties that are the responsibility of the REMICs under the Code, the REMIC Provisions or other compliance guidance issued by the Internal Revenue Service or any state or local taxing authority. Among its other duties, as required by the Code, the REMIC Provisions or other such compliance guidance, the Trustee shall provide (i) to any Transferor of a Class R Certificate such information as is necessary for the application of any tax relating to the transfer of a Class R Certificate to any Person who is not a Permitted Transferee, (ii) to the Certificateholders such information or reports as are required by the Code or the REMIC Provisions including reports relating to interest, original issue discount and market discount or premium (using the Prepayment Assumption as required) and (iii) to the Internal Revenue Service the name, title, address and telephone number of the Person who will serve as the representative of the REMICs. The Master Servicer shall provide on a timely basis to the Trustee such information with respect to the assets of the REMICs, including, without limitation, the Mortgage Loans, as is in its possession and reasonably required by the Trustee to enable it to perform its obligations under this subsection. In addition, the Depositor shall provide or cause to be provided to the Trustee, within ten (10) days after the Closing Date, all information or data that the Trustee reasonably determines to be relevant for tax purposes as to the valuations and issue prices of the Certificates, including, without limitation, the price, yield, Prepayment Assumption and projected cash flow of the Certificates.
 
(f) The Trustee shall take such action and shall cause the REMICs created hereunder to take such action as shall be necessary to create or maintain the status thereof as REMICs under the REMIC Provisions (and the Master Servicer shall assist it, to the extent reasonably requested by it). The Trustee shall not take any action or cause the Trust Fund to take any action, or fail to take (or fail to cause to be taken), any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC 1, REMIC 2 or REMIC 3 as REMICs or (ii) result in the imposition of a tax upon the REMICs (including but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code) (either such event, an “Adverse REMIC Event”) unless the Trustee has received an Opinion of Counsel, addressed to the Trustee (at the expense of the party seeking to take or not take such action, but in no event at the expense of the Trustee) to the effect that the contemplated action or omission will not, with respect to the REMICs created hereunder, endanger such status or result in the imposition of such a tax; nor shall the Master Servicer take, or fail to take, any action (whether or not authorized hereunder) as to which the Trustee has advised it in writing that it has received an Opinion of Counsel to the effect that an Adverse REMIC Event could occur with respect to the taking, or omission of, such action. In addition, prior to taking, or failing to take, any action with respect to the REMICs or the assets of the REMICs, or causing, or failing to cause, the REMICs to take any action, which is not contemplated under the terms of this Agreement, the Master Servicer will consult with the Trustee or its designee, in writing, with respect to whether the taking, or omission of, such action could cause an Adverse REMIC Event to occur with respect to any REMIC, and the Master Servicer shall not take, or fail to take, any such action, or cause, or fail to cause, any REMIC to take, any such action as to which the Trustee has advised it in writing that an Adverse REMIC Event could occur. The Trustee may consult with counsel to provide such written advice, and the cost of same shall be borne by the party seeking to take or not take the action other than as permitted by this Agreement, but in no event shall such cost be an expense of the Trustee. At all times as may be required by the Code, the Trustee will ensure that substantially all of the assets of the REMICs created hereunder will consist of “qualified mortgages” as defined in Section 860G(a)(3) of the Code and “permitted investments” as defined in Section 860G(a)(5) of the Code.
 

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(g) In the event that any tax is imposed on “prohibited transactions” of any REMIC created hereunder as defined in Section 860F(a)(2) of the Code, on the “net income from foreclosure property” of any REMIC as defined in Section 860G(c) of the Code, on any contributions to any REMIC after the Startup Day therefor pursuant to Section 860G(d) of the Code, or any other tax is imposed by the Code or any applicable provisions of state or local tax laws, such tax shall be charged (i) to the Trustee pursuant to Section 10.03 hereof, if such tax arises out of or results from a breach by the Trustee of any of its obligations under this Article X, (ii) to the Master Servicer pursuant to Section 10.03 hereof, if such tax arises out of or results from a breach by the Master Servicer of any of its obligations under Article III or this Article X or otherwise, (iii) to the Master Servicer as provided in Section 3.05 and (iv) against amounts on deposit in the Certificate Account and shall be paid by withdrawal therefrom to the extent not required to be paid by the Master Servicer or the Trustee pursuant to another provision of this Agreement.
 
(h) On or before April 15 of each calendar year, commencing April 15, 2008, the Trustee shall deliver to the Master Servicer and the Rating Agency a Certificate from a Responsible Officer of the Trustee stating the Trustee’s compliance with this Article X.
 
(i) The Trustee shall, for federal income tax purposes, maintain books and records with respect to the REMICs on a calendar year and on an accrual basis.
 
(j) Following the Startup Day, the Trustee shall not accept any contributions of assets to the REMICs other than in connection with any Qualified Substitute Mortgage Loan delivered in accordance with Section 2.04 unless it shall have received an Opinion of Counsel to the effect that the inclusion of such assets in the REMICs will not cause REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as REMICs at any time that any Certificates are outstanding or subject any of REMIC 1, REMIC 2 or REMIC 3 to any tax under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.
 
(k) Neither the Trustee nor the Master Servicer shall enter into any arrangement under which the REMICs will receive a fee or other compensation for services nor permit the REMICs to receive any income from assets other than “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted investments” as defined in Section 860G(a)(5) of the Code.
 
Section 10.02. Prohibited Transactions and Activities.
 
None of the Depositor, the Master Servicer or the Trustee shall (except as otherwise expressly permitted under the terms of this Agreement) (1) sell, dispose of, or substitute any property for any of, the Mortgage Loans (except in connection with (i) the foreclosure of a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the bankruptcy of the Trust Fund, (iii) the termination of REMIC 1, REMIC 2 or REMIC 3 pursuant to Article IX of this Agreement, (iv) a substitution pursuant to Article II of this Agreement or (v) a purchase of defective or defaulted Mortgage Loans pursuant to Article II or III of this Agreement), (2) acquire any assets for the Trust Fund (other than REO Property acquired in respect of a defaulted Mortgage Loan), (3) sell or dispose of any investments in the Custodial Account or the Certificate Account for gain, (4) accept any contributions to the REMICs after the Closing Date (other than a Qualified Substitute Mortgage Loan delivered in accordance with Section 2.04), in each case, unless it has received an Opinion of Counsel, addressed to the Trustee (at the expense of the party seeking to cause such sale, disposition, substitution, acquisition or contribution, but in no event at the expense of the Trustee) that such sale, disposition, substitution, acquisition or contribution will not (a) affect adversely the status of REMIC 1, REMIC 2 or REMIC 3 as REMICs or (b) cause the Trust Fund to be subject to a tax on “prohibited transactions” or “contributions” pursuant to the REMIC Provisions.
 
 

154


Section 10.03. Master Servicer and Trustee Indemnification.
 
(a) The Trustee agrees to indemnify the Trust Fund, the Depositor, and the Master Servicer for any taxes and costs including, without limitation, any reasonable attorneys' fees imposed on or incurred by the Trust Fund, the Depositor or the Master Servicer, as a result of a breach of the Trustee’s covenants set forth in this Article X.
 
(b) The Master Servicer agrees to indemnify the Trust Fund, the Depositor and the Trustee for any taxes and costs including, without limitation, any reasonable attorneys' fees imposed on or incurred by the Trust Fund, the Certificate Insurer, the Depositor or the Trustee, as a result of a breach of the Master Servicer's covenants set forth in Article III or this Article X, in each case with respect to compliance with the REMIC Provisions.
 

155



ARTICLE XI
 
MISCELLANEOUS PROVISIONS
 
Section 11.01. Amendment.
 
This Agreement may be amended from time to time by the Depositor, the Master Servicer and the Trustee, with the consent of the Certificate Insurer (so long as no Insurer Default has occurred and is continuing) and without the consent of any of the Certificateholders or the Swap Provider, (i) to cure any ambiguity, (ii) to correct or supplement any provisions herein which may be defective or inconsistent with any other provisions herein or to correct any error, (iii) to amend this Agreement in any respect subject to the provisions in clauses (A) and (B) below, or (iv) if such amendment, as evidenced by an Opinion of Counsel (provided by the Person requesting such amendment) delivered to the Trustee, is reasonably necessary to comply with any requirements imposed by the Code or any successor or amendatory statute or any temporary or final regulation, revenue ruling, revenue procedure or other written official announcement or interpretation relating to federal income tax laws or any proposed such action which, if made effective, would apply retroactively to the Trust Fund at least from the effective date of such amendment; provided that such action (except any amendment described in (iv) above) shall not adversely affect in any material respect the interests of any Certificateholder (other than Certificateholders who shall consent to such amendment), the Certificate Insurer (if an Insurer Default has occurred and is continuing) and the Swap Provider, as evidenced by (A) an Opinion of Counsel (provided by the Person requesting such amendment) delivered to the Trustee, the Swap Provider and the Certificate Insurer and (B) a letter from each Rating Agency, confirming that such amendment shall not cause it to lower its rating on any of the Certificates without taking the Certificate Guaranty Insurance Policy into account.
 
This Agreement may also be amended from time to time by the Depositor, the Master Servicer and the Trustee with the consent of the Certificate Insurer and Holders of Certificates entitled to at least 66-2/3% of the Voting Rights for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Holders of Certificates; provided, however, that no such amendment shall (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate without the consent of the Holder of such Certificate, (ii) adversely affect in any material respect the interests of the Holders of any Class of Certificates in a manner other than as described in (i), without the consent of the Holders of Certificates of such Class evidencing at least 66-2/3% of the Voting Rights of such Class, or (iii) reduce the aforesaid percentage of Certificates the Holders of which are required to consent to any such amendment, without the consent of the Holders of all Certificates then outstanding. Notwithstanding any other provision of this Agreement, for purposes of the giving or withholding of consents pursuant to this Section 11.01, Certificates registered in the name of the Sponsor or the Master Servicer or any affiliate thereof shall be entitled to Voting Rights with respect to matters described in (i), (ii) and (iii) of this paragraph.
 
Notwithstanding any contrary provision of this Agreement, the Trustee shall not consent to any amendment to this Agreement unless it shall have first received an Opinion of Counsel (provided by the Person requesting such amendment) to the effect that such amendment will not result in the imposition of any tax on any of REMIC 1, REMIC 2 or REMIC 3 pursuant to the REMIC Provisions or cause any of REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC at any time that any Certificates are outstanding.
 

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Notwithstanding any of the other provisions of this Section 11.01, none of the Depositor, the Master Servicer or the Trustee shall (i) enter into any amendment to Section 4.09, Section 4.01(e)(vi) or Section 9.01 of this Agreement without the prior written consent of the Swap Provider nor (ii) enter into an amendment of this Agreement, as evidenced by an Officer’s Certificate of the Depositor, that could reasonably be expected to have a material adverse effect on the interests of the Swap Provider without the Swap Provider’s consent (such consent shall not be unreasonably withheld, conditioned or delayed).
 
Promptly after the execution of any such amendment the Trustee shall furnish a copy of such amendment or a written statement describing the amendment to each Certificateholder, with a copy to the Rating Agencies, the Certificate Insurer and the Swap Provider.
 
It shall not be necessary for the consent of Certificateholders under this Section 11.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable regulations as the Trustee may prescribe.
 
Prior to executing any amendment pursuant to this Section, the Trustee shall be entitled to receive an Opinion of Counsel (provided by the Person requesting such amendment) to the effect that such amendment is authorized or permitted by this Agreement. The cost of any Opinion of Counsel delivered pursuant to this Section 11.01 shall be an expense of the party requesting such amendment, but in any case shall not be an expense of the Trustee.
 
The Trustee may, but shall not be obligated to, enter into any amendment pursuant to this Section that affects its rights, duties and immunities under this Agreement or otherwise.
 
Section 11.02. Recordation of Agreement; Counterparts.
 
To the extent permitted by applicable law, this Agreement is subject to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by the Master Servicer at the expense of the Certificateholders, but only upon direction of the Depositor accompanied by an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests of the Certificateholders.
 
For the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such counterparts shall constitute but one and the same instrument.
 
 

157


Section 11.03. Limitation on Rights of Certificateholders.
 
The death or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Certificateholder's legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.
 
No Certificateholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association; nor shall any Certificateholder be under any liability to any third party by reason of any action taken by the parties to this Agreement pursuant to any provision hereof.
 
No Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Holder previously shall have given to the Trustee a notice of an Event of Default, or of a default by the Sponsor or the Trustee in the performance of any obligation hereunder, and of the continuance thereof, as hereinbefore provided, and unless also the Holders of Certificates entitled to at least 51% of the Voting Rights shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding. It is understood and intended, and expressly covenanted by each Certificateholder with every other Certificateholder, the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatever by virtue of any provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Certificateholders. For the protection and enforcement of the provisions of this Section, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.
 
Section 11.04. Governing Law.
 
This Agreement and the Certificates shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.
 
Section 11.05. Notices.
 
All demands, notices and direction hereunder shall be in writing and shall be deemed effective upon receipt when delivered to (a) in the case of the Depositor, 19500 Jamboree Road, Irvine, California 92612, Attention: General Counsel, or such other address as may hereafter be furnished to the other parties hereto in writing; (b) in the case of Impac Funding, 19500 Jamboree Road, Irvine, California 92612, Attention: General Counsel, or such other address as may hereafter be furnished to the other parties hereto in writing; (c) in the case of the Trustee, to its Corporate Trust Offices, or such other address as may hereafter be furnished to the other parties hereto in writing; (d) in the case of the Rating Agencies, Standard & Poor’s, 55 Water Street, 41st Floor, New York, New York 10041, Attention: Asset Backed Surveillance Department; and Moody’s, Moody’s Investors Service, Inc., Residential Mortgage Monitoring Department, 99 Church Street, New York, New York 10007; (e) in the case of the Certificate Insurer, Ambac Assurance Corporation, One State Street Plaza, New York, New York 10004, Attention: Consumer Asset-Backed Securities Group or such other address as may be hereafter furnished to the Depositor, the Trustee and the Master Servicer in writing by the Certificate Insurer; and (f) in the case of Lehman Brothers Special Financing Inc., 745 Seventh Ave., 19th Floor, New York, New York 10019. Any notice required or permitted to be mailed to a Certificateholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Certificate Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice.
 
 

158


Section 11.06. Severability of Provisions.
 
If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof.
 
Section 11.07. Successors and Assigns.
 
The provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Trustee, the Certificate Insurer and the Certificateholders.
 
Section 11.08. Article and Section Headings.
 
The article and Section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.
 
Section 11.09. Notice to Rating Agencies.
 
The Trustee shall use its best efforts to promptly provide notice to each Rating Agency and the Certificate Insurer referred to below with respect to each of the following of which it has actual knowledge:
 
1. Any material change or amendment to this Agreement;
 
2. The occurrence of any Event of Default that has not been cured;
 
3. The resignation or termination of the Master Servicer or the Trustee;
 

159


4. The repurchase or substitution of Mortgage Loans pursuant to Section 2.04;
 
5. The final payment to Certificateholders; and
 
6. Any change in the location of the Custodial Account or the Certificate Account.
 
In addition, the Trustee shall promptly furnish to each Rating Agency copies of each report to Certificateholders described in Section 4.02; and the Master Servicer shall promptly furnish to each Rating Agency copies of each annual independent public accountants’ servicing report received as described in Section 3.20.
 
Any such notice pursuant to this Section 11.09 shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by first class mail, postage prepaid, or by express delivery service to (i) in the case of Standard & Poor's, 55 Water Street, 41st Floor, New York, New York 10041, Attention: Asset Backed Surveillance Department and (ii) in the case of Moody's, Residential Mortgage Monitoring Department, 99 Church Street, New York, New York 10007, or, in each case, such other address as either such Rating Agency may designate in writing to the parties thereto.
 
Section 11.10. Rights of the Certificate Insurer.
 
(a) The Certificate Insurer is an express third-party beneficiary of this Agreement.
 
(b) On each Distribution Date the Trustee shall make available to the Certificate Insurer a copy of the reports made available to the Certificateholders and the Depositor on such Distribution Date.
 
(c) The Trustee shall provide to the Certificate Insurer copies of any report, notice, Opinion of Counsel, Officers’ Certificate, request for consent or request for amendment to any document related hereto promptly upon the Trustee’s production or receipt thereof.
 
(d) Unless an Insurer Default exists, the Trustee, the Depositor and the Master Servicer shall not agree to any amendment to this Agreement without first having obtained the prior written consent of the Certificate Insurer, which consent shall not be unreasonably withheld.
 
(e) So long as there does not exist a failure by the Certificate Insurer to make a required payment under the Certificate Guaranty Insurance Policy, the Certificate Insurer will have the right to exercise all rights of the Holders of the Class AM Certificates under this Agreement (including voting rights) without the consent of the Holders.
 
Section 11.11. Control by the Certificate Insurer. 
 
With respect to the Class AM Certificates only, the Certificate Insurer, or, if an Insurer Default exists, the Holders of a majority of the Class AM Certificates shall have the right (subject to the provisions of Section 11.03) to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee with respect to the Class AM Certificates or exercising any trust or power conferred on the Trustee; provided that:
 

160


(i) such direction shall not be in conflict with any rule of law or with this Agreement:
 
(ii) if an Insurer Default exists, any direction to the Trustee to sell or liquidate the Trust Fund shall be by Holders of Certificates representing not less than 100% of the Certificate Principal Balance of the Certificates;
 
(iii) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction of the Holders of Certificates representing a majority of the Certificate Principal Balance of the Certificates.
 
Notwithstanding the rights of Certificateholders set forth in this Section 11.11 the Trustee need not take any action that it determines might involve it in liability unless such Holders of Certificates or the Certificate Insurer shall have offered security or indemnity satisfactory to the Trustee, against the costs, expenses and liabilities which might be incurred by it in compliance with such request, order or direction.
 
The Trustee shall not be deemed to have knowledge of an Insurer Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless the Trustee received written notice of such Insurer Default.
 
Section 11.12. Third Party Rights.
 
The Swap Provider and the Cap Counterparties shall be express third-party beneficiaries of this Agreement to the extent of their express rights to receive payments under this Agreement or any other express rights of the Swap Provider and the Cap Counterparties explicitly stated in this Agreement, and shall have the right to enforce such rights under this Agreement as if the Swap Provider and the Cap Counterparties were parties hereto.


161

 
IN WITNESS WHEREOF, the Depositor, the Master Servicer and the Trustee have caused their names to be signed hereto by their respective officers thereunto duly authorized all as of the day and year first above written.
 
 
IMPAC SECURED ASSETS CORP.,
Depositor
 
By: /s/ Gretchen Verdugo        
Name: Gretchen Verdugo
Title: EVP, CFO
 
 
IMPAC FUNDING CORPORATION,
Master Servicer
 
By: /s/ Nancy Pollard        
Name: Nancy Pollard
Title: EVP
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
Trustee
 
By: /s/ Marion Hogan        
Name: Marion Hogan
Title: Associate
 
By: /s/ Jennifer Hermansader        
Name: Jennifer Hermansader
Title: Associate
 
 

 
Agreed and accepted to with respect to
its obligations under Section 9.01(a)
 
IMPAC MORTGAGE HOLDINGS, INC.
(solely with respect to its obligations under
Section 9.01(a))
 
 
By: /s/ Gretchen Verdugo        
Name: Gretchen Verdugo
Title: EVP, CFO
 
 




STATE OF CALIFORNIA
)
 
) ss.:
COUNTY OF ORANGE
)
   
On the 30th day of April, 2007, before me, a notary public in and for said State, personally appeared Gretchen Verdugo, known to me to be the Chief Financial Officer of Impac Secured Assets Corp., one of the corporations that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.
 
                    
Notary Public
 
[Notarial Seal]
 


 
 
STATE OF CALIFORNIA
)
 
) ss.:
COUNTY OF ORANGE
)
   
On the 30th day of April, 2007, before me, a notary public in and for said State, personally appeared Nancy Pollard, known to me to be an Executive Vice President of Impac Funding Corporation, one of the corporations that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.
 
                    
Notary Public
 
[Notarial Seal]
 



 
STATE OF CALIFORNIA
)
 
) ss.:
COUNTY OF ORANGE
)
   
On the 30th day of April, 2007, before me, a notary public in and for said State, personally appeared __________________, known to me to be a(n) ___________________ of Deutsche Bank National Trust Company, one of the entities that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such corporation executed the within instrument.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.
                
Notary Public
 
[Notarial Seal]



 
STATE OF CALIFORNIA
)
 
) ss.:
COUNTY OF ORANGE
)
   
On the 30th day of April, 2007, before me, a notary public in and for said State, personally appeared __________________, known to me to be a(n) ___________________of Deutsche Bank National Trust Company, one of the entities that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such corporation executed the within instrument.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.
            
Notary Public
 
[Notarial Seal]



 
 
STATE OF CALIFORNIA
)
 
) ss.:
COUNTY OF ORANGE
)
   
On the 30th day of April, 2007, before me, a notary public in and for said State, personally appeared Gretchen Verdugo, known to me to be the Executive Vice President and Chief Financial Officer of Impac Mortgage Holdings, Inc., one of the corporations that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument.
 
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.
                
Notary Public
 
[Notarial Seal]
 
 

 
EXHIBIT A
 
FORM OF CLASS A CERTIFICATE
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).
 
THIS CERTIFICATE SHALL INITIALLY BE ISSUED AS ONE OR MORE CERTIFICATES REGISTERED IN THE NAME OF THE DEPOSITORY OR ITS NOMINEE AND, EXCEPT AS PROVIDED BELOW, REGISTRATION OF SUCH CERTIFICATES MAY NOT BE TRANSFERRED BY THE TRUSTEE EXCEPT TO ANOTHER DEPOSITORY THAT AGREES TO HOLD SUCH CERTIFICATES FOR THE RESPECTIVE CERTIFICATE OWNERS WITH OWNERSHIP INTERESTS THEREIN. THE CERTIFICATE OWNERS SHALL HOLD THEIR RESPECTIVE OWNERSHIP INTERESTS IN AND TO EACH OF SUCH BOOK-ENTRY CERTIFICATES THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY AND, EXCEPT AS PROVIDED BELOW, SHALL NOT BE ENTITLED TO DEFINITIVE CERTIFICATES IN RESPECT OF SUCH OWNERSHIP INTERESTS. ALL TRANSFERS BY CERTIFICATE OWNERS OF THEIR RESPECTIVE OWNERSHIP IN THE BOOK-ENTRY CERTIFICATES SHALL BE MADE IN ACCORDANCE WITH THE PROCEDURES ESTABLISHED BY THE DEPOSITORY PARTICIPANT OR BROKERAGE FIRM REPRESENTING SUCH CERTIFICATE OWNER. EACH DEPOSITORY PARTICIPANT SHALL TRANSFER THE OWNERSHIP INTERESTS ONLY IN THE BOOK-ENTRY CERTIFICATES OF CERTIFICATE OWNERS IT REPRESENTS OR OF BROKERAGE FIRMS FOR WHICH IT ACTS AS AGENT IN ACCORDANCE WITH THE DEPOSITORY'S NORMAL PROCEDURES. THE TRUSTEE SHALL NOT BE REQUIRED TO MONITOR, DETERMINE OR INQUIRE AS TO COMPLIANCE WITH THE TRANSFER RESTRICTIONS WITH RESPECT TO THE BOOK-ENTRY CERTIFICATES, AND THE TRUSTEE SHALL HAVE NO LIABILITY FOR TRANSFERS OF OWNERSHIP INTERESTS IN THE BOOK-ENTRY CERTIFICATES MADE THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY OR BETWEEN OR AMONG DEPOSITORY PARTICIPANTS OR CERTIFICATE OWNERS, MADE IN VIOLATION OF THE APPLICABLE RESTRICTIONS.
 
PRIOR TO THE TERMINATION OF THE SUPPLEMENTAL INTEREST TRUST, ANY TRANSFEREE SHALL BE DEEMED TO HAVE MADE THE REPRESENTATIONS IN SECTION 5.02(c) OF THE AGREEMENT (AS DEFINED BELOW).
 

A-1



Certificate No. 1
 
Adjustable Rate
     
Class A[1-A][1-B][1-C][-M] Senior
   
     
Date of Pooling and Servicing Agreement and Cut-off Date: April 1, 2007
 
Percentage Interest: 100%
     
First Distribution Date:
May 25, 2007
 
Aggregate Initial Certificate Principal Balance of the Class A[1-A][1-B][1-C][-M] Certificates: $[_____________]
     
Master Servicer:
Impac Funding Corporation
 
Initial Certificate Principal Balance of this Certificate: $[____________]
 
     
Assumed Final
Distribution Date: September 25, 2037
 
CUSIP: [_________]

MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a percentage interest in the distributions allocable to the Class A[1-A][1-B][1-C][-M] Certificates with respect to a Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed-rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.
 
This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Initial Certificate Principal Balance of this Certificate by the aggregate Initial Certificate Principal Balance of all Class A Certificates, both as specified above) in certain distributions with respect to the Trust Fund consisting primarily of an interest in a pool of one- to four-family adjustable-rate first lien and fixed-rate first and second lien mortgage loans (the “Mortgage Loans”), formed and sold by Impac Secured Assets Corp. (hereinafter called the “Company,” which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among the Company, the Master Servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 

A-2



 
Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date”), commencing as described in the Agreement, to the Person in whose name this Certificate is registered on the Business Day immediately preceding such Distribution Date (the “Record Date”), from the Available Funds in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount of interest and principal, if any, required to be distributed to Holders of Class A[1-A][1-B][1-C][-M] Certificates on such Distribution Date.
 
Distributions on this Certificate will be made either by the Trustee or by a Paying Agent appointed by the Trustee either in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Trustee or such Paying Agent at least 5 Business Days prior to the related Record Date, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register.
 
Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of distributions allocable to principal.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 
The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event the Master Servicer advances funds with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders.
 
For the Class AM Certificates: Ambac Assurance Corporation, in consideration of the payment of the premium and subject to the terms of the Certificate Guaranty Insurance Policy, has unconditionally and irrevocably guaranteed the payment of an amount equal to the Insured Amount (as defined in the Certificate Guaranty Insurance Policy) with respect to the Class AM Certificates with respect to each Distribution Date.
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 

A-3



 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 
Prior to the termination of the Supplemental Interest Trust, any transferee shall be deemed to have made the representations in Section 5.02(c) of the Agreement.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 

A-4



 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 

A-5


IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
   
   
 
By: _____________________________
 
Authorized Signatory
 
 
 
 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class A[1-A][1-B][1-C][-M] Certificates referred to in the within-mentioned Agreement.
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
   
   
 
By: _____________________________
 
Authorized Signatory
 
 

A-6


ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _____________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund.
 
I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:                                                                                                                                                                                                                                                                                         

Dated:
                                                                                      
 
Signature by or on behalf of assignor
   
   
   
 
                                                                        
 
Signature Guaranteed
 
 
 
 
 

 
A-7


DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to___________________________________________ for the account of ______________________________ account number _________________,or, if mailed by check, to _____________________________ Applicable statements should be mailed to _____________________________________________. 
 
This information is provided by ________________________, the assignee named above, or _________________________, as its agent.
 


A-8



EXHIBIT B-1
 
FORM OF CLASS M CERTIFICATE
 
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES [,] [AND] [THE CLASS M-1 CERTIFICATES] [,] [AND] [THE CLASS M-2 CERTIFICATES] [,] [AND] [THE CLASS M-3 CERTIFICATES] [,] [AND] [THE CLASS M-4 CERTIFICATES] [,] [AND] [THE CLASS M-5 CERTIFICATES] [,] [AND] [THE CLASS M-6 CERTIFICATES] [,] [AND] [THE CLASS M-7 CERTIFICATES] AS DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW).
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).
 
THIS CERTIFICATE SHALL INITIALLY BE ISSUED AS ONE OR MORE CERTIFICATES REGISTERED IN THE NAME OF THE DEPOSITORY OR ITS NOMINEE AND, EXCEPT AS PROVIDED BELOW, REGISTRATION OF SUCH CERTIFICATES MAY NOT BE TRANSFERRED BY THE TRUSTEE EXCEPT TO ANOTHER DEPOSITORY THAT AGREES TO HOLD SUCH CERTIFICATES FOR THE RESPECTIVE CERTIFICATE OWNERS WITH OWNERSHIP INTERESTS THEREIN. THE CERTIFICATE OWNERS SHALL HOLD THEIR RESPECTIVE OWNERSHIP INTERESTS IN AND TO EACH OF SUCH BOOK-ENTRY CERTIFICATES THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY AND, EXCEPT AS PROVIDED BELOW, SHALL NOT BE ENTITLED TO DEFINITIVE CERTIFICATES IN RESPECT OF SUCH OWNERSHIP INTERESTS. ALL TRANSFERS BY CERTIFICATE OWNERS OF THEIR RESPECTIVE OWNERSHIP IN THE BOOK-ENTRY CERTIFICATES SHALL BE MADE IN ACCORDANCE WITH THE PROCEDURES ESTABLISHED BY THE DEPOSITORY PARTICIPANT OR BROKERAGE FIRM REPRESENTING SUCH CERTIFICATE OWNER. EACH DEPOSITORY PARTICIPANT SHALL TRANSFER THE OWNERSHIP INTERESTS ONLY IN THE BOOK-ENTRY CERTIFICATES OF CERTIFICATE OWNERS IT REPRESENTS OR OF BROKERAGE FIRMS FOR WHICH IT ACTS AS AGENT IN ACCORDANCE WITH THE DEPOSITORY'S NORMAL PROCEDURES. THE TRUSTEE SHALL NOT BE REQUIRED TO MONITOR, DETERMINE OR INQUIRE AS TO COMPLIANCE WITH THE TRANSFER RESTRICTIONS WITH RESPECT TO THE BOOK-ENTRY CERTIFICATES, AND THE TRUSTEE SHALL HAVE NO LIABILITY FOR TRANSFERS OF OWNERSHIP INTERESTS IN THE BOOK-ENTRY CERTIFICATES MADE THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY OR BETWEEN OR AMONG DEPOSITORY PARTICIPANTS OR CERTIFICATE OWNERS, MADE IN VIOLATION OF THE APPLICABLE RESTRICTIONS.
 

B-1-1



 
ANY TRANSFEREE SHALL BE DEEMED TO HAVE MADE THE REPRESENTATIONS SET FORTH IN SECTION 5.02(c) OF THE AGREEMENT.
 

B-1-2



 
Certificate No. 1
Adjustable Rate
   
Class M-[1][2][3][4][5][6]
Aggregate Initial Certificate
[7][8]
Principal Balance of the Class M-
 
[1][2][3][4][5][6][7][8] Certificates:
 
$[__________]
Date of Pooling and Servicing
Initial Certificate Principal Balance
Agreement and Cut-off Date:
of this Certificate:
April 1, 2007
$[__________]
   
First Distribution Date:
CUSIP: [__________]
May 25, 2007
 
   
Master Servicer:
 
Impac Funding Corporation
 
   
Assumed Final Distribution Date:
 
September 25, 2037
 
 
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a percentage interest in any distributions allocable to the Class M-[1][2][3][4][5][6][7][8] Certificates with respect to the Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.
 
This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Initial Certificate Principal Balance of this Certificate by the aggregate Initial Certificate Principal Balance of all Class M Certificates, both as specified above) in certain distributions with respect to a Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans (the “Mortgage Loans”), formed and sold by Impac Secured Assets Corp. (hereinafter called the “Company,” which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among the Company, the Master Servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 

B-1-3



 
Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date”), commencing as described in the Agreement, to the Person in whose name this Certificate is registered on the Business Day immediately preceding such Distribution Date (the “Record Date”), from the Available Funds in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount of interest and principal, if any, required to be distributed to Holders of Class M-[1][2][3][4][5][6][7][8] Certificates on such Distribution Date.
 
Distributions on this Certificate will be made either by the Trustee or by a Paying Agent appointed by the Trustee either in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Trustee or such Paying Agent at least 5 Business Days prior to the related Record Date, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register.
 
Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of the distributions allocable to principal and any Realized Losses allocable hereto.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 
The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event the Master Servicer advances funds with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders.
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 

B-1-4



 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with the consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 
Any transferee shall be deemed to have made the representations set forth in Section 5.02(c) of the Agreement.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 

B-1-5



 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 

B-1-6


IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
 
By: ____________________________
 
Authorized Signatory
 
 
 
 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class M-[1][2][3][4][5][6][7][8] Certificates referred to in the within-mentioned Agreement.
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
 
By: ____________________________
 
Authorized Signatory
 

B-1-7


ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _____________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund.
 
I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:                                                                                                                                                      & amp;a mp;a mp;a mp; #160 ;                                                                                                                                                    
 

Dated:
                                                                                      
 
Signature by or on behalf of assignor
   
   
   
 
                                                                        
 
Signature Guaranteed
 
 

B-1-8


DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to                                                                                     for the account of                                          account number                      ,or, if mailed by check, to                                                     Applicable statements should be mailed to                                                                                    . 
 
This information is provided by                                 , the assignee named above, or                           , as its agent.
 


B-1-9



EXHIBIT B-2
 
FORM OF CLASS B CERTIFICATE
 
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES AND THE CLASS M CERTIFICATES AS DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW).
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).
 
THIS CERTIFICATE SHALL INITIALLY BE ISSUED AS ONE OR MORE CERTIFICATES REGISTERED IN THE NAME OF THE DEPOSITORY OR ITS NOMINEE AND, EXCEPT AS PROVIDED BELOW, REGISTRATION OF SUCH CERTIFICATES MAY NOT BE TRANSFERRED BY THE TRUSTEE EXCEPT TO ANOTHER DEPOSITORY THAT AGREES TO HOLD SUCH CERTIFICATES FOR THE RESPECTIVE CERTIFICATE OWNERS WITH OWNERSHIP INTERESTS THEREIN. THE CERTIFICATE OWNERS SHALL HOLD THEIR RESPECTIVE OWNERSHIP INTERESTS IN AND TO EACH OF SUCH BOOK-ENTRY CERTIFICATES THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY AND, EXCEPT AS PROVIDED BELOW, SHALL NOT BE ENTITLED TO DEFINITIVE CERTIFICATES IN RESPECT OF SUCH OWNERSHIP INTERESTS. ALL TRANSFERS BY CERTIFICATE OWNERS OF THEIR RESPECTIVE OWNERSHIP IN THE BOOK-ENTRY CERTIFICATES SHALL BE MADE IN ACCORDANCE WITH THE PROCEDURES ESTABLISHED BY THE DEPOSITORY PARTICIPANT OR BROKERAGE FIRM REPRESENTING SUCH CERTIFICATE OWNER. EACH DEPOSITORY PARTICIPANT SHALL TRANSFER THE OWNERSHIP INTERESTS ONLY IN THE BOOK-ENTRY CERTIFICATES OF CERTIFICATE OWNERS IT REPRESENTS OR OF BROKERAGE FIRMS FOR WHICH IT ACTS AS AGENT IN ACCORDANCE WITH THE DEPOSITORY'S NORMAL PROCEDURES. THE TRUSTEE SHALL NOT BE REQUIRED TO MONITOR, DETERMINE OR INQUIRE AS TO COMPLIANCE WITH THE TRANSFER RESTRICTIONS WITH RESPECT TO THE BOOK-ENTRY CERTIFICATES, AND THE TRUSTEE SHALL HAVE NO LIABILITY FOR TRANSFERS OF OWNERSHIP INTERESTS IN THE BOOK-ENTRY CERTIFICATES MADE THROUGH THE BOOK-ENTRY FACILITIES OF THE DEPOSITORY OR BETWEEN OR AMONG DEPOSITORY PARTICIPANTS OR CERTIFICATE OWNERS, MADE IN VIOLATION OF THE APPLICABLE RESTRICTIONS.
 
ANY TRANSFEREE SHALL BE DEEMED TO HAVE MADE THE REPRESENTATIONS SET FORTH IN SECTION 5.02(c) OF THE AGREEMENT.
 

B-2-1



 
Certificate No. 1
Variable Pass-Through Rate
   
Class B
Aggregate Initial Certificate Principal
 
Balance of the Class B Certificates:
 
$[__________]
   
Date of Pooling and Servicing
Initial Certificate Principal Balance
Agreement and Cut-off Date:
of this Certificate:
April 1, 2007
$[__________]
   
First Distribution Date:
CUSIP: [__________]
May 25, 2007
 
   
Master Servicer:
 
Impac Funding Corporation
 
   
Assumed Final Distribution Date:
 
September 25, 2037
 
 
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a percentage interest in any distributions allocable to the Class B Certificates with respect to the Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.
 
This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Initial Certificate Principal Balance of this Certificate by the aggregate Initial Certificate Principal Balance of all Class B Certificates, both as specified above) in certain distributions with respect to a Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans (the “Mortgage Loans”), formed and sold by Impac Secured Assets Corp. (hereinafter called the “Company,” which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the “Agreement”) among the Company, the Master Servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 

B-2-2



 
Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date”), commencing as described in the Agreement, to the Person in whose name this Certificate is registered on the Business Day immediately preceding such Distribution Date (the “Record Date”), from the Available Funds in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount of interest and principal, if any, required to be distributed to Holders of Class B Certificates on such Distribution Date.
 
Distributions on this Certificate will be made either by the Trustee or by a Paying Agent appointed by the Trustee either in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Trustee or such Paying Agent at least 5 Business Days prior to the related Record Date, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register.
 
Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of the distributions allocable to principal and any Realized Losses allocable hereto.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 
The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event the Master Servicer advances funds with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders.
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with the consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 

B-2-3



 
Any transferee shall be deemed to have made the representations set forth in Section 5.02(c) of the Agreement.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 

B-2-4



 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 

B-2-5


IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
   
   
 
By: _______________________________
 
Authorized Signatory
 
 
 
 
 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class B Certificates referred to in the within-mentioned Agreement.
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
as Trustee
   
   
 
By: _______________________________
 
Authorized Signatory
 

B-2-6


ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _____________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund.
 
I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:                                                                                                                                                      & amp;a mp;a mp;a mp; #160 ;                                                                                                                                                   
 
 

Dated:
                                                                                      
 
Signature by or on behalf of assignor
   
   
   
 
                                                                        
 
Signature Guaranteed
 

B-2-7


DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to                                                                                     for the account of                                          account number                      ,or, if mailed by check, to                                                     Applicable statements should be mailed to                                                                                    . 
 
This information is provided by                                 , the assignee named above, or                           , as its agent.
 

 


B-2-8



EXHIBIT B-3
 
FORM OF CLASS C CERTIFICATES
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).
 
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). ANY RESALE OR TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPTED FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.
 
NO TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT (EACH A “PLAN”) SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE SHALL BE MADE EXCEPT IN COMPLIANCE WITH THE PROCEDURES DESCRIBED HEREIN.
 

B-3-1



 
NO TRANSFER OF THIS CERTIFICATE SHALL BE MADE UNLESS THE PROPOSED TRANSFEREE OF SUCH CERTIFICATE (1) PROVIDES TO THE TRUSTEE THE APPROPRIATE TAX CERTIFICATION FORMS THAT WOULD ELIMINATE ANY WITHHOLDING OR DEDUCTION FOR TAXES FROM AMOUNTS PAYABLE BY THE SWAP PROVIDER, PURSUANT TO THE INTEREST RATE SWAP AGREEMENT, AND BY THE CAP COUNTERPARTIES, PURSUANT TO THE CAP CONTRACTS, TO THE SUPPLEMENTAL INTEREST TRUST (I.E., IRS FORM W-9 OR IRS FORM W-8BEN, W-8IMY, W-8EXP OR W-8ECI, AS APPLICABLE (OR ANY SUCCESSOR FORM THERETO), TOGETHER WITH ANY APPLICABLE ATTACHMENTS) AND (2) AGREES TO UPDATE SUCH FORMS (A) UPON EXPIRATION OF ANY SUCH FORM, (B) AS REQUIRED UNDER THEN APPLICABLE U.S. TREASURY REGULATIONS AND (C) PROMPTLY UPON LEARNING THAT SUCH FORMS HAVE BECOME OBSOLETE OR INCORRECT, EACH AS A CONDITION TO SUCH TRANSFER. IN ADDITION, NO TRANSFER OF THIS CERTIFICATE SHALL BE MADE IF SUCH TRANSFER WOULD CAUSE THE SUPPLEMENTAL INTEREST TRUST TO BE BENEFICIALLY OWNED BY TWO OR MORE PERSONS FOR FEDERAL INCOME TAX PURPOSES, OR CONTINUE TO BE SO TREATED, UNLESS (I) EACH PROPOSED TRANSFEREE OF SUCH CERTIFICATE COMPLIES WITH THE FOREGOING CONDITIONS, AND (II) THE PROPOSED MAJORITY HOLDER OF THE CLASS C CERTIFICATES (OR EACH HOLDER, IF THERE IS OR WOULD BE NO MAJORITY HOLDER) (X) PROVIDES, OR CAUSES TO BE PROVIDED, ON BEHALF OF THE SUPPLEMENTAL INTEREST TRUST, IF APPLICABLE, TO THE TRUSTEE, THE APPROPRIATE TAX CERTIFICATION FORM THAT WOULD BE REQUIRED FROM THE SUPPLEMENTAL INTEREST TRUST TO ELIMINATE ANY WITHHOLDING OR DEDUCTION FOR TAXES FROM AMOUNTS PAYABLE BY THE SWAP PROVIDER, PURSUANT TO THE INTEREST RATE SWAP AGREEMENT, AND BY THE CAP COUNTERPARTIES, PURSUANT TO THE CAP CONTRACTS, TO THE SUPPLEMENTAL INTEREST TRUST (I.E., IRS FORM W-9 OR IRS FORM W-8BEN, W-8IMY, W-8EXP OR W-8ECI, AS APPLICABLE (OR ANY SUCCESSOR FORM THERETO), TOGETHER WITH ANY APPLICABLE ATTACHMENTS) AND (Y) AGREES TO UPDATE SUCH FORM (A) UPON EXPIRATION OF SUCH FORM, (B) AS REQUIRED UNDER THEM APPLICABLE U.S. TREASURY REGULATIONS AND (C) PROMPTLY UPON LEARNING THAT SUCH FORM HAS BECOME OBSOLETE OR INCORRECT. UNDER THE AGREEMENT, UPON RECEIPT OF ANY TAX CERTIFICATION FORM PURSUANT TO THESE TRANSFER RESTRICTIONS FROM A PROPOSED HOLDER OF THIS CERTIFICATE, THE TRUSTEE, AS THE SUPPLEMENTAL INTEREST TRUST TRUSTEE, SHALL FORWARD SUCH TAX CERTIFICATION FORM PROVIDED TO IT TO THE SWAP PROVIDER AND CAP COUNTERPARTIES. EACH HOLDER OF THIS CERTIFICATE AND EACH TRANSFEREE THEREOF SHALL BE DEEMED TO HAVE CONSENTED TO THE TRUSTEE, AS THE SUPPLEMENTAL INTEREST TRUST TRUSTEE, FORWARDING TO THE SWAP PROVIDER AND CAP COUNTERPARTIES ANY TAX CERTIFICATION FORM IT HAS PROVIDED AND UPDATED IN ACCORDANCE WITH THESE TRANSFER RESTRICTIONS. ANY PURPORTED SALES OR TRANSFERS OF THIS CERTIFICATE TO A TRANSFEREE WHICH DOES NOT COMPLY WITH THESE REQUIREMENTS SHALL BE DEEMED NULL AND VOID UNDER THE AGREEMENT.

 

B-3-2



Certificate No. 1
   
     
Class C
 
Aggregate Initial Notional Amount of the Class C Certificates:
$_____________]
     
Date of Pooling and Servicing
Agreement and Cut-off Date:
April 1, 2007
 
Initial Notional Amount of this Certificate:
$[_____________]
     
First Distribution Date:
May 25, 2007
 
Initial Certificate Principal Balance
of this Certificate $[_________]
     
Master Servicer:
Impac Funding Corporation
 
Percentage Interest of this
Certificate: 100%
     
Assumed Final Distribution Date:
September 25, 2037
 
CUSIP: [_________]
 
MORTGAGE PASS-THROUGH CERTIFICATE
 
SERIES 2007-3
 
evidencing percentage interest in the distributions allocable to the Class C Certificates with respect to a Trust Fund consisting primarily of a pool of one- to four- family adjustable-rate first lien and fixed rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other or obligation secured by or payable from payments on the Certificates.
 
This certifies that [___________________] is the registered owner of the Percentage Interest evidenced by this Class C Certificate (obtained by dividing the Original Class C Certificate by the Original Class Certificate Principal Balance) in certain distributions with respect to a Trust consisting primarily of the Mortgage Loans deposited by Impac Secured Assets Corp. (the “Company”). The Trust was created pursuant to a Pooling and Servicing Agreement dated as of April 1, 2007 (the “Agreement”) among the Company, Impac Funding Corporation, as master servicer (the “Master Servicer”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Class C Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Class C Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 

B-3-3



 
Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the “Distribution Date”), commencing as described in the Agreement, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such Distribution Date (the “Record Date”), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount (of interest, if any) required to be distributed to Holders of Class C Certificates on such Distribution Date.
 
Distributions on this Certificate will be made either by the Trustee or by a Paying Agent appointed by the Trustee either in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Trustee or such Paying Agent at least 5 Business Days prior to the related Record Date, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register.
 
Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 
The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event the Master Servicer advances funds with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders.
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 

B-3-4



 
No transfer of a Certificate of this Class shall be made unless such transfer is made pursuant to an effective registration statement under the Act and any applicable state securities laws or is exempt from the registration requirements under said Act and such laws. In the event that a transfer is to be made in reliance upon an exemption from the Act and such laws, in order to assure compliance with the act and such laws, the Certificateholder desiring to effect such transfer and such Certificateholder’s prospective transferee shall each certify to the Trustee and the Company in writing the facts surrounding the transfer. In the event that such a transfer is not to be made pursuant to Rule 144A of the act, there shall be delivered to the Trustee and the Company of an Opinion of Counsel that such transfer may be made pursuant to an exemption from the Act, which Opinion of Counsel shall not be obtained at the expense of the Trustee, the Master Servicer or the Company; or there shall be delivered to the Trustee and the Company a transferor certificate by the transferor and an investment letter shall be executed by the transferee. The Holder hereof desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee and the Company against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.
 
No transfer of this Certificate to a Plan subject to ERISA or Section 4975 of the Code, any Person acting, directly or indirectly, on behalf of any such Plan or any person using Plan Assets to acquire this Certificate shall be made except in accordance with Section 5.02(c) of the Agreement.
 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with the consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 

B-3-5



 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 

B-3-6


IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
 
By:______________________________
   Authorized Signatory


 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class C Certificates referred to in the within-mentioned Agreement.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
 
By:______________________________
   Authorized Signatory



B-3-7


ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _____________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund.
 
I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:
 
 


Dated:
 
 
Signature by or on behalf of assignor
   
   
 
Signature Guaranteed


B-3-8


DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to ________________________________________________for the account of ______________ account number ___________, or, if mailed by check, to_____________________ Applicable statements should be mailed to ______________________________________ _______________________________________________________________________________________.
 
This information is provided by __________________, the assignee named above, or ____________________, as its agent.
 

 


B-3-9



EXHIBIT B-4
 
FORM OF CLASS P CERTIFICATE
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).
 
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). ANY RESALE OR TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPTED FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.
 
NO TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT (EACH A “PLAN”) SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE SHALL BE MADE EXCEPT IN COMPLIANCE WITH THE PROCEDURES DESCRIBED HEREIN.
 

B-4-1



Certificate No. 1
   
     
Class P
 
Aggregate Initial Certificate Principal
Balance of the Class P Certificates:
$100.00
     
Date of Pooling and Servicing
Agreement and Cut-off Date:
April 1, 2007
 
Initial Certificate Principal Balance
of this Certificate Denomination:
$100.00
     
First Distribution Date
May 25, 2007
 
Percentage Interest of this Certificate:
100%
     
Master Servicer
Impac Funding Corporation
 
CUSIP: [_________]
     
Assumed Final Distribution Date:
September 25, 2037
   
 
MORTGAGE PASS-THROUGH CERTIFICATE
 
SERIES 2007-3
 
evidencing a percentage interest in any distributions allocable to the Class P Certificates with respect to the Trust Fund consisting primarily of a pool of one-to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.
 

B-4-2



 
This certifies that Deutsche Bank National Trust Company on behalf of the Impac NIM Trust 2007-3 Noteholders is the registered owner of the Percentage Interest evidenced by this Class P Certificate (obtained by dividing the Denomination of this Class P Certificate by the Original Class Certificate Principal Balance) in certain distributions with respect to a Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans (the “Mortgage Loans”), formed and sold by Impac Secured Assets Corp. (hereinafter called the “Company,” which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the “Agreement”) among the Company, the Master Servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement; to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 
Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the “Distribution Date”), commencing as described in the Agreement, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the month immediately preceding the month of such Distribution Date (the “Record Date”), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount (of Prepayment Charges and principal, if any) required to be distributed to Holders of Class P Certificates on such Distribution Date.
 
Distributions on this Certificate will be made either by the Trustee or by a Paying Agent appointed by the Trustee either in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Trustee or such Paying Agent at least 5 Business Days prior to the related Record Date, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register.
 
Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of the distributions allocable to principal allocable hereto.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 

B-4-3



 
The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event the Master Servicer advances funds with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders.
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 
No transfer of a Certificate of this Class shall be made unless such transfer is made pursuant to an effective registration statement under the Act and any applicable state securities laws or is exempt from the registration requirements under said Act and such laws. In the event that a transfer is to be made in reliance upon an exemption from the Act and such laws, in order to assure compliance with the Act and such laws, the Certificateholder desiring to effect such transfer and such Certificateholder's prospective transferee shall each certify to the Trustee and the Company in writing the facts surrounding the transfer. In the event that such a transfer is not to be made pursuant to Rule 144A of the Act, there shall be delivered to the Trustee and the Company of an Opinion of Counsel that such transfer may be made pursuant to an exemption from the Act, which Opinion of Counsel shall not be obtained at the expense of the Trustee, the Master Servicer or the Company; or there shall be delivered to the Trustee and the Company a transferor certificate by the transferor and an investment letter shall be executed by the transferee. The Holder hereof desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee and the Company against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.
 
No transfer of this Certificate to a Plan subject to ERISA or Section 4975 of the Code, any Person acting, directly or indirectly, on behalf of any such Plan or any person using Plan Assets to acquire this Certificate shall be made except in accordance with Section 5.02(c) of the Agreement.
 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with the consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 

B-4-4



 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 

B-4-5



IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
 
By:______________________________
   Authorized Signatory


 

 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class P Certificates referred to in the within-mentioned Agreement.
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
 
By:______________________________
Authorized Signatory

 

B-4-6



ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
 
 
 
(Please print or typewrite name and address including postal zip code of assignee)
 
the Percentage Interest evidenced by the within Certificate and hereby authorizes the transfer of registration of such Percentage Interest to assignee on the Certificate Register of the Trust.
 
I (We) further direct the Trustee to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:
 
 
 


Dated:
 
 
Signature by or on behalf of assignor
   
   
 
Signature Guaranteed

 

 

B-4-7



 
DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to ________________________________________________for the account of ______________ account number ___________, or, if mailed by check, to_____________________ Applicable statements should be mailed to ______________________________________ _______________________________________________________________________________________.
 
This information is provided by __________________, the assignee named above, or ____________________, as its agent.
 


B-4-8



EXHIBIT B-5
 
FORM OF CLASS R CERTIFICATE
 
THIS CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON OR A DISQUALIFIED ORGANIZATION (AS DEFINED BELOW).
 
SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE “CODE”).
 
NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 5.02(c) OF THE AGREEMENT (AS DEFINED BELOW) OR AN OPINION OF COUNSEL AS PROVIDED IN SECTION 5.02(c) THAT THE PURCHASE OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE MASTER SERVICER, THE COMPANY OR THE TRUSTEE TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.
 
THIS CLASS R CERTIFICATE HAS NO PRINCIPAL BALANCE, DOES NOT BEAR INTEREST AND WILL NOT RECEIVE ANY DISTRIBUTIONS EXCEPT AS PROVIDED HEREIN.
 

B-5-1



 
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE MASTER SERVICER AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION 1381(a)(2)(C) OF THE CODE, (D) ANY ELECTING LARGE PARTNERSHIP UNDER SECTION 775(a) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B) (C) OR (D) BEING HEREIN REFERRED TO AS A “DISQUALIFIED ORGANIZATION”) OR (E) AN AGENT OF A DISQUALIFIED ORGANIZATION, (2) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX, (3) SUCH TRANSFEREE SATISFIES CERTAIN ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND (4) SUCH TRANSFEREE IS A UNITED STATES PERSON. NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OR ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION OR A NON-UNITED STATES PERSON, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THIS CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.
 

B-5-2



Certificate No. 1
   
     
Class R Senior
   
     
Date of Pooling and Servicing
Agreement and Cut-off Date: April 1, 2007
 
Percentage Interest: 100%
     
First Distribution Date: May 25, 2007
   
     
Master Servicer:
Impac Funding Corporation
   
     
Assumed Final Distribution Date:
September 25, 2037
 
CUSIP: [_________]
 
MORTGAGE PASS-THROUGH CERTIFICATE,
 
SERIES 2007-3
 
evidencing a percentage interest in any distributions allocable to the Class R Certificates with respect to the Trust Fund consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans formed and sold by IMPAC SECURED ASSETS CORP.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Impac Secured Assets Corp., the Master Servicer, the Trustee referred to below or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Impac Secured Assets Corp., the Master Servicer, the Trustee or any of their affiliates. None of the Company, the Master Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.
 
This certifies that [_______________] is the registered owner of the Percentage Interest evidenced by this Certificate stated above in certain distributions with respect to a Trust Fund, consisting primarily of a pool of one- to four-family adjustable-rate first lien and fixed rate first and second lien mortgage loans (the “Mortgage Loans”), formed and sold by Impac Secured Assets Corp. (hereinafter called the “Company,” which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the “Agreement”) among the Company, the Master Servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
 

B-5-3



 
This Certificate does not have a principal balance or pass-through rate and will be entitled to distributions only to the Patent set forth in the Agreement. In addition, any distribution of the proceeds of any remaining assets of the Trust will be made only upon presentment and surrender of this Certificate at the office or agency maintained by the Trustee.
 
This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Pass-Through Certificates of the Series specified hereon (herein collectively called the “Certificates”).
 
As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Trustee, the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them.
 
No transfer of a Certificate of this Class shall be made unless such transfer is made pursuant to an effective registration statement under the Act and any applicable state securities laws or is exempt from the registration requirements under said Act and such laws. In the event that a transfer is to be made in reliance upon an exemption from the Act and such laws, in order to assure compliance with the Act and such laws, the Certificateholder desiring to effect such transfer and such Certificateholder's prospective transferee shall each certify to the Trustee and the Company in writing the facts surrounding the transfer. In the event that such a transfer is not to be made pursuant to Rule 144A of the Act, there shall be delivered to the Trustee and the Company of an Opinion of Counsel that such transfer may be made pursuant to an exemption from the Act, which Opinion of Counsel shall not be obtained at the expense of the Trustee, the Master Servicer or the Company; or there shall be delivered to the Trustee and the Company a transferor certificate by the transferor and an investment letter shall be executed by the transferee. The Holder hereof desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee and the Company against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.
 
No transfer of this Certificate to a Plan subject to ERISA or Section 4975 of the Code, any Person acting, directly or indirectly, on behalf of any such Plan or any person using Plan Assets to acquire this Certificate shall be made except in accordance with Section 5.02(c) of the Agreement.
 
Each Holder of this Certificate will be deemed to have agreed to be bound by the restrictions of the Agreement, including but not limited to the restrictions that (i) each person holding or acquiring any Ownership Interest in this Certificate must be a Permitted Transferee, (ii) no Ownership Interest, in this Certificate may be transferred without delivery to the Trustee of (a) a transfer affidavit of the proposed transferee and (b) a transfer certificate of the transferor, each of such documents to be in the form described in the Agreement, (iii) each person holding or acquiring any Ownership Interest in this Certificate must agree to require a transfer affidavit and to deliver a transfer certificate to the Trustee as required pursuant to the Agreement, (iv) each person holding or acquiring an Ownership Interest in this Certificate must agree not to transfer an Ownership Interest in this Certificate if it has actual knowledge that the proposed transferee is not a Permitted Transferee and (v) any attempted or purported transfer of any Ownership Interest in this Certificate in violation of such restrictions will be absolutely null and void and will vest no rights in the purported transferee. Pursuant to the Agreement, the Trustee will provide the Internal Revenue Service and any pertinent persons with the information needed to compute the tax imposed under the applicable tax laws on transfers of residual interests to disqualified organizations, if any person other than a Permitted Transferee acquires an Ownership Interest on a Class R Certificate in violation of the restrictions mentioned above.
 

B-5-4



 
The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby and with the consent of the Certificate Insurer. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances with the consent of the Certificate Insurer and without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee, duly endorsed by, or accompanied by an, assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees.
 
The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same.
 
No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
 
The Company, the Master Servicer and the Trustee and any agent of the Company, the Master Servicer or the Trustee may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary.
 

B-5-5



 
This Certificate shall be governed by and construed in accordance with the laws of the State of New York.
 
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
 
Unless the certificate of authentication hereon has been executed by the Trustee, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
 


B-5-6



IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.
 
Dated: April 30, 2007
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
By:______________________________
   Authorized Signatory


 

 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class R Certificates referred to in the within-mentioned Agreement.
 
   
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee
 
 
By:______________________________
Authorized Signatory
 

B-5-7



ASSIGNMENT
 
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
 
 
 
(Please print or typewrite name and address including postal zip code of assignee)
 
the Percentage Interest evidenced by the within Certificate and hereby authorizes the transfer of registration of such Percentage Interest to assignee on the Certificate Register of the Trust.
 
I (We) further direct the Trustee to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address:
 
 
 
 

Dated:
 
 
Signature by or on behalf of assignor
   
   
 
Signature Guaranteed

B-5-8


DISTRIBUTION INSTRUCTIONS
 
The assignee should include the following for purposes of distribution:
 
Distributions shall be made, by wire transfer or otherwise, in immediately available funds to ________________________________________________for the account of ______________ account number ___________, or, if mailed by check, to_____________________ Applicable statements should be mailed to ______________________________________ _______________________________________________________________________________________.
 
This information is provided by __________________, the assignee named above, or ____________________, as its agent.
 


B-5-9



EXHIBIT C
 
FORM OF TRUSTEE'S INITIAL CERTIFICATION
 
April 30, 2007            
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, California 92612
 
Impac Funding Corporation
19500 Jamboree Road
Irvine, California 92612
 
 
Re:
Pooling and Servicing Agreement, dated as of April 1, 2007, among Impac
Secured Assets Corp., Impac Funding Corporation and Deutsche Bank National
Trust Company, relating to Mortgage Pass-Through Certificates, Series 2007-3
 
Ladies and Gentlemen:
 
In accordance with Section 2.02 of the above-captioned Pooling and Servicing Agreement, the undersigned, as Trustee, hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or listed on the attachment hereto) it has reviewed the Mortgage File and the Mortgage Loan Schedule and has determined that: (i) all documents required to be included in the Mortgage File are in its possession; (ii) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan; and (iii) based on examination by it, and only as to such documents, the information set forth in items (iii) and (iv) of the definition or description of “Mortgage Loan Schedule” is correct.
 
The Trustee has made no independent examination of any documents contained in each Mortgage File beyond the review specifically required in the above-referenced Pooling and Servicing Agreement. The Trustee makes no representation that any documents specified in clause (vi) of Section 2.01 should be included in any Mortgage File. The Trustee makes no representations as to and shall not be responsible to verify: (i) the validity, legality, sufficiency, enforceability, due authorization, recordability or genuineness of any of the documents contained in each Mortgage File of any of the Mortgage Loans identified on the Mortgage Loan Schedule, (ii) the collectability, insurability, effectiveness or suitability of any such Mortgage Loan, or (iii) the existence of any assumption, modification, written assurance or substitution agreement with respect to any Mortgage File if no such documents appear in the Mortgage File delivered to the Trustee.
 

C-1


Capitalized words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing Agreement.
 
 
[_______________________________]
   
   
 
By: ________________________________
   
 
Name:
   
 
Title:

 


C-2



EXHIBIT D
 
FORM OF TRUSTEE FINAL CERTIFICATION
 
______________, 20__            
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, California 92612
 
Impac Funding Corporation
19500 Jamboree Road
Irvine, California 92612
 
Ambac Assurance Corporation
One State Street Plaza
New York, New York 10004
 
 
Re:
Pooling and Servicing Agreement, dated as of April 1, 2007, among Impac
Secured Assets Corp., Impac Funding Corporation and Deutsche Bank National
Trust Company, relating to Mortgage Pass-Through Certificates, Series 2007-3
 
Ladies and Gentlemen:
 
In accordance with Section 2.02 of the above-captioned Pooling and Servicing Agreement, the undersigned, as Trustee, hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or listed on the attachment hereto) it has received the documents set forth in Section 2.01.
 
The Trustee has made no independent examination of any documents contained in each Mortgage File beyond the review specifically required in the above-referenced Pooling and Servicing Agreement. The Trustee makes no representation that any documents specified in clause (vi) of Section 2.01 should be included in any Mortgage File. The Trustee makes no representations as to and shall not be responsible to verify: (i) the validity, legality, sufficiency, enforceability, due authorization, recordability or genuineness of any of the documents contained in each Mortgage File of any of the Mortgage Loans identified on the Mortgage Loan Schedule, (ii) the collectability, insurability, effectiveness or suitability of any such Mortgage Loan or (iii) the existence of any assumption, modification, written assurance or substitution agreement with respect to any Mortgage File if no such documents appear in the Mortgage File delivered to the Trustee.
 


D-1



Capitalized words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing Agreement.
 
 
[_________________________]
   
   
 
By: ________________________________
   
 
Name:
   
 
Title:

 


D-2



EXHIBIT E
 
FORM OF REMITTANCE REPORT
 
(Provided Upon Request)
 


E-1



EXHIBIT F-1
 

 
REQUEST FOR RELEASE
 
(for Trustee)
 
Loan Information
   
 
Name of Mortgagor:
___________________________
 
Master Servicer
 
 
Loan No.:
___________________________
     
Trustee
   
 
Name:
___________________________
 
Address:
___________________________
   
___________________________
     
 
Trustee
 
 
Mortgage File No.:
___________________________

F-1-1


Request for Requesting Documents (check one):
 
1.
Mortgage Loan Liquidated.
 
(The Master Servicer hereby certifies that all proceeds of foreclosure, insurance or other liquidation have been finally received and deposited into the Custodial Account to the extent required pursuant to the Pooling and Servicing Agreement.)
 
2.
Mortgage Loan in Foreclosure.
 
3.
Mortgage Loan Repurchased Pursuant to Section 9.01 of the Pooling and Servicing Agreement.
 
4.
Mortgage Loan Repurchased Pursuant to Article II of the Pooling and Servicing Agreement.
 
(The Master Servicer hereby certifies that the repurchase price has been deposited into the Custodial Account pursuant to the Pooling and Servicing Agreement.)
 
5.
Other (explain).
 
 
 
 
 
 
 
 


F-1-2


The undersigned Master Servicer hereby acknowledges that it has received from the Trustee for the Holders of Mortgage Pass-Through Certificates, Series 2007-3, the documents referred to below (the “Documents”). All capitalized terms not otherwise defined in this Request for Release shall have the meanings given them in the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Secured Assets Corp., Impac Funding Corporation and the Trustee.
 
( )
Promissory Note dated _________________, 200_, in the original principal sum of $__________, made by __________________, payable to, or endorsed to the order of, the Trustee.
 
( )
Mortgage recorded on _________________________ as instrument no. ___________ in the County Recorders Office of the County of ______________________, State of _____________________ in book/reel/docket of official records at page/image _______________.
 
( )
Deed of Trust recorded on ____________________ as instrument no._____________ in the County Recorder's Office of the County of ______________________, State of _____________________in book/reel/docket __________________ of official records at page/image ________________.
 
( )
Assignment of Mortgage or Deed of Trust to the Trustee, recorded on _______________ as instrument no. ______________ in the County Recorder's Office of the County of ________________, State of ___________________ in book/reel/docket ____________ of official records at page/image ___________.
 
( )
Other documents, including any amendments, assignments or other assumptions of the Mortgage Note or Mortgage.
 
 
( )
___________________________
 
 
( )
___________________________
 
 
( )
___________________________
 
 
( )
___________________________
 

F-1-3

 
The undersigned Master Servicer hereby acknowledges and agrees as follows:
 
(1) The Master Servicer shall hold and retain possession of the Documents in trust for the benefit of the Trustee, solely for the purposes provided in the Agreement.
 
(2) The Master Servicer shall not cause or knowingly permit the Documents to become subject to, or encumbered by, any claim, liens, security interest, charges, writs of attachment or other impositions nor shall the Master Servicer assert or seek to assert any claims or rights of setoff to or against the Documents or any proceeds thereof.
 
(3) The Master Servicer shall return each and every Document previously requested from the Mortgage File to the Trustee when the need therefor no longer exists, unless the Mortgage Loan relating to the Documents has been liquidated and the proceeds thereof have been remitted to the Custodial Account and except as expressly provided in the Agreement.
 
(4) The Documents and any proceeds thereof, including any proceeds of proceeds, coming into the possession or control of the Master Servicer shall at all times be earmarked for the account of the Trustee, and the Master Servicer shall keep the Documents and any proceeds separate and distinct from all other property in the Master Servicer's possession, custody or control.
 
 
IMPAC FUNDING CORPORATION
   
   
 
By: ___________________________
 
Title: ___________________________
Date: _________________, 200_
 


F-1-4



EXHIBIT F-2
 
REQUEST FOR RELEASE
 
[Mortgage Loans Paid in Full]
 
OFFICER’S CERTIFICATE AND TRUST RECEIPT
 
MORTGAGE PASS-THROUGH CERTIFICATES
 
SERIES 2007-3
 
_____________________________________ HEREBY CERTIFIES THAT HE/SHE IS AN OFFICER OF THE MASTER SERVICER, HOLDING THE OFFICE SET FORTH BENEATH HIS/HER SIGNATURE, AND HEREBY FURTHER CERTIFIES AS FOLLOWS:
 
WITH RESPECT TO THE MORTGAGE LOANS, AS THE TERM IS DEFINED IN THE POOLING AND SERVICING AGREEMENT DESCRIBED IN THE ATTACHED SCHEDULE:
 
ALL PAYMENTS OF PRINCIPAL, PREMIUM (IF ANY), AND INTEREST HAVE BEEN MADE.
 
 
LOAN NUMBER: _____________________
BORROWER'S NAME: ________________
   
COUNTY: ___________________________
 


F-2-1


WE HEREBY CERTIFY THAT ALL AMOUNTS RECEIVED IN CONNECTION WITH SUCH PAYMENTS, WHICH ARE REQUIRED TO BE DEPOSITED IN THE CUSTODIAL ACCOUNT PURSUANT TO SECTION 3.10 OF THE POOLING AND SERVICING AGREEMENT, HAVE BEEN OR WILL BE CREDITED.
 
_________ ____________
DATED: _____________________

 
// VICE PRESIDENT
 

// ASSISTANT VICE PRESIDENT
 


F-2-2



EXHIBIT G-1
 
FORM OF INVESTOR REPRESENTATION LETTER
 
___________, 200__            
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, California 92612
 
DB Services Tennessee
648 Grassmere Park Rd.
Nashville, TN 37211
Attn: Transfer Unit
 
 
Re:
Impac Secured Assets Corp.
Mortgage Pass-Through Certificates Series 2007-3, Class [_] Certificates
 
Ladies and Gentlemen:
 
______________ (the “Purchaser”) intends to purchase from ______________ (the “Seller”) $_________ Initial Certificate Principal Balance of Mortgage Pass-Through Certificates, Series 2007-3, Class _____ (the “Certificates”), issued pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Secured Assets Corp., as depositor (the “Company”), Impac Funding Corporation, as master servicer, and Deutsche Bank National Trust Company, as trustee (the “Trustee”). All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Purchaser hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that:
 
1. The Purchaser understands that (a) the Certificates have not been and will not be registered or qualified under the Securities Act of 1933, as amended (the “Act”) or any state securities law, (b) the Company is not required to so register or qualify the Certificates, (c) the Certificates may be resold only if registered and qualified pursuant to the provisions of the Act or any state securities law, or if an exemption from such registration and qualification is available, (d) the Pooling and Servicing Agreement contains restrictions regarding the transfer of the Certificates and (e) the Certificates will bear a legend to the foregoing effect.
 
2. The Purchaser is acquiring the Certificates for its own account for investment only and not with a view to or for sale in connection with any distribution thereof in any manner that would violate the Act or any applicable state securities laws.
 

G-1-1



 
3. The Purchaser is (a) a substantial, sophisticated institutional investor having such knowledge and experience in financial and business matters, and, in particular, in such matters related to securities similar to the Certificates, such that it is capable of evaluating the merits and risks of investment in the Certificates, (b) able to bear the economic risks of such an investment and (c) an “accredited investor” within the meaning of Rule 501(a) (1)-(3) and (7) of Regulation D promulgated pursuant to the Act.
 
4. The Purchaser has been furnished with, and has had an opportunity to review (a) a copy of the Pooling and Servicing Agreement and (b) such other information concerning the Certificates, the Mortgage Loans and the Company as has been requested by the Purchaser from the Company or the Seller and is relevant to the Purchaser's decision to purchase the Certificates. The Purchaser has had any questions arising from such review answered by the Company or the Seller to the satisfaction of the Purchaser.
 
5. The Purchaser has not and will not nor has it authorized or will it authorize any person to (a) offer, pledge, sell, dispose of or otherwise transfer any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) solicit any offer to buy or to accept a pledge, disposition of other transfer of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) otherwise approach or negotiate with respect to any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) make any general solicitation by means of general advertising or in any other manner or (e) take any other action, that (as to any of (a) through (e) above) would constitute a distribution of any Certificate under the Act, that would render the disposition of any Certificate a violation of Section 5 of the Act or any state securities law, or that would require registration or qualification pursuant thereto. The Purchaser will not sell or otherwise transfer any of the Certificates, except in compliance with the provisions of the Pooling and Servicing Agreement.
 
 
Very truly yours,
 
_____________________________
(Purchaser)
   
 
By: __________________________
 
Name: ________________________
 
Title: _________________________


G-1-2



EXHIBIT G-2
 
FORM OF TRANSFEROR REPRESENTATION LETTER
 
______________, 200___            
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, California 92612
 
DB Services Tennessee
648 Grassmere Park Rd.
Nashville, TN 37211
Attn: Transfer Unit
 
 
Re:
Impac Secured Assets Corp.
Mortgage Pass-Through Certificates, Series 2007-3, Class [_] Certificates
 
Ladies and Gentlemen:
 
In connection with the sale by ___________ (the “Seller”) to ________ (the “Purchaser”) of $_________ Initial Certificate Principal Balance of Mortgage Pass-Through Certificates, Series 2007-3, Class _____ (the “Certificates”), issued pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Secured Assets Corp., as depositor (the “Company”), Impac Funding Corporation, as master servicer, and Deutsche Bank National Trust Company, as trustee (the “Trustee”). The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that:
 
Neither the Seller nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) has solicited any offer to buy or to accept a pledge, disposition or other transfer of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) has otherwise approached or negotiated with respect to any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) has made any general solicitation by means of general advertising or in any other manner, or (e) has taken any other action, that (as to any of (a) through (e) above) would constitute a distribution of the Certificates under the Securities Act of 1933 (the “Act”), that would render the disposition of any Certificate a violation of Section 5 of the Act or any state securities law, or that would require registration or qualification pursuant thereto. The Seller will not act in any manner set forth in the foregoing sentence with respect to any Certificate. The Seller has not and will not sell or otherwise transfer any of the Certificates, except in compliance with the provisions of the Pooling and Servicing Agreement.
 

G-2-1



 
Very truly yours,
 
_____________________
(Seller)
   
 
By: _____________________
 
Name: ___________________
 
Title: _____________________


G-2-2



EXHIBIT G-3
 
FORM OF RULE 144A INVESTMENT REPRESENTATION
 
Description of Rule 144A Securities, including numbers:
 
Impac Secured Assets Corp.
 
Mortgage Pass-Through Certificates
 
Series 2007-3, Class ____, No. ____
 
The undersigned seller, as registered holder (the “Transferor”), intends to transfer the Rule 144A Securities described above to the undersigned buyer (the “Buyer”).
 
1. In connection with such transfer and in accordance with the agreements pursuant to which the Rule 144A Securities were issued, the Transferor hereby certifies the following facts: Neither the Transferor nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Rule 144A Securities, or otherwise approached or negotiated with respect to the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security with, any person in any manner, or made any general solicitation by means of general advertising or in any other manner, or taken any other action, which would constitute a distribution of the Rule 144A Securities under the Securities Act of 1933, as amended (the “1933 Act”), or which would render the disposition of the Rule 144A Securities a violation of Section 5 of the 1933 Act or require registration pursuant thereto, and that the Transferor has not offered the Rule 144A Securities to any person other than the Buyer or another “qualified institutional buyer” as defined in Rule 144A under the 1933 Act.
 
2. The Buyer warrants and represents to, and covenants with, the Transferor, the Trustee, the Master Servicer and the Depositor pursuant to Section 5.02 of the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Secured Assets Corp., as depositor (the “Depositor”), Impac Funding Corporation, as master servicer (the “Master Servicer”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”), as follows:
 
a. The Buyer understands that the Rule 144A Securities have not been registered under the 1933 Act or the securities laws of any state.
 
b. The Buyer considers itself a substantial, sophisticated institutional investor having such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of investment in the Rule 144A Securities.
 

G-3-1



 
c. The Buyer has been furnished with all information regarding the Rule 144A Securities that it has requested from the Transferor, the Trustee or the Master Servicer.
 
d. Neither the Buyer nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security from, or otherwise approached or negotiated with respect to the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security with, any person in any manner, or made any general solicitation by means of general advertising or in any other manner, or taken any other action, that would constitute a distribution of the Rule 144A Securities under the 1933 Act or that would render the disposition of the Rule 144A Securities a violation of Section 5 of the 1933 Act or require registration pursuant thereto, nor will it act, nor has it authorized or will it authorize any person to act, in such manner with respect to the Rule 144A Securities.
 
e. The Buyer is a “qualified institutional buyer” as that term is defined in Rule 144 under the 1933 Act and has completed either of the forms of certification to that effect attached hereto as Annex 1 or Annex 2. The Buyer is aware that the sale to it is being made in reliance on Rule 144A. The Buyer is acquiring the Rule 144A Securities for its own account or the account of other qualified institutional buyers, understands that such Rule 144 Securities may be resold, pledged or transferred only (i) to a person reasonably believed to be a qualified institutional buyer that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, or (ii) pursuant to another exemption from registration under the 1933 Act.
 
3. The Buyer warrants and represents to, and covenants with, the Transferor, the Master Servicer and the Depositor that either (1) the Buyer is not an employee benefit plan within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) (“Plan”), or a plan within the meaning of Section 4975(e)(1) of the Internal Revenue Code of 1986 (the “Code”) (also a “Plan”), and the Buyer is not directly or indirectly purchasing the Rule 144A Securities on behalf of, as investment manager of, as named fiduciary of, as trustee of, or with assets of a Plan, or (2) the Buyer has provided the Trustee with the opinion letter required by section 5.02(c) of the Pooling and Servicing Agreement.
 
4. This document may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed to be an original; such counterparts, together, shall constitute one and the same document.
 


G-3-2



IN WITNESS WHEREOF, each of the parties has executed this document as of the date set forth below.
 

________________________________
Print Name of Transferor
________________________________
Print Name of Buyer
   
   
   
By: ________________________________
 
Name:
 
Title:
By: ________________________________
Name:
Title:
   
   
Taxpayer Identification:
 
 
No. ________________________________
 
 
Date:     
Taxpayer Identification:
 
 
No. ________________________________
 
 
Date:     



G-3-3



ANNEX 1 TO EXHIBIT G-3
 
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
 
[For Buyers Other Than Registered Investment Companies]
 
 
The undersigned hereby certifies as follows in connection with the Rule 144A Investment Representation to which this Certification is attached:
 
1. As indicated below, the undersigned is the President, Chief Financial Officer, Senior Vice President or other executive officer of the Buyer.
 
2. In connection with purchases by the Buyer, the Buyer is a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act of 1933 (“Rule 144A”) because (i) the Buyer owned and/or invested on a discretionary basis $____________________1 in securities (except for the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A) and (ii) the Buyer satisfies the criteria in the category marked below.
 
____
Corporation, etc. The Buyer is a corporation (other than a bank, savings and loan association or similar institution), Massachusetts or similar business trust, partnership, or charitable organization described in Section 501(c)(3) of the Internal Revenue Code.
 
____
Bank. The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statement, a copy of which is attached hereto.
 
____
Savings and Loan. The Buyer (a) is a savings and loan association, building and loan association, cooperative bank, homestead association or similar institution, which is supervised and examined by a State or Federal authority having supervision over any such institutions or is a foreign savings and loan association or equivalent institution and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements.
 
____
Broker-dealer. The Buyer is a dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934.
 
_____________________
1    Buyer must own and/or invest on a discretionary basis at least $100,000,000 in securities unless Buyer is a dealer, and, in that case, Buyer must own and/or invest on a discretionary basis at least $10,000,000 in securities.

G-3-4

 
____
Insurance Company. The Buyer is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State, territory or the District of Columbia.
 
____
State or Local Plan. The Buyer is a plan established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees.
 
____
ERISA Plan. The Buyer is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974.
 
____
Investment Adviser. The Buyer is an investment adviser registered under the Investment Advisers Act of 1940.
 
____
SBIC. The Buyer is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.
 
____
Business Development Company. The Buyer is a business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
 
____
Trust Fund. The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans.
 
3. The term “securities” as used herein does not include (i) securities of issuers that are affiliated with the Buyer, (ii) securities that are part of an unsold allotment to or subscription by the Buyer, if the Buyer is a dealer, (iii) bank deposit notes and certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps.
 
4. For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by the Buyer, the Buyer used the cost of such securities to the Buyer and did not include any of the securities referred to in the preceding paragraph. Further, in determining such aggregate amount, the Buyer may have included securities owned by subsidiaries of the Buyer, but only if such subsidiaries are consolidated with the Buyer in its financial statements prepared in accordance with generally accepted accounting principles and if the investments of such subsidiaries are managed under the Buyer's direction. However, such securities were not included if the Buyer is a majority-owned, consolidated subsidiary of another enterprise and the Buyer is not itself a reporting company under the Securities Exchange Act of 1934.
 

G-3-5



 
5. The Buyer acknowledges that it is familiar with Rule 144A and understands that the seller to it and other parties related to the Certificates are relying and will continue to rely on the statements made herein because one or more sales to the Buyer may be in reliance on Rule 144A.
 
___
___
 
Will the Buyer be purchasing the Rule 144A
Yes
No
 
Securities only for the Buyer's own account?
 
6. If the answer to the foregoing question is “no”, the Buyer agrees that, in connection with any purchase of securities sold to the Buyer for the account of a third party (including any separate account) in reliance on Rule 144A, the Buyer will only purchase for the account of a third party that at the time is a “qualified institutional buyer” within the meaning of Rule 144A. In addition, the Buyer agrees that the Buyer will not purchase securities for a third party unless the Buyer has obtained a current representation letter from such third party or taken other appropriate steps contemplated by Rule 144A to conclude that such third party independently meets the definition of “qualified institutional buyer” set forth in Rule 144A.
 
7. The Buyer will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice is given, the Buyer's purchase of Rule 144A Securities will constitute a reaffirmation of this certification as of the date of such purchase.
 

 
________________________________
Print Name of Buyer
   
   
 
By: ________________________________
Name:
Title:
 
Date: ________________________________

 

G-3-6


ANNEX 2 TO EXHIBIT G-3
 
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
 
[For Buyers That Are Registered Investment Companies]
 
The undersigned hereby certifies as follows in connection with the Rule 144A Investment Representation to which this Certification is attached:
 
1. As indicated below, the undersigned is the President, Chief Financial Officer or Senior Vice President of the Buyer or, if the Buyer is a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act of 1933 (“Rule 144A”) because Buyer is part of a Family of Investment Companies (as defined below), is such an officer of the Adviser.
 
2. In connection with purchases by Buyer, the Buyer is a “qualified institutional buyer” as defined in SEC Rule 144A because (i) the Buyer is an investment company registered under the Investment Company Act of 1940, and (ii) as marked below, the Buyer alone, or the Buyer's Family of Investment Companies, owned at least $100,000,000 in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year. For purposes of determining the amount of securities owned by the Buyer or the Buyer's Family of Investment Companies, the cost of such securities was used.
 
____
The Buyer owned $_______________ in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A).
 
____
The Buyer is part of a Family of Investment Companies which owned in the aggregate $____________ in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A).
 
3. The term “Family of Investment Companies” as used herein means two or more registered investment companies (or series thereof) that have the same investment adviser or investment advisers that are affiliated (by virtue of being majority owned subsidiaries of the same parent or because one investment adviser is a majority owned subsidiary of the other).
 
4. The term “securities” as used herein does not include (i) securities of issuers that are affiliated with the Buyer or are part of the Buyer's Family of Investment Companies, (ii) bank deposit notes and certificates of deposit, (iii) loan participations, (iv) repurchase agreements, (v) securities owned but subject to a repurchase agreement and (vi) currency, interest rate and commodity swaps.
 
5. The Buyer is familiar with Rule 144A and understands that each of the parties to which this certification is made are relying and will continue to rely on the statements made herein because one or more sales to the Buyer will be in reliance on Rule 144A. In addition, the Buyer will only purchase for the Buyer's own account.
 

G-3-7



 
6. The undersigned will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice, the Buyer's purchase of Rule 144A Securities will constitute a reaffirmation of this certification by the undersigned as of the date of such purchase.
 
 
________________________________
Print Name of Buyer
   
   
 
By: ________________________________
Name:
Title:
   
   
 
IF AN ADVISER:
   
 
________________________________
Print Name of Buyer
   
   
 
Date: ________________________________



G-3-8



EXHIBIT G-4
 
FORM OF TRANSFEROR CERTIFICATE
 
______________, 200__                
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, California 92612
 
DB Services Tennessee
648 Grassmere Park Rd.
Nashville, TN 37211
Attn: Transfer Unit
 
 
Re:
Impac Secured Assets Corp.
Mortgage Pass-Through Certificates Series 2007-3, Class R Certificates
 
Ladies and Gentlemen:
 
This letter is delivered to you in connection with the sale by ____________ (the “Seller”) to _______________ (the “Purchaser”) of a ____% Percentage Interest in the Mortgage Pass-Through Certificates, Series 2007-3, Class R Certificates (the “Certificates”), issued pursuant to Section 5.02 of the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Secured Assets Corp., as depositor (the “Company”), Impac Funding Corporation, as master servicer (the “Master Servicer”), and Deutsche Bank National Trust Company, as trustee (the “Trustee”). All terms used herein and not otherwise defined shall have the meaning set forth in the Pooling and Servicing Agreement. The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that:
 
1. No purpose of the Seller relating to the sale of the Certificates by the Seller to the Purchaser is or will be to impede the assessment or collection of any tax.
 
2. The Seller understands that the Purchaser has delivered to the Trustee and the Company a transfer affidavit and agreement in the form attached to the Pooling and Servicing Agreement as Exhibit G-5. The Seller does not know or believe that any representation contained therein is false.
 
3. The Seller has at the time of the transfer conducted a reasonable investigation of the financial condition of the Purchaser as contemplated by Treasury Regulations Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Seller has determined that the Purchaser has historically paid its debts as they have become due and has found no significant evidence to indicate that the Purchaser will not continue to pay its debts as they become due in the future. The Seller understands that the transfer of the Certificates may not be respected for United States income tax purposes (and the Seller may continue to be liable for United States income taxes associated therewith) unless the Seller has conducted such an investigation.
 

G-4-1



 
4. The Seller has no actual knowledge that the proposed Transferee is not a Permitted Transferee.
 

 
Very truly yours,
 
________________________________
(Seller)
   
   
 
By: ________________________________
 
Name________________________________
 
Title: ________________________________



G-4-2



EXHIBIT G-5
 
FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
 
STATE OF
)
 
:ss.
COUNTY OF
)
 
___________________, being first duly sworn, deposes, represents and warrants:
 
1. That he/she is [Title of Officer] of [Name of Owner], a [savings institution] [corporation] duly organized and existing under the laws of [the State of __________] [the United States], (the “Investor”), (record or beneficial owner of the Class R Certificates (the “Certificates”) on behalf of which he/she makes this affidavit and agreement). This Class R Certificates were issued pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Agreement”), among Impac Secured Assets Corp., as depositor (the “Depositor”), Impac Funding Corporation, as master servicer (the “Master Servicer”), and Deutsche Bank National Trust Company, as trustee (the “Trustee”).
 
1. The Investor is, as of the date hereof, and will be, as of the date of the Transfer, a Permitted Transferee. The Investor is not acquiring its Ownership Interest in the Certificates for the account of a Person other than a Permitted Transferee.
 
2. The Investor has been advised and understands that (i) a tax will be imposed on Transfers of the Certificates to Persons that are not Permitted Transferees; (ii) such tax will be imposed on the Transferor, or, if such Transfer is through an agent (which includes a broker, nominee or middleman) for a Person that is not a Permitted Transferee, on the agent; and (iii) the Person otherwise liable for the tax shall be relieved of liability for the tax if a subsequent transferee furnishes to such Person an affidavit that such subsequent transferee is a Permitted Transferee, and at the time of Transfer, such Person does not have actual knowledge that the affidavit is false.
 
3. The Investor has been advised and understands that a tax will be imposed on a “pass-through entity” holding the Certificates if at any time during the taxable year of the pass-through entity a Person that is not a Permitted Transferee is the record holder of an interest in such entity. The Investor understands that such tax will not be imposed for any period with respect to which the record holder furnishes to the pass-through entity an affidavit that such record holder is a Permitted Transferee and the pass-through entity does not have actual knowledge that such affidavit is false. (For this purpose, a “pass-through entity” includes a regulated investment company, a real estate investment trust or common trust fund, a partnership, trust or estate, and certain cooperatives and, except as may be provided in Treasury regulations, Persons holding interests in pass-through entities as a nominee for another Person.)
 
4. The Investor has reviewed the provisions of Section 5.02(e) of the Agreement and understands the legal consequences of the acquisition of an Ownership Interest in the Certificates, including, without limitation, the restrictions on subsequent Transfers and the provisions regarding voiding any prohibited Transfers and mandatory sales. The Investor expressly agrees to be bound by, and to abide by, such provisions of the Agreement and the restrictions noted on the face of the Certificates. The Investor understands and agrees that any breach of any of the representations included herein shall render the Transfer of the Certificates to the Investor contemplated hereby null and void. The Investor consents to any amendment of the Agreement that shall be deemed necessary by the Depositor (upon advice of nationally recognized counsel) to constitute a reasonable arrangement to ensure that the Certificate will not be owned directly or indirectly by a Person other than a Permitted Transferee.

G-5-1

 
5. The Investor agrees not to Transfer the Certificates, or cause the Transfer of the Certificates by a Person for whom the Investor is acting as nominee, trustee or agent, in each case unless (i) it has received an affidavit in substantially the same form as this affidavit containing these same representations and covenants from the subsequent transferee. In connection with any such Transfer by the Investor, the Investor agrees to deliver to the Trustee a certificate substantially in the form set forth as Exhibit G-4 to the Agreement to the effect that the Investor has no actual knowledge that the Person to which the Transfer is to be made is not a Permitted Transferee.
 
6. The Investor has historically paid its debts as they have come due, intends to pay its debts as they come due in the future, and understands that the taxes associated with holder an Ownership Interest in the Certificates may exceed the cash flow with respect thereto in some or all periods and intends to pay such taxes as they become due. The Investor does not have the intention, and no purpose of the Transfer of the Certificates to the Investor is, to impede the assessment or collection of any tax legally required to be paid with respect to the Certificates.
 
7. The Investor’s U.S. taxpayer identification number is [_____________].
 
8. The Investor is a United States Person.
 
9. The Investor is aware that the Certificates may be a “noneconomic residual interest” within the meaning of Treasury regulations promulgated under Section 860E of the Code and that the transferor of a noneconomic residual interest will remain liable for any taxes due with respect to the income on such residual interest, unless no significant purpose of the transfer was to impede the assessment or collection of tax.
 
10. The Investor will not cause income from the Certificates to be attributable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the Investor or any other United States Person.
 
11. Check one of the following:
 
o   The Transfer of the Certificates complies with U.S. Treasury Regulation Sections 1.860E-1(c)(7) and (8) and, accordingly:
 
(i) the present value of the anticipated tax liabilities associated with holding the Certificates does not exceed the sum of:

G-5-2


 
 
(a)
the present value of any consideration given to the Investor to acquire such Certificates;
 
 
(b)
the present value of the expected future distributions on such Certificates; and
 
 
(c)
the present value of the anticipated tax savings associated with holding such Certificates as the related REMIC generates losses; and
 
(ii) the Transfer of the Certificates will not result in such Certificates being held, directly or indirectly, by a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the Investor or any other United States Person.
 
For purposes of the calculation in clause (i) above, (x) the Investor is assumed to pay tax at the highest rate currently specified in Section 11(b)(1) of the Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section 11(b)(1) of the Code if the Investor has been subject to the alternative minimum tax under Section 55 of the Code in the preceding two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (y) present values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the month of the transfer and the compounding period used by the Investor.
 
o   The Transfer of the Certificates complies with U.S. Treasury Regulation Sections 1.860E-1(c)(5) and (6) and, accordingly:
 
 
(i)
the Investor is an “eligible corporation,” as defined in U.S. Treasury Regulation Section 1.860E-1(c)(6)(i), as to which income from the Certificates will only be taxed in the United States;
 
 
(ii)
at the time of the Transfer, and at the close of the Investor’s two fiscal years preceding the fiscal year of the transfer, the Investor had gross assets for financial reporting purposes (excluding any obligation of a “related person” to the Investor within the meaning of U.S. Treasury Regulation Section 1.860E-1(c)(6)(ii) and any other asset the principal purpose of which is to permit the Investor to satisfy the condition of this clause (ii)) in excess of $100 million and net assets in excess of $10 million;
 
 
(iii)
the Investor will transfer the Certificates only to another “eligible corporation,” as defined in U.S. Treasury Regulation Section 1.860E-1(c)(6)(i), in a transaction in which the requirements of U.S. Treasury Regulation Sections 1.860E-1(c)(4)(i), (ii) and (iii) and -1(c)(5) are satisfied and, accordingly, the subsequent transferee provides a similar affidavit with this box checked; and
 
 
(iv)
the Investor determined the consideration paid to it to acquire the Certificates based on reasonable market assumptions (including, but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax rates and other factors specific to the Investor) that it has determined in good faith and has concluded that such consideration, together with other assets of the Investor, will be sufficient to cover the taxes associated with the Certificates.

G-5-3


 

 
o   None of the above.

 
11. (a) The Certificates (i) are not being acquired by, and will not be transferred to, any employee benefit plan within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or other retirement arrangement, including individual retirement accounts and annuities, Keogh plans and bank collective investment funds and insurance company general or separate accounts in which such plans, accounts or arrangements are invested, that is subject to ERISA or Section 4975 of the Code (any of the foregoing, a “Plan”), (ii) are not being acquired with “plan assets” of a Plan within the meaning of the Department of Labor (“DOL”) regulation, 29 C.F.R. § 2510.3-101 or otherwise under ERISA, and (iii) will not be transferred to any entity that is deemed to be investing in plan assets within the meaning of the DOL regulation, 29 C.F.R. § 2510.3-101 or otherwise under ERISA; or
 
(b) The Investor will provide the Trustee with an opinion of counsel, as specified in Section 5.02(c) of the Agreement, acceptable to and in form and substance satisfactory to the Trustee to the effect that the purchase of Certificates is permissible under applicable law, will not constitute or result in any non-exempt prohibited transaction under ERISA or Section 4975 of the Code and will not subject the Trustee, the Depositor or the Master Servicer to any obligation or liability (including obligations or liabilities under ERISA or Section 4975 of the Code) in addition to those undertaken in the Agreement.
 
In addition, the Investor hereby certifies, represents and warrants to, and covenants with, the Depositor, the Trustee and the Master Servicer that the Investor will not transfer such Certificates to any Plan or person unless either such Plan or person meets the requirements set forth in either (a) or (b) above.
 

G-5-4


IN WITNESS WHEREOF, the Investor has caused this instrument to be executed on its behalf, by its [Title of Officer] and its corporate seal to be hereunto attached, attested by its [Assistant] Secretary, this ______ day of _____________, _____.
 

 
 
________________________________ 
           [NAME OF INVESTOR]
 
 
 
 
By: ________________________________
[Name of Officer]
[Title of Officer]
   
[Corporate Seal]
 
 
ATTEST:
 
 
 
________________________________
[Assistant] Secretary
 

 

G-5-5


FORM OF TRANSFEROR AFFIDAVIT
 
STATE OF NEW YORK
)
 
 
)
ss.:
COUNTY OF NEW YORK
)
 
 
The undersigned is the [Title of Officer] of [Name of Transferor] (the “Owner”), the proposed transferor of an Ownership Interest in the Impac Secured Assets Corp., Mortgage pass-through Certificates, Series 2007-3, Class R Certificate (the “Certificate”) issued pursuant to the Pooling and Servicing Agreement (the “Agreement”) relating to the Certificate, dated as of [ ], 2007, among [ ], as depositor (the “Depositor”), [ ], as master servicer (“the Master Servicer”) and [ ], as trustee (the “Trustee”), and makes this affidavit on behalf of the Owner for the benefit of the Depositor and the Trustee. Capitalized terms used, but not defined herein, shall have the meanings ascribed to such terms in the Agreement.
 
1.  The Owner is not transferring the Certificate to impede the assessment or collection of any tax.
 
2.  The Owner has no actual knowledge that the proposed Transferee of the Certificate: (i) has insufficient assets to pay any taxes that would be owed by such Transferee as Holder of the Certificate; (ii) may become insolvent or subject to a bankruptcy proceeding for so long as the Certificate remains outstanding; and (iii) is not a Permitted Transferee.
 
3.  The Owner understands that the proposed Transferee has delivered to the Trustee a transfer affidavit and agreement in the form attached to the Pooling and Servicing Agreement as Exhibit F-2. The Owner does not know or believe that any representation contained therein is false.
 
4.  At the time of transfer, the Owner has conducted a reasonable investigation of the financial condition of the proposed Transferee as contemplated by Treasury Regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Owner has determined that the proposed Transferee has historically paid its debts as they became due and has found no significant evidence to indicate that the proposed Transferee will not continue to pay its debts as they become due in the future. The Owner understands that the transfer of the Certificate may not be respected for U.S. federal income tax purposes (and the Owner may continue to be liable for U.S. federal income taxes associated therewith) unless the Owner has conducted such an investigation.
 

G-5-6


IN WITNESS WHEREOF, the Investor has caused this instrument to be executed on its behalf, pursuant to authority of its Board of Directors, by its [Title of Officer] this ____ day of _________, 20__.
 
           
[NAME OF OWNER]
                         
                         
           
By:
 
           
Name:
[Name of Officer]
           
Title:
[Title of Officer]


 
Personally appeared before me the above-named [Name of Officer], known or proved to me to be the same person who executed the foregoing instrument and to be the [Title of Officer] of the Owner, and acknowledged to me that he/she executed the same as his/her free act and deed and the free act and deed of the Owner.
 
Subscribed and sworn before me this ___ day of _________, 20___.
 
NOTARY PUBLIC
 
COUNTY OF
 
STATE OF
 
My commission expires the ___ day of ___________________, 20___.


G-5-7



EXHIBIT H
 
MORTGAGE LOAN SCHEDULE
 
         LOAN_ID   CITY1                                             ZIP_CODE    STATE                    FIRST_PAY_DATE            MATURITY_DATE   AM_TYPE                 BALLOON                        STATED_ORIGINAL_TERM            AMORT_TERM1              STATED_REM_TERM               ORIGINAL_BALANCE                CURRENT_BALANCE   LIEN                              SR_LIEN_BALANCE            TOTAL_BAL              JR_LIEN_BALANCE            SALES_PRICE           APPRAISAL            LOAN_TO_VALUE           COMBO_LTV   MI                        MTG_INS                 MI_PCT                     CURRENT_GROSS_COUPON          SERV_FEE        MSERV      LPMI          TOTAL_STRIP
      1103143549   SAN DIMAS                                            91733    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           280,000.00                         0.00                      -          400,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103445953   SHORT HILLS                                          07078    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     800,000.00                     800,000.00   First Lien                                      0         1,000,000.00                   200,000.00                      -        1,000,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103541312   IRVINE                                               92620    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     213,500.00                     213,500.00   First Lien                                      0           213,500.00                         0.00                      -          305,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103581621   LA PUENTE                                            91744    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           416,500.00                    24,500.00                 490000              495000                    80.00               85.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103605926   LAKE WALES                                           33898    FL                             20070101                 20220401   FIXED                   Yes                                             180                    360                          176                      32,000.00                      31,974.17   Second Lien                                120000           152,000.00                         0.00                 160000              164000                    95.00               95.00   No MI                     NO MI                        0                                  13.6250            0.5000       0.0325    0.0000               0.5325
      1103611487   PEYTON                                               80831    CO                             20061101                 20211201   FIXED                   Yes                                             180                    360                          174                      47,671.00                      47,601.92   Second Lien                                178766           226,437.00                         0.00                 238355              239000                    95.00               95.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      1103611552   TUSTIN                                               92782    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     462,900.00                     462,900.00   First Lien                                      0           520,700.00                    57,800.00                 578655              579000                    80.00               89.99   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103612837   GREENSBORO                                           27406    NC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     227,500.00                     227,500.00   First Lien                                      0           227,500.00                         0.00                 252814              253000                    89.99               89.99   PMI                       BPMI                        25                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103612902   SIMPSONVILLE                                         29680    SC                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     146,800.00                     146,440.48   First Lien                                      0           174,325.00                    27,525.00                 186000              186000                    78.93               93.73   No MI                     NO MI                        0                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103613763   CLEMMONS                                             27012    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     228,200.00                     228,200.00   First Lien                                      0           228,200.00                         0.00                 240217              245000                    95.00               95.00   PMI                       BPMI                        30                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103615320   WESTMINSTER                                          92683    CA                             20061001                 20220401   FIXED                   Yes                                             180                    360                          173                     118,000.00                     117,780.60   Second Lien                                472000           590,000.00                         0.00                 590000              600000                   100.00              100.00   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      1103618814   LA PUENTE                                            91744    CA                             20061201                 20361101   FIXED                   No                                              360                    360                          355                      50,200.00                      50,130.70   Second Lien                                400000           450,200.00                         0.00                      -          502,000.00                    89.69               89.69   No MI                     NO MI                        0                                   12.250             0.500       0.0325     0.000               0.5325
      1103620173   LEHIGH ACRES                                         33972    FL                             20061201                 20220401   FIXED                   Yes                                             180                    360                          175                      51,050.00                      50,975.48   Second Lien                                191550           242,600.00                         0.00                 255400              256000                    94.99               94.99   No MI                     NO MI                        0                                  12.0000            0.5000       0.0325    0.0000               0.5325
      1103624061   CASTAIC                                              91384    CA                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      53,250.00                      53,176.45   Second Lien                                284000           337,250.00                         0.00                 355000              355000                    95.00               95.00   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      1103624733   ZIMMERMAN                                            55398    MN                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      65,625.00                      65,567.23   Second Lien                                183750           249,375.00                         0.00                 262500              270000                    95.00               95.00   No MI                     NO MI                        0                                  14.2500            0.5000       0.0325    0.0000               0.5325
      1103626197   BALTIMORE                                            21218    MD                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      33,000.00                      32,944.73   Second Lien                                169400           202,400.00                         0.00                      -          242,000.00                    83.64               83.64   No MI                     NO MI                        0                                   11.375             0.500       0.0325     0.000               0.5325
      1103627011   ORANGE                                               07050    NJ                             20070101                 20261201   FIXED                   No                                              240                    240                          236                      75,000.00                      74,717.88   Second Lien                                210000           285,000.00                         0.00                 300000              300000                    95.00               95.00   No MI                     NO MI                        0                                  12.6500            0.5000       0.0325    0.0000               0.5325
      1103632043   DORAL                                                33166    FL                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      66,475.00                      66,422.53   Second Lien                                186130           252,605.00                         0.00                 265900              266000                    95.00               95.00   No MI                     NO MI                        0                                  12.4250            0.5000       0.0325    0.0000               0.5325
      1103632215   FREDERICKSBURG                                       22407    VA                             20061201                 20361101   FIXED                   No                                              360                    360                          355                      74,400.00                      74,256.44   Second Lien                                173600           248,000.00                         0.00                 248000              300000                   100.00              100.00   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      1103632233   SALT LAKE CITY                                       84106    UT                             20070101                 20220401   FIXED                   Yes                                             180                    360                          176                      30,750.00                      30,711.20   Second Lien                                153750           184,500.00                         0.00                      -          205,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.625             0.500       0.0325     0.000               0.5325
      1103632320   ROCKFORD                                             61107    IL                             20070101                 20211201   FIXED                   Yes                                             180                    360                          176                      37,000.00                      36,972.08   Second Lien                                103600           140,600.00                         0.00                      -          148,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.925             0.500       0.0325     0.000               0.5325
      1103632732   RAWLINS                                              82301    WY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     100,600.00                     100,474.51   First Lien                                      0           120,650.00                    20,050.00                      -          138,000.00                    72.90               87.43   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103632897   CORONA                                               92882    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     315,000.00                     315,000.00   First Lien                                      0           315,000.00                         0.00                      -          420,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103633116   DAVENPORT                                            33837    FL                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      40,000.00                      39,971.46   Second Lien                                150000           190,000.00                         0.00                 200000              200000                    95.00               95.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      1103633980   BALTIMORE                                            21206    MD                             20070101                 20220101   FIXED                   Yes                                             180                    360                          176                      36,975.00                      36,944.82   Second Lien                                103530           140,505.00                         0.00                 147900              147900                    95.00               95.00   No MI                     NO MI                        0                                  13.5750            0.5000       0.0325    0.0000               0.5325
      1103634228   COLORADO SPRINGS                                     80916    CO                             20070101                 20211201   FIXED                   Yes                                             180                    360                          176                      41,862.00                      41,828.02   Second Lien                                117215           159,077.00                         0.00                 167450              171000                    95.00               95.00   No MI                     NO MI                        0                                  13.6000            0.5000       0.0325    0.0000               0.5325
      1103634326   PASSAIC                                              07055    NJ                             20070201                 20220101   FIXED                   No                                              180                    180                          177                      43,350.00                      43,140.56   Second Lien                                231200           274,550.00                         0.00                 289000              300000                    95.00               95.00   No MI                     NO MI                        0                                  14.3750            0.5000       0.0325    0.0000               0.5325
      1103634352   ANAHEIM                                              92804    CA                             20070101                 20211201   FIXED                   No                                              180                    180                          176                     127,000.00                     127,000.00   Second Lien                                508000           635,000.00                         0.00                      -          635,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.550             0.500       0.0325     0.000               0.5325
      1103635040   WEST HARRISON                                        10604    NY                             20061201                 20211201   FIXED                   Yes                                             180                    360                          175                     106,600.00                     106,047.43   Second Lien                                569050           675,650.00                         0.00                 711341              713500                    94.99               94.99   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      1103635229   NORWALK                                              90650    CA                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                     109,600.00                     108,913.54   Second Lien                                438400           548,000.00                         0.00                 548000              550000                   100.00              100.00   No MI                     NO MI                        0                                   9.2500            0.5000       0.0325    0.0000               0.5325
      1103635362   BALTIMORE                                            21215    MD                             20070101                 20211101   FIXED                   Yes                                             180                    360                          176                      26,000.00                      25,973.26   Second Lien                                 97500           123,500.00                         0.00                 130000              130000                    95.00               95.00   No MI                     NO MI                        0                                  12.5500            0.5000       0.0325    0.0000               0.5325
      1103635710   DENVER                                               80221    CO                             20070201                 20211201   FIXED                   Yes                                             180                    360                          177                      64,000.00                      63,963.61   Second Lien                                240000           304,000.00                         0.00                      -          320,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.875             0.500       0.0325     0.000               0.5325
      1103636278   EVANS                                                80620    CO                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      33,800.00                      33,787.03   Second Lien                                126750           160,550.00                         0.00                 169000              169000                    95.00               95.00   No MI                     NO MI                        0                                  13.8000            0.5000       0.0325    0.0000               0.5325
      1103636476   HASTINGS                                             55033    MN                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                     100,050.00                      99,976.59   Second Lien                                195650           295,700.00                         0.00                 311300              317000                    94.99               94.99   No MI                     NO MI                        0                                  12.7500            0.5000       0.0325    0.0000               0.5325
      1103637015   LAS VEGAS                                            89107    NV                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      45,000.00                      44,972.98   Second Lien                                168750           213,750.00                         0.00                 225000              225000                    95.00               95.00   No MI                     NO MI                        0                                  13.7500            0.5000       0.0325    0.0000               0.5325
      1103637096   PEWAUKEE                                             53072    WI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     368,000.00                     368,000.00   First Lien                                      0           460,000.00                    92,000.00                      -          460,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103638302   LOS ANGELES                                          90037    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      65,000.00                      64,963.85   Second Lien                                182000           247,000.00                         0.00                 260000              415000                    95.00               95.00   No MI                     NO MI                        0                                  13.9750            0.5000       0.0325    0.0000               0.5325
      1103638697   AURORA                                               80013    CO                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      51,750.00                      51,723.74   Second Lien                                144900           196,650.00                         0.00                 207000              207000                    95.00               95.00   No MI                     NO MI                        0                                  14.3750            0.5000       0.0325    0.0000               0.5325
      1103638853   BLUE SPRINGS                                         64015    MO                             20070101                 20220101   FIXED                   Yes                                             180                    360                          176                      40,000.00                      39,948.11   Second Lien                                112000           152,000.00                         0.00                 160000              160000                    95.00               95.00   No MI                     NO MI                        0                                  11.5000            0.5000       0.0325    0.0000               0.5325
      1103638909   DENVER                                               80221    CO                             20070201                 20211201   FIXED                   Yes                                             180                    360                          177                      26,250.00                      26,250.00   Second Lien                                 73500            99,750.00                         0.00                 105000              122000                    95.00               95.00   No MI                     NO MI                        0                                  13.6250            0.5000       0.0325    0.0000               0.5325
      1103638943   LAS VEGAS                                            89123    NV                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                     106,168.00                     106,121.87   Second Lien                                297270           403,438.00                         0.00                 424672              480000                    95.00               95.00   No MI                     NO MI                        0                                  13.2500            0.5000       0.0325    0.0000               0.5325
      1103638971   GARDEN GROVE                                         92843    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     420,000.00                     419,140.29   First Lien                                      0           420,000.00                         0.00                      -          550,000.00                    76.37               76.37   No MI                     NO MI                        0                                    7.950             0.375       0.0325     0.000               0.4075
      1103639013   DANA POINT                                           92629    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     141,800.00                     141,695.40   Second Lien                                496300           638,100.00                         0.00                      -          709,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.725             0.500       0.0325     0.000               0.5325
      1103639110   ALTAMONTE SPRINGS                                    32714    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     123,000.00                     123,000.00   First Lien                                      0           153,900.00                    30,900.00                 153900              157000                    79.93              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103639385   LONG BEACH                                           90813    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      86,000.00                      85,923.35   Second Lien                                344000           430,000.00                         0.00                      -          430,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.875             0.500       0.0325     0.000               0.5325
      1103639597   ABERDEEN                                             21001    MD                             20070101                 20220101   FIXED                   Yes                                             180                    360                          176                      25,500.00                      25,467.82   Second Lien                                191900           217,400.00                         0.00                      -          255,900.00                    84.96               84.96   No MI                     NO MI                        0                                   11.625             0.500       0.0325     0.000               0.5325
      1103639598   GAITHERSBURG                                         20879    MD                             20070101                 20211201   FIXED                   Yes                                             180                    360                          176                      59,750.00                      59,660.95   Second Lien                                202500           262,250.00                         0.00                      -          275,000.00                    95.37               95.37   No MI                     NO MI                        0                                   12.990             0.500       0.0325     0.000               0.5325
      1103639786   SMITHFIELD                                           23430    VA                             20070101                 20211201   FIXED                   Yes                                             180                    360                          176                     123,750.00                     123,617.70   Second Lien                                371250           495,000.00                         0.00                      -          495,000.00                   100.00              100.00   No MI                     NO MI                        0                                   12.375             0.500       0.0325     0.000               0.5325
      1103639789   WALDORF                                              20601    MD                             20061201                 20211201   FIXED                   Yes                                             180                    360                          175                      52,000.00                      51,939.10   Second Lien                                208000           260,000.00                         0.00                 260000              300000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      1103639790   DUMFRIES                                             22026    VA                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      63,800.00                      63,725.29   Second Lien                                255200           319,000.00                         0.00                 319000              340000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      1103639791   ALEXANDRIA                                           22310    VA                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      88,000.00                      87,896.94   Second Lien                                352000           440,000.00                         0.00                 440000              469000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      1103639792   SUFFOLK                                              23435    VA                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      44,000.00                      43,923.91   Second Lien                                176000           220,000.00                         0.00                 220000              220000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      1103639793   BALTIMORE                                            21237    MD                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      33,700.00                      33,650.09   Second Lien                                169500           203,200.00                         0.00                      -          226,000.00                    89.92               89.92   No MI                     NO MI                        0                                   12.000             0.500       0.0325     0.000               0.5325
      1103639848   BROOKLYN CENTER                                      55430    MN                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     124,124.00                     124,116.84   First Lien                                      0           168,454.00                    44,330.00                 177320              230000                    70.00               95.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103639907   TAKOMA PARK                                          20912    MD                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      80,000.00                      79,933.26   Second Lien                                224000           304,000.00                         0.00                 320000              320000                    95.00               95.00   No MI                     NO MI                        0                                  12.1750            0.5000       0.0325    0.0000               0.5325
      1103640641   DALLAS                                               75201    TX                             20070118                 20220101   FIXED                   Yes                                             180                    360                          176                     115,000.00                     114,820.25   Second Lien                                322000           437,000.00                         0.00                 460000              460000                    95.00               95.00   No MI                     NO MI                        0                                  12.9000            0.5000       0.0325    0.0000               0.5325
      1103640736   LODI                                                 95242    CA                             20070201                 20211201   FIXED                   Yes                                             180                    360                          177                     108,750.00                     108,652.53   Second Lien                                304500           413,250.00                         0.00                      -          435,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.850             0.500       0.0325     0.000               0.5325
      1103640941   COLORADO SPRINGS                                     80918    CO                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      65,000.00                      64,966.08   Second Lien                                182000           247,000.00                         0.00                 260000              264000                    95.00               95.00   No MI                     NO MI                        0                                  14.2500            0.5000       0.0325    0.0000               0.5325
      1103641203   YORBA LINDA                                          92886    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     520,000.00                     519,518.38   First Lien                                      0           520,000.00                         0.00                      -        1,125,000.00                    46.23               46.23   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103641208   ALISO VIEJO                                          92656    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      88,000.00                      87,894.17   Second Lien                                352000           440,000.00                         0.00                      -          440,000.00                   100.00              100.00   No MI                     NO MI                        0                                   10.500             0.500       0.0325     0.000               0.5325
      1103641222   CHULA VISTA                                          91911    CA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                     155,000.00                     154,849.13   Second Lien                                434000           589,000.00                         0.00                      -          620,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.475             0.500       0.0325     0.000               0.5325
      1103641481   PERRIS                                               92571    CA                             20070201                 20370101   FIXED                   No                                              360                    360                          357                      64,000.00                      63,938.04   Second Lien                                256000           320,000.00                         0.00                 320000              365000                   100.00              100.00   No MI                     NO MI                        0                                  11.5000            0.5000       0.0325    0.0000               0.5325
      1103641496   SAN PEDRO                                            90731    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     110,000.00                     109,912.28   Second Lien                                650000           760,000.00                         0.00                      -          980,000.00                    77.56               77.56   No MI                     NO MI                        0                                   12.375             0.500       0.0325     0.000               0.5325
      1103641545   OROVILLE                                             95966    CA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      44,000.00                      43,961.62   Second Lien                                154000           198,000.00                         0.00                      -          220,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.975             0.500       0.0325     0.000               0.5325
      1103641549   LAS VEGAS                                            89148    NV                             20070201                 20370101   FIXED                   No                                              360                    360                          357                      45,750.00                      45,750.00   Second Lien                                244000           289,750.00                         0.00                 305000              305000                    95.00               95.00   No MI                     NO MI                        0                                  12.9250            0.5000       0.0325    0.0000               0.5325
      1103641582   SAN JOSE                                             95136    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     549,000.00                     549,000.00   First Lien                                      0           624,100.00                    75,100.00                      -          732,000.00                    75.00               85.26   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103641703   KISSIMMEE                                            34741    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      42,000.00                      41,975.91   Second Lien                                157500           199,500.00                         0.00                 210000              230000                    95.00               95.00   No MI                     NO MI                        0                                  12.1250            0.5000       0.0325    0.0000               0.5325
      1103642086   CHINO HILLS                                          91709    CA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                     182,500.00                     182,369.83   Second Lien                                511000           693,500.00                         0.00                      -          730,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.875             0.500       0.0325     0.000               0.5325
      1103642187   PORT CHARLOTTE                                       33981    FL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      38,750.00                      38,716.94   Second Lien                                108500           147,250.00                         0.00                      -          155,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.075             0.500       0.0325     0.000               0.5325
      1103642251   MORENO VALLEY                                        92551    CA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      70,000.00                      69,999.71   Second Lien                                262500           332,500.00                         0.00                      -          350,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.875             0.500       0.0325     0.000               0.5325
      1103642335   LA QUINTA                                            92253    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     412,000.00                     412,000.00   First Lien                                      0           412,000.00                         0.00                 515000              550000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103642362   VIENNA                                               22180    VA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     107,000.00                     106,915.58   Second Lien                                401250           508,250.00                         0.00                 535000              545000                    95.00               95.00   No MI                     NO MI                        0                                  12.4250            0.5000       0.0325    0.0000               0.5325
      1103642496   RANDALLSTOWN                                         21133    MD                             20070201                 20220101   ARMS                    Yes                                             360                    480                          357                     125,500.00                     125,339.86   First Lien                                      0           125,500.00                         0.00                 244500              246000                    51.33               51.33   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103643071   PEMBROKE PINES                                       33025    FL                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      54,000.00                      53,958.11   Second Lien                                189000           243,000.00                         0.00                      -          270,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.500             0.500       0.0325     0.000               0.5325
      1103643089   ST PAUL                                              55449    MN                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      37,337.00                      37,309.90   Second Lien                                104545           141,882.00                         0.00                 149350              170000                    95.00               95.00   No MI                     NO MI                        0                                  12.8000            0.5000       0.0325    0.0000               0.5325
      1103643097   RIVERSIDE                                            92504    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     269,500.00                     269,500.00   First Lien                                      0           346,500.00                    77,000.00                      -          385,000.00                    70.00               90.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103643276   DAVENPORT                                            33837    FL                             20070201                 20370101   FIXED                   No                                              360                    360                          357                     245,000.00                     242,843.96   First Lien                                      0           245,000.00                         0.00                      -          350,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.125             0.250       0.0325     0.000               0.2825
      1103643299   LOMITA                                               90717    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      99,000.00                      98,943.06   Second Lien                                371250           470,250.00                         0.00                 495000              495000                    95.00               95.00   No MI                     NO MI                        0                                  12.0000            0.5000       0.0325    0.0000               0.5325
      1103643731   WESLEY CHAPEL                                        33543    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                 530000              550000                    62.27               62.27   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103643742   LOS ANGELES (PANORAMA CIT                            91402    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     335,000.00                     335,000.00   First Lien                                      0           335,000.00                         0.00                      -          550,000.00                    60.91               60.91   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103644291   BAKERSFIELD                                          93313    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      49,900.00                      49,854.27   Second Lien                                199600           249,500.00                         0.00                 249555              250000                    99.98               99.98   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      1103644308   CHULA VISTA                                          91913    CA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      78,750.00                      78,697.23   Second Lien                                220500           299,250.00                         0.00                 315000              315000                    95.00               95.00   No MI                     NO MI                        0                                  13.1500            0.5000       0.0325    0.0000               0.5325
      1103644382   RIO VISTA                                            94571    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     280,000.00                     279,371.09   First Lien                                      0           365,000.00                    85,000.00                      -          425,000.00                    65.89               85.89   No MI                     NO MI                        0                                    5.375             0.250       0.0325     0.000               0.2825
      1103644392   ARCADIA                                              91007    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     432,000.00                     431,580.12   First Lien                                      0           452,200.00                    20,200.00                      -          540,000.00                    80.00               83.75   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103644400   BAKERSFIELD                                          93304    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      46,250.00                      46,231.43   Second Lien                                129500           175,750.00                         0.00                 185000              193000                    95.00               95.00   No MI                     NO MI                        0                                  13.6000            0.5000       0.0325    0.0000               0.5325
      1103644465   KIHEI                                                96753    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     560,000.00                     560,000.00   First Lien                                      0           560,000.00                         0.00                      -          750,000.00                    74.67               74.67   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103644519   EARLIMART                                            93219    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      20,000.00                      20,000.00   Second Lien                                 83550           103,550.00                         0.00                 109000              122000                    95.00               95.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      1103644634   FONTANA                                              92335    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     232,000.00                     231,751.98   First Lien                                      0           232,000.00                         0.00                      -          380,000.00                    61.06               61.06   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103644724   SILVER SPRING                                        20904    MD                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     108,000.00                     107,976.66   Second Lien                                405000           513,000.00                         0.00                      -          540,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.250             0.500       0.0325     0.000               0.5325
      1103644816   SAN DIEGO                                            92127    CA                             20070201                 20220301   FIXED                   Yes                                             180                    360                          177                      57,750.00                      57,702.63   Second Lien                                308000           365,750.00                         0.00                 385000              400500                    95.00               95.00   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      1103644823   POUGHKEEPSIE                                         12601    NY                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      64,375.00                      64,343.50   Second Lien                                180250           244,625.00                         0.00                 257500              260000                    95.00               95.00   No MI                     NO MI                        0                                  12.7250            0.5000       0.0325    0.0000               0.5325
      1103644852   ANTELOPE                                             95843    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      72,250.00                      72,209.57   Second Lien                                202300           274,550.00                         0.00                      -          289,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.125             0.500       0.0325     0.000               0.5325
      1103644855   CHESAPEAKE                                           23321    VA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           600,000.00                   120,000.00                 600000              610000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.2500       0.0325    0.0000               0.2825
      1103644918   DALY CITY                                            94015    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     469,000.00                     469,000.00   First Lien                                      0           669,000.00                   200,000.00                 670000              670000                    70.00               99.86   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103644939   MIAMI                                                33127    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      64,000.00                      63,952.89   Second Lien                                256000           320,000.00                         0.00                 320000              323000                   100.00              100.00   No MI                     NO MI                        0                                  10.8750            0.5000       0.0325    0.0000               0.5325
      1103645004   BELL GARDENS                                         90201    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     112,350.00                     112,256.38   Second Lien                                599200           711,550.00                         0.00                 749000              749000                    95.00               95.00   No MI                     NO MI                        0                                  10.3000            0.5000       0.0325    0.0000               0.5325
      1103645207   PENSACOLA                                            32507    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     135,800.00                     135,728.15   Second Lien                                475500           611,300.00                         0.00                 679319              699000                    89.99               89.99   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      1103645261   HOUSTON                                              77057    TX                             20070301                 20220201   FIXED                   No                                              180                    180                          178                      60,000.00                      59,778.94   Second Lien                                320000           380,000.00                         0.00                 400000              635000                    95.00               95.00   No MI                     NO MI                        0                                  12.9250            0.5000       0.0325    0.0000               0.5325
      1103645266   ENCINITAS                                            92024    CA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                     115,000.00                     114,941.68   Second Lien                                431250           546,250.00                         0.00                 575000              600000                    95.00               95.00   No MI                     NO MI                        0                                  14.3750            0.5000       0.0325    0.0000               0.5325
      1103645334   CLINTON TOWNSHIP                                     48035    MI                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      18,800.00                      18,789.00   Second Lien                                 75200            94,000.00                         0.00                  94000               98000                   100.00              100.00   No MI                     NO MI                        0                                  13.7500            0.5000       0.0325    0.0000               0.5325
      1103645336   MONTCLAIR                                            07042    NJ                             20070201                 20220101   FIXED                   No                                              180                    180                          177                      44,000.00                      43,971.76   Second Lien                                396000           440,000.00                         0.00                 495000              500000                    88.89               88.89   No MI                     NO MI                        0                                  13.3750            0.5000       0.0325    0.0000               0.5325
      1103645372   RICHMOND                                             23231    VA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      26,250.00                      26,230.74   Second Lien                                131250           157,500.00                         0.00                 175000              178000                    90.00               90.00   No MI                     NO MI                        0                                  12.7500            0.5000       0.0325    0.0000               0.5325
      1103645374   NAPLES                                               34113    FL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      52,500.00                      52,463.52   Second Lien                                157500           210,000.00                         0.00                 210000              210000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      1103645375   VIRGINIA BEACH                                       23464    VA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      44,250.00                      44,208.28   Second Lien                                236000           280,250.00                         0.00                      -          295,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.990             0.500       0.0325     0.000               0.5325
      1103645525   RIVERSIDE                                            92504    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     352,000.00                     352,000.00   First Lien                                      0           396,000.00                    44,000.00                      -          440,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103645552   MIAMI                                                33161    FL                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      81,000.00                      80,938.91   Second Lien                                432000           513,000.00                         0.00                 540000              540000                    95.00               95.00   No MI                     NO MI                        0                                  12.6250            0.5000       0.0325    0.0000               0.5325
      1103645630   LANCASTER                                            93536    CA                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      92,000.00                      91,589.07   Second Lien                                345000           437,000.00                         0.00                      -          460,000.00                    95.00               95.00   No MI                     NO MI                        0                                   10.375             0.500       0.0325     0.000               0.5325
      1103645647   SEATTLE                                              98115    WA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     106,000.00                     105,946.96   Second Lien                                371000           477,000.00                         0.00                 530000              534000                    90.00               90.00   No MI                     NO MI                        0                                  12.6250            0.5000       0.0325    0.0000               0.5325
      1103645678   ANTIOCH                                              94531    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      47,300.00                      47,275.67   Second Lien                                236200           283,500.00                         0.00                      -          315,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.500             0.500       0.0325     0.000               0.5325
      1103645687   POMONA                                               91767    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     463,900.00                     463,900.00   First Lien                                      0           579,850.00                   115,950.00                 579900              590000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103645821   BENICIA                                              94510    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     154,000.00                     153,901.09   Second Lien                                616000           770,000.00                         0.00                      -          770,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.500             0.500       0.0325     0.000               0.5325
      1103645844   BAKERSFIELD                                          93313    CA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      26,300.00                      26,278.42   Second Lien                                210650           236,950.00                         0.00                 263320              264000                    89.99               89.99   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      1103645898   SPARKS                                               89431    NV                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      23,000.00                      22,987.28   Second Lien                                184000           207,000.00                         0.00                      -          230,000.00                    90.00               90.00   No MI                     NO MI                        0                                   14.000             0.500       0.0325     0.000               0.5325
      1103645975   CONCORD                                              94521    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     430,000.00                     430,000.00   First Lien                                      0           430,000.00                         0.00                      -          820,000.00                    52.44               52.44   No MI                     NO MI                        0                                    5.250             0.250       0.0325     0.000               0.2825
      1103646020   SAN MIGUEL                                           93451    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      78,000.00                      77,939.49   Second Lien                                546000           624,000.00                         0.00                      -          780,000.00                    80.00               80.00   No MI                     NO MI                        0                                   12.500             0.500       0.0325     0.000               0.5325
      1103646029   POMONA                                               91767    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     241,200.00                     241,200.00   First Lien                                      0           241,200.00                         0.00                      -          480,000.00                    50.25               50.25   No MI                     NO MI                        0                                    5.375             0.375       0.0325     0.000               0.4075
      1103646126   MANASSAS                                             20111    VA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     112,500.00                     112,421.79   Second Lien                                337500           450,000.00                         0.00                      -          470,000.00                    95.75               95.75   No MI                     NO MI                        0                                   12.990             0.500       0.0325     0.000               0.5325
      1103646143   TULSA                                                74135    OK                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      29,700.00                      29,683.70   Second Lien                                111375           141,075.00                         0.00                      -          148,500.00                    95.00               95.00   No MI                     NO MI                        0                                   12.425             0.500       0.0325     0.000               0.5325
      1103646254   KAILUA KONA                                          96740    HI                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      53,200.00                      53,172.63   Second Lien                                199500           252,700.00                         0.00                 266000              266000                    95.00               95.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      1103646277   LOS ANGELES                                          90037    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     432,000.00                     432,000.00   First Lien                                      0           540,000.00                   108,000.00                 540000              595000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103646283   GULF SHORES                                          36542    AL                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     197,500.00                     197,500.00   Second Lien                                553000           750,500.00                         0.00                 790000              815000                    95.00               95.00   No MI                     NO MI                        0                                  13.5000            0.5000       0.0325    0.0000               0.5325
      1103646302   WATSONVILLE                                          95076    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     626,000.00                     624,837.31   First Lien                                      0           626,000.00                         0.00                      -        2,300,000.00                    27.22               27.22   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103646348   BAKERSFIELD                                          93313    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      26,050.00                      26,028.63   Second Lien                                208750           234,800.00                         0.00                 260995              261000                    89.97               89.97   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      1103646463   QUINCY                                               95971    CA                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      34,000.00                      33,976.93   Second Lien                                136000           170,000.00                         0.00                 170000              175000                   100.00              100.00   No MI                     NO MI                        0                                  11.2500            0.5000       0.0325    0.0000               0.5325
      1103646487   CORONA                                               92880    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     560,000.00                     560,000.00   First Lien                                      0           560,000.00                         0.00                      -          700,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103646493   RICHMOND                                             23222    VA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     161,100.00                     161,100.00   First Lien                                      0           161,100.00                         0.00                 179000              180000                    90.00               90.00   PMI                       LPMI                        25                                  11.7500            0.3750       0.0325    1.4600               1.8675
      1103646521   PANAMA CITY                                          32413    FL                             20060501                 20220401   FIXED                   Yes                                             180                    360                          168                      51,900.00                      50,880.27   Second Lien                                415200           467,100.00                         0.00                 519000              790000                    90.00               90.00   No MI                     NO MI                        0                                  13.8750            0.5000       0.0325    0.0000               0.5325
      1103646623   HOMESTEAD                                            33035    FL                             20070301                 20210401   FIXED                   Yes                                             180                    360                          178                      22,000.00                      21,991.47   Second Lien                                175950           197,950.00                         0.00                 219990              220000                    89.99               89.99   No MI                     NO MI                        0                                  13.7500            0.5000       0.0325    0.0000               0.5325
      1103646782   TUSTIN                                               92782    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     824,800.00                     824,800.00   First Lien                                      0           927,900.00                   103,100.00                      -        1,031,000.00                    80.00               90.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103646816   FRESNO                                               93701    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      49,500.00                      49,477.88   Second Lien                                138600           188,100.00                         0.00                      -          198,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.125             0.500       0.0325     0.000               0.5325
      1103646838   KERNERSVILLE                                         27284    NC                             20070301                 20370201   ARMS                    No                                              360                    360                          358                      72,460.00                      72,376.30   First Lien                                      0           103,514.00                    31,054.00                 103515              104000                    70.00              100.00   No MI                     NO MI                        0                                   8.7500            0.3750       0.0325    0.0000               0.4075
      1103646976   LEESBURG                                             20176    VA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     112,950.00                     112,904.93   Second Lien                                423650           536,600.00                         0.00                 564900              595000                    95.00               95.00   No MI                     NO MI                        0                                  13.6250            0.5000       0.0325    0.0000               0.5325
      1103647092   CHINO                                                91710    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     454,500.00                     454,500.00   First Lien                                      0           454,500.00                         0.00                      -          505,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.950             0.375       0.0325     0.950               1.3575
      1103647099   LOS BANOS                                            93635    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      68,000.00                      67,964.42   Second Lien                                238000           306,000.00                         0.00                      -          340,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.425             0.500       0.0325     0.000               0.5325
      1103647132   MIAMI                                                33196    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      49,975.00                      49,951.35   Second Lien                                139930           189,905.00                         0.00                 199900              203000                    95.00               95.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      1103647189   ORANGE                                               92865    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     560,000.00                     560,000.00   First Lien                                      0           700,000.00                   140,000.00                      -          700,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103647199   SPRING VALLEY                                        91977    CA                             20070301                 20370201   ARMS                    Yes                                             360                    480                          358                     248,000.00                     247,893.33   First Lien                                      0           310,000.00                    62,000.00                 310000              315000                    80.00              100.00   No MI                     NO MI                        0                                   8.9900            0.3750       0.0325    0.0000               0.4075
      1103647350   POMPANO BEACH                                        33062    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                   1,000,000.00                   1,000,000.00   First Lien                                      0         1,341,000.00                   341,000.00                1490000             1490000                    67.12               90.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103647408   ANAHEIM HILLS                                        92807    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     124,000.00                     123,901.01   Second Lien                                496000           620,000.00                         0.00                 620000              625000                   100.00              100.00   No MI                     NO MI                        0                                  10.5000            0.5000       0.0325    0.0000               0.5325
      1103647440   ANAHEIM                                              92805    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     345,000.00                     345,000.00   First Lien                                      0           345,000.00                         0.00                      -          455,000.00                    75.83               75.83   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103647484   WEST PALM BEACH                                      33401    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      36,500.00                      36,482.43   Second Lien                                102200           138,700.00                         0.00                 146000              154000                    95.00               95.00   No MI                     NO MI                        0                                  12.8000            0.5000       0.0325    0.0000               0.5325
      1103647491   POMPANO BEACH                                        33062    FL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                     341,000.00                     340,919.80   Second Lien                               1000000         1,341,000.00                         0.00                1490000             1490000                    90.00               90.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      1103647553   ELIZABETH                                            07201    NJ                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      29,500.00                      29,483.86   Second Lien                                472000           501,500.00                         0.00                      -          590,000.00                    85.00               85.00   No MI                     NO MI                        0                                   12.225             0.500       0.0325     0.000               0.5325
      1103647673   LAKE ARROWHEAD                                       92352    CA                             20070301                 20220201   ARMS                    Yes                                             360                    480                          358                     467,500.00                     467,339.85   First Lien                                      0           467,500.00                         0.00                      -          550,000.00                    85.00               85.00   PMI                       LPMI                        22                                    9.750             0.375       0.0325     1.400               1.8075
      1103647703   HESPERIA                                             92345    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          380,000.00                    71.58               71.58   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103647745   CARSON                                               90745    CA                             20070301                 20370401   ARMS                    Yes                                             360                    480                          358                     422,500.00                     422,280.55   First Lien                                      0           422,500.00                         0.00                      -          530,000.00                    79.72               79.72   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103648022   LA CANADA FLINTRIDGE                                 91011    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     877,232.00                     877,232.00   First Lien                                      0           927,232.00                    50,000.00                      -        1,350,000.00                    64.99               68.69   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103648053   MESA                                                 85202    AZ                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      46,000.00                      45,975.65   Second Lien                                161000           207,000.00                         0.00                 230000              235000                    90.00               90.00   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      1103648126   CABAZON AREA                                         92230    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     172,720.00                     172,720.00   First Lien                                      0           215,900.00                    43,180.00                 215900              218000                    80.00              100.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103648158   RALEIGH                                              27603    NC                             20070301                 20370201   ARMS                    Yes                                             360                    480                          358                     156,000.00                     155,950.22   First Lien                                      0           156,000.00                         0.00                      -          195,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103648203   HOMEWOOD                                             96141    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     616,000.00                     614,679.83   First Lien                                      0           616,000.00                         0.00                 880000              917100                    70.00               70.00   No MI                     NO MI                        0                                   5.6250            0.2500       0.0325    0.0000               0.2825
      1103648241   ANAHEIM                                              92804    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      90,000.00                      89,958.62   Second Lien                                450000           540,000.00                         0.00                      -          600,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.000             0.500       0.0325     0.000               0.5325
      1103648294   CHICO                                                95928    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      31,500.00                      31,480.86   Second Lien                                252000           283,500.00                         0.00                 315000              315000                    90.00               90.00   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      1103648355   NEW HOPE                                             55428    MN                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      62,750.00                      62,729.17   Second Lien                                175700           238,450.00                         0.00                      -          251,000.00                    95.00               95.00   No MI                     NO MI                        0                                   14.430             0.500       0.0325     0.000               0.5325
      1103648365   SAN FRANCISCO                                        94124    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     504,000.00                     504,000.00   First Lien                                      0           598,500.00                    94,500.00                 630000              740000                    80.00               95.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103648406   GLENDALE                                             91206    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     591,500.00                     590,290.92   First Lien                                      0           591,500.00                         0.00                 910000              925000                    65.00               65.00   No MI                     NO MI                        0                                   5.8750            0.2500       0.0325    0.0000               0.2825
      1103648432   YUMA                                                 85364    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     157,500.00                     157,433.95   First Lien                                      0           157,500.00                         0.00                      -          175,000.00                    90.00               90.00   PMI                       LPMI                        25                                   10.250             0.375       0.0325     1.340               1.7475
      1103648450   AUBURN HILLS                                         48326    MI                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     644,000.00                     643,311.52   First Lien                                      0           644,000.00                         0.00                      -        1,100,000.00                    58.55               58.55   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103648573   HONOLULU                                             96822    HI                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     162,300.00                     162,201.36   Second Lien                               1217250         1,379,550.00                         0.00                      -        1,623,000.00                    85.00               85.00   No MI                     NO MI                        0                                   11.750             0.500       0.0325     0.000               0.5325
      1103648735   PARKLAND                                             33076    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     652,000.00                     652,000.00   First Lien                                      0           815,000.00                   163,000.00                 815000              820000                    80.00              100.00   No MI                     NO MI                        0                                   7.9000            0.3750       0.0325    0.0000               0.4075
      1103648746   FONTANA                                              92336    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     389,600.00                     389,600.00   First Lien                                      0           389,600.00                         0.00                      -          487,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103648767   BIG BEAR LAKE                                        92315    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     900,000.00                     900,000.00   First Lien                                      0           900,000.00                         0.00                      -        1,500,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103648834   HUNTINGTON BEACH                                     92646    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     525,000.00                     525,000.00   First Lien                                      0           525,000.00                         0.00                 700000              700000                    75.00               75.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103648907   NASHVILLE                                            37211    TN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     126,000.00                     126,000.00   First Lien                                      0           159,600.00                    33,600.00                      -          168,000.00                    75.00               95.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103648931   CHINO                                                91710    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     319,600.00                     319,600.00   First Lien                                      0           399,500.00                    79,900.00                 399500              400000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103649078   LOS ANGELES                                          90020    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     273,600.00                     273,600.00   First Lien                                      0           307,800.00                    34,200.00                 342000              342000                    80.00               90.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103649142   LAVEEN                                               85339    AZ                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     133,750.00                     133,679.23   Second Lien                                374500           508,250.00                         0.00                 535000              535000                    95.00               95.00   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      1103649164   GLENDORA                                             91741    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     576,000.00                     576,000.00   First Lien                                      0           576,000.00                         0.00                      -          750,000.00                    76.80               76.80   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103649173   NASHVILLE                                            37209    TN                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     113,000.00                     112,882.02   First Lien                                      0           113,000.00                         0.00                      -          163,000.00                    69.33               69.33   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103649192   CLARKSBURG                                           20871    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     644,300.00                     644,300.00   First Lien                                      0           644,300.00                         0.00                      -          820,000.00                    78.58               78.58   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103649198   FREMONT                                              94538    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     414,000.00                     413,607.18   First Lien                                      0           414,000.00                         0.00                      -          715,000.00                    57.91               57.91   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103649226   HENDERSON                                            89002    NV                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     240,000.00                     239,755.31   First Lien                                      0           270,000.00                    30,000.00                 300000              300000                    80.00               90.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103649241   LOS GATOS                                            95032    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     606,000.00                     606,000.00   First Lien                                      0           686,000.00                    80,000.00                      -        1,100,000.00                    55.10               62.37   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103649244   STOCKTON                                             95210    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      37,500.00                      37,479.58   Second Lien                                300000           337,500.00                         0.00                 375000              375000                    90.00               90.00   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      1103649274   LAS VEGAS                                            89119    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     175,550.00                     175,550.00   First Lien                                      0           208,450.00                    32,900.00                 219440              220000                    80.00               95.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103649275   PHOENIX                                              85035    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     135,800.00                     135,800.00   First Lien                                      0           135,800.00                         0.00                      -          230,000.00                    59.05               59.05   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103649342   DALY CITY                                            94014    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     528,000.00                     528,000.00   First Lien                                      0           528,000.00                         0.00                      -          960,000.00                    55.00               55.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103649373   DESERT HOT SPRINGS                                   92240    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     219,200.00                     219,200.00   First Lien                                      0           274,000.00                    54,800.00                 274000              274000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103649380   MENIFEE                                              92584    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     263,200.00                     263,200.00   First Lien                                      0           338,400.00                    75,200.00                 376000              384000                    70.00               90.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103649478   CARMEL                                               10512    NY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     276,000.00                     276,000.00   First Lien                                      0           276,000.00                         0.00                      -          345,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103649499   WHEAT RIDGE                                          80033    CO                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           186,500.00                    26,500.00                      -          205,000.00                    78.05               90.98   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103649521   ELK GROVE                                            95624    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     285,000.00                     285,000.00   First Lien                                      0           361,000.00                    76,000.00                      -          380,000.00                    75.00               95.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103649550   PHARR                                                78577    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     211,500.00                     211,500.00   First Lien                                      0           211,500.00                         0.00                 235000              235000                    90.00               90.00   PMI                       LPMI                        25                                   9.8750            0.3750       0.0325    1.0900               1.4975
      1103649552   BAKERSFIELD                                          93313    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     239,500.00                     239,010.44   First Lien                                      0           239,500.00                         0.00                      -          325,000.00                    73.70               73.70   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103649572   SAN DIEGO                                            92154    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     416,000.00                     416,000.00   First Lien                                      0           416,000.00                         0.00                      -          520,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103649594   HONOLULU                                             96815    HI                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      63,000.00                      62,982.47   Second Lien                                504000           567,000.00                         0.00                 630000              645000                    90.00               90.00   No MI                     NO MI                        0                                  12.1250            0.5000       0.0325    0.0000               0.5325
      1103649602   IRVINE                                               92620    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     110,000.00                     109,970.88   Second Lien                                412500           522,500.00                         0.00                 550000              550000                    95.00               95.00   No MI                     NO MI                        0                                  12.3500            0.5000       0.0325    0.0000               0.5325
      1103649607   GARDEN GROVE                                         92841    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     345,000.00                     345,000.00   First Lien                                      0           391,000.00                    46,000.00                      -          460,000.00                    75.00               85.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103649618   BOISE                                                83706    ID                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     154,000.00                     153,823.36   First Lien                                      0           204,000.00                    50,000.00                      -          220,000.00                    70.00               92.73   No MI                     NO MI                        0                                    5.250             0.250       0.0325     0.000               0.2825
      1103649626   HACIENDA HEIGHTS AREA                                91745    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     539,000.00                     538,619.58   First Lien                                      0           539,000.00                         0.00                      -          770,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103649780   POUGHKEEPSIE                                         12603    NY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     135,000.00                     135,000.00   First Lien                                      0           135,000.00                         0.00                 150000              150000                    90.00               90.00   PMI                       BPMI                        25                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103649788   RANCHO PALO VERDES                                   90275    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     759,000.00                     758,226.17   First Lien                                      0         1,259,000.00                   500,000.00                      -        2,200,000.00                    34.50               57.23   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103649828   TAMPA                                                33618    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     306,000.00                     306,000.00   First Lien                                      0           306,000.00                         0.00                      -          340,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.275             0.375       0.0325     1.340               1.7475
      1103649838   DOWNEY                                               90240    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     520,000.00                     520,000.00   First Lien                                      0           520,000.00                         0.00                 650000              650000                    80.00               80.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103649844   PALMDALE                                             93551    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     424,000.00                     424,000.00   First Lien                                      0           530,000.00                   106,000.00                 530000              530000                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103649879   CARMEL BY THE SEA                                    93921    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     420,000.00                     419,601.49   First Lien                                      0           420,000.00                         0.00                      -        1,500,000.00                    28.00               28.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103649882   STANTON                                              90680    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     192,500.00                     192,351.22   Second Lien                                577500           770,000.00                         0.00                 770000              775000                   100.00              100.00   No MI                     NO MI                        0                                  10.6500            0.5000       0.0325    0.0000               0.5325
      1103649902   LANCASTER                                            93536    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     384,000.00                     384,000.00   First Lien                                      0           384,000.00                         0.00                      -          480,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103649925   HONOLULU                                             96822    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     190,500.00                     190,500.00   First Lien                                      0           190,500.00                         0.00                      -          295,000.00                    64.58               64.58   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103649983   MOUND                                                55364    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     749,250.00                     749,250.00   First Lien                                      0           949,050.00                   199,800.00                 999000             1100000                    75.00               95.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103650057   BAKERSFIELD                                          93311    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     534,000.00                     533,442.47   First Lien                                      0           534,000.00                         0.00                      -          780,000.00                    68.47               68.47   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103650090   GRASS VALLEY                                         95949    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          292,000.00                    68.50               68.50   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103650126   PHOENIX                                              85040    AZ                             20070401                 20220301   FIXED                   No                                              180                    180                          179                     103,000.00                     102,660.68   First Lien                                      0           103,000.00                         0.00                      -          215,000.00                    47.91               47.91   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103650169   LOS ANGELES                                          90037    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          435,000.00                    45.98               45.98   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103650190   SAN BERNARDINO                                       92404    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          310,000.00                    51.62               51.62   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103650205   MENIFEE                                              92584    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      70,000.00                      69,932.25   Second Lien                                280000           350,000.00                         0.00                      -          350,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.500             0.500       0.0325     0.000               0.5325
      1103650238   SAN DIEGO                                            92117    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     240,000.00                     240,000.00   First Lien                                      0           300,000.00                    60,000.00                 300000              300000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103650275   ORLANDO                                              32839    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     223,100.00                     223,100.00   First Lien                                      0           278,900.00                    55,800.00                 278900              290000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103650336   SANTA BARBARA                                        93105    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     600,000.00                     599,358.56   First Lien                                      0           600,000.00                         0.00                      -        1,375,000.00                    43.64               43.64   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103650353   SAN JOSE                                             95122    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     448,000.00                     448,000.00   First Lien                                      0           448,000.00                         0.00                      -          640,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103650439   BENICIA                                              94510    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     288,000.00                     288,000.00   First Lien                                      0           360,000.00                    72,000.00                      -          360,000.00                    80.00              100.00   No MI                     NO MI                        0                                    5.999             0.375       0.0325     0.000               0.4075
      1103650475   COSTA MESA                                           92627    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     485,000.00                     484,582.43   First Lien                                      0           485,000.00                         0.00                      -          865,000.00                    56.07               56.07   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103650515   LOS ANGELES                                          90043    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     340,000.00                     340,000.00   First Lien                                      0           340,000.00                         0.00                      -          700,000.00                    48.58               48.58   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103650588   WHITTIER                                             90601    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     320,000.00                     319,281.25   First Lien                                      0           320,000.00                         0.00                      -          400,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.375             0.250       0.0325     0.000               0.2825
      1103650621   LOS ANGELES                                          90291    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     941,000.00                     941,000.00   First Lien                                      0           941,000.00                         0.00                      -        1,600,000.00                    58.82               58.82   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103650646   KOLOA                                                96756    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     664,000.00                     663,337.72   First Lien                                      0           664,000.00                         0.00                 830000              830000                    80.00               80.00   No MI                     NO MI                        0                                   5.9900            0.3750       0.0325    0.0000               0.4075
      1103650664   PLACENTIA                                            92870    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     303,000.00                     302,726.08   First Lien                                      0           303,000.00                         0.00                      -          450,000.00                    67.34               67.34   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103650704   CHINO HILLS                                          91709    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     416,000.00                     416,000.00   First Lien                                      0           520,000.00                   104,000.00                 520000              530000                    80.00              100.00   No MI                     NO MI                        0                                   8.8750            0.3750       0.0325    0.0000               0.4075
      1103650762   AZUSA                                                91702    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     380,000.00                     380,000.00   First Lien                                      0           475,000.00                    95,000.00                 475000              485000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103650770   PORTERVILLE                                          93257    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     241,600.00                     241,600.00   First Lien                                      0           302,000.00                    60,400.00                      -          310,000.00                    77.94               97.42   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103650880   OCEANSIDE                                            92057    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     454,300.00                     454,300.00   First Lien                                      0           551,650.00                    97,350.00                      -          649,000.00                    70.00               85.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103650906   AZUSA                                                91702    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     145,000.00                     144,862.42   First Lien                                      0           145,000.00                         0.00                      -          425,000.00                    34.12               34.12   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103650985   LAGUNA NIGUEL                                        92677    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     115,000.00                     115,000.00   First Lien                                      0           115,000.00                         0.00                      -          355,000.00                    32.40               32.40   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103651112   GARDEN GROVE                                         92840    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     433,500.00                     433,117.53   First Lien                                      0           433,500.00                         0.00                      -          560,000.00                    77.42               77.42   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103651126   SALT LAKE CITY                                       84111    UT                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      26,350.00                      26,343.98   Second Lien                                140700           167,050.00                         0.00                 175875              195500                    94.99               94.99   No MI                     NO MI                        0                                  13.0000            0.5000       0.0325    0.0000               0.5325
      1103651168   SPANAWAY                                             98387    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     181,762.00                     181,762.00   First Lien                                      0           230,232.00                    48,470.00                 242350              245000                    75.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103651172   BEL AIR                                              21014    MD                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      42,000.00                      41,978.97   Second Lien                                147000           189,000.00                         0.00                 210000              320000                    90.00               90.00   No MI                     NO MI                        0                                  12.6250            0.5000       0.0325    0.0000               0.5325
      1103651202   AUBURN                                               95602    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     490,000.00                     490,000.00   First Lien                                      0           490,000.00                         0.00                      -          735,000.00                    66.67               66.67   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103651240   WEST PALM BEACH                                      33411    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     178,600.00                     178,600.00   First Lien                                      0           178,600.00                         0.00                 188000              204000                    95.00               95.00   PMI                       BPMI                        30                                   7.9900            0.3750       0.0325    0.0000               0.4075
      1103651250   HOFFMAN ESTATES                                      60192    IL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     200,000.00                     199,810.24   First Lien                                      0           200,000.00                         0.00                      -          510,000.00                    39.22               39.22   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103651275   HELENA                                               35080    AL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     132,000.00                     131,862.18   First Lien                                      0           132,000.00                         0.00                      -          170,000.00                    77.65               77.65   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103651288   COVINA                                               91724    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     404,000.00                     404,000.00   First Lien                                      0           529,000.00                   125,000.00                      -          600,000.00                    67.34               88.17   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103651320   NEWPORT BEACH                                        92663    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     596,300.00                     594,245.21   First Lien                                      0           796,300.00                   200,000.00                      -        1,800,000.00                    33.13               44.24   No MI                     NO MI                        0                                    5.975             0.250       0.0325     0.000               0.2825
      1103651337   ALEXANDRIA                                           22309    VA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          640,000.00                    62.50               62.50   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103651396   REDLANDS                                             92373    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     430,000.00                     430,000.00   First Lien                                      0           430,000.00                         0.00                      -          590,000.00                    72.89               72.89   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103651416   HELENA                                               35080    AL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     279,900.00                     279,578.94   First Lien                                      0           279,900.00                         0.00                 349900              370000                    80.00               80.00   No MI                     NO MI                        0                                   5.2500            0.2500       0.0325    0.0000               0.2825
      1103651419   HOBOKEN                                              07030    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     477,393.00                     477,393.00   First Lien                                      0           613,791.00                   136,398.00                 681990              685000                    70.00               90.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103651616   IRVINE                                               92603    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     560,000.00                     560,000.00   First Lien                                      0           660,000.00                   100,000.00                      -          900,000.00                    62.23               73.34   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103651644   POMONA                                               91767    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     303,920.00                     303,920.00   First Lien                                      0           379,900.00                    75,980.00                 379900              379900                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103651658   EL CENTRO                                            92243    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     115,000.00                     114,885.52   First Lien                                      0           115,000.00                         0.00                      -          215,000.00                    53.49               53.49   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103651685   SAN DIEGO                                            92113    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     192,000.00                     192,000.00   First Lien                                      0           192,000.00                         0.00                      -          420,000.00                    45.72               45.72   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103651687   BIG BEAR LAKE                                        92315    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           242,250.00                    38,250.00                 255000              265000                    80.00               95.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103651721   GAITHERSBURG                                         20879    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     235,200.00                     235,200.00   First Lien                                      0           319,200.00                    84,000.00                 336000              345000                    70.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103651752   CAMPBELL                                             95008    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     315,000.00                     314,686.42   First Lien                                      0           315,000.00                         0.00                      -          798,000.00                    39.48               39.48   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103651764   PALMDALE                                             93550    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     144,000.00                     144,000.00   First Lien                                      0           144,000.00                         0.00                      -          280,000.00                    51.43               51.43   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103651810   DANVILLE                                             94526    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     564,000.00                     563,464.85   First Lien                                      0           564,000.00                         0.00                      -        1,605,000.00                    35.15               35.15   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103651837   TOLLESON                                             85353    AZ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     185,000.00                     185,000.00   First Lien                                      0           185,000.00                         0.00                      -          269,000.00                    68.78               68.78   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103651838   LAKE FOREST                                          92630    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     322,200.00                     322,200.00   First Lien                                      0           322,200.00                         0.00                      -          430,000.00                    74.94               74.94   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103651856   ALTADENA                                             91001    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                      -          600,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103651876   ANAHEIM                                              92802    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     321,000.00                     321,000.00   First Lien                                      0           321,000.00                         0.00                      -          535,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103651973   WAHINGTON                                            07882    NJ                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     204,750.00                     204,750.00   First Lien                                      0           283,500.00                    78,750.00                      -          333,000.00                    61.49               85.14   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103652059   LOS ANGELES                                          91331    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     439,200.00                     439,200.00   First Lien                                      0           549,000.00                   109,800.00                 549000              549000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103652088   RIVERSIDE AREA                                       92509    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          345,000.00                    78.85               78.85   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103652103   REDMOND                                              98053    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     418,000.00                     417,563.59   First Lien                                      0           418,000.00                         0.00                      -          800,000.00                    52.25               52.25   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103652104   DAVIE                                                33314    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      34,400.00                      34,382.79   Second Lien                                137600           172,000.00                         0.00                 172000              174000                   100.00              100.00   No MI                     NO MI                        0                                  12.6250            0.5000       0.0325    0.0000               0.5325
      1103652212   SAN DIMAS                                            91773    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     350,000.00                     349,695.64   First Lien                                      0           350,000.00                         0.00                      -          650,000.00                    53.85               53.85   No MI                     NO MI                        0                                    6.699             0.250       0.0325     0.000               0.2825
      1103652218   PLYMOUTH                                             48170    MI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     208,000.00                     208,000.00   First Lien                                      0           247,000.00                    39,000.00                 260000              480000                    80.00               95.00   No MI                     NO MI                        0                                   8.6250            0.3750       0.0325    0.0000               0.4075
      1103652262   WEST COVINA                                          91790    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     352,400.00                     352,400.00   First Lien                                      0           352,400.00                         0.00                      -          489,000.00                    72.07               72.07   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103652293   LANCASTER                                            93534    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     188,500.00                     188,500.00   First Lien                                      0           188,500.00                         0.00                      -          290,000.00                    65.00               65.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103652316   DOWNEY                                               90241    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     576,000.00                     576,000.00   First Lien                                      0           720,000.00                   144,000.00                 720000              720000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103652329   SAN DIEGO                                            92111    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     399,000.00                     399,000.00   First Lien                                      0           509,000.00                   110,000.00                      -          570,000.00                    70.00               89.30   No MI                     NO MI                        0                                    6.659             0.375       0.0325     0.000               0.4075
      1103652333   WHITEFISH                                            59937    MT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     234,400.00                     234,400.00   First Lien                                      0           278,350.00                    43,950.00                      -          293,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103652335   TRABUCO CANYON                                       92679    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     294,750.00                     294,449.49   First Lien                                      0           393,000.00                    98,250.00                 393000              395000                    75.00              100.00   No MI                     NO MI                        0                                   5.8750            0.2500       0.0325    0.0000               0.2825
      1103652343   LANCASTER                                            93535    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     555,200.00                     555,200.00   First Lien                                      0           694,000.00                   138,800.00                 694000              725000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103652351   IRVINE                                               92603    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     404,000.00                     404,000.00   First Lien                                      0           404,000.00                         0.00                      -          660,000.00                    61.22               61.22   No MI                     NO MI                        0                                    6.220             0.375       0.0325     0.000               0.4075
      1103652363   LOS ANGELES                                          91356    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          260,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103652373   GARDENA                                              90249    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     204,000.00                     204,000.00   First Lien                                      0           255,000.00                    51,000.00                 255000              255000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103652452   OVIEDO                                               32765    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                 475000              500000                    80.00               80.00   No MI                     NO MI                        0                                   7.0000            0.2500       0.0325    0.0000               0.2825
      1103652458   WEST SACRAMENTO                                      95605    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     820,000.00                     819,143.87   First Lien                                      0           820,000.00                         0.00                      -        1,025,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103652492   NAPERVILLE                                           60565    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     274,800.00                     274,800.00   First Lien                                      0           340,800.00                    66,000.00                      -          343,500.00                    80.00               99.22   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103652510   PASO ROBLES                                          93446    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      97,000.00                      96,975.18   Second Lien                                339500           436,500.00                         0.00                      -          485,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.500             0.500       0.0325     0.000               0.5325
      1103652537   WOODMERE                                             11598    NY                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     510,000.00                     510,000.00   First Lien                                      0           510,000.00                         0.00                      -          853,000.00                    59.79               59.79   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103652548   DENVER                                               80211    CO                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          480,000.00                    68.75               68.75   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103652549   BAKERSFIELD                                          93312    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     320,000.00                     320,000.00   First Lien                                      0           384,670.00                    64,670.00                      -          400,000.00                    80.00               96.17   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103652552   YUCCA VALLEY                                         92284    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     134,640.00                     134,518.28   First Lien                                      0           159,885.00                    25,245.00                 168300              183000                    80.00               95.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103652565   TEMECULA                                             92592    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     256,000.00                     256,000.00   First Lien                                      0           256,000.00                         0.00                 320000              320000                    80.00               80.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103652605   ORLANDO                                              32817    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     241,600.00                     241,600.00   First Lien                                      0           285,100.00                    43,500.00                      -          302,000.00                    80.00               94.41   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103652607   ESTES PARK                                           80517    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     126,750.00                     126,750.00   First Lien                                      0           126,750.00                         0.00                      -          169,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103652612   PASO ROBLES                                          93446    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     636,000.00                     636,000.00   First Lien                                      0           636,000.00                         0.00                      -          795,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103652631   SAN JOSE                                             95126    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     484,000.00                     484,000.00   First Lien                                      0           605,000.00                   121,000.00                 605000              605000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103652634   TOOELE                                               84074    UT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     171,200.00                     171,200.00   First Lien                                      0           171,200.00                         0.00                      -          214,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103652653   LOS ANGELES                                          90047    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     426,000.00                     425,614.89   First Lien                                      0           426,000.00                         0.00                      -          577,000.00                    73.84               73.84   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103652662   ROSEVILLE                                            95747    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.200             0.250       0.0325     0.000               0.2825
      1103652674   BIG BEAR LAKE                                        92315    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     560,000.00                     559,455.71   First Lien                                      0           560,000.00                         0.00                      -        1,272,000.00                    44.03               44.03   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103652697   KIHEI                                                96753    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     219,200.00                     219,200.00   First Lien                                      0           219,200.00                         0.00                      -          295,000.00                    74.31               74.31   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103652700   HAWAIIAN GARDENS                                     90716    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          535,000.00                    74.77               74.77   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103652713   TEHACHAPI                                            93561    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     352,000.00                     352,000.00   First Lien                                      0           352,000.00                         0.00                 455000              455000                    77.37               77.37   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103652729   SALT LAKE CITY                                       84105    UT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     191,000.00                     191,000.00   First Lien                                      0           191,000.00                         0.00                      -          320,000.00                    59.69               59.69   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103652737   SAN FRANCISCO                                        94122    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     585,000.00                     584,471.15   First Lien                                      0           585,000.00                         0.00                      -          975,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103652754   LOS ANGELES                                          90002    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     487,500.00                     487,500.00   First Lien                                      0           650,000.00                   162,500.00                 650000              650000                    75.00              100.00   No MI                     NO MI                        0                                   8.8750            0.3750       0.0325    0.0000               0.4075
      1103652758   DENVER                                               80229    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      81,000.00                      81,000.00   First Lien                                      0           102,600.00                    21,600.00                 108000              108000                    75.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103652771   LOS ANGELES                                          90042    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     505,000.00                     505,000.00   First Lien                                      0           505,000.00                         0.00                      -          700,000.00                    72.15               72.15   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103652779   DEL MAR                                              92014    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     525,000.00                     525,000.00   First Lien                                      0           525,000.00                         0.00                      -        1,320,000.00                    39.78               39.78   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103652840   CANYON LAKE                                          92587    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     470,400.00                     470,400.00   First Lien                                      0           530,900.00                    60,500.00                      -          915,000.00                    51.41               58.03   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103652841   PURCELLVILLE                                         20132    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     500,000.00                     500,000.00   First Lien                                      0           556,700.00                    56,700.00                      -          630,000.00                    79.37               88.37   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103652847   TUSTIN                                               92780    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     435,000.00                     435,000.00   First Lien                                      0           435,000.00                         0.00                      -          553,000.00                    78.67               78.67   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103652867   PARKER                                               80138    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     150,120.00                     150,120.00   First Lien                                      0           178,267.00                    28,147.00                 187650              193000                    80.00               95.00   No MI                     NO MI                        0                                   7.3750            0.2500       0.0325    0.0000               0.2825
      1103652876   WATERSOUND                                           32413    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     875,000.00                     875,000.00   First Lien                                      0         1,572,717.00                   697,717.00                      -        1,900,000.00                    46.06               82.78   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103652929   DETROIT                                              48224    MI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      88,000.00                      88,000.00   First Lien                                      0           108,000.00                    20,000.00                 120000              120000                    73.34               90.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103652986   MADERA                                               93636    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     355,000.00                     355,000.00   First Lien                                      0           355,000.00                         0.00                      -          660,000.00                    53.79               53.79   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103653022   OCEANSIDE                                            92057    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     301,000.00                     301,000.00   First Lien                                      0           301,000.00                         0.00                 430000              473000                    70.00               70.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103653039   DENVER                                               80210    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                 471000              500000                    74.31               74.31   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103653048   ESTES PARK                                           80517    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     736,000.00                     736,000.00   First Lien                                      0           736,000.00                         0.00                 920000              935000                    80.00               80.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103653060   GLENDALE                                             91214    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     562,000.00                     562,000.00   First Lien                                      0           562,000.00                         0.00                      -          750,000.00                    74.94               74.94   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103653068   ORANGE                                               92867    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     630,000.00                     630,000.00   First Lien                                      0           630,000.00                         0.00                      -          900,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103653073   VALLEJO                                              94590    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     304,000.00                     304,000.00   First Lien                                      0           361,000.00                    57,000.00                 380000              380000                    80.00               95.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103653093   SEATTLE                                              98117    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     492,000.00                     492,000.00   First Lien                                      0           492,000.00                         0.00                      -          615,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103653099   SAN PEDRO                                            90732    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          555,000.00                    38.20               38.20   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103653115   FORT WALTON BEACH                                    32548    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     289,000.00                     289,000.00   First Lien                                      0           471,364.00                   182,364.00                      -          520,000.00                    55.58               90.65   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103653161   INGLEWOOD                                            90301    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     150,000.00                     150,000.00   First Lien                                      0           150,000.00                         0.00                      -          525,000.00                    28.58               28.58   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103653165   OXNARD                                               93033    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                      -          600,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103653172   WHITTIER AREA                                        90606    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          545,000.00                    55.05               55.05   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103653191   PLACERVILLE                                          95667    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     577,500.00                     577,500.00   First Lien                                      0           577,500.00                         0.00                      -          825,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103653215   BURKE                                                22015    VA                             20070401                 20220301   FIXED                   No                                              180                    180                          179                     400,000.00                     398,595.03   First Lien                                      0           400,000.00                         0.00                      -          867,000.00                    46.14               46.14   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103653297   THORNTON                                             80602    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     208,000.00                     208,000.00   First Lien                                      0           260,000.00                    52,000.00                 260000              260000                    80.00              100.00   No MI                     NO MI                        0                                   5.9900            0.3750       0.0325    0.0000               0.4075
      1103653310   LONG BEACH                                           90808    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     417,000.00                     417,000.00   First Lien                                      0           607,400.00                   190,400.00                      -          675,000.00                    61.78               89.99   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103653355   SAN FRANCISCO                                        94107    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     378,000.00                     377,641.34   First Lien                                      0           378,000.00                         0.00                      -          630,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103653358   LOS ANGELES                                          90043    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     599,920.00                     599,920.00   First Lien                                      0           749,900.00                   149,980.00                 749900              810000                    80.00              100.00   No MI                     NO MI                        0                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103653380   THOUSAND OAKS                                        91362    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     169,500.00                     169,335.26   First Lien                                      0           169,500.00                         0.00                      -          360,000.00                    47.09               47.09   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103653387   MURRIETA                                             92562    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     336,000.00                     336,000.00   First Lien                                      0           420,000.00                    84,000.00                      -          420,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103653393   MAYWOOD                                              60153    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     131,400.00                     131,332.59   First Lien                                      0           131,400.00                         0.00                 146000              146000                    90.00               90.00   PMI                       LPMI                        25                                   9.3000            0.3750       0.0325    1.1900               1.5975
      1103653401   OJAI                                                 93023    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     336,750.00                     336,750.00   First Lien                                      0           426,550.00                    89,800.00                 449000              449000                    75.00               95.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103653418   SUN CITY                                             92586    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     115,700.00                     115,700.00   First Lien                                      0           115,700.00                         0.00                      -          178,000.00                    65.00               65.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103653446   PASO ROBLES                                          93446    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     497,000.00                     497,000.00   First Lien                                      0           497,000.00                         0.00                      -          575,000.00                    86.44               86.44   PMI                       LPMI                        25                                    6.500             0.375       0.0325     0.820               1.2275
      1103653448   ENGLEWOOD                                            80111    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     741,750.00                     741,750.00   First Lien                                      0           741,750.00                         0.00                      -        1,525,000.00                    48.64               48.64   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103653455   SAN DIEGO                                            92114    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     347,800.00                     347,800.00   First Lien                                      0           437,800.00                    90,000.00                      -          470,000.00                    74.00               93.15   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103653464   ROSEMEAD                                             91770    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     637,000.00                     637,000.00   First Lien                                      0           745,000.00                   108,000.00                      -          910,000.00                    70.00               81.87   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103653469   HAWTHORNE                                            90250    CA                             20070401                 20220301   FIXED                   No                                              180                    180                          179                     299,500.00                     298,502.66   First Lien                                      0           299,500.00                         0.00                      -          700,000.00                    42.79               42.79   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103653506   COACHELLA                                            92236    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     251,992.00                     251,992.00   First Lien                                      0           314,990.00                    62,998.00                 314990              315000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103653553   COLLEYVILLE                                          76034    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     363,000.00                     363,000.00   First Lien                                      0           363,000.00                         0.00                      -        1,272,500.00                    28.53               28.53   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103653572   ADDISON                                              60101    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     172,000.00                     172,000.00   First Lien                                      0           215,000.00                    43,000.00                 215000              215000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103653577   STEAMBOAT SPRINGS                                    80477    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     283,000.00                     283,000.00   First Lien                                      0           283,000.00                         0.00                      -          750,000.00                    37.74               37.74   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103653599   AREA OF HAR                                          90710    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     480,000.00                     479,596.74   First Lien                                      0           480,000.00                         0.00                 600000              600000                    80.00               80.00   No MI                     NO MI                        0                                   6.8750            0.2500       0.0325    0.0000               0.2825
      1103653605   SAN MARCOS                                           92069    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     465,000.00                     465,000.00   First Lien                                      0           465,000.00                         0.00                      -          915,000.00                    50.82               50.82   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103653612   TRACY                                                95376    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     432,000.00                     432,000.00   First Lien                                      0           473,500.00                    41,500.00                      -          540,000.00                    80.00               87.69   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103653659   BURBANK                                              91501    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     452,000.00                     452,000.00   First Lien                                      0           452,000.00                         0.00                 565000              585000                    80.00               80.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103653671   ALISO VIEJO                                          92656    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     339,000.00                     339,000.00   First Lien                                      0           417,500.00                    78,500.00                      -          485,000.00                    69.90               86.09   No MI                     NO MI                        0                                    6.470             0.375       0.0325     0.000               0.4075
      1103653689   TWENTYNINE PALMS                                     92277    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     127,000.00                     127,000.00   First Lien                                      0           127,000.00                         0.00                      -          170,000.00                    74.71               74.71   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103653742   SPARKS                                               89436    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     318,700.00                     318,418.82   First Lien                                      0           382,450.00                    63,750.00                      -          425,000.00                    74.99               89.99   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103653785   LEHI                                                 84043    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     161,718.00                     161,718.00   First Lien                                      0           204,843.00                    43,125.00                 215625              216000                    75.00               95.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103653804   SAN CARLOS                                           94070    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     460,000.00                     459,519.73   First Lien                                      0           460,000.00                         0.00                 575000              575000                    80.00               80.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103653810   MIAMI                                                33196    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     262,500.00                     262,500.00   First Lien                                      0           356,250.00                    93,750.00                      -          375,000.00                    70.00               95.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103653816   COVINA AREA                                          91722    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           475,000.00                    95,000.00                      -          475,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103653861   IRVINE                                               92612    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     265,293.00                     265,293.00   First Lien                                      0           265,293.00                         0.00                 378990              380000                    70.00               70.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103653863   TRABUCO CANYON                                       92679    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     720,000.00                     720,000.00   First Lien                                      0           720,000.00                         0.00                      -          980,000.00                    73.47               73.47   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103653888   PLEASANTVILLE                                        08232    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     228,000.00                     227,850.86   First Lien                                      0           228,000.00                         0.00                      -          285,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.125             0.375       0.0325     0.000               0.4075
      1103653894   MIAMI                                                33145    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          575,000.00                    73.05               73.05   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103653897   WAYNE                                                07470    NJ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     650,000.00                     650,000.00   First Lien                                      0           800,000.00                   150,000.00                 875000              875000                    74.29               91.43   No MI                     NO MI                        0                                   6.6250            0.2500       0.0325    0.0000               0.2825
      1103653913   SAINT PAUL                                           55106    MN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     122,500.00                     122,500.00   First Lien                                      0           122,500.00                         0.00                      -          175,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103653929   LITCHFIELD                                           85340    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           270,000.00                    30,000.00                 300000              305000                    80.00               90.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103653934   LONG BEACH                                           90804    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     476,000.00                     476,000.00   First Lien                                      0           680,000.00                   204,000.00                 680000              680000                    70.00              100.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103653953   JACKSONVILLE                                         32244    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,200.00                     185,200.00   First Lien                                      0           185,200.00                         0.00                 195000              195000                    94.98               94.98   PMI                       LPMI                        30                                   7.5900            0.3750       0.0325    0.8300               1.2375
      1103653975   SAN DIEGO                                            92116    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     310,500.00                     310,500.00   First Lien                                      0           310,500.00                         0.00                 345000              345000                    90.00               90.00   PMI                       LPMI                        25                                  10.7500            0.3750       0.0325    1.0900               1.4975
      1103653997   VALENCIA                                             91354    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                      -          560,000.00                    64.29               64.29   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103654006   CORAL GABLES                                         33134    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     844,000.00                     844,000.00   First Lien                                      0           844,000.00                         0.00                      -        1,200,000.00                    70.34               70.34   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103654026   MENIFEE AREA                                         92584    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     305,600.00                     305,330.38   First Lien                                      0           382,000.00                    76,400.00                 382000              382000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.2500       0.0325    0.0000               0.2825
      1103654045   ANAHEIM HILLS                                        92807    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           600,000.00                   120,000.00                 600000              600000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103654046   SALT LAKE CITY                                       84107    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     135,850.00                     135,850.00   First Lien                                      0           198,550.00                    62,700.00                      -          209,000.00                    65.00               95.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103654056   TEMECULA                                             92591    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     438,500.00                     438,500.00   First Lien                                      0           438,500.00                         0.00                      -          555,000.00                    79.01               79.01   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103654058   JACKSONVILLE                                         32257    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     236,800.00                     236,800.00   First Lien                                      0           296,000.00                    59,200.00                      -          296,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.980             0.375       0.0325     0.000               0.4075
      1103654067   BRADENTON                                            34207    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     125,250.00                     125,250.00   First Lien                                      0           158,650.00                    33,400.00                 167000              170000                    75.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103654075   SOUTH GATE                                           90280    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     360,000.00                     360,000.00   First Lien                                      0           450,000.00                    90,000.00                      -          450,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103654097   GRAND LAKE                                           80447    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,200,000.00                    62.50               62.50   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103654102   SAN DIEGO                                            92154    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     555,000.00                     555,000.00   First Lien                                      0           555,000.00                         0.00                      -          740,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103654122   SANTA CLARA                                          95054    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     599,999.00                     599,999.00   First Lien                                      0           749,999.00                   150,000.00                 749999              750000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103654134   WATERFORD                                            95386    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          343,000.00                    72.89               72.89   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103654137   CHATSWORTH                                           91311    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     372,000.00                     372,000.00   First Lien                                      0           465,000.00                    93,000.00                 465000              465000                    80.00              100.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103654139   RESEDA AREA                                          91335    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     390,000.00                     390,000.00   First Lien                                      0           390,000.00                         0.00                      -          520,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103654145   WEST HILLS                                           91307    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     290,000.00                     290,000.00   First Lien                                      0           290,000.00                         0.00                      -          850,000.00                    34.12               34.12   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103654154   RANCHO CUCAMONGA                                     91739    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     417,000.00                     416,521.69   First Lien                                      0           417,000.00                         0.00                      -          801,000.00                    52.06               52.06   No MI                     NO MI                        0                                    5.250             0.250       0.0325     0.000               0.2825
      1103654164   YORBA LINDA                                          92886    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     537,600.00                     537,600.00   First Lien                                      0           587,600.00                    50,000.00                      -        1,100,000.00                    48.88               53.42   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103654170   SUN VALLEY AREA                                      91352    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     424,000.00                     424,000.00   First Lien                                      0           530,000.00                   106,000.00                 530000              530000                    80.00              100.00   No MI                     NO MI                        0                                   7.4500            0.3750       0.0325    0.0000               0.4075
      1103654175   MANTECA                                              95337    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     220,500.00                     220,500.00   First Lien                                      0           220,500.00                         0.00                      -          315,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      1103654179   RIVERSIDE                                            92505    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     343,000.00                     343,000.00   First Lien                                      0           490,000.00                   147,000.00                 490000              495000                    70.00              100.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103654181   DOWNERS GROVE                                        60516    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     262,000.00                     262,000.00   First Lien                                      0           262,000.00                         0.00                      -          375,000.00                    69.87               69.87   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103654186   GARDNERVILLE                                         89410    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     472,000.00                     472,000.00   First Lien                                      0           472,000.00                         0.00                      -          630,000.00                    74.93               74.93   No MI                     NO MI                        0                                    5.800             0.375       0.0325     0.000               0.4075
      1103654188   SANTA ANA                                            92703    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     515,000.00                     515,000.00   First Lien                                      0           515,000.00                         0.00                      -          700,000.00                    73.58               73.58   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103654193   PICO RIVERA                                          90660    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     283,800.00                     283,800.00   First Lien                                      0           283,800.00                         0.00                      -          425,000.00                    66.78               66.78   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103654194   CORONA                                               92880    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     437,000.00                     437,000.00   First Lien                                      0           592,000.00                   155,000.00                      -          630,000.00                    69.37               93.97   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103654232   LOS ANGELES                                          90065    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     200,000.00                     199,805.61   First Lien                                      0           200,000.00                         0.00                      -          600,000.00                    33.34               33.34   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103654251   BRICK                                                08723    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     238,800.00                     238,631.45   First Lien                                      0           298,500.00                    59,700.00                 298500              300000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103654288   PHOENIX                                              85004    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     129,500.00                     129,382.93   First Lien                                      0           129,500.00                         0.00                      -          185,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103654309   PANORAMA CITY AREA                                   91402    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     262,500.00                     262,500.00   First Lien                                      0           262,500.00                         0.00                      -          350,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103654343   POMONA                                               91761    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     150,000.00                     149,850.67   First Lien                                      0           150,000.00                         0.00                      -          390,000.00                    38.47               38.47   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103654355   GLENDALE                                             91207    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     636,000.00                     636,000.00   First Lien                                      0           795,000.00                   159,000.00                 795000              795000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103654356   RIVERSIDE                                            92506    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     388,000.00                     388,000.00   First Lien                                      0           485,000.00                    97,000.00                 485000              500000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103654375   POMONA                                               91767    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     157,000.00                     156,854.58   First Lien                                      0           157,000.00                         0.00                      -          495,000.00                    31.72               31.72   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103654408   DANVILLE                                             94506    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     548,500.00                     548,500.00   First Lien                                      0           548,500.00                         0.00                      -        1,080,000.00                    50.79               50.79   No MI                     NO MI                        0                                    6.300             0.250       0.0325     0.000               0.2825
      1103654416   SOUTH EL MONTE                                       91733    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      90,000.00                      90,000.00   First Lien                                      0            90,000.00                         0.00                      -          440,000.00                    20.46               20.46   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654433   TORRANCE                                             90504    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     502,500.00                     502,500.00   First Lien                                      0           603,000.00                   100,500.00                      -          670,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103654467   FAIRFIELD                                            94534    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     860,000.00                     860,000.00   First Lien                                      0           860,000.00                         0.00                      -        1,075,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103654472   SAN DIEGO                                            92116    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          595,000.00                    55.47               55.47   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103654482   BANNING                                              92220    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     155,000.00                     155,000.00   First Lien                                      0           155,000.00                         0.00                      -          251,000.00                    61.76               61.76   No MI                     NO MI                        0                                    5.375             0.375       0.0325     0.000               0.4075
      1103654489   CENTENNIAL                                           80015    CO                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          430,000.00                    69.77               69.77   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654504   CALEXICO                                             92231    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     208,000.00                     208,000.00   First Lien                                      0           208,000.00                         0.00                      -          260,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103654507   FONTANA                                              92337    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     396,000.00                     395,642.01   First Lien                                      0           396,000.00                         0.00                      -          528,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103654516   INDIO                                                92203    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     198,500.00                     198,500.00   First Lien                                      0           198,500.00                         0.00                      -          285,000.00                    69.65               69.65   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103654522   SAN MARCOS                                           92078    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     359,000.00                     359,000.00   First Lien                                      0           359,000.00                         0.00                      -          452,975.00                    79.26               79.26   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103654534   SUNNYVALE                                            94087    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     225,000.00                     225,000.00   First Lien                                      0           225,000.00                         0.00                      -          375,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103654536   SIERRA MADRE                                         91024    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     210,000.00                     209,800.74   First Lien                                      0           210,000.00                         0.00                      -          860,000.00                    24.42               24.42   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654539   LOS GATOS                                            95032    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     790,000.00                     789,135.30   First Lien                                      0           790,000.00                         0.00                      -        1,350,000.00                    58.52               58.52   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103654546   DELRAY BEACH                                         33483    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           585,000.00                    85,000.00                      -          650,000.00                    76.93               90.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103654548   PERRIS                                               92571    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     340,000.00                     340,000.00   First Lien                                      0           425,000.00                    85,000.00                      -          425,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103654580   EDWARDS                                              81632    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,337,000.00                    56.10               56.10   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103654583   LOS ANGELES                                          90043    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          550,000.00                    54.55               54.55   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654619   CARLSBAD                                             92009    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          534,000.00                    50.57               50.57   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103654622   SALINAS                                              93908    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     485,000.00                     485,000.00   First Lien                                      0           485,000.00                         0.00                      -        1,000,000.00                    48.50               48.50   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654631   MANASSAS PARK                                        20111    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     269,500.00                     269,500.00   First Lien                                      0           365,750.00                    96,250.00                      -          385,000.00                    70.00               95.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103654636   ALLEN                                                75013    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     400,000.00                     400,000.00   First Lien                                      0           475,000.00                    75,000.00                 500000              500000                    80.00               95.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103654637   CORONA                                               92879    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     720,000.00                     720,000.00   First Lien                                      0           720,000.00                         0.00                      -          900,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103654644   RENO                                                 89523    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     356,000.00                     356,000.00   First Lien                                      0           356,000.00                         0.00                      -          692,000.00                    51.45               51.45   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103654688   SLOUGHHOUSE                                          95683    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     380,000.00                     379,639.44   First Lien                                      0           380,000.00                         0.00                      -          625,000.00                    60.80               60.80   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103654691   LYNDEN                                               98264    WA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     174,400.00                     174,253.49   First Lien                                      0           206,900.00                    32,500.00                      -          218,000.00                    80.00               94.91   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103654727   OLD SAYBROOK                                         06475    CT                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     283,500.00                     283,210.96   First Lien                                      0           283,500.00                         0.00                      -          510,000.00                    55.59               55.59   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103654743   NAPERVILLE                                           60540    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                 460000              460000                    78.27               78.27   No MI                     NO MI                        0                                   5.2500            0.3750       0.0325    0.0000               0.4075
      1103654747   MILLBRAE                                             94030    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,000.00                     450,000.00   First Lien                                      0           552,000.00                   102,000.00                      -        1,220,000.00                    36.89               45.25   No MI                     NO MI                        0                                    5.450             0.375       0.0325     0.000               0.4075
      1103654762   HONOLULU                                             96826    HI                             20070401                 20370301   FIXED                   Yes                                             360                    480                          359                     482,800.00                     482,649.00   First Lien                                      0           482,800.00                         0.00                      -          568,000.00                    85.00               85.00   PMI                       LPMI                        22                                    7.695             0.250       0.0325     0.780               1.0625
      1103654772   STERLING                                             20164    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     320,000.00                     320,000.00   First Lien                                      0           400,000.00                    80,000.00                 400000              400000                    80.00              100.00   No MI                     NO MI                        0                                   7.9900            0.3750       0.0325    0.0000               0.4075
      1103654798   LOS ANGELES                                          90063    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                      -          620,000.00                    56.46               56.46   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103654813   WESTCHESTER                                          90045    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     604,000.00                     604,000.00   First Lien                                      0           755,000.00                   151,000.00                 755000              755000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103654822   (NORTHRIDGE AREA) LOS ANG                            91325    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     364,000.00                     364,000.00   First Lien                                      0           455,000.00                    91,000.00                 455000              455000                    80.00              100.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103654829   SUNNYVALE                                            94086    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     417,000.00                     417,000.00   First Lien                                      0           567,000.00                   150,000.00                      -          752,000.00                    55.46               75.40   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103654832   GLENDALE                                             91205    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     432,000.00                     430,514.54   First Lien                                      0           432,000.00                         0.00                      -          725,000.00                    59.59               59.59   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103654837   AUSTIN                                               78729    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     136,000.00                     135,943.03   First Lien                                      0           170,000.00                    34,000.00                 170000              172000                    80.00              100.00   No MI                     NO MI                        0                                  10.2550            0.3750       0.0325    0.0000               0.4075
      1103654858   ARCADIA                                              91006    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     393,750.00                     393,750.00   First Lien                                      0           472,500.00                    78,750.00                      -          525,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103654873   RANCHO PALOS VERDES                                  90275    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     656,000.00                     656,000.00   First Lien                                      0           656,000.00                         0.00                      -        1,400,000.00                    46.86               46.86   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103654878   CARSON                                               90745    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     426,000.00                     426,000.00   First Lien                                      0           426,000.00                         0.00                      -          552,000.00                    77.18               77.18   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103654884   SAN DIEGO                                            92105    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     478,000.00                     478,000.00   First Lien                                      0           597,500.00                   119,500.00                 597500              605000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103654886   CORONA AREA                                          92883    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     451,000.00                     451,000.00   First Lien                                      0           451,000.00                         0.00                      -          575,000.00                    78.44               78.44   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103654901   BENICIA                                              94510    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     331,000.00                     331,000.00   First Lien                                      0           331,000.00                         0.00                      -          545,000.00                    60.74               60.74   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103654905   FORT COLLINS                                         80521    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     151,500.00                     151,500.00   First Lien                                      0           191,900.00                    40,400.00                 202000              210000                    75.00               95.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103654911   AVALON                                               90704    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     390,000.00                     389,611.75   First Lien                                      0           390,000.00                         0.00                      -          935,000.00                    41.72               41.72   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103654936   (WILMINGTON AREA) LOS ANG                            90744    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                      -          600,000.00                    36.67               36.67   No MI                     NO MI                        0                                    5.375             0.375       0.0325     0.000               0.4075
      1103654939   TRABUCO CANYON                                       92679    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                   1,999,900.00                   1,999,900.00   First Lien                                      0         2,399,900.00                   400,000.00                3050000             3100000                    65.58               78.69   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103654942   BELL GARDENS                                         90201    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     574,000.00                     574,000.00   First Lien                                      0           680,000.00                   106,000.00                      -          820,000.00                    70.00               82.93   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      1103654944   HESPERIA                                             92345    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     324,000.00                     324,000.00   First Lien                                      0           324,000.00                         0.00                      -          405,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103654960   LONG BEACH                                           90805    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     398,400.00                     398,400.00   First Lien                                      0           445,900.00                    47,500.00                 498000              500000                    80.00               89.54   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103654975   CLAREMONT                                            91711    CA                             20070401                 20320301   FIXED                   No                                              300                    300                          299                     460,000.00                     459,397.60   First Lien                                      0           610,000.00                   150,000.00                      -          778,900.00                    59.06               78.32   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103654979   CORONA                                               92882    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     535,000.00                     535,000.00   First Lien                                      0           535,000.00                         0.00                      -          810,000.00                    66.05               66.05   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103654980   SYLMAR                                               91342    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     448,000.00                     448,000.00   First Lien                                      0           560,000.00                   112,000.00                 560000              560000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103654985   LAKEWOOD                                             90715    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     324,000.00                     324,000.00   First Lien                                      0           405,000.00                    81,000.00                 405000              408000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103654987   CEDAR                                                55011    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,000.00                     184,000.00   First Lien                                      0           220,000.00                    36,000.00                      -          230,000.00                    80.00               95.66   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103654992   MERCED                                               95340    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     149,800.00                     149,800.00   First Lien                                      0           203,300.00                    53,500.00                 214000              250000                    70.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103655013   VISALIA                                              93291    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          280,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655056   CATHEDRAL CITY                                       92234    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          500,000.00                    54.00               54.00   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103655063   SCOTTSDALE                                           85251    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     494,000.00                     494,000.00   First Lien                                      0           494,000.00                         0.00                      -          745,000.00                    66.31               66.31   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103655080   ARVIN                                                93203    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     158,400.00                     158,270.16   First Lien                                      0           198,000.00                    39,600.00                 198000              198000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103655105   SACRAMENTO                                           95832    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     269,500.00                     269,500.00   First Lien                                      0           385,000.00                   115,500.00                      -          385,000.00                    70.00              100.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103655111   BERKELEY                                             94702    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     525,000.00                     525,000.00   First Lien                                      0           630,000.00                   105,000.00                      -          700,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655133   LOS ANGELES                                          90042    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     320,000.00                     320,000.00   First Lien                                      0           320,000.00                         0.00                      -          470,000.00                    68.09               68.09   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103655137   HESPERIA                                             92345    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     280,800.00                     280,800.00   First Lien                                      0           351,000.00                    70,200.00                 351000              378000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103655142   MORENO VALLEY                                        92557    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     214,000.00                     214,000.00   First Lien                                      0           214,000.00                         0.00                      -          430,000.00                    49.77               49.77   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655143   MONTAGUE                                             96064    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     126,400.00                     126,303.82   First Lien                                      0           158,000.00                    31,600.00                      -          158,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.375             0.250       0.0325     0.000               0.2825
      1103655149   ONTARIO                                              91764    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     296,800.00                     296,800.00   First Lien                                      0           371,000.00                    74,200.00                 371000              383000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103655159   MADERA                                               93637    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     160,000.00                     159,848.18   First Lien                                      0           160,000.00                         0.00                      -          325,000.00                    49.24               49.24   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655161   RIALTO                                               92376    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     285,600.00                     285,600.00   First Lien                                      0           357,000.00                    71,400.00                 357000              357000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103655170   LONG BEACH                                           90813    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     395,000.00                     395,000.00   First Lien                                      0           395,000.00                         0.00                      -          535,000.00                    73.84               73.84   No MI                     NO MI                        0                                    7.125             0.250       0.0325     0.000               0.2825
      1103655209   NAPLES                                               34104    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     164,400.00                     164,400.00   First Lien                                      0           205,500.00                    41,100.00                 205500              230000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103655274   LANCASTER                                            93536    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     432,800.00                     432,800.00   First Lien                                      0           432,800.00                         0.00                      -          550,000.00                    78.70               78.70   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655312   RIVERSIDE                                            92505    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     320,000.00                     320,000.00   First Lien                                      0           360,000.00                    40,000.00                      -          400,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103655330   DENVER                                               80219    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     141,750.00                     141,750.00   First Lien                                      0           141,750.00                         0.00                      -          157,500.00                    90.00               90.00   PMI                       BPMI                        25                                    6.250             0.250       0.0325     0.000               0.2825
      1103655336   FOLLY BEACH                                          29439    SC                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     113,500.00                     113,500.00   First Lien                                      0           113,500.00                         0.00                      -          435,000.00                    26.10               26.10   No MI                     NO MI                        0                                    7.900             0.250       0.0325     0.000               0.2825
      1103655338   SALEM                                                97305    OR                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     152,000.00                     151,852.41   First Lien                                      0           152,000.00                         0.00                      -          230,000.00                    66.09               66.09   No MI                     NO MI                        0                                    6.130             0.250       0.0325     0.000               0.2825
      1103655346   SAN RAMON                                            94583    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          650,000.00                    46.16               46.16   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655353   BAKERSFIELD                                          93313    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     218,200.00                     218,200.00   First Lien                                      0           259,100.00                    40,900.00                 272810              273000                    79.99               94.98   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103655373   MONTCLAIR                                            91763    CA                             20070501                 20370301   FIXED                   Yes                                             360                    480                          360                     263,500.00                     263,500.00   First Lien                                      0           263,500.00                         0.00                      -          465,000.00                    56.67               56.67   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103655379   RIALTO                                               92376    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     253,600.00                     253,600.00   First Lien                                      0           317,000.00                    63,400.00                 317000              317000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103655390   GLENDALE                                             91208    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     525,000.00                     525,000.00   First Lien                                      0           525,000.00                         0.00                      -        1,300,000.00                    40.39               40.39   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655392   SARASOTA                                             34242    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     973,000.00                     973,000.00   First Lien                                      0           973,000.00                         0.00                      -        1,900,000.00                    51.22               51.22   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655427   MURRIETA                                             92563    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     364,000.00                     364,000.00   First Lien                                      0           464,000.00                   100,000.00                      -          525,000.00                    69.34               88.39   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103655438   OAK HILLS                                            92344    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          375,000.00                    66.67               66.67   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655456   LAGUNA BEACH                                         92677    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          825,000.00                    24.25               24.25   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103655471   PLANTATION                                           33317    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     384,000.00                     384,000.00   First Lien                                      0           384,000.00                         0.00                      -          480,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103655477   LAKE WORTH                                           33463    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     204,800.00                     204,732.27   First Lien                                      0           243,200.00                    38,400.00                 256000              287000                    80.00               95.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103655478   SAN JOSE                                             95129    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     607,750.00                     607,750.00   First Lien                                      0           607,750.00                         0.00                      -          935,000.00                    65.00               65.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103655514   MCKINLEYVILLE                                        95519    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          265,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655517   SAN JOSE                                             95125    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     528,000.00                     527,499.01   First Lien                                      0           528,000.00                         0.00                      -        1,050,000.00                    50.29               50.29   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655520   DANVILLE                                             94526    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     650,000.00                     650,000.00   First Lien                                      0           650,000.00                         0.00                1102500             1110000                    58.96               58.96   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103655533   PEORIA                                               85383    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           593,750.00                    93,750.00                      -          625,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103655534   GLENDALE                                             91206    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     476,000.00                     476,000.00   First Lien                                      0           476,000.00                         0.00                      -          815,000.00                    58.41               58.41   No MI                     NO MI                        0                                    5.990             0.250       0.0325     0.000               0.2825
      1103655535   SANTA CLARITA                                        91351    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     318,500.00                     318,500.00   First Lien                                      0           318,500.00                         0.00                      -          460,000.00                    69.24               69.24   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103655556   HUNTINGTON PARK                                      90255    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     409,500.00                     409,500.00   First Lien                                      0           409,500.00                         0.00                      -          585,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103655563   PICO RIVERA                                          90660    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     385,000.00                     385,000.00   First Lien                                      0           385,000.00                         0.00                      -          530,000.00                    72.65               72.65   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103655568   FAIR OAKS                                            95628    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     498,000.00                     498,000.00   First Lien                                      0           498,000.00                         0.00                      -          755,000.00                    65.97               65.97   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103655580   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     495,000.00                     495,000.00   First Lien                                      0           495,000.00                         0.00                      -          940,000.00                    52.66               52.66   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103655594   DUBLIN                                               94568    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                 914105              900000                    55.56               55.56   No MI                     NO MI                        0                                   6.0000            0.2500       0.0325    0.0000               0.2825
      1103655600   KIRKLAND                                             98033    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     980,000.00                     980,000.00   First Lien                                      0           980,000.00                         0.00                1400000             1400000                    70.00               70.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103655601   MIAMI                                                33161    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     126,400.00                     126,400.00   First Lien                                      0           158,000.00                    31,600.00                 158000              162000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103655612   ATWATER                                              95301    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           280,000.00                         0.00                      -          420,000.00                    66.67               66.67   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103655619   LONG BEACH                                           90807    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     497,000.00                     497,000.00   First Lien                                      0           639,000.00                   142,000.00                 710000              730000                    70.00               90.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103655632   HILLSBOROUGH                                         08844    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     286,800.00                     286,587.15   First Lien                                      0           340,575.00                    53,775.00                 358600              360000                    79.98               94.98   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103655644   COLTON                                               92324    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     312,000.00                     312,000.00   First Lien                                      0           312,000.00                         0.00                      -          400,000.00                    78.00               78.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655652   PLAYA DEL REY                                        90293    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     898,000.00                     898,000.00   First Lien                                      0           898,000.00                         0.00                      -        1,235,000.00                    72.72               72.72   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103655655   ESCONDIDO                                            92026    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          525,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103655658   ONTARIO                                              91761    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     337,500.00                     337,500.00   First Lien                                      0           337,500.00                         0.00                      -          450,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655669   ORLANDO                                              32808    FL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     100,200.00                     100,200.00   First Lien                                      0           100,200.00                         0.00                      -          167,000.00                    60.00               60.00   No MI                     NO MI                        0                                    7.550             0.375       0.0325     0.000               0.4075
      1103655672   SCOTTSDALE                                           85255    AZ                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     211,300.00                     211,264.76   Second Lien                               1000000         1,211,300.00                         0.00                1345930             1925000                    90.00               90.00   No MI                     NO MI                        0                                  14.3800            0.5000       0.0325    0.0000               0.5325
      1103655683   LAKEWOOD                                             98499    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     354,150.00                     354,150.00   First Lien                                      0           354,150.00                         0.00                 393500              393500                    90.00               90.00   PMI                       LPMI                        25                                  10.5000            0.3750       0.0325    0.8200               1.2275
      1103655684   MODESTO                                              95351    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      52,500.00                      52,482.86   Second Lien                                262500           315,000.00                         0.00                      -          350,000.00                    90.00               90.00   No MI                     NO MI                        0                                   14.500             0.500       0.0325     0.000               0.5325
      1103655692   HONOLULU                                             96816    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                   1,949,200.00                   1,949,200.00   First Lien                                      0         2,300,000.00                   350,800.00                      -        2,998,800.00                    65.00               76.70   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655694   INDIO                                                92201    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     225,600.00                     225,600.00   First Lien                                      0           225,600.00                         0.00                      -          282,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103655695   LONG BEACH                                           90805    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     506,250.00                     506,250.00   First Lien                                      0           506,250.00                         0.00                 675000              675000                    75.00               75.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103655700   MANTECA                                              95336    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     332,500.00                     332,500.00   First Lien                                      0           411,500.00                    79,000.00                      -          485,000.00                    68.56               84.85   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655702   LAKELAND                                             33813    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          260,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655708   INDIO                                                92203    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     271,000.00                     271,000.00   First Lien                                      0           271,000.00                         0.00                      -          570,000.00                    47.55               47.55   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103655719   FONTANA                                              92336    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     470,700.00                     470,700.00   First Lien                                      0           470,700.00                         0.00                      -          644,000.00                    73.09               73.09   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103655727   SAN CLEMENTE                                         92672    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     900,000.00                     900,000.00   First Lien                                      0           900,000.00                         0.00                      -        1,400,000.00                    64.29               64.29   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103655738   PHOENIX                                              85028    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     472,000.00                     472,000.00   First Lien                                      0           472,000.00                         0.00                      -        1,200,000.00                    39.34               39.34   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103655748   DAMASCUS                                             20872    MD                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     500,000.00                     499,465.47   First Lien                                      0           500,000.00                         0.00                      -        1,320,000.00                    37.88               37.88   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103655751   SANTA ANA                                            92704    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     382,500.00                     382,500.00   First Lien                                      0           510,000.00                   127,500.00                 510000              548000                    75.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103655755   WINTER HAVEN                                         33881    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     127,500.00                     127,500.00   First Lien                                      0           127,500.00                         0.00                      -          170,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655776   LOS ANGELES                                          90033    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          700,000.00                    42.86               42.86   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103655782   PLAYA DEL REY AREA                                   90293    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     566,500.00                     566,500.00   First Lien                                      0           566,500.00                         0.00                      -        2,020,000.00                    28.05               28.05   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103655792   NAPA                                                 94558    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     716,000.00                     716,000.00   First Lien                                      0           895,000.00                   179,000.00                      -          895,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.375             0.250       0.0325     0.000               0.2825
      1103655794   CANYON COUNTRY                                       91387    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     590,400.00                     589,826.17   First Lien                                      0           590,400.00                         0.00                 738000              740000                    80.00               80.00   No MI                     NO MI                        0                                   6.1250            0.2500       0.0325    0.0000               0.2825
      1103655803   EL CAJON                                             92019    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     695,000.00                     695,000.00   First Lien                                      0           695,000.00                         0.00                      -          900,000.00                    77.23               77.23   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103655826   SIMI VALLEY                                          93063    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     566,000.00                     565,394.91   First Lien                                      0           566,000.00                         0.00                      -        1,050,000.00                    53.91               53.91   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103655827   RANCHO CUCAMONGA                                     91739    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     954,550.00                     954,550.00   First Lien                                      0         1,037,800.00                    83,250.00                      -        1,280,000.00                    74.58               81.08   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103655833   ORLANDO                                              32836    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,125,000.00                   1,125,000.00   First Lien                                      0         1,350,000.00                   225,000.00                      -        1,500,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103655874   CHUALAR                                              93925    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     302,500.00                     302,500.00   First Lien                                      0           302,500.00                         0.00                      -        1,200,000.00                    25.21               25.21   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103655891   KISSIMMEE                                            34743    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                      -          275,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103655895   CORONA                                               92882    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     520,000.00                     520,000.00   First Lien                                      0           650,000.00                   130,000.00                 650000              720000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103655913   TAMPA                                                33612    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     142,200.00                     142,145.30   First Lien                                      0           142,200.00                         0.00                      -          158,000.00                    90.00               90.00   PMI                       LPMI                        25                                   10.650             0.375       0.0325     0.970               1.3775
      1103655918   GARDENA                                              90249    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     390,000.00                     390,000.00   First Lien                                      0           520,000.00                   130,000.00                 520000              525000                    75.00              100.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103655925   AUSTIN                                               81410    CO                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     212,500.00                     212,500.00   First Lien                                      0           212,500.00                         0.00                      -          363,000.00                    58.54               58.54   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103655928   ALTADENA                                             91001    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     638,000.00                     638,000.00   First Lien                                      0           638,000.00                         0.00                      -          875,000.00                    72.92               72.92   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103655932   JACKSONVILLE                                         32246    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     246,000.00                     246,000.00   First Lien                                      0           292,125.00                    46,125.00                 307500              322000                    80.00               95.00   No MI                     NO MI                        0                                   5.5000            0.3750       0.0325    0.0000               0.4075
      1103655939   SAN FRANCISCO                                        94112    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     437,500.00                     437,500.00   First Lien                                      0           437,500.00                         0.00                      -          625,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103655950   SACRAMENTO                                           95820    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     224,000.00                     224,000.00   First Lien                                      0           224,000.00                         0.00                      -          280,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103655959   SOUTH GATE                                           90280    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     472,500.00                     472,500.00   First Lien                                      0           567,000.00                    94,500.00                      -          630,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103655978   TUSTIN                                               92780    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          400,000.00                    62.50               62.50   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103656001   LA QUINTA                                            92253    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     265,000.00                     265,000.00   First Lien                                      0           265,000.00                         0.00                      -          387,000.00                    68.48               68.48   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103656015   UPLAND                                               91786    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     195,000.00                     194,801.19   First Lien                                      0           195,000.00                         0.00                 260000              270000                    75.00               75.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103656038   CLOVIS                                               93611    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     364,000.00                     364,000.00   First Lien                                      0           432,000.00                    68,000.00                 455000              500000                    80.00               94.95   No MI                     NO MI                        0                                   8.7500            0.3750       0.0325    0.0000               0.4075
      1103656048   LANTANA                                              76226    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     290,500.00                     290,500.00   First Lien                                      0           394,200.00                   103,700.00                 415000              415000                    70.00               94.99   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      1103656056   PETALUMA                                             94954    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     290,000.00                     290,000.00   First Lien                                      0           290,000.00                         0.00                      -          570,000.00                    50.88               50.88   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103656076   ESTES PARK                                           80517    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     118,300.00                     118,300.00   First Lien                                      0           118,300.00                         0.00                      -          169,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103656103   SAN DIEGO                                            92110    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     175,000.00                     175,000.00   First Lien                                      0           175,000.00                         0.00                      -          520,000.00                    33.66               33.66   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103656108   DOWNEY                                               90240    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     484,000.00                     484,000.00   First Lien                                      0           605,000.00                   121,000.00                 605000              630000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103656109   KISSIMMEE                                            34741    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     223,000.00                     223,000.00   First Lien                                      0           223,000.00                         0.00                      -          279,000.00                    79.93               79.93   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103656134   WHITE PLAINS                                         10607    NY                             20061201                 20361101   FIXED                   No                                              360                    360                          355                     392,000.00                     392,000.00   First Lien                                      0           441,000.00                    49,000.00                      -          490,000.00                    80.00               90.00   No MI                     NO MI                        0                                    8.125             0.250       0.0325     0.000               0.2825
      1103656140   BROOKLYN                                             11215    NY                             20070101                 20361201   FIXED                   No                                              360                    360                          356                     700,000.00                     697,568.82   First Lien                                      0         1,100,000.00                   400,000.00                      -        1,400,000.00                    50.00               78.58   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656141   LAKEWOOD                                             08701    NJ                             20070101                 20361201   FIXED                   No                                              360                    360                          356                     416,000.00                     414,589.99   First Lien                                      0           494,000.00                    78,000.00                 520000              525000                    80.00               95.00   No MI                     NO MI                        0                                   6.8750            0.2500       0.0325    0.0000               0.2825
      1103656142   PATERSON                                             07503    NJ                             20070101                 20361201   FIXED                   No                                              360                    360                          356                     361,600.00                     360,431.15   First Lien                                      0           452,000.00                    90,400.00                 452000              460000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.2500       0.0325    0.0000               0.2825
      1103656145   BROOKLYN                                             11215    NY                             20061201                 20361101   FIXED                   No                                              360                    360                          355                     850,000.00                     846,299.44   First Lien                                      0           850,000.00                         0.00                      -        1,300,000.00                    65.39               65.39   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656146   KEENE                                                03431    NH                             20070101                 20361201   FIXED                   No                                              360                    360                          356                     116,000.00                     115,454.72   First Lien                                      0           130,094.00                    14,094.00                 145000              148000                    80.00               89.72   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103656164   TUSTIN                                               92782    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     255,000.00                     255,000.00   First Lien                                      0           255,000.00                         0.00                      -          340,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103656181   CHEHALIS                                             98532    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           242,250.00                    38,250.00                 255000              255000                    80.00               95.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103656207   OCALA                                                34474    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     232,500.00                     232,500.00   First Lien                                      0           232,500.00                         0.00                      -          265,000.00                    87.74               87.74   PMI                       LPMI                        25                                    6.290             0.250       0.0325     0.460               0.7425
      1103656229   TUALATIN                                             97062    OR                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     345,400.00                     345,400.00   First Lien                                      0           345,400.00                         0.00                      -          930,000.00                    37.14               37.14   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103656234   COMPTON                                              90221    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     321,600.00                     321,600.00   First Lien                                      0           402,000.00                    80,400.00                 402000              410000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103656238   FILLMORE                                             93015    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          505,000.00                    39.61               39.61   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103656247   VISTA                                                92084    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     540,000.00                     540,000.00   First Lien                                      0           540,000.00                         0.00                      -          790,000.00                    68.36               68.36   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103656250   MIRAMAR                                              33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           300,000.00                    60,000.00                      -          300,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.800             0.375       0.0325     0.000               0.4075
      1103656255   CARSON                                               90745    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     431,200.00                     431,200.00   First Lien                                      0           539,000.00                   107,800.00                 539000              540000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103656270   CARSON                                               90746    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     405,500.00                     405,500.00   First Lien                                      0           405,500.00                         0.00                      -          595,000.00                    68.16               68.16   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103656280   ALISO VIEJO                                          92656    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           440,000.00                         0.00                      -          825,000.00                    53.34               53.34   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103656297   COLTON                                               92324    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     325,000.00                     325,000.00   First Lien                                      0           325,000.00                         0.00                      -          415,000.00                    78.32               78.32   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103656341   WOODINVILLE                                          98072    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     342,000.00                     342,000.00   First Lien                                      0           342,000.00                         0.00                      -          530,000.00                    64.53               64.53   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103656391   OAKDALE                                              95361    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     201,600.00                     201,600.00   First Lien                                      0           273,600.00                    72,000.00                 288000              295000                    70.00               95.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103656405   MILPITAS                                             95035    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     355,000.00                     355,000.00   First Lien                                      0           355,000.00                         0.00                      -          705,000.00                    50.36               50.36   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103656415   LA JOLLA                                             92037    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     468,000.00                     468,000.00   First Lien                                      0           585,000.00                   117,000.00                 585000              585000                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103656427   RODEO                                                94547    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     455,000.00                     455,000.00   First Lien                                      0           455,000.00                         0.00                      -          610,000.00                    74.60               74.60   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103656430   LA CRESCENTA                                         91214    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     488,000.00                     488,000.00   First Lien                                      0           488,000.00                         0.00                      -          945,000.00                    51.65               51.65   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103656441   MORENO VALLEY                                        92555    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     344,000.00                     344,000.00   First Lien                                      0           344,000.00                         0.00                      -          430,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.650             0.375       0.0325     0.000               0.4075
      1103656442   OGDEN                                                84401    UT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      75,000.00                      75,000.00   First Lien                                      0            90,000.00                    15,000.00                 100000              100000                    75.00               90.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103656446   FORT MYERS                                           33912    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     202,500.00                     202,500.00   First Lien                                      0           202,500.00                         0.00                      -          233,000.00                    86.91               86.91   PMI                       BPMI                        25                                    6.250             0.375       0.0325     0.000               0.4075
      1103656467   LONG BEACH                                           90814    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     616,000.00                     616,000.00   First Lien                                      0           616,000.00                         0.00                      -          900,000.00                    68.45               68.45   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103656469   SANTA BARBARA                                        93110    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     687,000.00                     687,000.00   First Lien                                      0           687,000.00                         0.00                      -        1,000,000.00                    68.70               68.70   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103656471   NORTHGLENN                                           80234    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     167,200.00                     167,048.85   First Lien                                      0           209,000.00                    41,800.00                 209000              215000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103656473   TORRANCE                                             90503    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     520,000.00                     520,000.00   First Lien                                      0           520,000.00                         0.00                      -          775,000.00                    67.10               67.10   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103656485   SEATTLE                                              98168    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     259,200.00                     259,200.00   First Lien                                      0           259,200.00                         0.00                 324000              340000                    80.00               80.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103656490   SACRAMENTO                                           95828    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     301,500.00                     301,500.00   First Lien                                      0           301,500.00                         0.00                      -          335,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.625             0.375       0.0325     1.410               1.8175
      1103656520   LAGUNA HILLS                                         92653    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     485,000.00                     485,000.00   First Lien                                      0           485,000.00                         0.00                      -          820,000.00                    59.15               59.15   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103656534   CHULA VISTA                                          91915    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,000.00                     450,000.00   First Lien                                      0           570,000.00                   120,000.00                      -          600,000.00                    75.00               95.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103656544   MCCLELLANVILLE                                       29458    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     130,000.00                     130,000.00   First Lien                                      0           130,000.00                         0.00                      -          351,500.00                    36.99               36.99   No MI                     NO MI                        0                                    5.440             0.375       0.0325     0.000               0.4075
      1103656547   PHOENIX                                              85051    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     182,700.00                     182,583.50   First Lien                                      0           182,700.00                         0.00                      -          203,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.250             0.375       0.0325     0.570               0.9775
      1103656568   ALTA LOMA                                            91701    CA                             20070401                 20220301   FIXED                   No                                              180                    180                          179                     650,000.00                     647,643.43   First Lien                                      0           650,000.00                         0.00                      -          860,000.00                    75.59               75.59   No MI                     NO MI                        0                                    5.375             0.250       0.0325     0.000               0.2825
      1103656569   SAN DIEGO                                            92154    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           554,000.00                   137,000.00                      -          560,000.00                    74.47               98.93   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103656570   PEYTON                                               80831    CO                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     299,200.00                     299,200.00   First Lien                                      0           370,000.00                    70,800.00                      -          374,000.00                    80.00               98.94   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103656572   VISTA                                                92084    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     366,700.00                     366,700.00   First Lien                                      0           489,000.00                   122,300.00                 489000              502000                    74.99              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103656583   LONG BEACH                                           90815    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     424,900.00                     424,900.00   First Lien                                      0           607,000.00                   182,100.00                      -          607,000.00                    70.00              100.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103656594   LAKEWOOD                                             90716    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     484,000.00                     484,000.00   First Lien                                      0           544,500.00                    60,500.00                      -          605,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103656613   SALINAS                                              93905    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     398,000.00                     398,000.00   First Lien                                      0           398,000.00                         0.00                      -          500,000.00                    79.60               79.60   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103656618   PASCO                                                99301    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     129,500.00                     129,500.00   First Lien                                      0           175,750.00                    46,250.00                      -          185,000.00                    70.00               95.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103656623   ROSAMOND                                             93560    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     153,000.00                     153,000.00   First Lien                                      0           153,000.00                         0.00                 170000              205000                    90.00               90.00   PMI                       LPMI                        25                                   9.0000            0.3750       0.0325    0.7200               1.1275
      1103656626   IMPERIAL                                             92251    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     150,000.00                     149,864.40   First Lien                                      0           150,000.00                         0.00                      -          215,000.00                    69.77               69.77   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103656631   LONG BEACH                                           90805    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     285,000.00                     285,000.00   First Lien                                      0           285,000.00                         0.00                      -          475,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103656646   FRESNO                                               93703    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,500.00                     185,500.00   First Lien                                      0           238,500.00                    53,000.00                 265000              265000                    70.00               90.00   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      1103656655   CORONA                                               92882    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     298,000.00                     298,000.00   First Lien                                      0           298,000.00                         0.00                      -          490,000.00                    60.82               60.82   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103656679   CHICAGO                                              60621    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     243,750.00                     243,750.00   First Lien                                      0           308,750.00                    65,000.00                 325000              325000                    75.00               95.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103656681   HIGHLAND                                             92346    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     412,000.00                     412,000.00   First Lien                                      0           412,000.00                         0.00                      -          516,000.00                    79.85               79.85   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103656695   VICTORVILLE                                          92392    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     227,500.00                     227,500.00   First Lien                                      0           227,500.00                         0.00                      -          325,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103656739   TAMARAC                                              33321    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           275,000.00                    55,000.00                 275000              275000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103656742   LADSON                                               29456    SC                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      72,800.00                      72,749.90   First Lien                                      0            86,450.00                    13,650.00                  91000               95000                    80.00               95.00   No MI                     NO MI                        0                                   7.8750            0.2500       0.0325    0.0000               0.2825
      1103656750   BUENA PARK                                           90621    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     687,000.00                     687,000.00   First Lien                                      0           687,000.00                         0.00                      -        1,021,000.00                    67.29               67.29   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103656761   TEMECULA                                             92591    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     535,000.00                     535,000.00   First Lien                                      0           535,000.00                         0.00                      -          910,000.00                    58.80               58.80   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103656788   CONROE                                               77303    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      90,000.00                      90,000.00   First Lien                                      0            90,000.00                         0.00                      -          115,000.00                    78.27               78.27   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656798   FORT LAUDERDALE                                      33334    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     116,150.00                     116,150.00   First Lien                                      0           139,350.00                    23,200.00                 154900              155000                    74.99               89.97   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103656804   LA PUENTE                                            91744    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           405,000.00                    45,000.00                      -          450,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103656807   TACOMA                                               98443    WA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     640,000.00                     640,000.00   First Lien                                      0           748,000.00                   108,000.00                      -          815,000.00                    78.53               91.78   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103656818   MORGAN HILL                                          95037    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     649,000.00                     649,000.00   First Lien                                      0           649,000.00                         0.00                      -        1,650,000.00                    39.34               39.34   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103656819   ANAHEIM                                              92806    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     300,000.00                     299,415.35   First Lien                                      0           300,000.00                         0.00                      -          615,000.00                    48.79               48.79   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103656820   SANTA MARIA                                          93454    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     466,050.00                     465,097.36   First Lien                                      0           466,050.00                         0.00                 582620              583000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.2500       0.0325    0.0000               0.2825
      1103656821   GARDEN GROVE                                         92840    CA                             20070301                 20220201   FIXED                   No                                              180                    180                          178                     495,000.00                     491,587.31   First Lien                                      0           495,000.00                         0.00                      -          770,000.00                    64.29               64.29   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103656822   SANTA MARIA                                          93454    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     464,600.00                     463,627.53   First Lien                                      0           464,600.00                         0.00                 580750              581000                    80.00               80.00   No MI                     NO MI                        0                                   5.7500            0.2500       0.0325    0.0000               0.2825
      1103656823   MONTEREY PARK                                        91754    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     435,000.00                     434,956.25   First Lien                                      0           435,000.00                         0.00                 585000              600000                    74.36               74.36   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103656824   BROOMFIELD                                           80020    CO                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     248,000.00                     248,000.00   First Lien                                      0           248,000.00                         0.00                      -          310,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656825   MOUNTAIN CENTER (AREA)                               92561    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     227,250.00                     227,250.00   First Lien                                      0           227,250.00                         0.00                 252500              258000                    90.00               90.00   PMI                       BPMI                        25                                   6.3750            0.2500       0.0325    0.0000               0.2825
      1103656828   COLORADO SPRINGS                                     80919    CO                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     574,000.00                     572,959.39   First Lien                                      0           717,500.00                   143,500.00                 717500              720000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103656829   SANTA BARBARA                                        93109    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     650,000.00                     648,763.30   First Lien                                      0           780,000.00                   130,000.00                      -        1,275,000.00                    50.99               61.18   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103656830   SYLMAR                                               91342    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     266,250.00                     265,743.42   First Lien                                      0           266,250.00                         0.00                      -          355,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103656831   FOUNTAIN VALLEY                                      92708    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     434,000.00                     433,174.27   First Lien                                      0           434,000.00                         0.00                 620000              650000                    70.00               70.00   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103656832   WESTMINSTER                                          92683    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     431,250.00                     430,429.49   First Lien                                      0           431,250.00                         0.00                 575000              600000                    75.00               75.00   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103656833   WESTMINSTER                                          92683    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     512,000.00                     511,049.06   First Lien                                      0           512,000.00                         0.00                      -          650,000.00                    78.77               78.77   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103656836   CHINO                                                91710    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     470,000.00                     470,000.00   First Lien                                      0           720,000.00                   250,000.00                      -          800,000.00                    58.75               90.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103656837   DINUBA                                               93618    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     180,000.00                     179,665.67   First Lien                                      0           180,000.00                         0.00                      -          225,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103656838   OAKDALE                                              95361    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     284,000.00                     283,459.65   First Lien                                      0           284,000.00                         0.00                 524000              524000                    54.20               54.20   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103656839   SANTA CRUZ                                           95060    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     558,000.00                     558,000.00   First Lien                                      0           617,585.00                    59,585.00                      -          850,000.00                    65.65               72.66   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103656840   CORONA                                               92882    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     600,000.00                     598,988.97   First Lien                                      0           672,865.00                    72,865.00                      -          950,000.00                    63.16               70.83   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103656841   GILBERT                                              85296    AZ                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     250,000.00                     249,512.78   First Lien                                      0           250,000.00                         0.00                      -          319,000.00                    78.37               78.37   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103656842   WESTMINSTER                                          92683    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     520,000.00                     519,102.06   First Lien                                      0           520,000.00                         0.00                      -          650,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656843   HANFORD                                              93230    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     559,000.00                     557,936.44   First Lien                                      0           559,000.00                         0.00                      -          716,000.00                    78.08               78.08   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103656844   WESTMINSTER                                          92683    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     470,000.00                     470,000.00   First Lien                                      0           500,000.00                    30,000.00                      -          595,000.00                    79.00               84.04   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103656845   NIPOMO                                               93444    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     720,000.00                     718,630.12   First Lien                                      0           720,000.00                         0.00                 900000              900000                    80.00               80.00   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103656860   LAKEWOOD                                             90712    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     431,000.00                     430,600.81   First Lien                                      0           431,000.00                         0.00                      -          575,000.00                    74.96               74.96   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103656867   DEMOREST                                             30535    GA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     107,910.00                     107,910.00   First Lien                                      0           107,910.00                         0.00                 119900              120000                    90.00               90.00   PMI                       BPMI                        25                                   6.3750            0.2500       0.0325    0.0000               0.2825
      1103656870   STOCKTON                                             95204    CA                             20070201                 20370101   FIXED                   No                                              360                    360                          357                     262,400.00                     262,400.00   First Lien                                      0           311,502.00                    49,102.00                      -          328,000.00                    80.00               94.98   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103656878   MANTECA                                              95337    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103656882   LAHAINA                                              96761    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     478,500.00                     478,500.00   First Lien                                      0           478,500.00                         0.00                      -          638,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103656886   MADERA                                               93638    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     213,000.00                     213,000.00   First Lien                                      0           255,600.00                    42,600.00                      -          284,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103656897   LOS ANGELES                                          90210    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     639,200.00                     638,548.31   First Lien                                      0           639,200.00                         0.00                 799000              799000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103656900   LIVERMORE                                            94550    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     670,000.00                     670,000.00   First Lien                                      0           670,000.00                         0.00                      -        1,285,000.00                    52.14               52.14   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103656911   CRESTLINE AREA                                       92407    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     190,000.00                     189,806.29   First Lien                                      0           190,000.00                         0.00                      -          300,000.00                    63.34               63.34   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103656912   ANAHEIM                                              92805    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     370,000.00                     369,604.45   First Lien                                      0           370,000.00                         0.00                      -          610,000.00                    60.66               60.66   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103656925   HOLLY SPRINGS                                        27540    NC                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     297,011.00                     297,011.00   First Lien                                      0           297,011.00                         0.00                 397011              398000                    74.82               74.82   No MI                     NO MI                        0                                   5.7500            0.2500       0.0325    0.0000               0.2825
      1103656947   SANTA CLARITA                                        91350    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     399,100.00                     399,100.00   First Lien                                      0           399,100.00                         0.00                      -          515,000.00                    77.50               77.50   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103656952   LAS VEGAS                                            89103    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     282,500.00                     282,244.62   First Lien                                      0           342,500.00                    60,000.00                      -          355,000.00                    79.58               96.48   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103657001   MURRIETA                                             92563    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     383,000.00                     383,000.00   First Lien                                      0           383,000.00                         0.00                      -          525,000.00                    72.96               72.96   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103657011   TEMECULA                                             92591    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103657015   FULLERTON                                            92833    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     408,000.00                     408,000.00   First Lien                                      0           510,000.00                   102,000.00                 510000              520000                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103657016   PANORAMA AREA                                        91402    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     421,000.00                     420,610.07   First Lien                                      0           421,000.00                         0.00                      -          530,000.00                    79.44               79.44   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103657044   TEMECULA                                             92592    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     424,000.00                     424,000.00   First Lien                                      0           424,000.00                         0.00                      -          580,000.00                    73.11               73.11   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657053   CITRUS HEIGHTS                                       95621    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,200.00                     185,200.00   First Lien                                      0           185,200.00                         0.00                      -          315,000.00                    58.80               58.80   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657072   RIVERSIDE                                            92508    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     284,000.00                     284,000.00   First Lien                                      0           284,000.00                         0.00                      -          475,000.00                    59.79               59.79   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103657075   FORT WASHINGTON                                      20744    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           575,000.00                   115,000.00                      -          575,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103657098   EL CENTRO                                            92243    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     368,000.00                     368,000.00   First Lien                                      0           368,000.00                         0.00                      -          460,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103657101   OCEANSIDE                                            92057    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     436,000.00                     436,000.00   First Lien                                      0           545,000.00                   109,000.00                 545000              575000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103657105   MODESTO                                              95350    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     236,000.00                     236,000.00   First Lien                                      0           295,000.00                    59,000.00                 295000              305000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103657119   COVINA                                               91723    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     440,000.00                     439,540.61   First Lien                                      0           550,000.00                   110,000.00                      -          550,000.00                    80.00              100.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103657120   BOYNTON BEACH                                        33435    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     198,000.00                     198,000.00   First Lien                                      0           198,000.00                         0.00                      -          264,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103657131   HERCULES                                             94547    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     455,000.00                     455,000.00   First Lien                                      0           455,000.00                         0.00                      -          650,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103657135   LOS ANGELES                                          90025    CA                             20070401                 20370301   FIXED                   Yes                                             360                    480                          359                     310,000.00                     309,838.98   First Lien                                      0           310,000.00                         0.00                      -          950,000.00                    32.64               32.64   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103657143   PETALUMA                                             94952    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     661,000.00                     661,000.00   First Lien                                      0           661,000.00                         0.00                      -          890,000.00                    74.27               74.27   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      1103657154   VALRICO                                              33594    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     156,750.00                     156,750.00   First Lien                                      0           156,750.00                         0.00                      -          209,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103657160   OJAI                                                 93023    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     162,500.00                     162,500.00   First Lien                                      0           162,500.00                         0.00                      -          750,000.00                    21.67               21.67   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103657173   CLEARFIELD                                           84015    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     155,400.00                     155,400.00   First Lien                                      0           210,900.00                    55,500.00                 222100              295700                    69.97               94.96   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103657189   SOUTH PASADENA                                       91030    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     795,000.00                     795,000.00   First Lien                                      0           795,000.00                         0.00                      -        1,350,000.00                    58.89               58.89   No MI                     NO MI                        0                                    5.550             0.375       0.0325     0.000               0.4075
      1103657198   FREEHOLD                                             07728    NJ                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     525,000.00                     524,425.36   First Lien                                      0           525,000.00                         0.00                      -          750,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.500             0.250       0.0325     0.000               0.2825
      1103657201   MARICOPA                                             85239    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     215,000.00                     215,000.00   First Lien                                      0           215,000.00                         0.00                      -          290,000.00                    74.14               74.14   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103657206   LEAGUE CITY                                          77573    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     123,375.00                     123,375.00   First Lien                                      0           148,050.00                    24,675.00                 164500              169000                    75.00               90.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103657219   MCDONOUGH                                            30252    GA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     128,155.00                     128,155.00   First Lien                                      0           128,155.00                         0.00                 134900              142000                    95.00               95.00   PMI                       LPMI                        30                                   8.4700            0.3750       0.0325    0.6800               1.0875
      1103657249   (ENCINO AREA) LOS ANGELES                            91316    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           417,000.00                         0.00                      -          620,000.00                    67.26               67.26   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103657325   MIAMI                                                33173    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     149,391.00                     149,391.00   First Lien                                      0           149,391.00                         0.00                 165990              167000                    90.00               90.00   PMI                       LPMI                        25                                  11.7500            0.3750       0.0325    1.0900               1.4975
      1103657327   MODESTO                                              95354    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     140,900.00                     140,900.00   First Lien                                      0           181,200.00                    40,300.00                 201350              205000                    69.98               90.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103657332   BROCKTON                                             02301    MA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     192,000.00                     191,869.86   First Lien                                      0           192,000.00                         0.00                      -          345,000.00                    55.66               55.66   No MI                     NO MI                        0                                    7.950             0.250       0.0325     0.000               0.2825
      1103657380   NORTH LAS VEGAS                                      89032    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     206,000.00                     206,000.00   First Lien                                      0           257,500.00                    51,500.00                 257500              258000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103657391   ORLANDO                                              32809    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     137,700.00                     137,700.00   First Lien                                      0           137,700.00                         0.00                 153000              153000                    90.00               90.00   PMI                       BPMI                        25                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103657405   JACKSONVILLE                                         32246    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     194,400.00                     194,400.00   First Lien                                      0           194,400.00                         0.00                      -          216,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.625             0.375       0.0325     0.620               1.0275
      1103657413   DAYTONA BEACH                                        32114    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     276,250.00                     276,250.00   First Lien                                      0           276,250.00                         0.00                      -          325,000.00                    85.00               85.00   PMI                       LPMI                        22                                    8.250             0.250       0.0325     0.950               1.2325
      1103657414   MARGATE                                              33068    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     199,000.00                     199,000.00   First Lien                                      0           199,000.00                         0.00                      -          270,000.00                    73.71               73.71   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103657415   SANTA CRUZ                                           95060    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     873,600.00                     873,600.00   First Lien                                      0         1,092,000.00                   218,400.00                1092000             1092000                    80.00              100.00   No MI                     NO MI                        0                                   5.5500            0.3750       0.0325    0.0000               0.4075
      1103657434   MENDOTA                                              93640    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     176,250.00                     176,250.00   First Lien                                      0           176,250.00                         0.00                      -          242,500.00                    72.69               72.69   No MI                     NO MI                        0                                    5.950             0.250       0.0325     0.000               0.2825
      1103657436   CANYON COUNTRY                                       91387    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     403,200.00                     403,200.00   First Lien                                      0           403,200.00                         0.00                      -          504,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103657457   SAN DIEGO                                            92114    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     275,100.00                     275,100.00   First Lien                                      0           275,100.00                         0.00                      -          440,000.00                    62.53               62.53   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103657458   SCHAUMBURG                                           60173    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          675,000.00                    28.89               28.89   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103657464   LAKE ELSINORE                                        92530    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     256,000.00                     256,000.00   First Lien                                      0           304,000.00                    48,000.00                      -          320,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103657466   VISALIA                                              93291    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     289,000.00                     288,712.30   First Lien                                      0           289,000.00                         0.00                      -          717,000.00                    40.31               40.31   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103657467   KILAUEA                                              96722    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -          880,000.00                    68.19               68.19   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103657491   VALLEY SPRINGS                                       95252    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     320,000.00                     320,000.00   First Lien                                      0           320,000.00                         0.00                 400000              400000                    80.00               80.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103657492   LOS ANGELES                                          91343    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     369,000.00                     369,000.00   First Lien                                      0           369,000.00                         0.00                      -          390,000.00                    94.62               94.62   PMI                       LPMI                        30                                    7.125             0.375       0.0325     1.280               1.6875
      1103657494   LONE TREE                                            80124    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     712,000.00                     712,000.00   First Lien                                      0           845,500.00                   133,500.00                      -          890,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103657504   SAN JOSE                                             95126    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     439,200.00                     439,200.00   First Lien                                      0           439,200.00                         0.00                 549000              550280                    80.00               80.00   No MI                     NO MI                        0                                   7.8000            0.3750       0.0325    0.0000               0.4075
      1103657517   WOODLAND HILLS                                       91364    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     700,000.00                     700,000.00   First Lien                                      0           700,000.00                         0.00                      -        1,000,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103657522   EL DORADO HILLS                                      95762    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     355,000.00                     355,000.00   First Lien                                      0           355,000.00                         0.00                      -          900,000.00                    39.45               39.45   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103657537   CHULA VISTA                                          91915    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     355,500.00                     355,500.00   First Lien                                      0           355,500.00                         0.00                      -          380,000.00                    93.56               93.56   PMI                       LPMI                        30                                    6.875             0.375       0.0325     1.180               1.5875
      1103657540   LOS ANGELES                                          91402    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     456,000.00                     456,000.00   First Lien                                      0           513,000.00                    57,000.00                      -          570,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103657542   PHOENIX                                              85033    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     147,920.00                     147,920.00   First Lien                                      0           184,900.00                    36,980.00                 184900              192000                    80.00              100.00   No MI                     NO MI                        0                                   7.4500            0.3750       0.0325    0.0000               0.4075
      1103657547   ESCONDIDO                                            92027    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          610,000.00                    34.43               34.43   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657578   DENVER                                               80202    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     297,600.00                     297,600.00   First Lien                                      0           372,000.00                    74,400.00                 372000              375000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103657590   HUNTINGTON BEACH                                     92647    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     537,000.00                     537,000.00   First Lien                                      0           537,000.00                         0.00                      -          720,000.00                    74.59               74.59   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103657592   DENVER                                               80202    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     575,850.00                     575,850.00   First Lien                                      0           707,850.00                   132,000.00                      -          950,000.00                    60.62               74.52   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103657604   DORAL                                                33178    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     260,792.00                     260,792.00   First Lien                                      0           260,792.00                         0.00                 325990              326000                    80.00               80.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103657616   LEHI                                                 84043    UT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     230,550.00                     230,550.00   First Lien                                      0           307,400.00                    76,850.00                 307439              317000                    75.00               99.99   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103657623   SAN DIEGO                                            92122    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          300,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657625   CORONA                                               92883    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          750,000.00                    44.00               44.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657629   SAN DIEGO                                            92122    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          300,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657631   CANYON COUNTRY                                       91351    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                      -          770,000.00                    58.45               58.45   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657637   CORONA                                               92883    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     429,600.00                     429,600.00   First Lien                                      0           429,600.00                         0.00                      -          537,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103657652   OCEANSIDE                                            92054    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     412,000.00                     412,000.00   First Lien                                      0           412,000.00                         0.00                      -          545,000.00                    75.60               75.60   No MI                     NO MI                        0                                    7.500             0.250       0.0325     0.000               0.2825
      1103657672   QUARTZ HILL (AREA)                                   93536    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     352,000.00                     352,000.00   First Lien                                      0           396,000.00                    44,000.00                      -          440,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657676   ONTARIO                                              91761    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     372,000.00                     372,000.00   First Lien                                      0           465,000.00                    93,000.00                 465000              465000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103657683   LOS ANGELES                                          90067    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     426,000.00                     426,000.00   First Lien                                      0           426,000.00                         0.00                      -          695,000.00                    61.30               61.30   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657685   SEATTLE                                              98133    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     192,500.00                     192,500.00   First Lien                                      0           192,500.00                         0.00                      -          335,000.00                    57.47               57.47   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103657697   YORBA LINDA                                          92887    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     302,400.00                     302,400.00   First Lien                                      0           378,000.00                    75,600.00                 378000              400000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103657711   SAN BERNARDINO AREA                                  92407    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     208,000.00                     208,000.00   First Lien                                      0           208,000.00                         0.00                      -          320,000.00                    65.00               65.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103657722   YORBA LINDA                                          92887    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     324,000.00                     324,000.00   First Lien                                      0           405,000.00                    81,000.00                 405000              405000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103657723   PITTSBURG                                            94565    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     315,000.00                     315,000.00   First Lien                                      0           315,000.00                         0.00                      -          424,000.00                    74.30               74.30   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103657729   POMONA                                               91768    CA                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     356,000.00                     356,000.00   First Lien                                      0           445,000.00                    89,000.00                 445000              455000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103657735   RICHMOND                                             23229    VA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     150,000.00                     149,869.33   First Lien                                      0           150,000.00                         0.00                      -          205,000.00                    73.18               73.18   No MI                     NO MI                        0                                    6.690             0.250       0.0325     0.000               0.2825
      1103657738   MURRIETA                                             92563    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     475,000.00                     475,000.00   First Lien                                      0           475,000.00                         0.00                      -          595,000.00                    79.84               79.84   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657754   GLENDALE                                             91208    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     491,000.00                     490,475.09   First Lien                                      0           491,000.00                         0.00                      -          940,000.00                    52.24               52.24   No MI                     NO MI                        0                                    5.625             0.250       0.0325     0.000               0.2825
      1103657767   BAKERSFIELD                                          93313    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     206,800.00                     206,800.00   First Lien                                      0           258,500.00                    51,700.00                 258580              259000                    79.98               99.97   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103657781   STOCKTON                                             95206    CA                             20070401                 20370401   FIXED                   Yes                                             360                    480                          359                     135,000.00                     134,934.47   First Lien                                      0           135,000.00                         0.00                      -          328,000.00                    41.16               41.16   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103657786   APPLE VALLEY                                         92308    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     222,500.00                     222,500.00   First Lien                                      0           222,500.00                         0.00                      -          300,000.00                    74.17               74.17   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103657787   TORRANCE AREA                                        90501    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     490,000.00                     490,000.00   First Lien                                      0           490,000.00                         0.00                      -          635,000.00                    77.17               77.17   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103657805   LOS ANGELES                                          90011    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     233,000.00                     233,000.00   First Lien                                      0           333,000.00                   100,000.00                      -          425,000.00                    54.83               78.36   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103657808   LOS ANGELES                                          90002    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     344,000.00                     344,000.00   First Lien                                      0           408,500.00                    64,500.00                      -          440,000.00                    78.19               92.85   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657812   FONTANA                                              92336    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     472,000.00                     472,000.00   First Lien                                      0           497,720.00                    25,720.00                      -          590,000.00                    80.00               84.36   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103657814   FONTANA AREA                                         92336    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     307,500.00                     307,500.00   First Lien                                      0           307,500.00                         0.00                      -          390,000.00                    78.85               78.85   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103657833   FONTANA                                              92335    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     284,800.00                     284,800.00   First Lien                                      0           356,000.00                    71,200.00                 356000              356000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103657848   RIVERSIDE                                            92509    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          340,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103657853   SANTA ANA                                            92701    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     498,750.00                     498,750.00   First Lien                                      0           598,500.00                    99,750.00                      -          665,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103657858   LA PUENTE AREA                                       91744    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          462,000.00                    34.64               34.64   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103657867   FORT LAUDERDALE                                      33308    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     960,000.00                     960,000.00   First Lien                                      0           960,000.00                         0.00                      -        3,200,000.00                    30.00               30.00   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103657877   LOS ANGELES                                          90042    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     310,000.00                     310,000.00   First Lien                                      0           310,000.00                         0.00                      -          525,000.00                    59.05               59.05   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103657893   SPOKANE                                              99205    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     128,000.00                     128,000.00   First Lien                                      0           162,000.00                    34,000.00                      -          162,000.00                    79.02              100.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103657911   BEAUMONT                                             92223    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     280,000.00                     280,000.00   First Lien                                      0           350,000.00                    70,000.00                      -          350,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103657924   LAS VEGAS                                            89110    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          252,000.00                    79.37               79.37   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103657942   BAKERSFIELD                                          93307    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     242,000.00                     242,000.00   First Lien                                      0           242,000.00                         0.00                      -          312,000.00                    77.57               77.57   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103657948   SAVANNAH                                             38372    TN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     102,600.00                     102,542.78   First Lien                                      0           102,600.00                         0.00                      -          114,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.900             0.375       0.0325     0.970               1.3775
      1103657955   LOS ANGELES                                          90047    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     368,000.00                     368,000.00   First Lien                                      0           368,000.00                         0.00                      -          460,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103657958   MESA                                                 85207    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     126,400.00                     126,400.00   First Lien                                      0           179,900.00                    53,500.00                      -          193,000.00                    65.50               93.22   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103657967   PHOENIX                                              85087    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     160,900.00                     160,900.00   First Lien                                      0           160,900.00                         0.00                      -          380,000.00                    42.35               42.35   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103657971   RIDDLE                                               97469    OR                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     112,000.00                     112,000.00   First Lien                                      0           112,000.00                         0.00                      -          140,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103657974   NORTH LAS VEGAS                                      89030    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          205,000.00                    78.05               78.05   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103658003   MARICOPA                                             85239    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     220,500.00                     220,500.00   First Lien                                      0           299,250.00                    78,750.00                 315000              329000                    70.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103658030   MARICOPA                                             85239    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     208,950.00                     208,950.00   First Lien                                      0           283,575.00                    74,625.00                 298500              320000                    70.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103658037   CAVE CREEK                                           85331    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     540,000.00                     540,000.00   First Lien                                      0           540,000.00                         0.00                      -          720,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103658041   SCOTTSDALE                                           85251    AZ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     211,000.00                     210,851.08   First Lien                                      0           211,000.00                         0.00                      -          300,000.00                    70.34               70.34   No MI                     NO MI                        0                                    7.750             0.250       0.0325     0.000               0.2825
      1103658044   VISTA                                                92081    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     258,750.00                     258,750.00   First Lien                                      0           258,750.00                         0.00                      -          345,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103658051   CARSON                                               90810    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     412,000.00                     412,000.00   First Lien                                      0           412,000.00                         0.00                      -          515,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103658080   WEST COVINA                                          91790    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -          750,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103658087   OLYMPIA                                              98512    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     130,000.00                     130,000.00   First Lien                                      0           130,000.00                         0.00                      -          200,000.00                    65.00               65.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103658104   CORONA                                               92883    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     310,400.00                     310,400.00   First Lien                                      0           310,400.00                         0.00                      -          850,000.00                    36.52               36.52   No MI                     NO MI                        0                                    5.800             0.375       0.0325     0.000               0.4075
      1103658127   CHINO HILLS                                          91709    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     175,000.00                     175,000.00   First Lien                                      0           175,000.00                         0.00                      -          510,000.00                    34.32               34.32   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103658133   LOS ANGELES AREA                                     90059    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     348,000.00                     348,000.00   First Lien                                      0           348,000.00                         0.00                      -          435,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103658142   SAN MARCOS                                           92069    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     393,750.00                     393,750.00   First Lien                                      0           393,750.00                         0.00                      -          525,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103658149   HONOLULU                                             96815    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     354,900.00                     354,900.00   First Lien                                      0           354,900.00                         0.00                 507000              507000                    70.00               70.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103658170   VACAVILLE                                            95687    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      1103658173   PORTLAND                                             97206    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     108,000.00                     108,000.00   First Lien                                      0           128,250.00                    20,250.00                 135000              140000                    80.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103658187   MIAMI                                                33166    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     320,000.00                     320,000.00   First Lien                                      0           320,000.00                         0.00                 400000              400000                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103658189   CALABASAS (AGOURA HILLS A                            91301    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     576,800.00                     576,800.00   First Lien                                      0           576,800.00                         0.00                      -          824,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.375             0.375       0.0325     0.000               0.4075
      1103658200   PITTSGROVE                                           08318    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     155,400.00                     155,400.00   First Lien                                      0           210,900.00                    55,500.00                 222000              222000                    70.00               95.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103658209   NORWALK                                              06854    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     550,000.00                     550,000.00   First Lien                                      0           550,000.00                         0.00                      -          760,000.00                    72.37               72.37   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103658228   OAKLAND                                              94621    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     295,000.00                     295,000.00   First Lien                                      0           295,000.00                         0.00                      -          575,000.00                    51.31               51.31   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103658234   BERLIN                                               21811    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103658240   RANCHO PALOS VERDES                                  90275    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     850,000.00                     850,000.00   First Lien                                      0           850,000.00                         0.00                      -        1,300,000.00                    65.39               65.39   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103658279   LANCASTER                                            93536    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     202,000.00                     202,000.00   First Lien                                      0           202,000.00                         0.00                      -          350,000.00                    57.72               57.72   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103658281   CLEARLAKE                                            95422    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     211,500.00                     211,500.00   First Lien                                      0           248,150.00                    36,650.00                 282000              282000                    75.00               88.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103658291   CHINO HILLS                                          91709    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     462,000.00                     462,000.00   First Lien                                      0           462,000.00                         0.00                      -          630,000.00                    73.34               73.34   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103658295   HOLLYWOOD                                            33020    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     272,000.00                     272,000.00   First Lien                                      0           340,000.00                    68,000.00                 340000              340000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103658338   DENVER                                               80206    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     968,000.00                     968,000.00   First Lien                                      0           968,000.00                         0.00                1385000             1400000                    69.90               69.90   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103658377   CARLSBAD                                             92011    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     565,000.00                     565,000.00   First Lien                                      0           565,000.00                         0.00                      -          870,000.00                    64.95               64.95   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103658395   LOMPOC                                               93436    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     252,000.00                     252,000.00   First Lien                                      0           252,000.00                         0.00                      -          370,000.00                    68.11               68.11   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103658403   WOODSIDE                                             94062    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     745,000.00                     745,000.00   First Lien                                      0           745,000.00                         0.00                1150000             1150000                    64.79               64.79   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103658418   SOUTH SAN FRANCISCO                                  94080    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          785,000.00                    50.96               50.96   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103658423   OXNARD                                               93035    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     375,000.00                     375,000.00   First Lien                                      0           375,000.00                         0.00                      -          474,000.00                    79.12               79.12   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103658481   SAN JOSE                                             95135    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     520,500.00                     520,500.00   First Lien                                      0           520,500.00                         0.00                      -          995,000.00                    52.32               52.32   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103658503   ANAHEIM                                              92804    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     456,000.00                     456,000.00   First Lien                                      0           570,000.00                   114,000.00                 570000              575000                    80.00              100.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103658540   LOS ANGELES                                          90044    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     470,000.00                     470,000.00   First Lien                                      0           470,000.00                         0.00                      -          610,000.00                    77.05               77.05   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103658544   RIVERSIDE                                            92507    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     294,300.00                     294,300.00   First Lien                                      0           294,300.00                         0.00                      -          327,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.000             0.375       0.0325     1.390               1.7975
      1103658545   LOS ANGELES                                          90032    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     306,000.00                     304,936.55   First Lien                                      0           306,000.00                         0.00                      -          445,000.00                    68.77               68.77   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103658555   HESPERIA                                             92344    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     282,900.00                     282,900.00   First Lien                                      0           353,600.00                    70,700.00                 353684              363040                    79.99               99.98   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103658557   LYNWOOD                                              90262    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     290,500.00                     290,500.00   First Lien                                      0           290,500.00                         0.00                      -          415,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103658591   PASADENA                                             91104    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     680,000.00                     680,000.00   First Lien                                      0           850,000.00                   170,000.00                 850000              850000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103658599   LOS ANGELES                                          90002    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     388,000.00                     388,000.00   First Lien                                      0           460,750.00                    72,750.00                      -          485,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103658600   LOS ANGELES                                          90061    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     249,375.00                     249,375.00   First Lien                                      0           315,875.00                    66,500.00                 332500              395000                    75.00               95.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103658601   FONTANA                                              92336    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           600,000.00                   120,000.00                      -          600,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103658602   BUENA PARK                                           90621    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     428,000.00                     428,000.00   First Lien                                      0           535,000.00                   107,000.00                 535000              540000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103658603   SAN JUAN CAPISTRANO                                  92675    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     301,000.00                     301,000.00   First Lien                                      0           301,000.00                         0.00                      -          430,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103658604   SAN JUAN CAPISTRANO                                  92675    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     262,500.00                     262,500.00   First Lien                                      0           262,500.00                         0.00                      -          375,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103658605   ALHAMBRA                                             91803    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     500,000.00                     500,000.00   First Lien                                      0           566,500.00                    66,500.00                      -          667,000.00                    74.97               84.94   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103658606   PALMDALE                                             93552    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          320,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103658607   LOS ANGELES                                          91604    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     485,000.00                     485,000.00   First Lien                                      0           485,000.00                         0.00                 865000              865000                    56.07               56.07   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103658608   FREMONT                                              94536    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     215,000.00                     214,924.35   First Lien                                      0           215,000.00                         0.00                      -          520,000.00                    41.35               41.35   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103658609   LOS ANGELES                                          91342    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     440,000.00                     440,000.00   First Lien                                      0           550,000.00                   110,000.00                 550000              555000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103658610   LOS ANGELES                                          91304    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     442,500.00                     442,500.00   First Lien                                      0           560,500.00                   118,000.00                 590000              720000                    75.00               95.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103658611   PALMDALE                                             93551    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     440,000.00                     440,000.00   First Lien                                      0           550,000.00                   110,000.00                 550000              550000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103658612   HESPERIA                                             92345    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     351,000.00                     351,000.00   First Lien                                      0           351,000.00                         0.00                      -          420,000.00                    83.58               83.58   PMI                       BPMI                        12                                    6.375             0.375       0.0325     0.000               0.4075
      1103658613   OAK PARK                                             91377    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     460,000.00                     460,000.00   First Lien                                      0           559,954.00                    99,954.00                      -          815,000.00                    56.45               68.71   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103658614   LOS ANGELES                                          91335    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     531,000.00                     531,000.00   First Lien                                      0           531,000.00                         0.00                      -          780,000.00                    68.08               68.08   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103658615   DIAMOND BAR                                          91765    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          710,000.00                    57.05               57.05   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103658616   LOMITA                                               90717    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          925,000.00                    43.79               43.79   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103658618   PERRIS                                               92570    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     354,392.00                     354,392.00   First Lien                                      0           442,990.00                    88,598.00                 442990              445000                    80.00              100.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103658619   PALMDALE                                             93552    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     288,000.00                     288,000.00   First Lien                                      0           360,000.00                    72,000.00                 360000              360000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103658620   CHICO                                                95928    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     356,250.00                     356,250.00   First Lien                                      0           475,000.00                   118,750.00                      -          475,000.00                    75.00              100.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103658621   SAN JOSE                                             95148    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -          925,000.00                    64.87               64.87   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103658622   PETALUMA                                             94954    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     386,250.00                     386,250.00   First Lien                                      0           515,000.00                   128,750.00                 515000              515000                    75.00              100.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103658623   LAS VEGAS                                            89139    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     187,500.00                     187,500.00   First Lien                                      0           250,000.00                    62,500.00                 250000              250000                    75.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103658625   SAN DIEGO                                            92111    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     344,250.00                     344,250.00   First Lien                                      0           459,000.00                   114,750.00                 459000              459000                    75.00              100.00   No MI                     NO MI                        0                                   5.3750            0.3750       0.0325    0.0000               0.4075
      1103658626   SAN DIEGO                                            92122    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     595,000.00                     595,000.00   First Lien                                      0           595,000.00                         0.00                 888373              920000                    66.98               66.98   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103658627   LA CRESCENTA                                         91214    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     318,750.00                     318,750.00   First Lien                                      0           403,750.00                    85,000.00                 425000              530000                    75.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103658631   EVERETT                                              98208    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     215,250.00                     215,250.00   First Lien                                      0           287,000.00                    71,750.00                      -          287,000.00                    75.00              100.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103658635   SAN BERNARDINO                                       92410    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     150,000.00                     150,000.00   First Lien                                      0           150,000.00                         0.00                      -          298,000.00                    50.34               50.34   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103658661   WESTMINSTER                                          92683    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     520,000.00                     519,430.83   First Lien                                      0           520,000.00                         0.00                      -          765,000.00                    67.98               67.98   No MI                     NO MI                        0                                    5.500             0.250       0.0325     0.000               0.2825
      1103658667   TAYLORS FALLS                                        55084    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     118,930.00                     118,929.37   First Lien                                      0           161,405.00                    42,475.00                 169900              172000                    70.00               95.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103658676   EL SEGUNDO                                           90245    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     802,500.00                     802,500.00   First Lien                                      0           802,500.00                         0.00                      -        1,070,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103658689   JACKSONVILLE                                         32244    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     125,250.00                     125,250.00   First Lien                                      0           125,250.00                         0.00                      -          167,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      1103658713   FOREST FALLS AREA                                    92339    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     412,000.00                     412,000.00   First Lien                                      0           412,000.00                         0.00                 515000              515000                    80.00               80.00   No MI                     NO MI                        0                                   9.1250            0.3750       0.0325    0.0000               0.4075
      1103658715   SAN JUAN CAPISTRANO                                  92675    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     266,500.00                     266,500.00   First Lien                                      0           266,500.00                         0.00                      -          410,000.00                    65.00               65.00   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103658726   OLYMPIA                                              98512    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     340,000.00                     340,000.00   First Lien                                      0           374,000.00                    34,000.00                      -          425,000.00                    80.00               88.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103658757   ANAHEIM                                              92807    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     305,000.00                     305,000.00   First Lien                                      0           305,000.00                         0.00                      -          600,000.00                    50.84               50.84   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103658783   PALM BEACH GARDENS                                   33410    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     319,900.00                     319,900.00   First Lien                                      0           319,900.00                         0.00                      -          400,000.00                    79.98               79.98   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103658797   FALLBROOK                                            92028    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     680,000.00                     680,000.00   First Lien                                      0           807,500.00                   127,500.00                 850000              875000                    80.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103658812   JACKSONVILLE BEACH                                   32250    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     404,925.00                     404,925.00   First Lien                                      0           404,925.00                         0.00                 539900              539900                    75.00               75.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103658827   BOYNTON BEACH                                        33437    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     288,500.00                     288,205.86   First Lien                                      0           288,500.00                         0.00                      -          400,000.00                    72.13               72.13   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103658828   MILLSTONE                                            08691    NJ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     742,000.00                     742,000.00   First Lien                                      0           900,000.00                   158,000.00                      -        1,060,000.00                    70.00               84.91   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103658831   HOUSTON                                              77008    TX                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     351,200.00                     350,836.71   First Lien                                      0           351,200.00                         0.00                 439000              439000                    80.00               80.00   No MI                     NO MI                        0                                   5.7990            0.2500       0.0325    0.0000               0.2825
      1103658832   INVERNESS                                            34453    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      85,000.00                      84,926.82   First Lien                                      0            85,000.00                         0.00                      -          122,000.00                    69.68               69.68   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103658834   AUSTIN                                               78730    TX                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     508,000.00                     507,482.06   First Lien                                      0           508,000.00                         0.00                 635000              645000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.2500       0.0325    0.0000               0.2825
      1103658835   MIAMI                                                33161    FL                             20070201                 20370101   FIXED                   No                                              360                    360                          357                     416,000.00                     414,784.08   First Lien                                      0           416,000.00                         0.00                      -          520,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.625             0.250       0.0325     0.000               0.2825
      1103658836   ASHBURN                                              20147    VA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     470,000.00                     470,000.00   First Lien                                      0           470,000.00                         0.00                 600000              603000                    78.34               78.34   No MI                     NO MI                        0                                   6.0000            0.2500       0.0325    0.0000               0.2825
      1103658837   WESTPORT                                             06880    CT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     850,000.00                     849,173.85   First Lien                                      0           850,000.00                         0.00                      -        1,290,000.00                    65.90               65.90   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103658838   WEST PALM BEACH                                      33407    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     675,000.00                     674,404.46   First Lien                                      0           675,000.00                         0.00                      -          900,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103658839   MILFORD                                              48381    MI                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     273,750.00                     273,229.15   First Lien                                      0           365,000.00                    91,250.00                      -          365,000.00                    75.00              100.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103658840   BROOKEVILLE                                          20833    MD                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     393,750.00                     393,358.02   First Lien                                      0           393,750.00                         0.00                      -          525,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103658841   OLNEY                                                20832    MD                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     273,000.00                     272,386.79   First Lien                                      0           273,000.00                         0.00                      -          480,000.00                    56.88               56.88   No MI                     NO MI                        0                                    5.375             0.250       0.0325     0.000               0.2825
      1103658842   SHELTON                                              06484    CT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     340,800.00                     340,460.73   First Lien                                      0           383,400.00                    42,600.00                      -          426,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103658846   LITTLE FALLS                                         07424    NJ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     249,000.00                     249,000.00   First Lien                                      0           249,000.00                         0.00                      -          367,000.00                    67.85               67.85   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103658851   COLONIAL BEACH                                       22443    VA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     490,000.00                     489,500.42   First Lien                                      0           490,000.00                         0.00                      -          700,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103658861   ORANGE                                               92865    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     455,200.00                     455,200.00   First Lien                                      0           569,000.00                   113,800.00                 569000              569000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.2500       0.0325    0.0000               0.2825
      1103658877   RESCUE                                               95672    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     410,000.00                     410,000.00   First Lien                                      0           410,000.00                         0.00                      -          705,000.00                    58.16               58.16   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103658886   SIMI VALLEY                                          93063    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     605,000.00                     605,000.00   First Lien                                      0           605,000.00                         0.00                      -          870,000.00                    69.55               69.55   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103658899   MIRAMAR                                              33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     242,250.00                     242,250.00   First Lien                                      0           242,250.00                         0.00                      -          285,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.625             0.375       0.0325     0.840               1.2475
      1103658908   KISSIMMEE                                            34744    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     213,000.00                     213,000.00   First Lien                                      0           213,000.00                         0.00                 237000              237300                    89.88               89.88   PMI                       LPMI                        25                                   6.6900            0.3750       0.0325    0.4200               0.8275
      1103658915   LAWNDALE                                             90260    CA                             20070401                 20220301   FIXED                   No                                              180                    180                          179                      77,000.00                      76,732.40   First Lien                                      0            77,000.00                         0.00                      -          550,000.00                    14.00               14.00   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      1103658930   WINCHESTER                                           92596    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     424,000.00                     424,000.00   First Lien                                      0           467,000.00                    43,000.00                      -          530,000.00                    80.00               88.12   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103658933   TEXAS CITY                                           77590    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      88,500.00                      88,500.00   First Lien                                      0           112,100.00                    23,600.00                 118000              118000                    75.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103658934   SURPRISE                                             85379    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     159,990.00                     159,990.00   First Lien                                      0           199,990.00                    40,000.00                 199990              200000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103658938   ROCKLIN                                              95765    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     438,400.00                     438,400.00   First Lien                                      0           438,400.00                         0.00                      -          548,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103658952   PERRIS                                               92571    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          320,000.00                    62.50               62.50   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103658970   LAGUNA BEACH                                         92653    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     560,000.00                     560,000.00   First Lien                                      0           560,000.00                         0.00                      -          975,000.00                    57.44               57.44   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103658989   DETROIT                                              48203    MI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      74,200.00                      74,200.00   First Lien                                      0           100,700.00                    26,500.00                 106000              106000                    70.00               95.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103658991   MERCER ISLAND                                        98040    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     670,000.00                     669,300.48   First Lien                                      0           670,000.00                         0.00                 860000              863000                    77.91               77.91   No MI                     NO MI                        0                                   5.7500            0.2500       0.0325    0.0000               0.2825
      1103658992   EL MONTE                                             91732    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     313,600.00                     313,600.00   First Lien                                      0           313,600.00                         0.00                 392000              440000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103659047   LAKE STEVENS                                         98258    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     228,800.00                     228,800.00   First Lien                                      0           271,700.00                    42,900.00                 286000              286000                    80.00               95.00   No MI                     NO MI                        0                                   8.6750            0.3750       0.0325    0.0000               0.4075
      1103659060   MURRIETA                                             92563    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          310,000.00                    67.75               67.75   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103659081   SAN PABLO                                            94806    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     295,000.00                     295,000.00   First Lien                                      0           295,000.00                         0.00                      -          463,000.00                    63.72               63.72   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103659106   PAWLEYS ISLAND                                       29585    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     107,100.00                     107,100.00   First Lien                                      0           127,150.00                    20,050.00                 133900              175000                    79.99               94.96   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103659137   WOODBRIDGE                                           22191    VA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     120,000.00                     120,000.00   First Lien                                      0           120,000.00                         0.00                      -          320,000.00                    37.50               37.50   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103659146   SAINT PETERSBURG                                     33713    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     116,000.00                     116,000.00   First Lien                                      0           116,000.00                         0.00                      -          145,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103659150   COVINA                                               91723    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     472,000.00                     472,000.00   First Lien                                      0           472,000.00                         0.00                      -          590,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103659166   PALM DESERT                                          92211    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          510,000.00                    64.71               64.71   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103659176   OLYMPIA                                              98516    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                 340000              340000                    80.00               80.00   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      1103659180   CENTENNIAL                                           80015    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     216,000.00                     215,795.05   First Lien                                      0           216,000.00                         0.00                      -          270,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103659207   HARBOR CITY                                          90710    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     510,400.00                     510,400.00   First Lien                                      0           606,100.00                    95,700.00                 638000              638000                    80.00               95.00   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      1103659209   SANTA ANA                                            92707    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     547,000.00                     547,000.00   First Lien                                      0           547,000.00                         0.00                      -          730,000.00                    74.94               74.94   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103659272   SAN DIEGO                                            92154    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     382,400.00                     382,400.00   First Lien                                      0           478,000.00                    95,600.00                      -          478,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103659284   BAKERSFIELD                                          93313    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     206,200.00                     206,200.00   First Lien                                      0           244,800.00                    38,600.00                 257820              258000                    79.98               94.95   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103659286   COMPTON                                              90221    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          420,000.00                    46.43               46.43   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103659293   LOS ANGELES                                          90037    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     143,000.00                     143,000.00   First Lien                                      0           143,000.00                         0.00                      -          450,000.00                    31.78               31.78   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103659331   RANCHO CORDOVA                                       95670    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     304,000.00                     304,000.00   First Lien                                      0           342,000.00                    38,000.00                      -          380,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103659333   SACRAMENTO                                           95832    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     164,720.00                     164,720.00   First Lien                                      0           195,605.00                    30,885.00                 205900              205900                    80.00               95.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103659341   CENTENNIAL                                           80112    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     217,200.00                     217,200.00   First Lien                                      0           271,500.00                    54,300.00                 271500              272000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103659374   HARTFORD                                             06114    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     224,000.00                     224,000.00   First Lien                                      0           280,000.00                    56,000.00                 280000              280000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103659437   BRENTWOOD AREA                                       90049    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     387,000.00                     387,000.00   First Lien                                      0           387,000.00                         0.00                      -        1,250,000.00                    30.96               30.96   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103659442   LOS ANGELES                                          91307    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          600,000.00                    45.00               45.00   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      1103659473   ALTADENA                                             91001    CA                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     640,000.00                     640,000.00   First Lien                                      0           640,000.00                         0.00                      -          950,000.00                    67.37               67.37   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103659475   BOISE                                                83714    ID                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     550,000.00                     550,000.00   First Lien                                      0           550,000.00                         0.00              700353.53              707000                    78.54               78.54   No MI                     NO MI                        0                                   5.6250            0.2500       0.0325    0.0000               0.2825
      1103659600   DENVER                                               80220    CO                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     542,500.00                     542,500.00   First Lien                                      0           542,500.00                         0.00                      -          775,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103659608   WALNUT                                               91789    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                      -          590,000.00                    59.33               59.33   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103659613   BOCA RATON                                           33434    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     296,000.00                     296,000.00   First Lien                                      0           370,000.00                    74,000.00                 370000              380000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103659637   CENTENNIAL                                           80015    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     178,100.00                     178,100.00   First Lien                                      0           178,100.00                         0.00                      -          250,000.00                    71.24               71.24   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103659639   MORENO VALLEY                                        92557    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     269,000.00                     269,000.00   First Lien                                      0           269,000.00                         0.00                      -          420,000.00                    64.05               64.05   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103659714   GLENDALE                                             91201    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     665,000.00                     664,413.28   First Lien                                      0           665,000.00                         0.00                      -          950,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103659727   SANTA ANA                                            92701    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     448,000.00                     448,000.00   First Lien                                      0           576,000.00                   128,000.00                 640000              680000                    70.00               90.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103659728   POMONA                                               91767    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     144,000.00                     144,000.00   First Lien                                      0           144,000.00                         0.00                      -          440,000.00                    32.73               32.73   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103659753   WHITTIER                                             90606    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     245,000.00                     245,000.00   First Lien                                      0           245,000.00                         0.00                      -          515,000.00                    47.58               47.58   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103659763   ELMWOOD PARK                                         60707    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     352,000.00                     352,000.00   First Lien                                      0           385,000.00                    33,000.00                      -          440,000.00                    80.00               87.50   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103659784   LOS ANGELES                                          90064    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     488,000.00                     488,000.00   First Lien                                      0           488,000.00                         0.00                      -        1,175,000.00                    41.54               41.54   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103659804   SPRING HILL                                          34608    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     157,500.00                     157,500.00   First Lien                                      0           157,500.00                         0.00                      -          210,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103659836   DENVER                                               80246    CO                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     592,500.00                     592,500.00   First Lien                                      0           592,500.00                         0.00                 790000              795000                    75.00               75.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      1103659838   STOCKTON                                             95219    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          850,000.00                    56.48               56.48   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103659840   ANAHEIM HILLS                                        92808    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     873,000.00                     873,000.00   First Lien                                      0           873,000.00                         0.00                1116000             1135000                    78.23               78.23   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103659859   ORLANDO                                              32819    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     144,000.00                     144,000.00   First Lien                                      0           144,000.00                         0.00                 180000              195000                    80.00               80.00   No MI                     NO MI                        0                                   8.7500            0.3750       0.0325    0.0000               0.4075
      1103659884   YORBA LINDA                                          92886    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     343,500.00                     343,500.00   First Lien                                      0           343,500.00                         0.00                      -          700,000.00                    49.08               49.08   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103659922   LAFAYETTE                                            94549    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     700,000.00                     700,000.00   First Lien                                      0           700,000.00                         0.00                      -        1,100,000.00                    63.64               63.64   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103659930   RICHMOND                                             94801    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     176,000.00                     176,000.00   First Lien                                      0           176,000.00                         0.00                      -          631,900.00                    27.86               27.86   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103659944   CULVER CITY                                          90230    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     744,000.00                     744,000.00   First Lien                                      0           834,000.00                    90,000.00                      -          930,000.00                    80.00               89.68   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103659949   VANCOUVER                                            98682    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     110,625.00                     110,625.00   First Lien                                      0           125,375.00                    14,750.00                      -          147,500.00                    75.00               85.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103659952   PICO RIVERA                                          90660    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     145,000.00                     145,000.00   First Lien                                      0           145,000.00                         0.00                      -          475,000.00                    30.53               30.53   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103659990   KIRKWOOD                                             63122    MO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     499,000.00                     498,453.81   First Lien                                      0           499,000.00                         0.00                      -          734,500.00                    67.94               67.94   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      1103660004   DENVER                                               80238    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                 250000              264000                    50.00               50.00   No MI                     NO MI                        0                                   5.5000            0.3750       0.0325    0.0000               0.4075
      1103660022   SAN DIMAS                                            91773    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     449,000.00                     449,000.00   First Lien                                      0           449,000.00                         0.00                      -          585,000.00                    76.76               76.76   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103660033   SAN JOSE                                             95123    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     621,800.00                     621,800.00   First Lien                                      0           621,800.00                         0.00                      -          830,000.00                    74.92               74.92   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103660039   NEWPORT BEACH                                        92662    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     999,999.00                     999,999.00   First Lien                                      0           999,999.00                         0.00                      -        1,825,000.00                    54.80               54.80   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103660053   OCEANSIDE                                            92056    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     528,800.00                     528,800.00   First Lien                                      0           528,800.00                         0.00                 661000              661000                    80.00               80.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      1103660065   TORRANCE                                             90503    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     650,000.00                     650,000.00   First Lien                                      0           778,700.00                   128,700.00                      -          826,000.00                    78.70               94.28   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660094   PHOENIX                                              85024    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     202,500.00                     202,500.00   First Lien                                      0           202,500.00                         0.00                      -          270,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103660127   WEST PALM BEACH                                      33401    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     161,250.00                     161,250.00   First Lien                                      0           161,250.00                         0.00                      -          215,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.170             0.375       0.0325     0.000               0.4075
      1103660147   OXFORD                                               04270    ME                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      95,000.00                      95,000.00   First Lien                                      0            95,000.00                         0.00                      -          180,000.00                    52.78               52.78   No MI                     NO MI                        0                                    7.200             0.250       0.0325     0.000               0.2825
      1103660170   RICHMOND                                             94804    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           440,000.00                         0.00                      -          600,000.00                    73.34               73.34   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103660245   BOCA RATON                                           33428    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     463,500.00                     463,500.00   First Lien                                      0           463,500.00                         0.00                 515000              550000                    90.00               90.00   PMI                       LPMI                        25                                   7.0000            0.3750       0.0325    0.4700               0.8775
      1103660261   MONTAGUE                                             07827    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           255,000.00                    51,000.00                      -          255,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103660271   PANAMA CITY BEACH                                    32413    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     198,000.00                     198,000.00   First Lien                                      0           198,000.00                         0.00                 441660              480000                    44.84               44.84   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103660279   RENO                                                 89509    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                      -          615,000.00                    20.33               20.33   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103660290   SAN DIEGO                                            92154    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          540,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.375             0.250       0.0325     0.000               0.2825
      1103660298   AUSTIN                                               78731    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           417,000.00                         0.00                 735000              735000                    56.74               56.74   No MI                     NO MI                        0                                   5.5000            0.2500       0.0325    0.0000               0.2825
      1103660300   PASO ROBLES                                          93446    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                      -          500,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103660328   LONG BEACH                                           90808    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     260,000.00                     260,000.00   First Lien                                      0           260,000.00                         0.00                      -          510,000.00                    50.99               50.99   No MI                     NO MI                        0                                    6.220             0.375       0.0325     0.000               0.4075
      1103660400   VERADALE                                             99037    WA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     172,500.00                     172,500.00   First Lien                                      0           172,500.00                         0.00                      -          220,000.00                    78.41               78.41   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103660419   PICO RIVERA                                          90660    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     277,750.00                     277,750.00   First Lien                                      0           277,750.00                         0.00                      -          505,000.00                    55.00               55.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660460   ELK GROVE                                            95624    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     369,600.00                     369,600.00   First Lien                                      0           462,000.00                    92,400.00                 462000              465000                    80.00              100.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103660469   PORT SAINT LUCIE                                     34984    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     182,000.00                     182,000.00   First Lien                                      0           182,000.00                         0.00                      -          280,000.00                    65.00               65.00   No MI                     NO MI                        0                                    7.265             0.250       0.0325     0.000               0.2825
      1103660480   SAN MATEO                                            94401    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     462,000.00                     462,000.00   First Lien                                      0           462,000.00                         0.00                      -          770,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103660507   FORT MYERS                                           33907    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     215,650.00                     215,650.00   First Lien                                      0           215,650.00                         0.00                 227000              227000                    95.00               95.00   PMI                       LPMI                        30                                   9.2500            0.3750       0.0325    1.0300               1.4375
      1103660521   MODESTO                                              95354    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     230,300.00                     230,300.00   First Lien                                      0           230,300.00                         0.00                      -          330,000.00                    69.79               69.79   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103660528   IRVINE                                               92604    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           204,000.00                         0.00                      -          425,000.00                    48.00               48.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103660534   CHINO                                                91710    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     299,728.80   First Lien                                      0           300,000.00                         0.00                      -          495,000.00                    60.61               60.61   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103660560   LYNWOOD                                              90262    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     356,000.00                     356,000.00   First Lien                                      0           356,000.00                         0.00                      -          480,000.00                    74.17               74.17   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103660581   BAKERSFIELD                                          93313    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     228,000.00                     228,000.00   First Lien                                      0           228,000.00                         0.00                      -          285,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103660621   NEWPORT NEWS                                         23607    VA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     104,500.00                     104,500.00   First Lien                                      0           104,500.00                         0.00                      -          150,000.00                    69.67               69.67   No MI                     NO MI                        0                                    7.500             0.250       0.0325     0.000               0.2825
      1103660625   MIRAMAR                                              33023    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     120,000.00                     120,000.00   First Lien                                      0           120,000.00                         0.00                      -          190,000.00                    63.16               63.16   No MI                     NO MI                        0                                    8.125             0.375       0.0325     0.000               0.4075
      1103660635   NAPLES                                               34102    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     340,000.00                     340,000.00   First Lien                                      0           340,000.00                         0.00                      -          430,000.00                    79.07               79.07   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      1103660636   RIALTO                                               92376    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          390,000.00                    69.24               69.24   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660640   CONCORD                                              94521    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           337,450.00                    37,450.00                      -          375,000.00                    80.00               89.99   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103660646   IRVINE                                               92620    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     433,000.00                     433,000.00   First Lien                                      0           533,000.00                   100,000.00                      -          850,000.00                    50.95               62.71   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103660651   MANTECA                                              95336    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     303,100.00                     303,100.00   First Lien                                      0           328,100.00                    25,000.00                      -          433,000.00                    70.00               75.78   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660675   MURRIETA                                             92563    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           375,000.00                    75,000.00                 375000              375000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103660684   NORTH LAS VEGAS                                      89031    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     319,992.00                     319,992.00   First Lien                                      0           399,990.00                    79,998.00                 399990              430000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103660694   ONTARIO                                              91761    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     235,000.00                     234,777.02   First Lien                                      0           235,000.00                         0.00                      -          443,000.00                    53.05               53.05   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103660698   RIVERSIDE                                            92504    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          354,000.00                    59.33               59.33   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103660713   MORENO VALLEY                                        92551    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          360,000.00                    58.34               58.34   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      1103660727   VICTORVILLE                                          92392    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     138,500.00                     138,500.00   First Lien                                      0           138,500.00                         0.00                      -          533,000.00                    25.99               25.99   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103660735   SAN LUIS OBISPO                                      93405    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     790,000.00                     789,232.17   First Lien                                      0           790,000.00                         0.00                      -        1,325,000.00                    59.63               59.63   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103660797   CENTERVILLE                                          31028    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                 475000              475000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103660799   MANTECA                                              95336    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     273,000.00                     273,000.00   First Lien                                      0           273,000.00                         0.00                      -          390,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660824   CHINO                                                91710    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     319,000.00                     319,000.00   First Lien                                      0           319,000.00                         0.00                      -          470,000.00                    67.88               67.88   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660862   HYATTSVILLE                                          20785    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     263,000.00                     263,000.00   First Lien                                      0           263,000.00                         0.00                      -          360,000.00                    73.06               73.06   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103660890   WILTON                                               06897    CT                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     550,001.00                     549,384.71   First Lien                                      0           550,001.00                         0.00                 967500             1000000                    56.85               56.85   No MI                     NO MI                        0                                   5.3750            0.2500       0.0325    0.0000               0.2825
      1103660907   DALLAS                                               75209    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     573,100.00                     573,100.00   First Lien                                      0           573,100.00                         0.00                      -        1,119,000.00                    51.22               51.22   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      1103660914   HIGHLAND                                             92346    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     297,500.00                     297,500.00   First Lien                                      0           297,500.00                         0.00                      -          500,000.00                    59.50               59.50   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103660915   LOS ANGELES                                          90011    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     371,000.00                     371,000.00   First Lien                                      0           371,000.00                         0.00                      -          530,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103660917   LOS ANGELES                                          90062    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     432,000.00                     432,000.00   First Lien                                      0           525,000.00                    93,000.00                      -          540,000.00                    80.00               97.23   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103660918   ANTIOCH                                              94531    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     404,000.00                     404,000.00   First Lien                                      0           504,000.00                   100,000.00                 505000              510000                    80.00               99.81   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103660920   BOWIE                                                20720    MD                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     535,000.00                     534,796.17   First Lien                                      0           535,000.00                         0.00                      -          690,000.00                    77.54               77.54   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103660921   BAY POINT                                            94565    CA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     338,000.00                     337,851.99   First Lien                                      0           338,000.00                         0.00                      -          485,000.00                    69.70               69.70   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103660922   TAMPA                                                33625    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     322,905.00                     322,836.03   First Lien                                      0           322,905.00                         0.00                 339900              339900                    95.00               95.00   PMI                       LPMI                        30                                   9.0000            0.3750       0.0325    1.5300               1.9375
      1103660924   PEMBROKE PINES                                       33024    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     248,000.00                     248,000.00   First Lien                                      0           310,000.00                    62,000.00                 310000              310000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103660925   RENO                                                 89521    NV                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     445,000.00                     444,881.46   First Lien                                      0           445,000.00                         0.00                      -          445,000.00                   100.00              100.00   PMI                       LPMI                        35                                    8.250             0.375       0.0325     1.380               1.7875
      1103660926   SAINT AUGUSTINE                                      32086    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     224,499.00                     224,499.00   First Lien                                      0           224,499.00                         0.00                 236315              269000                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    1.3000               1.7075
      1103660927   TARPON SPRINGS                                       34689    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     293,000.00                     292,895.97   First Lien                                      0           293,000.00                         0.00                 293000              295000                   100.00              100.00   PMI                       BPMI                        35                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103660928   PENSACOLA                                            32501    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                      98,910.00                      98,882.67   First Lien                                      0            98,910.00                         0.00                 109900              112000                    90.00               90.00   PMI                       BPMI                        25                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103660929   KISSIMMEE                                            34759    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     152,000.00                     152,000.00   First Lien                                      0           152,000.00                         0.00                 160000              185000                    95.00               95.00   PMI                       LPMI                        30                                   8.6250            0.3750       0.0325    0.8300               1.2375
      1103660930   HOMESTEAD                                            33032    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     366,519.00                     366,313.52   First Lien                                      0           366,519.00                         0.00                 385810              389000                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    1.4100               1.8175
      1103660931   TAVERNIER                                            33070    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                   1,120,000.00                   1,119,035.70   First Lien                                      0         1,120,000.00                         0.00                      -        1,400,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103660932   LANHAM                                               20706    MD                             20070201                 20370301   ARMS                    Yes                                             360                    480                          357                     315,000.00                     314,685.53   First Lien                                      0           315,000.00                         0.00                      -          353,000.00                    89.24               89.24   PMI                       BPMI                        25                                    7.500             0.375       0.0325     0.000               0.4075
      1103660933   LONG BEACH                                           90805    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     466,000.00                     466,000.00   First Lien                                      0           466,000.00                         0.00                 466000              475000                   100.00              100.00   PMI                       LPMI                        35                                   8.7500            0.3750       0.0325    1.4000               1.8075
      1103660934   MENIFEE                                              92584    CA                             20070301                 20370301   ARMS                    Yes                                             360                    480                          358                     298,444.00                     298,199.45   First Lien                                      0           373,055.00                    74,611.00                 373055              373500                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103660935   MIAMI                                                33182    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      67,000.00                      67,000.00   First Lien                                      0            67,000.00                         0.00                      -          240,000.00                    27.92               27.92   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103660936   LEHIGH ACRES                                         33971    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     221,250.00                     221,250.00   First Lien                                      0           221,250.00                         0.00                      -          235,000.00                    94.15               94.15   PMI                       LPMI                        30                                    8.500             0.375       0.0325     1.310               1.7175
      1103660937   RICHMOND                                             23224    VA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     145,000.00                     144,946.67   First Lien                                      0           145,000.00                         0.00                 145000              145000                   100.00              100.00   PMI                       LPMI                        35                                   7.1250            0.3750       0.0325    1.0400               1.4475
      1103660938   BLACKSTONE                                           23824    VA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                      85,000.00                      84,978.95   First Lien                                      0            85,000.00                         0.00                  85000              109200                   100.00              100.00   PMI                       LPMI                        35                                   8.5000            0.3750       0.0325    0.8100               1.2175
      1103660939   SPRINGFIELD                                          22153    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     361,000.00                     361,000.00   First Lien                                      0           361,000.00                         0.00                      -          380,000.00                    95.00               95.00   PMI                       LPMI                        30                                    9.250             0.375       0.0325     1.430               1.8375
      1103660941   SILVER SPRING                                        20902    MD                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     400,000.00                     399,805.86   First Lien                                      0           400,000.00                         0.00                      -          532,000.00                    75.19               75.19   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103660942   CHICAGO                                              60619    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     106,200.00                     106,200.00   First Lien                                      0           106,200.00                         0.00                      -          118,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.375             0.375       0.0325     1.590               1.9975
      1103660943   KISSIMMEE                                            34758    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     191,250.00                     191,171.86   First Lien                                      0           191,250.00                         0.00                      -          225,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.750             0.375       0.0325     0.440               0.8475
      1103660944   RENO                                                 89502    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     212,000.00                     212,000.00   First Lien                                      0           265,000.00                    53,000.00                 265000              265000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103660945   BOCA RATON                                           33486    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     399,600.00                     399,264.29   First Lien                                      0           399,600.00                         0.00                 444000              455000                    90.00               90.00   PMI                       BPMI                        25                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103660946   KISSIMMEE                                            34747    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,500.00                     184,393.85   First Lien                                      0           184,500.00                         0.00                 205000              221000                    90.00               90.00   PMI                       LPMI                        25                                   8.7500            0.3750       0.0325    1.5600               1.9675
      1103660947   MIAMI                                                33168    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     220,000.00                     219,906.93   First Lien                                      0           220,000.00                         0.00                 220000              250000                   100.00              100.00   PMI                       BPMI                        35                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103660948   RENO                                                 89506    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     238,586.00                     238,586.00   First Lien                                      0           298,233.00                    59,647.00                 298233              300000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103660949   JONESBORO                                            30236    GA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     146,300.00                     146,253.31   First Lien                                      0           146,300.00                         0.00                 154000              165000                    95.00               95.00   PMI                       BPMI                        30                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103660950   HIALEAH                                              33015    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     235,410.00                     235,410.00   First Lien                                      0           235,410.00                         0.00                 247800              253000                    95.00               95.00   PMI                       BPMI                        30                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103660951   ORLANDO                                              32824    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     230,000.00                     229,906.03   First Lien                                      0           230,000.00                         0.00                 230000              253500                   100.00              100.00   PMI                       BPMI                        35                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103660952   SARASOTA                                             34243    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     344,850.00                     344,850.00   First Lien                                      0           344,850.00                         0.00                 363000              368000                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103660953   BRADENTON                                            34205    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     139,000.00                     138,906.74   First Lien                                      0           139,000.00                         0.00                      -          174,000.00                    79.89               79.89   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103660954   PERRY HALL                                           21128    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     216,000.00                     215,851.35   First Lien                                      0           216,000.00                         0.00                      -          240,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.875             0.375       0.0325     0.690               1.0975
      1103660955   ORLANDO                                              32801    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     448,000.00                     448,000.00   First Lien                                      0           503,900.00                    55,900.00                      -          560,000.00                    80.00               89.99   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103660959   KISSIMMEE                                            34741    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     171,936.00                     171,936.00   First Lien                                      0           171,936.00                         0.00                 191041              238000                    90.00               90.00   PMI                       LPMI                        25                                   8.3750            0.3750       0.0325    0.7200               1.1275
      1103660960   KISSIMMEE                                            34758    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     198,000.00                     197,916.25   First Lien                                      0           198,000.00                         0.00                      -          220,000.00                    90.00               90.00   PMI                       BPMI                        25                                    6.625             0.375       0.0325     0.000               0.4075
      1103660961   ZEPHYRHILLS                                          33540    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     183,200.00                     183,130.21   First Lien                                      0           183,200.00                         0.00                      -          229,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103660962   MIAMI                                                33193    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     155,920.00                     155,920.00   First Lien                                      0           194,820.00                    38,900.00                 194900              195000                    80.00               99.96   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103660963   LOS ANGELES                                          90001    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     376,000.00                     376,000.00   First Lien                                      0           470,000.00                    94,000.00                 470000              470000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103660964   KISSIMMEE                                            34746    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     230,800.00                     230,731.46   First Lien                                      0           230,800.00                         0.00                 243000              243000                    94.98               94.98   PMI                       LPMI                        30                                   7.8750            0.3750       0.0325    0.7800               1.1875
      1103660965   ORLANDO                                              32817    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     316,993.00                     316,993.00   First Lien                                      0           396,242.00                    79,249.00                 396242              425000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      1103660966   POMPANO BEACH                                        33060    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     144,000.00                     144,000.00   First Lien                                      0           180,000.00                    36,000.00                 180000              180000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103660967   PORT SAINT LUCIE                                     34953    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     251,750.00                     251,619.48   First Lien                                      0           251,750.00                         0.00                 265000              274000                    95.00               95.00   PMI                       LPMI                        30                                   9.2500            0.3750       0.0325    1.4300               1.8375
      1103660968   CAPE CORAL                                           33914    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     193,500.00                     193,500.00   First Lien                                      0           193,500.00                         0.00                      -          215,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.000             0.375       0.0325     0.920               1.3275
      1103660969   CARMEL                                               46033    IN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     187,150.00                     187,042.33   First Lien                                      0           187,150.00                         0.00                 197000              200000                    95.00               95.00   PMI                       LPMI                        30                                   8.7500            0.3750       0.0325    1.4100               1.8175
      1103660970   LADERA RANCH                                         92694    CA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     650,000.00                     649,673.61   First Lien                                      0           650,000.00                         0.00                      -          910,000.00                    71.43               71.43   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103660971   SPRING HILL                                          34610    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     269,000.00                     268,911.04   First Lien                                      0           269,000.00                         0.00                      -          320,000.00                    84.07               84.07   PMI                       LPMI                        22                                    7.500             0.375       0.0325     0.540               0.9475
      1103660972   NORTH PORT                                           34288    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     243,000.00                     242,828.50   First Lien                                      0           243,000.00                         0.00                 270000              270000                    90.00               90.00   PMI                       LPMI                        25                                   7.7500            0.3750       0.0325    0.9900               1.3975
      1103660973   WINTER PARK                                          32789    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     222,300.00                     222,300.00   First Lien                                      0           222,300.00                         0.00                 247000              266000                    90.00               90.00   PMI                       BPMI                        25                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103660974   POMPANO BEACH                                        33060    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     179,900.00                     179,796.50   First Lien                                      0           179,900.00                         0.00                 179900              179900                   100.00              100.00   PMI                       LPMI                        35                                   8.7500            0.3750       0.0325    1.6800               2.0875
      1103660975   ORLANDO                                              32825    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     234,000.00                     233,850.79   First Lien                                      0           234,000.00                         0.00                 260000              260000                    90.00               90.00   PMI                       LPMI                        25                                   8.2500            0.3750       0.0325    0.7100               1.1175
      1103660976   BRADENTON                                            34208    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     212,960.00                     212,875.97   First Lien                                      0           212,960.00                         0.00                 266200              306000                    80.00               80.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103660979   REDONDO BEACH                                        90277    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     440,000.00                     440,000.00   First Lien                                      0           550,000.00                   110,000.00                      -          550,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103660980   DAVENPORT                                            33897    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     285,000.00                     284,934.44   First Lien                                      0           285,000.00                         0.00                 285000              285000                   100.00              100.00   PMI                       LPMI                        35                                   8.7500            0.3750       0.0325    1.7400               2.1475
      1103660981   RENO                                                 89523    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     664,850.00                     664,850.00   First Lien                                      0           789,509.00                   124,659.00                 842667              845000                    78.90               93.70   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103660982   TITUSVILLE                                           32780    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     161,100.00                     161,100.00   First Lien                                      0           161,100.00                         0.00                      -          179,000.00                    90.00               90.00   PMI                       BPMI                        25                                    8.125             0.375       0.0325     0.000               0.4075
      1103660983   SANFORD                                              32773    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     145,350.00                     145,316.56   First Lien                                      0           145,350.00                         0.00                 153000              153000                    95.00               95.00   PMI                       LPMI                        30                                   8.7500            0.3750       0.0325    1.4100               1.8175
      1103660984   NORFOLK                                              23517    VA                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     160,000.00                     159,950.74   First Lien                                      0           160,000.00                         0.00                      -          221,000.00                    72.40               72.40   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103660985   ORLANDO                                              32826    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     204,000.00                     204,000.00   First Lien                                      0           204,000.00                         0.00                 204000              205000                   100.00              100.00   PMI                       BPMI                        35                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103660986   LAKE WORTH                                           33460    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     121,920.00                     121,883.79   First Lien                                      0           121,920.00                         0.00                      -          170,000.00                    71.72               71.72   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103660987   MARIETTA                                             30066    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     161,500.00                     161,500.00   First Lien                                      0           161,500.00                         0.00                 170000              188000                    95.00               95.00   PMI                       LPMI                        30                                   8.1250            0.3750       0.0325    0.8300               1.2375
      1103660988   ORLANDO                                              32822    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     185,600.00                     185,600.00   First Lien                                      0           185,600.00                         0.00                      -          232,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103660989   ORLANDO                                              32829    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     279,920.00                     279,920.00   First Lien                                      0           279,920.00                         0.00                 349900              349900                    80.00               80.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103660992   YUCCA VALLEY                                         92284    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     140,000.00                     140,000.00   First Lien                                      0           140,000.00                         0.00                      -          175,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103660993   APTOS                                                95003    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,020,000.00                    73.53               73.53   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103660994   OCEANSIDE                                            92054    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     459,900.00                     459,900.00   First Lien                                      0           591,200.00                   131,300.00                      -          657,000.00                    70.00               89.99   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103660995   FELTON                                               95018    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     469,000.00                     469,000.00   First Lien                                      0           469,000.00                         0.00                      -          675,000.00                    69.49               69.49   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103660996   SAN PABLO                                            94806    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     336,000.00                     336,000.00   First Lien                                      0           336,000.00                         0.00                      -          420,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660998   EAST WENATCHEE                                       98802    WA                             20070401                 20220301   FIXED                   No                                              180                    180                          179                     173,000.00                     172,417.70   First Lien                                      0           173,000.00                         0.00                      -          269,000.00                    64.32               64.32   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103660999   VACAVILLE                                            95688    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          435,000.00                    45.98               45.98   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103661000   PORTLAND                                             97202    OR                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     245,000.00                     245,000.00   First Lien                                      0           245,000.00                         0.00                      -          350,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103661001   VISALIA                                              93291    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     125,600.00                     125,494.48   First Lien                                      0           125,600.00                         0.00                      -          157,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103661002   SAN DIEGO                                            92108    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     294,000.00                     294,000.00   First Lien                                      0           294,000.00                         0.00                      -          420,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103661003   LAS VEGAS                                            89148    NV                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     329,000.00                     329,000.00   First Lien                                      0           422,953.00                    93,953.00                      -          470,000.00                    70.00               89.99   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661004   VICTORVILLE                                          92394    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     301,000.00                     301,000.00   First Lien                                      0           301,000.00                         0.00                      -          430,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661005   CASA GRANDE                                          85222    AZ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     182,000.00                     182,000.00   First Lien                                      0           208,000.00                    26,000.00                      -          260,000.00                    70.00               80.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103661006   CONIFER                                              80433    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     206,500.00                     206,500.00   First Lien                                      0           273,000.00                    66,500.00                      -          295,000.00                    70.00               92.55   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661007   TUCSON                                               85749    AZ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     336,000.00                     335,688.80   First Lien                                      0           411,500.00                    75,500.00                      -          420,000.00                    80.00               97.98   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661008   QUEEN CREEK                                          85242    AZ                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     469,000.00                     469,000.00   First Lien                                      0           469,000.00                         0.00                      -          640,000.00                    73.29               73.29   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661009   GOLDEN                                               80401    CO                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     131,600.00                     131,489.44   First Lien                                      0           188,000.00                    56,400.00                      -          188,000.00                    70.00              100.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103661010   MISSION VIEJO                                        92692    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     393,000.00                     393,000.00   First Lien                                      0           393,000.00                         0.00                      -          825,000.00                    47.64               47.64   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103661011   TEMECULA                                             92592    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     276,000.00                     276,000.00   First Lien                                      0           375,000.00                    99,000.00                      -          395,000.00                    69.88               94.94   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103661012   ELK GROVE                                            95624    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     215,950.00                     215,745.10   First Lien                                      0           245,950.00                    30,000.00                      -          308,500.00                    70.00               79.73   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103661013   SAN MATEO                                            94402    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          760,000.00                    65.79               65.79   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103661014   VACAVILLE                                            95688    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           503,500.00                    23,500.00                      -          600,000.00                    80.00               83.92   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103661015   RIVERSIDE AREA                                       92509    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                      -          390,000.00                    56.42               56.42   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661016   LONG BEACH                                           90807    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     289,500.00                     289,500.00   First Lien                                      0           289,500.00                         0.00                      -          555,000.00                    52.17               52.17   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      1103661017   COVINA                                               91722    CA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     181,000.00                     181,000.00   First Lien                                      0           181,000.00                         0.00                      -          465,000.00                    38.93               38.93   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103661018   ORLANDO                                              32808    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      76,000.00                      76,000.00   First Lien                                      0            76,000.00                         0.00                      -           95,000.00                    80.00               80.00   No MI                     NO MI                        0                                    9.625             0.375       0.0325     0.000               0.4075
      1103661040   MARTINEZ                                             94553    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     376,000.00                     376,000.00   First Lien                                      0           470,000.00                    94,000.00                 470000              470000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103661057   PALMDALE                                             93550    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     208,000.00                     208,000.00   First Lien                                      0           208,000.00                         0.00                      -          324,000.00                    64.20               64.20   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103661065   TEMPLE CITY                                          91780    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     456,000.00                     456,000.00   First Lien                                      0           456,000.00                         0.00                      -          570,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.750             0.375       0.0325     0.000               0.4075
      1103661077   LANCASTER                                            93535    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          295,000.00                    71.87               71.87   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103661082   CULVER CITY (AREA) LOS AN                            90230    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     370,000.00                     370,000.00   First Lien                                      0           370,000.00                         0.00                      -          710,000.00                    52.12               52.12   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103661087   REDLANDS                                             92374    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     268,000.00                     268,000.00   First Lien                                      0           268,000.00                         0.00                      -          685,000.00                    39.13               39.13   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103661092   SPRING                                               77382    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     539,000.00                     538,423.77   First Lien                                      0           539,000.00                         0.00                      -          770,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      1103661120   SANTA ANA                                            92705    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,375,000.00                    54.55               54.55   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      1103661123   LAUDERHILL                                           33313    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     163,000.00                     163,000.00   First Lien                                      0           163,000.00                         0.00                      -          230,000.00                    70.87               70.87   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103661138   GAITHERSBURG                                         20877    MD                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     134,000.00                     134,000.00   First Lien                                      0           134,000.00                         0.00                      -          340,000.00                    39.42               39.42   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      1103661147   FORT MYERS                                           33907    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     199,500.00                     199,500.00   First Lien                                      0           199,500.00                         0.00                 210000              210000                    95.00               95.00   PMI                       LPMI                        30                                   9.5750            0.3750       0.0325    1.0200               1.4275
      1103661156   POMPANO BEACH                                        33069    FL                             20070201                 20370101   FIXED                   No                                              360                    360                          357                     243,000.00                     242,666.06   First Lien                                      0           243,000.00                         0.00                 270000              270000                    90.00               90.00   PMI                       LPMI                        25                                   9.8750            0.2500       0.0325    0.8200               1.1025
      1103661169   FAIRFIELD                                            94533    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           359,960.00                    79,960.00                      -          400,000.00                    70.00               89.99   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103661176   LA PALMA                                             90623    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     275,000.00                     275,000.00   First Lien                                      0           275,000.00                         0.00                      -          690,000.00                    39.86               39.86   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103661191   HILTON HEAD ISLAND                                   29928    SC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     112,000.00                     111,941.33   First Lien                                      0           112,000.00                         0.00                      -          167,000.00                    67.07               67.07   No MI                     NO MI                        0                                    9.200             0.375       0.0325     0.000               0.4075
      1103661194   HINKLEY AREA                                         92347    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,400.00                     210,400.00   First Lien                                      0           210,400.00                         0.00                      -          263,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      1103661219   AREA OF LOS ANGELES                                  90003    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     461,250.00                     461,250.00   First Lien                                      0           461,250.00                         0.00                      -          615,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103661248   CLOVIS                                               88101    NM                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     167,650.00                     167,650.00   First Lien                                      0           167,650.00                         0.00                      -          239,500.00                    70.00               70.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103661269   LOS ANGELES                                          90047    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     405,600.00                     405,600.00   First Lien                                      0           405,600.00                         0.00                      -          624,000.00                    65.00               65.00   No MI                     NO MI                        0                                    5.990             0.250       0.0325     0.000               0.2825
      1103661279   PORT SAINT LUICE                                     34953    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     218,500.00                     218,500.00   First Lien                                      0           218,500.00                         0.00                 230000              230000                    95.00               95.00   PMI                       BPMI                        30                                   9.5000            0.3750       0.0325    0.0000               0.4075
      1103661288   DRUMS                                                18222    PA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     138,550.00                     138,452.20   First Lien                                      0           138,550.00                         0.00                      -          163,000.00                    85.00               85.00   PMI                       BPMI                        12                                    7.750             0.375       0.0325     0.000               0.4075
      1103661289   LAKE ARIEL                                           18436    PA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     190,500.00                     190,362.12   First Lien                                      0           190,500.00                         0.00                 254000              255000                    75.00               75.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661290   OSPREY                                               34229    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     506,250.00                     506,250.00   First Lien                                      0           506,250.00                         0.00                      -          675,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661291   SARASOTA                                             34239    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     740,000.00                     740,000.00   First Lien                                      0           740,000.00                         0.00                      -        1,255,000.00                    58.97               58.97   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103661292   REVERE                                               02151    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     190,400.00                     190,400.00   First Lien                                      0           238,000.00                    47,600.00                      -          238,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103661293   MARLBOROUGH                                          06447    CT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     234,400.00                     234,400.00   First Lien                                      0           249,000.00                    14,600.00                      -          293,000.00                    80.00               84.99   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103661294   DILLSBURG                                            17019    PA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     178,600.00                     178,477.09   First Lien                                      0           178,600.00                         0.00                 188000              190000                    95.00               95.00   PMI                       LPMI                        30                                   7.8750            0.3750       0.0325    0.9800               1.3875
      1103661295   TOPSFIELD                                            01983    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     700,000.00                     700,000.00   First Lien                                      0           700,000.00                         0.00                      -        1,000,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103661296   NORTH PROVIDENCE                                     02911    RI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     229,500.00                     229,500.00   First Lien                                      0           229,500.00                         0.00                 255000              255000                    90.00               90.00   PMI                       BPMI                        25                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661297   LAKE HARMONY                                         18624    PA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     162,500.00                     162,500.00   First Lien                                      0           162,500.00                         0.00                 212500              264000                    76.48               76.48   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103661299   CHELSEA                                              02150    MA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     301,600.00                     301,600.00   First Lien                                      0           360,272.00                    58,672.00                      -          380,000.00                    79.37               94.81   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103661300   MOSCOW                                               18444    PA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     176,550.00                     176,425.22   First Lien                                      0           176,550.00                         0.00                      -          235,400.00                    75.00               75.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103661301   HAZLETON                                             18202    PA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     137,500.00                     137,218.95   First Lien                                      0           137,500.00                         0.00                 275000              279000                    50.00               50.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103661302   CAMBRIDGE                                            02139    MA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     214,120.00                     214,120.00   First Lien                                      0           267,650.00                    53,530.00                 267650              275000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103661303   EAST STROUDSBURG                                     18301    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     140,000.00                     140,000.00   First Lien                                      0           140,000.00                         0.00                      -          215,000.00                    65.12               65.12   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103661304   BROOKLYN                                             11211    NY                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     501,000.00                     500,931.27   First Lien                                      0           501,000.00                         0.00                      -        1,000,000.00                    50.10               50.10   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103661305   GARFIELD                                             07026    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     447,000.00                     447,000.00   First Lien                                      0           447,000.00                         0.00                      -          610,000.00                    73.28               73.28   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103661306   NEW BEDFORD                                          02740    MA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     196,350.00                     196,350.00   First Lien                                      0           196,350.00                         0.00                      -          231,000.00                    85.00               85.00   PMI                       BPMI                        12                                    8.750             0.375       0.0325     0.000               0.4075
      1103661307   BELMONT                                              03220    NH                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     213,750.00                     213,750.00   First Lien                                      0           285,000.00                    71,250.00                      -          285,000.00                    75.00              100.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103661309   LINWOOD                                              08221    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     177,500.00                     177,500.00   First Lien                                      0           177,500.00                         0.00                 355000              355000                    50.00               50.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103661312   YORBA LINDA                                          92887    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     465,500.00                     465,500.00   First Lien                                      0           465,500.00                         0.00                      -          665,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      1103661342   BAKERSFIELD                                          93312    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     299,500.00                     299,500.00   First Lien                                      0           299,500.00                         0.00                      -          375,000.00                    79.87               79.87   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103661343   LOVELAND                                             80538    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     107,500.00                     107,500.00   First Lien                                      0           107,500.00                         0.00                      -          175,000.00                    61.43               61.43   No MI                     NO MI                        0                                    7.450             0.375       0.0325     0.000               0.4075
      1103661354   NANTUCKET                                            02554    MA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     583,000.00                     583,000.00   First Lien                                      0           583,000.00                         0.00                      -        1,200,000.00                    48.59               48.59   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103661401   OAKLAND                                              94621    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          400,000.00                    62.50               62.50   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661403   SANTA ANA                                            92707    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     296,000.00                     295,851.37   First Lien                                      0           296,000.00                         0.00                      -          370,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103661437   QUEEN CREEK                                          85242    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     195,500.00                     195,500.00   First Lien                                      0           195,500.00                         0.00                 230000              230000                    85.00               85.00   PMI                       LPMI                        22                                   9.6000            0.3750       0.0325    0.4400               0.8475
      1103661450   ISSAQUAH                                             98029    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     284,800.00                     284,800.00   First Lien                                      0           338,200.00                    53,400.00                 356000              360000                    80.00               95.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103661482   LONG BEACH                                           90810    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     236,000.00                     236,000.00   First Lien                                      0           236,000.00                         0.00                      -          475,000.00                    49.69               49.69   No MI                     NO MI                        0                                    5.650             0.375       0.0325     0.000               0.4075
      1103661529   CITRUS HEIGHTS                                       95610    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          315,000.00                    63.50               63.50   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103661542   CANYON COUNTRY AREA                                  91387    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     263,000.00                     263,000.00   First Lien                                      0           326,000.00                    63,000.00                      -          385,000.00                    68.32               84.68   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103661563   STEAMBOAT SPRINGS                                    80487    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     454,500.00                     454,500.00   First Lien                                      0           454,500.00                         0.00                 505000              546000                    90.00               90.00   PMI                       LPMI                        25                                   9.0000            0.3750       0.0325    0.7200               1.1275
      1103661564   MIAMI                                                33147    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          310,000.00                    77.42               77.42   No MI                     NO MI                        0                                    7.500             0.250       0.0325     0.000               0.2825
      1103661580   SCOTTSDALE                                           85255    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -        1,600,000.00                    31.25               31.25   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103661586   MERRITT ISLAND                                       32952    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,125,000.00                   1,125,000.00   First Lien                                      0         1,125,000.00                         0.00                      -        1,500,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103661587   BOYNTON BEACH                                        33435    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     159,800.00                     159,631.04   First Lien                                      0           159,800.00                         0.00                      -          188,000.00                    85.00               85.00   PMI                       LPMI                        22                                    9.175             0.375       0.0325     0.780               1.1875
      1103661593   GULFPORT                                             39507    MS                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     142,400.00                     142,400.00   First Lien                                      0           170,900.00                    28,500.00                 189900              190000                    74.99               90.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      1103661638   YERINGTON                                            89447    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     288,000.00                     288,000.00   First Lien                                      0           341,000.00                    53,000.00                      -          360,000.00                    80.00               94.73   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103661647   SAN CLEMENTE                                         92672    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     740,000.00                     740,000.00   First Lien                                      0           740,000.00                         0.00                 925000              925000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.2500       0.0325    0.0000               0.2825
      1103661652   SAN JACINTO                                          92582    CA                             20070101                 20361201   FIXED                   No                                              360                    360                          356                     262,400.00                     262,400.00   First Lien                                      0           328,000.00                    65,600.00                 328000              370000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103661692   LOS ANGELES                                          91344    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     290,000.00                     290,000.00   First Lien                                      0           290,000.00                         0.00                      -          600,000.00                    48.34               48.34   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103661701   LATHROP                                              95330    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                 300000              396000                    90.00               90.00   PMI                       LPMI                        25                                   9.9900            0.3750       0.0325    0.7400               1.1475
      1103661712   SAN CLEMENTE                                         92673    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     476,000.00                     475,628.67   First Lien                                      0           476,000.00                         0.00                      -          680,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103661724   LADERA RANCH                                         92694    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     365,000.00                     365,000.00   First Lien                                      0           365,000.00                         0.00                      -          800,000.00                    45.63               45.63   No MI                     NO MI                        0                                    5.800             0.375       0.0325     0.000               0.4075
      1103661746   RIVERSIDE                                            92505    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     262,500.00                     262,500.00   First Lien                                      0           262,500.00                         0.00                      -          375,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103661747   COVINA                                               91723    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     488,000.00                     488,000.00   First Lien                                      0           610,000.00                   122,000.00                 610000              610000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661781   RANCHO CUCAMONGA                                     91737    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     508,000.00                     508,000.00   First Lien                                      0           508,000.00                         0.00                      -          565,000.00                    89.92               89.92   PMI                       LPMI                        25                                    8.875             0.375       0.0325     1.040               1.4475
      1103661783   EL MONTE                                             91731    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     310,000.00                     309,739.56   First Lien                                      0           310,000.00                         0.00                      -          470,000.00                    65.96               65.96   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103661787   INDIANAPOLIS                                         46239    IN                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     134,400.00                     132,981.00   First Lien                                      0           134,400.00                         0.00                 168000              170000                    80.00               80.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661791   HIALEAH                                              33015    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     201,592.00                     201,592.00   First Lien                                      0           251,990.00                    50,398.00                 251990              252000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661792   NORTH LAUDERDALE                                     33068    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     203,000.00                     203,000.00   First Lien                                      0           228,000.00                    25,000.00                      -          315,000.00                    64.45               72.39   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103661793   PORT SAINT LUCIE                                     34986    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     203,992.00                     203,992.00   First Lien                                      0           254,990.00                    50,998.00                 254990              260000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661794   HIALEAH                                              33015    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           255,000.00                    51,000.00                 255000              260000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661795   PORT SAINT LUCIE                                     34953    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,000.00                     204,000.00   First Lien                                      0           204,000.00                         0.00                      -          255,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661796   PORT SAINT LUCIE                                     34983    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     205,120.00                     205,120.00   First Lien                                      0           256,400.00                    51,280.00                 256400              260000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661797   ARIZONA                                              85236    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     207,950.00                     207,950.00   First Lien                                      0           259,938.00                    51,988.00                 259950              260000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661804   LAKE WORTH                                           33460    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                   1,000,000.00                   1,000,000.00   First Lien                                      0         1,217,949.00                   217,949.00                1295000             1475000                    77.22               94.06   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661806   MONTE SERENO                                         95030    CA                             20070101                 20361201   ARMS                    No                                              360                    360                          356                   1,000,000.00                   1,000,000.00   First Lien                                      0         1,250,000.00                   250,000.00                1250000             1350000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103661807   KEY LARGO                                            33037    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,000,000.00                   1,000,000.00   First Lien                                      0         1,299,600.00                   299,600.00                1368000             1368000                    73.10               95.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661808   DENVER                                               80237    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     138,000.00                     138,000.00   First Lien                                      0           172,500.00                    34,500.00                 172500              175000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661809   NORTH MIAMI BEACH                                    33162    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     140,000.00                     140,000.00   First Lien                                      0           157,500.00                    17,500.00                 175000              175000                    80.00               90.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661810   NORTH MIAMI BEACH                                    33162    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     140,000.00                     140,000.00   First Lien                                      0           157,500.00                    17,500.00                 175000              175000                    80.00               90.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661811   NORTH CHARLESTON                                     29418    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     142,405.00                     142,405.00   First Lien                                      0           142,405.00                         0.00                 149900              150000                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661813   CARMICHAEL                                           95608    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     148,000.00                     148,000.00   First Lien                                      0           185,000.00                    37,000.00                 185000              195000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103661815   ELBERTON                                             30635    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     107,800.00                     107,725.80   First Lien                                      0           107,800.00                         0.00                 113500              115000                    94.98               94.98   PMI                       BPMI                        30                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661816   LAUDERHILL                                           33319    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     108,000.00                     108,000.00   First Lien                                      0           108,000.00                         0.00                 120000              145000                    90.00               90.00   PMI                       BPMI                        25                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661818   HAMTRAMCK                                            48212    MI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      54,800.00                      54,800.00   First Lien                                      0            64,052.00                     9,252.00                      -           72,000.00                    76.12               88.97   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661819   KINGSTREE                                            29556    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      55,350.00                      55,315.59   First Lien                                      0            55,350.00                         0.00                      -           73,800.00                    75.00               75.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661820   HEMINGWAY                                            29554    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      63,750.00                      63,710.37   First Lien                                      0            63,750.00                         0.00                      -           85,500.00                    74.57               74.57   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661821   BROWNVILLE                                           04414    ME                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      66,025.00                      66,025.00   First Lien                                      0            66,025.00                         0.00                  69500               80000                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661822   DETROIT                                              48235    MI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      68,000.00                      67,952.00   First Lien                                      0            68,000.00                         0.00                      -           85,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103661825   RIDGE MANOR                                          33523    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      81,600.00                      81,600.00   First Lien                                      0            81,600.00                         0.00                      -          102,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661826   PORT RICHEY                                          34668    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      82,400.00                      82,400.00   First Lien                                      0            92,700.00                    10,300.00                 103000              120000                    80.00               90.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661827   MIAMI                                                85539    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      82,800.00                      82,800.00   First Lien                                      0            82,800.00                         0.00                  92000               98000                    90.00               90.00   PMI                       LPMI                        25                                   8.2500            0.3750       0.0325    0.7000               1.1075
      1103661829   PENSACOLA                                            32503    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      87,920.00                      87,920.00   First Lien                                      0            87,920.00                         0.00                 109900              138000                    80.00               80.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661830   SPOKANE VALLEY                                       99212    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      90,000.00                      89,931.51   First Lien                                      0            90,000.00                         0.00                      -          126,000.00                    71.43               71.43   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103661831   COLUMBIA                                             65202    MO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      91,040.00                      91,040.00   First Lien                                      0            91,040.00                         0.00                 113800              114000                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661833   LINCOLNTON                                           28092    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      94,000.00                      94,000.00   First Lien                                      0           117,500.00                    23,500.00                 117500              122000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661834   CARY                                                 27511    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      94,400.00                      94,341.32   First Lien                                      0            94,400.00                         0.00                 118000              125000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661835   KERNERSVILLE                                         27284    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     100,700.00                     100,634.10   First Lien                                      0           100,700.00                         0.00                 106000              117500                    95.00               95.00   PMI                       BPMI                        30                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661836   MATTHEWS                                             28105    NC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     103,200.00                     103,200.00   First Lien                                      0           103,200.00                         0.00                 129000              132000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103661839   VERO BEACH                                           32960    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     105,000.00                     105,000.00   First Lien                                      0           140,000.00                    35,000.00                 140000              140000                    75.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661841   LYNCHBURG                                            24502    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     109,600.00                     109,600.00   First Lien                                      0           137,000.00                    27,400.00                 137000              138000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661842   HUDSON                                               34667    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     110,400.00                     110,027.30   First Lien                                      0           110,400.00                         0.00                      -          138,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661843   PHOENIX                                              85027    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     110,400.00                     110,400.00   First Lien                                      0           138,000.00                    27,600.00                 138000              138000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661844   PHOENIX                                              85042    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     112,000.00                     111,928.60   First Lien                                      0           112,000.00                         0.00                 140000              140000                    80.00               80.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661845   ATLANTA                                              30331    GA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     114,260.00                     114,260.00   First Lien                                      0           142,825.00                    28,565.00                 142825              146000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103661846   SWANNANOA                                            28778    NC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     115,200.00                     115,200.00   First Lien                                      0           115,200.00                         0.00                      -          156,000.00                    73.85               73.85   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661848   HIALEAH                                              33010    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     116,000.00                     115,926.00   First Lien                                      0           145,000.00                    29,000.00                 145000              145000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661849   TRENTON                                              08611    NJ                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     116,000.00                     116,000.00   First Lien                                      0           116,000.00                         0.00                      -          145,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661850   HOLLYWOOD                                            33020    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     117,940.00                     117,940.00   First Lien                                      0           147,425.00                    29,485.00                 147425              148000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661851   PHILADELPHIA                                         19149    PA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     120,000.00                     119,684.90   First Lien                                      0           150,000.00                    30,000.00                 150000              150000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661852   HOUSTON                                              77011    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     120,000.00                     119,917.40   First Lien                                      0           120,000.00                         0.00                      -          150,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661853   PORTLAND                                             97236    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     120,000.00                     120,000.00   First Lien                                      0           152,000.00                    32,000.00                 160000              167000                    75.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103661854   WATERBURY                                            06704    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     121,600.00                     121,600.00   First Lien                                      0           136,800.00                    15,200.00                 152000              152000                    80.00               90.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661855   PROVO                                                84604    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     124,000.00                     124,000.00   First Lien                                      0           124,000.00                         0.00                 155000              155000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661856   INDIANAPOLIS                                         46208    IN                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                      -          170,000.00                    73.53               73.53   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      1103661857   FLOWERY BRANCH                                       30542    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     125,600.00                     125,600.00   First Lien                                      0           157,000.00                    31,400.00                 157000              157000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661859   CHARLOTTE                                            28214    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     126,624.00                     126,624.00   First Lien                                      0           126,624.00                         0.00                 158281              162000                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661860   BOURBONNAIS                                          60914    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     211,600.00                     211,600.00   First Lien                                      0           264,500.00                    52,900.00                      -          264,500.00                    80.00              100.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103661861   PORT SAINT LUCIE                                     34983    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     212,000.00                     212,000.00   First Lien                                      0           265,000.00                    53,000.00                      -          265,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661862   MIRAMAR                                              33025    FL                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     213,600.00                     213,600.00   First Lien                                      0           267,000.00                    53,400.00                 267000              270000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661863   UPPER MARLBORO                                       20772    MD                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     213,750.00                     213,750.00   First Lien                                      0           285,000.00                    71,250.00                 285000              312000                    75.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661864   CHARLOTTE                                            28277    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     216,000.00                     216,000.00   First Lien                                      0           216,000.00                         0.00                 240000              243000                    90.00               90.00   PMI                       BPMI                        25                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661865   MOUNT PLEASANT                                       29464    SC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     219,200.00                     219,200.00   First Lien                                      0           274,000.00                    54,800.00                 274000              277000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661866   POMPANO BEACH                                        33064    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           261,250.00                    41,250.00                 275000              285000                    80.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661867   WEST PALM BEACH                                      33412    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     223,920.00                     223,920.00   First Lien                                      0           265,905.00                    41,985.00                 279900              280000                    80.00               95.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661868   BUCKEYE                                              85396    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     223,950.00                     223,950.00   First Lien                                      0           279,938.00                    55,988.00                 279950              281000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661870   GREENSBORO                                           27406    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     131,920.00                     131,920.00   First Lien                                      0           164,900.00                    32,980.00                 164900              179000                    80.00              100.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661872   GULF SHORES                                          36542    AL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     155,920.00                     155,920.00   First Lien                                      0           185,155.00                    29,235.00                 194900              194900                    80.00               95.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661873   MIAMI                                                33173    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     156,000.00                     156,000.00   First Lien                                      0           156,000.00                         0.00                      -          195,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103661874   COLORADO SPRINGS                                     80918    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     156,750.00                     156,644.80   First Lien                                      0           173,750.00                    17,000.00                      -          209,000.00                    75.00               83.14   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661877   ROYAL PALM BEACH                                     33411    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     159,750.00                     159,750.00   First Lien                                      0           213,000.00                    53,250.00                 213000              213000                    75.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      1103661878   PAWTUCKET                                            02860    RI                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     160,000.00                     159,578.90   First Lien                                      0           200,000.00                    40,000.00                 200000              250000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661879   FAIRBURN                                             30213    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     161,764.00                     161,764.00   First Lien                                      0           184,007.00                    22,243.00                 202205              206000                    80.00               91.01   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103661881   FORT LAUDERDALE                                      33311    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     165,750.00                     165,750.00   First Lien                                      0           165,750.00                         0.00                      -          255,000.00                    65.00               65.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661882   WINTER PARK                                          32792    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     166,000.00                     166,000.00   First Lien                                      0           166,000.00                         0.00                      -          207,500.00                    80.00               80.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661883   HIGLEY                                               85236    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     167,950.00                     167,950.00   First Lien                                      0           188,944.00                    20,994.00                 209950              215000                    80.00               90.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661884   THOMASVILLE                                          31792    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     168,000.00                     167,881.40   First Lien                                      0           199,500.00                    31,500.00                      -          210,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103661885   AUSTIN                                               78704    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     169,000.00                     168,894.90   First Lien                                      0           169,000.00                         0.00                 178000              178000                    94.95               94.95   PMI                       BPMI                        30                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661886   WEST SPRINGFIELD                                     01089    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     169,600.00                     169,483.30   First Lien                                      0           169,600.00                         0.00                      -          212,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661887   MAPLEWOOD                                            55109    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     171,000.00                     170,893.70   First Lien                                      0           171,000.00                         0.00                 190000              191000                    90.00               90.00   PMI                       BPMI                        25                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661888   MUNISING                                             49862    MI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     173,610.00                     173,504.80   First Lien                                      0           173,610.00                         0.00                 192900              192900                    90.00               90.00   PMI                       BPMI                        25                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103661890   PORT SAINT LUCIE                                     34953    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     175,920.00                     175,920.00   First Lien                                      0           208,905.00                    32,985.00                 219900              233000                    80.00               95.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661892   MIAMI                                                33173    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     176,000.00                     176,000.00   First Lien                                      0           220,000.00                    44,000.00                 220000              220000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103661893   DURHAM                                               27705    NC                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     179,100.00                     179,100.00   First Lien                                      0           179,100.00                         0.00                      -          238,800.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103661894   SOUTH SAINT PAUL                                     55075    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     180,000.00                     180,000.00   First Lien                                      0           228,000.00                    48,000.00                 240000              240000                    75.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661895   SCOTTSDALE                                           85251    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,000.00                     183,866.80   First Lien                                      0           230,000.00                    46,000.00                 230000              230000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661897   HIGLEY                                               85236    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,000.00                     184,000.00   First Lien                                      0           195,000.00                    11,000.00                      -          230,000.00                    80.00               84.79   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661898   AVONDALE                                             85323    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     187,500.00                     187,500.00   First Lien                                      0           250,000.00                    62,500.00                 250000              256000                    75.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661899   MIAMI                                                33156    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     188,005.00                     187,616.40   First Lien                                      0           188,005.00                         0.00                 197900              198000                    95.00               95.00   PMI                       BPMI                        30                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661900   COVINGTON                                            30014    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     188,000.00                     188,000.00   First Lien                                      0           188,000.00                         0.00                      -          235,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103661901   EDINA                                                55435    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     188,100.00                     188,100.00   First Lien                                      0           188,100.00                         0.00                      -          198,000.00                    95.00               95.00   PMI                       LPMI                        30                                    9.375             0.375       0.0325     1.230               1.6375
      1103661903   CHICAGO                                              60645    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     191,550.00                     191,550.00   First Lien                                      0           242,630.00                    51,080.00                 255400              256000                    75.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661904   WATERBURY                                            06706    CT                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     192,000.00                     191,413.00   First Lien                                      0           192,000.00                         0.00                 240000              240000                    80.00               80.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103661905   GLENDALE                                             85301    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     194,280.00                     194,280.00   First Lien                                      0           242,850.00                    48,570.00                 242850              243000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661907   LAS VEGAS                                            89108    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     195,300.00                     195,300.00   First Lien                                      0           195,300.00                         0.00                      -          280,000.00                    69.75               69.75   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661910   WEST PALM BEACH                                      33409    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     198,400.00                     198,400.00   First Lien                                      0           248,000.00                    49,600.00                 248000              248000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661912   LAS VEGAS                                            89178    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     228,756.00                     228,756.00   First Lien                                      0           285,945.00                    57,189.00                 285945              287000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661913   MOUNT PLEASANT                                       29464    SC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     228,800.00                     228,800.00   First Lien                                      0           228,800.00                         0.00                      -          352,000.00                    65.00               65.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103661915   NEW PORT RICHEY                                      34652    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     232,000.00                     231,654.60   First Lien                                      0           290,000.00                    58,000.00                      -          290,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103661916   MANASSAS                                             20111    VA                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     233,600.00                     233,600.00   First Lien                                      0           292,000.00                    58,400.00                      -          292,000.00                    80.00              100.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661917   EVERETT                                              98201    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     235,500.00                     235,281.90   First Lien                                      0           235,500.00                         0.00                      -          314,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103661918   DENVER                                               80210    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     236,000.00                     236,000.00   First Lien                                      0           236,000.00                         0.00                 295000              319000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661921   PORTLAND                                             97219    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     239,200.00                     239,200.00   First Lien                                      0           299,000.00                    59,800.00                 299000              299000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661922   CHICAGO                                              60619    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     244,000.00                     243,844.40   First Lien                                      0           244,000.00                         0.00                      -          305,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      1103661923   IDAHO FALLS                                          83404    ID                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     246,400.00                     246,400.00   First Lien                                      0           308,000.00                    61,600.00                 308000              310000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103661924   ADAMSTOWN                                            21710    MD                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     247,300.00                     247,300.00   First Lien                                      0           278,200.00                    30,900.00                 309175              311000                    79.99               89.99   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103661925   DACULA                                               30019    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     247,688.00                     247,688.00   First Lien                                      0           247,688.00                         0.00                 260725              261000                    95.00               95.00   PMI                       BPMI                        30                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103661926   TUCSON                                               85716    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     248,000.00                     248,000.00   First Lien                                      0           248,000.00                         0.00                 310000              330000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661927   MALDEN                                               02148    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     248,800.00                     248,800.00   First Lien                                      0           311,000.00                    62,200.00                 311000              320000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661928   PASO ROBLES                                          93446    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          440,000.00                    56.82               56.82   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103661929   MIRAMAR                                              33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     252,000.00                     252,000.00   First Lien                                      0           308,700.00                    56,700.00                      -          315,000.00                    80.00               98.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661930   CHICAGO                                              60678    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     253,500.00                     253,500.00   First Lien                                      0           253,500.00                         0.00                 268233              274000                    94.51               94.51   PMI                       LPMI                        30                                   9.8750            0.3750       0.0325    1.2500               1.6575
      1103661931   ORLANDO                                              32835    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     256,000.00                     256,000.00   First Lien                                      0           320,000.00                    64,000.00                 320000              320000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661932   ATLANTA                                              30315    GA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     256,000.00                     256,000.00   First Lien                                      0           320,000.00                    64,000.00                 320000              320000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661933   BOSTON                                               02122    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     258,750.00                     258,750.00   First Lien                                      0           327,750.00                    69,000.00                 345000              345415                    75.00               95.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661935   CHICAGO                                              60659    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     260,000.00                     259,834.20   First Lien                                      0           308,750.00                    48,750.00                 325000              374000                    80.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661936   CHANDLER                                             85225    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     263,700.00                     263,494.30   First Lien                                      0           263,700.00                         0.00                      -          293,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.250             0.375       0.0325     0.000               0.4075
      1103661937   GURNEE                                               60031    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     268,000.00                     268,000.00   First Lien                                      0           301,500.00                    33,500.00                      -          335,000.00                    80.00               90.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661938   TAMPA                                                33611    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          300,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.375             0.375       0.0325     0.000               0.4075
      1103661939   CAPITOL HEIGHTS                                      20743    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          306,000.00                    88.24               88.24   PMI                       BPMI                        25                                    7.625             0.375       0.0325     0.000               0.4075
      1103661940   BOWIE                                                20716    MD                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     272,250.00                     271,579.40   First Lien                                      0           363,000.00                    90,750.00                      -          363,000.00                    75.00              100.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103661942   DRACUT                                               01826    MA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     276,800.00                     276,800.00   First Lien                                      0           346,000.00                    69,200.00                 346000              359000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661945   STRATFORD                                            06614    CT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     284,000.00                     283,804.60   First Lien                                      0           331,333.00                    47,333.00                      -          365,000.00                    77.81               90.78   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103661946   MIAMI                                                33177    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     284,800.00                     284,800.00   First Lien                                      0           284,800.00                         0.00                      -          356,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661947   CEDAR HILLS                                          84062    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     288,000.00                     288,000.00   First Lien                                      0           324,000.00                    36,000.00                 360000              362000                    80.00               90.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661949   SEATTLE                                              98106    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     292,000.00                     292,000.00   First Lien                                      0           292,000.00                         0.00                      -          365,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103661950   PHILADELPHIA                                         19104    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     292,000.00                     292,000.00   First Lien                                      0           292,000.00                         0.00                      -          365,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103661951   FAIRFAX                                              22030    VA                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     296,000.00                     296,000.00   First Lien                                      0           351,500.00                    55,500.00                 370000              370000                    80.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661952   SEATTLE                                              98106    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     299,200.00                     299,200.00   First Lien                                      0           374,000.00                    74,800.00                 374000              375000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103661953   SAINT PETERSBURG                                     33716    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     300,320.00                     300,113.30   First Lien                                      0           356,630.00                    56,310.00                 375400              379900                    80.00               95.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661954   PEORIA                                               85383    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     304,000.00                     304,000.00   First Lien                                      0           380,000.00                    76,000.00                 380000              383000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661955   GILBERT                                              85297    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     305,550.00                     305,550.00   First Lien                                      0           381,900.00                    76,350.00                 381939              420000                    80.00               99.99   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661956   ASHBURN                                              20147    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     305,600.00                     305,600.00   First Lien                                      0           382,000.00                    76,400.00                 382000              384000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103661958   OAKLAND PARK                                         33309    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     313,600.00                     313,600.00   First Lien                                      0           392,000.00                    78,400.00                 392000              420000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661959   BLOOMINGTON                                          55420    MN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     315,400.00                     315,400.00   First Lien                                      0           315,400.00                         0.00                 332000              351000                    95.00               95.00   PMI                       LPMI                        30                                  10.1250            0.3750       0.0325    1.0200               1.4275
      1103661960   ENGLEWOOD                                            34224    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     317,520.00                     317,520.00   First Lien                                      0           357,210.00                    39,690.00                 396900              410000                    80.00               90.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661961   WADDELL                                              85355    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     320,150.00                     320,150.00   First Lien                                      0           400,188.00                    80,038.00                 400221              412000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661962   NASHUA                                               03062    NH                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     328,000.00                     326,893.30   First Lien                                      0           328,000.00                         0.00                      -          410,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661963   SPRING VALLEY                                        10977    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     328,000.00                     328,000.00   First Lien                                      0           328,000.00                         0.00                 365000              370000                    89.87               89.87   PMI                       LPMI                        25                                   7.5000            0.3750       0.0325    0.3600               0.7675
      1103661964   PHOENIX                                              85016    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     330,200.00                     330,200.00   First Lien                                      0           412,750.00                    82,550.00                 412805              430000                    79.99               99.99   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661965   MARICOPA                                             85239    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     331,700.00                     331,700.00   First Lien                                      0           414,600.00                    82,900.00                 414647              444000                    80.00               99.99   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103661966   MONTGOMERY TWP.                                      08540    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     335,000.00                     335,000.00   First Lien                                      0           335,000.00                         0.00                      -          550,000.00                    60.91               60.91   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103661967   JOLIET                                               60431    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     336,000.00                     336,000.00   First Lien                                      0           420,000.00                    84,000.00                 420000              420000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661968   ORLANDO                                              32832    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     347,000.00                     347,000.00   First Lien                                      0           347,000.00                         0.00                 365269              424000                    95.00               95.00   PMI                       BPMI                        30                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103661969   CLOVER                                               29710    SC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                      -          470,000.00                    74.47               74.47   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103661970   WINTER PARK                                          32789    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     360,000.00                     360,000.00   First Lien                                      0           405,000.00                    45,000.00                      -          450,000.00                    80.00               90.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661972   JERSEY CITY                                          07304    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     370,258.00                     370,027.86   First Lien                                      0           528,940.00                   158,682.00                 528940              528940                    70.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661974   GILBERT                                              85297    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     382,179.00                     382,179.00   First Lien                                      0           429,951.00                    47,772.00                 478484              510000                    79.88               89.86   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103661975   TOMS RIVER                                           08753    NJ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     383,000.00                     382,701.30   First Lien                                      0           383,000.00                         0.00                      -          520,000.00                    73.66               73.66   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103661976   MODESTO                                              95350    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     384,000.00                     384,000.00   First Lien                                      0           480,000.00                    96,000.00                 480000              480000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661978   PEMBROKE PINES                                       33029    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     388,000.00                     388,000.00   First Lien                                      0           485,000.00                    97,000.00                 485000              485000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103661979   ORLANDO                                              32837    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     392,000.00                     392,000.00   First Lien                                      0           490,000.00                    98,000.00                 490000              490000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103661981   SILVER SPRING                                        20902    MD                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     395,200.00                     395,200.00   First Lien                                      0           494,000.00                    98,800.00                 494000              500000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103661982   NAPLES                                               34120    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     397,300.00                     397,300.00   First Lien                                      0           496,625.00                    99,325.00                 496668              520000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103661987   QUEEN CREEK                                          85243    AZ                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     412,000.00                     412,000.00   First Lien                                      0           463,500.00                    51,500.00                      -          515,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103661988   WOODBRIDGE                                           22192    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     412,500.00                     412,500.00   First Lien                                      0           495,000.00                    82,500.00                      -          520,000.00                    79.33               95.20   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103661990   BROOKLYN                                             11212    NY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     504,000.00                     504,000.00   First Lien                                      0           684,000.00                   180,000.00                 720000              720000                    70.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661991   EVANSTON                                             60201    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     551,200.00                     551,200.00   First Lien                                      0           689,000.00                   137,800.00                 689000              689000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661993   MIAMI BEACH                                          33141    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     440,800.00                     440,800.00   First Lien                                      0           523,450.00                    82,650.00                 551000              650000                    80.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103661995   STONE MOUNTAIN                                       30087    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     436,950.00                     436,656.80   First Lien                                      0           436,950.00                         0.00                 490970              490000                    89.18               89.18   PMI                       LPMI                        25                                   8.0000            0.3750       0.0325    0.2500               0.6575
      1103661996   BOLINGBROOK                                          60440    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           440,000.00                         0.00                      -          550,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661998   PALM BEACH GARDENS                                   33418    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                 500000              500000                    90.00               90.00   PMI                       LPMI                        25                                   7.2500            0.3750       0.0325    0.3100               0.7175
      1103661999   LAUREL                                               20707    MD                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     455,920.00                     453,813.90   First Lien                                      0           569,900.00                   113,980.00                 569900              576000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103662000   HALLANDALE                                           33009    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     461,250.00                     461,250.00   First Lien                                      0           615,000.00                   153,750.00                 615000              615000                    75.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103662001   PURCELLVILLE                                         20132    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     463,992.00                     463,992.00   First Lien                                      0           579,990.00                   115,998.00                 579990              602000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662003   CHANDLER                                             85249    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     469,350.00                     469,350.00   First Lien                                      0           469,350.00                         0.00                 586710              600000                    80.00               80.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103662004   BELLEVUE                                             98006    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           540,000.00                    60,000.00                      -          625,000.00                    76.80               86.40   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103662005   SAN DIEGO                                            92116    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           540,000.00                    60,000.00                      -          600,000.00                    80.00               90.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103662006   BELTSVILLE                                           20705    MD                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     500,000.00                     500,000.00   First Lien                                      0           560,000.00                    60,000.00                      -          645,000.00                    77.52               86.83   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103662007   NAPLES                                               34119    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     517,500.00                     517,500.00   First Lien                                      0           655,500.00                   138,000.00                 690000              690000                    75.00               95.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662008   LAS VEGAS                                            89145    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     522,150.00                     522,150.00   First Lien                                      0           671,336.00                   149,186.00                 745985              760000                    70.00               90.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103662010   NAPLES                                               34119    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     540,000.00                     540,000.00   First Lien                                      0           684,000.00                   144,000.00                 719910              720000                    75.01               95.02   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662011   FORT LAUDERDALE                                      33304    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     540,000.00                     540,000.00   First Lien                                      0           607,500.00                    67,500.00                 675000              675000                    80.00               90.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662012   FORT LAUDERDALE                                      33304    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     540,000.00                     540,000.00   First Lien                                      0           607,500.00                    67,500.00                 675000              675000                    80.00               90.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662013   LAS VEGAS                                            89147    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     544,000.00                     544,000.00   First Lien                                      0           612,000.00                    68,000.00                      -          680,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103662014   FORT LAUDERDALE                                      33304    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     545,360.00                     545,360.00   First Lien                                      0           744,385.00                   199,025.00                 785000              825000                    69.48               94.83   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103662015   GLENDALE                                             91208    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     554,250.00                     554,250.00   First Lien                                      0           739,000.00                   184,750.00                 739000              740000                    75.00              100.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103662018   PHOENIX                                              85022    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     603,000.00                     603,000.00   First Lien                                      0           805,000.00                   202,000.00                      -          805,000.00                    74.91              100.00   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103662020   AUBURN                                               95603    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     628,000.00                     628,000.00   First Lien                                      0           628,000.00                         0.00                      -          790,000.00                    79.50               79.50   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103662021   MIAMI BEACH                                          33139    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     640,000.00                     640,000.00   First Lien                                      0           800,000.00                   160,000.00                 800000              815000                    80.00              100.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103662023   EL CAJON                                             92021    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     700,000.00                     700,000.00   First Lien                                      0           875,000.00                   175,000.00                 875000              875000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103662024   WELLINGTON                                           33467    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     720,000.00                     720,000.00   First Lien                                      0           900,000.00                   180,000.00                 900000              925000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103662027   PARKER                                               80134    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     779,316.00                     779,316.00   First Lien                                      0           974,145.00                   194,829.00                 974146             1050000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103662028   VACAVILLE                                            95688    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     800,000.00                     800,000.00   First Lien                                      0           800,000.00                         0.00                1000000             1000000                    80.00               80.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662029   DANVILLE                                             94526    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     832,000.00                     832,000.00   First Lien                                      0           982,000.00                   150,000.00                1040000             1040000                    80.00               94.43   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103662030   CARLSBAD                                             92008    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     840,000.00                     840,000.00   First Lien                                      0           840,000.00                         0.00                      -        1,300,000.00                    64.62               64.62   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103662033   CHANDLER                                             85249    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     937,500.00                     937,500.00   First Lien                                      0         1,174,842.00                   237,342.00                      -        1,200,000.00                    78.13               97.91   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103662072   OAKLAND                                              94603    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     320,000.00                     320,000.00   First Lien                                      0           320,000.00                         0.00                      -          400,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103662082   WHITTIER                                             90606    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     225,000.00                     224,765.09   First Lien                                      0           225,000.00                         0.00                      -          480,000.00                    46.88               46.88   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103662112   GARDEN GROVE                                         92843    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     318,500.00                     318,500.00   First Lien                                      0           318,500.00                         0.00                      -          379,000.00                    84.04               84.04   PMI                       LPMI                        22                                    7.875             0.375       0.0325     0.630               1.0375
      1103662130   WESTMINSTER                                          92683    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     401,000.00                     401,000.00   First Lien                                      0           401,000.00                         0.00                      -          585,000.00                    68.55               68.55   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      1103662157   LOS ANGELES                                          90037    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     415,000.00                     415,000.00   First Lien                                      0           415,000.00                         0.00                      -          530,000.00                    78.31               78.31   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103662166   TAMPA                                                33635    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     207,300.00                     207,300.00   First Lien                                      0           207,300.00                         0.00                      -          275,000.00                    75.39               75.39   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103662169   SAINT CLOUD                                          34772    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          645,000.00                    65.12               65.12   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103662170   BRENTWOOD                                            37027    TN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     411,200.00                     411,200.00   First Lien                                      0           411,200.00                         0.00                      -          514,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103662171   FORT WASHINGTON                                      20744    MD                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     333,900.00                     333,781.45   First Lien                                      0           333,900.00                         0.00                      -          371,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.250             0.375       0.0325     0.000               0.4075
      1103662172   GERMANTOWN                                           20876    MD                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     193,500.00                     193,428.83   First Lien                                      0           193,500.00                         0.00                      -          212,000.00                    91.28               91.28   PMI                       LPMI                        30                                    7.125             0.375       0.0325     0.650               1.0575
      1103662173   GLEN BURNIE                                          21061    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     306,000.00                     306,000.00   First Lien                                      0           306,000.00                         0.00                      -          350,000.00                    87.43               87.43   PMI                       BPMI                        25                                    7.500             0.375       0.0325     0.000               0.4075
      1103662174   EDGEWATER                                            21037    MD                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     279,000.00                     278,893.71   First Lien                                      0           279,000.00                         0.00                 310000              310000                    90.00               90.00   PMI                       LPMI                        25                                   7.0000            0.3750       0.0325    0.3400               0.7475
      1103662175   ARLINGTON                                            22204    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     228,000.00                     228,000.00   First Lien                                      0           228,000.00                         0.00                      -          285,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103662177   LANHAM                                               20706    MD                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     288,000.00                     288,000.00   First Lien                                      0           288,000.00                         0.00                      -          370,000.00                    77.84               77.84   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103662179   CLINTON                                              20735    MD                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     220,000.00                     219,924.61   First Lien                                      0           220,000.00                         0.00                      -          298,000.00                    73.83               73.83   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103662184   LAKE GENEVA                                          53147    WI                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     275,400.00                     275,400.00   First Lien                                      0           275,400.00                         0.00                 289900              289900                    95.00               95.00   PMI                       LPMI                        35                                   7.8750            0.3750       0.0325    0.6400               1.0475
      1103662185   ROUND LAKE BEACH                                     60073    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     229,000.00                     229,000.00   First Lien                                      0           229,000.00                         0.00                 229000              229000                   100.00              100.00   PMI                       LPMI                        35                                   7.8750            0.3750       0.0325    0.9600               1.3675
      1103662186   HOLIDAY HILLS                                        60051    IL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     138,700.00                     138,669.25   First Lien                                      0           138,700.00                         0.00                 146000              163300                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    1.1600               1.5675
      1103662187   WESTCHESTER                                          60154    IL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     192,000.00                     191,960.48   First Lien                                      0           192,000.00                         0.00                 192000              214000                   100.00              100.00   PMI                       LPMI                        35                                   9.1250            0.3750       0.0325    1.8700               2.2775
      1103662188   PRESCOTT                                             86303    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     299,000.00                     299,000.00   First Lien                                      0           399,000.00                   100,000.00                 420000              460000                    71.20               95.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103662189   CORONA                                               92882    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     784,000.00                     784,000.00   First Lien                                      0           882,000.00                    98,000.00                      -          980,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103662190   ORLANDO                                              32837    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     463,500.00                     463,335.43   First Lien                                      0           463,500.00                         0.00                 515000              520000                    90.00               90.00   PMI                       BPMI                        25                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103662191   LEHIGH ACRES                                         33971    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     216,250.00                     216,250.00   First Lien                                      0           216,250.00                         0.00                      -          230,000.00                    94.03               94.03   PMI                       LPMI                        30                                    7.875             0.375       0.0325     0.650               1.0575
      1103662192   LEHIGH ACRES                                         33971    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     227,000.00                     227,000.00   First Lien                                      0           227,000.00                         0.00                      -          260,000.00                    87.31               87.31   PMI                       LPMI                        25                                    8.250             0.375       0.0325     0.520               0.9275
      1103662194   COLORADO SPRINGS                                     80906    CO                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     123,785.00                     123,749.54   First Lien                                      0           123,785.00                         0.00                      -          130,300.00                    95.00               95.00   PMI                       LPMI                        30                                    8.000             0.375       0.0325     0.850               1.2575
      1103662195   LEHIGH ACRES                                         33971    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     220,400.00                     220,400.00   First Lien                                      0           220,400.00                         0.00                      -          232,000.00                    95.00               95.00   PMI                       LPMI                        30                                    8.375             0.375       0.0325     0.830               1.2375
      1103662198   BRADENTON                                            34208    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     148,875.00                     148,875.00   First Lien                                      0           148,875.00                         0.00                      -          198,500.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103662201   FORT MYERS                                           33919    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                      87,200.00                      87,200.00   First Lien                                      0           109,000.00                    21,800.00                 109000              109000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103662202   KISSIMMEE                                            34759    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     168,000.00                     167,946.39   First Lien                                      0           168,000.00                         0.00                      -          210,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103662203   HIALEAH                                              33015    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     146,320.00                     146,320.00   First Lien                                      0           164,610.00                    18,290.00                 182900              188000                    80.00               90.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103662204   SAINT CLOUD                                          34771    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     312,000.00                     311,868.02   First Lien                                      0           312,000.00                         0.00                      -          390,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103662205   CLERMONT                                             34711    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     306,000.00                     305,755.30   First Lien                                      0           306,000.00                         0.00                 340000              361000                    90.00               90.00   PMI                       BPMI                        25                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103662207   FORT PIERCE                                          34982    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     104,500.00                     104,500.00   First Lien                                      0           104,500.00                         0.00                 110000              130000                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    0.9500               1.3575
      1103662209   OCALA                                                34470    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     148,000.00                     148,000.00   First Lien                                      0           148,000.00                         0.00                      -          185,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103662210   EVERETT                                              98204    WA                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     228,900.00                     228,821.56   First Lien                                      0           228,900.00                         0.00                 228900              229000                   100.00              100.00   PMI                       LPMI                        35                                   7.3750            0.3750       0.0325    0.8300               1.2375
      1103662211   KISSIMMEE                                            34758    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     248,375.00                     248,375.00   First Lien                                      0           248,375.00                         0.00                      -          317,000.00                    78.36               78.36   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103662212   NORTH MIAMI                                          33161    FL                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     265,000.00                     264,921.30   First Lien                                      0           265,000.00                         0.00                 265000              265000                   100.00              100.00   PMI                       LPMI                        35                                   7.8750            0.3750       0.0325    1.3500               1.7575
      1103662213   KISSIMMEE                                            34758    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     212,500.00                     212,500.00   First Lien                                      0           212,500.00                         0.00                      -          250,000.00                    85.00               85.00   PMI                       LPMI                        22                                    7.000             0.375       0.0325     0.450               0.8575
      1103662215   LEHIGH ACRES                                         33971    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          265,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103662216   NAPLES                                               34120    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,000.00                     184,000.00   First Lien                                      0           207,000.00                    23,000.00                 230590              300000                    79.80               89.77   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103662217   LAS VEGAS                                            89104    NV                             20070401                 20370301   ARMS                    Yes                                             360                    480                          359                     236,000.00                     235,943.67   First Lien                                      0           236,000.00                         0.00                 236000              236000                   100.00              100.00   PMI                       LPMI                        35                                   8.6250            0.3750       0.0325    1.4000               1.8075
      1103662218   HOLLYWOOD                                            33021    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     153,000.00                     153,000.00   First Lien                                      0           153,000.00                         0.00                      -          170,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.500             0.375       0.0325     0.000               0.4075
      1103662219   PHILADELPHIA                                         19120    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      99,000.00                      99,000.00   First Lien                                      0            99,000.00                         0.00                      -          110,000.00                    90.00               90.00   PMI                       BPMI                        25                                    8.375             0.375       0.0325     0.000               0.4075
      1103662222   PEMBROKE PINES                                       33027    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     114,000.00                     114,000.00   First Lien                                      0           114,000.00                         0.00                      -          190,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103662223   ORLANDO                                              32836    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          560,000.00                    72.33               72.33   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103662224   RIVERDALE                                            20737    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          340,000.00                    73.53               73.53   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103662225   WENTZVILLE                                           63385    MO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     193,500.00                     193,500.00   First Lien                                      0           193,500.00                         0.00                      -          215,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.500             0.375       0.0325     1.180               1.5875
      1103662226   TAMPA                                                33604    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     106,400.00                     106,400.00   First Lien                                      0           106,400.00                         0.00                 112000              119000                    95.00               95.00   PMI                       BPMI                        30                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103662227   OCALA                                                34471    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     210,000.00                     209,855.48   First Lien                                      0           210,000.00                         0.00                 210000              248000                   100.00              100.00   PMI                       LPMI                        35                                   7.8750            0.3750       0.0325    0.9600               1.3675
      1103662229   CLEARWATER                                           33756    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     301,500.00                     301,500.00   First Lien                                      0           301,500.00                         0.00                      -          335,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.500             0.375       0.0325     0.810               1.2175
      1103662230   LAUDERDALE LAKES                                     33313    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     136,000.00                     136,000.00   First Lien                                      0           136,000.00                         0.00                      -          170,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103662231   ORLANDO                                              32808    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     148,500.00                     148,500.00   First Lien                                      0           148,500.00                         0.00                      -          165,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.000             0.375       0.0325     0.000               0.4075
      1103662232   ANDOVER                                              55304    MN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     307,705.00                     307,705.00   First Lien                                      0           307,705.00                         0.00                 323900              325000                    95.00               95.00   PMI                       LPMI                        30                                   7.8750            0.3750       0.0325    0.9000               1.3075
      1103662233   NOBLESVILLE                                          46062    IN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     155,714.00                     155,714.00   First Lien                                      0           155,714.00                         0.00                 163910              166000                    95.00               95.00   PMI                       LPMI                        30                                   8.3750            0.3750       0.0325    0.8300               1.2375
      1103662234   CHICAGO                                              60614    IL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     650,000.00                     650,000.00   First Lien                                      0           650,000.00                         0.00                      -          870,000.00                    74.72               74.72   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103662270   HIGHLAND                                             92346    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     376,000.00                     376,000.00   First Lien                                      0           376,000.00                         0.00                      -          420,000.00                    89.53               89.53   PMI                       LPMI                        25                                    7.375             0.250       0.0325     0.520               0.8025
      1103662280   BAKERSFIELD                                          93314    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     225,200.00                     225,200.00   First Lien                                      0           281,550.00                    56,350.00                 281560              282000                    79.99              100.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      1103662283   RIVERSIDE                                            92505    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     264,000.00                     264,000.00   First Lien                                      0           264,000.00                         0.00                      -          440,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103662288   LOS ANGELES                                          90049    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     415,000.00                     415,000.00   First Lien                                      0           415,000.00                         0.00                      -        1,250,000.00                    33.20               33.20   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      1103662300   ELK GROVE                                            95624    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     504,000.00                     504,000.00   First Lien                                      0           504,000.00                         0.00                      -          630,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      1103662312   BROOKLYN                                             11217    NY                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          700,000.00                    71.43               71.43   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103662330   CHINO HILLS                                          91709    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     544,000.00                     544,000.00   First Lien                                      0           680,000.00                   136,000.00                      -          680,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103662332   WASHINGTON                                           20018    DC                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     397,580.00                     397,580.00   First Lien                                      0           397,580.00                         0.00                      -          543,800.00                    73.12               73.12   No MI                     NO MI                        0                                    8.125             0.375       0.0325     0.000               0.4075
      1103662340   FONTANA                                              92335    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     325,500.00                     325,500.00   First Lien                                      0           325,500.00                         0.00                      -          465,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103662383   SANTA ANA                                            92703    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     370,150.00                     370,150.00   First Lien                                      0           370,150.00                         0.00                      -          630,000.00                    58.76               58.76   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103662400   CAMP VERDE                                           86322    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     101,000.00                     100,929.08   First Lien                                      0           101,000.00                         0.00                      -          382,000.00                    26.44               26.44   No MI                     NO MI                        0                                    7.775             0.375       0.0325     0.000               0.4075
      1103662432   LAS VEGAS                                            89118    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     188,000.00                     188,000.00   First Lien                                      0           223,250.00                    35,250.00                 235115              247000                    79.97               94.96   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103662448   SAN FRANCISCO                                        94114    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     928,000.00                     928,000.00   First Lien                                      0           928,000.00                         0.00                1160000             1160000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103662480   DOWNEY                                               90242    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     522,500.00                     522,500.00   First Lien                                      0           522,500.00                         0.00                 550000              550000                    95.00               95.00   PMI                       LPMI                        30                                   7.9900            0.3750       0.0325    0.5800               0.9875
      1103662494   COACHELLA                                            92236    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     113,000.00                     112,627.73   First Lien                                      0           113,000.00                         0.00                      -          300,000.00                    37.67               37.67   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      1103662503   SPRING HILL                                          34609    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     132,000.00                     131,935.07   First Lien                                      0           132,000.00                         0.00                      -          165,000.00                    80.00               80.00   No MI                     NO MI                        0                                    9.500             0.375       0.0325     0.000               0.4075
      1103662507   LOS ANGELES                                          91331    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     373,800.00                     373,800.00   First Lien                                      0           534,000.00                   160,200.00                      -          540,000.00                    69.23               98.89   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103662512   PEMBROKE PINES                                       33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     133,825.00                     133,825.00   First Lien                                      0           133,825.00                         0.00                 267650              270000                    50.00               50.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103662531   ARVIN                                                93203    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     208,000.00                     208,000.00   First Lien                                      0           208,000.00                         0.00                      -          260,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103662564   GERMANTOWN                                           20876    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     274,500.00                     274,432.03   First Lien                                      0           274,500.00                         0.00                      -          305,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.500             0.375       0.0325     1.510               1.9175
      1103662569   SAN DIEGO                                            92123    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     468,000.00                     468,000.00   First Lien                                      0           585,000.00                   117,000.00                      -          585,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103662601   GULF BREEZE                                          32563    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                      -          750,000.00                    48.00               48.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103662663   PHOENIX                                              85035    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     145,000.00                     145,000.00   First Lien                                      0           145,000.00                         0.00                      -          208,000.00                    69.72               69.72   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      1103662668   WOODLAND HILLS AREA                                  91367    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     311,200.00                     311,200.00   First Lien                                      0           311,200.00                         0.00                 389000              392000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103662693   SANTA ANA                                            92703    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     462,000.00                     462,000.00   First Lien                                      0           462,000.00                         0.00                      -          625,000.00                    73.92               73.92   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103662735   LOS ANGELES                                          90026    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     485,000.00                     485,000.00   First Lien                                      0           485,000.00                         0.00                      -          720,000.00                    67.37               67.37   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103662753   LA HABRA HEIGHTS                                     90631    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     456,000.00                     456,000.00   First Lien                                      0           456,000.00                         0.00                 760000              760000                    60.00               60.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103662757   MIRAMAR BEACH                                        32550    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     156,000.00                     156,000.00   First Lien                                      0           156,000.00                         0.00                 195000              195000                    80.00               80.00   No MI                     NO MI                        0                                   9.3750            0.3750       0.0325    0.0000               0.4075
      1103662771   KOLOA                                                96756    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     384,000.00                     384,000.00   First Lien                                      0           480,000.00                    96,000.00                 480000              480000                    80.00              100.00   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      1103662812   DUARTE                                               91010    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     354,350.00                     354,350.00   First Lien                                      0           354,350.00                         0.00                 373000              375000                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    0.9800               1.3875
      1103662845   LOMPOC                                               93436    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     332,000.00                     332,000.00   First Lien                                      0           332,000.00                         0.00                      -          415,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103662885   STOCKTON                                             95209    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     245,000.00                     245,000.00   First Lien                                      0           315,000.00                    70,000.00                      -          350,000.00                    70.00               90.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103662897   JACKSONVILLE                                         32208    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                      76,500.00                      76,500.00   First Lien                                      0            76,500.00                         0.00                  90000               90000                    85.00               85.00   PMI                       LPMI                        22                                   8.5000            0.2500       0.0325    1.0000               1.2825
      1103663049   SAINT PETERSBURG                                     33714    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     100,000.00                     100,000.00   First Lien                                      0           100,000.00                         0.00                      -          130,000.00                    76.93               76.93   No MI                     NO MI                        0                                    9.100             0.375       0.0325     0.000               0.4075
      1103663092   SAN FRANCISCO                                        94109    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     553,000.00                     553,000.00   First Lien                                      0           711,000.00                   158,000.00                      -          790,000.00                    70.00               90.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103663135   LA PUENTE (HACIENDA HEIGH                            91745    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           600,000.00                   120,000.00                 600000              611000                    80.00              100.00   No MI                     NO MI                        0                                   7.9500            0.3750       0.0325    0.0000               0.4075
      1103663313   LONG BEACH                                           90806    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     418,400.00                     418,400.00   First Lien                                      0           418,400.00                         0.00                      -          523,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103663337   HOUSTON                                              77082    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     173,600.00                     173,600.00   First Lien                                      0           206,150.00                    32,550.00                 217000              230000                    80.00               95.00   No MI                     NO MI                        0                                   9.2500            0.3750       0.0325    0.0000               0.4075
      1103663343   BRONX                                                10472    NY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     470,640.00                     470,640.00   First Lien                                      0           558,885.00                    88,245.00                 588300              590000                    80.00               95.00   No MI                     NO MI                        0                                   8.6250            0.3750       0.0325    0.0000               0.4075
      1103663354   NORTH LAS VEGAS                                      89081    NV                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     294,400.00                     294,400.00   First Lien                                      0           368,000.00                    73,600.00                 368000              370000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.2500       0.0325    0.0000               0.2825
      1103663356   DOUGLAS                                              85607    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     155,103.00                     155,103.00   First Lien                                      0           155,103.00                         0.00                 172337              175000                    90.00               90.00   PMI                       LPMI                        25                                  10.0000            0.3750       0.0325    0.6400               1.0475
      1103663365   FAYETTEVILLE                                         72704    AR                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     188,000.00                     188,000.00   First Lien                                      0           235,000.00                    47,000.00                 235000              240000                    80.00              100.00   No MI                     NO MI                        0                                   7.9900            0.3750       0.0325    0.0000               0.4075
      1103663519   MORENO VALLEY                                        92555    CA                             20070501                 20370301   FIXED                   Yes                                             360                    480                          360                     129,900.00                     129,836.95   First Lien                                      0           129,900.00                         0.00                 379900              380000                    34.20               34.20   No MI                     NO MI                        0                                   6.1250            0.2500       0.0325    0.0000               0.2825
      1103663537   GLENDALE                                             85308    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     268,000.00                     268,000.00   First Lien                                      0           301,500.00                    33,500.00                      -          335,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103663569   SAN JOAQUIN                                          93660    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     139,750.00                     139,750.00   First Lien                                      0           139,750.00                         0.00                      -          215,000.00                    65.00               65.00   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103663625   OGDEN                                                94401    UT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     125,600.00                     125,600.00   First Lien                                      0           149,150.00                    23,550.00                 163000              163000                    77.06               91.51   No MI                     NO MI                        0                                   7.7500            0.2500       0.0325    0.0000               0.2825
      1103663638   KISSIMMEE                                            34743    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     122,000.00                     121,809.08   First Lien                                      0           152,500.00                    30,500.00                 152500              170000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.2500       0.0325    0.0000               0.2825
      1103663705   LAS VEGAS                                            89156    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     176,000.00                     176,000.00   First Lien                                      0           220,000.00                    44,000.00                      -          220,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103663861   PEMBROKE PINES                                       33025    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     170,000.00                     170,000.00   First Lien                                      0           170,000.00                         0.00                 305000              305000                    55.74               55.74   No MI                     NO MI                        0                                   7.3000            0.3750       0.0325    0.0000               0.4075
      1103663873   ROYAL  PALM BEACH                                    33411    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     240,000.00                     239,700.62   First Lien                                      0           240,000.00                         0.00                      -          270,000.00                    88.89               88.89   PMI                       LPMI                        25                                    8.375             0.375       0.0325     1.110               1.5175
      1103664231   OAKLAND PARK                                         33334    FL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     161,025.00                     161,025.00   First Lien                                      0           161,025.00                         0.00                 169500              169500                    95.00               95.00   PMI                       BPMI                        30                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103664232   WEST PALM BEACH                                      33415    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     188,000.00                     188,000.00   First Lien                                      0           188,000.00                         0.00                      -          239,000.00                    78.67               78.67   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      1103664241   HENDERSON                                            89074    NV                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     175,379.00                     175,379.00   First Lien                                      0           175,379.00                         0.00                 184610              184610                    95.00               95.00   PMI                       LPMI                        30                                   9.0000            0.3750       0.0325    0.9000               1.3075
      1103664242   HENDERSON                                            89074    NV                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     167,627.00                     167,627.00   First Lien                                      0           167,627.00                         0.00                 176450              176450                    95.00               95.00   PMI                       LPMI                        30                                   8.7500            0.3750       0.0325    0.9000               1.3075
      1103664248   BALTIMORE                                            21239    MD                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     140,000.00                     139,965.30   First Lien                                      0           140,000.00                         0.00                 140000              157000                   100.00              100.00   PMI                       LPMI                        35                                   8.5000            0.3750       0.0325    0.8100               1.2175
      1103664253   MARKHAM                                              60426    IL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                      87,000.00                      87,000.00   First Lien                                      0            87,000.00                         0.00                  87000               88000                   100.00              100.00   PMI                       LPMI                        35                                   8.1250            0.3750       0.0325    0.8100               1.2175
      1103664259   MAITLAND                                             32751    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     119,130.00                     119,130.00   First Lien                                      0           119,130.00                         0.00                 125400              126000                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    0.9000               1.3075
      1103664260   GULF BREEZE                                          32563    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     216,400.00                     216,400.00   First Lien                                      0           216,400.00                         0.00                      -          270,500.00                    80.00               80.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103664261   SAUK VILLAGE                                         60411    IL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                      87,885.00                      87,885.00   First Lien                                      0            87,885.00                         0.00                  87885               88000                   100.00              100.00   PMI                       LPMI                        35                                   7.6250            0.3750       0.0325    0.8100               1.2175
      1103664262   OVIEDO                                               32765    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     191,900.00                     191,900.00   First Lien                                      0           191,900.00                         0.00                 191900              192900                   100.00              100.00   PMI                       BPMI                        35                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103664263   CONROE                                               77301    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     121,600.00                     121,600.00   First Lien                                      0           121,600.00                         0.00                 128000              134000                    95.00               95.00   PMI                       BPMI                        30                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103664266   CHICAGO                                              60639    IL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     337,250.00                     337,250.00   First Lien                                      0           337,250.00                         0.00                 355000              360000                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    0.8500               1.2575
      1103664270   NAPLES                                               34120    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     224,988.00                     224,988.00   First Lien                                      0           224,988.00                         0.00                 236830              280000                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    0.8300               1.2375
      1103664276   GREENACRES                                           33413    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     385,000.00                     385,000.00   First Lien                                      0           385,000.00                         0.00                 385000              430000                   100.00              100.00   PMI                       BPMI                        35                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103664281   AURORA                                               60504    IL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     175,900.00                     175,900.00   First Lien                                      0           175,900.00                         0.00                 175900              176000                   100.00              100.00   PMI                       LPMI                        35                                   8.8750            0.3750       0.0325    1.3500               1.7575
      1103664284   COLUMBIA                                             21045    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     303,050.00                     303,050.00   First Lien                                      0           303,050.00                         0.00                 319000              319000                    95.00               95.00   PMI                       LPMI                        30                                   8.3750            0.3750       0.0325    0.7800               1.1875
      1103664285   EDGEWOOD                                             21040    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     167,000.00                     167,000.00   First Lien                                      0           167,000.00                         0.00                 176000              181000                    94.89               94.89   PMI                       LPMI                        30                                   8.3750            0.3750       0.0325    0.7800               1.1875
      1103664290   WEST ORANGE                                          07052    NJ                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     441,600.00                     441,600.00   First Lien                                      0           441,600.00                         0.00                      -          460,000.00                    96.00               96.00   PMI                       BPMI                        35                                    7.750             0.375       0.0325     0.000               0.4075
      1103664292   ALTAMONTE SPRINGS                                    32714    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     132,905.00                     132,857.80   First Lien                                      0           132,905.00                         0.00                 139900              165000                    95.00               95.00   PMI                       BPMI                        30                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103664300   NORTH MIAMI BEACH                                    33162    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     155,000.00                     155,000.00   First Lien                                      0           155,000.00                         0.00                      -          155,000.00                   100.00              100.00   PMI                       BPMI                        35                                    8.875             0.375       0.0325     0.000               0.4075
      1103664301   KISSIMMEE                                            34743    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          265,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103664310   LAWRENCEVILLE                                        30043    GA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     211,755.00                     211,755.00   First Lien                                      0           211,755.00                         0.00                 222900              245000                    95.00               95.00   PMI                       LPMI                        30                                   7.2500            0.3750       0.0325    0.7800               1.1875
      1103664311   MILTON                                               32583    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                 125000              126500                   100.00              100.00   PMI                       BPMI                        35                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103664314   ELK GROVE                                            95758    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     395,000.00                     395,000.00   First Lien                                      0           395,000.00                         0.00                 395000              395000                   100.00              100.00   PMI                       LPMI                        35                                   9.8750            0.3750       0.0325    2.0500               2.4575
      1103664316   SHERIDAN                                             46069    IN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     175,745.00                     175,745.00   First Lien                                      0           175,745.00                         0.00                 175745              176000                   100.00              100.00   PMI                       LPMI                        35                                   8.3750            0.3750       0.0325    0.8100               1.2175
      1103664318   HIGHLAND PARK                                        60035    IL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     793,300.00                     793,072.80   First Lien                                      0           793,300.00                         0.00                      -        1,000,000.00                    79.33               79.33   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103664321   FORT LAUDERDALE                                      33304    FL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     315,399.00                     315,399.00   First Lien                                      0           315,399.00                         0.00                 331999              332000                    95.00               95.00   PMI                       LPMI                        30                                   8.7500            0.3750       0.0325    1.2500               1.6575
      1103664324   LITHONIA                                             30038    GA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                 535000              535000                    93.46               93.46   PMI                       LPMI                        30                                   8.8750            0.3750       0.0325    1.1600               1.5675
      1103664327   BIRMINGHAM                                           35215    AL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     123,000.00                     122,955.94   First Lien                                      0           123,000.00                         0.00                 123000              129000                   100.00              100.00   PMI                       LPMI                        35                                   7.3750            0.3750       0.0325    0.8300               1.2375
      1103664328   CENTREVILLE                                          20120    VA                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     323,500.00                     323,500.00   First Lien                                      0           323,500.00                         0.00                 323500              324000                   100.00              100.00   PMI                       LPMI                        35                                   7.6250            0.3750       0.0325    0.7000               1.1075
      1103664331   NAPLES                                               34104    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     278,000.00                     278,000.00   First Lien                                      0           278,000.00                         0.00                 278000              279000                   100.00              100.00   PMI                       LPMI                        35                                   8.6250            0.3750       0.0325    1.5600               1.9675
      1103664335   EVERGREEN PARK                                       60805    IL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     315,000.00                     315,000.00   First Lien                                      0           315,000.00                         0.00                 315000              315000                   100.00              100.00   PMI                       LPMI                        35                                   8.6250            0.3750       0.0325    1.3500               1.7575
      1103664340   GREENWOOD                                            46143    IN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     173,800.00                     173,800.00   First Lien                                      0           173,800.00                         0.00                 217250              217250                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103664341   WASHINGTON                                           20019    DC                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     187,900.00                     187,900.00   First Lien                                      0           187,900.00                         0.00                 187900              195000                   100.00              100.00   PMI                       LPMI                        35                                   8.5000            0.3750       0.0325    1.0600               1.4675
      1103664343   NAMPA                                                83686    ID                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     167,200.00                     167,200.00   First Lien                                      0           167,200.00                         0.00                 176000              176000                    95.00               95.00   PMI                       LPMI                        30                                   9.3750            0.3750       0.0325    1.2500               1.6575
      1103664348   O FALLON                                             62269    IL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      69,395.00                      69,395.00   First Lien                                      0            69,395.00                         0.00                  69395               75000                   100.00              100.00   PMI                       LPMI                        35                                  10.5000            0.2500       0.0325    2.3000               2.5825
      1103664349   FORT MYERS                                           33967    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     100,000.00                     100,000.00   First Lien                                      0           100,000.00                         0.00                      -          230,000.00                    43.48               43.48   No MI                     NO MI                        0                                    7.625             0.250       0.0325     0.000               0.2825
      1103664352   WINTER GARDEN                                        34787    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     379,880.00                     379,880.00   First Lien                                      0           379,880.00                         0.00                 379883              415000                   100.00              100.00   PMI                       BPMI                        35                                   6.8750            0.2500       0.0325    0.0000               0.2825
      1103664353   LOS ANGELES                                          90037    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     238,000.00                     238,000.00   First Lien                                      0           238,000.00                         0.00                      -          440,000.00                    54.10               54.10   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103664356   APOPKA                                               32712    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     195,000.00                     194,862.40   First Lien                                      0           195,000.00                         0.00                      -          292,000.00                    66.79               66.79   No MI                     NO MI                        0                                    7.750             0.250       0.0325     0.000               0.2825
      1103664358   PORT CHARLOTTE                                       33952    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     176,250.00                     176,250.00   First Lien                                      0           176,250.00                         0.00                      -          235,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103664359   GRAYSON                                              30017    GA                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     202,000.00                     202,000.00   First Lien                                      0           202,000.00                         0.00                 202000              230000                   100.00              100.00   PMI                       LPMI                        35                                   9.0000            0.2500       0.0325    1.1100               1.3925
      1103664361   ROCKFORD                                             61104    IL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      54,900.00                      54,900.00   First Lien                                      0            54,900.00                         0.00                  54900               55000                   100.00              100.00   PMI                       BPMI                        35                                   8.1250            0.2500       0.0325    0.0000               0.2825
      1103664362   UNIVERSITY PARK                                      60466    IL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                      72,675.00                      72,675.00   First Lien                                      0            72,675.00                         0.00                  76500               77000                    95.00               95.00   PMI                       BPMI                        30                                   8.7500            0.2500       0.0325    0.0000               0.2825
      1103664364   KISSIMMEE                                            34744    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     220,500.00                     220,323.70   First Lien                                      0           220,500.00                         0.00                      -          327,000.00                    67.44               67.44   No MI                     NO MI                        0                                    7.125             0.250       0.0325     0.000               0.2825
      1103664365   CHICAGO                                              60634    IL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          400,000.00                    67.50               67.50   No MI                     NO MI                        0                                    8.125             0.250       0.0325     0.000               0.2825
      1103664367   CUMMING                                              30040    GA                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     259,900.00                     259,900.00   First Lien                                      0           259,900.00                         0.00                 259900              270000                   100.00              100.00   PMI                       BPMI                        35                                   7.8750            0.2500       0.0325    0.0000               0.2825
      1103664368   SARASOTA                                             34235    FL                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     192,000.00                     192,000.00   First Lien                                      0           192,000.00                         0.00                      -          256,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103664371   ODESSA                                               33556    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     117,650.00                     117,650.00   First Lien                                      0           117,650.00                         0.00                      -          157,000.00                    74.94               74.94   No MI                     NO MI                        0                                    8.625             0.250       0.0325     0.000               0.2825
      1103664374   BIRMINGHAM                                           35215    AL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      84,550.00                      84,550.00   First Lien                                      0            84,550.00                         0.00                  89000              101000                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.2500       0.0325    0.0000               0.2825
      1103664377   GRAND PRAIRIE                                        75050    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     138,795.00                     138,795.00   First Lien                                      0           138,795.00                         0.00                 146100              152000                    95.00               95.00   PMI                       BPMI                        30                                   8.3750            0.2500       0.0325    0.0000               0.2825
      1103664378   MIAMI                                                33173    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     245,000.00                     245,000.00   First Lien                                      0           245,000.00                         0.00                      -          449,000.00                    54.57               54.57   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      1103664379   NORTH MIAMI                                          33161    FL                             20070501                 20370301   FIXED                   Yes                                             360                    480                          360                     132,900.00                     132,900.00   First Lien                                      0           132,900.00                         0.00                 132900              139000                   100.00              100.00   PMI                       BPMI                        35                                   7.8750            0.2500       0.0325    0.0000               0.2825
      1103664381   WINTER SPRINGS                                       32708    FL                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     149,500.00                     149,500.00   First Lien                                      0           149,500.00                         0.00                      -          225,000.00                    66.45               66.45   No MI                     NO MI                        0                                    7.625             0.250       0.0325     0.000               0.2825
      1103664382   ORANGE CITY                                          32763    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     120,000.00                     119,932.70   First Lien                                      0           120,000.00                         0.00                      -          150,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.875             0.250       0.0325     0.000               0.2825
      1103664384   PALM COAST                                           32164    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          330,000.00                    59.10               59.10   No MI                     NO MI                        0                                    8.125             0.250       0.0325     0.000               0.2825
      1103664386   COLUMBUS                                             43224    OH                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      64,000.00                      64,000.00   First Lien                                      0            64,000.00                         0.00                  64000               64000                   100.00              100.00   PMI                       LPMI                        35                                   8.5000            0.2500       0.0325    0.8100               1.0925
      1103664389   SAN ANTONIO                                          78224    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     127,870.00                     127,870.00   First Lien                                      0           127,870.00                         0.00                 134600              136000                    95.00               95.00   PMI                       LPMI                        30                                   8.8750            0.2500       0.0325    0.7800               1.0625
      1103664392   COCOA BEACH                                          32931    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     325,500.00                     325,500.00   First Lien                                      0           325,500.00                         0.00                      -          465,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.250             0.250       0.0325     0.000               0.2825
      1103664393   FORT LAUDERDALE                                      33311    FL                             20070301                 20370201   FIXED                   No                                              360                    360                          358                      91,000.00                      90,811.71   First Lien                                      0            91,000.00                         0.00                      -          130,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.875             0.250       0.0325     0.000               0.2825
      1103664394   ORLANDO                                              32833    FL                             20070501                 20370201   FIXED                   Yes                                             360                    480                          360                     424,000.00                     424,000.00   First Lien                                      0           424,000.00                         0.00                 424000              430000                   100.00              100.00   PMI                       LPMI                        35                                   7.7500            0.2500       0.0325    0.9600               1.2425
      1103664395   SIMPSONVILLE                                         40067    KY                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     149,000.00                     149,000.00   First Lien                                      0           149,000.00                         0.00                 149000              172000                   100.00              100.00   PMI                       BPMI                        35                                   7.5000            0.2500       0.0325    0.0000               0.2825
      1103664397   MOUNT PLEASANT                                       29466    SC                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     196,650.00                     196,650.00   First Lien                                      0           196,650.00                         0.00                 207000              225500                    95.00               95.00   PMI                       BPMI                        30                                   8.3750            0.2500       0.0325    0.0000               0.2825
      1103664398   LA VERNE                                             91750    CA                             20070301                 20370401   FIXED                   Yes                                             360                    480                          358                     414,400.00                     413,957.70   First Lien                                      0           414,400.00                         0.00                 518000              520000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.2500       0.0325    0.0000               0.2825
      1103664399   TRENTON                                              28585    NC                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      85,025.00                      85,025.00   First Lien                                      0            85,025.00                         0.00                  89500               92000                    95.00               95.00   PMI                       BPMI                        30                                   8.0000            0.2500       0.0325    0.0000               0.2825
      1103664400   HOUSTON                                              77047    TX                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      82,000.00                      82,000.00   First Lien                                      0            82,000.00                         0.00                  82000               82500                   100.00              100.00   PMI                       LPMI                        35                                   8.7500            0.2500       0.0325    0.8100               1.0925
      1103664402   JASPER                                               35503    AL                             20070201                 20370101   FIXED                   No                                              360                    360                          357                      85,000.00                      84,844.41   First Lien                                      0            85,000.00                         0.00                  85000               86000                   100.00              100.00   PMI                       LPMI                        35                                   8.5000            0.2500       0.0325    0.8100               1.0925
      1103664591   CHULA VISTA                                          91911    CA                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     264,000.00                     264,000.00   First Lien                                      0           330,000.00                    66,000.00                 330000              330000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.3750       0.0325    0.0000               0.4075
      1103665109   BURBANK                                              91504    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     584,000.00                     583,521.30   First Lien                                      0           693,500.00                   109,500.00                 730000              750000                    80.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665110   NORTH HOLLYWOOD                                      91605    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     468,000.00                     467,267.60   First Lien                                      0           585,000.00                   117,000.00                 585000              585000                    80.00              100.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103665111   HACIENDA HEIGHTS                                     91745    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     404,000.00                     403,700.20   First Lien                                      0           505,000.00                   101,000.00                 505000              535000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665112   ONTARIO                                              91764    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     348,000.00                     347,225.20   First Lien                                      0           435,000.00                    87,000.00                 440000              435000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665113   UPLAND                                               91784    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     600,000.00                     599,109.43   First Lien                                      0           750,000.00                   150,000.00                 750000              750000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665114   CABAZON                                              92230    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     198,750.00                     198,583.00   First Lien                                      0           198,750.00                         0.00                      -          265,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103665115   ADELANTO                                             92301    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     287,200.00                     286,970.33   First Lien                                      0           359,000.00                    71,800.00                 390000              390000                    73.65               92.06   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103665116   BARSTOW                                              92311    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     137,600.00                     137,497.88   First Lien                                      0           172,000.00                    34,400.00                 172000              180000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665117   FONTANA                                              92337    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     456,000.00                     455,616.90   First Lien                                      0           541,500.00                    85,500.00                      -          570,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103665118   REDLANDS                                             92374    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     268,000.00                     267,592.14   First Lien                                      0           335,000.00                    67,000.00                      -          335,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103665120   RIVERSIDE                                            92504    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     263,610.00                     263,400.24   First Lien                                      0           263,610.00                         0.00                 292900              318000                    90.00               90.00   PMI                       BPMI                        20                                   7.1500            0.3750       0.0325    0.0000               0.4075
      1103665122   HUNTINGTON BEACH                                     92648    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                   1,330,000.00                   1,327,819.61   First Lien                                      0         1,520,000.00                   190,000.00                      -        1,900,000.00                    70.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103665123   WESTMINSTER                                          92683    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     519,200.00                     518,774.40   First Lien                                      0           649,000.00                   129,800.00                 649000              649000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665125   SANTA ANA                                            92707    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     468,000.00                     467,566.54   First Lien                                      0           585,000.00                   117,000.00                 585000              592000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103665126   ANAHEIM                                              92804    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     484,000.00                     483,263.42   First Lien                                      0           605,000.00                   121,000.00                 605000              605000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103665127   ANAHEIM                                              92805    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     425,600.00                     424,572.90   First Lien                                      0           532,000.00                   106,400.00                 532000              565000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103665128   CORONA                                               92881    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     760,000.00                     758,923.80   First Lien                                      0           760,000.00                         0.00                      -          965,000.00                    78.76               78.76   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103665129   CORONA                                               92882    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     680,000.00                     678,243.60   First Lien                                      0           830,000.00                   150,000.00                      -          850,000.00                    80.00               97.65   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103665130   YORBA LINDA                                          92886    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     516,000.00                     515,151.60   First Lien                                      0           645,000.00                   129,000.00                 645000              645000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665131   FESNO                                                93727    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     224,000.00                     223,623.62   First Lien                                      0           266,000.00                    42,000.00                      -          280,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      1103665133   ARLIINGTON                                           98223    WA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     307,160.00                     306,385.84   First Lien                                      0           307,160.00                         0.00                 370450              384000                    82.92               82.92   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103665134   COLORADO SPRING                                      80911    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     178,400.00                     178,172.48   First Lien                                      0           223,000.00                    44,600.00                 223000              223000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103665135   DRAPER                                               84020    UT                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     236,135.00                     235,494.58   First Lien                                      0           295,169.00                    59,034.00                 295169              315000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103665136   SARATOGA SPRINGS                                     84045    UT                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     174,464.00                     173,872.60   First Lien                                      0           218,080.00                    43,616.00                 218080              218080                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103665137   PLEASANT GROVE                                       84062    UT                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     155,344.00                     155,023.29   First Lien                                      0           194,181.00                    38,837.00                 194181              195000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103665140   ST. GEORGE                                           84770    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     474,939.00                     474,939.00   First Lien                                      0           563,990.00                    89,051.00              593675.13              608000                    80.00               95.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665141   LAS VEGAS                                            89104    NV                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     200,000.00                     199,844.00   First Lien                                      0           250,000.00                    50,000.00                      -          250,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103665142   LOS ANGELES                                          90022    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     416,000.00                     415,044.50   First Lien                                      0           494,000.00                    78,000.00                      -          544,000.00                    76.48               90.81   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103665143   LOS ANGELES                                          90068    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     980,000.00                     978,432.62   First Lien                                      0         1,330,000.00                   350,000.00                      -        1,400,000.00                    70.00               95.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103665144   COMPTON                                              90221    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     388,000.00                     387,689.72   First Lien                                      0           485,000.00                    97,000.00                 485000              485000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103665145   SANTA FE SPRING                                      90606    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     292,000.00                     291,566.59   First Lien                                      0           365,000.00                    73,000.00                 385000              385000                    75.85               94.81   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665147   LAKEWOOD                                             90712    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     401,600.00                     400,283.26   First Lien                                      0           502,000.00                   100,400.00                 502000              502000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665148   LONG BEACH                                           90806    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     436,000.00                     435,642.61   First Lien                                      0           545,000.00                   109,000.00                 545000              545000                    80.00              100.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665149   LONG BEACH                                           90815    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     500,000.00                     499,257.86   First Lien                                      0           625,000.00                   125,000.00                 625000              640000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103665150   PASADENA                                             91103    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     432,000.00                     431,420.27   First Lien                                      0           540,000.00                   108,000.00                 540000              550000                    80.00              100.00   No MI                     NO MI                        0                                   8.0000            0.2500       0.0325    0.0000               0.2825
      1103665151   FONTANA                                              92337    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     340,000.00                     339,766.01   First Lien                                      0           403,750.00                    63,750.00                      -          425,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.875             0.250       0.0325     0.000               0.2825
      1103665152   MORENO VALLEY                                        92551    CA                             20070201                 20370101   FIXED                   No                                              360                    360                          357                     300,000.00                     299,380.63   First Lien                                      0           375,000.00                    75,000.00                 375000              375000                    80.00              100.00   No MI                     NO MI                        0                                   7.8750            0.2500       0.0325    0.0000               0.2825
      1103665153   WESTMINSTER                                          92683    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           530,000.00                   113,000.00                 530000              530000                    78.68              100.00   No MI                     NO MI                        0                                   7.8750            0.2500       0.0325    0.0000               0.2825
      1103665154   SANTA ANA                                            92704    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     338,400.00                     338,189.67   First Lien                                      0           423,000.00                    84,600.00                 423000              428000                    80.00              100.00   No MI                     NO MI                        0                                   8.3750            0.2500       0.0325    0.0000               0.2825
      1103665156   BAKERSFIELD                                          93314    WA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     303,975.00                     303,975.00   First Lien                                      0           303,975.00                         0.00                 405000              405000                    75.06               75.06   No MI                     NO MI                        0                                   8.7500            0.2500       0.0325    0.0000               0.2825
      1103665157   KENT                                                 98031    WA                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     453,000.00                     452,158.63   First Lien                                      0           453,000.00                         0.00                      -          650,000.00                    69.70               69.70   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      1103665158   VAN COUVER                                           98665    WA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     186,400.00                     186,281.14   First Lien                                      0           233,000.00                    46,600.00                 233000              242500                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.2500       0.0325    0.0000               0.2825
      1103665159   LAKESIDE                                             59922    MT                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     246,400.00                     246,212.51   First Lien                                      0           308,000.00                    61,600.00                 308000              308000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.2500       0.0325    0.0000               0.2825
      1103665160   OGDEN                                                84401    UT                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     108,000.00                     107,843.67   First Lien                                      0           135,000.00                    27,000.00                 135000              135000                    80.00              100.00   No MI                     NO MI                        0                                   7.6250            0.2500       0.0325    0.0000               0.2825
      1103665161   LAS VEGAS                                            89122    NV                             20070301                 20370201   FIXED                   No                                              360                    360                          358                     149,600.00                     149,423.35   First Lien                                      0           187,000.00                    37,400.00                 187000              187000                    80.00              100.00   No MI                     NO MI                        0                                   8.6250            0.2500       0.0325    0.0000               0.2825
      1103665162   LOS ANGELES                                          90026    CA                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     448,000.00                     447,683.80   First Lien                                      0           560,000.00                   112,000.00                 560000              560000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.2500       0.0325    0.0000               0.2825
      2503153673   BROOKLYN                                             11216    NY                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     132,000.00                     131,917.06   Second Lien                                495000           627,000.00                         0.00                 660000              675000                    95.00               95.00   No MI                     NO MI                        0                                  11.6000            0.5000       0.0325    0.0000               0.5325
      2503164097   FARMINGTON HILLS                                     48336    MI                             20060801                 20220201   ARMS                    Yes                                             360                    480                          351                     323,000.00                     322,301.29   First Lien                                      0           323,000.00                         0.00                      -          340,000.00                    95.00               95.00   No MI                     NO MI                        0                                    8.700             0.375       0.0325     0.000               0.4075
      2503180761   DUARTE                                               91010    CA                             20061101                 20220401   FIXED                   Yes                                             180                    360                          174                      91,000.00                      90,868.06   Second Lien                                364000           455,000.00                         0.00                 455000              455000                   100.00              100.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      2503184571   PHOENIX                                              85044    AZ                             20061101                 20211001   FIXED                   Yes                                             180                    360                          174                      59,000.00                      58,889.83   Second Lien                                236000           295,000.00                         0.00                 295000              295000                   100.00              100.00   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      2503185841   DADE CITY                                            33523    FL                             20061201                 20211001   FIXED                   Yes                                             180                    360                          175                      46,000.00                      45,943.05   Second Lien                                138000           184,000.00                         0.00                 184000              200000                   100.00              100.00   No MI                     NO MI                        0                                  12.7400            0.5000       0.0325    0.0000               0.5325
      2503188998   LAS VEGAS                                            89147    NV                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      63,000.00                      62,917.70   Second Lien                                252000           315,000.00                         0.00                 315000              315000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503189258   MIAMI                                                33193    FL                             20061201                 20211101   FIXED                   Yes                                             180                    360                          175                      48,750.00                      48,161.37   Second Lien                                146250           195,000.00                         0.00                      -          195,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.895             0.500       0.0325     0.000               0.5325
      2503189762   CAMPBELL                                             44405    OH                             20070201                 20211101   FIXED                   Yes                                             180                    360                          177                      26,000.00                      25,980.71   Second Lien                                104000           130,000.00                         0.00                      -          132,000.00                    98.49               98.49   No MI                     NO MI                        0                                   12.700             0.500       0.0325     0.000               0.5325
      2503190770   CHICAGO                                              60621    IL                             20070101                 20220101   FIXED                   Yes                                             180                    360                          176                      35,000.00                      34,582.77   Second Lien                                131250           166,250.00                         0.00                 175000              175500                    95.00               95.00   No MI                     NO MI                        0                                  12.2900            0.5000       0.0325    0.0000               0.5325
      2503191818   FORT MYERS                                           33916    FL                             20070101                 20211201   FIXED                   Yes                                             180                    360                          176                      28,400.00                      28,400.00   Second Lien                                106500           134,900.00                         0.00                      -          142,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.690             0.500       0.0325     0.000               0.5325
      2503191847   ESCONDIDO                                            92025    CA                             20061201                 20211201   FIXED                   Yes                                             180                    360                          175                      68,300.00                      68,194.66   Second Lien                                273200           341,500.00                         0.00                 341538              342000                    99.99               99.99   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      2503193131   MIAMI                                                33183    FL                             20070201                 20211101   FIXED                   Yes                                             180                    360                          177                      53,250.00                      53,189.19   Second Lien                                159750           213,000.00                         0.00                 213000              214000                   100.00              100.00   No MI                     NO MI                        0                                  10.7400            0.5000       0.0325    0.0000               0.5325
      2503194961   DESTIN                                               32541    FL                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                     131,000.00                     130,926.73   Second Lien                                491250           622,250.00                         0.00                      -          655,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.125             0.500       0.0325     0.000               0.5325
      2503195310   EL CAJON                                             92019    CA                             20070101                 20220201   FIXED                   Yes                                             180                    360                          176                      95,700.00                      95,557.13   Second Lien                                223300           319,000.00                         0.00                 319000              329000                   100.00              100.00   No MI                     NO MI                        0                                  10.8900            0.5000       0.0325    0.0000               0.5325
      2503195664   DORAL                                                33178    FL                             20070201                 20211201   FIXED                   Yes                                             180                    360                          177                      75,748.00                      75,682.33   Second Lien                                227200           302,948.00                         0.00                 302990              306000                    99.99               99.99   No MI                     NO MI                        0                                  12.0000            0.5000       0.0325    0.0000               0.5325
      2503195675   JACKSONVILLE                                         32208    FL                             20070101                 20220101   FIXED                   Yes                                             180                    360                          176                      24,000.00                      23,978.89   Second Lien                                 84000           108,000.00                         0.00                 120000              135000                    90.00               90.00   No MI                     NO MI                        0                                  13.2500            0.5000       0.0325    0.0000               0.5325
      2503195750   SIMI VALLEY                                          93063    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     480,000.00                     480,000.00   First Lien                                      0           540,000.00                    60,000.00                      -          600,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      2503195826   BRONX                                                10462    NY                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     162,500.00                     162,370.79   Second Lien                                487500           650,000.00                         0.00                 650000              650000                   100.00              100.00   No MI                     NO MI                        0                                  12.3900            0.5000       0.0325    0.0000               0.5325
      2503196100   SANTA ANA                                            92701    CA                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      82,500.00                      82,419.28   Second Lien                                247500           330,000.00                         0.00                      -          330,000.00                   100.00              100.00   No MI                     NO MI                        0                                   11.450             0.500       0.0325     0.000               0.5325
      2503196609   CHICAGO                                              60628    IL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      20,250.00                      20,234.65   Second Lien                                101250           121,500.00                         0.00                 135000              165000                    90.00               90.00   No MI                     NO MI                        0                                  12.6000            0.5000       0.0325    0.0000               0.5325
      2503196781   CHICAGO                                              60628    IL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      50,000.00                      49,955.88   Second Lien                                187500           237,500.00                         0.00                 250000              250000                    95.00               95.00   No MI                     NO MI                        0                                  11.9200            0.5000       0.0325    0.0000               0.5325
      2503197046   CHICAGO                                              60621    IL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      26,250.00                      26,226.91   Second Lien                                140000           166,250.00                         0.00                 175000              175000                    95.00               95.00   No MI                     NO MI                        0                                  11.9350            0.5000       0.0325    0.0000               0.5325
      2503197386   SCOTTSDALE                                           85251    AZ                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      42,375.00                      42,358.69   Second Lien                                118650           161,025.00                         0.00                 169500              169500                    95.00               95.00   No MI                     NO MI                        0                                  13.9500            0.5000       0.0325    0.0000               0.5325
      2503197397   RENTON                                               98058    WA                             20070101                 20220201   FIXED                   Yes                                             180                    360                          176                      35,100.00                      35,058.99   Second Lien                                140400           175,500.00                         0.00                 175500              175500                   100.00              100.00   No MI                     NO MI                        0                                  11.9750            0.5000       0.0325    0.0000               0.5325
      2503198076   MIAMI BEACH                                          33139    FL                             20070301                 20211201   FIXED                   Yes                                             180                    360                          178                      47,600.00                      47,582.17   Second Lien                                178500           226,100.00                         0.00                 238000              245000                    95.00               95.00   No MI                     NO MI                        0                                  13.9000            0.5000       0.0325    0.0000               0.5325
      2503198220   FAIRFIELD                                            83327    ID                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     140,000.00                     139,923.37   First Lien                                      0           175,000.00                    35,000.00                 175000              175000                    80.00              100.00   No MI                     NO MI                        0                                   8.9900            0.3750       0.0325    0.0000               0.4075
      2503198749   RIVERDALE                                            30274    GA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                      33,200.00                      33,178.19   Second Lien                                124500           157,700.00                         0.00                 166000              166000                    95.00               95.00   No MI                     NO MI                        0                                  13.2400            0.5000       0.0325    0.0000               0.5325
      2503198867   ORANGE                                               07050    NJ                             20070401                 20220101   FIXED                   Yes                                             180                    360                          179                      74,750.00                      74,634.25   Second Lien                                224250           299,000.00                         0.00                 299000              299000                   100.00              100.00   No MI                     NO MI                        0                                  12.5900            0.5000       0.0325    0.0000               0.5325
      2503199274   ASHBURN                                              20147    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     192,000.00                     192,000.00   First Lien                                      0           192,000.00                         0.00                      -          390,000.00                    49.24               49.24   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503199481   FRESNO                                               93730    CA                             20070201                 20220401   FIXED                   Yes                                             180                    360                          177                     133,750.00                     133,682.56   Second Lien                                650000           783,750.00                         0.00                      -          825,000.00                    95.00               95.00   No MI                     NO MI                        0                                   14.400             0.500       0.0325     0.000               0.5325
      2503199678   BAY SHORE                                            11706    NY                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      60,000.00                      59,969.24   Second Lien                                320000           380,000.00                         0.00                      -          400,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.515             0.500       0.0325     0.000               0.5325
      2503199806   HOLLYWOOD                                            33021    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      39,150.00                      39,132.99   Second Lien                                146900           186,050.00                         0.00                 195900              196000                    94.98               94.98   No MI                     NO MI                        0                                  13.2500            0.5000       0.0325    0.0000               0.5325
      2503200154   PORT ST.  LUCIE                                      34986    FL                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      24,161.00                      24,143.60   Second Lien                                181211           205,372.00                         0.00                 241615              290000                    85.00               85.00   No MI                     NO MI                        0                                  13.6000            0.5000       0.0325    0.0000               0.5325
      2503200183   BROOKLYN                                             11212    NY                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      42,750.00                      42,731.62   Second Lien                                228000           270,750.00                         0.00                 285000              285000                    95.00               95.00   No MI                     NO MI                        0                                  13.3000            0.5000       0.0325    0.0000               0.5325
      2503200602   WEST PALM BEACH                                      33401    FL                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      36,250.00                      36,224.83   Second Lien                                135950           172,200.00                         0.00                 181300              183000                    94.99               94.99   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      2503200917   SOUTHFIELD                                           48076    MI                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      29,000.00                      28,978.50   Second Lien                                116000           145,000.00                         0.00                 145000              145000                   100.00              100.00   No MI                     NO MI                        0                                  12.7000            0.5000       0.0325    0.0000               0.5325
      2503200927   LAUDERHILL                                           33313    FL                             20070401                 20220101   FIXED                   Yes                                             180                    360                          179                      23,000.00                      22,996.60   Second Lien                                 86250           109,250.00                         0.00                      -          115,000.00                    95.00               95.00   No MI                     NO MI                        0                                   14.900             0.500       0.0325     0.000               0.5325
      2503200932   FORT MYERS                                           33916    FL                             20070201                 20220301   FIXED                   Yes                                             180                    360                          177                      33,700.00                      33,675.42   Second Lien                                 94400           128,100.00                         0.00                 134900              135000                    94.96               94.96   No MI                     NO MI                        0                                  12.7750            0.5000       0.0325    0.0000               0.5325
      2503201011   SAINT PETERSBURG                                     33712    FL                             20070201                 20220101   FIXED                   Yes                                             180                    360                          177                      41,200.00                      41,169.95   Second Lien                                115400           156,600.00                         0.00                 164900              165000                    94.97               94.97   No MI                     NO MI                        0                                  12.7750            0.5000       0.0325    0.0000               0.5325
      2503201271   JAMAICA                                              11435    NY                             20070401                 20220101   FIXED                   Yes                                             180                    360                          179                     148,400.00                     148,364.74   Second Lien                                593600           742,000.00                         0.00                 742000              745000                   100.00              100.00   No MI                     NO MI                        0                                  12.8300            0.5000       0.0325    0.0000               0.5325
      2503201291   FORT LAUDERDALE                                      33301    FL                             20070201                 20220301   FIXED                   Yes                                             180                    360                          177                      86,000.00                      85,922.93   Second Lien                                257900           343,900.00                         0.00                 343900              350000                   100.00              100.00   No MI                     NO MI                        0                                  11.8500            0.5000       0.0325    0.0000               0.5325
      2503201423   FORT LUPTON                                          80621    CO                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      38,000.00                      37,982.52   Second Lien                                152000           190,000.00                         0.00                      -          190,000.00                   100.00              100.00   No MI                     NO MI                        0                                   13.000             0.500       0.0325     0.000               0.5325
      2503201732   WEED                                                 96094    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      38,000.00                      37,978.82   Second Lien                                152000           190,000.00                         0.00                 190000              195000                   100.00              100.00   No MI                     NO MI                        0                                  12.1400            0.5000       0.0325    0.0000               0.5325
      2503201750   FRESNO                                               93720    CA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      44,250.00                      44,214.12   Second Lien                                236000           280,250.00                         0.00                      -          295,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.300             0.500       0.0325     0.000               0.5325
      2503201982   LAS VEGAS                                            89110    NV                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      79,200.00                      79,162.54   Second Lien                                277200           356,400.00                         0.00                 396000              430000                    90.00               90.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      2503202208   BOTHELL                                              98012    WA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      82,750.00                      82,701.59   Second Lien                                310312           393,062.00                         0.00                 413750              415000                    95.00               95.00   No MI                     NO MI                        0                                  13.7500            0.5000       0.0325    0.0000               0.5325
      2503202420   SAINT PAUL                                           55101    MN                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      35,000.00                      34,984.75   Second Lien                                131250           166,250.00                         0.00                 175000              178000                    95.00               95.00   No MI                     NO MI                        0                                  13.2400            0.5000       0.0325    0.0000               0.5325
      2503202514   DEBARY                                               32713    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      36,000.00                      36,000.00   Second Lien                                300000           336,000.00                         0.00                      -          375,000.00                    89.60               89.60   No MI                     NO MI                        0                                   10.875             0.500       0.0325     0.000               0.5325
      2503202548   JACKSON                                              94542    CA                             20070201                 20220201   FIXED                   Yes                                             180                    360                          177                      76,000.00                      75,933.97   Second Lien                                304000           380,000.00                         0.00                 380000              380000                   100.00              100.00   No MI                     NO MI                        0                                  11.9900            0.5000       0.0325    0.0000               0.5325
      2503202609   SACRAMENTO                                           95823    CA                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      38,250.00                      38,231.40   Second Lien                                204000           242,250.00                         0.00                      -          255,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.750             0.500       0.0325     0.000               0.5325
      2503202645   KISSIMMEE                                            34744    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      48,150.00                      48,124.51   Second Lien                                240750           288,900.00                         0.00                      -          321,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.370             0.500       0.0325     0.000               0.5325
      2503202757   ALEXANDRIA                                           22309    VA                             20070401                 20220201   ARMS                    Yes                                             360                    480                          359                     361,000.00                     360,959.62   First Lien                                      0           361,000.00                         0.00                 380000              420000                    95.00               95.00   PMI                       LPMI                        30                                  11.1250            0.3750       0.0325    2.1400               2.5475
      2503203013   ORLANDO                                              32822    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      48,950.00                      48,925.87   Second Lien                                146950           195,900.00                         0.00                 195990              198000                    99.96               99.96   No MI                     NO MI                        0                                  12.6900            0.5000       0.0325    0.0000               0.5325
      2503203247   STOCKTON                                             95203    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      54,750.00                      54,717.82   Second Lien                                273750           328,500.00                         0.00                 365000              365000                    90.00               90.00   No MI                     NO MI                        0                                  11.9000            0.5000       0.0325    0.0000               0.5325
      2503203341   KANEOHE                                              96744    HI                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      89,850.00                      89,829.69   Second Lien                                449250           539,100.00                         0.00                 599000              650000                    90.00               90.00   No MI                     NO MI                        0                                  13.0500            0.5000       0.0325    0.0000               0.5325
      2503203461   POMPANO BEACH                                        33067    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      55,150.00                      55,135.53   Second Lien                                206950           262,100.00                         0.00                 275990              276000                    94.97               94.97   No MI                     NO MI                        0                                  12.3900            0.5000       0.0325    0.0000               0.5325
      2503203466   LAS VEGAS                                            89142    NV                             20070201                 20220301   FIXED                   Yes                                             180                    360                          177                      49,980.00                      49,925.93   Second Lien                                199920           249,900.00                         0.00                 249900              250000                   100.00              100.00   No MI                     NO MI                        0                                  10.9900            0.5000       0.0325    0.0000               0.5325
      2503203513   MANTECA                                              95336    CA                             20070301                 20220101   FIXED                   Yes                                             180                    360                          178                      59,250.00                      59,215.37   Second Lien                                316000           375,250.00                         0.00                 395000              423000                    95.00               95.00   No MI                     NO MI                        0                                  11.9250            0.5000       0.0325    0.0000               0.5325
      2503203514   HAYWARD                                              94541    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     117,300.00                     117,238.56   Second Lien                                625600           742,900.00                         0.00                      -          782,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.420             0.500       0.0325     0.000               0.5325
      2503203529   PAULSBORO                                            08066    NJ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      31,900.00                      31,888.96   Second Lien                                119625           151,525.00                         0.00                 159500              159500                    95.00               95.00   No MI                     NO MI                        0                                  14.2500            0.5000       0.0325    0.0000               0.5325
      2503203574   ORLANDO                                              32824    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      51,750.00                      51,721.21   Second Lien                                276000           327,750.00                         0.00                      -          350,000.00                    93.65               93.65   No MI                     NO MI                        0                                   12.150             0.500       0.0325     0.000               0.5325
      2503203584   TAMPA                                                33635    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      38,600.00                      38,581.38   Second Lien                                144750           183,350.00                         0.00                 193000              195000                    95.00               95.00   No MI                     NO MI                        0                                  12.7900            0.5000       0.0325    0.0000               0.5325
      2503203710   LAS VEGAS                                            89104    NV                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      37,500.00                      37,482.59   Second Lien                                200000           237,500.00                         0.00                      -          250,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.000             0.500       0.0325     0.000               0.5325
      2503203782   MIAMI BEACH                                          33141    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      51,000.00                      50,973.76   Second Lien                                204000           255,000.00                         0.00                 255000              255000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503203852   WELLINGTON                                           80549    CO                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      31,500.00                      31,480.59   Second Lien                                157500           189,000.00                         0.00                      -          210,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.690             0.500       0.0325     0.000               0.5325
      2503203861   SEATTLE                                              98106    WA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      49,350.00                      49,320.33   Second Lien                                263200           312,550.00                         0.00                 329000              335000                    95.00               95.00   No MI                     NO MI                        0                                  11.8000            0.5000       0.0325    0.0000               0.5325
      2503203896   SURPRISE                                             85388    AZ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      37,050.00                      37,027.73   Second Lien                                185250           222,300.00                         0.00                      -          247,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.800             0.500       0.0325     0.000               0.5325
      2503203994   CHICAGO                                              60621    IL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      29,250.00                      29,233.91   Second Lien                                156000           185,250.00                         0.00                 195000              208000                    95.00               95.00   No MI                     NO MI                        0                                  12.2000            0.5000       0.0325    0.0000               0.5325
      2503204068   GOODYEAR                                             85338    AZ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      57,400.00                      57,373.91   Second Lien                                200900           258,300.00                         0.00                 287000              300000                    90.00               90.00   No MI                     NO MI                        0                                  13.0500            0.5000       0.0325    0.0000               0.5325
      2503204087   LOS ANGELES                                          90012    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     114,750.00                     114,698.88   Second Lien                                612000           726,750.00                         0.00                 765000              790000                    95.00               95.00   No MI                     NO MI                        0                                  13.1400            0.5000       0.0325    0.0000               0.5325
      2503204151   ELIZABETH                                            07201    NJ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      97,800.00                      97,749.84   Second Lien                                366750           464,550.00                         0.00                 489000              520000                    95.00               95.00   No MI                     NO MI                        0                                  12.5150            0.5000       0.0325    0.0000               0.5325
      2503204218   TOMS RIVER                                           08757    NJ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      31,500.00                      31,481.89   Second Lien                                168000           199,500.00                         0.00                 210000              245000                    95.00               95.00   No MI                     NO MI                        0                                  12.0000            0.5000       0.0325    0.0000               0.5325
      2503204310   KISSIMMEE                                            34746    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      74,600.00                      74,561.76   Second Lien                                398400           473,000.00                         0.00                      -          498,000.00                    94.98               94.98   No MI                     NO MI                        0                                   12.515             0.500       0.0325     0.000               0.5325
      2503204389   SURPRISE                                             85388    AZ                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      44,945.00                      44,918.57   Second Lien                                168543           213,488.00                         0.00                 224725              255000                    95.00               95.00   No MI                     NO MI                        0                                  11.9000            0.5000       0.0325    0.0000               0.5325
      2503204520   BRONX                                                10472    NY                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     108,000.00                     107,950.23   Second Lien                                405000           513,000.00                         0.00                      -          540,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.990             0.500       0.0325     0.000               0.5325
      2503204614   CORONA                                               11368    NY                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                     242,500.00                     242,422.50   Second Lien                                727500           970,000.00                         0.00                 970000              970000                   100.00              100.00   No MI                     NO MI                        0                                  11.5000            0.5000       0.0325    0.0000               0.5325
      2503204710   KISSIMMEE                                            34758    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      67,800.00                      67,768.11   Second Lien                                189900           257,700.00                         0.00                 271300              273000                    94.99               94.99   No MI                     NO MI                        0                                  12.9000            0.5000       0.0325    0.0000               0.5325
      2503204754   JACKSONVILLE                                         32209    FL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      23,750.00                      23,739.20   Second Lien                                 70250            94,000.00                         0.00                      -           99,000.00                    94.95               94.95   No MI                     NO MI                        0                                   13.050             0.500       0.0325     0.000               0.5325
      2503204783   TROY                                                 62294    IL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      59,250.00                      59,232.51   Second Lien                                177750           237,000.00                         0.00                      -          260,000.00                    91.16               91.16   No MI                     NO MI                        0                                   11.860             0.500       0.0325     0.000               0.5325
      2503204824   WEST PALM BEACH                                      33411    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      33,798.00                      33,782.07   Second Lien                                126742           160,540.00                         0.00                 168990              176000                    95.00               95.00   No MI                     NO MI                        0                                  12.8900            0.5000       0.0325    0.0000               0.5325
      2503204848   HOMESTEAD                                            33032    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     187,500.00                     187,367.67   First Lien                                      0           250,000.00                    62,500.00                 250000              250000                    75.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      2503204851   HOMESTEAD                                            33032    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      62,500.00                      62,483.79   Second Lien                                187500           250,000.00                         0.00                 250000              250000                   100.00              100.00   No MI                     NO MI                        0                                  12.4400            0.5000       0.0325    0.0000               0.5325
      2503204853   VALLEY OF ENCHANTMENT                                92325    CA                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      38,000.00                      37,976.26   Second Lien                                133000           171,000.00                         0.00                      -          190,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.625             0.500       0.0325     0.000               0.5325
      2503204863   MINNEAPOLIS                                          55411    MN                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      31,700.00                      31,684.66   Second Lien                                148100           179,800.00                         0.00                      -          200,000.00                    89.90               89.90   No MI                     NO MI                        0                                   12.775             0.500       0.0325     0.000               0.5325
      2503204878   MEDFORD                                              97501    OR                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      41,200.00                      41,183.72   Second Lien                                154500           195,700.00                         0.00                 206000              206000                    95.00               95.00   No MI                     NO MI                        0                                  13.6700            0.5000       0.0325    0.0000               0.5325
      2503204980   BELVIDERE                                            61008    IL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      56,250.00                      56,219.67   Second Lien                                157500           213,750.00                         0.00                 225000              225000                    95.00               95.00   No MI                     NO MI                        0                                  12.2900            0.5000       0.0325    0.0000               0.5325
      2503205026   LOS ANGELES (MISSION HILL                            91345    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      90,000.00                      89,948.12   Second Lien                                337500           427,500.00                         0.00                      -          450,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.990             0.500       0.0325     0.000               0.5325
      2503205029   ELIZABETH                                            07201    NJ                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      67,500.00                      67,477.95   Second Lien                                337500           405,000.00                         0.00                 450000              450000                    90.00               90.00   No MI                     NO MI                        0                                  11.4000            0.5000       0.0325    0.0000               0.5325
      2503205117   PEMBROKE PINES                                       33028    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      66,000.00                      65,977.82   Second Lien                                247500           313,500.00                         0.00                      -          330,000.00                    95.00               95.00   No MI                     NO MI                        0                                   14.375             0.500       0.0325     0.000               0.5325
      2503205315   CHICAGO                                              60609    IL                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      56,400.00                      56,368.62   Second Lien                                211500           267,900.00                         0.00                 286868              284000                    94.34               94.34   No MI                     NO MI                        0                                  12.1500            0.5000       0.0325    0.0000               0.5325
      2503205391   PARK FOREST                                          60466    IL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      37,800.00                      37,788.94   Second Lien                                141750           179,550.00                         0.00                      -          189,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.898             0.500       0.0325     0.000               0.5325
      2503205411   MERIDIAN                                             83642    ID                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      68,700.00                      68,660.40   Second Lien                                366400           435,100.00                         0.00                 458000              510000                    95.00               95.00   No MI                     NO MI                        0                                  11.9900            0.5000       0.0325    0.0000               0.5325
      2503205470   CHICAGO                                              60639    IL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                     120,000.00                     119,969.29   Second Lien                                360000           480,000.00                         0.00                 480000              480000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503205693   WINTER PARK                                          32792    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      77,000.00                      76,957.63   Second Lien                                288500           365,500.00                         0.00                      -          385,000.00                    94.94               94.94   No MI                     NO MI                        0                                   12.200             0.500       0.0325     0.000               0.5325
      2503205877   FAIR OAKS RANCH                                      78015    TX                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      69,000.00                      68,924.35   Second Lien                                368000           437,000.00                         0.00                 460000              475000                    95.00               95.00   No MI                     NO MI                        0                                  13.5600            0.5000       0.0325    0.0000               0.5325
      2503205980   WEST VALLEY CITY                                     84119    UT                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      24,750.00                      24,739.28   Second Lien                                123750           148,500.00                         0.00                      -          165,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.270             0.500       0.0325     0.000               0.5325
      2503206098   CERES                                                95307    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          328,000.00                    76.22               76.22   No MI                     NO MI                        0                                    7.700             0.375       0.0325     0.000               0.4075
      2503206108   CHICAGO                                              60622    IL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      77,800.00                      77,777.74   Second Lien                                311200           389,000.00                         0.00                 389000              390000                   100.00              100.00   No MI                     NO MI                        0                                  12.0000            0.5000       0.0325    0.0000               0.5325
      2503206109   PROVIDENCE                                           02907    RI                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      68,750.00                      68,724.90   Second Lien                                206250           275,000.00                         0.00                 275000              280000                   100.00              100.00   No MI                     NO MI                        0                                  10.8900            0.5000       0.0325    0.0000               0.5325
      2503206237   WESTFIELD                                            46074    IN                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     322,050.00                     321,914.95   First Lien                                      0           322,050.00                         0.00                 339000              339000                    95.00               95.00   PMI                       LPMI                        30                                  10.2500            0.3750       0.0325    1.8800               2.2875
      2503206315   POMPANO BEACH                                        33064    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      46,000.00                      45,988.92   Second Lien                                172500           218,500.00                         0.00                 230000              230000                    95.00               95.00   No MI                     NO MI                        0                                  12.7690            0.5000       0.0325    0.0000               0.5325
      2503206352   SAN RAMON                                            94583    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     112,500.00                     112,471.78   Second Lien                                562500           675,000.00                         0.00                      -          750,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.590             0.500       0.0325     0.000               0.5325
      2503206378   PHOENIX                                              85040    AZ                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      20,700.00                      20,692.78   Second Lien                                110400           131,100.00                         0.00                      -          138,000.00                    95.00               95.00   No MI                     NO MI                        0                                   14.215             0.500       0.0325     0.000               0.5325
      2503206545   HIALEAH                                              33012    FL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      43,750.00                      43,739.06   Second Lien                                131250           175,000.00                         0.00                      -          175,000.00                   100.00              100.00   No MI                     NO MI                        0                                   12.600             0.500       0.0325     0.000               0.5325
      2503206612   PROVIDENCE                                           02908    RI                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      65,000.00                      64,984.24   Second Lien                                195000           260,000.00                         0.00                 260000              295000                   100.00              100.00   No MI                     NO MI                        0                                  12.7400            0.5000       0.0325    0.0000               0.5325
      2503206661   BLACKWOOD                                            08012    NJ                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      41,250.00                      41,243.39   Second Lien                                115500           156,750.00                         0.00                 165000              165000                    95.00               95.00   No MI                     NO MI                        0                                  14.5500            0.5000       0.0325    0.0000               0.5325
      2503206665   PALM HARBOR                                          34683    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     138,000.00                     138,000.00   First Lien                                      0           138,000.00                         0.00                      -          223,000.00                    61.89               61.89   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      2503206762   PALM CITY                                            34990    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      52,200.00                      52,161.29   Second Lien                                417600           469,800.00                         0.00                      -          522,000.00                    90.00               90.00   No MI                     NO MI                        0                                   10.840             0.500       0.0325     0.000               0.5325
      2503206786   CLARKSVILLE                                          21029    MD                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      96,800.00                      96,729.14   Second Lien                                387200           484,000.00                         0.00                      -          484,000.00                   100.00              100.00   No MI                     NO MI                        0                                   10.900             0.500       0.0325     0.000               0.5325
      2503206794   EL PASO                                              79902    TX                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      66,250.00                      66,231.66   Second Lien                                185500           251,750.00                         0.00                      -          265,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.150             0.500       0.0325     0.000               0.5325
      2503206867   AMITYVILLE                                           11701    NY                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      93,750.00                      93,729.47   Second Lien                                281250           375,000.00                         0.00                      -          375,000.00                   100.00              100.00   No MI                     NO MI                        0                                   13.190             0.500       0.0325     0.000               0.5325
      2503206879   CHICAGO                                              60643    IL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      32,000.00                      31,991.34   Second Lien                                120000           152,000.00                         0.00                 160000              161000                    95.00               95.00   No MI                     NO MI                        0                                  12.2500            0.5000       0.0325    0.0000               0.5325
      2503206902   HOLLISTER                                            95023    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     105,000.00                     104,972.46   Second Lien                                525000           630,000.00                         0.00                 700000              702000                    90.00               90.00   No MI                     NO MI                        0                                  12.3900            0.5000       0.0325    0.0000               0.5325
      2503206915   SUMNER                                               98391    WA                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      41,990.00                      41,971.92   Second Lien                                157462           199,452.00                         0.00                 209950              213000                    95.00               95.00   No MI                     NO MI                        0                                  13.2900            0.5000       0.0325    0.0000               0.5325
      2503206917   NORTH WALES                                          19454    PA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     580,000.00                     580,000.00   First Lien                                      0           580,000.00                         0.00                 725000              812000                    80.00               80.00   No MI                     NO MI                        0                                   7.1100            0.3750       0.0325    0.0000               0.4075
      2503207027   MIAMI GARDENS                                        33055    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     243,750.00                     243,549.80   First Lien                                      0           325,000.00                    81,250.00                 325000              325000                    75.00              100.00   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      2503207030   MIAMI GARDENS                                        33055    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      81,250.00                      81,224.64   Second Lien                                243750           325,000.00                         0.00                 325000              325000                   100.00              100.00   No MI                     NO MI                        0                                  11.6070            0.5000       0.0325    0.0000               0.5325
      2503207055   PHILADELPHIA                                         19148    PA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      27,000.00                      26,993.96   Second Lien                                135000           162,000.00                         0.00                      -          180,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.100             0.500       0.0325     0.000               0.5325
      2503207166   WEST COVINA                                          91790    CA                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      54,000.00                      53,970.29   Second Lien                                288000           342,000.00                         0.00                 360000              450000                    95.00               95.00   No MI                     NO MI                        0                                  12.2000            0.5000       0.0325    0.0000               0.5325
      2503207362   DENVER                                               80237    CO                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     115,750.00                     115,690.32   Second Lien                                578775           694,525.00                         0.00                 771700              775000                    90.00               90.00   No MI                     NO MI                        0                                  12.4900            0.5000       0.0325    0.0000               0.5325
      2503207365   LOS ANGELES (NORTH HOLLYW                            91606    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                     165,000.00                     164,926.50   Second Lien                                462000           627,000.00                         0.00                      -          660,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.140             0.500       0.0325     0.000               0.5325
      2503207441   MIAMI                                                33174    FL                             20070401                 20220201   ARMS                    Yes                                             360                    480                          359                     345,000.00                     344,866.33   First Lien                                      0           460,000.00                   115,000.00                 460000              460000                    75.00              100.00   No MI                     NO MI                        0                                   6.9400            0.3750       0.0325    0.0000               0.4075
      2503207460   MIAMI                                                33174    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     115,000.00                     114,971.29   Second Lien                                345000           460,000.00                         0.00                 460000              460000                   100.00              100.00   No MI                     NO MI                        0                                  12.6100            0.5000       0.0325    0.0000               0.5325
      2503207462   VALLEJO                                              94589    CA                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      84,000.00                      83,950.05   Second Lien                                336000           420,000.00                         0.00                      -          430,000.00                    97.68               97.68   No MI                     NO MI                        0                                   11.850             0.500       0.0325     0.000               0.5325
      2503207487   HOMESTEAD                                            33035    FL                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      35,848.00                      35,839.31   Second Lien                                179242           215,090.00                         0.00                 238990              240000                    90.00               90.00   No MI                     NO MI                        0                                  12.7400            0.5000       0.0325    0.0000               0.5325
      2503207506   DENVER                                               80207    CO                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      36,750.00                      36,731.06   Second Lien                                183750           220,500.00                         0.00                      -          245,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.490             0.500       0.0325     0.000               0.5325
      2503207511   LOS ANGELES (SUNLAND AREA                            91040    CA                             20070401                 20220201   ARMS                    Yes                                             360                    480                          359                     635,000.00                     634,777.72   First Lien                                      0           635,000.00                         0.00                      -          800,000.00                    79.38               79.38   No MI                     NO MI                        0                                    7.300             0.375       0.0325     0.000               0.4075
      2503207516   LYNDEN                                               98264    WA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      44,400.00                      44,382.94   Second Lien                                236800           281,200.00                         0.00                 296000              325000                    95.00               95.00   No MI                     NO MI                        0                                  13.7900            0.5000       0.0325    0.0000               0.5325
      2503207647   LAKESIDE                                             92040    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     408,000.00                     408,000.00   First Lien                                      0           506,000.00                    98,000.00                      -          510,000.00                    80.00               99.22   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503207654   BROOKLYN                                             11203    NY                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     121,250.00                     121,221.26   Second Lien                                363750           485,000.00                         0.00                 498000              485000                   100.00              100.00   No MI                     NO MI                        0                                  12.8400            0.5000       0.0325    0.0000               0.5325
      2503207802   SAINT CLOUD                                          34771    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     237,600.00                     237,467.35   First Lien                                      0           237,600.00                         0.00                      -          264,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.895             0.375       0.0325     1.710               2.1175
      2503207864   BRONX                                                10469    NY                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      89,250.00                      89,225.17   Second Lien                                543750           633,000.00                         0.00                      -          725,000.00                    87.32               87.32   No MI                     NO MI                        0                                   12.125             0.500       0.0325     0.000               0.5325
      2503207978   MIAMI                                                33194    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     288,000.00                     288,000.00   First Lien                                      0           324,000.00                    36,000.00                      -          360,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.890             0.375       0.0325     0.000               0.4075
      2503208019   PORTERVILLE                                          93257    CA                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                      45,800.00                      45,773.61   Second Lien                                183200           229,000.00                         0.00                 229000              240000                   100.00              100.00   No MI                     NO MI                        0                                  11.9900            0.5000       0.0325    0.0000               0.5325
      2503208053   KAHULUI                                              96732    HI                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                     123,750.00                     123,702.39   Second Lien                                618750           742,500.00                         0.00                      -          825,000.00                    90.00               90.00   No MI                     NO MI                        0                                   10.650             0.500       0.0325     0.000               0.5325
      2503208074   FREMONT                                              94536    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      79,000.00                      78,974.60   Second Lien                                315900           394,900.00                         0.00                 394900              400000                   100.00              100.00   No MI                     NO MI                        0                                  11.4900            0.5000       0.0325    0.0000               0.5325
      2503208084   TAMARAC                                              33321    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     173,000.00                     173,000.00   First Lien                                      0           173,000.00                         0.00                      -          234,000.00                    73.94               73.94   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      2503208171   OAKLAND PARK                                         33309    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      33,400.00                      33,388.40   Second Lien                                133600           167,000.00                         0.00                 167000              170000                   100.00              100.00   No MI                     NO MI                        0                                  11.1190            0.5000       0.0325    0.0000               0.5325
      2503208184   GARY                                                 46409    IN                             20070501                 20220301   ARMS                    Yes                                             360                    480                          360                      71,100.00                      71,100.00   First Lien                                      0            71,100.00                         0.00                  79000               79000                    90.00               90.00   PMI                       LPMI                        25                                   9.8400            0.3750       0.0325    0.6200               1.0275
      2503208285   CHICAGO                                              60644    IL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      49,700.00                      49,683.73   Second Lien                                186500           236,200.00                         0.00                 248675              260000                    94.99               94.99   No MI                     NO MI                        0                                  11.3900            0.5000       0.0325    0.0000               0.5325
      2503208298   LOS ANGELES                                          90044    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     125,800.00                     125,767.81   Second Lien                                503200           629,000.00                         0.00                 629000              629000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503208308   MIAMI                                                33174    FL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      43,750.00                      43,738.68   Second Lien                                131250           175,000.00                         0.00                 175000              178000                   100.00              100.00   No MI                     NO MI                        0                                  12.4500            0.5000       0.0325    0.0000               0.5325
      2503208320   RIVIERA BEACH                                        33404    FL                             20070301                 20220401   FIXED                   Yes                                             180                    360                          178                     116,000.00                     115,940.19   Second Lien                                435000           551,000.00                         0.00                 629000              580000                    95.00               95.00   No MI                     NO MI                        0                                  12.4900            0.5000       0.0325    0.0000               0.5325
      2503208334   LOS ANGELES                                          90006    CA                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                     170,000.00                     170,000.00   Second Lien                                680000           850,000.00                         0.00                 850000              850000                   100.00              100.00   No MI                     NO MI                        0                                  11.8900            0.5000       0.0325    0.0000               0.5325
      2503208342   VALLEJO                                              94591    CA                             20070401                 20220301   ARMS                    Yes                                             360                    480                          359                     446,500.00                     446,407.97   First Lien                                      0           446,500.00                         0.00                      -          470,000.00                    95.00               95.00   PMI                       LPMI                        30                                    9.120             0.375       0.0325     2.380               2.7875
      2503208379   MIAMI                                                33161    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      68,000.00                      67,981.56   Second Lien                                255000           323,000.00                         0.00                 340000              340000                    95.00               95.00   No MI                     NO MI                        0                                  12.2400            0.5000       0.0325    0.0000               0.5325
      2503208442   FULLERTON                                            92833    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     672,000.00                     672,000.00   First Lien                                      0           672,000.00                         0.00                      -          840,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503208484   AURORA                                               80014    CO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     155,250.00                     155,145.62   First Lien                                      0           207,000.00                    51,750.00                 207000              207000                    75.00              100.00   No MI                     NO MI                        0                                   7.9900            0.3750       0.0325    0.0000               0.4075
      2503208485   AURORA                                               80014    CO                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      51,750.00                      51,738.14   Second Lien                                155250           207,000.00                         0.00                 207000              207000                   100.00              100.00   No MI                     NO MI                        0                                  12.9900            0.5000       0.0325    0.0000               0.5325
      2503208492   NORTH LAS VEGAS                                      89030    NV                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      34,200.00                      34,184.76   Second Lien                                182400           216,600.00                         0.00                 230000              228000                    95.00               95.00   No MI                     NO MI                        0                                  13.1400            0.5000       0.0325    0.0000               0.5325
      2503208510   FRAZIER PARK AREA                                    93225    CA                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      64,500.00                      64,482.70   Second Lien                                344000           408,500.00                         0.00                 430000              430000                    95.00               95.00   No MI                     NO MI                        0                                  12.2900            0.5000       0.0325    0.0000               0.5325
      2503208530   FORT LAUDERDALE                                      33301    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      69,980.00                      69,943.99   Second Lien                                279920           349,900.00                         0.00                 349900              349900                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503208539   FRESNO                                               93722    CA                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      41,250.00                      41,220.39   Second Lien                                206250           247,500.00                         0.00                      -          275,000.00                    90.00               90.00   No MI                     NO MI                        0                                   10.990             0.500       0.0325     0.000               0.5325
      2503208594   WILMINGTON                                           19808    DE                             20070301                 20220201   FIXED                   Yes                                             180                    360                          178                      48,000.00                      47,974.75   Second Lien                                180000           228,000.00                         0.00                 240000              246000                    95.00               95.00   No MI                     NO MI                        0                                  12.4000            0.5000       0.0325    0.0000               0.5325
      2503208634   PROVIDENCE                                           02909    RI                             20070401                 20220201   FIXED                   Yes                                             180                    360                          179                      46,000.00                      45,987.80   Second Lien                                184000           230,000.00                         0.00                 230000              232000                   100.00              100.00   No MI                     NO MI                        0                                  12.3400            0.5000       0.0325    0.0000               0.5325
      2503208683   SPRING VALLEY                                        91977    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      73,800.00                      73,781.28   Second Lien                                295200           369,000.00                         0.00                 369000              390000                   100.00              100.00   No MI                     NO MI                        0                                  12.5400            0.5000       0.0325    0.0000               0.5325
      2503208720   MINNEAPOLIS                                          55413    MN                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      42,600.00                      42,591.41   Second Lien                                170400           213,000.00                         0.00                 213000              213000                   100.00              100.00   No MI                     NO MI                        0                                  13.5500            0.5000       0.0325    0.0000               0.5325
      2503208743   SOUTH EL MONTE                                       91733    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     108,000.00                     107,971.42   Second Lien                                432000           540,000.00                         0.00                 540000              544000                   100.00              100.00   No MI                     NO MI                        0                                  12.3500            0.5000       0.0325    0.0000               0.5325
      2503208777   PHOENIX                                              85035    AZ                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      30,900.00                      30,891.14   Second Lien                                164800           195,700.00                         0.00                      -          206,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.990             0.500       0.0325     0.000               0.5325
      2503208833   PROVIDENCE                                           02909    RI                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      67,000.00                      66,975.26   Second Lien                                268000           335,000.00                         0.00                 335000              335000                   100.00              100.00   No MI                     NO MI                        0                                  10.8400            0.5000       0.0325    0.0000               0.5325
      2503208891   LANCASTER                                            93536    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     113,000.00                     112,970.03   Second Lien                                452000           565,000.00                         0.00                      -          565,000.00                   100.00              100.00   No MI                     NO MI                        0                                   12.340             0.500       0.0325     0.000               0.5325
      2503208925   RENTON                                               98055    WA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      41,000.00                      40,992.71   Second Lien                                153750           194,750.00                         0.00                 205000              205000                    95.00               95.00   No MI                     NO MI                        0                                  14.1000            0.5000       0.0325    0.0000               0.5325
      2503208958   MIAMI LAKES                                          33016    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     166,250.00                     166,180.14   Second Lien                                498750           665,000.00                         0.00                 665000              665000                   100.00              100.00   No MI                     NO MI                        0                                  10.2400            0.5000       0.0325    0.0000               0.5325
      2503208999   HOFFMAN ESTATES                                      60192    IL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     148,000.00                     147,948.64   Second Lien                                555000           703,000.00                         0.00                      -          740,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.125             0.500       0.0325     0.000               0.5325
      2503209019   ORLANDO                                              32835    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      62,150.00                      62,136.64   Second Lien                                248700           310,850.00                         0.00                 310900              310900                    99.99               99.99   No MI                     NO MI                        0                                  13.2700            0.5000       0.0325    0.0000               0.5325
      2503209022   THOSAND OAKS                                         91230    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     515,000.00                     515,000.00   First Lien                                      0           515,000.00                         0.00                 794184              815000                    64.85               64.85   No MI                     NO MI                        0                                   5.2500            0.2500       0.0325    0.0000               0.2825
      2503209047   AURORA                                               60505    IL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      45,000.00                      44,988.99   Second Lien                                157500           202,500.00                         0.00                      -          225,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.700             0.500       0.0325     0.000               0.5325
      2503209086   ORLANDO                                              32811    FL                             20070301                 20220301   FIXED                   Yes                                             180                    360                          178                      27,900.00                      27,885.32   Second Lien                                104625           132,525.00                         0.00                 139500              150000                    95.00               95.00   No MI                     NO MI                        0                                  12.4000            0.5000       0.0325    0.0000               0.5325
      2503209106   LAS VEGAS                                            89144    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                      -          296,000.00                    74.33               74.33   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503209123   MURRIETA                                             92563    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     135,000.00                     134,959.62   Second Lien                                540000           675,000.00                         0.00                 675000              675000                   100.00              100.00   No MI                     NO MI                        0                                  11.8000            0.5000       0.0325    0.0000               0.5325
      2503209130   KENT                                                 98031    WA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     225,600.00                     225,600.00   First Lien                                      0           267,900.00                    42,300.00                      -          282,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503209131   KENT                                                 98031    WA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      42,300.00                      42,290.08   Second Lien                                225600           267,900.00                         0.00                      -          282,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.890             0.500       0.0325     0.000               0.5325
      2503209143   LOS ANGELES                                          90022    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      69,000.00                      68,975.93   Second Lien                                396000           465,000.00                         0.00                      -          495,000.00                    93.94               93.94   No MI                     NO MI                        0                                   11.100             0.500       0.0325     0.000               0.5325
      2503209149   GRAIN VALLEY                                         64029    MO                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      47,000.00                      46,984.56   Second Lien                                176250           223,250.00                         0.00                 235000              240000                    95.00               95.00   No MI                     NO MI                        0                                  11.3750            0.5000       0.0325    0.0000               0.5325
      2503209170   KANEOHE                                              96744    HI                             20070501                 20220301   FIXED                   Yes                                             360                    480                          360                     525,000.00                     525,000.00   First Lien                                      0           525,000.00                         0.00                      -        1,300,000.00                    40.39               40.39   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503209189   BLOOMINGTON                                          92316    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     100,000.00                      99,974.12   Second Lien                                400000           500,000.00                         0.00                 500000              500000                   100.00              100.00   No MI                     NO MI                        0                                  12.4500            0.5000       0.0325    0.0000               0.5325
      2503209245   MINNEAPOLIS                                          55443    MN                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      60,000.00                      59,983.36   Second Lien                                225000           285,000.00                         0.00                 300000              300000                    95.00               95.00   No MI                     NO MI                        0                                  12.1400            0.5000       0.0325    0.0000               0.5325
      2503209267   LOS ANGELES                                          90011    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     130,000.00                     129,956.02   Second Lien                                520000           650,000.00                         0.00                 650000              650000                   100.00              100.00   No MI                     NO MI                        0                                  11.2400            0.5000       0.0325    0.0000               0.5325
      2503209268   WOODBRIDGE                                           22193    VA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     643,500.00                     643,500.00   First Lien                                      0           643,500.00                         0.00                      -          715,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.990             0.375       0.0325     0.520               0.9275
      2503209281   HAYWARD                                              94541    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     152,000.00                     151,961.10   Second Lien                                608000           760,000.00                         0.00                 760000              760000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503209322   CHICAGO                                              60624    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                 475000              537000                    80.00               80.00   No MI                     NO MI                        0                                   9.7200            0.3750       0.0325    0.0000               0.4075
      2503209337   ASHBURN                                              20147    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     371,000.00                     371,000.00   First Lien                                      0           371,000.00                         0.00                      -          575,000.00                    64.53               64.53   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503209367   WEST PALM BEACH                                      33413    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      29,200.00                      29,191.72   Second Lien                                233600           262,800.00                         0.00                      -          292,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.040             0.500       0.0325     0.000               0.5325
      2503209386   JERSEY CITY                                          07304    NJ                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      48,000.00                      47,989.51   Second Lien                                240000           288,000.00                         0.00                      -          320,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.200             0.500       0.0325     0.000               0.5325
      2503209499   BROOKLYN                                             11206    NY                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     135,000.00                     134,969.76   Second Lien                                540000           675,000.00                         0.00                 675000              675000                   100.00              100.00   No MI                     NO MI                        0                                  13.0900            0.5000       0.0325    0.0000               0.5325
      2503209519   FORT LAUDERDALE                                      33318    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      43,500.00                      43,489.09   Second Lien                                217500           261,000.00                         0.00                 290000              295000                    90.00               90.00   No MI                     NO MI                        0                                  12.5900            0.5000       0.0325    0.0000               0.5325
      2503209590   LOS ANGELES                                          90062    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      91,000.00                      90,973.09   Second Lien                                364000           455,000.00                         0.00                 455000              455000                   100.00              100.00   No MI                     NO MI                        0                                  11.8500            0.5000       0.0325    0.0000               0.5325
      2503209606   SAN DIEGO                                            92117    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     291,000.00                     291,000.00   First Lien                                      0           291,000.00                         0.00                      -          300,000.00                    97.00               97.00   PMI                       LPMI                        35                                    7.250             0.375       0.0325     0.670               1.0775
      2503209608   PROVIDENCE                                           02907    RI                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      87,000.00                      86,974.21   Second Lien                                261000           348,000.00                         0.00                 348000              348000                   100.00              100.00   No MI                     NO MI                        0                                  11.8400            0.5000       0.0325    0.0000               0.5325
      2503209620   SIOUX FALLS                                          57103    SD                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      20,000.00                      19,994.88   Second Lien                                 73550            93,550.00                         0.00                  98500               98500                    94.98               94.98   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503209644   PARAMOUNT                                            90723    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     105,800.00                     105,756.95   Second Lien                                423200           529,000.00                         0.00                 529000              529000                   100.00              100.00   No MI                     NO MI                        0                                  10.3900            0.5000       0.0325    0.0000               0.5325
      2503209651   CHESTERFIELD                                         23832    VA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      23,250.00                      23,245.25   Second Lien                                116250           139,500.00                         0.00                      -          155,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.494             0.500       0.0325     0.000               0.5325
      2503209721   RICHMOND HILL                                        11419    NY                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     112,350.00                     112,323.39   Second Lien                                449400           561,750.00                         0.00                 561800              565000                   100.00              100.00   No MI                     NO MI                        0                                  12.8440            0.5000       0.0325    0.0000               0.5325
      2503209743   CORAL SPRINGS                                        33065    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      87,250.00                      87,227.87   Second Lien                                261750           349,000.00                         0.00                 349000              380000                   100.00              100.00   No MI                     NO MI                        0                                  12.5400            0.5000       0.0325    0.0000               0.5325
      2503209745   BRONX                                                10462    NY                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     103,000.00                     102,973.58   Second Lien                                386250           489,250.00                         0.00                 515000              515000                    95.00               95.00   No MI                     NO MI                        0                                  12.4900            0.5000       0.0325    0.0000               0.5325
      2503209746   BOCA RATON                                           33434    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     117,750.00                     117,717.34   Second Lien                                628000           745,750.00                         0.00                 785000              785000                    95.00               95.00   No MI                     NO MI                        0                                  12.1400            0.5000       0.0325    0.0000               0.5325
      2503209762   LOS ANGELES                                          90043    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      48,200.00                      48,183.33   Second Lien                                385600           433,800.00                         0.00                      -          482,000.00                    90.00               90.00   No MI                     NO MI                        0                                   11.140             0.500       0.0325     0.000               0.5325
      2503209785   SALINAS                                              93905    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     464,000.00                     463,688.04   First Lien                                      0           464,000.00                         0.00                      -          580,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503209788   HOLLISTER                                            95023    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     386,550.00                     386,448.27   Second Lien                                800000         1,186,550.00                         0.00                1249000             1249000                    95.00               95.00   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      2503209794   SUNNY ISLES BEACH                                    33160    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      70,000.00                      69,983.03   Second Lien                                280000           350,000.00                         0.00                      -          350,000.00                   100.00              100.00   No MI                     NO MI                        0                                   12.740             0.500       0.0325     0.000               0.5325
      2503209837   PORTSMOUTH                                           23704    VA                             20070401                 20220301   ARMS                    Yes                                             360                    480                          359                     287,200.00                     287,123.49   First Lien                                      0           287,200.00                         0.00                      -          359,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      2503209838   MYRTLE BEACH                                         29579    SC                             20070401                 20370301   FIXED                   No                                              360                    360                          359                      24,075.00                      24,067.80   Second Lien                                128400           152,475.00                         0.00                 160500              165000                    95.00               95.00   No MI                     NO MI                        0                                  11.8000            0.5000       0.0325    0.0000               0.5325
      2503209974   DAVIE                                                33328    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      53,750.00                      53,736.29   Second Lien                                150500           204,250.00                         0.00                 215000              263000                    95.00               95.00   No MI                     NO MI                        0                                  12.5150            0.5000       0.0325    0.0000               0.5325
      2503210023   OAKLAND                                              94602    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     109,500.00                     109,465.39   Second Lien                                584000           693,500.00                         0.00                      -          730,000.00                    95.00               95.00   No MI                     NO MI                        0                                   11.550             0.500       0.0325     0.000               0.5325
      2503210036   MIAMI                                                33176    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      39,750.00                      39,737.55   Second Lien                                119250           159,000.00                         0.00                 159000              168000                   100.00              100.00   No MI                     NO MI                        0                                  11.5900            0.5000       0.0325    0.0000               0.5325
      2503210037   RIALTO                                               92376    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     273,000.00                     273,000.00   First Lien                                      0           351,000.00                    78,000.00                      -          390,000.00                    70.00               90.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503210129   RICHMOND                                             23223    VA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      32,000.00                      31,991.70   Second Lien                                128000           160,000.00                         0.00                 160000              165000                   100.00              100.00   No MI                     NO MI                        0                                  12.4400            0.5000       0.0325    0.0000               0.5325
      2503210258   VISALIA                                              93291    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     127,920.00                     127,920.00   First Lien                                      0           127,920.00                         0.00                 159900              165000                    80.00               80.00   No MI                     NO MI                        0                                   6.7500            0.2500       0.0325    0.0000               0.2825
      2503210263   COON RAPIDS                                          55448    MN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     178,000.00                     178,000.00   First Lien                                      0           202,374.00                    24,374.00                      -          260,000.00                    68.47               77.84   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503210265   SAN BERNARDINO AREA                                  92407    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     281,000.00                     281,000.00   First Lien                                      0           281,000.00                         0.00                      -          343,000.00                    81.93               81.93   PMI                       BPMI                        12                                    8.050             0.375       0.0325     0.000               0.4075
      2503210353   ORLANDO                                              32818    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      43,600.00                      43,591.86   Second Lien                                163500           207,100.00                         0.00                      -          218,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.890             0.500       0.0325     0.000               0.5325
      2503210363   SANTA ROSA                                           95403    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     568,000.00                     568,000.00   First Lien                                      0           568,000.00                         0.00                      -          829,500.00                    68.48               68.48   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      2503210442   LOS ANGELES (WEST HILLS A                            91307    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     143,000.00                     142,962.37   Second Lien                                572000           715,000.00                         0.00                 715000              800000                   100.00              100.00   No MI                     NO MI                        0                                  12.3750            0.5000       0.0325    0.0000               0.5325
      2503210459   HONOLULU                                             96817    HI                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      54,000.00                      53,981.74   Second Lien                                216000           270,000.00                         0.00                 270000              278000                   100.00              100.00   No MI                     NO MI                        0                                  11.2440            0.5000       0.0325    0.0000               0.5325
      2503210478   LAS VEGAS                                            89178    NV                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     124,672.00                     124,641.43   Second Lien                                498688           623,360.00                         0.00                 623360              624000                   100.00              100.00   No MI                     NO MI                        0                                  12.6900            0.5000       0.0325    0.0000               0.5325
      2503210569   OPA LOCKA                                            33056    FL                             20070401                 20220301   ARMS                    Yes                                             360                    480                          359                     132,750.00                     132,727.96   First Lien                                      0           132,750.00                         0.00                      -          177,000.00                    75.00               75.00   No MI                     NO MI                        0                                    9.840             0.375       0.0325     0.000               0.4075
      2503210596   POMONA                                               91766    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      70,350.00                      70,331.34   Second Lien                                375200           445,550.00                         0.00                      -          470,000.00                    94.80               94.80   No MI                     NO MI                        0                                   12.340             0.500       0.0325     0.000               0.5325
      2503210649   NORTH MIAMI                                          33181    FL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     180,000.00                     179,948.38   Second Lien                                540000           720,000.00                         0.00                 720000              720000                   100.00              100.00   No MI                     NO MI                        0                                  11.9900            0.5000       0.0325    0.0000               0.5325
      2503210809   JACKSONVILLE                                         32244    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     138,900.00                     138,900.00   First Lien                                      0           166,650.00                    27,750.00                 185200              187000                    75.00               89.99   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      2503210868   LAKEWOOD                                             90805    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     100,000.00                      99,971.33   Second Lien                                400000           500,000.00                         0.00                 500000              500000                   100.00              100.00   No MI                     NO MI                        0                                  11.9900            0.5000       0.0325    0.0000               0.5325
      2503210870   WHITTIER                                             90601    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     400,000.00                     399,889.31   Second Lien                                750000         1,150,000.00                         0.00                1225000             1225000                    93.88               93.88   No MI                     NO MI                        0                                  12.1500            0.5000       0.0325    0.0000               0.5325
      2503210917   TAHOE CITY                                           96145    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     735,000.00                     735,000.00   First Lien                                      0           735,000.00                         0.00                      -        1,050,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.750             0.250       0.0325     0.000               0.2825
      2503210966   ALBUQUERQUE                                          87102    NM                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     109,800.00                     109,800.00   First Lien                                      0           109,800.00                         0.00                 122000              133000                    90.00               90.00   PMI                       LPMI                        25                                  10.7200            0.3750       0.0325    0.8200               1.2275
      2503211005   MESA                                                 85209    AZ                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     270,000.00                     269,933.08   First Lien                                      0           270,000.00                         0.00                      -          300,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.990             0.375       0.0325     1.540               1.9475
      2503211020   WESTON                                               33326    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      51,550.00                      51,539.28   Second Lien                                154650           206,200.00                         0.00                 206200              213000                   100.00              100.00   No MI                     NO MI                        0                                  13.4150            0.5000       0.0325    0.0000               0.5325
      2503211108   HONOLULU                                             96819    HI                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     476,000.00                     476,000.00   First Lien                                      0           595,000.00                   119,000.00                 595000              600000                    80.00              100.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      2503211326   ESCONDIDO                                            92026    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     432,000.00                     432,000.00   First Lien                                      0           527,600.00                    95,600.00                      -          540,000.00                    80.00               97.71   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      2503211373   IRVINE                                               92602    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     172,500.00                     172,455.76   Second Lien                                517500           690,000.00                         0.00                      -          690,000.00                   100.00              100.00   No MI                     NO MI                        0                                   12.490             0.500       0.0325     0.000               0.5325
      2503211427   LAS VEGAS                                            89110    NV                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      22,500.00                      22,494.15   Second Lien                                120000           142,500.00                         0.00                      -          150,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.430             0.500       0.0325     0.000               0.5325
      2503211458   BROOKLYN                                             11221    NY                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     187,500.00                     187,455.90   Second Lien                                562500           750,000.00                         0.00                 750000              760000                   100.00              100.00   No MI                     NO MI                        0                                  12.8750            0.5000       0.0325    0.0000               0.5325
      2503211465   SUNNYVALE                                            94085    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           625,000.00                   125,000.00                 625000              625000                    80.00              100.00   No MI                     NO MI                        0                                   6.5750            0.3750       0.0325    0.0000               0.4075
      2503211498   APOPKA                                               32703    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     225,400.00                     225,400.00   First Lien                                      0           253,575.00                    28,175.00                      -          281,750.00                    80.00               90.00   No MI                     NO MI                        0                                    6.817             0.375       0.0325     0.000               0.4075
      2503211501   MIAMI                                                33155    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      34,350.00                      34,341.86   Second Lien                                137250           171,600.00                         0.00                 171600              171600                   100.00              100.00   No MI                     NO MI                        0                                  12.8400            0.5000       0.0325    0.0000               0.5325
      2503211543   CAPE CORAL                                           33904    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     166,400.00                     166,400.00   First Lien                                      0           166,400.00                         0.00                      -          208,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503211653   HESPERIA                                             92345    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     283,200.00                     283,200.00   First Lien                                      0           318,600.00                    35,400.00                      -          354,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.450             0.375       0.0325     0.000               0.4075
      2503211660   MIAMI                                                33177    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     155,200.00                     155,200.00   First Lien                                      0           155,200.00                         0.00                      -          194,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503211681   MIAMI                                                33162    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     236,000.00                     235,892.21   First Lien                                      0           236,000.00                         0.00                      -          295,000.00                    80.00               80.00   No MI                     NO MI                        0                                    9.850             0.375       0.0325     0.000               0.4075
      2503211683   SACRAMENTO                                           95829    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      55,250.00                      55,235.67   Second Lien                                281250           336,500.00                         0.00                      -          375,000.00                    89.74               89.74   No MI                     NO MI                        0                                   12.440             0.500       0.0325     0.000               0.5325
      2503211691   KEAAU                                                96749    HI                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      27,750.00                      27,741.68   Second Lien                                148000           175,750.00                         0.00                 185000              211500                    95.00               95.00   No MI                     NO MI                        0                                  11.7900            0.5000       0.0325    0.0000               0.5325
      2503211805   HONOLULU                                             96818    HI                             20070601                 20220301   FIXED                   Yes                                             360                    480                          360                     747,000.00                     747,000.00   First Lien                                      0           747,000.00                         0.00                      -          830,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.250             0.250       0.0325     0.870               1.1525
      2503211829   LOS ANGELES (WILMINGTON A                            90744    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     128,600.00                     128,566.30   Second Lien                                450100           578,700.00                         0.00                      -          643,000.00                    90.00               90.00   No MI                     NO MI                        0                                   12.394             0.500       0.0325     0.000               0.5325
      2503211853   MUNDELEIN                                            60060    IL                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                     112,200.00                     112,170.24   Second Lien                                495000           607,200.00                         0.00                      -          660,000.00                    92.00               92.00   No MI                     NO MI                        0                                   12.340             0.500       0.0325     0.000               0.5325
      2503211856   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     269,300.00                     269,300.00   First Lien                                      0           269,300.00                         0.00                 283500              289000                    95.00               95.00   PMI                       LPMI                        30                                   8.5500            0.3750       0.0325    1.5700               1.9775
      2503211885   SEATTLE                                              98144    WA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      76,708.00                      76,692.83   Second Lien                                409112           485,820.00                         0.00                 511390              511390                    95.00               95.00   No MI                     NO MI                        0                                  13.6400            0.5000       0.0325    0.0000               0.5325
      2503211888   SANGER                                               93657    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     177,000.00                     177,000.00   First Lien                                      0           207,000.00                    30,000.00                      -          226,000.00                    78.32               91.60   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      2503211908   WATSONVILLE                                          95076    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     552,000.00                     552,000.00   First Lien                                      0           552,000.00                         0.00                      -          690,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503211940   PFLUGERVILLE                                         78660    TX                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      20,000.00                      19,995.10   Second Lien                                102386           122,386.00                         0.00                 128828              128828                    95.00               95.00   No MI                     NO MI                        0                                  12.6900            0.5000       0.0325    0.0000               0.5325
      2503212164   LOS ANGELES (SAN FERNANDO                            91340    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     517,750.00                     517,750.00   First Lien                                      0           517,750.00                         0.00                 545000              550000                    95.00               95.00   PMI                       LPMI                        30                                   8.7000            0.3750       0.0325    1.1600               1.5675
      2503212207   LINCOLN                                              95648    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     433,200.00                     433,200.00   First Lien                                      0           433,200.00                         0.00                      -          456,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.250             0.375       0.0325     1.130               1.5375
      2503212214   LAS VEGAS                                            89012    NV                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      53,750.00                      53,739.38   Second Lien                                150500           204,250.00                         0.00                 215000              215000                    95.00               95.00   No MI                     NO MI                        0                                  13.6400            0.5000       0.0325    0.0000               0.5325
      2503212258   LOS ANGELES (SUN VALLEY A                            91352    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     459,200.00                     459,200.00   First Lien                                      0           459,200.00                         0.00                      -          574,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503212273   COCOA                                                32927    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     224,800.00                     224,696.23   First Lien                                      0           251,250.00                    26,450.00                      -          264,500.00                    85.00               95.00   No MI                     NO MI                        0                                    9.800             0.375       0.0325     0.000               0.4075
      2503212278   WHITTIER AREA                                        90606    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     143,700.00                     143,656.54   Second Lien                                335300           479,000.00                         0.00                 480000              480000                    99.80               99.80   No MI                     NO MI                        0                                  11.7500            0.5000       0.0325    0.0000               0.5325
      2503212309   SAN DIEGO                                            92124    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                 490000              500000                    44.90               44.90   No MI                     NO MI                        0                                   5.7300            0.3750       0.0325    0.0000               0.4075
      2503212329   FULLERTON                                            92832    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     568,000.00                     568,000.00   First Lien                                      0           568,000.00                         0.00                 710000              725000                    80.00               80.00   No MI                     NO MI                        0                                   6.4900            0.3750       0.0325    0.0000               0.4075
      2503212347   HOMESTEAD                                            33033    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      43,738.00                      43,726.90   Second Lien                                233271           277,009.00                         0.00                 291589              305000                    95.00               95.00   No MI                     NO MI                        0                                  12.5400            0.5000       0.0325    0.0000               0.5325
      2503212354   MORENO VALLEY                                        92551    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      85,000.00                      84,976.43   Second Lien                                318750           403,750.00                         0.00                      -          429,000.00                    94.12               94.12   No MI                     NO MI                        0                                   12.140             0.500       0.0325     0.000               0.5325
      2503212425   COVINA                                               91722    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     334,000.00                     334,000.00   First Lien                                      0           334,000.00                         0.00                      -          595,000.00                    56.14               56.14   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      2503212443   MARTINEZ                                             94553    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     480,000.00                     480,000.00   First Lien                                      0           480,000.00                         0.00                      -          600,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.488             0.375       0.0325     0.000               0.4075
      2503212614   MIAMI                                                33135    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     112,000.00                     111,981.81   Second Lien                                420000           532,000.00                         0.00                 560000              560000                    95.00               95.00   No MI                     NO MI                        0                                  14.4950            0.5000       0.0325    0.0000               0.5325
      2503212622   BELL                                                 90201    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     339,500.00                     339,500.00   First Lien                                      0           339,500.00                         0.00                      -          530,000.00                    64.06               64.06   No MI                     NO MI                        0                                    6.195             0.250       0.0325     0.000               0.2825
      2503212634   VISALIA                                              93277    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     164,000.00                     164,000.00   First Lien                                      0           164,000.00                         0.00                      -          252,000.00                    65.08               65.08   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      2503212649   CHICAGO                                              60639    IL                             20070401                 20370301   FIXED                   No                                              360                    360                          359                     259,000.00                     258,765.86   First Lien                                      0           399,000.00                   140,000.00                      -          400,000.00                    64.75               99.75   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503212656   PAPAALOA                                             96780    HI                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -        1,400,000.00                    28.58               28.58   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      2503212706   SAN BERNARDINO                                       92404    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     273,000.00                     273,000.00   First Lien                                      0           317,445.00                    44,445.00                      -          375,000.00                    72.80               84.66   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503212742   WHEATLEY HEIGHT                                      11798    NY                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      81,000.00                      80,975.45   Second Lien                                324000           405,000.00                         0.00                 405000              435000                   100.00              100.00   No MI                     NO MI                        0                                  11.7400            0.5000       0.0325    0.0000               0.5325
      2503212748   CARMICHAEL                                           95608    CA                             20070401                 20220301   FIXED                   Yes                                             180                    360                          179                      56,000.00                      55,986.19   Second Lien                                265000           321,000.00                         0.00                      -          357,500.00                    89.80               89.80   No MI                     NO MI                        0                                   12.665             0.500       0.0325     0.000               0.5325
      2503212778   INDIANAPOLIS                                         46237    IN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      89,910.00                      89,910.00   First Lien                                      0            89,910.00                         0.00                  99900              101000                    90.00               90.00   PMI                       LPMI                        25                                   9.2100            0.3750       0.0325    0.8700               1.2775
      2503212948   RANCHO SANTA MARGARITA                               92688    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     361,600.00                     361,600.00   First Lien                                      0           452,000.00                    90,400.00                 452000              455000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503213006   ZEPHYRHILLS                                          33541    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      37,500.00                      37,490.06   Second Lien                                200000           237,500.00                         0.00                 250000              250000                    95.00               95.00   No MI                     NO MI                        0                                  12.3400            0.5000       0.0325    0.0000               0.5325
      2503213025   FOSTER CITY                                          94404    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,031,800.00                   1,031,800.00   First Lien                                      0         1,031,800.00                         0.00                      -        1,350,000.00                    76.43               76.43   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503213030   OCEANSIDE                                            92057    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     348,750.00                     348,389.33   First Lien                                      0           348,750.00                         0.00                      -          465,000.00                    75.00               75.00   No MI                     NO MI                        0                                    5.800             0.375       0.0325     0.000               0.4075
      2503213035   PITTSBURG                                            94565    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      67,500.00                      67,443.63   Second Lien                                337500           405,000.00                         0.00                      -          450,000.00                    90.00               90.00   No MI                     NO MI                        0                                   13.220             0.500       0.0325     0.000               0.5325
      2503213040   STATEN ISLAND                                        10305    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     581,250.00                     581,250.00   First Lien                                      0           697,500.00                   116,250.00                      -          775,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.380             0.375       0.0325     0.000               0.4075
      2503213054   OCEANSIDE                                            92054    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     232,448.00                     232,448.00   First Lien                                      0           290,560.00                    58,112.00                 290560              294000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      2503213083   CORONA                                               92880    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     439,500.00                     439,500.00   First Lien                                      0           439,500.00                         0.00                      -          586,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.809             0.375       0.0325     0.000               0.4075
      2503213124   MIAMI BEACH                                          33139    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     280,150.00                     280,150.00   First Lien                                      0           280,150.00                         0.00                 294900              305000                    95.00               95.00   PMI                       BPMI                        30                                   7.5400            0.3750       0.0325    0.0000               0.4075
      2503213151   WEST SACRAMENTO                                      95691    CA                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     232,500.00                     232,500.00   First Lien                                      0           232,500.00                         0.00                      -          310,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503213233   STOCKTON                                             95205    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     131,000.00                     131,000.00   First Lien                                      0           131,000.00                         0.00                      -          285,000.00                    45.97               45.97   No MI                     NO MI                        0                                    6.450             0.250       0.0325     0.000               0.2825
      2503213234   WEST COVINA                                          91790    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     359,250.00                     359,250.00   First Lien                                      0           479,000.00                   119,750.00                 479000              479000                    75.00              100.00   No MI                     NO MI                        0                                   6.1200            0.3750       0.0325    0.0000               0.4075
      2503213241   MANTECA                                              95337    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     410,400.00                     410,400.00   First Lien                                      0           410,400.00                         0.00                      -          513,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.550             0.375       0.0325     0.000               0.4075
      2503213298   WALPOLE                                              02081    MA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          530,000.00                    94.34               94.34   PMI                       LPMI                        30                                    8.500             0.375       0.0325     0.430               0.8375
      2503213337   LANCASTER                                            17603    PA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      20,600.00                      20,596.76   Second Lien                                 77250            97,850.00                         0.00                 103000              120000                    95.00               95.00   No MI                     NO MI                        0                                  14.6400            0.5000       0.0325    0.0000               0.5325
      2503213350   IRVINE                                               92620    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     650,000.00                     650,000.00   First Lien                                      0           650,000.00                         0.00                      -        1,090,000.00                    59.64               59.64   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503213384   PINELLAS PARK                                        33762    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     229,500.00                     229,500.00   First Lien                                      0           229,500.00                         0.00                      -          255,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.750             0.375       0.0325     1.410               1.8175
      2503213425   IRVINE                                               92606    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     520,000.00                     520,000.00   First Lien                                      0           650,000.00                   130,000.00                 650000              650000                    80.00              100.00   No MI                     NO MI                        0                                   5.4500            0.3750       0.0325    0.0000               0.4075
      2503213496   ROSAMOND                                             93560    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     271,000.00                     271,000.00   First Lien                                      0           271,000.00                         0.00                      -          396,000.00                    68.44               68.44   No MI                     NO MI                        0                                    6.400             0.375       0.0325     0.000               0.4075
      2503213518   MESA                                                 85206    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     225,000.00                     225,000.00   First Lien                                      0           225,000.00                         0.00                      -          250,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.990             0.375       0.0325     1.340               1.7475
      2503213534   PLANTATION                                           33323    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     900,000.00                     900,000.00   First Lien                                      0           960,000.00                    60,000.00                1200123             1200000                    75.00               80.00   No MI                     NO MI                        0                                   6.4500            0.3750       0.0325    0.0000               0.4075
      2503213535   MIAMI                                                33127    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     149,000.00                     149,000.00   First Lien                                      0           149,000.00                         0.00                      -          245,000.00                    60.82               60.82   No MI                     NO MI                        0                                    7.815             0.375       0.0325     0.000               0.4075
      2503213553   BOWIE                                                20720    MD                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     155,000.00                     154,944.73   Second Lien                                465000           620,000.00                         0.00                 620000              635000                   100.00              100.00   No MI                     NO MI                        0                                  11.0000            0.5000       0.0325    0.0000               0.5325
      2503213580   TACOMA                                               98404    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          255,000.00                    94.12               94.12   PMI                       BPMI                        30                                    6.750             0.375       0.0325     0.000               0.4075
      2503213591   (WOODLAND HILLS AREA) LOS                            91364    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     825,000.00                     825,000.00   First Lien                                      0           825,000.00                         0.00                      -        1,100,000.00                    75.00               75.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503213615   SAN DIEGO                                            92120    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     468,000.00                     468,000.00   First Lien                                      0           585,000.00                   117,000.00                 585000              625000                    80.00              100.00   No MI                     NO MI                        0                                   5.9000            0.3750       0.0325    0.0000               0.4075
      2503213618   MIAMI                                                33145    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     258,300.00                     258,300.00   First Lien                                      0           258,300.00                         0.00                 322900              347000                    80.00               80.00   No MI                     NO MI                        0                                   7.9630            0.3750       0.0325    0.0000               0.4075
      2503213647   MIRAMAR                                              33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     130,000.00                     130,000.00   First Lien                                      0           150,000.00                    20,000.00                      -          175,000.00                    74.29               85.72   No MI                     NO MI                        0                                    6.400             0.375       0.0325     0.000               0.4075
      2503213650   LAS VEGAS                                            89121    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     384,000.00                     384,000.00   First Lien                                      0           384,000.00                         0.00                      -          480,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.663             0.375       0.0325     0.000               0.4075
      2503213654   MESA                                                 85206    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     188,000.00                     188,000.00   First Lien                                      0           188,000.00                         0.00                      -          222,000.00                    84.69               84.69   PMI                       LPMI                        22                                    5.875             0.375       0.0325     0.610               1.0175
      2503213687   MANTECA                                              95336    CA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      97,800.00                      97,773.94   Second Lien                                521600           619,400.00                         0.00                      -          652,000.00                    95.00               95.00   No MI                     NO MI                        0                                   12.319             0.500       0.0325     0.000               0.5325
      2503213717   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     163,200.00                     163,200.00   First Lien                                      0           163,200.00                         0.00                 204000              205000                    80.00               80.00   No MI                     NO MI                        0                                   7.5400            0.3750       0.0325    0.0000               0.4075
      2503213771   LOS ANGELES                                          90067    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -          750,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503213776   LOS ANGELES                                          90041    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     289,500.00                     289,500.00   First Lien                                      0           289,500.00                         0.00                      -          505,000.00                    57.33               57.33   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503213822   DUBLIN                                               94568    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     243,093.00                     243,093.00   First Lien                                      0           243,093.00                         0.00                 543093              580000                    44.77               44.77   No MI                     NO MI                        0                                   6.3750            0.2500       0.0325    0.0000               0.2825
      2503213886   WARREN                                               48092    MI                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     333,765.00                     333,765.00   First Lien                                      0           352,307.00                    18,542.00                 370850              380000                    90.00               95.00   PMI                       LPMI                        25                                   9.7900            0.3750       0.0325    1.2100               1.6175
      2503213903   HAWAIIAN GARDENS                                     90716    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          490,000.00                    32.66               32.66   No MI                     NO MI                        0                                    5.350             0.250       0.0325     0.000               0.2825
      2503213904   SAN PABLO                                            94806    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     290,250.00                     290,250.00   First Lien                                      0           387,000.00                    96,750.00                 387000              387000                    75.00              100.00   No MI                     NO MI                        0                                   6.1100            0.3750       0.0325    0.0000               0.4075
      2503213906   WEST CHICAGO                                         60185    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     456,800.00                     456,800.00   First Lien                                      0           571,000.00                   114,200.00                      -          571,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.550             0.375       0.0325     0.000               0.4075
      2503213921   PORTSMOUTH                                           23703    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      90,000.00                      90,000.00   First Lien                                      0            95,000.00                     5,000.00                 100000              100000                    90.00               95.00   PMI                       LPMI                        25                                  11.0000            0.3750       0.0325    1.3400               1.7475
      2503213949   LOS ANGELES AREA                                     90059    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     344,000.00                     344,000.00   First Lien                                      0           430,000.00                    86,000.00                 430000              430000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      2503213972   POMONA                                               91766    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     454,750.00                     454,750.00   First Lien                                      0           454,750.00                         0.00                      -          535,000.00                    85.00               85.00   PMI                       LPMI                        22                                    8.125             0.375       0.0325     0.840               1.2475
      2503213981   LONG BEACH                                           90805    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     385,000.00                     385,000.00   First Lien                                      0           385,000.00                         0.00                      -          510,000.00                    75.50               75.50   No MI                     NO MI                        0                                    6.240             0.250       0.0325     0.000               0.2825
      2503213990   CHICAGO                                              60636    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     128,250.00                     128,250.00   First Lien                                      0           128,250.00                         0.00                 135000              145000                    95.00               95.00   PMI                       LPMI                        30                                   8.6750            0.3750       0.0325    0.6800               1.0875
      2503214010   FORT LAUDERDALE                                      33305    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     944,000.00                     944,000.00   First Lien                                      0         1,180,000.00                   236,000.00                1180000             1400000                    80.00              100.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      2503214049   ESCONDIDO                                            92026    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     316,000.00                     316,000.00   First Lien                                      0           316,000.00                         0.00                      -          395,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503214062   RESEDA                                               91335    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     399,000.00                     399,000.00   First Lien                                      0           399,000.00                         0.00                      -          570,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503214086   CHESAPEAKE                                           23323    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     241,200.00                     241,200.00   First Lien                                      0           241,200.00                         0.00                      -          349,400.00                    69.04               69.04   No MI                     NO MI                        0                                    7.495             0.375       0.0325     0.000               0.4075
      2503214087   LAND O LAKES                                         34639    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     323,000.00                     323,000.00   First Lien                                      0           323,000.00                         0.00                 340000              345000                    95.00               95.00   PMI                       LPMI                        30                                  10.5500            0.3750       0.0325    2.1400               2.5475
      2503214090   MIAMI SHORES                                         33138    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     656,000.00                     656,000.00   First Lien                                      0           820,000.00                   164,000.00                 820000              820000                    80.00              100.00   No MI                     NO MI                        0                                   8.1620            0.3750       0.0325    0.0000               0.4075
      2503214091   PASADENA                                             91103    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -          954,000.00                    78.62               78.62   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503214123   HACIENDA HEIGHTS AREA                                91745    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     355,000.00                     355,000.00   First Lien                                      0           355,000.00                         0.00                      -          535,000.00                    66.36               66.36   No MI                     NO MI                        0                                    6.175             0.375       0.0325     0.000               0.4075
      2503214143   KAILUA-KONA                                          96740    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     191,250.00                     191,250.00   First Lien                                      0           191,250.00                         0.00                      -          255,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.730             0.375       0.0325     0.000               0.4075
      2503214156   POMPANO BEACH                                        33068    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     299,200.00                     299,200.00   First Lien                                      0           299,200.00                         0.00                      -          352,000.00                    85.00               85.00   PMI                       LPMI                        22                                    7.125             0.375       0.0325     0.570               0.9775
      2503214165   LOS ANGELES                                          90037    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     517,425.00                     517,425.00   First Lien                                      0           689,900.00                   172,475.00                 689900              690000                    75.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      2503214170   ROSCOE                                               61073    IL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      25,050.00                      25,044.01   Second Lien                                 78350           103,400.00                         0.00                 114900              114900                    90.00               90.00   No MI                     NO MI                        0                                  12.8000            0.5000       0.0325    0.0000               0.5325
      2503214173   CHICAGO                                              60624    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     312,200.00                     312,200.00   First Lien                                      0           312,200.00                         0.00                      -          347,000.00                    89.98               89.98   PMI                       LPMI                        25                                    9.500             0.375       0.0325     1.340               1.7475
      2503214232   SUMMERVILLE                                          29485    SC                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     129,000.00                     129,000.00   First Lien                                      0           129,000.00                         0.00                      -          193,000.00                    66.84               66.84   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      2503214235   RICHMOND                                             23234    VA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      20,000.00                      19,996.14   Second Lien                                 70250            90,250.00                         0.00                  95000              120000                    95.00               95.00   No MI                     NO MI                        0                                  13.7400            0.5000       0.0325    0.0000               0.5325
      2503214245   SAMMAMISH                                            98074    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                 626000              650000                    79.88               79.88   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      2503214262   PASADENA                                             91104    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     592,000.00                     592,000.00   First Lien                                      0           592,000.00                         0.00                      -          740,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.413             0.375       0.0325     0.000               0.4075
      2503214301   SPRING LAKE PARK                                     55432    MN                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     177,000.00                     177,000.00   First Lien                                      0           177,000.00                         0.00                      -          190,000.00                    93.16               93.16   PMI                       LPMI                        30                                    6.750             0.375       0.0325     0.940               1.3475
      2503214320   ELK GROVE                                            95624    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     213,750.00                     213,750.00   First Lien                                      0           253,797.00                    40,047.00                      -          285,000.00                    75.00               89.06   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503214331   LOS ANGELES                                          91605    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                      -          600,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503214336   GREENFIELD                                           93927    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     215,000.00                     215,000.00   First Lien                                      0           215,000.00                         0.00                      -          395,000.00                    54.44               54.44   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503214376   GRANTS PASS                                          97526    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     143,100.00                     143,100.00   First Lien                                      0           143,100.00                         0.00                      -          159,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.875             0.375       0.0325     1.460               1.8675
      2503214377   ROWLAND HEIGHTS                                      91748    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     618,400.00                     618,400.00   First Lien                                      0           618,400.00                         0.00                 773000              800000                    80.00               80.00   No MI                     NO MI                        0                                   6.0000            0.3750       0.0325    0.0000               0.4075
      2503214380   KILLINGWORTH                                         06419    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     935,000.00                     935,000.00   First Lien                                      0           935,000.00                         0.00                      -        1,175,000.00                    79.58               79.58   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503214415   VISALIA                                              93291    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     119,920.00                     119,920.00   First Lien                                      0           119,920.00                         0.00                 149900              160000                    80.00               80.00   No MI                     NO MI                        0                                   6.7500            0.2500       0.0325    0.0000               0.2825
      2503214429   WEST POINT                                           84015    UT                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     172,500.00                     172,500.00   First Lien                                      0           172,500.00                         0.00                      -          230,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503214433   LAS VEGAS                                            89122    NV                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     299,000.00                     299,000.00   First Lien                                      0           299,000.00                         0.00                      -          440,000.00                    67.96               67.96   No MI                     NO MI                        0                                    6.450             0.250       0.0325     0.000               0.2825
      2503214438   CARLSBAD                                             92009    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     352,000.00                     352,000.00   First Lien                                      0           439,600.00                    87,600.00                      -          440,000.00                    80.00               99.91   No MI                     NO MI                        0                                    6.895             0.375       0.0325     0.000               0.4075
      2503214441   TAMPA                                                33634    FL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      23,800.00                      23,795.14   Second Lien                                 89250           113,050.00                         0.00                 119000              155000                    95.00               95.00   No MI                     NO MI                        0                                  13.5000            0.5000       0.0325    0.0000               0.5325
      2503214465   EAST ROCKAWAY                                        11520    NY                             20070601                 20220501   FIXED                   No                                              180                    180                          180                     882,500.00                     882,500.00   First Lien                                      0           882,500.00                         0.00                      -        1,200,000.00                    73.55               73.55   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503214475   SACRAMENTO                                           95828    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           210,000.00                         0.00                      -          350,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.900             0.375       0.0325     0.000               0.4075
      2503214490   SAN BERNARDINO                                       92411    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     195,000.00                     195,000.00   First Lien                                      0           195,000.00                         0.00                      -          305,000.00                    63.94               63.94   No MI                     NO MI                        0                                    7.600             0.375       0.0325     0.000               0.4075
      2503214515   CORONA AREA                                          92880    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     591,200.00                     591,200.00   First Lien                                      0           739,000.00                   147,800.00                 739000              744000                    80.00              100.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      2503214522   LA PALMA                                             90623    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           575,000.00                   115,000.00                 575000              600000                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      2503214536   YUMA                                                 85364    AZ                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     104,500.00                     104,500.00   First Lien                                      0           104,500.00                         0.00                      -          190,000.00                    55.00               55.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      2503214541   HERCULES                                             94547    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     496,000.00                     496,000.00   First Lien                                      0           558,000.00                    62,000.00                 620000              620000                    80.00               90.00   No MI                     NO MI                        0                                   5.9900            0.3750       0.0325    0.0000               0.4075
      2503214542   SAN JUAN CAPISTRANO                                  92694    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           750,000.00                   150,000.00                      -          750,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.540             0.375       0.0325     0.000               0.4075
      2503214544   CAPE CORAL                                           33904    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     152,250.00                     152,250.00   First Lien                                      0           152,250.00                         0.00                      -          203,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503214547   HONOLULU                                             96813    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     172,000.00                     172,000.00   First Lien                                      0           172,000.00                         0.00                      -          215,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503214582   JAMAICA                                              11434    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     344,000.00                     344,000.00   First Lien                                      0           365,500.00                    21,500.00                      -          430,000.00                    80.00               85.00   No MI                     NO MI                        0                                    6.300             0.375       0.0325     0.000               0.4075
      2503214655   STOCKTON                                             95207    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           370,000.00                    20,000.00                      -          440,000.00                    79.55               84.10   No MI                     NO MI                        0                                    6.615             0.375       0.0325     0.000               0.4075
      2503214677   HARBOR CITY AREA                                     90710    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     285,000.00                     285,000.00   First Lien                                      0           430,000.00                   145,000.00                      -          430,000.00                    66.28              100.00   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503214682   BROOKLYN                                             11212    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     230,000.00                     230,000.00   First Lien                                      0           230,000.00                         0.00                      -          375,000.00                    61.34               61.34   No MI                     NO MI                        0                                    6.945             0.375       0.0325     0.000               0.4075
      2503214745   HOLMDEL                                              07733    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     860,000.00                     860,000.00   First Lien                                      0           860,000.00                         0.00                      -        1,275,000.00                    67.46               67.46   No MI                     NO MI                        0                                    5.650             0.375       0.0325     0.000               0.4075
      2503214765   HIALEAH                                              33012    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     101,250.00                     101,250.00   First Lien                                      0           121,500.00                    20,250.00                 135000              135000                    75.00               90.00   No MI                     NO MI                        0                                   6.3920            0.3750       0.0325    0.0000               0.4075
      2503214784   ROCKLEDGE                                            32955    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     204,100.00                     204,100.00   First Lien                                      0           204,100.00                         0.00                      -          215,000.00                    94.94               94.94   PMI                       LPMI                        30                                    8.310             0.375       0.0325     0.730               1.1375
      2503214803   CHINO                                                91710    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     484,000.00                     484,000.00   First Lien                                      0           484,000.00                         0.00                      -          605,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.320             0.250       0.0325     0.000               0.2825
      2503214812   LOS ANGELES                                          90002    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          460,000.00                    59.14               59.14   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503214814   SAGINAW                                              48603    MI                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     129,700.00                     129,700.00   First Lien                                      0           169,996.00                    40,296.00                      -          170,000.00                    76.30              100.00   No MI                     NO MI                        0                                    6.925             0.250       0.0325     0.000               0.2825
      2503214833   LOS ANGELES (PLAYA DEL RE                            90293    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           371,800.00                    21,800.00                 437500              440000                    80.00               84.99   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      2503214838   SOUTH OZONE PARK                                     11420    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           450,000.00                    90,000.00                 450000              450000                    80.00              100.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      2503214852   AUMSVILLE                                            97325    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     120,000.00                     120,000.00   First Lien                                      0           120,000.00                         0.00                      -          150,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503214853   LAKE MARY                                            32746    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     351,500.00                     351,500.00   First Lien                                      0           351,500.00                         0.00                 370000              370000                    95.00               95.00   PMI                       LPMI                        30                                   8.6300            0.3750       0.0325    1.7600               2.1675
      2503214855   NORWALK                                              90650    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     344,000.00                     344,000.00   First Lien                                      0           430,000.00                    86,000.00                 430000              442000                    80.00              100.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      2503214860   WALNUT CREEK                                         94595    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     732,750.00                     732,750.00   First Lien                                      0           879,250.00                   146,500.00                      -          977,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503214870   CHICAGO                                              60645    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                 300000              300000                    90.00               90.00   PMI                       LPMI                        25                                   9.8600            0.3750       0.0325    1.0700               1.4775
      2503214879   LONG BEACH                                           90807    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     446,000.00                     446,000.00   First Lien                                      0           557,500.00                   111,500.00                 557500              564000                    80.00              100.00   No MI                     NO MI                        0                                   6.1130            0.3750       0.0325    0.0000               0.4075
      2503214886   ROMEOVILLE                                           60446    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     110,950.00                     110,950.00   First Lien                                      0           150,550.00                    39,600.00                 158500              162000                    70.00               94.99   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      2503214897   TRACY                                                95376    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     297,000.00                     297,000.00   First Lien                                      0           297,000.00                         0.00                      -          575,000.00                    51.66               51.66   No MI                     NO MI                        0                                    5.675             0.375       0.0325     0.000               0.4075
      2503214911   MANTECA                                              95337    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     144,914.00                     144,914.00   First Lien                                      0           169,915.00                    25,001.00                 199900              210000                    72.50               85.00   No MI                     NO MI                        0                                   5.8000            0.3750       0.0325    0.0000               0.4075
      2503214949   CHICAGO                                              60615    IL                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                     171,750.00                     171,706.04   Second Lien                                515150           686,900.00                         0.00                 686900              705000                   100.00              100.00   No MI                     NO MI                        0                                  12.5000            0.5000       0.0325    0.0000               0.5325
      2503214957   GAINESVILLE                                          20155    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     496,000.00                     496,000.00   First Lien                                      0           496,000.00                         0.00                      -          620,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503214985   NEWCASTLE                                            98056    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     536,000.00                     536,000.00   First Lien                                      0           536,000.00                         0.00                 670000              670000                    80.00               80.00   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      2503214990   DANBURY                                              06811    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     437,600.00                     437,600.00   First Lien                                      0           437,600.00                         0.00                      -          547,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.290             0.375       0.0325     0.000               0.4075
      2503215006   LAS VEGAS                                            89109    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          600,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.740             0.375       0.0325     0.000               0.4075
      2503215030   MIAMI                                                33143    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          370,000.00                    64.87               64.87   No MI                     NO MI                        0                                    6.275             0.375       0.0325     0.000               0.4075
      2503215038   DELRAY BEACH                                         33444    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     252,700.00                     252,659.92   First Lien                                      0           252,700.00                         0.00                 266000              270000                    95.00               95.00   PMI                       LPMI                        30                                   9.9900            0.3750       0.0325    2.1300               2.5375
      2503215068   MIAMI                                                33182    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           280,000.00                         0.00                      -          464,000.00                    60.35               60.35   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      2503215086   LOS ANGELES                                          90011    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     320,000.00                     320,000.00   First Lien                                      0           320,000.00                         0.00                      -          540,000.00                    59.26               59.26   No MI                     NO MI                        0                                    6.365             0.375       0.0325     0.000               0.4075
      2503215090   MORTON GROVE                                         60053    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     688,000.00                     688,000.00   First Lien                                      0           860,000.00                   172,000.00                 860000              865000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503215099   LOS ANGELES                                          90003    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     394,000.00                     394,000.00   First Lien                                      0           394,000.00                         0.00                      -          510,000.00                    77.26               77.26   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503215142   SAN DIEGO                                            92101    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     376,000.00                     376,000.00   First Lien                                      0           470,000.00                    94,000.00                 470000              510000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503215171   FULLERTON                                            92832    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     396,000.00                     396,000.00   First Lien                                      0           396,000.00                         0.00                      -          675,000.00                    58.67               58.67   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503215177   SAN JOSE                                             95110    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     475,000.00                     475,000.00   First Lien                                      0           475,000.00                         0.00                      -          685,000.00                    69.35               69.35   No MI                     NO MI                        0                                    5.950             0.250       0.0325     0.000               0.2825
      2503215189   LANCASTER                                            93535    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     316,000.00                     316,000.00   First Lien                                      0           351,000.00                    35,000.00                      -          395,000.00                    80.00               88.87   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503215190   ROUND ROCK                                           78664    TX                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      93,639.00                      93,639.00   First Lien                                      0            93,639.00                         0.00                 104044              113000                    90.00               90.00   PMI                       LPMI                        25                                   8.4300            0.3750       0.0325    0.7700               1.1775
      2503215197   PAAUHAU                                              96775    HI                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     383,200.00                     383,200.00   First Lien                                      0           383,200.00                         0.00                      -          479,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      2503215211   SAN CLEMENTE                                         92673    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     669,000.00                     669,000.00   First Lien                                      0           669,000.00                         0.00                      -        3,200,000.00                    20.91               20.91   No MI                     NO MI                        0                                    6.280             0.250       0.0325     0.000               0.2825
      2503215220   CHICAGO                                              60660    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     142,000.00                     142,000.00   First Lien                                      0           142,000.00                         0.00                      -          178,000.00                    79.78               79.78   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      2503215257   SAN BERNARDINO                                       92411    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     273,000.00                     273,000.00   First Lien                                      0           273,000.00                         0.00                      -          390,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503215347   WEST CHICAGO                                         60185    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     391,000.00                     391,000.00   First Lien                                      0           391,000.00                         0.00                      -          490,000.00                    79.80               79.80   No MI                     NO MI                        0                                    7.875             0.375       0.0325     0.000               0.4075
      2503215349   RANDALLSTOWN                                         21133    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     640,000.00                     640,000.00   First Lien                                      0           640,000.00                         0.00                      -          800,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503215367   MIAMI                                                33126    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     252,000.00                     252,000.00   First Lien                                      0           252,000.00                         0.00                 315000              330000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      2503215376   LOS ANGELES (CANOGA PARK                             91306    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          675,000.00                    62.23               62.23   No MI                     NO MI                        0                                    6.100             0.375       0.0325     0.000               0.4075
      2503215379   BELLEVUE                                             98004    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,890,000.00                   1,890,000.00   First Lien                                      0         1,890,000.00                         0.00                2700000             2700000                    70.00               70.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      2503215389   MIAMI                                                33145    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           560,000.00                   140,000.00                 560000              560000                    75.00              100.00   No MI                     NO MI                        0                                   6.3170            0.3750       0.0325    0.0000               0.4075
      2503215407   PORTSMOUTH                                           23704    VA                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      21,315.00                      21,309.69   Second Lien                                106575           127,890.00                         0.00                      -          142,100.00                    90.00               90.00   No MI                     NO MI                        0                                   12.625             0.500       0.0325     0.000               0.5325
      2503215423   LOS ANGELES (SHERMAN OAKS                            91403    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          560,000.00                    53.58               53.58   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503215437   WALNUT CREEK                                         94596    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     466,000.00                     466,000.00   First Lien                                      0           466,000.00                         0.00                      -          845,000.00                    55.15               55.15   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503215458   HOLLISTER                                            95023    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           528,729.00                   136,729.00                      -          565,000.00                    69.39               93.59   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503215501   DEL MAR                                              92014    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                   1,225,000.00                   1,225,000.00   First Lien                                      0         1,225,000.00                         0.00                      -        1,775,000.00                    69.02               69.02   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503215524   AREA OF GRASS VALLEY                                 95949    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     281,900.00                     281,900.00   First Lien                                      0           281,900.00                         0.00                      -          470,000.00                    59.98               59.98   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503215531   SARASOTA                                             34232    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     142,500.00                     142,500.00   First Lien                                      0           202,500.00                    60,000.00                      -          230,000.00                    61.96               88.05   No MI                     NO MI                        0                                    6.770             0.375       0.0325     0.000               0.4075
      2503215574   LAS VEGAS                                            89109    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     388,500.00                     388,500.00   First Lien                                      0           388,500.00                         0.00                      -          555,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.740             0.375       0.0325     0.000               0.4075
      2503215575   SANTA ANA                                            92707    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     188,000.00                     188,000.00   First Lien                                      0           188,000.00                         0.00                      -          385,000.00                    48.84               48.84   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503215578   SANTA ANA                                            92706    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     325,000.00                     325,000.00   First Lien                                      0           325,000.00                         0.00                      -          500,000.00                    65.00               65.00   No MI                     NO MI                        0                                    6.540             0.375       0.0325     0.000               0.4075
      2503215579   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     535,000.00                     535,000.00   First Lien                                      0           535,000.00                         0.00                      -          585,000.00                    91.46               91.46   PMI                       LPMI                        30                                    7.250             0.375       0.0325     1.010               1.4175
      2503215590   CORONA                                               92883    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     603,000.00                     603,000.00   First Lien                                      0           734,269.00                   131,269.00                      -          845,000.00                    71.37               86.90   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503215603   SANTA ANA                                            92705    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     625,000.00                     625,000.00   First Lien                                      0           625,000.00                         0.00                      -          905,000.00                    69.07               69.07   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      2503215605   SAN CLEMENTE                                         92672    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,100,000.00                    68.19               68.19   No MI                     NO MI                        0                                    6.600             0.375       0.0325     0.000               0.4075
      2503215609   CULVER CITY                                          90066    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     680,000.00                     680,000.00   First Lien                                      0           807,500.00                   127,500.00                 850000              854000                    80.00               95.00   No MI                     NO MI                        0                                   5.9900            0.3750       0.0325    0.0000               0.4075
      2503215610   WHITTIER AREA                                        90604    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     452,000.00                     452,000.00   First Lien                                      0           507,000.00                    55,000.00                      -          565,000.00                    80.00               89.74   No MI                     NO MI                        0                                    6.190             0.375       0.0325     0.000               0.4075
      2503215646   SAN DIEGO                                            92127    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     875,000.00                     875,000.00   First Lien                                      0           875,000.00                         0.00                1465000             1250000                    70.00               70.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503215647   OCEANSIDE                                            92056    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     448,000.00                     448,000.00   First Lien                                      0           560,000.00                   112,000.00                      -          560,000.00                    80.00              100.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503215670   LOS ANGELES                                          90044    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     329,600.00                     329,600.00   First Lien                                      0           329,600.00                         0.00                      -          412,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.980             0.375       0.0325     0.000               0.4075
      2503215681   PEEKSKILL                                            10566    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     463,600.00                     463,600.00   First Lien                                      0           463,600.00                         0.00                 488000              488000                    95.00               95.00   PMI                       LPMI                        30                                  10.9900            0.3750       0.0325    1.5500               1.9575
      2503215702   UPPER MARLBORO                                       20774    MD                             20070401                 20220401   FIXED                   Yes                                             180                    360                          179                      80,000.00                      79,983.67   Second Lien                                300000           380,000.00                         0.00                      -          400,000.00                    95.00               95.00   No MI                     NO MI                        0                                   13.500             0.500       0.0325     0.000               0.5325
      2503215704   LOS ANGELES                                          91605    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     517,000.00                     517,000.00   First Lien                                      0           517,000.00                         0.00                      -          665,000.00                    77.75               77.75   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503215717   JAMAICA                                              11435    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     568,000.00                     568,000.00   First Lien                                      0           568,000.00                         0.00                 720000              710000                    80.00               80.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      2503215728   MIRAMAR                                              33025    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     130,000.00                     130,000.00   First Lien                                      0           150,000.00                    20,000.00                      -          175,000.00                    74.29               85.72   No MI                     NO MI                        0                                    6.400             0.375       0.0325     0.000               0.4075
      2503215741   LA PUENTE                                            91744    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     388,000.00                     388,000.00   First Lien                                      0           485,000.00                    97,000.00                      -          485,000.00                    80.00              100.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503215757   SUN VALLEY                                           91352    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     150,000.00                     150,000.00   First Lien                                      0           150,000.00                         0.00                      -          625,000.00                    24.00               24.00   No MI                     NO MI                        0                                    5.990             0.250       0.0325     0.000               0.2825
      2503215800   CORONA                                               92880    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     504,000.00                     504,000.00   First Lien                                      0           504,000.00                         0.00                      -          631,000.00                    79.88               79.88   No MI                     NO MI                        0                                    6.150             0.250       0.0325     0.000               0.2825
      2503215823   GRAND JUNCTION                                       81506    CO                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     196,250.00                     196,250.00   First Lien                                      0           196,250.00                         0.00                      -          248,000.00                    79.14               79.14   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503215860   BOCA RATON                                           33433    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     194,750.00                     194,750.00   First Lien                                      0           194,750.00                         0.00                 205000              210000                    95.00               95.00   PMI                       BPMI                        30                                   7.9200            0.3750       0.0325    0.0000               0.4075
      2503215875   NAPLES                                               34109    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          320,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.525             0.375       0.0325     0.790               1.1975
      2503215878   NEW HAVEN                                            06511    CT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     216,000.00                     216,000.00   First Lien                                      0           216,000.00                         0.00                      -          288,000.00                    75.00               75.00   No MI                     NO MI                        0                                    9.990             0.375       0.0325     0.000               0.4075
      2503215932   HIALEAH                                              33016    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     176,250.00                     176,250.00   First Lien                                      0           235,000.00                    58,750.00                 235000              235000                    75.00              100.00   No MI                     NO MI                        0                                   6.3650            0.3750       0.0325    0.0000               0.4075
      2503215971   LAKELAND                                             33813    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     201,600.00                     201,600.00   First Lien                                      0           201,600.00                         0.00                      -          224,000.00                    90.00               90.00   PMI                       LPMI                        25                                   11.025             0.375       0.0325     0.770               1.1775
      2503215974   BREA                                                 92823    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     622,975.00                     622,975.00   First Lien                                      0           622,975.00                         0.00                      -          890,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.300             0.250       0.0325     0.000               0.2825
      2503215977   LAYTON                                               84041    UT                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     151,125.00                     151,125.00   First Lien                                      0           151,125.00                         0.00                 201500              202000                    75.00               75.00   No MI                     NO MI                        0                                   6.2500            0.2500       0.0325    0.0000               0.2825
      2503215990   SAINT PETERSBURG                                     33710    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     205,000.00                     205,000.00   First Lien                                      0           205,000.00                         0.00                      -          260,000.00                    78.85               78.85   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503215996   SANTA ANA                                            92707    CA                             20070601                 20370401   FIXED                   Yes                                             360                    480                          360                     340,000.00                     340,000.00   First Lien                                      0           340,000.00                         0.00                      -          400,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.950             0.250       0.0325     0.890               1.1725
      2503215999   LOS ANGELES                                          90027    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           720,000.00                   120,000.00                 800000              820000                    75.00               90.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      2503216015   SAN BERNARDINO                                       92410    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     356,000.00                     356,000.00   First Lien                                      0           356,000.00                         0.00                      -          445,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.375             0.250       0.0325     0.000               0.2825
      2503216016   NORWALK                                              90650    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           440,000.00                         0.00                      -          551,000.00                    79.86               79.86   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503216018   HIALEAH                                              33012    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     114,750.00                     114,750.00   First Lien                                      0           137,700.00                    22,950.00                      -          153,000.00                    75.00               90.00   No MI                     NO MI                        0                                    6.520             0.375       0.0325     0.000               0.4075
      2503216019   SACRAMENTO                                           95822    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     169,875.00                     169,875.00   First Lien                                      0           203,850.00                    33,975.00                 226500              250000                    75.00               90.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      2503216076   LOS ANGELES                                          91345    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     322,000.00                     322,000.00   First Lien                                      0           322,000.00                         0.00                      -          529,000.00                    60.87               60.87   No MI                     NO MI                        0                                    5.875             0.250       0.0325     0.000               0.2825
      2503216088   ROCKLIN                                              95677    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     295,000.00                     295,000.00   First Lien                                      0           295,000.00                         0.00                      -          601,000.00                    49.09               49.09   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503216103   KEAAU                                                96749    HI                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     135,000.00                     135,000.00   First Lien                                      0           135,000.00                         0.00                      -          311,000.00                    43.41               43.41   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      2503216116   GLENDALE                                             85303    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     289,750.00                     289,750.00   First Lien                                      0           289,750.00                         0.00                      -          305,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.725             0.375       0.0325     0.770               1.1775
      2503216118   SOUTHFIELD                                           48075    MI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     106,550.00                     106,550.00   First Lien                                      0           106,550.00                         0.00                 133205              140000                    79.99               79.99   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      2503216127   BARSTOW                                              92311    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     218,500.00                     218,500.00   First Lien                                      0           218,500.00                         0.00                      -          230,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.990             0.375       0.0325     1.330               1.7375
      2503216135   SOUTHFIELD                                           48075    MI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     106,550.00                     106,550.00   First Lien                                      0           106,550.00                         0.00                 133205              140000                    79.99               79.99   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      2503216144   MURRIETA                                             92562    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     257,000.00                     257,000.00   First Lien                                      0           257,000.00                         0.00                      -          370,000.00                    69.46               69.46   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503216151   ELK GROVE                                            95757    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     465,500.00                     465,500.00   First Lien                                      0           465,500.00                         0.00                      -          490,000.00                    95.00               95.00   PMI                       LPMI                        30                                    9.700             0.375       0.0325     0.730               1.1375
      2503216153   CLOVIS                                               93611    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     145,000.00                     145,000.00   First Lien                                      0           145,000.00                         0.00                 295000              310000                    49.16               49.16   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      2503216174   SALINAS                                              93905    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          475,000.00                    69.48               69.48   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503216186   MURRIETA                                             92563    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     432,000.00                     432,000.00   First Lien                                      0           540,000.00                   108,000.00                 540000              595000                    80.00              100.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503216189   WATSONVILLE                                          95076    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     344,000.00                     344,000.00   First Lien                                      0           344,000.00                         0.00                      -          940,000.00                    36.60               36.60   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503216225   MARGATE                                              33068    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     159,600.00                     159,600.00   First Lien                                      0           193,375.00                    33,775.00                      -          228,000.00                    70.00               84.82   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503216230   VISALIA                                              93277    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     208,000.00                     208,000.00   First Lien                                      0           208,000.00                         0.00                      -          260,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503216251   MANTECA                                              95336    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     243,750.00                     243,750.00   First Lien                                      0           292,500.00                    48,750.00                      -          325,000.00                    75.00               90.00   No MI                     NO MI                        0                                    5.900             0.375       0.0325     0.000               0.4075
      2503216276   FEDERAL WAY                                          98003    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     206,250.00                     206,250.00   First Lien                                      0           261,250.00                    55,000.00                 275000              275000                    75.00               95.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503216279   RIVERVIEW                                            33569    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     242,000.00                     242,000.00   First Lien                                      0           242,000.00                         0.00                      -          285,000.00                    84.92               84.92   PMI                       LPMI                        22                                    6.550             0.250       0.0325     0.390               0.6725
      2503216287   YPSILANTI                                            48197    MI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     131,000.00                     131,000.00   First Lien                                      0           131,000.00                         0.00                      -          218,000.00                    60.10               60.10   No MI                     NO MI                        0                                    6.050             0.375       0.0325     0.000               0.4075
      2503216313   CAPTAIN COOK                                         96704    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     740,000.00                     740,000.00   First Lien                                      0           832,500.00                    92,500.00                 925000              925000                    80.00               90.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      2503216353   LOS ANGELES                                          90036    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,700,000.00                    44.12               44.12   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503216367   ALHAMBRA                                             91801    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     476,000.00                     476,000.00   First Lien                                      0           501,000.00                    25,000.00                 595000              610000                    80.00               84.21   No MI                     NO MI                        0                                   5.6300            0.3750       0.0325    0.0000               0.4075
      2503216388   PACOIMA                                              91331    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     335,000.00                     335,000.00   First Lien                                      0           335,000.00                         0.00                      -          505,000.00                    66.34               66.34   No MI                     NO MI                        0                                    6.200             0.375       0.0325     0.000               0.4075
      2503216397   WAIPAHU                                              96797    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     552,000.00                     552,000.00   First Lien                                      0           690,000.00                   138,000.00                      -          690,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503216413   WAIPAHU                                              96797    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           495,000.00                    55,000.00                 550000              550000                    80.00               90.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      2503216419   LAS VEGAS                                            89101    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     186,000.00                     186,000.00   First Lien                                      0           186,000.00                         0.00                      -          248,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.425             0.375       0.0325     0.000               0.4075
      2503216452   FREDERICKSBURG                                       22405    VA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           220,000.00                         0.00                      -          295,000.00                    74.58               74.58   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503216476   SKOKIE                                               60076    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     150,000.00                     150,000.00   First Lien                                      0           150,000.00                         0.00                      -          252,000.00                    59.53               59.53   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503216506   STOCKTON                                             95212    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     257,000.00                     257,000.00   First Lien                                      0           257,000.00                         0.00                      -          395,000.00                    65.07               65.07   No MI                     NO MI                        0                                    5.815             0.375       0.0325     0.000               0.4075
      2503216508   PORT HUENEME                                         93041    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     230,000.00                     230,000.00   First Lien                                      0           230,000.00                         0.00                      -          302,000.00                    76.16               76.16   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503216540   LA PUENTE                                            91744    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     242,000.00                     242,000.00   First Lien                                      0           242,000.00                         0.00                      -          420,000.00                    57.62               57.62   No MI                     NO MI                        0                                    6.280             0.250       0.0325     0.000               0.2825
      2503216543   OAK HILLS                                            92344    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     590,250.00                     590,250.00   First Lien                                      0           708,300.00                   118,050.00                      -          787,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.330             0.375       0.0325     0.000               0.4075
      2503216567   SIMI VALLEY                                          93065    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     278,000.00                     278,000.00   First Lien                                      0           278,000.00                         0.00                      -          503,000.00                    55.27               55.27   No MI                     NO MI                        0                                    6.100             0.375       0.0325     0.000               0.4075
      2503216569   LAKEWOOD                                             80232    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     206,200.00                     206,200.00   First Lien                                      0           206,200.00                         0.00                      -          275,000.00                    74.99               74.99   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503216571   HOMESTEAD                                            33032    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           280,000.00                    70,000.00                 280000              280000                    75.00              100.00   No MI                     NO MI                        0                                   6.5250            0.3750       0.0325    0.0000               0.4075
      2503216623   PORTLAND                                             97217    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     301,750.00                     301,750.00   First Lien                                      0           301,750.00                         0.00                      -          355,000.00                    85.00               85.00   PMI                       LPMI                        22                                    5.875             0.375       0.0325     0.440               0.8475
      2503216625   SANTA ROSA                                           95409    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -        1,000,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503216651   GIG HARBOR                                           98335    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     481,950.00                     481,950.00   First Lien                                      0           481,950.00                         0.00                      -          567,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.575             0.375       0.0325     0.700               1.1075
      2503216655   WATSONVILLE                                          95076    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     703,000.00                     703,000.00   First Lien                                      0           703,000.00                         0.00                      -          950,000.00                    74.00               74.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503216705   SAN JOSE                                             95121    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     375,000.00                     375,000.00   First Lien                                      0           375,000.00                         0.00                      -          705,000.00                    53.20               53.20   No MI                     NO MI                        0                                    5.800             0.375       0.0325     0.000               0.4075
      2503216721   MORENO VALLEY                                        92553    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     358,500.00                     358,500.00   First Lien                                      0           358,500.00                         0.00                      -          385,000.00                    93.12               93.12   PMI                       LPMI                        30                                    6.475             0.375       0.0325     0.780               1.1875
      2503216724   DORAL                                                33178    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     286,900.00                     286,900.00   First Lien                                      0           286,900.00                         0.00                      -          390,000.00                    73.57               73.57   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503216725   MIAMI                                                33182    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     258,500.00                     258,500.00   First Lien                                      0           258,500.00                         0.00                      -          445,000.00                    58.09               58.09   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503216746   DENVER                                               80205    CO                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,250.00                     185,250.00   First Lien                                      0           185,250.00                         0.00                      -          195,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.575             0.375       0.0325     0.880               1.2875
      2503216748   LAS VEGAS                                            89107    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     174,400.00                     174,400.00   First Lien                                      0           174,400.00                         0.00                      -          218,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.030             0.375       0.0325     0.000               0.4075
      2503216756   SAN JOSE                                             95148    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     475,000.00                     475,000.00   First Lien                                      0           475,000.00                         0.00                      -          625,000.00                    76.00               76.00   No MI                     NO MI                        0                                    6.525             0.375       0.0325     0.000               0.4075
      2503216764   COSTA MESA                                           92627    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     885,000.00                     885,000.00   First Lien                                      0           885,000.00                         0.00                      -        1,180,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503216796   KAILUA-KONA                                          96740    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     486,000.00                     486,000.00   First Lien                                      0           486,000.00                         0.00                      -          540,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.990             0.375       0.0325     0.970               1.3775
      2503216804   HOLLYWOOD                                            33021    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     143,900.00                     143,900.00   First Lien                                      0           143,900.00                         0.00                 179900              180000                    79.99               79.99   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      2503216819   MARYSVILLE                                           95901    CA                             20070501                 20220401   FIXED                   No                                              180                    180                          180                     213,300.00                     213,300.00   First Lien                                      0           213,300.00                         0.00                      -          237,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.450             0.250       0.0325     0.670               0.9525
      2503216842   NEW HOPE                                             18938    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           392,000.00                         0.00                      -          560,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503216857   LA QUINTA                                            92253    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     481,500.00                     481,500.00   First Lien                                      0           481,500.00                         0.00                      -          535,000.00                    90.00               90.00   PMI                       LPMI                        25                                    6.750             0.375       0.0325     0.790               1.1975
      2503216885   BOTHELL                                              98021    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     459,200.00                     459,200.00   First Lien                                      0           459,200.00                         0.00                 574000              585000                    80.00               80.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      2503216910   TURLOCK                                              95382    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     227,250.00                     227,250.00   First Lien                                      0           227,250.00                         0.00                      -          303,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503216919   CITRUS HEIGHTS                                       95621    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     247,500.00                     247,500.00   First Lien                                      0           280,500.00                    33,000.00                      -          330,000.00                    75.00               85.00   No MI                     NO MI                        0                                    5.900             0.375       0.0325     0.000               0.4075
      2503216923   AREA OF GRANADA HILLS                                91344    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     165,000.00                     165,000.00   First Lien                                      0           165,000.00                         0.00                      -          461,000.00                    35.80               35.80   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503216944   SANTA ANA                                            92707    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     520,000.00                     520,000.00   First Lien                                      0           650,000.00                   130,000.00                      -          650,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.400             0.375       0.0325     0.000               0.4075
      2503216973   PALMDALE                                             93550    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     188,000.00                     188,000.00   First Lien                                      0           188,000.00                         0.00                      -          350,000.00                    53.72               53.72   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503217085   SACRAMENTO                                           95822    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     196,000.00                     196,000.00   First Lien                                      0           196,000.00                         0.00                      -          280,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      2503217112   GARDEN GROVE                                         92841    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          700,000.00                    71.43               71.43   No MI                     NO MI                        0                                    5.600             0.375       0.0325     0.000               0.4075
      2503217164   CHANHASSEN                                           55317    MN                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     140,000.00                     140,000.00   First Lien                                      0           173,580.00                    33,580.00                      -          175,000.00                    80.00               99.19   No MI                     NO MI                        0                                    7.200             0.250       0.0325     0.000               0.2825
      2503217221   PACIFIC GROVE                                        93950    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     851,250.00                     851,250.00   First Lien                                      0         1,021,500.00                   170,250.00                      -        1,135,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503217257   CASTROVILLE                                          95012    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     441,000.00                     441,000.00   First Lien                                      0           441,000.00                         0.00                      -          630,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503217263   FRESNO                                               93727    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     227,500.00                     227,500.00   First Lien                                      0           227,500.00                         0.00                 242500              245000                    93.82               93.82   PMI                       LPMI                        30                                   6.6300            0.2500       0.0325    0.5400               0.8225
      2503217266   MIAMI                                                33165    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           320,000.00                    80,000.00                 320000              320000                    75.00              100.00   No MI                     NO MI                        0                                   6.4900            0.3750       0.0325    0.0000               0.4075
      2503217295   LOS ANGELES                                          90063    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     304,000.00                     304,000.00   First Lien                                      0           380,000.00                    76,000.00                 380000              380000                    80.00              100.00   No MI                     NO MI                        0                                   6.5500            0.3750       0.0325    0.0000               0.4075
      2503217306   ROSEMARY BEACH                                       32413    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     970,000.00                     970,000.00   First Lien                                      0           970,000.00                         0.00                      -        1,975,000.00                    49.12               49.12   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503217319   EWA BEACH                                            96706    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     336,000.00                     336,000.00   First Lien                                      0           420,000.00                    84,000.00                 420000              420000                    80.00              100.00   No MI                     NO MI                        0                                   6.3000            0.3750       0.0325    0.0000               0.4075
      2503217326   BROOKLYN                                             11208    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     499,500.00                     499,500.00   First Lien                                      0           499,500.00                         0.00                      -          555,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.250             0.375       0.0325     1.340               1.7475
      2503217347   ANAHEIM                                              92805    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          565,000.00                    44.25               44.25   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503217349   SCRANTON                                             18505    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     111,900.00                     111,900.00   First Lien                                      0           111,900.00                         0.00                 139900              145000                    79.99               79.99   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      2503217358   BOCA RATON                                           33431    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           417,000.00                         0.00                      -          950,000.00                    43.90               43.90   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503217360   CHICAGO                                              60611    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     133,000.00                     133,000.00   First Lien                                      0           133,000.00                         0.00                      -          190,000.00                    70.00               70.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503217361   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     161,900.00                     161,900.00   First Lien                                      0           161,900.00                         0.00                 179900              194000                    90.00               90.00   PMI                       LPMI                        25                                  10.9200            0.3750       0.0325    1.5400               1.9475
      2503217404   STAMFORD                                             06903    CT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     627,500.00                     627,500.00   First Lien                                      0           627,500.00                         0.00                      -          815,000.00                    77.00               77.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503217415   LAS VEGAS                                            89101    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     176,000.00                     176,000.00   First Lien                                      0           220,000.00                    44,000.00                 220000              223000                    80.00              100.00   No MI                     NO MI                        0                                   6.6750            0.3750       0.0325    0.0000               0.4075
      2503217431   BALDWIN PARK                                         91706    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     241,500.00                     241,500.00   First Lien                                      0           345,000.00                   103,500.00                 345000              350000                    70.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503217443   CHICO                                                95973    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     373,500.00                     373,500.00   First Lien                                      0           415,000.00                    41,500.00                 415000              420000                    90.00              100.00   PMI                       LPMI                        25                                   6.7500            0.3750       0.0325    0.7200               1.1275
      2503217470   LAS VEGAS                                            89102    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     218,400.00                     218,400.00   First Lien                                      0           218,400.00                         0.00                      -          273,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.450             0.375       0.0325     0.000               0.4075
      2503217487   JACKSONVILLE                                         32209    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     159,100.00                     159,100.00   First Lien                                      0           179,100.00                    20,000.00                 199000              220000                    79.95               90.00   No MI                     NO MI                        0                                   8.7500            0.3750       0.0325    0.0000               0.4075
      2503217506   BEND                                                 97707    OR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     210,000.00                     210,000.00   First Lien                                      0           253,000.00                    43,000.00                      -          300,000.00                    70.00               84.34   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503217515   RANCHO CUCAMONGA                                     91739    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     632,000.00                     632,000.00   First Lien                                      0           790,000.00                   158,000.00                 790000              790000                    80.00              100.00   No MI                     NO MI                        0                                   5.6250            0.3750       0.0325    0.0000               0.4075
      2503217527   ANTIOCH                                              94531    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     592,000.00                     592,000.00   First Lien                                      0           740,000.00                   148,000.00                 740000              740000                    80.00              100.00   No MI                     NO MI                        0                                   6.6950            0.3750       0.0325    0.0000               0.4075
      2503217556   LAMONT                                               93241    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     120,400.00                     120,400.00   First Lien                                      0           120,400.00                         0.00                      -          177,000.00                    68.03               68.03   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503217558   COMPTON AREA                                         90222    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     277,500.00                     277,500.00   First Lien                                      0           351,500.00                    74,000.00                 370000              370000                    75.00               95.00   No MI                     NO MI                        0                                   6.3630            0.3750       0.0325    0.0000               0.4075
      2503217562   LOS ANGELES                                          90059    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     312,000.00                     312,000.00   First Lien                                      0           312,000.00                         0.00                      -          500,000.00                    62.40               62.40   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503217578   LOS BANOS                                            93635    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     412,000.00                     412,000.00   First Lien                                      0           463,500.00                    51,500.00                      -          515,000.00                    80.00               90.00   No MI                     NO MI                        0                                    5.850             0.375       0.0325     0.000               0.4075
      2503217583   LA HABRA                                             90631    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     494,000.00                     494,000.00   First Lien                                      0           494,000.00                         0.00                      -          755,000.00                    65.44               65.44   No MI                     NO MI                        0                                    5.560             0.375       0.0325     0.000               0.4075
      2503217585   LOS ANGELES                                          90007    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           990,000.00                   240,000.00                      -        1,100,000.00                    68.19               90.00   No MI                     NO MI                        0                                    6.680             0.375       0.0325     0.000               0.4075
      2503217587   LOS ANGELES                                          90047    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     422,100.00                     422,100.00   First Lien                                      0           422,100.00                         0.00                 469000              469000                    90.00               90.00   PMI                       LPMI                        25                                   6.9900            0.3750       0.0325    0.5700               0.9775
      2503217616   TAMARAC                                              33321    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     193,500.00                     193,500.00   First Lien                                      0           193,500.00                         0.00                      -          215,000.00                    90.00               90.00   PMI                       LPMI                        25                                   11.990             0.375       0.0325     1.640               2.0475
      2503217628   SAINT ALBANS                                         11412    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     448,000.00                     448,000.00   First Lien                                      0           448,000.00                         0.00                 560000              565000                    80.00               80.00   No MI                     NO MI                        0                                   7.3300            0.3750       0.0325    0.0000               0.4075
      2503217638   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     116,150.00                     116,150.00   First Lien                                      0           139,350.00                    23,200.00                 154900              156500                    74.99               89.97   No MI                     NO MI                        0                                   7.1350            0.3750       0.0325    0.0000               0.4075
      2503217655   HOLLYWOOD                                            33021    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     346,750.00                     346,750.00   First Lien                                      0           346,750.00                         0.00                      -          365,000.00                    95.00               95.00   PMI                       LPMI                        30                                    9.430             0.375       0.0325     0.880               1.2875
      2503217663   MORENO VALLEY                                        92555    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     410,000.00                     410,000.00   First Lien                                      0           410,000.00                         0.00                      -          460,000.00                    89.14               89.14   PMI                       LPMI                        25                                    7.440             0.375       0.0325     0.670               1.0775
      2503217692   MIAMI                                                33196    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     285,000.00                     285,000.00   First Lien                                      0           380,000.00                    95,000.00                 380000              380000                    75.00              100.00   No MI                     NO MI                        0                                   6.5250            0.3750       0.0325    0.0000               0.4075
      2503217702   CORONA                                               92882    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     275,000.00                     275,000.00   First Lien                                      0           275,000.00                         0.00                      -          468,000.00                    58.77               58.77   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      2503217724   MIAMI                                                33175    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     731,250.00                     731,250.00   First Lien                                      0           975,000.00                   243,750.00                 975000              975000                    75.00              100.00   No MI                     NO MI                        0                                   6.2400            0.3750       0.0325    0.0000               0.4075
      2503217748   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     194,900.00                     194,900.00   First Lien                                      0           233,850.00                    38,950.00                 259900              259900                    75.00               89.98   No MI                     NO MI                        0                                   7.0300            0.3750       0.0325    0.0000               0.4075
      2503217755   ELMHURST                                             11373    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     315,000.00                     315,000.00   First Lien                                      0           315,000.00                         0.00                      -          550,000.00                    57.28               57.28   No MI                     NO MI                        0                                    6.850             0.375       0.0325     0.000               0.4075
      2503217775   BRANDON                                              39047    MS                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     135,750.00                     135,750.00   First Lien                                      0           171,950.00                    36,200.00                 181000              181000                    75.00               95.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      2503217802   WEST HOLLYWOOD                                       90069    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     680,000.00                     680,000.00   First Lien                                      0           830,000.00                   150,000.00                      -          850,000.00                    80.00               97.65   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      2503217817   GILBERT                                              85296    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     448,000.00                     448,000.00   First Lien                                      0           560,000.00                   112,000.00                      -          560,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503217839   CHICAGO                                              60714    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     333,000.00                     333,000.00   First Lien                                      0           333,000.00                         0.00                      -          420,000.00                    79.29               79.29   No MI                     NO MI                        0                                    7.599             0.375       0.0325     0.000               0.4075
      2503217853   LA PALMA                                             90623    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     521,250.00                     521,250.00   First Lien                                      0           695,000.00                   173,750.00                 695000              705000                    75.00              100.00   No MI                     NO MI                        0                                   6.5250            0.3750       0.0325    0.0000               0.4075
      2503217881   COCONUT CREEK                                        33066    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           225,000.00                    25,000.00                      -          250,000.00                    80.00               90.00   No MI                     NO MI                        0                                    6.600             0.375       0.0325     0.000               0.4075
      2503217894   ANTIOCH                                              94531    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     343,300.00                     343,300.00   First Lien                                      0           429,125.00                    85,825.00                 429125              460000                    80.00              100.00   No MI                     NO MI                        0                                   6.4500            0.3750       0.0325    0.0000               0.4075
      2503217955   SAN JOSE                                             95122    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     313,600.00                     313,600.00   First Lien                                      0           372,400.00                    58,800.00                      -          392,000.00                    80.00               95.00   No MI                     NO MI                        0                                    6.800             0.375       0.0325     0.000               0.4075
      2503217979   BRENTWOOD                                            11717    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     373,100.00                     373,100.00   First Lien                                      0           466,380.00                    93,280.00                 466400              467000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      2503218041   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     483,960.00                     483,960.00   First Lien                                      0           604,950.00                   120,990.00                 604950              610000                    80.00              100.00   No MI                     NO MI                        0                                   5.7500            0.3750       0.0325    0.0000               0.4075
      2503218099   CHICAGO                                              60611    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     151,500.00                     151,500.00   First Lien                                      0           151,500.00                         0.00                      -          220,000.00                    68.87               68.87   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503218101   SANTA MARIA                                          93455    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     474,000.00                     474,000.00   First Lien                                      0           474,000.00                         0.00                      -          550,000.00                    86.19               86.19   PMI                       LPMI                        25                                    6.750             0.250       0.0325     0.610               0.8925
      2503218107   LOS ANGELES                                          90063    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     378,000.00                     378,000.00   First Lien                                      0           513,000.00                   135,000.00                 540000              540000                    70.00               95.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      2503218154   DEERFIELD BEACH                                      33064    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                      -          250,000.00                    50.00               50.00   No MI                     NO MI                        0                                    6.950             0.250       0.0325     0.000               0.2825
      2503218214   HOMESTEAD                                            33033    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     279,000.00                     279,000.00   First Lien                                      0           279,000.00                         0.00                 310000              310000                    90.00               90.00   PMI                       LPMI                        25                                   8.7900            0.3750       0.0325    1.1400               1.5475
      2503218232   BURBANK                                              91501    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     520,000.00                     520,000.00   First Lien                                      0           650,000.00                   130,000.00                 650000              660000                    80.00              100.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      2503218287   TURLOCK                                              95382    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     281,000.00                     281,000.00   First Lien                                      0           281,000.00                         0.00                      -          375,000.00                    74.94               74.94   No MI                     NO MI                        0                                    6.238             0.375       0.0325     0.000               0.4075
      2503218313   LOS ANGELES                                          90068    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     715,000.00                     715,000.00   First Lien                                      0           915,000.00                   200,000.00                      -        1,145,000.00                    62.45               79.92   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503218341   LAS VEGAS                                            89123    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     144,000.00                     144,000.00   First Lien                                      0           144,000.00                         0.00                 180000              185000                    80.00               80.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      2503218361   LOS ANGELES                                          90002    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           280,000.00                         0.00                      -          350,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      2503218363   SPRINGFIELD                                          22153    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     307,500.00                     307,500.00   First Lien                                      0           307,500.00                         0.00                      -          410,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503218378   BELLEVUE                                             98006    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          850,000.00                    58.83               58.83   No MI                     NO MI                        0                                    5.550             0.375       0.0325     0.000               0.4075
      2503218381   TAFT                                                 93268    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     186,000.00                     186,000.00   First Lien                                      0           186,000.00                         0.00                      -          235,000.00                    79.15               79.15   No MI                     NO MI                        0                                    8.088             0.375       0.0325     0.000               0.4075
      2503218384   BEAR                                                 19701    DE                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     252,000.00                     252,000.00   First Lien                                      0           252,000.00                         0.00                      -          315,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.620             0.375       0.0325     0.000               0.4075
      2503218401   LAS VEGAS                                            89101    NV                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     214,400.00                     214,400.00   First Lien                                      0           214,400.00                         0.00                      -          268,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.381             0.250       0.0325     0.000               0.2825
      2503218406   GARDENA                                              90247    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     516,000.00                     516,000.00   First Lien                                      0           516,000.00                         0.00                      -          650,000.00                    79.39               79.39   No MI                     NO MI                        0                                    6.800             0.250       0.0325     0.000               0.2825
      2503218427   BRONX                                                10466    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     342,000.00                     342,000.00   First Lien                                      0           342,000.00                         0.00                 360000              360000                    95.00               95.00   PMI                       BPMI                        30                                   8.5000            0.3750       0.0325    0.0000               0.4075
      2503218453   LANCASTER                                            93535    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     283,500.00                     283,500.00   First Lien                                      0           283,500.00                         0.00                      -          315,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.700             0.375       0.0325     1.140               1.5475
      2503218457   SEATTLE                                              98103    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     307,000.00                     307,000.00   First Lien                                      0           307,000.00                         0.00                      -          410,000.00                    74.88               74.88   No MI                     NO MI                        0                                    6.733             0.375       0.0325     0.000               0.4075
      2503218479   HALLANDALE                                           33009    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     413,250.00                     413,250.00   First Lien                                      0           413,250.00                         0.00                 435000              435000                    95.00               95.00   PMI                       LPMI                        30                                   8.9800            0.3750       0.0325    1.6600               2.0675
      2503218501   (TUJUNGA AREA) LOS ANGELE                            91042    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     585,000.00                     585,000.00   First Lien                                      0           585,000.00                         0.00                      -        1,100,000.00                    53.19               53.19   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503218507   VALRICO                                              33594    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     189,000.00                     189,000.00   First Lien                                      0           189,000.00                         0.00                 210000              210000                    90.00               90.00   PMI                       LPMI                        25                                   9.8400            0.3750       0.0325    0.7700               1.1775
      2503218525   INGLEWOOD                                            90303    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     496,000.00                     496,000.00   First Lien                                      0           496,000.00                         0.00                      -          620,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503218562   TALLAHASSEE                                          32304    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      99,250.00                      99,250.00   First Lien                                      0           119,250.00                    20,000.00                 132500              137500                    74.91               90.00   No MI                     NO MI                        0                                   6.4750            0.3750       0.0325    0.0000               0.4075
      2503218567   WATSONVILLE                                          95076    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     544,000.00                     544,000.00   First Lien                                      0           544,000.00                         0.00                      -          680,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503218569   MIAMI                                                33145    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     405,500.00                     405,500.00   First Lien                                      0           405,500.00                         0.00                      -          525,000.00                    77.24               77.24   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      2503218589   MIRA LOMA                                            91752    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           540,000.00                    60,000.00                      -          605,000.00                    79.34               89.26   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503218603   LOS ANGELES                                          90003    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           460,000.00                         0.00                      -          575,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503218619   JUPITER                                              33458    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     123,200.00                     123,200.00   First Lien                                      0           123,200.00                         0.00                      -          154,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      2503218632   REDWOOD CITY                                         94061    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     689,000.00                     689,000.00   First Lien                                      0           786,000.00                    97,000.00                      -        1,063,000.00                    64.82               73.95   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503218639   SAN FERNANDO                                         91340    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     477,500.00                     477,500.00   First Lien                                      0           477,500.00                         0.00                      -          650,000.00                    73.47               73.47   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503218640   SAN JOSE                                             95123    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     253,500.00                     253,500.00   First Lien                                      0           253,500.00                         0.00                      -          372,000.00                    68.15               68.15   No MI                     NO MI                        0                                    5.650             0.375       0.0325     0.000               0.4075
      2503218647   TORRINGTON                                           06790    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     178,500.00                     178,500.00   First Lien                                      0           178,500.00                         0.00                      -          230,000.00                    77.61               77.61   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503218653   BIG BEAR CITY                                        92314    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     310,500.00                     310,500.00   First Lien                                      0           310,500.00                         0.00                      -          345,000.00                    90.00               90.00   PMI                       LPMI                        25                                   11.720             0.375       0.0325     1.440               1.8475
      2503218665   WANTAGE                                              07461    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,900.00                     270,900.00   First Lien                                      0           270,900.00                         0.00                      -          301,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.700             0.375       0.0325     1.710               2.1175
      2503218742   LAKE WALES                                           33859    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           417,000.00                         0.00                      -          630,000.00                    66.20               66.20   No MI                     NO MI                        0                                    6.444             0.375       0.0325     0.000               0.4075
      2503218759   BAKERSFIELD AREA                                     93305    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     202,500.00                     202,500.00   First Lien                                      0           202,500.00                         0.00                      -          270,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503218765   BEAUMONT                                             92223    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                      -          360,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503218771   STOCKTON                                             95206    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           575,000.00                   115,000.00                 575000              575000                    80.00              100.00   No MI                     NO MI                        0                                   7.6350            0.3750       0.0325    0.0000               0.4075
      2503218776   CAMERON PARK                                         95682    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     305,000.00                     305,000.00   First Lien                                      0           305,000.00                         0.00                      -          385,000.00                    79.23               79.23   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      2503218814   TULARE                                               93274    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     144,000.00                     144,000.00   First Lien                                      0           144,000.00                         0.00                      -          180,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503218824   LONG BEACH                                           90802    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                 515000              515000                    38.84               38.84   No MI                     NO MI                        0                                   6.1400            0.2500       0.0325    0.0000               0.2825
      2503218837   MIDDLE VILLAGE                                       11379    NY                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     150,000.00                     150,000.00   First Lien                                      0           150,000.00                         0.00                 505000              525000                    29.71               29.71   No MI                     NO MI                        0                                   6.9900            0.2500       0.0325    0.0000               0.2825
      2503218889   RANCHO SANTA MARGARITA                               92688    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     516,000.00                     516,000.00   First Lien                                      0           618,591.00                   102,591.00                      -          645,000.00                    80.00               95.91   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      2503218898   MILPITAS                                             95035    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     295,000.00                     295,000.00   First Lien                                      0           295,000.00                         0.00                      -          640,000.00                    46.10               46.10   No MI                     NO MI                        0                                    5.825             0.375       0.0325     0.000               0.4075
      2503218911   SACRAMENTO                                           95823    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     256,000.00                     256,000.00   First Lien                                      0           306,000.00                    50,000.00                      -          325,000.00                    78.77               94.16   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503218923   BROOKLYN                                             11236    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     457,920.00                     457,920.00   First Lien                                      0           572,400.00                   114,480.00                 572400              585000                    80.00              100.00   No MI                     NO MI                        0                                   7.0400            0.3750       0.0325    0.0000               0.4075
      2503218940   TAMPA                                                33634    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          200,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503218963   EWA BEACH                                            96706    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     291,000.00                     291,000.00   First Lien                                      0           291,000.00                         0.00                      -          418,000.00                    69.62               69.62   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503218969   RIVERSIDE                                            92503    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          725,000.00                    68.97               68.97   No MI                     NO MI                        0                                    6.450             0.375       0.0325     0.000               0.4075
      2503218970   AZUSA                                                91702    CA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     456,000.00                     456,000.00   First Lien                                      0           456,000.00                         0.00                      -          480,000.00                    95.00               95.00   PMI                       LPMI                        30                                    6.999             0.375       0.0325     0.890               1.2975
      2503218980   BIG BEAR CITY AREA                                   92314    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     156,100.00                     156,100.00   First Lien                                      0           156,100.00                         0.00                      -          223,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.995             0.375       0.0325     0.000               0.4075
      2503219012   HANFORD                                              93230    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     192,000.00                     192,000.00   First Lien                                      0           192,000.00                         0.00                      -          240,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503219017   HANFORD                                              93230    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     192,000.00                     192,000.00   First Lien                                      0           192,000.00                         0.00                      -          240,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      2503219020   MESA                                                 85210    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     164,000.00                     164,000.00   First Lien                                      0           164,000.00                         0.00                      -          205,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      2503219037   REDMOND                                              98053    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     451,000.00                     451,000.00   First Lien                                      0           451,000.00                         0.00                      -        1,000,000.00                    45.10               45.10   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      2503219081   JACKSONVILLE                                         32225    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     172,800.00                     172,800.00   First Lien                                      0           172,800.00                         0.00                 216000              216000                    80.00               80.00   No MI                     NO MI                        0                                   5.9900            0.3750       0.0325    0.0000               0.4075
      2503219085   POMONA                                               91767    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     442,500.00                     442,500.00   First Lien                                      0           530,500.00                    88,000.00                      -          590,000.00                    75.00               89.92   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503219091   FORT LAUDERDALE                                      33311    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     170,000.00                     170,000.00   First Lien                                      0           170,000.00                         0.00                      -          355,000.00                    47.89               47.89   No MI                     NO MI                        0                                    7.375             0.250       0.0325     0.000               0.2825
      2503219116   CEDAR PINES PARK                                     92322    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      94,500.00                      94,500.00   First Lien                                      0            94,500.00                         0.00                 105000              155000                    90.00               90.00   PMI                       LPMI                        25                                  10.6250            0.3750       0.0325    1.0400               1.4475
      2503219122   LOS ANGELES                                          90039    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           720,000.00                   120,000.00                      -          800,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      2503219125   FULLERTON                                            92832    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     454,000.00                     454,000.00   First Lien                                      0           454,000.00                         0.00                      -          660,000.00                    68.79               68.79   No MI                     NO MI                        0                                    6.200             0.375       0.0325     0.000               0.4075
      2503219128   MORENO VALLEY                                        92553    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     205,000.00                     205,000.00   First Lien                                      0           205,000.00                         0.00                      -          400,000.00                    51.25               51.25   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503219135   RIVERSIDE                                            92504    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     214,400.00                     214,400.00   First Lien                                      0           214,400.00                         0.00                      -          390,000.00                    54.98               54.98   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      2503219163   NEW LENOX                                            60451    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     205,200.00                     205,200.00   First Lien                                      0           205,200.00                         0.00                 216000              235000                    95.00               95.00   PMI                       BPMI                        30                                   8.5000            0.3750       0.0325    0.0000               0.4075
      2503219166   PALM BAY                                             32907    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      70,000.00                      70,000.00   First Lien                                      0            70,000.00                         0.00                      -          228,000.00                    30.71               30.71   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503219270   ORLANDO                                              32839    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     135,900.00                     135,900.00   First Lien                                      0           135,900.00                         0.00                 169900              174300                    79.99               79.99   No MI                     NO MI                        0                                   8.3500            0.3750       0.0325    0.0000               0.4075
      2503219272   BALDWIN PARK                                         91706    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     495,000.00                     495,000.00   First Lien                                      0           495,000.00                         0.00                      -          550,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.250             0.375       0.0325     0.870               1.2775
      2503219294   BANNING                                              92220    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,500.00                     185,500.00   First Lien                                      0           185,500.00                         0.00                      -          265,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.350             0.375       0.0325     0.000               0.4075
      2503219297   OXNARD                                               93035    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     562,500.00                     562,500.00   First Lien                                      0           562,500.00                         0.00                      -          750,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503219299   LA MIRADA                                            90638    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     364,000.00                     364,000.00   First Lien                                      0           364,000.00                         0.00                      -          575,000.00                    63.31               63.31   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503219311   AREA OF UPLAND                                       91784    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     424,800.00                     424,800.00   First Lien                                      0           467,280.00                    42,480.00                      -          531,000.00                    80.00               88.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503219312   NORTH LAS VEGAS                                      89031    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     130,000.00                     130,000.00   First Lien                                      0           130,000.00                         0.00                      -          256,000.00                    50.79               50.79   No MI                     NO MI                        0                                    6.513             0.375       0.0325     0.000               0.4075
      2503219341   KAILUA KONA                                          96740    HI                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     517,650.00                     517,650.00   First Lien                                      0           517,650.00                         0.00                      -          609,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.875             0.250       0.0325     0.780               1.0625
      2503219349   WAIPAHU                                              96797    HI                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     455,000.00                     455,000.00   First Lien                                      0           455,000.00                         0.00                      -          775,000.00                    58.71               58.71   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503219364   BROOKLYN                                             11228    NY                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     533,000.00                     533,000.00   First Lien                                      0           533,000.00                         0.00                      -          765,000.00                    69.68               69.68   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503219375   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     193,850.00                     193,850.00   First Lien                                      0           232,600.00                    38,750.00                 258500              258500                    75.00               89.99   No MI                     NO MI                        0                                   7.2000            0.3750       0.0325    0.0000               0.4075
      2503219397   NAVARRE                                              32566    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     110,250.00                     110,250.00   First Lien                                      0           110,250.00                         0.00                      -          147,000.00                    75.00               75.00   No MI                     NO MI                        0                                    8.150             0.375       0.0325     0.000               0.4075
      2503219400   FREEDOM                                              95019    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     420,000.00                     420,000.00   First Lien                                      0           420,000.00                         0.00                      -          675,000.00                    62.23               62.23   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503219451   SANTA CLARITA                                        91354    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           720,000.00                   120,000.00                 800000              865000                    75.00               90.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      2503219464   PEPEEKEO                                             96783    HI                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     219,200.00                     219,200.00   First Lien                                      0           219,200.00                         0.00                      -          274,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.250       0.0325     0.000               0.2825
      2503219468   SANFORD                                              32771    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     260,250.00                     260,250.00   First Lien                                      0           312,300.00                    52,050.00                      -          347,000.00                    75.00               90.00   No MI                     NO MI                        0                                    7.430             0.250       0.0325     0.000               0.2825
      2503219475   BLOOMFIELD                                           07003    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,250.00                     300,250.00   First Lien                                      0           300,250.00                         0.00                      -          320,000.00                    93.83               93.83   PMI                       LPMI                        30                                    9.963             0.375       0.0325     2.000               2.4075
      2503219477   DETROIT                                              48206    MI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      90,000.00                      90,000.00   First Lien                                      0            90,000.00                         0.00                      -          120,000.00                    75.00               75.00   No MI                     NO MI                        0                                    9.990             0.375       0.0325     0.000               0.4075
      2503219509   MORA                                                 55051    MN                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     130,000.00                     130,000.00   First Lien                                      0           130,000.00                         0.00                      -          153,000.00                    84.97               84.97   PMI                       LPMI                        22                                    7.500             0.375       0.0325     0.540               0.9475
      2503219522   FAIFIELD                                             06825    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     476,000.00                     476,000.00   First Lien                                      0           476,000.00                         0.00                      -          560,000.00                    85.00               85.00   PMI                       LPMI                        22                                    7.990             0.375       0.0325     0.740               1.1475
      2503219530   ORANGE PARK                                          32073    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     104,800.00                     104,800.00   First Lien                                      0           104,800.00                         0.00                      -          131,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.950             0.375       0.0325     0.000               0.4075
      2503219538   ORLANDO                                              32811    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     158,650.00                     158,650.00   First Lien                                      0           158,650.00                         0.00                 167000              167000                    95.00               95.00   PMI                       LPMI                        30                                   9.7200            0.3750       0.0325    1.3600               1.7675
      2503219541   LAS VEGAS                                            89147    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     511,000.00                     511,000.00   First Lien                                      0           511,000.00                         0.00                      -          730,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503219548   STUDIO CITY AREA                                     91604    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     885,000.00                     885,000.00   First Lien                                      0           885,000.00                         0.00                1180000             1180000                    75.00               75.00   No MI                     NO MI                        0                                   6.2500            0.3750       0.0325    0.0000               0.4075
      2503219551   LOS ANGELES                                          90068    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     370,000.00                     370,000.00   First Lien                                      0           370,000.00                         0.00                      -        1,079,381.00                    34.28               34.28   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503219562   LOS ANGELES                                          90068    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     438,000.00                     438,000.00   First Lien                                      0           438,000.00                         0.00                      -        1,070,000.00                    40.94               40.94   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503219596   BROOKFIELD                                           06804    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     432,250.00                     432,250.00   First Lien                                      0           432,250.00                         0.00                      -          455,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.800             0.375       0.0325     1.100               1.5075
      2503219602   CORONA                                               92883    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          475,000.00                    84.22               84.22   PMI                       LPMI                        22                                    7.900             0.375       0.0325     1.030               1.4375
      2503219607   PORT ST LUCIE                                        34953    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     269,100.00                     269,100.00   First Lien                                      0           269,100.00                         0.00                 299000              300000                    90.00               90.00   PMI                       LPMI                        25                                   8.7500            0.3750       0.0325    0.8200               1.2275
      2503219614   LONG BEACH                                           90806    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     573,750.00                     573,750.00   First Lien                                      0           573,750.00                         0.00                      -          765,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503219617   SAN MARCOS                                           92069    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     260,000.00                     260,000.00   First Lien                                      0           260,000.00                         0.00                 390000              395000                    66.67               66.67   No MI                     NO MI                        0                                   5.8880            0.3750       0.0325    0.0000               0.4075
      2503219619   GENEVA                                               60134    IL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     305,800.00                     305,800.00   First Lien                                      0           305,800.00                         0.00                      -          410,000.00                    74.59               74.59   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503219626   SACRAMENTO                                           95842    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     319,000.00                     319,000.00   First Lien                                      0           319,000.00                         0.00                      -          345,000.00                    92.47               92.47   PMI                       LPMI                        30                                    6.650             0.375       0.0325     0.580               0.9875
      2503219644   RANCHO CORDOVA                                       95670    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     240,350.00                     240,350.00   First Lien                                      0           240,350.00                         0.00                      -          253,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.500             0.375       0.0325     0.580               0.9875
      2503219658   SAN PABLO                                            94806    CA                             20070601                 20370401   FIXED                   Yes                                             360                    480                          360                     327,000.00                     327,000.00   First Lien                                      0           327,000.00                         0.00                      -          555,000.00                    58.92               58.92   No MI                     NO MI                        0                                    5.500             0.250       0.0325     0.000               0.2825
      2503219707   EWA BEACH                                            96706    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     510,000.00                     510,000.00   First Lien                                      0           510,000.00                         0.00                      -          600,000.00                    85.00               85.00   PMI                       LPMI                        22                                    9.025             0.375       0.0325     0.880               1.2875
      2503219711   BRADENTON                                            34203    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     185,300.00                     185,300.00   First Lien                                      0           185,300.00                         0.00                      -          218,000.00                    85.00               85.00   PMI                       LPMI                        22                                    7.125             0.375       0.0325     0.930               1.3375
      2503219715   MILFORD                                              06461    CT                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                 560000              500000                   100.00              100.00   PMI                       LPMI                        35                                   8.3500            0.3750       0.0325    1.2900               1.6975
      2503219719   MIAMI                                                33142    FL                             20070501                 20370401   FIXED                   No                                              360                    360                          360                      90,000.00                      90,000.00   First Lien                                      0            90,000.00                         0.00                      -          190,000.00                    47.37               47.37   No MI                     NO MI                        0                                    6.160             0.250       0.0325     0.000               0.2825
      2503219720   KULA                                                 96790    HI                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     523,000.00                     523,000.00   First Lien                                      0           523,000.00                         0.00                      -        1,230,000.00                    42.53               42.53   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503219756   SAINT PETERSBURG                                     33707    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -        1,100,000.00                    54.55               54.55   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503219770   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     530,000.00                     530,000.00   First Lien                                      0           530,000.00                         0.00                      -          730,000.00                    72.61               72.61   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503219771   CLOVIS                                               93612    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     120,800.00                     120,800.00   First Lien                                      0           120,800.00                         0.00                      -          240,000.00                    50.34               50.34   No MI                     NO MI                        0                                    6.975             0.375       0.0325     0.000               0.4075
      2503219785   MENDOTA                                              93640    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     108,000.00                     108,000.00   First Lien                                      0           108,000.00                         0.00                      -          225,000.00                    48.00               48.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503219788   SINGER ISLAND                                        33404    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     352,500.00                     352,500.00   First Lien                                      0           352,500.00                         0.00                 470000              470000                    75.00               75.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503219789   SINGER ISLAND                                        33404    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     483,750.00                     483,750.00   First Lien                                      0           483,750.00                         0.00                 645000              650000                    75.00               75.00   No MI                     NO MI                        0                                   6.8500            0.3750       0.0325    0.0000               0.4075
      2503219790   LAS VEGAS                                            89123    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     288,000.00                     288,000.00   First Lien                                      0           360,000.00                    72,000.00                      -          360,000.00                    80.00              100.00   No MI                     NO MI                        0                                    7.715             0.375       0.0325     0.000               0.4075
      2503219798   THOUSAND OAKS (WESTLAKE V                            91362    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     720,000.00                     720,000.00   First Lien                                      0           810,000.00                    90,000.00                 900000              930000                    80.00               90.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      2503219806   GLENDORA                                             91741    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     470,000.00                     470,000.00   First Lien                                      0           470,000.00                         0.00                      -          785,000.00                    59.88               59.88   No MI                     NO MI                        0                                    6.000             0.250       0.0325     0.000               0.2825
      2503219811   ANAHEIM                                              92804    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     548,000.00                     548,000.00   First Lien                                      0           548,000.00                         0.00                      -          685,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.890             0.375       0.0325     0.000               0.4075
      2503219814   STOCKTON                                             95206    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     288,000.00                     288,000.00   First Lien                                      0           288,000.00                         0.00                      -          360,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.850             0.375       0.0325     0.000               0.4075
      2503219824   PALM BAY                                             32908    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     150,200.00                     150,200.00   First Lien                                      0           180,200.00                    30,000.00                 200300              207000                    74.99               89.97   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      2503219825   CENTRAL POINT                                        97502    OR                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     373,500.00                     373,500.00   First Lien                                      0           415,000.00                    41,500.00                 415000              415000                    90.00              100.00   PMI                       LPMI                        25                                   8.5990            0.3750       0.0325    0.8900               1.2975
      2503219843   OAKLAND PARK                                         33309    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     185,000.00                     185,000.00   First Lien                                      0           185,000.00                         0.00                      -          265,000.00                    69.82               69.82   No MI                     NO MI                        0                                    6.325             0.375       0.0325     0.000               0.4075
      2503219845   KAILUA-KONA                                          96740    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     390,000.00                     390,000.00   First Lien                                      0           390,000.00                         0.00                      -          525,000.00                    74.29               74.29   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503219848   SAN DIEGO                                            92104    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     700,000.00                     700,000.00   First Lien                                      0           700,000.00                         0.00                      -          940,000.00                    74.47               74.47   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503219850   KEAAU                                                96749    HI                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     207,200.00                     207,200.00   First Lien                                      0           207,200.00                         0.00                      -          259,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503219851   WEST PALM BEACH                                      33412    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     251,250.00                     251,250.00   First Lien                                      0           318,250.00                    67,000.00                 335000              360000                    75.00               95.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503219857   LA QUINTA                                            92253    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     255,000.00                     255,000.00   First Lien                                      0           255,000.00                         0.00                      -          340,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503219859   WALDORF                                              20603    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                      -          450,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.300             0.375       0.0325     0.000               0.4075
      2503219861   NORFOLK                                              23509    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     134,400.00                     134,400.00   First Lien                                      0           134,400.00                         0.00                 168000              168500                    80.00               80.00   No MI                     NO MI                        0                                   8.7200            0.3750       0.0325    0.0000               0.4075
      2503219866   CARMEL                                               93923    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     950,000.00                     950,000.00   First Lien                                      0           950,000.00                         0.00                      -        1,750,000.00                    54.29               54.29   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503219870   CHICAGO                                              60636    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     243,000.00                     243,000.00   First Lien                                      0           243,000.00                         0.00                      -          270,000.00                    90.00               90.00   PMI                       LPMI                        25                                    7.990             0.375       0.0325     1.260               1.6675
      2503219904   HACKENSACK                                           07601    NJ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     318,750.00                     318,750.00   First Lien                                      0           382,457.00                    63,707.00                      -          425,000.00                    75.00               89.99   No MI                     NO MI                        0                                    7.700             0.375       0.0325     0.000               0.4075
      2503219907   COCOA                                                32927    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     153,150.00                     153,150.00   First Lien                                      0           153,150.00                         0.00                      -          180,200.00                    84.99               84.99   PMI                       LPMI                        22                                    9.000             0.375       0.0325     1.150               1.5575
      2503219908   HACKENSACK                                           07601    NJ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           431,952.00                    71,952.00                      -          480,000.00                    75.00               89.99   No MI                     NO MI                        0                                    7.700             0.375       0.0325     0.000               0.4075
      2503219914   BALTIMORE                                            21225    MD                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      93,600.00                      93,600.00   First Lien                                      0            93,600.00                         0.00                      -          117,000.00                    80.00               80.00   No MI                     NO MI                        0                                   10.500             0.375       0.0325     0.000               0.4075
      2503219917   LA PUENTE                                            91744    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     428,000.00                     428,000.00   First Lien                                      0           428,000.00                         0.00                      -          545,000.00                    78.54               78.54   No MI                     NO MI                        0                                    6.590             0.375       0.0325     0.000               0.4075
      2503219918   ROXBURY                                              02119    MA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                 300000              340000                    80.00               80.00   No MI                     NO MI                        0                                   9.2500            0.3750       0.0325    0.0000               0.4075
      2503219927   BALDWIN PARK                                         91706    CA                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     343,200.00                     343,200.00   First Lien                                      0           343,200.00                         0.00                 429000              429000                    80.00               80.00   No MI                     NO MI                        0                                   6.3750            0.3750       0.0325    0.0000               0.4075
      2503219937   ORANGE COVE                                          93646    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     128,500.00                     128,500.00   First Lien                                      0           128,500.00                         0.00                      -          185,000.00                    69.46               69.46   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503219943   SEATTLE                                              98188    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     272,650.00                     272,650.00   First Lien                                      0           272,650.00                         0.00                 287000              287000                    95.00               95.00   PMI                       BPMI                        30                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503219952   HUNTINGTON PARK AREA                                 90255    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     370,000.00                     370,000.00   First Lien                                      0           370,000.00                         0.00                      -          480,000.00                    77.09               77.09   No MI                     NO MI                        0                                    7.100             0.250       0.0325     0.000               0.2825
      2503219953   FONTANA                                              92337    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          435,000.00                    55.18               55.18   No MI                     NO MI                        0                                    6.900             0.250       0.0325     0.000               0.2825
      2503219959   MILILANI                                             96789    HI                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     344,000.00                     344,000.00   First Lien                                      0           344,000.00                         0.00                      -          430,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503219969   NEWARK                                               94560    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     520,000.00                     520,000.00   First Lien                                      0           520,000.00                         0.00                      -          650,000.00                    80.00               80.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503219990   SAN DIEGO                                            92111    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          598,000.00                    50.17               50.17   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503219997   CLOVIS                                               93612    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     246,500.00                     246,500.00   First Lien                                      0           246,500.00                         0.00                      -          300,000.00                    82.17               82.17   PMI                       BPMI                        22                                    6.990             0.250       0.0325     0.000               0.2825
      2503219999   SINGER ISLAND                                        33404    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     427,500.00                     427,500.00   First Lien                                      0           427,500.00                         0.00                 570000              570000                    75.00               75.00   No MI                     NO MI                        0                                   6.7900            0.3750       0.0325    0.0000               0.4075
      2503220005   MOORPARK                                             93021    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     243,000.00                     243,000.00   First Lien                                      0           243,000.00                         0.00                      -          655,000.00                    37.10               37.10   No MI                     NO MI                        0                                    6.140             0.375       0.0325     0.000               0.4075
      2503220008   GIRARD                                               62640    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      65,000.00                      65,000.00   First Lien                                      0            65,000.00                         0.00                      -           87,000.00                    74.72               74.72   No MI                     NO MI                        0                                    8.990             0.375       0.0325     0.000               0.4075
      2503220009   IMPERIAL BEACH                                       91932    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     294,000.00                     294,000.00   First Lien                                      0           294,000.00                         0.00                      -          460,000.00                    63.92               63.92   No MI                     NO MI                        0                                    6.575             0.375       0.0325     0.000               0.4075
      2503220012   PALMDALE                                             93550    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           240,000.00                         0.00                      -          330,000.00                    72.73               72.73   No MI                     NO MI                        0                                    7.500             0.250       0.0325     0.000               0.2825
      2503220029   COOPER CITY                                          33328    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     238,500.00                     238,500.00   First Lien                                      0           251,750.00                    13,250.00                 265000              270000                    90.00               95.00   PMI                       LPMI                        25                                   8.3000            0.3750       0.0325    1.2600               1.6675
      2503220044   LOS ANGELES (NORTH HOLLYW                            91606    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          750,000.00                    54.00               54.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503220045   CHICAGO                                              60652    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          300,000.00                    83.34               83.34   PMI                       BPMI                        22                                    6.875             0.375       0.0325     0.000               0.4075
      2503220048   FOUNTAIN VALLEY                                      92708    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     717,250.00                     717,250.00   First Lien                                      0           717,250.00                         0.00                 755000              755000                    95.00               95.00   No MI                     NO MI                        0                                   9.5500            0.3750       0.0325    0.0000               0.4075
      2503220049   SACRAMENTO                                           95820    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          200,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503220050   SALT LAKE CITY                                       84119    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     137,700.00                     137,700.00   First Lien                                      0           137,700.00                         0.00                      -          186,000.00                    74.04               74.04   No MI                     NO MI                        0                                    6.810             0.375       0.0325     0.000               0.4075
      2503220072   ANAHEIM                                              92807    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     524,500.00                     524,500.00   First Lien                                      0           524,500.00                         0.00                      -          735,000.00                    71.37               71.37   No MI                     NO MI                        0                                    6.875             0.375       0.0325     0.000               0.4075
      2503220073   SAN BERNARDINO (FONTANA A                            92335    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     222,000.00                     222,000.00   First Lien                                      0           222,000.00                         0.00                      -          340,000.00                    65.30               65.30   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503220076   OXNARD                                               93033    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     163,000.00                     163,000.00   First Lien                                      0           163,000.00                         0.00                      -          698,000.00                    23.36               23.36   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503220077   CORAL SPRINGS                                        33065    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     275,000.00                     275,000.00   First Lien                                      0           275,000.00                         0.00                      -          399,000.00                    68.93               68.93   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      2503220094   AMSTON                                               06231    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     329,000.00                     329,000.00   First Lien                                      0           329,000.00                         0.00                      -          373,000.00                    88.21               88.21   PMI                       LPMI                        25                                    7.875             0.375       0.0325     1.190               1.5975
      2503220099   SUITLAND                                             20746    MD                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     212,000.00                     212,000.00   First Lien                                      0           212,000.00                         0.00                      -          265,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      2503220102   WAIPAHU                                              96797    HI                             20070501                 20370401   FIXED                   Yes                                             360                    480                          360                     479,000.00                     479,000.00   First Lien                                      0           479,000.00                         0.00                      -          600,000.00                    79.84               79.84   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503220103   APACHE JUNCTION                                      85219    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     150,500.00                     150,500.00   First Lien                                      0           150,500.00                         0.00                      -          215,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503220107   SACRAMENTO                                           95824    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     175,000.00                     175,000.00   First Lien                                      0           175,000.00                         0.00                      -          259,000.00                    67.57               67.57   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503220111   OXNARD                                               93033    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     540,000.00                     540,000.00   First Lien                                      0           627,800.00                    87,800.00                      -          675,000.00                    80.00               93.01   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503220136   GARDEN GROVE                                         92843    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     490,000.00                     490,000.00   First Lien                                      0           490,000.00                         0.00                      -          615,000.00                    79.68               79.68   No MI                     NO MI                        0                                    6.490             0.375       0.0325     0.000               0.4075
      2503220149   STATE COLLEGE                                        16801    PA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     125,500.00                     125,500.00   First Lien                                      0           125,500.00                         0.00                      -          148,000.00                    84.80               84.80   PMI                       LPMI                        22                                    7.250             0.250       0.0325     0.640               0.9225
      2503220154   LA PUENTE AREA                                       91746    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                      -          430,000.00                    58.14               58.14   No MI                     NO MI                        0                                    6.730             0.375       0.0325     0.000               0.4075
      2503220162   LOS ANGELES (LA PUENTE AR                            91745    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          450,000.00                    44.45               44.45   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503220163   COALINGA                                             93210    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     216,000.00                     216,000.00   First Lien                                      0           270,000.00                    54,000.00                 270000              285000                    80.00              100.00   No MI                     NO MI                        0                                   6.7500            0.3750       0.0325    0.0000               0.4075
      2503220173   BATON ROUGE                                          70816    LA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           190,000.00                    30,000.00                 200000              200000                    80.00               95.00   No MI                     NO MI                        0                                   7.3700            0.2500       0.0325    0.0000               0.2825
      2503220177   OXFORD                                               06478    CT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           528,000.00                   136,000.00                      -          615,000.00                    63.74               85.86   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503220199   TUCSON                                               85730    AZ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     172,900.00                     172,900.00   First Lien                                      0           172,900.00                         0.00                      -          182,000.00                    95.00               95.00   PMI                       BPMI                        30                                    8.500             0.375       0.0325     0.000               0.4075
      2503220210   LOS ANGELES (CANOGA PARK                             91303    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     684,000.00                     684,000.00   First Lien                                      0           855,000.00                   171,000.00                 855000              855000                    80.00              100.00   No MI                     NO MI                        0                                   6.9900            0.3750       0.0325    0.0000               0.4075
      2503220222   MADISON                                              04950    ME                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      96,300.00                      96,300.00   First Lien                                      0            96,300.00                         0.00                 107000              113000                    90.00               90.00   PMI                       LPMI                        25                                   7.3750            0.3750       0.0325    0.5200               0.9275
      2503220234   LOS ANGELES                                          90045    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     599,200.00                     599,200.00   First Lien                                      0           711,550.00                   112,350.00                 749000              750000                    80.00               95.00   No MI                     NO MI                        0                                   7.0900            0.3750       0.0325    0.0000               0.4075
      2503220257   QUEEN CREEK                                          85243    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     219,500.00                     219,500.00   First Lien                                      0           219,500.00                         0.00                      -          244,000.00                    89.96               89.96   PMI                       BPMI                        25                                    7.500             0.375       0.0325     0.000               0.4075
      2503220268   TEMECULA                                             92591    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     545,000.00                     545,000.00   First Lien                                      0           545,000.00                         0.00                      -          705,000.00                    77.31               77.31   No MI                     NO MI                        0                                    6.400             0.375       0.0325     0.000               0.4075
      2503220271   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          555,000.00                    54.06               54.06   No MI                     NO MI                        0                                    6.325             0.375       0.0325     0.000               0.4075
      2503220288   SAN BERNARDINO                                       92410    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     243,000.00                     243,000.00   First Lien                                      0           243,000.00                         0.00                      -          325,000.00                    74.77               74.77   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503220293   NEW FAIRFIELD                                        06812    CT                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     731,250.00                     731,250.00   First Lien                                      0           731,250.00                         0.00                      -          975,000.00                    75.00               75.00   No MI                     NO MI                        0                                    8.750             0.375       0.0325     0.000               0.4075
      2503220307   STOCKTON                                             95205    CA                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     165,000.00                     165,000.00   First Lien                                      0           165,000.00                         0.00                      -          288,000.00                    57.30               57.30   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503220308   ANTIOCH                                              94509    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     251,000.00                     251,000.00   First Lien                                      0           251,000.00                         0.00                 345000              345000                    72.76               72.76   No MI                     NO MI                        0                                   6.4100            0.3750       0.0325    0.0000               0.4075
      2503220317   KINGSBURG                                            93631    CA                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     250,000.00                     250,000.00   First Lien                                      0           250,000.00                         0.00                 250000              250000                   100.00              100.00   PMI                       LPMI                        35                                   6.7500            0.3750       0.0325    0.4700               0.8775
      2503220358   OAKDALE                                              55128    MN                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     218,500.00                     218,500.00   First Lien                                      0           218,500.00                         0.00                 230000              245000                    95.00               95.00   PMI                       BPMI                        30                                   6.9400            0.3750       0.0325    0.0000               0.4075
      2503220395   ROGERS                                               72758    AR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     276,000.00                     276,000.00   First Lien                                      0           276,000.00                         0.00                      -          345,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503220425   CHICAGO                                              60615    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     623,920.00                     623,920.00   First Lien                                      0           779,900.00                   155,980.00                 779900              800000                    80.00              100.00   No MI                     NO MI                        0                                   8.3000            0.3750       0.0325    0.0000               0.4075
      2503220433   CENTERTON                                            72719    AR                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     383,310.00                     383,310.00   First Lien                                      0           383,310.00                         0.00                 425900              426000                    90.00               90.00   PMI                       LPMI                        25                                  11.1500            0.3750       0.0325    0.6900               1.0975
      2503220450   RIVERSIDE                                            92509    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     355,500.00                     355,500.00   First Lien                                      0           355,500.00                         0.00                      -          395,000.00                    90.00               90.00   PMI                       LPMI                        25                                    6.990             0.250       0.0325     0.470               0.7525
      2503220474   LOS ANGELES                                          90047    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      88,000.00                      88,000.00   First Lien                                      0            88,000.00                         0.00                      -          485,000.00                    18.15               18.15   No MI                     NO MI                        0                                    6.850             0.375       0.0325     0.000               0.4075
      2503220476   VENTURA                                              93003    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     302,000.00                     302,000.00   First Lien                                      0           302,000.00                         0.00                      -          403,000.00                    74.94               74.94   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503220486   SANTA ANA                                            92703    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     255,000.00                     255,000.00   First Lien                                      0           255,000.00                         0.00                      -          630,000.00                    40.48               40.48   No MI                     NO MI                        0                                    5.625             0.375       0.0325     0.000               0.4075
      2503220487   LA PUENTE                                            91746    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      81,000.00                      81,000.00   First Lien                                      0            81,000.00                         0.00                      -          380,000.00                    21.32               21.32   No MI                     NO MI                        0                                    6.200             0.375       0.0325     0.000               0.4075
      2503220497   LA PUENTE                                            91746    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     190,000.00                     190,000.00   First Lien                                      0           190,000.00                         0.00                      -          420,000.00                    45.24               45.24   No MI                     NO MI                        0                                    5.670             0.375       0.0325     0.000               0.4075
      2503220512   CENTERTON                                            72719    AR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     404,900.00                     404,900.00   First Lien                                      0           404,900.00                         0.00                 449900              450000                    90.00               90.00   PMI                       LPMI                        25                                  10.4000            0.3750       0.0325    0.6200               1.0275
      2503220527   RANCHO CUCAMONGA                                     91730    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     383,950.00                     383,950.00   First Lien                                      0           431,950.00                    48,000.00                 479999              480000                    79.99               89.99   No MI                     NO MI                        0                                   8.8380            0.3750       0.0325    0.0000               0.4075
      2503220547   HANFORD                                              93230    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     120,000.00                     120,000.00   First Lien                                      0           120,000.00                         0.00                      -          196,000.00                    61.23               61.23   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      2503220549   MIAMI                                                33126    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     236,250.00                     236,250.00   First Lien                                      0           315,000.00                    78,750.00                 315000              315000                    75.00              100.00   No MI                     NO MI                        0                                   7.9900            0.3750       0.0325    0.0000               0.4075
      2503220553   HOMESTEAD                                            33032    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     252,000.00                     252,000.00   First Lien                                      0           252,000.00                         0.00                 280000              280000                    90.00               90.00   PMI                       LPMI                        25                                   7.3250            0.3750       0.0325    1.2100               1.6175
      2503220573   HEMPSTEAD                                            11550    NY                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     260,000.00                     260,000.00   First Lien                                      0           260,000.00                         0.00                      -          435,000.00                    59.78               59.78   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503220574   WATSONVILLE                                          95076    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     478,150.00                     478,150.00   First Lien                                      0           478,150.00                         0.00                      -          655,000.00                    73.00               73.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503220581   CORONA                                               92880    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     488,000.00                     488,000.00   First Lien                                      0           488,000.00                         0.00                      -          610,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503220591   FELTON                                               95018    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     585,000.00                     585,000.00   First Lien                                      0           585,000.00                         0.00                      -          780,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503220602   CARSON                                               90745    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     314,500.00                     314,500.00   First Lien                                      0           314,500.00                         0.00                      -          370,000.00                    85.00               85.00   PMI                       LPMI                        22                                    6.650             0.375       0.0325     0.630               1.0375
      2503220612   ANAHEIM                                              92805    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     516,000.00                     516,000.00   First Lien                                      0           516,000.00                         0.00                      -          750,000.00                    68.80               68.80   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503220613   LITCHFIELD PARK                                      85340    AZ                             20070501                 20370401   FIXED                   No                                              360                    360                          360                     188,800.00                     188,800.00   First Lien                                      0           188,800.00                         0.00                      -          236,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.125             0.250       0.0325     0.000               0.2825
      2503220614   FRESNO                                               93710    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     204,250.00                     204,250.00   First Lien                                      0           204,250.00                         0.00                 215000              230000                    95.00               95.00   PMI                       LPMI                        30                                  10.1000            0.2500       0.0325    1.5600               1.8425
      2503220618   STOCKTON                                             95203    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     228,000.00                     228,000.00   First Lien                                      0           228,000.00                         0.00                      -          285,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.600             0.250       0.0325     0.000               0.2825
      2503220624   FORT LAUDERDALE                                      33328    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     183,900.00                     183,900.00   First Lien                                      0           229,880.00                    45,980.00                 229900              233000                    80.00              100.00   No MI                     NO MI                        0                                   7.4100            0.3750       0.0325    0.0000               0.4075
      2503220636   COLONIA                                              07067    NJ                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     275,000.00                     275,000.00   First Lien                                      0           275,000.00                         0.00                      -          395,000.00                    69.63               69.63   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503220637   SALINAS                                              93906    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     527,000.00                     527,000.00   First Lien                                      0           527,000.00                         0.00                      -          660,000.00                    79.85               79.85   No MI                     NO MI                        0                                    5.890             0.375       0.0325     0.000               0.4075
      2503220639   VICTORVILLE                                          92392    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                      -          400,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.100             0.375       0.0325     0.580               0.9875
      2503220640   KING CITY                                            93930    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     545,000.00                     545,000.00   First Lien                                      0           545,000.00                         0.00                      -          795,000.00                    68.56               68.56   No MI                     NO MI                        0                                    6.270             0.375       0.0325     0.000               0.4075
      2503220667   COVINGTON                                            30016    GA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     127,300.00                     127,300.00   First Lien                                      0           127,300.00                         0.00                 134000              134000                    95.00               95.00   PMI                       BPMI                        30                                   7.6200            0.3750       0.0325    0.0000               0.4075
      2503220674   MIAMI                                                33145    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     265,410.00                     265,410.00   First Lien                                      0           265,410.00                         0.00                 294900              310000                    90.00               90.00   PMI                       LPMI                        25                                  12.8000            0.3750       0.0325    1.6600               2.0675
      2503220677   TUALATIN                                             97062    OR                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     243,900.00                     243,900.00   First Lien                                      0           243,900.00                         0.00                 271000              274000                    90.00               90.00   PMI                       LPMI                        25                                   8.3250            0.2500       0.0325    0.9700               1.2525
      2503220694   MISSION VIEJO                                        92692    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          490,000.00                    81.64               81.64   PMI                       LPMI                        22                                    6.125             0.375       0.0325     0.750               1.1575
      2503220707   PALM SPRINGS                                         92262    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          402,000.00                    74.63               74.63   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503220709   BROOKLYN                                             11226    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     495,000.00                     495,000.00   First Lien                                      0           495,000.00                         0.00                 550000              550000                    90.00               90.00   PMI                       LPMI                        25                                   8.7800            0.3750       0.0325    0.6400               1.0475
      2503220712   LOS ANGELES (VAN NUYS ARE                            91401    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          585,000.00                    51.29               51.29   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503220715   ENGLEWOOD                                            34224    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     173,000.00                     173,000.00   First Lien                                      0           173,000.00                         0.00                      -          240,000.00                    72.09               72.09   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503220726   PAHOA                                                96778    HI                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     178,500.00                     178,500.00   First Lien                                      0           178,500.00                         0.00                      -          225,000.00                    79.34               79.34   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503220729   CHICAGO                                              60645    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     270,000.00                     270,000.00   First Lien                                      0           270,000.00                         0.00                 300000              300000                    90.00               90.00   PMI                       LPMI                        25                                  11.3750            0.3750       0.0325    0.7200               1.1275
      2503220743   MIAMI                                                33155    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     299,250.00                     299,250.00   First Lien                                      0           299,250.00                         0.00                 315000              335000                    95.00               95.00   PMI                       LPMI                        30                                  10.2500            0.3750       0.0325    1.6100               2.0175
      2503220746   FRESNO                                               93725    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     187,200.00                     187,200.00   First Lien                                      0           208,000.00                    20,800.00                 208000              208000                    90.00              100.00   PMI                       LPMI                        25                                   7.5000            0.3750       0.0325    1.2400               1.6475
      2503220793   BOYNTON BEACH                                        33435    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     164,800.00                     164,800.00   First Lien                                      0           164,800.00                         0.00                      -          206,000.00                    80.00               80.00   No MI                     NO MI                        0                                    9.000             0.375       0.0325     0.000               0.4075
      2503220808   LOS ANGELES                                          90059    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     438,750.00                     438,750.00   First Lien                                      0           438,750.00                         0.00                      -          585,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.170             0.375       0.0325     0.000               0.4075
      2503220817   STEAMBOAT SPRINGS                                    80487    CO                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     234,800.00                     234,800.00   First Lien                                      0           234,800.00                         0.00                 293500              295000                    80.00               80.00   No MI                     NO MI                        0                                   7.6000            0.2500       0.0325    0.0000               0.2825
      2503220825   SALINAS                                              93905    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     467,000.00                     467,000.00   First Lien                                      0           467,000.00                         0.00                      -          701,000.00                    66.62               66.62   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503220831   EAST ORANGE                                          07017    NJ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     332,500.00                     332,500.00   First Lien                                      0           332,500.00                         0.00                      -          350,000.00                    95.00               95.00   PMI                       LPMI                        30                                   11.625             0.375       0.0325     1.610               2.0175
      2503220836   STAMFORD                                             06902    CT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     627,200.00                     627,200.00   First Lien                                      0           783,200.00                   156,000.00                 784000              784000                    80.00               99.90   No MI                     NO MI                        0                                   8.2200            0.3750       0.0325    0.0000               0.4075
      2503220837   SACRAMENTO                                           95842    CA                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     190,000.00                     190,000.00   First Lien                                      0           190,000.00                         0.00                      -          280,000.00                    67.86               67.86   No MI                     NO MI                        0                                    6.100             0.375       0.0325     0.000               0.4075
      2503220855   PALMDALE                                             93550    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     240,000.00                     240,000.00   First Lien                                      0           300,000.00                    60,000.00                      -          300,000.00                    80.00              100.00   No MI                     NO MI                        0                                    5.975             0.375       0.0325     0.000               0.4075
      2503220858   PLEASANT GROVE                                       84062    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     576,000.00                     576,000.00   First Lien                                      0           659,000.00                    83,000.00                      -          720,000.00                    80.00               91.53   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503220867   HAWTHORNE (INGLEWOOD AREA                            90304    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     350,000.00                     350,000.00   First Lien                                      0           350,000.00                         0.00                      -          635,000.00                    55.12               55.12   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503220901   FORT LAUDERDALE                                      33334    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     273,950.00                     273,950.00   First Lien                                      0           273,950.00                         0.00                 288400              322000                    94.99               94.99   PMI                       BPMI                        30                                   8.5900            0.3750       0.0325    0.0000               0.4075
      2503220905   GREAT MEADOWS                                        07838    NJ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     291,000.00                     291,000.00   First Lien                                      0           291,000.00                         0.00                      -          365,000.00                    79.73               79.73   No MI                     NO MI                        0                                    7.150             0.250       0.0325     0.000               0.2825
      2503220944   (TUJUNGA AREA) LOS ANGELE                            91042    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          614,000.00                    48.86               48.86   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503220946   SACRAMENTO                                           95831    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           392,000.00                         0.00                      -          490,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503220951   MOSES LAKE                                           98837    WA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     123,500.00                     123,500.00   First Lien                                      0           123,500.00                         0.00                      -          150,000.00                    82.34               82.34   PMI                       LPMI                        22                                    6.890             0.375       0.0325     0.650               1.0575
      2503220990   MISSION HILLS                                        91345    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     464,000.00                     464,000.00   First Lien                                      0           464,000.00                         0.00                      -          635,000.00                    73.08               73.08   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503221036   KIHEI                                                96753    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     648,000.00                     648,000.00   First Lien                                      0           648,000.00                         0.00                      -          810,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503221048   TAMPA                                                33610    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     252,000.00                     252,000.00   First Lien                                      0           252,000.00                         0.00                 280000              280000                    90.00               90.00   PMI                       LPMI                        25                                  11.3500            0.3750       0.0325    0.9900               1.3975
      2503221054   LOXAHATCHEE                                          33470    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     456,000.00                     456,000.00   First Lien                                      0           456,000.00                         0.00                 480000              505000                    95.00               95.00   PMI                       LPMI                        30                                   8.9630            0.3750       0.0325    1.2200               1.6275
      2503221069   SACRAMENTO                                           95822    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     232,000.00                     232,000.00   First Lien                                      0           232,000.00                         0.00                      -          290,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.990             0.375       0.0325     0.000               0.4075
      2503221080   WATSONVILLE                                          95076    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                      -          741,000.00                    67.48               67.48   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503221087   MORGAN HILL                                          95037    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     862,000.00                     862,000.00   First Lien                                      0           862,000.00                         0.00                      -        1,150,000.00                    74.96               74.96   No MI                     NO MI                        0                                    7.282             0.375       0.0325     0.000               0.4075
      2503221114   LYNWOOD                                              90262    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     498,750.00                     498,750.00   First Lien                                      0           498,750.00                         0.00                 525000              530000                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    1.2200               1.6275
      2503221131   PHOENIX                                              85035    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     213,300.00                     213,300.00   First Lien                                      0           213,300.00                         0.00                      -          237,000.00                    90.00               90.00   PMI                       LPMI                        25                                    8.500             0.375       0.0325     1.290               1.6975
      2503221149   (TEMPLE CITY AREA) EL MON                            91780    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     501,000.00                     501,000.00   First Lien                                      0           501,000.00                         0.00                      -          750,000.00                    66.80               66.80   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503221167   FONTANA                                              92335    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     318,000.00                     318,000.00   First Lien                                      0           368,000.00                    50,000.00                      -          375,000.00                    84.80               98.14   PMI                       LPMI                        22                                    6.990             0.375       0.0325     0.630               1.0375
      2503221169   KAHULUI                                              96732    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     481,600.00                     481,600.00   First Lien                                      0           481,600.00                         0.00                      -          602,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503221190   KAILUA                                               96734    HI                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           900,000.00                   150,000.00                      -        1,050,000.00                    71.43               85.72   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503221204   FRESNO                                               93702    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     145,000.00                     145,000.00   First Lien                                      0           145,000.00                         0.00                      -          211,000.00                    68.73               68.73   No MI                     NO MI                        0                                    6.560             0.375       0.0325     0.000               0.4075
      2503221216   JAMAICA                                              11436    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     421,200.00                     421,200.00   First Lien                                      0           421,200.00                         0.00                 526500              530000                    80.00               80.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      2503221231   FRESNO                                               93720    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     322,905.00                     322,905.00   First Lien                                      0           322,905.00                         0.00                 339900              339900                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    1.2800               1.6875
      2503221234   PORTLAND                                             97236    OR                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     263,500.00                     263,500.00   First Lien                                      0           263,500.00                         0.00                      -          330,000.00                    79.85               79.85   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503221254   FRESNO                                               93727    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     427,500.00                     427,500.00   First Lien                                      0           427,500.00                         0.00                 450000              465000                    95.00               95.00   PMI                       LPMI                        30                                   8.3500            0.3750       0.0325    1.1600               1.5675
      2503221272   JAMAICA                                              11433    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     548,000.00                     548,000.00   First Lien                                      0           548,000.00                         0.00                 685000              685000                    80.00               80.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      2503221291   LOS ANGELES (SYLMAR AREA)                            91342    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     280,000.00                     280,000.00   First Lien                                      0           280,000.00                         0.00                      -          485,000.00                    57.74               57.74   No MI                     NO MI                        0                                    6.625             0.250       0.0325     0.000               0.2825
      2503221296   FRESNO                                               93702    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     110,500.00                     110,500.00   First Lien                                      0           110,500.00                         0.00                 130000              130000                    85.00               85.00   PMI                       LPMI                        22                                  11.2500            0.3750       0.0325    0.9400               1.3475
      2503221302   WAIPAHU                                              96797    HI                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     385,000.00                     385,000.00   First Lien                                      0           385,000.00                         0.00                      -          820,000.00                    46.96               46.96   No MI                     NO MI                        0                                    6.750             0.250       0.0325     0.000               0.2825
      2503221339   CLAREMONT                                            91711    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                      85,000.00                      85,000.00   First Lien                                      0            85,000.00                         0.00                      -          350,000.00                    24.29               24.29   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      2503221344   ELGIN                                                60120    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     251,750.00                     251,750.00   First Lien                                      0           251,750.00                         0.00                 265000              265000                    95.00               95.00   PMI                       LPMI                        30                                   8.5000            0.3750       0.0325    0.8800               1.2875
      2503221354   HARBOR CITY AREA                                     90710    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     110,000.00                     110,000.00   First Lien                                      0           110,000.00                         0.00                      -          685,000.00                    16.06               16.06   No MI                     NO MI                        0                                    7.125             0.250       0.0325     0.000               0.2825
      2503221384   RANCHO CUCAMONGA                                     91737    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     424,000.00                     424,000.00   First Lien                                      0           424,000.00                         0.00                      -          530,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503221387   QUAIL VALLEY                                         92587    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     371,440.00                     371,440.00   First Lien                                      0           371,440.00                         0.00                 390990              390990                    95.00               95.00   PMI                       LPMI                        30                                   7.7870            0.2500       0.0325    0.7800               1.0625
      2503221412   PLEASANT GROVE                                       84062    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           570,000.00                    90,000.00                      -          600,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      2503221414   GLENDALE                                             91208    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     484,000.00                     484,000.00   First Lien                                      0           484,000.00                         0.00                 605000              605000                    80.00               80.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      2503221429   COTTONWOOD                                           86326    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     529,200.00                     529,200.00   First Lien                                      0           560,000.00                    30,800.00                 560000              560000                    94.50              100.00   PMI                       LPMI                        30                                   8.1000            0.2500       0.0325    1.2300               1.5125
      2503221453   BURBANK                                              91501    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           460,000.00                         0.00                      -          750,000.00                    61.34               61.34   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503221468   DULUTH                                               30096    GA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     136,800.00                     136,800.00   First Lien                                      0           171,900.00                    35,100.00                      -          172,000.00                    79.54               99.95   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      2503221489   SCHENECTADY                                          12304    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                      94,525.00                      94,525.00   First Lien                                      0            94,525.00                         0.00                  99500               99500                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.3750       0.0325    0.0000               0.4075
      2503221498   LOS ANGELES                                          90018    CA                             20070601                 20370401   FIXED                   Yes                                             360                    480                          360                     405,000.00                     405,000.00   First Lien                                      0           405,000.00                         0.00                      -          565,000.00                    71.69               71.69   No MI                     NO MI                        0                                    6.900             0.250       0.0325     0.000               0.2825
      2503221504   SUN CITY (AREA)                                      92586    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     248,000.00                     248,000.00   First Lien                                      0           248,000.00                         0.00                      -          312,000.00                    79.49               79.49   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503221532   CLINTON                                              20735    MD                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     356,250.00                     356,250.00   First Lien                                      0           356,250.00                         0.00                      -          375,000.00                    95.00               95.00   PMI                       LPMI                        30                                    7.990             0.250       0.0325     0.480               0.7625
      2503221560   PHOENIX                                              85022    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     233,750.00                     233,750.00   First Lien                                      0           233,750.00                         0.00                 275000              275000                    85.00               85.00   PMI                       LPMI                        22                                   8.5000            0.3750       0.0325    0.7400               1.1475
      2503221565   TUCSON                                               85757    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     125,000.00                     125,000.00   First Lien                                      0           125,000.00                         0.00                      -          222,000.00                    56.31               56.31   No MI                     NO MI                        0                                    6.820             0.250       0.0325     0.000               0.2825
      2503221568   TUCSON                                               85757    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     126,000.00                     126,000.00   First Lien                                      0           126,000.00                         0.00                      -          222,000.00                    56.76               56.76   No MI                     NO MI                        0                                    6.820             0.250       0.0325     0.000               0.2825
      2503221573   PHOENIX                                              85003    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     331,839.00                     331,839.00   First Lien                                      0           414,798.00                    82,959.00                 414799              450000                    80.00              100.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      2503221575   RIVERSIDE                                            92509    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     393,000.00                     393,000.00   First Lien                                      0           393,000.00                         0.00                      -          527,000.00                    74.58               74.58   No MI                     NO MI                        0                                    7.500             0.250       0.0325     0.000               0.2825
      2503221611   FIREBAUGH                                            93622    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     127,500.00                     127,500.00   First Lien                                      0           183,900.00                    56,400.00                      -          255,000.00                    50.00               72.12   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503221642   STOCKTON                                             95210    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     375,250.00                     375,250.00   First Lien                                      0           375,250.00                         0.00                      -          395,000.00                    95.00               95.00   PMI                       LPMI                        30                                    8.250             0.250       0.0325     0.630               0.9125
      2503221677   LAYTON                                               84041    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     346,000.00                     346,000.00   First Lien                                      0           346,000.00                         0.00                      -          440,000.00                    78.64               78.64   No MI                     NO MI                        0                                    7.350             0.375       0.0325     0.000               0.4075
      2503221680   TEMPE                                                85283    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     164,000.00                     164,000.00   First Lien                                      0           164,000.00                         0.00                      -          223,000.00                    73.55               73.55   No MI                     NO MI                        0                                    7.000             0.250       0.0325     0.000               0.2825
      2503221685   CONCORD                                              94521    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     295,000.00                     295,000.00   First Lien                                      0           295,000.00                         0.00                      -          560,000.00                    52.68               52.68   No MI                     NO MI                        0                                    6.875             0.250       0.0325     0.000               0.2825
      2503221699   KENMORE                                              98028    WA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     301,000.00                     301,000.00   First Lien                                      0           301,000.00                         0.00                      -          430,000.00                    70.00               70.00   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503221747   CLINTON                                              84015    UT                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     163,800.00                     163,800.00   First Lien                                      0           163,800.00                         0.00                 182000              182000                    90.00               90.00   PMI                       LPMI                        25                                   7.5000            0.2500       0.0325    0.5200               0.8025
      2503221776   PEBBLE BEACH                                         93953    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     847,500.00                     847,500.00   First Lien                                      0           847,500.00                         0.00                1130000             1150000                    75.00               75.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      2503221815   COMPTON AREA                                         90222    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     197,000.00                     197,000.00   First Lien                                      0           197,000.00                         0.00                      -          360,000.00                    54.73               54.73   No MI                     NO MI                        0                                    6.300             0.375       0.0325     0.000               0.4075
      2503221874   AREA OF FONTANA                                      92335    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     199,000.00                     199,000.00   First Lien                                      0           199,000.00                         0.00                      -          410,000.00                    48.54               48.54   No MI                     NO MI                        0                                    5.950             0.375       0.0325     0.000               0.4075
      2503221883   POMONA                                               91767    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     297,200.00                     297,200.00   First Lien                                      0           297,200.00                         0.00                      -          405,000.00                    73.39               73.39   No MI                     NO MI                        0                                    5.700             0.375       0.0325     0.000               0.4075
      2503221898   LAS VEGAS                                            89156    NV                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     202,400.00                     202,400.00   First Lien                                      0           202,400.00                         0.00                 253000              253000                    80.00               80.00   No MI                     NO MI                        0                                   7.5450            0.3750       0.0325    0.0000               0.4075
      2503221899   KISSIMMEE                                            34746    FL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     172,000.00                     172,000.00   First Lien                                      0           193,285.00                    21,285.00                 215000              240000                    80.00               89.90   No MI                     NO MI                        0                                   7.0000            0.2500       0.0325    0.0000               0.2825
      2503221911   WELLINGTON                                           33414    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     600,000.00                     600,000.00   First Lien                                      0           600,000.00                         0.00                      -          750,000.00                    80.00               80.00   No MI                     NO MI                        0                                   10.850             0.375       0.0325     0.000               0.4075
      2503221940   SALINAS                                              93905    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     290,000.00                     290,000.00   First Lien                                      0           290,000.00                         0.00                      -          502,000.00                    57.77               57.77   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503221942   SALINAS                                              93905    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     285,000.00                     285,000.00   First Lien                                      0           285,000.00                         0.00                      -          435,000.00                    65.52               65.52   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503221944   SAINT ALBANS                                         11412    NY                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     376,000.00                     376,000.00   First Lien                                      0           376,000.00                         0.00                      -          470,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.875             0.250       0.0325     0.000               0.2825
      2503221952   SAN LEANDRO                                          94577    CA                             20070601                 20220501   FIXED                   No                                              180                    180                          180                     291,000.00                     291,000.00   First Lien                                      0           291,000.00                         0.00                      -          485,000.00                    60.00               60.00   No MI                     NO MI                        0                                    6.676             0.250       0.0325     0.000               0.2825
      2503221956   PROVO                                                84601    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     446,500.00                     446,500.00   First Lien                                      0           446,500.00                         0.00                 470000              470000                    95.00               95.00   PMI                       LPMI                        30                                   8.2500            0.3750       0.0325    0.8300               1.2375
      2503221959   CHINO                                                91710    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                      -          600,000.00                    60.00               60.00   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      2503222017   CHICAGO                                              60641    IL                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     345,000.00                     345,000.00   First Lien                                      0           345,000.00                         0.00                      -          390,000.00                    88.47               88.47   PMI                       LPMI                        25                                    8.525             0.250       0.0325     1.090               1.3725
      2503222029   CHICAGO                                              60636    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     195,500.00                     195,500.00   First Lien                                      0           195,500.00                         0.00                 230000              230000                    85.00               85.00   PMI                       LPMI                        22                                  10.8400            0.3750       0.0325    1.0000               1.4075
      2503222044   HESPERIA                                             92345    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     312,000.00                     312,000.00   First Lien                                      0           312,000.00                         0.00                 390000              390000                    80.00               80.00   No MI                     NO MI                        0                                   6.5000            0.2500       0.0325    0.0000               0.2825
      2503222056   TULARE                                               93274    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     414,000.00                     414,000.00   First Lien                                      0           414,000.00                         0.00                 460000              475000                    90.00               90.00   PMI                       LPMI                        25                                   6.3410            0.3750       0.0325    0.4600               0.8675
      2503222067   BOTHELL                                              98011    WA                             20070601                 20220501   FIXED                   No                                              180                    180                          180                     225,400.00                     225,400.00   First Lien                                      0           225,400.00                         0.00                      -          322,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.550             0.250       0.0325     0.000               0.2825
      2503222095   RICHMOND                                             23224    VA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     103,500.00                     103,500.00   First Lien                                      0           103,500.00                         0.00                 115000              122000                    90.00               90.00   PMI                       LPMI                        25                                  11.1000            0.3750       0.0325    1.4400               1.8475
      2503222276   SAINT ALBANS                                         11412    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     489,250.00                     489,250.00   First Lien                                      0           489,250.00                         0.00                 515000              525000                    95.00               95.00   PMI                       LPMI                        30                                   9.1000            0.3750       0.0325    1.1600               1.5675
      2503222398   CANOGA PARK                                          91303    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     540,000.00                     540,000.00   First Lien                                      0           540,000.00                         0.00                      -          675,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.850             0.375       0.0325     0.000               0.4075
      2503222410   CLIFTON                                              07011    NJ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     510,000.00                     510,000.00   First Lien                                      0           510,000.00                         0.00                 600000              600000                    85.00               85.00   PMI                       LPMI                        22                                   9.7500            0.3750       0.0325    0.6900               1.0975
      2503222421   SOUTH OZONE PARK                                     11420    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     560,500.00                     560,500.00   First Lien                                      0           560,500.00                         0.00                 590000              590000                    95.00               95.00   PMI                       BPMI                        30                                   8.0000            0.3750       0.0325    0.0000               0.4075
      2503222426   CHICAGO                                              60628    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     168,000.00                     168,000.00   First Lien                                      0           168,000.00                         0.00                      -          210,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.500             0.375       0.0325     0.000               0.4075
      2503222473   CHICAGO                                              60639    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     301,500.00                     301,500.00   First Lien                                      0           301,500.00                         0.00                 335000              335000                    90.00               90.00   PMI                       LPMI                        25                                  11.9900            0.3750       0.0325    1.4400               1.8475
      2503222505   PHOENIX                                              85041    AZ                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     213,000.00                     213,000.00   First Lien                                      0           213,000.00                         0.00                      -          274,000.00                    77.74               77.74   No MI                     NO MI                        0                                    6.500             0.250       0.0325     0.000               0.2825
      2503222536   HENDERSON                                            89014    NV                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     283,500.00                     283,500.00   First Lien                                      0           283,500.00                         0.00                      -          315,000.00                    90.00               90.00   PMI                       BPMI                        25                                    6.875             0.375       0.0325     0.000               0.4075
      2503222572   ORLANDO                                              32839    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     142,200.00                     142,200.00   First Lien                                      0           142,200.00                         0.00                 158000              158000                    90.00               90.00   PMI                       BPMI                        25                                   9.9700            0.3750       0.0325    0.0000               0.4075
      2503222577   ANAHEIM                                              92805    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     438,500.00                     438,500.00   First Lien                                      0           438,500.00                         0.00                      -          630,000.00                    69.61               69.61   No MI                     NO MI                        0                                    5.650             0.375       0.0325     0.000               0.4075
      2503222705   SALINAS                                              93906    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     534,750.00                     534,750.00   First Lien                                      0           534,750.00                         0.00                      -          575,000.00                    93.00               93.00   PMI                       LPMI                        30                                    6.650             0.375       0.0325     0.990               1.3975
      2503222714   PHOENIX                                              85008    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     179,910.00                     179,910.00   First Lien                                      0           179,910.00                         0.00                 199900              203000                    90.00               90.00   PMI                       LPMI                        25                                  12.0000            0.3750       0.0325    1.6100               2.0175
      2503222737   JOSHUA TREE                                          92252    CA                             20070601                 20370501   FIXED                   No                                              360                    360                          360                     328,000.00                     328,000.00   First Lien                                      0           328,000.00                         0.00                      -          410,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.250       0.0325     0.000               0.2825
      2503222750   CARMEL                                               46032    IN                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     507,450.00                     507,450.00   First Lien                                      0           597,000.00                    89,550.00                 597000              597000                    85.00              100.00   PMI                       BPMI                        22                                  10.0500            0.3750       0.0325    0.0000               0.4075
      3903000039   HIALEAH                                              33015    FL                             20050401                 20350301   ARMS                    No                                              360                    360                          335                     295,000.00                     294,895.00   First Lien                                      0           295,000.00                         0.00                 295000              295000                   100.00              100.00   PMI                       BPMI                        35                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103618137   LOOMIS                                               95650    CA                             20061001                 20360901   ARMS                    No                                              360                    360                          353                     663,200.00                     663,200.00   First Lien                                      0           746,100.00                    82,900.00                 829000              829000                    80.00               90.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103642494   LYNDEN                                               98264    WA                             20070101                 20361201   ARMS                    No                                              360                    360                          356                     221,000.00                     221,000.00   First Lien                                      0           274,000.00                    53,000.00                      -          277,000.00                    79.79               98.92   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      1103643476   WARREN                                               05674    VT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     281,250.00                     280,787.58   First Lien                                      0           315,000.00                    33,750.00                      -          375,000.00                    75.00               84.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103646168   VALLEJO                                              94589    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     300,000.00                     300,000.00   First Lien                                      0           337,500.00                    37,500.00                 375000              375000                    80.00               90.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103646798   ORLANDO                                              11926    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     240,300.00                     240,069.95   First Lien                                      0           240,300.00                         0.00                      -          267,000.00                    90.00               90.00   LPMI                      LPMI                        25                                   11.550             0.375       0.0325     1.960               2.3675
      1103651163   MONTEBELLO                                           90640    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     460,000.00                     460,000.00   First Lien                                      0           460,000.00                         0.00                 575000              575000                    80.00               80.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103655024   COLLEYVILLE                                          76034    TX                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     500,000.00                     498,977.96   First Lien                                      0           500,000.00                         0.00                 875000              929000                    57.15               57.15   No MI                     NO MI                        0                                   5.8750            0.3750       0.0325    0.0000               0.4075
      1103657475   SACRAMENTO                                           34934    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     238,000.00                     238,000.00   First Lien                                      0           272,000.00                    34,000.00                      -          340,000.00                    70.00               80.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103658445   MIAMI                                                33183    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     257,000.00                     257,000.00   First Lien                                      0           257,000.00                         0.00                      -          405,000.00                    63.46               63.46   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      1103658486   HONOLULU                                             35292    HI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     432,350.00                     432,350.00   First Lien                                      0           432,350.00                         0.00                 576500              577000                    75.00               75.00   No MI                     NO MI                        0                                   6.1250            0.3750       0.0325    0.0000               0.4075
      1103659219   ATLANTIC BEACH                                       32233    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     442,500.00                     442,500.00   First Lien                                      0           442,500.00                         0.00                      -          590,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.700             0.375       0.0325     0.000               0.4075
      1103659421   LOS ANGELES                                          90042    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     500,000.00                     500,000.00   First Lien                                      0           500,000.00                         0.00                 626000              689000                    79.88               79.88   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      1103660532   RIVERSIDE                                            33732    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     320,000.00                     320,000.00   First Lien                                      0           440,000.00                   120,000.00                      -          465,000.00                    68.82               94.63   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      1103660736   RODEO                                                94572    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     497,500.00                     497,500.00   First Lien                                      0           497,500.00                         0.00                      -          635,000.00                    78.35               78.35   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      1103661798   PORT SAINT LUCIE                                     34953    FL                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     208,000.00                     208,000.00   First Lien                                      0           247,000.00                    39,000.00                      -          260,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103661802   BROOKLYN                                             40588    NY                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     975,000.00                     975,000.00   First Lien                                      0         1,170,000.00                   195,000.00                1300000             1300000                    75.00               90.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661805   MIAMI LAKES                                          33016    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                   1,000,000.00                   1,000,000.00   First Lien                                      0         1,300,000.00                   300,000.00                1300000             1355000                    76.93              100.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661817   SAVANNAH                                             11428    GA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                      52,000.00                      51,824.59   First Lien                                      0            52,000.00                         0.00                      -           65,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661824   KANSAS CITY                                          23406    MO                             20070401                 20370301   ARMS                    No                                              360                    360                          359                      76,400.00                      76,233.76   First Lien                                      0            87,038.00                    10,638.00                      -           97,000.00                    78.77               89.73   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103661840   PORTSMOUTH                                           45114    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     108,800.00                     108,800.00   First Lien                                      0           108,800.00                         0.00                 136000              146000                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661871   HAZEL CREST                                          22035    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     132,000.00                     132,000.00   First Lien                                      0           132,000.00                         0.00                      -          170,000.00                    77.65               77.65   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      1103661875   CRYSTAL RIVER                                        12537    FL                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     159,020.00                     159,020.00   First Lien                                      0           198,775.00                    39,755.00                 198775              300000                    80.00              100.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661876   EAGLE CREEK                                          97022    OR                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     159,500.00                     159,169.50   First Lien                                      0           159,500.00                         0.00                 199375              240000                    80.00               80.00   No MI                     NO MI                        0                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103661889   GOODYEAR                                             85338    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     175,300.00                     175,300.00   First Lien                                      0           219,125.00                    43,825.00                 219171              260000                    79.99               99.98   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103661896   WATERBURY                                            38908    CT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     184,000.00                     183,628.80   First Lien                                      0           207,000.00                    23,000.00                      -          230,000.00                    80.00               90.00   No MI                     NO MI                        0                                    8.000             0.375       0.0325     0.000               0.4075
      1103661906   SAVANNAH                                             11414    GA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     195,000.00                     194,308.30   First Lien                                      0           195,000.00                         0.00                      -          260,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      1103661920   DECATUR                                              30030    GA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     238,000.00                     238,000.00   First Lien                                      0           323,000.00                    85,000.00                 340000              349000                    70.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103661934   SPRINGFIELD GARDENS                                  40646    NY                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     260,000.00                     259,123.10   First Lien                                      0           260,000.00                         0.00                 325000              365000                    80.00               80.00   No MI                     NO MI                        0                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103661957   SCHAUMBURG                                           60194    IL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     312,000.00                     311,416.90   First Lien                                      0           312,000.00                         0.00                      -          390,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103661973   SAN MARCOS                                           92069    CA                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                      -          485,000.00                    78.36               78.36   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      1103661977   MIAMI                                                12084    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     388,000.00                     388,000.00   First Lien                                      0           460,750.00                    72,750.00                 485000              515000                    80.00               95.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103661983   HALLANDALE BEACH                                     33009    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     397,600.00                     397,600.00   First Lien                                      0           497,000.00                    99,400.00                 497000              500000                    80.00              100.00   No MI                     NO MI                        0                                   8.1250            0.3750       0.0325    0.0000               0.4075
      1103662022   HALLANDALE                                           33009    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     678,750.00                     678,750.00   First Lien                                      0           859,750.00                   181,000.00                 905000              905000                    75.00               95.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103662031   PHOENIX                                              85086    AZ                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     880,000.00                     880,000.00   First Lien                                      0           880,000.00                         0.00                      -        1,100,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      1103662266   TACOMA                                               35889    WA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     193,507.00                     193,507.00   First Lien                                      0           193,507.00                         0.00                      -          341,523.00                    56.66               56.66   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103662474   PLEASANTON                                           94588    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     417,500.00                     417,500.00   First Lien                                      0           417,500.00                         0.00                      -          650,000.00                    64.24               64.24   No MI                     NO MI                        0                                    5.990             0.375       0.0325     0.000               0.4075
      1103662651   SAN JOSE                                             34724    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     606,000.00                     606,000.00   First Lien                                      0           606,000.00                         0.00                      -          810,000.00                    74.82               74.82   No MI                     NO MI                        0                                    5.875             0.375       0.0325     0.000               0.4075
      1103662695   TAMPA                                                12217    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     100,500.00                     100,500.00   First Lien                                      0           100,500.00                         0.00                      -          134,000.00                    75.00               75.00   No MI                     NO MI                        0                                    8.500             0.375       0.0325     0.000               0.4075
      1103662792   ADELANTO                                             33664    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     240,500.00                     240,500.00   First Lien                                      0           253,400.00                    12,900.00                      -          370,000.00                    65.00               68.49   No MI                     NO MI                        0                                    8.500             0.375       0.0325     0.000               0.4075
      1103662825   MIAMI                                                33142    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     168,750.00                     168,750.00   First Lien                                      0           168,750.00                         0.00                      -          250,000.00                    67.50               67.50   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103663149   MIAMI                                                33179    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     306,000.00                     306,000.00   First Lien                                      0           306,000.00                         0.00                      -          340,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    7.750             0.375       0.0325     0.790               1.1975
      1103663310   LOS ANGELES                                          33395    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     444,000.00                     444,000.00   First Lien                                      0           444,000.00                         0.00                      -          555,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.375             0.375       0.0325     0.000               0.4075
      1103663444   MIAMI BEACH                                          33139    FL                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     450,850.00                     450,540.79   First Lien                                      0           450,850.00                         0.00                 474628              530000                    95.00               95.00   LPMI                      LPMI                        30                                  11.2000            0.3750       0.0325    2.4300               2.8375
      1103663486   MIAMI                                                33156    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     492,000.00                     492,000.00   First Lien                                      0           492,000.00                         0.00                 615000              615000                    80.00               80.00   No MI                     NO MI                        0                                   8.7500            0.3750       0.0325    0.0000               0.4075
      1103663552   UNICORPORATED AREA OF POM                            91766    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     302,250.00                     302,250.00   First Lien                                      0           395,250.00                    93,000.00                      -          465,000.00                    65.00               85.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      1103663555   PAIA                                                 96779    HI                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     476,000.00                     476,000.00   First Lien                                      0           476,000.00                         0.00                      -          595,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103663583   FRESNO                                               34152    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     272,000.00                     272,000.00   First Lien                                      0           323,000.00                    51,000.00                      -          340,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103663739   BOWIE                                                44032    MD                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     546,250.00                     546,250.00   First Lien                                      0           546,250.00                         0.00                 575000              580000                    95.00               95.00   LPMI                      LPMI                        30                                   8.6250            0.3750       0.0325    0.8600               1.2675
      1103663827   OAK CREEK                                            80467    CO                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     556,000.00                     556,000.00   First Lien                                      0           556,000.00                         0.00                 695000              696000                    80.00               80.00   No MI                     NO MI                        0                                   8.3750            0.3750       0.0325    0.0000               0.4075
      1103663993   REHOBOTH                                             02769    MA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     241,500.00                     241,500.00   First Lien                                      0           241,500.00                         0.00                      -          345,000.00                    70.00               70.00   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103664208   HAYMARKET                                            20169    VA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     920,000.00                     919,350.68   First Lien                                      0         1,092,500.00                   172,500.00                1150000             1175000                    80.00               95.00   No MI                     NO MI                        0                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103664215   WEST FRIENDSHIP                                      21794    MD                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     920,000.00                     920,000.00   First Lien                                      0           920,000.00                         0.00                      -        1,200,000.00                    76.67               76.67   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103664217   POTOMAC                                              20854    MD                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     400,000.00                     400,000.00   First Lien                                      0           400,000.00                         0.00                      -          510,000.00                    78.44               78.44   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103664235   CAPE CORAL                                           33993    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     280,000.00                     279,930.67   First Lien                                      0           280,000.00                         0.00                 280000              285000                   100.00              100.00   LPMI                      LPMI                        35                                   8.5000            0.3750       0.0325    1.3500               1.7575
      1103664238   PEMBROKE PINES                                       33025    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     318,000.00                     317,913.29   First Lien                                      0           318,000.00                         0.00                 318000              320000                   100.00              100.00   LPMI                      LPMI                        35                                   8.1700            0.3750       0.0325    1.5600               1.9675
      1103664243   HUDSON                                               34669    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     155,000.00                     154,948.74   First Lien                                      0           155,000.00                         0.00                 155000              162000                   100.00              100.00   PMI                       BPMI                        35                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103664269   SPRINGFIELD                                          36899    MA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     163,750.00                     163,675.78   First Lien                                      0           163,750.00                         0.00                 163750              164000                   100.00              100.00   PMI                       BPMI                        35                                   6.3750            0.3750       0.0325    0.0000               0.4075
      1103664273   FORT LAUDERDALE                                      12138    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     287,127.00                     287,127.00   First Lien                                      0           287,127.00                         0.00                 287127              290000                   100.00              100.00   PMI                       BPMI                        35                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103664287   GLEN BURNIE                                          21061    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     236,000.00                     235,929.91   First Lien                                      0           236,000.00                         0.00                      -          236,000.00                   100.00              100.00   PMI                       BPMI                        35                                    7.875             0.375       0.0325     0.000               0.4075
      1103664294   MIAMI                                                33162    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     410,000.00                     409,905.68   First Lien                                      0           410,000.00                         0.00                 410000              410000                   100.00              100.00   LPMI                      LPMI                        35                                   8.7500            0.3750       0.0325    0.9600               1.3675
      1103664306   FAIRBURN                                             11002    GA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     245,000.00                     244,945.69   First Lien                                      0           245,000.00                         0.00                 245000              250000                   100.00              100.00   LPMI                      LPMI                        35                                   8.8750            0.3750       0.0325    1.5600               1.9675
      1103664309   COCONUT CREEK                                        33073    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     279,900.00                     279,900.00   First Lien                                      0           279,900.00                         0.00                 279900              279900                   100.00              100.00   PMI                       BPMI                        35                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103664315   FORT LAUDERDALE                                      12125    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                 450000              460000                   100.00              100.00   LPMI                      LPMI                        35                                   9.1250            0.3750       0.0325    1.6100               2.0175
      1103664408   WINDERMERE                                           34786    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     639,200.00                     639,200.00   First Lien                                      0           759,050.00                   119,850.00                 799000              820000                    80.00               95.00   No MI                     NO MI                        0                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103664409   MIAMI                                                33147    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     157,250.00                     157,250.00   First Lien                                      0           157,250.00                         0.00                      -          185,000.00                    85.00               85.00   LPMI                      LPMI                        22                                    8.750             0.375       0.0325     0.650               1.0575
      1103664410   ALTAMONTE SPRINGS                                    11884    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     141,210.00                     141,176.30   First Lien                                      0           141,210.00                         0.00                 156900              157000                    90.00               90.00   LPMI                      LPMI                        25                                   8.6250            0.3750       0.0325    0.9700               1.3775
      1103664412   TAMPA                                                12207    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     200,481.00                     200,434.88   First Lien                                      0           200,481.00                         0.00                 235861              260000                    85.00               85.00   LPMI                      LPMI                        22                                   8.7500            0.3750       0.0325    0.9400               1.3475
      1103664414   ORLANDO                                              11912    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     178,505.00                     178,505.00   First Lien                                      0           178,505.00                         0.00                 187900              195000                    95.00               95.00   PMI                       BPMI                        30                                   7.8750            0.3750       0.0325    0.0000               0.4075
      1103664415   PUYALLUP                                             98375    WA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     480,000.00                     479,817.13   First Lien                                      0           480,000.00                         0.00                      -          650,000.00                    73.85               73.85   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103664416   ORLANDO                                              32835    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     495,000.00                     495,000.00   First Lien                                      0           495,000.00                         0.00                      -          555,000.00                    89.19               89.19   PMI                       BPMI                        25                                    7.500             0.375       0.0325     0.000               0.4075
      1103664418   MIAMI                                                33176    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     128,000.00                     127,957.67   First Lien                                      0           128,000.00                         0.00                      -          160,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      1103664420   PARRISH                                              12469    FL                             20070401                 20370401   ARMS                    Yes                                             360                    480                          359                     320,400.00                     320,215.83   First Lien                                      0           320,400.00                         0.00                 358500              430000                    89.38               89.38   LPMI                      LPMI                        25                                   8.0000            0.3750       0.0325    0.7200               1.1275
      1103664425   KISSIMMEE                                            34759    FL                             20070501                 20370301   ARMS                    Yes                                             360                    480                          360                     216,000.00                     215,928.57   First Lien                                      0           216,000.00                         0.00                 270000              310000                    80.00               80.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103664426   NORTH LAUDERDALE                                     33068    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     180,500.00                     180,500.00   First Lien                                      0           180,500.00                         0.00                      -          190,000.00                    95.00               95.00   LPMI                      LPMI                        30                                    8.000             0.375       0.0325     0.690               1.0975
      1103664427   TAMPA                                                12209    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     109,600.00                     109,561.09   First Lien                                      0           109,600.00                         0.00                      -          137,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103664428   POMPANO BEACH                                        33064    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     284,000.00                     283,783.90   First Lien                                      0           284,000.00                         0.00                      -          355,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.375             0.375       0.0325     0.000               0.4075
      1103664431   CENTERTON                                            26499    AR                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     239,760.00                     239,603.17   First Lien                                      0           239,760.00                         0.00                      -          267,000.00                    89.80               89.80   PMI                       BPMI                        25                                    8.125             0.375       0.0325     0.000               0.4075
      1103664432   NEW BRUNSWICK                                        39692    NJ                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     298,000.00                     297,805.07   First Lien                                      0           298,000.00                         0.00                      -          381,000.00                    78.22               78.22   No MI                     NO MI                        0                                    8.125             0.375       0.0325     0.000               0.4075
      1103664434   LEHIGH ACRES                                         33936    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     246,810.00                     246,660.48   First Lien                                      0           246,810.00                         0.00                 259800              280000                    95.00               95.00   LPMI                      LPMI                        30                                   8.5000            0.3750       0.0325    2.0800               2.4875
      1103664435   MIAMI                                                12084    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     640,000.00                     640,000.00   First Lien                                      0           640,000.00                         0.00                 800000              805000                    80.00               80.00   No MI                     NO MI                        0                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103664436   CORAL SPRINGS                                        33065    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     156,000.00                     155,953.67   First Lien                                      0           156,000.00                         0.00                 176000              191000                    88.64               88.64   LPMI                      LPMI                        25                                   7.8750            0.3750       0.0325    1.1200               1.5275
      1103664437   SAINT PETERSBURG                                     12246    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     140,000.00                     139,910.73   First Lien                                      0           140,000.00                         0.00                      -          170,000.00                    82.36               82.36   PMI                       BPMI                        12                                    8.250             0.375       0.0325     0.000               0.4075
      1103664438   HOLLYWOOD                                            33020    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     499,900.00                     499,900.00   First Lien                                      0           499,900.00                         0.00                 560000              580000                    89.27               89.27   PMI                       BPMI                        25                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103664439   ORLANDO                                              11910    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                      87,660.00                      87,628.87   First Lien                                      0            87,660.00                         0.00                  97900               98000                    89.55               89.55   PMI                       BPMI                        25                                   7.2500            0.3750       0.0325    0.0000               0.4075
      1103664441   ORLANDO                                              11909    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     112,000.00                     111,918.94   First Lien                                      0           112,000.00                         0.00                      -          168,000.00                    66.67               66.67   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103664442   ORLANDO                                              11909    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     112,000.00                     111,918.94   First Lien                                      0           112,000.00                         0.00                      -          169,000.00                    66.28               66.28   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103664443   JACKSONVILLE                                         11736    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     193,500.00                     193,446.55   First Lien                                      0           193,500.00                         0.00                      -          215,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    8.125             0.375       0.0325     1.220               1.6275
      1103664444   ORLANDO                                              11913    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      94,900.00                      94,900.00   First Lien                                      0            94,900.00                         0.00                  99900              100000                    95.00               95.00   PMI                       BPMI                        30                                   7.7500            0.3750       0.0325    0.0000               0.4075
      1103664445   ORLANDO                                              11922    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     270,720.00                     270,556.00   First Lien                                      0           270,720.00                         0.00                 338400              382000                    80.00               80.00   No MI                     NO MI                        0                                   8.5000            0.3750       0.0325    0.0000               0.4075
      1103664446   ORLANDO                                              11919    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     137,250.00                     137,217.24   First Lien                                      0           137,250.00                         0.00                 152500              185000                    90.00               90.00   LPMI                      LPMI                        25                                   8.6250            0.3750       0.0325    0.9900               1.3975
      1103664447   KISSIMMEE                                            34746    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     338,310.00                     338,310.00   First Lien                                      0           338,310.00                         0.00                 375901              376000                    90.00               90.00   PMI                       BPMI                        25                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103664448   YORK NEW SALEM                                       17371    PA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     127,600.00                     127,500.46   First Lien                                      0           127,600.00                         0.00                      -          143,500.00                    88.92               88.92   LPMI                      LPMI                        25                                    7.250             0.375       0.0325     0.370               0.7775
      1103664449   HIALEAH                                              33015    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     304,000.00                     303,899.46   First Lien                                      0           304,000.00                         0.00                 380000              385000                    80.00               80.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      1103664450   LAUDERHILL                                           12126    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     292,500.00                     292,430.18   First Lien                                      0           292,500.00                         0.00                 325000              340000                    90.00               90.00   LPMI                      LPMI                        25                                   8.6250            0.3750       0.0325    0.8700               1.2775
      1103664451   WINTER SPRINGS                                       11878    FL                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     396,000.00                     395,859.40   First Lien                                      0           396,000.00                         0.00                      -          495,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103664458   LAKE MARY                                            32746    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     148,500.00                     148,500.00   First Lien                                      0           148,500.00                         0.00                 165000              175000                    90.00               90.00   PMI                       BPMI                        25                                   8.0000            0.3750       0.0325    0.0000               0.4075
      1103664459   GROVELAND                                            34736    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     875,000.00                     875,000.00   First Lien                                      0         1,175,750.00                   300,750.00                      -        1,250,000.00                    70.00               94.06   No MI                     NO MI                        0                                    8.500             0.375       0.0325     0.000               0.4075
      1103664462   FREDERICK                                            44380    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     221,400.00                     221,400.00   First Lien                                      0           221,400.00                         0.00                      -          246,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    8.875             0.375       0.0325     1.170               1.5775
      1103664463   VILLA RICA                                           30180    GA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     187,981.00                     187,981.00   First Lien                                      0           187,981.00                         0.00                 197875              202000                    95.00               95.00   LPMI                      LPMI                        30                                   9.1250            0.3750       0.0325    1.7100               2.1175
      1103664464   CHICAGO                                              60647    IL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     468,000.00                     467,730.74   First Lien                                      0           468,000.00                         0.00                 520000              520000                    90.00               90.00   LPMI                      LPMI                        25                                   8.7500            0.3750       0.0325    0.6400               1.0475
      1103664466   PENNSBURG                                            18073    PA                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     208,165.00                     208,100.91   First Lien                                      0           208,165.00                         0.00                 244900              245000                    85.00               85.00   LPMI                      LPMI                        22                                   7.7500            0.3750       0.0325    0.3900               0.7975
      1103664467   GLEN ELLYN                                           60137    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     445,590.00                     445,590.00   First Lien                                      0           445,590.00                         0.00                 495100              640000                    90.00               90.00   PMI                       BPMI                        25                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103664470   CLINTON                                              20735    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     499,500.00                     499,346.22   First Lien                                      0           499,500.00                         0.00                      -          555,000.00                    90.00               90.00   PMI                       BPMI                        25                                    7.750             0.375       0.0325     0.000               0.4075
      1103664473   ANNAPOLIS                                            44287    MD                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     594,700.00                     594,700.00   First Lien                                      0           594,700.00                         0.00                 626000              650000                    95.00               95.00   PMI                       BPMI                        30                                   8.2500            0.3750       0.0325    0.0000               0.4075
      1103664477   GLENN DALE                                           20769    MD                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     337,500.00                     337,396.10   First Lien                                      0           337,500.00                         0.00                      -          375,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    7.750             0.375       0.0325     0.770               1.1775
      1103664480   ANAHEIM                                              33821    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     580,000.00                     580,000.00   First Lien                                      0           580,000.00                         0.00                      -          725,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.000             0.375       0.0325     0.000               0.4075
      1103664481   PUNTA GORDA                                          33955    FL                             20070501                 20370401   ARMS                    No                                              360                    360                          360                      65,000.00                      64,952.95   First Lien                                      0            65,000.00                         0.00                      -          455,000.00                    14.29               14.29   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103664484   VAIL                                                 85641    AZ                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     230,062.00                     229,991.17   First Lien                                      0           230,062.00                         0.00                 242171              243000                    95.00               95.00   LPMI                      LPMI                        30                                   7.7500            0.3750       0.0325    0.6200               1.0275
      1103664485   MARANA                                               85653    AZ                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     246,188.00                     246,137.33   First Lien                                      0           246,188.00                         0.00                 259146              260000                    95.00               95.00   LPMI                      LPMI                        30                                   9.1250            0.3750       0.0325    1.4500               1.8575
      1103664488   NORTHFIELD                                           39503    NJ                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     279,200.00                     279,100.87   First Lien                                      0           279,200.00                         0.00                      -          349,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103664490   SPARKS                                               89431    NV                             20070501                 20370401   ARMS                    Yes                                             360                    480                          360                     152,000.00                     151,946.03   First Lien                                      0           171,000.00                    19,000.00                      -          190,000.00                    80.00               90.00   No MI                     NO MI                        0                                    7.250             0.375       0.0325     0.000               0.4075
      1103664491   RENO                                                 32640    NV                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     176,000.00                     176,000.00   First Lien                                      0           176,000.00                         0.00                      -          220,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.125             0.375       0.0325     0.000               0.4075
      1103664690   SURPRISE                                             85379    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     304,000.00                     304,000.00   First Lien                                      0           304,000.00                         0.00                 320000              320000                    95.00               95.00   LPMI                      LPMI                        30                                   7.7500            0.3750       0.0325    1.0100               1.4175
      1103664824   RIVERSIDE                                            33731    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     269,100.00                     269,100.00   First Lien                                      0           269,100.00                         0.00                 299000              315000                    90.00               90.00   LPMI                      LPMI                        25                                   9.3750            0.3750       0.0325    0.6400               1.0475
      1103664858   CITY OF INDIO                                        33637    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     284,952.00                     284,952.00   First Lien                                      0           356,190.00                    71,238.00                 356190              368000                    80.00              100.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      1103664892   TAMPA                                                12218    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          252,000.00                    79.37               79.37   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103664893   TAMPA                                                12218    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     200,000.00                     200,000.00   First Lien                                      0           200,000.00                         0.00                      -          252,000.00                    79.37               79.37   No MI                     NO MI                        0                                    8.875             0.375       0.0325     0.000               0.4075
      1103664897   SPRING HILL                                          12577    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     403,200.00                     403,107.25   First Lien                                      0           403,200.00                         0.00                      -          448,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    8.750             0.375       0.0325     1.020               1.4275
      1103664903   HOMEWOOD                                             22036    IL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     247,000.00                     246,875.27   First Lien                                      0           247,000.00                         0.00                      -          260,000.00                    95.00               95.00   LPMI                      LPMI                        30                                    9.375             0.375       0.0325     1.610               2.0175
      1103664904   CORAL SPRINGS                                        33065    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     128,000.00                     128,000.00   First Lien                                      0           128,000.00                         0.00                      -          160,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.625             0.375       0.0325     0.000               0.4075
      1103665020   SANTA ANA                                            33790    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     256,500.00                     256,500.00   First Lien                                      0           256,500.00                         0.00                 270000              300000                    95.00               95.00   LPMI                      LPMI                        30                                   9.8750            0.3750       0.0325    0.9800               1.3875
      1103665119   SAN BERNARDINO                                       33701    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     300,000.00                     300,000.00   First Lien                                      0           375,000.00                    75,000.00                 375000              375000                    80.00              100.00   No MI                     NO MI                        0                                   6.5000            0.3750       0.0325    0.0000               0.4075
      1103665121   MORENO VALLEY                                        92551    CA                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     396,000.00                     395,624.26   First Lien                                      0           495,000.00                    99,000.00                      -          495,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      1103665138   PARK CIY                                             84098    UT                             20070401                 20370301   ARMS                    No                                              360                    360                          359                     426,400.00                     426,400.00   First Lien                                      0           479,700.00                    53,300.00                 533000              535000                    80.00               90.00   No MI                     NO MI                        0                                   7.0000            0.3750       0.0325    0.0000               0.4075
      1103665139   PARK CITY                                            84098    UT                             20070201                 20370101   ARMS                    No                                              360                    360                          357                     324,000.00                     324,000.00   First Lien                                      0           384,750.00                    60,750.00                      -          405,000.00                    80.00               95.00   No MI                     NO MI                        0                                    7.625             0.375       0.0325     0.000               0.4075
      1103665146   BELLFLOWER                                           33060    CA                             20070301                 20370201   ARMS                    No                                              360                    360                          358                     468,000.00                     467,606.82   First Lien                                      0           585,000.00                   117,000.00                 585000              585000                    80.00              100.00   No MI                     NO MI                        0                                   6.8750            0.3750       0.0325    0.0000               0.4075
      1103665338   TULARE                                               93274    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     137,750.00                     137,750.00   First Lien                                      0           137,750.00                         0.00                 145000              145000                    95.00               95.00   PMI                       BPMI                        30                                  10.3750            0.3750       0.0325    0.0000               0.4075
      1103665406   JACKSONVILLE                                         11735    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     108,900.00                     108,850.53   First Lien                                      0           108,900.00                         0.00                 121000              125000                    90.00               90.00   LPMI                      LPMI                        25                                   9.8750            0.3750       0.0325    0.5900               0.9975
      2503214663   BRADENTON                                            12452    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     446,000.00                     446,000.00   First Lien                                      0           574,212.00                   128,212.00                      -          655,000.00                    68.10               87.67   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503214703   DETROIT                                              17568    MI                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     103,500.00                     103,500.00   First Lien                                      0           103,500.00                         0.00                 115000              115000                    90.00               90.00   LPMI                      LPMI                        25                                  10.2250            0.3750       0.0325    0.6700               1.0775
      2503215275   MENIFEE AREA                                         92584    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     367,500.00                     367,500.00   First Lien                                      0           472,500.00                   105,000.00                      -          525,000.00                    70.00               90.00   No MI                     NO MI                        0                                    5.750             0.375       0.0325     0.000               0.4075
      2503215904   KISSIMMEE                                            34746    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     313,550.00                     313,550.00   First Lien                                      0           313,550.00                         0.00                 391990              395000                    79.99               79.99   No MI                     NO MI                        0                                   8.9900            0.3750       0.0325    0.0000               0.4075
      2503216874   SAN DIEGO                                            33620    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     220,000.00                     220,000.00   First Lien                                      0           275,000.00                    55,000.00                      -          275,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503217430   CARLSBAD                                             92008    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     342,000.00                     342,000.00   First Lien                                      0           542,000.00                   200,000.00                      -          654,000.00                    52.30               82.88   No MI                     NO MI                        0                                    5.500             0.375       0.0325     0.000               0.4075
      2503217555   BAKERSFIELD                                          34039    CA                             20070501                 20370401   ARMS                    No                                              360                    360                          360                     170,000.00                     170,000.00   First Lien                                      0           170,000.00                         0.00                      -          290,000.00                    58.63               58.63   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503218745   LAS VEGAS                                            32526    NV                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     190,350.00                     190,350.00   First Lien                                      0           190,350.00                         0.00                 237990              251000                    79.99               79.99   No MI                     NO MI                        0                                   6.1800            0.3750       0.0325    0.0000               0.4075
      2503218746   ORLANDO                                              11923    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     185,200.00                     185,200.00   First Lien                                      0           219,700.00                    34,500.00                      -          231,500.00                    80.00               94.91   No MI                     NO MI                        0                                    6.560             0.375       0.0325     0.000               0.4075
      2503219035   DENVER                                               29274    CO                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     112,000.00                     112,000.00   First Lien                                      0           112,000.00                         0.00                      -          253,000.00                    44.27               44.27   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503219105   CORONA                                               92879    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     444,000.00                     444,000.00   First Lien                                      0           444,000.00                         0.00                      -          555,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503219136   SUNRISE                                              12136    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     264,000.00                     264,000.00   First Lien                                      0           264,000.00                         0.00                      -          330,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503219467   KISSIMMEE                                            34741    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     281,250.00                     281,250.00   First Lien                                      0           281,250.00                         0.00                      -          398,000.00                    70.67               70.67   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503219561   CARLSBAD                                             92009    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     279,000.00                     279,000.00   First Lien                                      0           279,000.00                         0.00                      -          456,000.00                    61.19               61.19   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503219758   DENVER                                               29275    CO                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     120,500.00                     120,500.00   First Lien                                      0           120,500.00                         0.00                      -          154,000.00                    78.25               78.25   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503219991   OVIEDO                                               32765    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     227,400.00                     227,400.00   First Lien                                      0           227,400.00                         0.00                 239400              263400                    94.99               94.99   Radian Guaranty           BPMI                        30                                  10.0000            0.3750       0.0325    0.0000               0.4075
      2503219998   LOS ANGELES AREA                                     90022    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     397,500.00                     397,500.00   First Lien                                      0           397,500.00                         0.00                      -          530,000.00                    75.00               75.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503220195   BROOKLYN                                             40587    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     596,000.00                     596,000.00   First Lien                                      0           745,000.00                   149,000.00                 745000              765000                    80.00              100.00   No MI                     NO MI                        0                                   7.3750            0.3750       0.0325    0.0000               0.4075
      2503220202   CHICAGO                                              22086    IL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                      98,100.00                      98,100.00   First Lien                                      0            98,100.00                         0.00                 109000              109000                    90.00               90.00   LPMI                      LPMI                        25                                  10.6000            0.3750       0.0325    0.8200               1.2275
      2503220475   BLOOMINGTON                                          55437    MN                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     137,000.00                     137,000.00   First Lien                                      0           172,000.00                    35,000.00                      -          185,000.00                    74.06               92.98   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503220490   HIGLEY                                               85236    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     159,000.00                     159,000.00   First Lien                                      0           159,000.00                         0.00                      -          350,000.00                    45.43               45.43   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503220495   SAN JOSE                                             95148    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     425,500.00                     425,500.00   First Lien                                      0           544,696.00                   119,196.00                      -          785,000.00                    54.21               69.39   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503220534   JUPITER                                              33458    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     162,000.00                     162,000.00   First Lien                                      0           162,000.00                         0.00                      -          291,000.00                    55.68               55.68   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503220545   JUPITER                                              33458    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     169,650.00                     169,650.00   First Lien                                      0           169,650.00                         0.00                      -          260,000.00                    65.25               65.25   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503220773   BROOKLYN                                             40595    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     540,000.00                     540,000.00   First Lien                                      0           540,000.00                         0.00                      -          675,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.720             0.375       0.0325     0.000               0.4075
      2503220885   PALM SPRINGS                                         33461    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     185,400.00                     185,400.00   First Lien                                      0           185,400.00                         0.00                 206000              206000                    90.00               90.00   LPMI                      LPMI                        25                                  11.5000            0.3750       0.0325    1.4400               1.8475
      2503220903   WEST SACRAMENTO                                      95691    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     343,000.00                     343,000.00   First Lien                                      0           441,000.00                    98,000.00                      -          490,000.00                    70.00               90.00   No MI                     NO MI                        0                                    6.850             0.375       0.0325     0.000               0.4075
      2503221019   LEHIGH ACRES                                         33971    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     232,500.00                     232,500.00   First Lien                                      0           294,500.00                    62,000.00                      -          310,000.00                    75.00               95.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      2503221022   SACRAMENTO                                           95842    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     330,000.00                     330,000.00   First Lien                                      0           330,000.00                         0.00                      -          330,000.00                   100.00              100.00   LPMI                      LPMI                        35                                    6.750             0.375       0.0325     0.640               1.0475
      2503221039   OSSINING                                             10562    NY                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     406,000.00                     406,000.00   First Lien                                      0           406,000.00                         0.00                      -          580,000.00                    70.00               70.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503221100   LOS ANGELES                                          90016    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     586,500.00                     586,500.00   First Lien                                      0           586,500.00                         0.00                      -          690,000.00                    85.00               85.00   LPMI                      LPMI                        22                                    6.890             0.375       0.0325     0.390               0.7975
      2503221230   INGLEWOOD                                            32933    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     300,000.00                     300,000.00   First Lien                                      0           300,000.00                         0.00                      -          520,000.00                    57.70               57.70   No MI                     NO MI                        0                                    6.000             0.375       0.0325     0.000               0.4075
      2503221374   LEHIGH ACRES                                         33936    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          231,000.00                    69.27               69.27   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503221398   STOCKTON                                             34736    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     323,000.00                     323,000.00   First Lien                                      0           323,000.00                         0.00                      -          367,000.00                    88.02               88.02   Radian Guaranty           BPMI                        25                                    7.990             0.375       0.0325     0.000               0.4075
      2503221439   TAMPA                                                12207    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     234,000.00                     234,000.00   First Lien                                      0           234,000.00                         0.00                      -          335,000.00                    69.86               69.86   No MI                     NO MI                        0                                    7.350             0.375       0.0325     0.000               0.4075
      2503221440   VICTORVILLE                                          92392    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     280,800.00                     280,800.00   First Lien                                      0           280,800.00                         0.00                      -          351,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503221519   BARTOW                                               12296    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     107,000.00                     107,000.00   First Lien                                      0           107,000.00                         0.00                      -          153,000.00                    69.94               69.94   No MI                     NO MI                        0                                    7.150             0.375       0.0325     0.000               0.4075
      2503221582   VICTORVILLE                                          92392    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     365,000.00                     365,000.00   First Lien                                      0           365,000.00                         0.00                      -          413,000.00                    88.38               88.38   LPMI                      LPMI                        25                                    6.580             0.375       0.0325     0.660               1.0675
      2503221638   AREA OF LUCERNE VALLEY                               92356    CA                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     116,000.00                     116,000.00   First Lien                                      0           145,000.00                    29,000.00                 145000              150000                    80.00              100.00   No MI                     NO MI                        0                                   7.8500            0.3750       0.0325    0.0000               0.4075
      2503221639   FORT LAUDERDALE                                      12114    FL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     360,905.00                     360,905.00   First Lien                                      0           360,905.00                         0.00                 379900              400000                    95.00               95.00   Radian Guaranty           BPMI                        30                                   9.7100            0.3750       0.0325    0.0000               0.4075
      2503221660   PHOENIX                                              85016    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     752,500.00                     752,500.00   First Lien                                      0           752,500.00                         0.00                      -        1,501,476.00                    50.12               50.12   No MI                     NO MI                        0                                    6.550             0.375       0.0325     0.000               0.4075
      2503221734   CASTAIC                                              91384    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     592,000.00                     592,000.00   First Lien                                      0           592,000.00                         0.00                      -          630,000.00                    93.97               93.97   LPMI                      LPMI                        30                                    6.590             0.375       0.0325     0.820               1.2275
      2503222011   LOS ANGELES                                          90018    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     528,000.00                     528,000.00   First Lien                                      0           528,000.00                         0.00                      -          660,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.500             0.375       0.0325     0.000               0.4075
      2503222019   SOUTH JORDAN                                         84095    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     457,600.00                     457,600.00   First Lien                                      0           572,000.00                   114,400.00                      -          572,000.00                    80.00              100.00   No MI                     NO MI                        0                                    6.290             0.375       0.0325     0.000               0.4075
      2503222030   TULARE                                               93274    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     309,100.00                     309,100.00   First Lien                                      0           309,100.00                         0.00                      -          503,000.00                    61.46               61.46   No MI                     NO MI                        0                                    6.990             0.375       0.0325     0.000               0.4075
      2503222113   PLUMAS LAKE                                          95961    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     324,000.00                     324,000.00   First Lien                                      0           324,000.00                         0.00                      -          405,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.420             0.375       0.0325     0.000               0.4075
      2503222136   RENTON                                               98056    WA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     431,250.00                     431,250.00   First Lien                                      0           431,250.00                         0.00                      -          575,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.375             0.375       0.0325     0.000               0.4075
      2503222167   PICO RIVERA                                          90660    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     434,400.00                     434,400.00   First Lien                                      0           434,400.00                         0.00                 543900              543000                    80.00               80.00   No MI                     NO MI                        0                                   6.6000            0.3750       0.0325    0.0000               0.4075
      2503222198   LOS ANGELES                                          90029    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     450,000.00                     450,000.00   First Lien                                      0           450,000.00                         0.00                      -          685,000.00                    65.70               65.70   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      2503222214   SALINAS                                              34218    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     340,000.00                     340,000.00   First Lien                                      0           340,000.00                         0.00                      -          560,000.00                    60.72               60.72   No MI                     NO MI                        0                                    7.050             0.375       0.0325     0.000               0.4075
      2503222225   STOCKTON                                             34742    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     440,000.00                     440,000.00   First Lien                                      0           550,000.00                   110,000.00                 550000              550000                    80.00              100.00   No MI                     NO MI                        0                                   8.8500            0.3750       0.0325    0.0000               0.4075
      2503222244   LOS ANGELES                                          90002    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     283,950.00                     283,950.00   First Lien                                      0           283,950.00                         0.00                 315500              335000                    90.00               90.00   LPMI                      LPMI                        25                                  10.3750            0.3750       0.0325    0.9200               1.3275
      2503222247   VAN NUYS                                             33333    CA                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     430,000.00                     430,000.00   First Lien                                      0           430,000.00                         0.00                      -          570,000.00                    75.44               75.44   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503222346   LOMBARD                                              60148    IL                             20070601                 20370401   ARMS                    Yes                                             360                    480                          360                     196,000.00                     196,000.00   First Lien                                      0           196,000.00                         0.00                      -          245,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.750             0.375       0.0325     0.000               0.4075
      2503222413   EL PASO                                              79936    TX                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     124,269.00                     124,269.00   First Lien                                      0           124,269.00                         0.00                 130810              132000                    95.00               95.00   LPMI                      LPMI                        30                                   9.9900            0.3750       0.0325    1.1200               1.5275
      2503222431   LA PUENTE                                            91744    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     134,000.00                     134,000.00   First Lien                                      0           134,000.00                         0.00                      -          188,000.00                    71.28               71.28   No MI                     NO MI                        0                                    6.450             0.375       0.0325     0.000               0.4075
      2503222514   MIAMI                                                33157    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     316,000.00                     316,000.00   First Lien                                      0           316,000.00                         0.00                      -          395,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503222544   LOS ANGELES                                          90061    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     480,000.00                     480,000.00   First Lien                                      0           576,000.00                    96,000.00                 640000              640000                    75.00               90.00   No MI                     NO MI                        0                                   7.1250            0.3750       0.0325    0.0000               0.4075
      2503222561   SPANISH FORK                                         84660    UT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     403,750.00                     403,750.00   First Lien                                      0           403,750.00                         0.00                      -          475,000.00                    85.00               85.00   LPMI                      LPMI                        22                                    9.050             0.375       0.0325     0.690               1.0975
      2503222626   ONTARIO                                              91764    CA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     394,250.00                     394,250.00   First Lien                                      0           394,250.00                         0.00                      -          415,000.00                    95.00               95.00   LPMI                      LPMI                        30                                   10.150             0.375       0.0325     0.870               1.2775
      2503222675   WHITTIER                                             33029    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     436,500.00                     436,500.00   First Lien                                      0           485,000.00                    48,500.00                 485000              485000                    90.00              100.00   LPMI                      LPMI                        25                                   7.5000            0.3750       0.0325    0.8900               1.2975
      2503222708   SAN JUAN BAUTISTA                                    95045    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     260,000.00                     260,000.00   First Lien                                      0           260,000.00                         0.00                      -          550,000.00                    47.28               47.28   No MI                     NO MI                        0                                    7.990             0.375       0.0325     0.000               0.4075
      2503222752   MIAMI                                                33165    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     381,600.00                     381,600.00   First Lien                                      0           381,600.00                         0.00                 477000              480000                    80.00               80.00   No MI                     NO MI                        0                                   8.0250            0.3750       0.0325    0.0000               0.4075
      2503222764   BROOKLYN                                             11236    NY                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     468,000.00                     468,000.00   First Lien                                      0           468,000.00                         0.00                      -          585,000.00                    80.00               80.00   No MI                     NO MI                        0                                    8.250             0.375       0.0325     0.000               0.4075
      2503222786   LOS ANGELES                                          90026    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     620,000.00                     620,000.00   First Lien                                      0           620,000.00                         0.00                      -          775,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.500             0.375       0.0325     0.000               0.4075
      2503222813   LOS ANGELES                                          90016    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     465,000.00                     465,000.00   First Lien                                      0           465,000.00                         0.00                      -          620,000.00                    75.00               75.00   No MI                     NO MI                        0                                    6.700             0.375       0.0325     0.000               0.4075
      2503222819   ATLANTA                                              11032    GA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     218,700.00                     218,700.00   First Lien                                      0           218,700.00                         0.00                 243000              243000                    90.00               90.00   LPMI                      LPMI                        25                                  10.8400            0.3750       0.0325    0.9200               1.3275
      2503222841   SAN DIEGO                                            33619    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     225,150.00                     225,150.00   First Lien                                      0           225,150.00                         0.00                 237000              237000                    95.00               95.00   LPMI                      LPMI                        30                                   8.3750            0.3750       0.0325    1.2100               1.6175
      2503222932   HANFORD                                              93230    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     112,000.00                     112,000.00   First Lien                                      0           112,000.00                         0.00                      -          178,000.00                    62.93               62.93   No MI                     NO MI                        0                                    6.125             0.375       0.0325     0.000               0.4075
      2503222949   SACRAMENTO                                           95832    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     228,000.00                     228,000.00   First Lien                                      0           228,000.00                         0.00                      -          285,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.250             0.375       0.0325     0.000               0.4075
      2503222982   CENTERTON                                            26499    AR                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     407,850.00                     407,850.00   First Lien                                      0           407,850.00                         0.00                 453200              454000                    90.00               90.00   LPMI                      LPMI                        25                                  10.7500            0.3750       0.0325    0.6900               1.0975
      2503222996   CENTERTON                                            26499    AR                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     400,500.00                     400,500.00   First Lien                                      0           400,500.00                         0.00                 445000              445000                    90.00               90.00   LPMI                      LPMI                        25                                  10.7500            0.3750       0.0325    0.6900               1.0975
      2503223013   FREMONT                                              94536    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     425,000.00                     425,000.00   First Lien                                      0           425,000.00                         0.00                      -          745,000.00                    57.05               57.05   No MI                     NO MI                        0                                    6.305             0.375       0.0325     0.000               0.4075
      2503223027   GREENACRES                                           33463    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     216,000.00                     216,000.00   First Lien                                      0           270,000.00                    54,000.00                 270000              303000                    80.00              100.00   No MI                     NO MI                        0                                   8.0400            0.3750       0.0325    0.0000               0.4075
      2503223104   EAST HARTFORD                                        38725    CT                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     103,500.00                     103,500.00   First Lien                                      0           103,500.00                         0.00                 115000              134000                    90.00               90.00   LPMI                      LPMI                        25                                  10.8000            0.3750       0.0325    0.9400               1.3475
      2503223117   NEW BEDFORD                                          02740    MA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     292,500.00                     292,500.00   First Lien                                      0           292,500.00                         0.00                 325000              325000                    90.00               90.00   Radian Guaranty           BPMI                        25                                   9.6000            0.3750       0.0325    0.0000               0.4075
      2503223127   GLENDALE                                             31107    AZ                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     173,600.00                     173,600.00   First Lien                                      0           173,600.00                         0.00                      -          217,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.600             0.375       0.0325     0.000               0.4075
      2503223128   LANCASTER                                            93534    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     360,000.00                     360,000.00   First Lien                                      0           360,000.00                         0.00                      -          450,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.200             0.375       0.0325     0.000               0.4075
      2503223197   PERRIS                                               92571    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     477,850.00                     477,850.00   First Lien                                      0           477,850.00                         0.00                      -          503,000.00                    95.00               95.00   Radian Guaranty           BPMI                        30                                    6.125             0.375       0.0325     0.000               0.4075
      2503223270   PARAMOUNT                                            33077    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     392,000.00                     392,000.00   First Lien                                      0           392,000.00                         0.00                      -          490,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.625             0.375       0.0325     0.000               0.4075
      2503223290   GLENDALE                                             33271    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     750,000.00                     750,000.00   First Lien                                      0           750,000.00                         0.00                      -        1,082,000.00                    69.32               69.32   No MI                     NO MI                        0                                    7.100             0.375       0.0325     0.000               0.4075
      2503223402   APACHE JUNCTION                                      31097    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     206,500.00                     206,500.00   First Lien                                      0           206,500.00                         0.00                      -          237,000.00                    87.14               87.14   LPMI                      LPMI                        25                                    8.450             0.375       0.0325     1.340               1.7475
      2503223422   DEER PARK                                            40753    NY                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     403,750.00                     403,750.00   First Lien                                      0           403,750.00                         0.00                 425000              440000                    95.00               95.00   LPMI                      LPMI                        30                                   8.9900            0.3750       0.0325    1.3600               1.7675
      2503223427   SAN JOSE                                             34709    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     576,000.00                     576,000.00   First Lien                                      0           576,000.00                         0.00                      -          640,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    7.700             0.375       0.0325     0.890               1.2975
      2503223465   FAIRFIELD                                            94534    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                      -          475,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503223532   SCOTTSDALE                                           85250    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     399,200.00                     399,200.00   First Lien                                      0           499,000.00                    99,800.00                 499000              501000                    80.00              100.00   No MI                     NO MI                        0                                   8.3400            0.3750       0.0325    0.0000               0.4075
      2503223553   YORBA LINDA                                          92887    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     352,000.00                     352,000.00   First Lien                                      0           352,000.00                         0.00                      -          440,000.00                    80.00               80.00   No MI                     NO MI                        0                                    6.525             0.375       0.0325     0.000               0.4075
      2503223558   TREASURE ISLAND                                      12241    FL                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     212,500.00                     212,500.00   First Lien                                      0           212,500.00                         0.00                 250000              280000                    85.00               85.00   LPMI                      LPMI                        22                                   8.7500            0.3750       0.0325    0.6200               1.0275
      2503223569   TEMPE                                                85283    AZ                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     272,000.00                     272,000.00   First Lien                                      0           272,000.00                         0.00                      -          340,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.100             0.375       0.0325     0.000               0.4075
      2503223587   LOS ANGELES                                          90043    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     417,000.00                     417,000.00   First Lien                                      0           417,000.00                         0.00                      -          525,000.00                    79.43               79.43   No MI                     NO MI                        0                                    6.750             0.375       0.0325     0.000               0.4075
      2503223720   WHITTIER                                             33025    CA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     517,600.00                     517,600.00   First Lien                                      0           517,600.00                         0.00                 647000              665000                    80.00               80.00   No MI                     NO MI                        0                                   7.5000            0.3750       0.0325    0.0000               0.4075
      2503223847   SEATTLE                                              98178    WA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     356,250.00                     356,250.00   First Lien                                      0           356,250.00                         0.00                      -          375,000.00                    95.00               95.00   LPMI                      LPMI                        30                                    8.750             0.375       0.0325     1.190               1.5975
      2503223850   SARASOTA                                             34232    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     168,300.00                     168,300.00   First Lien                                      0           168,300.00                         0.00                 187000              232000                    90.00               90.00   LPMI                      LPMI                        25                                   8.5700            0.3750       0.0325    1.1900               1.5975
      2503223876   WOODBRIDGE                                           22193    VA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     357,000.00                     357,000.00   First Lien                                      0           357,000.00                         0.00                      -          420,000.00                    85.00               85.00   LPMI                      LPMI                        22                                    9.990             0.375       0.0325     0.740               1.1475
      2503223890   EL SEGUNDO                                           90245    CA                             20070601                 20370501   ARMS                    No                                              360                    360                          360                     468,000.00                     468,000.00   First Lien                                      0           468,000.00                         0.00                 585000              585000                    80.00               80.00   No MI                     NO MI                        0                                   6.6250            0.3750       0.0325    0.0000               0.4075
      2503223894   SPRINGFIELD                                          23956    MO                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     176,850.00                     176,850.00   First Lien                                      0           176,850.00                         0.00                 196500              196500                    90.00               90.00   LPMI                      LPMI                        25                                   9.8500            0.3750       0.0325    0.6200               1.0275
      2503223973   TOOELE                                               84074    UT                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     118,800.00                     118,800.00   First Lien                                      0           118,800.00                         0.00                 135900              132000                    90.00               90.00   PMI                       BPMI                        25                                   7.8750            0.3750       0.0325    0.0000               0.4075
      2503224073   EUREKA AREA                                          34822    CA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     256,500.00                     256,500.00   First Lien                                      0           256,500.00                         0.00                      -          285,000.00                    90.00               90.00   LPMI                      LPMI                        25                                   10.250             0.375       0.0325     0.690               1.0975
      2503224074   SEATTLE                                              35796    WA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     423,855.00                     423,855.00   First Lien                                      0           423,855.00                         0.00                 470950              473000                    90.00               90.00   LPMI                      LPMI                        25                                  10.5000            0.3750       0.0325    1.2400               1.6475
      2503224208   GLENDORA                                             91740    CA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     510,000.00                     510,000.00   First Lien                                      0           510,000.00                         0.00                      -          547,000.00                    93.24               93.24   LPMI                      LPMI                        30                                    7.500             0.375       0.0325     1.160               1.5675
      2503224250   CHESTERFIELD                                         23832    VA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     207,000.00                     207,000.00   First Lien                                      0           207,000.00                         0.00                      -          230,000.00                    90.00               90.00   LPMI                      LPMI                        25                                    9.100             0.375       0.0325     1.190               1.5975
      2503224264   PALMDALE                                             93551    CA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     380,000.00                     380,000.00   First Lien                                      0           380,000.00                         0.00                      -          400,000.00                    95.00               95.00   LPMI                      LPMI                        30                                    8.500             0.375       0.0325     1.160               1.5675
      2503224346   NORTH LAUDERDALE                                     33068    FL                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     255,000.00                     255,000.00   First Lien                                      0           255,000.00                         0.00                      -          300,000.00                    85.00               85.00   LPMI                      LPMI                        22                                    7.875             0.375       0.0325     0.850               1.2575
      2503224451   BONNEY LAKE                                          98391    WA                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     363,802.00                     363,802.00   First Lien                                      0           363,802.00                         0.00                 382950              390000                    95.00               95.00   LPMI                      LPMI                        30                                   7.5700            0.3750       0.0325    1.0800               1.4875
      2503224503   THORNTON                                             29280    CO                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     160,000.00                     160,000.00   First Lien                                      0           160,000.00                         0.00                      -          200,000.00                    80.00               80.00   No MI                     NO MI                        0                                    7.915             0.375       0.0325     0.000               0.4075
      2503224705   CENTERTON                                            26499    AR                             20070701                 20370601   ARMS                    No                                              360                    360                          360                     367,110.00                     367,110.00   First Lien                                      0           367,110.00                         0.00                 407900              415000                    90.00               90.00   LPMI                      LPMI                        25                                   9.6900            0.3750       0.0325    0.7700               1.1775

         LOAN_ID                   CURRENT_NET_COUPON           PAYMENT   PREPAY           PP_DESC                    BACK_RATIO   PRODUCT                             IO_PERIOD    INDEX                  RATE_FREQ         PAY_FREQ                  NEXT_RATE_ADJ_DATE1              NEXT_PAY_ADJ_DATE1       ROLL        MARGIN           INIT_RATE_CAP            PER_RATE_CAP            GROSS_LIFE_CAP          MAX_RATE         MIN_RATE          FICO_SCORE   DOCTYPE                                 LOAN_PURP                    OCCTYPE                    PROPTYPE
      1103143549                                5.843          1,458.33   Yes              3YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 730   SISA                                    Cash Out Refinance           Owner Occupied             PUD
      1103445953                                6.218          4,416.67   No               NO                              41.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 704   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103541312                                5.593          1,067.50   Yes              1YP                             35.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 730   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103581621                               5.5925              1960   Yes              3YP                             41.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 738   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103605926                              13.0925            369.68   No               NO                              44.68   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.625            0.000                 711   Stated                                  Purchase                     Investor                   SFR
      1103611487                              12.3425            522.68   No               NO                              41.62   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 693   Stated                                  Purchase                     Investor                   D-PUDS
      1103611552                               6.3425           2603.81   No               NO                              43.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 653   Stated                                  Purchase                     Owner Occupied             Condominium
      1103612837                               6.4675           1303.39   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 697   Express No Doc                          Purchase                     Owner Occupied             D-PUDS
      1103612902                               8.0925           1128.77   Yes              2YP                             39.91   5/6 LIBOR                                        LIBOR                          6                6                             20111201                        20120101         56         3.000                   3.000                   1.000                     6.000            14.500            3.000                 704   Stated                                  Purchase                     Investor                   SFR
      1103613763                               6.5925           1331.17   Yes              2YP                              1.00   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            13.000            3.000                 768   Express No Doc Verified Assets          Purchase                     Owner Occupied             D-PUDS
      1103615320                              11.2175            1191.1   Yes              3YP                             40.58   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 682   Stated                                  Purchase                     Owner Occupied             SFR
      1103618814                               11.718            526.04   Yes              3YP                             39.99   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 644   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103620173                              11.4675            525.11   Yes              1YP                             28.73   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 757   Stated                                  Purchase                     Owner Occupied             SFR
      1103624061                              11.7175            558.01   No               NO                              40.42   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 706   Stated                                  Purchase                     Investor                   D-PUDS
      1103624733                              13.7175            790.58   No               NO                              41.39   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.250            0.000                 656   Stated                                  Purchase                     Investor                   SFR
      1103626197                               10.843            323.66   Yes              3YP                             37.10   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.375            0.000                 694   Full                                    Cash Out Refinance           Investor                   3-FAMILY
      1103627011                              12.1175            860.05   No               NO                              49.48   20YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.650            0.000                 729   Stated                                  Purchase                     Investor                   2-FAMILY
      1103632043                              11.8925             705.6   Yes              3YP                             42.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.425            0.000                 689   Stated                                  Purchase                     Investor                   HI-RISE
      1103632215                              11.8425            786.83   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 686   Express No Doc                          Purchase                     Owner Occupied             PUD
      1103632233                               11.093            307.45   No               NO                              48.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.625            0.000                 724   Full                                    Cash Out Refinance           Investor                   SFR
      1103632320                               13.393            436.21   Yes              1YP                             32.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.925            0.000                 652   Stated                                  Cash Out Refinance           Investor                   SFR
      1103632732                                7.968            764.63   No               NO                              28.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.375            3.000                 752   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      1103632897                                6.343          1,771.88   Yes              1YP                             26.42   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 732   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103633116                              12.3425            438.58   Yes              3YP                             41.72   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 636   Stated                                  Purchase                     Second Home                SFR
      1103633980                              13.0425             425.7   Yes              3YP                             45.48   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.575            0.000                 647   Stated                                  Purchase                     Investor                   2-FAMILY
      1103634228                              13.0675            482.79   No               NO                              49.14   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.600            0.000                 666   Stated                                  Purchase                     Investor                   D-PUDS
      1103634326                              13.8425            588.28   No               NO                              46.43   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.375            0.000                 643   Stated                                  Purchase                     Investor                   2-FAMILY
      1103634352                               11.018          1,222.38   Yes              3YP                             40.47   15YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.550            0.000                 687   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103635040                              11.8425           1127.37   Yes              1YP                             43.77   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 672   SISA                                    Purchase                     Owner Occupied             2-FAMILY
      1103635229                               8.7175            901.65   Yes              6MP                             41.32   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             9.250            0.000                 763   Stated                                  Purchase                     Owner Occupied             SFR
      1103635362                              12.0175             278.5   No               NO                              18.16   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.550            0.000                 704   Stated                                  Purchase                     Investor                   SFR
      1103635710                               13.343            751.99   No               NO                              40.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.875            0.000                 652   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103636278                              13.2675            395.15   No               NO                              33.59   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.800            0.000                 661   Stated                                  Purchase                     Investor                   D-PUDS
      1103636476                              12.2175           1087.24   No               NO                              25.38   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.750            0.000                 686   Stated                                  Purchase                     Investor                   PUD
      1103637015                              13.2175             524.3   Yes              1YP                             29.06   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.750            0.000                 643   Stated                                  Purchase                     Investor                   SFR
      1103637096                                6.593          2,146.67   No               NO                              44.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            7.000                 686   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103638302                              13.4425            768.89   No               NO                              30.14   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.975            0.000                 661   Stated                                  Purchase                     Investor                   2-FAMILY
      1103638697                              13.8425            628.57   No               NO                              47.49   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.375            0.000                 658   Stated                                  Purchase                     Investor                   Condominium
      1103638853                              10.9675            396.12   No               NO                              40.33   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.500            0.000                 712   Stated                                  Purchase                     Investor                   PUD
      1103638909                              13.0925            298.05   No               NO                              30.40   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.625            0.000                 654   Full                                    Purchase                     Investor                   SFR
      1103638943                              12.7175           1195.21   Yes              1YP                             32.38   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.250            0.000                 682   Stated                                  Purchase                     Investor                   Condominium
      1103638971                                7.543          3,067.18   Yes              2YP                             46.74   2/6 LIBOR                                        LIBOR                          6                6                             20090101                        20090201         21         6.550                   3.000                   1.000                     6.000            13.950            7.950                 658   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103639013                               12.193          1,538.17   Yes              1YP                             42.03   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.725            0.000                 685   Stated                                  Cash Out Refinance           Investor                   SFR
      1103639110                               6.0925            666.25   Yes              2YP                             43.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120101                        20120201         57         3.000                   3.000                   1.000                     6.000            12.500            3.000                 732   SISA                                    Purchase                     Owner Occupied             Condominium
      1103639385                               11.343            876.34   Yes              3YP                             44.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.875            0.000                 687   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103639597                               11.093            254.96   No               NO                               0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.625            0.000                 646   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103639598                               12.458            660.49   No               NO                               0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 626   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      1103639786                               11.843          1,308.74   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 636   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Townhouse
      1103639789                              12.4575            574.82   No               NO                               0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 632   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103639790                              12.4575            705.26   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 621   Express Verified Assets                 Purchase                     Owner Occupied             Townhouse
      1103639791                              12.4575            972.77   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 627   Express Verified Assets                 Purchase                     Owner Occupied             Townhouse
      1103639792                              12.4575            486.38   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 643   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103639793                               11.468            346.64   No               NO                               0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 607   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103639848                               5.5925            620.62   Yes              3YP                             25.25   5/6 LIBOR IO                               60    LIBOR                          6                6                             20111201                        20120101         56         3.000                   3.000                   1.000                     6.000            12.000            6.000                 797   Stated                                  Purchase                     Investor                   SFR
      1103639907                              11.6425            833.69   Yes              3YP                             43.46   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.175            0.000                 686   Stated                                  Purchase                     Investor                   Condominium
      1103640641                              12.3675           1263.15   No               NO                              48.16   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.900            0.000                 701   Stated                                  Purchase                     Investor                   HI-RISE
      1103640736                               11.318          1,106.08   Yes              3YP                             34.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.850            0.000                 733   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103640941                              13.7175            783.05   No               NO                              30.63   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.250            0.000                 651   Stated                                  Purchase                     Investor                   SFR
      1103641203                                6.093          3,244.12   Yes              2YP                              1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 729   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103641208                                9.967            804.97   Yes              1YP                             28.94   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.500            0.000                 697   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      1103641222                               10.943          1,532.00   Yes              3YP                             47.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.475            0.000                 727   Stated                                  Cash Out Refinance           Investor                   SFR
      1103641481                              10.9675            633.79   Yes              3YP                             41.21   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.500            0.000                 669   Stated                                  Purchase                     Owner Occupied             SFR
      1103641496                               11.843          1,163.32   Yes              3YP                             43.31   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 692   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      1103641545                               11.443            451.75   Yes              3YP                             19.37   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.975            0.000                 666   Stated                                  Cash Out Refinance           Investor                   SFR
      1103641549                              12.3925            492.77   Yes              3YP                             48.83   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.925            0.000                 697   Stated                                  Purchase                     Investor                   SFR
      1103641582                                5.968          2,916.56   Yes              1YP                             41.62   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 688   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103641703                              11.5925            436.06   Yes              2YP                             48.09   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.125            0.000                 684   Stated                                  Purchase                     Investor                   SFR
      1103642086                               12.343          2,001.00   Yes              3YP                             44.36   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 675   Stated                                  Cash Out Refinance           Investor                   SFR
      1103642187                               11.543            400.83   Yes              1YP                             35.92   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.075            0.000                 732   Stated                                  Cash Out Refinance           Investor                   SFR
      1103642251                               11.343            692.71   No               NO                              49.96   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.875            0.000                 738   Stated                                  Cash Out Refinance           Investor                   SFR
      1103642335                               5.4675           2017.08   No               NO                              41.26   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         2.750                   3.000                   1.000                     6.000            11.875            2.750                 702   SISA                                    Purchase                     Owner Occupied             D-PUDS
      1103642362                              11.8925           1135.75   Yes              2YP                             44.95   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.425            0.000                 687   Stated                                  Purchase                     Investor                   SFR
      1103642496                               6.2175            745.95   No               NO                              22.23   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120101                        20120201         57         2.750                   6.000                   2.000                     6.000            12.625            2.750                 644   Stated                                  Purchase                     Owner Occupied             PUD
      1103643071                               11.968            576.32   Yes              1YP                             41.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 721   Stated                                  Cash Out Refinance           Investor                   PUD
      1103643089                              12.2675             407.2   No               NO                              46.07   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.800            0.000                 709   Stated                                  Purchase                     Investor                   SFR
      1103643097                                5.718          1,375.57   Yes              3YP                             39.60   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            12.125            2.750                 732   Stated                                  Cash Out Refinance           Investor                   SFR
      1103643276                                6.843          1,454.69   Yes              3YP                             39.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                   0   Stated                                  Cash Out Refinance           Second Home                D-PUDS
      1103643299                              11.4675           1018.33   No               NO                              47.87   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 712   Stated                                  Purchase                     Investor                   SFR
      1103643731                               5.2175           1546.88   No               NO                              41.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.000                   3.000                   1.000                     6.000            11.625            5.625                 781   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103643742                                5.468          1,640.10   Yes              1YP                             40.93   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100201                        20100301         34         2.750                   3.000                   1.000                     6.000            11.875            2.750                 786   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103644291                              11.2175             503.7   Yes              1YP                             44.18   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 668   Stated                                  Purchase                     Owner Occupied             SFR
      1103644308                              12.6175            880.37   Yes              1YP                             35.45   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.150            0.000                 681   Stated                                  Purchase                     Investor                   Condominium
      1103644382                                5.093          1,567.92   Yes              3YP                             54.36   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.375            0.000                 781   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103644392                                5.843          2,624.88   No               NO                              43.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 765   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103644400                              13.0675             533.4   Yes              1YP                             43.26   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.600            0.000                 657   Stated                                  Purchase                     Investor                   SFR
      1103644465                                6.718          3,325.00   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 647   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103644519                              11.9675            208.33   No               NO                              32.78   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 684   Stated                                  Purchase                     Investor                   SFR
      1103644634                                5.343          1,335.52   Yes              3YP                             29.96   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 758   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103644724                               12.718          1,215.84   No               NO                              38.14   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.250            0.000                 731   Stated                                  Cash Out Refinance           Investor                   SFR
      1103644816                              11.7175            605.16   No               NO                              33.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 706   Stated                                  Purchase                     Investor                   Condominium
      1103644823                              12.1925            698.31   No               NO                              25.68   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.725            0.000                 662   Stated                                  Purchase                     Investor                   2-FAMILY
      1103644852                               11.593            750.14   Yes              2YP                             48.13   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.125            0.000                 731   Stated                                  Cash Out Refinance           Investor                   SFR
      1103644855                               6.4675              2700   Yes              3YP                             37.30   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 695   Stated                                  Purchase                     Owner Occupied             SFR
      1103644918                               5.9675           2491.56   Yes              2YP                             45.02   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 731   Stated                                  Purchase                     Owner Occupied             SFR
      1103644939                              10.3425            603.45   Yes              2YP                             38.19   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.875            0.000                 748   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103645004                               9.7675           1010.95   Yes              2YP                             43.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.300            0.000                 788   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103645207                              11.8425           1436.18   Yes              2YP                             25.40   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 671   Stated                                  Purchase                     Second Home                HI-RISE
      1103645261                              12.3925            756.19   No               NO                              38.94   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.925            0.000                 686   Stated                                  Purchase                     Investor                   PUD
      1103645266                              13.8425           1396.81   No               NO                              46.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.375            0.000                 647   Stated                                  Purchase                     Investor                   Condominium
      1103645334                              13.2175            219.04   No               NO                               0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.750            0.000                 746   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103645336                              12.8425            567.61   No               NO                               0.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.375            0.000                 666   Express No Doc                          Purchase                     Owner Occupied             2-FAMILY
      1103645372                              12.2175            285.26   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.750            0.000                 644   Express Verified Assets                 Purchase                     Investor                   SFR
      1103645374                              12.4575            580.34   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 632   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103645375                               12.458            489.15   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 638   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103645525                                6.718          2,090.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         2.750                   6.000                   2.000                     6.000            13.125            2.750                 635   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103645552                              12.0925            872.34   Yes              2YP                             38.41   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.625            0.000                 689   Stated                                  Purchase                     Investor                   SFR
      1103645630                                9.842            832.97   No               NO                              27.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.375            0.000                 722   Stated                                  Cash Out Refinance           Investor                   SFR
      1103645647                              12.0925           1141.59   No               NO                              48.19   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.625            0.000                 675   Stated                                  Purchase                     Investor                   SFR
      1103645678                               11.968            504.81   Yes              3YP                             43.03   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 698   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103645687                               7.4675           3044.34   No               NO                              45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            13.875            2.750                 722   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      1103645821                               10.968          1,525.05   No               NO                              42.55   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.500            0.000                 694   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103645844                              11.7175             275.6   Yes              1YP                             36.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 697   Stated                                  Purchase                     Investor                   SFR
      1103645898                               13.468            272.52   No               NO                              38.66   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.000            0.000                 647   Stated                                  Cash Out Refinance           Investor                   SFR
      1103645975                                4.968          1,881.25   Yes              3YP                             43.16   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.250            0.000                 780   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103646020                               11.968            832.46   No               NO                              44.10   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 684   Stated                                  Cash Out Refinance           Investor                   SFR
      1103646029                                4.968          1,080.38   Yes              3YP                             38.49   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100201                        20100301         34         2.750                   3.000                   1.000                     6.000            11.375            2.750                 727   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103646126                               12.458          1,243.60   Yes              2YP                              0.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 629   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103646143                               11.893            315.25   No               NO                              35.11   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.425            0.000                 707   Stated                                  Cash Out Refinance           Investor                   SFR
      1103646254                              11.9675            567.78   Yes              2YP                             37.93   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 661   Stated                                  Purchase                     Second Home                Condominium
      1103646277                               7.9675              3015   No               NO                              42.56   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.375            3.000                 651   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103646283                              12.9675           2221.88   No               NO                              41.83   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.500            0.000                 717   Stated                                  Purchase                     Investor                   HI-RISE
      1103646302                                6.093          3,905.43   No               NO                              43.67   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 715   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103646348                              11.7175            272.98   Yes              1YP                             34.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 697   Stated                                  Purchase                     Investor                   SFR
      1103646463                              10.7175            330.23   Yes              3YP                             31.81   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.250            0.000                 674   Stated                                  Purchase                     Owner Occupied             SFR
      1103646487                                6.468          3,678.80   Yes              1YP                             42.73   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103646493                               9.8825           1592.25   No               NO                              44.12   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            17.750            4.375                 627   SISA                                    Purchase                     Investor                   SFR
      1103646521                              13.3425            609.82   No               NO                              25.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.875            0.000                 669   Stated                                  Purchase                     Investor                   PUD
      1103646623                              13.2175            256.32   No               NO                              35.37   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.750            0.000                 646   Stated                                  Purchase                     Investor                   Condominium
      1103646782                                5.343          3,952.17   Yes              1YP                             43.97   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            11.750            2.750                 684   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103646816                               12.593            552.41   Yes              3YP                             43.47   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.125            0.000                 677   Stated                                  Cash Out Refinance           Investor                   SFR
      1103646838                               8.3425            570.05   No               NO                              43.60   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         3.000                   3.000                   1.000                     6.000            14.750            8.750                 664   Stated                                  Purchase                     Owner Occupied             Condominium
      1103646976                              13.0925           1304.86   Yes              6MP                             34.35   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.625            0.000                 678   Stated                                  Purchase                     Investor                   PUD
      1103647092                                6.593          3,319.13   Yes              2YP                             48.97   2/6 LIBOR                                        LIBOR                          6                6                             20090401                        20090501         24         6.950                   3.000                   1.000                     6.000            13.950            6.950                 691   SISA                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103647099                               11.893            721.78   No               NO                              41.73   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.425            0.000                 720   Stated                                  Cash Out Refinance           Investor                   SFR
      1103647132                              12.3425            547.95   Yes              2YP                             44.75   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 688   Stated                                  Purchase                     Investor                   Condominium
      1103647189                                6.968          3,441.67   Yes              3YP                             36.91   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            13.375            2.750                 676   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103647199                               8.5825           1911.07   Yes              2YP                             41.33   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090201                        20090301         22         7.150                   3.000                   1.000                     6.000            14.990            8.990                 652   Stated                                  Purchase                     Owner Occupied             Condominium
      1103647350                               7.5925           6666.67   Yes              1YP                             33.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            14.000            2.750                 671   Stated                                  Purchase                     Owner Occupied             SFR
      1103647408                               9.9675           1134.28   Yes              3YP                             46.43   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.500            0.000                 714   Stated                                  Purchase                     Owner Occupied             Condominium
      1103647440                                5.593          1,725.00   No               NO                              39.15   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.750                   3.000                   1.000                     6.000            12.000            2.750                 744   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103647484                              12.2675            398.07   No               NO                              39.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.800            0.000                 704   Stated                                  Purchase                     Investor                   Condominium
      1103647491                              12.3425           3738.85   Yes              1YP                             33.95   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 671   Stated                                  Purchase                     Owner Occupied             SFR
      1103647553                               11.693            308.56   No               NO                              45.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.225            0.000                 651   Stated                                  Cash Out Refinance           Owner Occupied             3-FAMILY
      1103647673                                7.943          3,878.19   Yes              3YP                             49.99   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120201                        20120301         58         6.550                   3.000                   1.000                     6.000            15.750            9.750                 618   Stated                                  Cash Out Refinance           Second Home                SFR
      1103647703                                6.468          1,530.00   No               NO                              45.30   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 705   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103647745                                5.468          2,287.94   Yes              3YP                             38.88   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            11.875            2.750                 717   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103648022                                5.093          4,020.65   Yes              3YP                             47.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 717   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103648053                              11.8425            486.49   Yes              2YP                             42.93   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 661   Stated                                  Purchase                     Investor                   SFR
      1103648126                               5.3425            827.62   Yes              3YP                             36.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            11.750            2.750                 756   Stated                                  Purchase                     Owner Occupied             SFR
      1103648158                                7.218          1,041.03   No               NO                              47.90   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120201                        20120301         58         3.000                   3.000                   1.000                     6.000            13.625            3.000                 615   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103648203                               5.3425           3546.04   Yes              3YP                             29.57   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 803   Full                                    Purchase                     Second Home                D-PUDS
      1103648241                               12.468            995.58   Yes              6MP                             37.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.000            0.000                 654   Stated                                  Cash Out Refinance           Investor                   SFR
      1103648294                              11.2175            317.96   Yes              3YP                             18.93   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 690   Stated                                  Purchase                     Investor                   SFR
      1103648355                               13.898            764.92   No               NO                              43.45   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.430            0.000                 667   Stated                                  Cash Out Refinance           Investor                   SFR
      1103648365                               7.4675            3307.5   No               NO                              48.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.125                   3.000                   1.000                     6.000            13.875            4.125                 736   Stated                                  Purchase                     Investor                   SFR
      1103648406                               5.5925           3498.95   Yes              3YP                             38.63   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 760   Stated                                  Purchase                     Owner Occupied             SFR
      1103648432                                8.503          1,411.36   Yes              3YP                             47.83   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.875                   3.000                   1.000                     6.000            16.250            4.250                 649   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103648450                                5.343          3,707.23   No               NO                              44.15   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 704   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103648573                               11.218          1,638.27   Yes              6MP                             40.80   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 648   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103648735                               7.4925           4292.33   Yes              1YP                             40.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.900            3.000                 708   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103648746                                5.718          1,988.58   No               NO                              43.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            12.125            2.750                 739   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103648767                                5.593          4,406.25   No               NO                              22.21   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 776   Full                                    Rate/Term Refinance          Second Home                SFR
      1103648834                               5.3425           2515.63   Yes              1YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 776   Express Verified Assets                 Purchase                     Investor                   SFR
      1103648907                                6.343            708.75   Yes              3YP                             32.01   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.750            2.750                 783   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103648931                               6.5925           1864.33   Yes              1YP                             44.48   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            3.000                 701   Stated                                  Purchase                     Owner Occupied             SFR
      1103649078                               5.7175            1396.5   No               NO                              27.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            12.125            2.750                 791   SISA                                    Purchase                     Owner Occupied             Condominium
      1103649142                              11.8425            1414.5   Yes              1YP                             35.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 697   Stated                                  Purchase                     Investor                   SFR
      1103649164                                5.593          3,407.26   No               NO                              43.66   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 737   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649173                                5.468            659.44   Yes              3YP                             16.91   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 806   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      1103649192                                5.468          3,154.39   Yes              3YP                             33.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 768   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103649198                                5.968          2,549.07   Yes              3YP                             32.68   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 711   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649226                               5.4675              1175   Yes              3YP                             40.48   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140201                        20140301         82         2.750                   3.000                   1.000                     6.000            11.875            2.750                 770   Stated                                  Purchase                     Second Home                D-PUDS
      1103649241                                5.468          3,536.45   Yes              3YP                             39.96   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 783   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649244                              11.7175            392.97   Yes              3YP                             41.81   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 662   Stated                                  Purchase                     Investor                   SFR
      1103649274                               6.8425           1060.61   Yes              1YP                             44.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.250            3.000                 669   Stated                                  Purchase                     Second Home                Condominium
      1103649275                                5.468            664.85   Yes              1YP                             40.88   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.500                   3.000                   1.000                     6.000            11.875            2.500                 776   Full                                    Cash Out Refinance           Investor                   SFR
      1103649342                                6.093          2,860.00   Yes              3YP                             46.37   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100201                        20100301         34         2.750                   3.000                   1.000                     6.000            12.500            2.750                 764   SISA                                    Rate/Term Refinance          Investor                   3-FAMILY
      1103649373                               6.3425              1233   Yes              3YP                             37.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 746   SISA                                    Purchase                     Owner Occupied             SFR
      1103649380                               5.4675           1288.58   Yes              2YP                             40.47   2/6 LIBOR IO                               60    LIBOR                          6                6                             20090301                        20090401         23         3.000                   3.000                   1.000                     6.000            11.875            5.875                 695   Stated                                  Purchase                     Investor                   SFR
      1103649478                                6.968          1,696.25   Yes              1YP                             27.79   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.375            7.375                 667   Stated                                  Cash Out Refinance           Investor                   SFR
      1103649499                                5.718            959.28   Yes              3YP                             44.49   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 801   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649521                                7.093          1,781.25   No               NO                              49.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 653   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103649550                               8.3775           1740.47   Yes              3YP                             39.02   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         6.000                   3.000                   1.000                     6.000            15.875            6.000                 652   Full                                    Purchase                     Investor                   4-FAMILY
      1103649552                                5.468          1,416.73   No               NO                              38.59   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            11.875            2.500                 730   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649572                                6.218          2,253.33   Yes              3YP                             44.93   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 691   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103649594                              11.5925            654.09   Yes              2YP                             44.95   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.125            0.000                 668   Stated                                  Purchase                     Second Home                HI-RISE
      1103649602                              11.8175            1161.2   No               NO                              38.40   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.350            0.000                 720   Stated                                  Purchase                     Investor                   Condominium
      1103649607                                6.468          1,976.56   Yes              3YP                             28.57   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 648   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103649618                                4.968            850.39   Yes              3YP                             29.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.250            0.000                 798   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103649626                                7.343          3,861.46   No               NO                              44.95   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            13.750            2.750                 618   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103649780                               8.0925            956.25   No               NO                              26.22   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.500            3.000                 667   Stated                                  Purchase                     Investor                   SFR
      1103649788                                5.593          4,489.77   Yes              3YP                             48.63   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 801   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103649828                                6.528          2,110.13   No               NO                              40.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120101                        20120201         57         2.750                   6.000                   2.000                     6.000            14.275            8.275                 646   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103649838                               6.2175           2870.83   Yes              3YP                             44.45   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         2.750                   3.000                   1.000                     6.000            12.625            2.750                 676   Stated                                  Purchase                     Owner Occupied             SFR
      1103649844                               5.7175           2164.17   Yes              3YP                             41.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 651   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103649879                                5.968          2,586.01   Yes              3YP                             41.71   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 795   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103649882                              10.1175            1782.5   Yes              3YP                             44.37   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.650            0.000                 733   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103649902                                5.843          2,000.00   No               NO                              35.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.250            2.750                 806   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103649925                                6.093          1,031.88   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.500            2.500                 660   Express No Doc                          Cash Out Refinance           Owner Occupied             HI-RISE
      1103649983                               6.4675           4292.58   No               NO                              49.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 709   Stated                                  Purchase                     Investor                   SFR
      1103650057                                5.468          3,116.28   Yes              3YP                             36.92   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 781   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103650090                                5.468          1,167.15   Yes              3YP                             38.43   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 727   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103650126                                6.218            897.24   Yes              2YP                              1.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 671   Express Non-Verified Assets             Cash Out Refinance           Investor                   SFR
      1103650169                                5.968          1,041.67   Yes              3YP                             41.43   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 777   Stated                                  Cash Out Refinance           Investor                   SFR
      1103650190                                5.593            800.00   Yes              3YP                             44.03   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.000            3.000                 765   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103650205                               10.968            693.20   Yes              1YP                             40.25   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.500            0.000                 764   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103650238                               5.9675              1275   Yes              3YP                             43.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.375            2.500                 686   SISA                                    Purchase                     Owner Occupied             Condominium
      1103650275                               7.0925           1394.37   No               NO                              33.51   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 697   Stated                                  Purchase                     Owner Occupied             Condominium
      1103650336                                5.343          3,453.94   Yes              3YP                             40.65   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 760   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103650353                                5.843          2,333.33   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            12.250            2.750                 738   Express Non-Verified Assets             Rate/Term Refinance          Investor                   SFR
      1103650439                                5.592          1,439.76   Yes              3YP                             35.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.999            3.000                 652   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103650475                                6.468          3,145.70   Yes              3YP                             30.81   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 638   Stated                                  Cash Out Refinance           Owner Occupied             3-FAMILY
      1103650515                                5.843          1,770.83   Yes              1YP                             48.58   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 706   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103650588                                5.093          1,791.91   Yes              3YP                             39.87   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.375            0.000                 722   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103650621                                5.468          4,606.98   Yes              3YP                             24.51   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 690   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103650646                               5.5825           3976.75   Yes              2YP                              1.00   3/6 LIBOR                                        LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.990            3.000                 716   Express Verified Assets                 Purchase                     Second Home                Condominium
      1103650664                                6.218          1,915.17   Yes              3YP                             34.89   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 653   SISA                                    Rate/Term Refinance          Owner Occupied             PUD
      1103650704                               8.4675           3076.67   Yes              6MP                             41.54   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         4.500                   3.000                   1.000                     6.000            14.875            4.500                 651   Stated                                  Purchase                     Owner Occupied             SFR
      1103650762                               5.9675           2018.75   Yes              3YP                             44.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 722   SISA                                    Purchase                     Owner Occupied             SFR
      1103650770                                5.718          1,233.17   Yes              3YP                             24.54   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 699   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103650880                                5.468          2,224.18   Yes              3YP                             44.45   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 683   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103650906                                5.968            892.79   Yes              3YP                             16.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 815   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103650985                                6.468            646.88   Yes              1YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 707   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      1103651112                                6.343          2,775.75   No               NO                              44.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 684   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103651126                              12.4675            291.48   No               NO                              30.80   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.000            0.000                 698   Stated                                  Purchase                     Investor                   Condominium
      1103651168                               6.5925           1060.28   No               NO                              49.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            13.000            2.750                 673   Full                                    Purchase                     Investor                   SFR
      1103651172                              12.0925            452.33   No               NO                              40.14   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.625            0.000                 650   Stated                                  Purchase                     Investor                   SFR
      1103651202                                6.343          2,756.25   No               NO                              29.13   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 731   SISA                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103651240                               7.5825           1189.18   Yes              1YP                             44.30   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.990            3.000                 706   SISA                                    Purchase                     Owner Occupied             Condominium
      1103651250                                5.968          1,231.43   Yes              2YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 755   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103651275                                5.468            770.32   Yes              3YP                             15.32   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 808   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103651288                                5.968          2,146.25   Yes              3YP                             49.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 622   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103651320                                5.693          5,023.87   Yes              3YP                             30.05   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.975            0.000                 749   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103651337                                5.718          2,000.00   No               NO                              15.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 809   Full                                    Cash Out Refinance           Second Home                SFR
      1103651396                                6.593          2,463.54   Yes              3YP                             41.92   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 642   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103651416                               4.9675           1545.62   No               NO                              26.24   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.250            0.000                 808   Full                                    Purchase                     Owner Occupied             PUD
      1103651419                               5.3425           2287.51   No               NO                              35.33   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         5.750                   3.000                   1.000                     6.000            11.750            5.750                 792   Full                                    Purchase                     Owner Occupied             HI-RISE
      1103651616                                5.093          2,566.67   No               NO                              40.00   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.500            3.000                 789   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103651644                               5.7175           1551.26   Yes              3YP                             47.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 698   Stated                                  Purchase                     Owner Occupied             SFR
      1103651658                                5.718            689.48   Yes              2YP                             47.43   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 716   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103651685                                6.218          1,040.00   Yes              3YP                             20.87   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 802   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103651687                               5.8425            1062.5   Yes              3YP                             45.15   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         5.125                   3.000                   1.000                     6.000            12.250            5.125                 723   Stated                                  Purchase                     Second Home                SFR
      1103651721                               6.9675            1445.5   No               NO                              34.38   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.375            7.375                 683   Stated                                  Purchase                     Investor                   PUD
      1103651752                                5.718          1,888.58   Yes              3YP                             17.53   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 817   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103651764                                5.843            750.00   No               NO                              30.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 641   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103651810                                5.968          3,472.65   No               NO                              17.15   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 771   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103651837                                5.968            963.54   No               NO                              45.03   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 730   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103651838                                6.343          1,778.81   Yes              1YP                             28.90   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 707   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103651856                                5.968          2,390.63   No               NO                              44.19   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         2.750                   3.000                   1.000                     6.000            12.375            2.750                 732   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103651876                                5.718          1,605.00   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 727   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      1103651973                                6.218          1,130.39   No               NO                              35.71   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100101                        20100201         33         2.750                   3.000                   1.000                     6.000            12.625            2.750                 753   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103652059                               6.0925              2379   Yes              3YP                             49.14   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.500            3.500                 728   Stated                                  Purchase                     Owner Occupied             SFR
      1103652088                                5.468          1,331.67   Yes              3YP                             43.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 760   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103652103                                5.468          2,439.33   No               NO                              29.77   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 779   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103652104                              12.0925            370.48   Yes              2YP                             36.33   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.625            0.000                 673   Stated                                  Purchase                     Owner Occupied             Condominium
      1103652212                                6.417          2,258.24   Yes              3YP                             43.58   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.699            0.000                 685   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103652218                               8.2175              1495   No               NO                              47.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.625            8.625                 691   Stated                                  Purchase                     Investor                   Condominium
      1103652262                                6.343          1,945.54   Yes              1YP                             41.81   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 684   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103652293                                5.968          1,001.41   Yes              1YP                             39.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 654   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103652316                               5.9675              3060   Yes              1YP                             42.70   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.750                   3.000                   1.000                     6.000            12.375            2.750                 685   Stated                                  Purchase                     Owner Occupied             SFR
      1103652329                                6.252          2,214.12   Yes              2YP                             44.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.659            3.000                 628   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103652333                                6.468          1,342.92   Yes              1YP                             47.80   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.250                   3.000                   1.000                     6.000            12.875            3.250                 672   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103652335                               5.5925           1743.56   No               NO                              26.17   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 723   Full                                    Purchase                     Owner Occupied             Condominium
      1103652343                               6.7175            3296.5   Yes              3YP                             47.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 779   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      1103652351                                5.813          2,094.07   No               NO                              35.36   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.220            3.000                 744   Full                                    Rate/Term Refinance          Investor                   Condominium
      1103652363                                5.968          1,035.94   Yes              3YP                             31.78   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.375            3.000                 679   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103652373                               6.4675           1168.75   Yes              3YP                             44.01   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 676   Stated                                  Purchase                     Owner Occupied             Condominium
      1103652452                               6.7175           2216.67   Yes              1YP                             42.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 630   Stated                                  Purchase                     Owner Occupied             SFR
      1103652458                                5.343          4,785.30   Yes              2YP                             34.15   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 730   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103652492                                5.593          1,374.00   No               NO                              26.79   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 717   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103652510                               11.968          1,035.24   No               NO                              39.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 705   Stated                                  Cash Out Refinance           Investor                   SFR
      1103652537                                5.593          2,496.88   Yes              1YP                             35.42   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 704   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103652548                                6.968          2,251.18   No               NO                               1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 666   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      1103652549                                6.593          1,833.33   Yes              2YP                             38.58   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 653   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103652552                               6.2175            851.02   Yes              3YP                             44.95   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 668   Stated                                  Purchase                     Investor                   SFR
      1103652565                               6.3425              1440   Yes              2YP                             46.39   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.750            2.500                 690   Stated                                  Purchase                     Investor                   Condominium
      1103652605                                5.343          1,157.67   Yes              3YP                             45.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 641   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103652607                                6.343            712.97   No               NO                              46.79   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.750                   3.000                   1.000                     6.000            12.750            2.750                 751   Full                                    Cash Out Refinance           Investor                   Condominium
      1103652612                                6.218          3,511.25   Yes              1YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.625            3.000                 723   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103652631                               6.8425           2924.17   Yes              2YP                             48.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.250            3.000                 682   Stated                                  Purchase                     Owner Occupied             SFR
      1103652634                                6.468            963.00   Yes              3YP                              1.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 711   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103652653                                6.218          2,692.61   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 760   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             2-FAMILY
      1103652662                                5.918          2,480.00   Yes              1YP                             37.40   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.200            0.000                 802   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      1103652674                                5.843          3,402.62   Yes              3YP                             31.96   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 685   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103652697                                6.218          1,210.17   Yes              1YP                             33.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 655   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103652700                                5.593          2,000.00   Yes              3YP                             40.59   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.000            3.000                 726   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103652713                               5.3425           1686.67   No               NO                              44.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 770   Full                                    Purchase                     Owner Occupied             SFR
      1103652729                                6.218          1,034.58   Yes              3YP                             33.54   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 622   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      1103652737                                6.093          3,697.60   Yes              1YP                              0.00   7/6 LIBOR                                        LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.500            3.000                 685   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103652754                               8.4675           3605.47   Yes              3YP                             46.98   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.875            3.000                 695   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103652758                               6.9675            497.81   Yes              1YP                             41.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            13.375            2.500                 692   Stated                                  Purchase                     Investor                   Condominium
      1103652771                                6.218          2,788.02   Yes              3YP                             24.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 766   SISA                                    Cash Out Refinance           Investor                   2-FAMILY
      1103652779                                5.968          2,734.38   No               NO                              35.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 780   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103652840                                5.718          2,352.00   No               NO                              26.40   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 773   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103652841                                5.218          2,343.75   Yes              2YP                             41.60   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.625            3.000                 772   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103652847                                5.968          2,310.94   Yes              3YP                             44.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 655   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103652867                               7.0925            922.61   No               NO                              32.53   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 730   Stated                                  Purchase                     Investor                   SFR
      1103652876                                5.593          4,375.00   Yes              3YP                             27.97   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.000            3.000                 772   Stated                                  Rate/Term Refinance          Second Home                Condominium
      1103652929                               7.0925            615.31   Yes              3YP                             32.43   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 640   Full                                    Purchase                     Owner Occupied             SFR
      1103652986                                6.093          1,885.94   No               NO                              43.48   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 768   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103653022                               5.5925              1505   Yes              2YP                             36.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 732   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103653039                               5.9675           1859.38   No               NO                              38.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.375            2.750                 813   Full                                    Purchase                     Investor                   SFR
      1103653048                               5.9675              3910   No               NO                              29.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 745   Full                                    Purchase                     Second Home                D-PUDS
      1103653060                                5.843          2,927.08   Yes              3YP                             42.06   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.250            3.000                 766   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653068                                5.093          2,887.50   No               NO                              38.65   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            11.500            2.750                 719   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103653073                               6.2175           1678.33   Yes              1YP                             26.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 704   Stated                                  Purchase                     Investor                   SFR
      1103653093                                5.343          2,357.50   Yes              3YP                             23.37   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.750                   3.000                   1.000                     6.000            11.750            2.750                 714   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653099                                5.718          1,082.08   No               NO                              16.54   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.125            3.000                 804   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      1103653115                                5.718          1,475.10   Yes              3YP                             42.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 801   Stated                                  Rate/Term Refinance          Second Home                HI-RISE
      1103653161                                6.093          1,296.38   Yes              3YP                             38.80   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 673   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653165                                5.843          2,343.75   No               NO                              44.03   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.250            2.750                 701   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653172                                5.718          1,798.65   Yes              1YP                             45.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 713   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653191                                5.843          3,508.95   Yes              3YP                             37.61   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 774   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103653215                                5.468          3,321.64   Yes              3YP                             43.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 777   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103653297                               5.5825           1038.27   Yes              3YP                             31.16   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.990            3.000                 755   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103653310                                6.343          2,302.19   No               NO                              35.52   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 726   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653355                                5.843          2,327.41   No               NO                              30.47   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 729   Stated                                  Rate/Term Refinance          Investor                   HI-RISE
      1103653358                               8.0925           4249.43   Yes              3YP                             43.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.500            3.000                 755   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      1103653380                                5.843          1,029.90   No               NO                              17.17   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 780   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103653387                                5.843          1,750.00   Yes              3YP                             35.86   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 694   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103653393                               7.7025           1085.76   No               NO                              42.41   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.125                   3.000                   1.000                     6.000            15.300            9.300                 653   Stated                                  Purchase                     Investor                   SFR
      1103653401                               5.9675           1788.98   No               NO                              41.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 699   Stated                                  Purchase                     Investor                   SFR
      1103653418                                6.093            626.71   Yes              1YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 797   Express Non-Verified Assets             Cash Out Refinance           Investor                   Condominium
      1103653446                                5.273          2,692.08   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.750                   3.000                   1.000                     6.000            12.500            3.750                 685   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      1103653448                                5.593          3,708.75   No               NO                              37.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 793   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103653455                                5.968          1,847.69   Yes              3YP                             47.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.375            2.500                 771   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103653464                                6.093          3,450.42   Yes              3YP                             37.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 780   Stated                                  Rate/Term Refinance          Owner Occupied             3-FAMILY
      1103653469                                6.093          2,588.43   Yes              3YP                             42.59   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 777   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653506                               6.2175           1391.21   Yes              3YP                             48.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 641   Stated                                  Purchase                     Owner Occupied             SFR
      1103653553                                5.093          1,663.75   No               NO                              31.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.500            3.000                 803   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103653572                               7.0925              1075   No               NO                              41.76   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.500            3.000                 721   Stated                                  Purchase                     Owner Occupied             SFR
      1103653577                                5.593          1,415.00   No               NO                              40.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 797   SISA                                    Rate/Term Refinance          Investor                   SFR
      1103653599                               6.5925           3153.26   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 767   Express Verified Assets                 Purchase                     Investor                   SFR
      1103653605                                5.468          2,276.56   No               NO                              22.73   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 782   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103653612                                5.968          2,295.00   Yes              2YP                             44.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 734   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103653659                               6.4675           2589.58   No               NO                              44.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 740   Stated                                  Purchase                     Investor                   Condominium
      1103653671                                6.063          1,827.78   Yes              2YP                             40.69   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.470            3.000                 776   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103653689                                6.093            687.92   Yes              6MP                             29.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 686   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103653742                                6.218          2,040.67   No               NO                              38.00   7/6 LIBOR                                        LIBOR                          6                6                             20140301                        20140401         83         2.500                   3.000                   1.000                     6.000            12.625            2.500                 709   Express No Doc                          Rate/Term Refinance          Owner Occupied             PUD
      1103653785                               6.3425            909.66   Yes              1YP                             43.92   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 706   Stated                                  Purchase                     Investor                   PUD
      1103653804                               5.3425           2684.44   No               NO                              41.05   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 801   Full                                    Purchase                     Owner Occupied             Condominium
      1103653810                                5.968          1,394.53   Yes              3YP                             40.11   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.375            3.000                 645   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      1103653816                                6.218          2,097.92   Yes              3YP                             43.69   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.625            2.750                 651   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103653861                               5.4675           1298.83   No               NO                              28.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            11.875            2.500                 752   Full                                    Purchase                     Investor                   Condominium
      1103653863                                5.593          4,259.07   Yes              3YP                             44.79   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 718   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103653888                                7.718          1,692.89   No               NO                              33.03   7/6 LIBOR                                        LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            14.125            3.000                 694   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103653894                                5.718          2,518.11   Yes              3YP                             29.08   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 767   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103653897                               6.3425           4162.02   No               NO                              42.82   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 710   Full                                    Purchase                     Owner Occupied             SFR
      1103653913                                7.093            765.63   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 637   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103653929                               7.3425              1550   Yes              3YP                             29.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.500                 682   Stated                                  Purchase                     Investor                   D-PUDS
      1103653934                               5.2175           2231.25   Yes              3YP                             45.20   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 716   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103653953                               6.3525           1171.39   Yes              3YP                             31.77   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            13.590            4.000                 750   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103653975                               9.2525           2898.46   Yes              2YP                              1.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            16.750            3.875                 666   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103653997                                5.468          1,762.50   Yes              3YP                             41.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 697   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      1103654006                                5.718          4,307.92   Yes              1YP                             47.03   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.500                   3.000                   1.000                     6.000            12.125            3.500                 672   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654026                               6.3425           1956.79   Yes              3YP                             44.32   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 762   SISA                                    Purchase                     Owner Occupied             SFR
      1103654045                               6.3425              2700   Yes              1YP                             46.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 682   Stated                                  Purchase                     Owner Occupied             Condominium
      1103654046                                6.093            735.85   Yes              1YP                             42.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 709   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103654056                                5.843          2,283.85   No               NO                              50.36   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 816   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103654058                                6.573          1,572.26   Yes              3YP                             45.19   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.980            3.000                 692   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654067                               7.3425            808.91   Yes              3YP                             42.59   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.750            7.750                 669   Stated                                  Purchase                     Investor                   2-FAMILY
      1103654075                                7.093          2,250.00   Yes              6MP                             49.75   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.500            3.000                 675   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654097                                5.593          3,750.00   Yes              3YP                             34.84   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         2.750                   3.000                   1.000                     6.000            12.000            2.750                 711   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654102                                6.218          3,064.06   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 639   Express Verified Assets                 Rate/Term Refinance          Investor                   D-PUDS
      1103654122                               5.8425              3125   Yes              3YP                             15.26   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 689   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103654134                                5.968          1,328.13   Yes              1YP                             49.77   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.375            2.500                 639   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654137                               5.3425            1782.5   Yes              3YP                             44.90   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 700   Stated                                  Purchase                     Owner Occupied             Condominium
      1103654139                                5.843          1,990.63   Yes              1YP                             38.96   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 772   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654145                                5.093          1,329.17   Yes              3YP                             25.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 769   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654154                                4.968          2,302.69   Yes              3YP                             31.42   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.250            0.000                 759   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103654164                                5.468          2,576.00   Yes              3YP                             41.28   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 726   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654170                               7.0425           2632.33   Yes              3YP                             42.45   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.450            3.000                 699   Stated                                  Purchase                     Owner Occupied             SFR
      1103654175                                6.583          1,284.41   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.990            6.990                 668   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103654179                               5.3425           1643.54   No               NO                              49.01   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.750            3.000                 700   SISA                                    Purchase                     Owner Occupied             SFR
      1103654181                                5.468          1,282.71   No               NO                              32.00   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.875            3.000                 715   Full                                    Cash Out Refinance           Investor                   SFR
      1103654186                                5.393          2,281.33   Yes              2YP                             30.14   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.800            3.000                 706   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654188                                6.343          2,896.88   Yes              3YP                             40.03   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.750            2.500                 679   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654193                                5.343          1,359.88   Yes              1YP                             25.79   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 717   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654194                                5.843          2,276.04   Yes              3YP                             41.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 720   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654232                                5.843          1,215.22   Yes              3YP                             37.25   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 746   Full                                    Cash Out Refinance           Investor                   2-FAMILY
      1103654251                               7.3425           1710.79   No               NO                              46.61   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.750            3.000                 643   Stated                                  Purchase                     Owner Occupied             SFR
      1103654288                                6.093            818.53   No               NO                              43.09   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.500            2.500                 693   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654309                                5.718          1,339.84   Yes              2YP                             22.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 740   SISA                                    Rate/Term Refinance          Investor                   Condominium
      1103654343                                5.718            899.33   Yes              3YP                             26.12   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 761   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654355                               5.8425            3312.5   Yes              1YP                             40.62   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 724   Stated                                  Purchase                     Owner Occupied             SFR
      1103654356                               5.8425           2020.83   Yes              1YP                             46.36   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 712   Full                                    Purchase                     Owner Occupied             SFR
      1103654375                                6.093            979.48   No               NO                              40.61   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 680   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654408                                6.018          3,395.07   No               NO                               1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.300            0.000                 742   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             D-PUDS
      1103654416                                5.968            468.75   Yes              3YP                             15.96   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 764   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654433                                6.843          3,035.94   Yes              1YP                             48.83   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            13.250            2.500                 717   Stated                                  Cash Out Refinance           Investor                   SFR
      1103654467                                5.593          4,300.00   No               NO                              36.92   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 741   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103654472                                6.218          1,787.50   Yes              2YP                             33.94   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 659   Full                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      1103654482                                4.968            694.27   Yes              3YP                             51.13   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.375            3.000                 740   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654489                                5.968          1,847.15   Yes              2YP                             27.20   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 753   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103654504                                6.093          1,105.00   Yes              2YP                             39.36   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 692   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654507                                6.218          2,502.99   Yes              3YP                             43.38   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 735   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654516                                6.093          1,075.21   Yes              2YP                             20.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 754   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      1103654522                                5.843          1,869.79   Yes              3YP                             49.82   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 718   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103654534                                5.343          1,078.13   Yes              3YP                             31.58   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 763   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103654536                                5.968          1,293.01   Yes              3YP                             28.78   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 761   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654539                                5.093          4,485.53   Yes              3YP                             43.83   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 803   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654546                                7.093          3,125.00   Yes              3YP                             39.83   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 668   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103654548                                6.093          1,841.67   Yes              3YP                             49.79   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.500            2.500                 721   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103654580                                5.843          3,906.25   No               NO                              25.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 704   Stated                                  Cash Out Refinance           Second Home                D-PUDS
      1103654583                                5.968          1,562.50   Yes              3YP                             39.76   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 707   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654619                                5.343          1,293.75   Yes              2YP                             29.33   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.500                   3.000                   1.000                     6.000            11.750            2.500                 706   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103654622                                5.968          2,526.04   Yes              3YP                             44.26   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 677   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654631                                6.843          1,628.23   Yes              2YP                             33.91   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.250            7.250                 651   Stated                                  Cash Out Refinance           Investor                   SFR
      1103654636                               5.8425           2083.33   No               NO                               1.00   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.250            3.000                 736   Express Non-Verified Assets             Purchase                     Owner Occupied             D-PUDS
      1103654637                                5.468          4,201.72   Yes              3YP                             42.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 789   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654644                                5.593          1,780.00   Yes              2YP                             33.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 773   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654688                                5.968          2,339.73   Yes              2YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 796   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             D-PUDS
      1103654691                                6.593          1,145.68   Yes              3YP                             42.33   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 691   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654727                                5.593          1,677.01   Yes              3YP                             18.74   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 698   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654743                               4.8425              1575   Yes              3YP                             45.32   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.250            3.000                 801   Full                                    Purchase                     Owner Occupied             SFR
      1103654747                                5.043          2,043.75   Yes              3YP                             38.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.450            3.000                 695   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103654762                                6.633          3,246.96   Yes              3YP                              1.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.695            0.000                 662   Express Verified Assets                 Rate/Term Refinance          Investor                   HI-RISE
      1103654772                               7.5825           2130.67   Yes              2YP                             49.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.990            3.000                 669   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103654798                                5.843          2,126.64   Yes              3YP                             25.88   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 728   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103654813                               6.0925           3271.67   Yes              1YP                             33.34   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 746   Stated                                  Purchase                     Owner Occupied             SFR
      1103654822                               5.4675           1782.08   Yes              3YP                             43.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 703   Stated                                  Purchase                     Owner Occupied             Condominium
      1103654829                                5.968          2,215.31   No               NO                               0.00   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.375            3.000                 696   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103654832                                5.718          3,645.46   Yes              3YP                             35.35   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 685   Full                                    Rate/Term Refinance          Investor                   2-FAMILY
      1103654837                               9.8475            1219.2   Yes              1YP                             46.02   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         7.150                   3.000                   1.000                     6.000            16.255           10.255                 618   Stated                                  Purchase                     Owner Occupied             SFR
      1103654858                                6.218          2,173.83   Yes              3YP                             48.46   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 690   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103654873                                5.593          5,491.50   Yes              3YP                             46.43   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 684   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654878                                5.593          2,130.00   Yes              3YP                             40.27   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 698   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103654884                               6.0925           2589.17   Yes              3YP                             48.72   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 724   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103654886                                7.218          2,865.73   Yes              3YP                             32.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.625            3.000                 706   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103654901                                5.343          1,586.04   Yes              3YP                             22.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 753   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654905                               6.3425            852.19   Yes              2YP                             18.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 729   Stated                                  Purchase                     Investor                   SFR
      1103654911                                5.718          2,338.25   Yes              2YP                             43.89   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 765   SISA                                    Cash Out Refinance           Owner Occupied             Condominium
      1103654936                                4.968            985.42   Yes              3YP                             28.84   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.375            3.000                 718   Full                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      1103654939                               5.8425          10416.15   Yes              2YP                             37.78   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 780   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103654942                                6.583          3,343.55   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 654   Express Verified Assets                 Cash Out Refinance           Investor                   2-FAMILY
      1103654944                                6.093          1,755.00   No               NO                              38.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 705   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654960                               6.0925              2158   Yes              3YP                             43.19   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.500            2.500                 670   Stated                                  Purchase                     Owner Occupied             SFR
      1103654975                                6.343          3,141.98   No               NO                              40.75   25YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 775   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654979                                6.093          3,337.70   No               NO                              49.56   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 732   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103654980                               6.2175           2473.33   Yes              3YP                             43.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 735   Stated                                  Purchase                     Owner Occupied             SFR
      1103654985                               6.5925              1890   No               NO                              44.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            13.000            2.500                 695   Stated                                  Purchase                     Owner Occupied             SFR
      1103654987                                6.343          1,035.00   No               NO                              38.34   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 757   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103654992                               6.5925            873.83   No               NO                              23.68   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         4.500                   3.000                   1.000                     6.000            13.000            7.000                 759   Stated                                  Purchase                     Investor                   SFR
      1103655013                                5.843          1,093.75   No               NO                              30.44   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 725   Full                                    Rate/Term Refinance          Investor                   SFR
      1103655056                                5.843          1,378.13   Yes              6MP                             33.54   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 725   Full                                    Rate/Term Refinance          Investor                   2-FAMILY
      1103655063                                5.718          2,521.46   No               NO                               1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.125            2.750                 693   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103655080                               6.5925           1053.84   Yes              3YP                             43.81   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            3.000                 695   Stated                                  Purchase                     Owner Occupied             SFR
      1103655105                                5.718          1,375.57   Yes              3YP                             44.28   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.125            3.000                 717   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655111                                5.843          2,734.38   Yes              1YP                             31.62   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 662   Stated                                  Rate/Term Refinance          Owner Occupied             2-FAMILY
      1103655133                                6.218          1,733.33   No               NO                              50.39   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 685   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655137                               5.9675           1491.75   Yes              3YP                             48.21   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 662   Stated                                  Purchase                     Owner Occupied             SFR
      1103655142                                5.968          1,317.63   Yes              3YP                             52.80   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 707   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103655143                                7.093            873.01   Yes              3YP                             39.12   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 665   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655149                               6.0925           1607.67   Yes              3YP                             46.17   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         5.500                   3.000                   1.000                     6.000            12.500            5.500                 700   Stated                                  Purchase                     Owner Occupied             SFR
      1103655159                                5.968            985.15   Yes              3YP                             25.41   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 718   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655161                               7.4675           1874.25   Yes              3YP                             36.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.250                   3.000                   1.000                     6.000            13.875            3.250                 723   Stated                                  Purchase                     Owner Occupied             SFR
      1103655170                                6.843          2,345.31   No               NO                               1.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 695   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      1103655209                               6.0925             890.5   Yes              3YP                             49.56   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.500            3.000                 708   Stated                                  Purchase                     Owner Occupied             Condominium
      1103655274                                5.843          2,254.17   Yes              3YP                             37.92   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 729   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655312                                6.093          1,733.33   Yes              1YP                             43.72   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 647   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655330                                5.968            738.28   Yes              3YP                             42.42   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 702   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655336                                7.618            747.21   No               NO                               0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.900            0.000                 660   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103655338                                5.848            924.06   Yes              3YP                             22.77   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.130            0.000                 723   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655346                                5.843          1,562.50   Yes              2YP                             42.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 774   Stated                                  Cash Out Refinance           Investor                   SFR
      1103655353                               6.8425           1318.29   Yes              1YP                             38.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.250            3.000                 752   Stated                                  Purchase                     Investor                   SFR
      1103655373                                6.218          1,542.68   Yes              3YP                             53.05   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 653   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655379                               5.9675           1347.25   Yes              1YP                             43.56   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 744   Stated                                  Purchase                     Owner Occupied             SFR
      1103655390                                5.968          3,232.52   Yes              2YP                             40.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 694   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655392                                5.968          5,169.06   Yes              1YP                             35.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 708   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655427                                6.468          2,360.90   No               NO                              39.26   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 746   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655438                                5.968          1,539.29   Yes              3YP                             23.77   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 736   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655456                                5.593          1,000.00   Yes              3YP                             25.78   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 771   Stated                                  Rate/Term Refinance          Investor                   PUD
      1103655471                                7.343          2,480.00   Yes              2YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 643   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103655477                               7.0925           1347.73   Yes              2YP                             49.40   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         4.620                   3.000                   1.000                     6.000            13.500            7.500                 724   Stated                                  Purchase                     Owner Occupied             SFR
      1103655478                                5.593          3,038.75   Yes              1YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 752   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      1103655514                                5.968          1,126.25   Yes              3YP                             40.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 701   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655517                                5.968          3,250.99   No               NO                              33.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 784   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655520                               5.9675           3385.42   No               NO                              38.51   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 764   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103655533                                6.093          3,160.34   Yes              3YP                             36.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 725   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103655534                                5.708          2,376.03   Yes              3YP                             32.50   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.990            0.000                 643   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655535                                5.718          1,592.50   Yes              3YP                             43.85   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 693   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655556                                6.093          2,175.47   Yes              2YP                             44.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 706   SISA                                    Cash Out Refinance           Investor                   SFR
      1103655563                                6.093          2,085.42   Yes              3YP                             44.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 628   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655568                                5.843          2,541.88   Yes              3YP                             36.56   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 706   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655580                                5.468          2,423.44   Yes              3YP                             33.37   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 677   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103655594                               5.7175           2997.75   No               NO                              38.10   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 801   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103655600                               5.3425           4695.83   No               NO                              47.58   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 786   Full                                    Purchase                     Owner Occupied             SFR
      1103655601                               6.3425               711   Yes              2YP                             36.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.250                   3.000                   1.000                     6.000            12.750            2.250                 733   Stated                                  Purchase                     Owner Occupied             HI-RISE
      1103655612                                5.718          1,678.74   No               NO                              40.59   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 736   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655619                               5.3425           2381.46   Yes              1YP                             37.26   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.750            3.000                 696   Stated                                  Purchase                     Owner Occupied             SFR
      1103655632                               7.0925           2005.35   No               NO                              44.34   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.500            3.000                 664   Stated                                  Purchase                     Owner Occupied             SFR
      1103655644                                5.968          1,657.50   Yes              3YP                             32.65   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.375            3.000                 702   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655652                                5.718          4,583.54   No               NO                              39.75   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.125            3.000                 786   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655655                                6.593          2,406.25   No               NO                              34.73   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 691   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103655658                                5.968          1,792.97   Yes              3YP                             43.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 627   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655669                                7.143            663.09   Yes              3YP                             30.77   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            13.550            3.000                 629   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103655672                              13.8475           2567.32   No               NO                              34.35   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.380            0.000                 646   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103655683                               9.2725           3098.81   No               NO                              46.77   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.875                   3.000                   1.000                     6.000            16.500            3.875                 704   SISA                                    Purchase                     Investor                   D-PUDS
      1103655684                               13.968            642.89   Yes              3YP                             49.76   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.500            0.000                 654   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      1103655692                                5.843         10,152.08   Yes              1YP                             39.73   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.250            3.000                 700   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655694                                5.468          1,104.50   Yes              3YP                             43.68   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 685   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655695                               6.0925           2742.19   Yes              1YP                             44.19   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 723   Stated                                  Purchase                     Investor                   2-FAMILY
      1103655700                                5.843          1,731.77   Yes              3YP                             48.82   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 639   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655702                                5.968          1,035.94   Yes              1YP                             38.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 756   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      1103655708                                5.968          1,668.59   No               NO                              40.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 706   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103655719                                6.218          2,549.63   Yes              2YP                             34.60   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 780   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655727                                5.343          4,312.50   Yes              3YP                             21.89   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 733   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655738                                5.593          2,360.00   No               NO                              39.40   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.500                   3.000                   1.000                     6.000            12.000            2.500                 761   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655748                                5.343          2,878.28   No               NO                              47.54   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 726   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103655751                               6.7175           2271.09   Yes              1YP                             44.44   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.125            3.000                 723   Stated                                  Purchase                     Owner Occupied             SFR
      1103655755                                5.968            677.34   Yes              1YP                             38.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 756   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      1103655776                                5.343          1,437.50   Yes              6MP                             42.27   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 695   Stated                                  Cash Out Refinance           Investor                   SFR
      1103655782                                5.843          2,891.51   Yes              1YP                             24.01   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 775   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655792                                7.093          4,400.42   Yes              3YP                             31.89   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 664   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655794                               5.8425           3587.33   Yes              3YP                             34.80   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 781   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103655803                                6.218          3,836.98   Yes              3YP                             31.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.625            3.000                 622   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655826                                5.343          3,258.22   Yes              3YP                             44.22   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 769   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655827                                5.968          5,071.05   Yes              3YP                             44.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 695   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655833                                6.593          6,562.50   Yes              1YP                             36.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 686   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103655874                                5.593          1,480.99   No               NO                              43.34   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 717   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103655891                                6.218          1,191.67   Yes              3YP                             23.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 748   Stated                                  Cash Out Refinance           Second Home                D-PUDS
      1103655895                               6.5925           3033.33   Yes              3YP                             44.62   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            3.000                 700   Stated                                  Purchase                     Owner Occupied             SFR
      1103655913                                9.273          1,316.73   Yes              2YP                             48.84   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.625                   3.000                   1.000                     6.000            16.650            3.625                 689   Stated                                  Cash Out Refinance           Investor                   SFR
      1103655918                               5.2175           1828.13   Yes              3YP                             40.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.625            3.000                 715   Stated                                  Purchase                     Owner Occupied             SFR
      1103655925                                6.218          1,343.14   Yes              3YP                             25.54   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 653   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103655928                                5.093          2,924.17   Yes              3YP                             43.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 703   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103655932                               5.0925            1127.5   Yes              3YP                             13.60   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.500            3.000                 773   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103655939                                5.343          2,096.35   Yes              1YP                             41.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.500                   3.000                   1.000                     6.000            11.750            4.500                 720   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103655950                                5.843          1,166.67   Yes              3YP                             40.80   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            12.250            2.500                 709   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103655959                                6.718          2,805.47   Yes              1YP                             39.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.125            3.000                 626   Full                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      1103655978                                5.968          1,559.67   Yes              3YP                             30.01   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 755   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103656001                                5.843          1,380.21   Yes              3YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 729   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103656015                               5.4675            1153.5   Yes              3YP                             36.96   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 720   Stated                                  Purchase                     Investor                   Condominium
      1103656038                               8.3425           2654.17   No               NO                              37.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.750            3.000                 718   Stated                                  Purchase                     Investor                   SFR
      1103656048                               5.3425           1391.98   No               NO                              32.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 770   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103656056                                5.468          1,419.79   No               NO                              28.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 751   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656076                                5.843            616.15   No               NO                              26.59   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.500                   3.000                   1.000                     6.000            12.250            2.500                 760   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103656103                                5.718            893.23   No               NO                              29.73   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 769   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656108                               6.4675           2772.92   Yes              2YP                             46.90   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         2.500                   3.000                   1.000                     6.000            12.875            2.500                 705   Stated                                  Purchase                     Owner Occupied             SFR
      1103656109                                6.093          1,207.92   Yes              3YP                             44.57   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.500            3.000                 643   Stated                                  Cash Out Refinance           Investor                   PUD
      1103656134                                7.843          2,654.17   No               NO                               0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.125            0.000                 733   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103656140                                6.468          4,540.19   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 748   Express No Doc                          Cash Out Refinance           Investor                   3-FAMILY
      1103656141                               6.5925           2732.82   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 676   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103656142                               6.8425           2436.17   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 639   Express Verified Assets                 Purchase                     Owner Occupied             2-FAMILY
      1103656145                                6.468          5,513.08   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 748   Express No Doc                          Cash Out Refinance           Investor                   3-FAMILY
      1103656146                               5.9675            714.23   No               NO                              47.20   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 790   SISA                                    Purchase                     Second Home                SFR
      1103656164                                6.218          1,407.81   No               NO                              45.10   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.625            2.500                 750   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103656181                               6.7175           1211.25   Yes              3YP                             31.08   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 720   Stated                                  Purchase                     Investor                   2-FAMILY
      1103656207                                5.548          1,218.69   Yes              3YP                             34.32   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.290            0.000                 773   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103656229                                5.843          2,098.69   Yes              3YP                             37.35   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 774   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656234                               6.4675            1842.5   Yes              3YP                             42.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 786   Stated                                  Purchase                     Owner Occupied             SFR
      1103656238                                6.093          1,083.33   Yes              2YP                             31.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 651   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656247                                5.843          2,812.50   Yes              1YP                             22.10   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 740   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656250                                6.393          1,360.00   Yes              3YP                             44.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.800            3.000                 695   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656255                               6.3425            2425.5   Yes              3YP                             44.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 778   Stated                                  Purchase                     Owner Occupied             SFR
      1103656270                                5.468          1,985.26   Yes              3YP                             31.34   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 771   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103656280                                5.718          2,638.02   No               NO                              41.99   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 734   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103656297                                6.093          1,760.42   Yes              3YP                             42.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 668   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656341                                5.843          1,781.25   Yes              1YP                             37.59   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 620   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656391                               6.3425              1134   Yes              1YP                             28.58   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            6.750                 746   Stated                                  Purchase                     Investor                   SFR
      1103656405                                6.843          2,270.84   Yes              2YP                              1.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 607   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103656415                               5.7175           2388.75   Yes              3YP                             37.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 722   Stated                                  Purchase                     Owner Occupied             Condominium
      1103656427                                6.968          3,142.57   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 635   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103656430                                5.593          2,440.00   Yes              1YP                             40.02   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 732   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656441                                5.243          1,619.67   Yes              3YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.650            3.000                 784   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103656442                               6.4675            429.69   Yes              1YP                             49.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 778   Stated                                  Purchase                     Investor                   SFR
      1103656446                                5.843          1,054.69   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.250            2.500                 681   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103656467                                5.343          2,951.67   Yes              3YP                              1.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 716   Express Verified Assets                 Cash Out Refinance           Owner Occupied             2-FAMILY
      1103656469                                5.593          3,435.00   Yes              3YP                             34.51   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656471                               6.2175           1056.82   Yes              3YP                             41.20   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 660   Full                                    Purchase                     Owner Occupied             SFR
      1103656473                                5.343          2,491.67   Yes              3YP                             40.35   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 708   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656485                               5.8425           1595.94   Yes              3YP                             29.84   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 639   Stated                                  Purchase                     Owner Occupied             SFR
      1103656490                                5.808          1,915.78   Yes              2YP                             47.16   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            13.625            4.375                 632   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103656520                                5.468          2,374.48   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            11.875            3.000                 688   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103656534                                6.468          2,578.13   Yes              3YP                             34.35   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         4.500                   3.000                   1.000                     6.000            12.875            4.500                 656   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103656544                                5.033            589.33   No               NO                              23.75   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            11.440            3.000                 723   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656547                                7.273          1,372.56   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.625                   3.000                   1.000                     6.000            14.250            3.625                 762   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103656568                                5.093          5,268.03   Yes              3YP                             44.08   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.375            0.000                 683   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103656569                                6.343          2,345.63   Yes              3YP                             42.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 737   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656570                                6.218          1,620.67   Yes              3YP                             49.31   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 705   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103656572                               6.3425           2062.69   Yes              3YP                             44.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 661   Stated                                  Purchase                     Owner Occupied             SFR
      1103656583                                5.593          2,124.50   Yes              3YP                             54.26   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.000            3.000                 690   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103656594                                6.093          2,621.67   Yes              2YP                             43.97   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 727   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103656613                                5.343          1,907.08   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 744   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103656618                                6.968            795.89   Yes              3YP                             29.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 643   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      1103656623                               7.8725            1147.5   Yes              3YP                             32.78   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            15.000            3.625                 700   Stated                                  Purchase                     Investor                   SFR
      1103656626                                6.093            948.10   Yes              2YP                             37.37   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 651   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656631                                5.593          1,425.00   Yes              3YP                             42.16   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.000            3.000                 673   FISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103656646                               6.5825           1080.54   Yes              1YP                             42.21   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 759   Stated                                  Purchase                     Investor                   Condominium
      1103656655                                5.593          1,490.00   Yes              1YP                             41.65   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.000            2.500                 746   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103656679                               7.7175           1650.39   No               NO                              38.22   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.125            3.000                 686   Stated                                  Purchase                     Investor                   2-FAMILY
      1103656681                                6.218          2,604.12   Yes              3YP                             43.47   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 633   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656695                                6.593          1,303.39   Yes              3YP                             53.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 672   Full                                    Cash Out Refinance           Investor                   SFR
      1103656739                               6.7175           1306.25   Yes              3YP                             44.28   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 703   SISA                                    Purchase                     Owner Occupied             D-PUDS
      1103656742                               7.5925            527.85   No               NO                              43.49   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 746   Stated                                  Purchase                     Investor                   SFR
      1103656750                                5.468          3,363.44   Yes              3YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 757   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103656761                                5.468          2,619.27   No               NO                              40.64   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 733   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656788                                6.468            583.74   No               NO                              23.61   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 677   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656798                               6.4675            665.44   Yes              2YP                             31.28   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.875            3.000                 711   Stated                                  Purchase                     Investor                   Condominium
      1103656804                                6.343          2,025.00   Yes              2YP                             44.22   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.500                   3.000                   1.000                     6.000            12.750            2.500                 682   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103656807                                5.468          3,066.67   Yes              3YP                             37.27   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 716   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103656818                                6.343          3,583.02   No               NO                              37.34   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 770   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656819                                5.843          1,822.83   No               NO                              36.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 653   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656820                               5.5925           2756.86   No               NO                              50.11   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 784   Full                                    Purchase                     Owner Occupied             PUD
      1103656821                                5.718          4,177.09   No               NO                              39.65   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 804   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103656822                               5.4675           2711.28   No               NO                              48.69   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 765   Full                                    Purchase                     Owner Occupied             PUD
      1103656823                               6.2175           2356.25   No               NO                              53.83   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 787   Alternative                             Purchase                     Owner Occupied             SFR
      1103656824                                6.468          1,395.00   No               NO                              37.76   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 787   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103656825                               6.0925           1207.27   No               NO                              32.47   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 674   Full                                    Purchase                     Second Home                SFR
      1103656828                               6.2175           3628.07   No               NO                              31.71   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 780   Full                                    Purchase                     Owner Occupied             PUD
      1103656829                                5.968          4,002.16   No               NO                              36.10   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 778   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656830                                5.968          1,639.35   No               NO                              21.11   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 698   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103656831                               5.9675           2672.21   No               NO                              48.15   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 799   Stated                                  Purchase                     Owner Occupied             SFR
      1103656832                               5.9675           2655.28   No               NO                              37.36   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 764   Stated                                  Purchase                     Owner Occupied             SFR
      1103656833                                6.093          3,194.21   No               NO                              54.91   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 706   Alternative                             Cash Out Refinance           Owner Occupied             SFR
      1103656836                                6.093          2,496.88   No               NO                              47.69   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 799   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103656837                                6.093          1,122.97   No               NO                              44.74   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 760   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656838                               5.9675           1748.64   No               NO                              39.73   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 768   Stated                                  Purchase                     Owner Occupied             SFR
      1103656839                                6.093          2,964.38   No               NO                              37.24   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 801   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656840                                6.593          3,941.57   No               NO                              52.55   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 702   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103656841                                5.843          1,519.03   No               NO                              34.38   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 673   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103656842                                6.468          3,372.71   No               NO                              42.61   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 699   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656843                                5.968          3,441.86   No               NO                              47.98   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 685   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656844                                6.468          2,643.75   No               NO                              29.50   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 749   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656845                               5.9675           4433.16   No               NO                              43.40   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 770   Full                                    Purchase                     Owner Occupied             PUD
      1103656860                                6.093          2,688.88   No               NO                              39.73   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 762   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103656867                               6.0925            573.27   No               NO                              45.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 751   SISA                                    Purchase                     Owner Occupied             SFR
      1103656870                                5.718          1,312.00   No               NO                              53.09   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 758   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103656878                                5.968          2,500.00   No               NO                              49.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 681   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103656882                                6.968          2,940.78   Yes              1YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 739   Express No Doc                          Cash Out Refinance           Owner Occupied             D-PUDS
      1103656886                                5.843          1,109.38   Yes              3YP                             34.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 680   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103656897                               5.4675           3781.11   Yes              2YP                             40.69   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 753   Full                                    Purchase                     Owner Occupied             SFR
      1103656900                                5.468          3,909.94   Yes              3YP                             32.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 791   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103656911                                5.593          1,123.92   Yes              3YP                             42.78   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 753   Full                                    Cash Out Refinance           Investor                   SFR
      1103656912                                5.343          2,129.93   Yes              3YP                              1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 767   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103656925                               5.4675           1733.28   Yes              2YP                             36.44   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 782   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103656947                                6.218          2,161.79   Yes              3YP                             44.09   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103656952                                6.093          1,785.59   No               NO                              40.85   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 696   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657001                                5.843          1,994.79   No               NO                              39.28   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.250            3.000                 773   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657011                                6.593          2,800.00   No               NO                              42.14   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            13.000            2.500                 643   SISA                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657015                               5.7175            2082.5   Yes              3YP                             34.95   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 706   Stated                                  Purchase                     Owner Occupied             Condominium
      1103657016                                6.093          2,626.49   Yes              3YP                             43.71   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 770   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657044                                5.468          2,075.83   Yes              3YP                             25.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 778   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657053                                5.718            945.29   Yes              1YP                             36.67   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 770   Full                                    Rate/Term Refinance          Investor                   SFR
      1103657072                                5.343          1,360.83   No               NO                              45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 745   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657075                                7.468          3,018.75   No               NO                              42.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.875            3.000                 671   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657098                                8.467          2,721.67   Yes              3YP                             29.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.875            3.000                 684   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      1103657101                               6.5925           2543.33   Yes              3YP                             42.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 668   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103657105                               5.9675           1253.75   No               NO                              50.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            12.375            2.500                 696   Full                                    Purchase                     Owner Occupied             SFR
      1103657119                                5.343          2,567.72   Yes              3YP                             44.47   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 725   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657120                                7.343          1,278.75   Yes              3YP                             39.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 711   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103657131                                5.593          2,275.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.000            2.500                 649   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103657135                                5.593          1,678.73   Yes              3YP                             39.34   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 788   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103657143                                5.583          3,299.49   Yes              3YP                             34.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.990            3.000                 781   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657154                                5.968            832.73   Yes              1YP                             38.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 756   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      1103657160                                5.968          1,393.31   Yes              3YP                             40.28   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 797   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657173                               5.7175            793.19   Yes              1YP                             34.26   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 785   Stated                                  Purchase                     Investor                   SFR
      1103657189                                5.143          3,676.88   No               NO                              39.74   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.550            3.000                 793   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657198                                5.218          2,980.89   No               NO                              30.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.500            0.000                 776   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657201                                6.593          1,254.17   Yes              1YP                             32.53   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.000            3.000                 733   Full                                    Cash Out Refinance           Investor                   D-PUDS
      1103657206                               5.8425            642.58   No               NO                              37.14   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.250            2.750                 766   Full                                    Purchase                     Investor                   D-PUDS
      1103657219                               7.3825            904.56   No               NO                              35.73   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            14.470            3.500                 794   Stated                                  Purchase                     Second Home                D-PUDS
      1103657249                                5.968          2,215.31   Yes              3YP                             28.54   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.500                   3.000                   1.000                     6.000            12.375            2.500                 749   SISA                                    Cash Out Refinance           Investor                   SFR
      1103657325                              10.2525           1507.97   No               NO                              45.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            17.750            3.875                 660   SISA                                    Purchase                     Investor                   Condominium
      1103657327                               5.2175            660.47   Yes              1YP                             46.97   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.625            3.000                 796   Full                                    Purchase                     Investor                   PUD
      1103657332                                7.668          1,402.14   No               NO                              47.41   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.950            0.000                 624   FISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103657380                               7.0925            1287.5   Yes              3YP                             43.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.500            7.500                 671   Stated                                  Purchase                     Owner Occupied             SFR
      1103657391                               7.8425           1034.49   Yes              1YP                             48.34   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.250            3.000                 702   Stated                                  Purchase                     Investor                   SFR
      1103657405                                7.598          1,512.02   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            14.625            3.625                 712   Express Verified Assets                 Cash Out Refinance           Owner Occupied             D-PUDS
      1103657413                                7.018          2,075.37   Yes              3YP                             45.17   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.250            0.000                 633   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103657414                                5.968          1,036.46   Yes              1YP                             47.78   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 633   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657415                               5.1425            4040.4   Yes              3YP                             27.37   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.550            3.000                 780   Full                                    Purchase                     Owner Occupied             SFR
      1103657434                                5.668            873.91   Yes              3YP                             39.97   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.950            0.000                 692   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657436                                6.093          2,184.00   Yes              3YP                             44.78   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 712   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657457                                5.968          1,432.81   Yes              3YP                             42.01   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 651   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657458                                5.218            914.06   Yes              1YP                             34.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.625            3.000                 798   FISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657464                                6.093          1,386.67   Yes              3YP                             43.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.500            2.750                 673   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657466                                5.593          1,732.70   Yes              2YP                             39.75   7/6 LIBOR                                        LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.000            3.000                 781   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657467                                5.843          3,125.00   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 668   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657491                               6.3425              1800   No               NO                               1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.750            2.750                 807   Express No Doc                          Purchase                     Owner Occupied             D-PUDS
      1103657492                                5.438          2,190.94   Yes              3YP                             49.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.750                   3.000                   1.000                     6.000            13.125            3.750                 775   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103657494                                6.218          3,930.83   No               NO                              41.54   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 685   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657504                               7.3925            2854.8   No               NO                              31.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.800            3.000                 636   Stated                                  Purchase                     Owner Occupied             SFR
      1103657517                                5.093          3,974.52   Yes              1YP                             36.73   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 784   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657522                                5.593          1,775.00   Yes              3YP                             33.63   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.000            3.000                 774   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103657537                                5.288          2,036.72   Yes              3YP                             45.34   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.875            3.875                 678   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103657540                                6.468          2,612.50   Yes              3YP                             40.32   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 663   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657542                               7.0425            918.34   Yes              3YP                             43.01   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.450            3.000                 718   Stated                                  Purchase                     Owner Occupied             SFR
      1103657547                                5.718          1,071.88   Yes              1YP                             46.72   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.125            3.000                 796   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657578                               6.3425              1674   No               NO                               0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         2.750                   3.000                   1.000                     6.000            12.750            2.750                 736   Express Verified Assets                 Purchase                     Owner Occupied             HI-RISE
      1103657590                                5.968          2,852.81   No               NO                              34.19   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140301                        20140401         83         3.000                   3.000                   1.000                     6.000            12.375            3.000                 678   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657592                                5.968          2,999.22   No               NO                              46.82   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 789   Full                                    Rate/Term Refinance          Owner Occupied             HI-RISE
      1103657604                               6.9675           1602.78   Yes              3YP                             20.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.375            3.000                   0   Full                                    Purchase                     Second Home                Condominium
      1103657616                               5.9675            1224.8   Yes              1YP                             49.08   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 720   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103657623                                5.718          1,071.88   Yes              3YP                             12.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 744   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103657625                                5.468          1,615.62   No               NO                              24.02   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 726   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657629                                5.718          1,071.88   Yes              3YP                             12.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 744   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103657631                                5.468          2,203.12   Yes              3YP                             44.89   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.875            3.000                 737   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657637                                5.968          2,282.25   Yes              3YP                             28.28   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 715   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103657652                                7.218          2,880.76   Yes              3YP                             34.55   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 663   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103657672                                5.718          1,796.67   Yes              3YP                             30.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.125            3.000                 765   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657676                               5.8425            1937.5   Yes              2YP                             40.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            12.250            2.500                 724   SISA                                    Purchase                     Owner Occupied             SFR
      1103657683                                5.468          2,085.62   Yes              1YP                             39.71   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 781   Full                                    Rate/Term Refinance          Owner Occupied             HI-RISE
      1103657685                                5.968          1,185.26   Yes              3YP                             42.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 747   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103657697                               6.9675            1858.5   No               NO                              43.69   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 654   Full                                    Purchase                     Owner Occupied             Condominium
      1103657711                                5.343            996.67   Yes              3YP                             48.17   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 712   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657722                               5.8425            1687.5   Yes              1YP                             39.46   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 678   Stated                                  Purchase                     Owner Occupied             Condominium
      1103657723                                5.718          1,575.00   No               NO                              38.46   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 699   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657729                               6.4675           2180.05   Yes              2YP                             41.50   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         5.250                   3.000                   1.000                     6.000            12.875            5.250                 681   Stated                                  Purchase                     Owner Occupied             SFR
      1103657735                                6.408            966.92   Yes              3YP                             27.43   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.690            0.000                 632   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657738                                5.468          2,325.52   Yes              3YP                             44.22   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 713   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657754                                5.343          2,826.47   Yes              3YP                             32.50   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 778   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657767                               6.8425           1249.42   Yes              1YP                             49.24   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 658   Full                                    Purchase                     Owner Occupied             SFR
      1103657781                                5.843            754.59   Yes              3YP                             49.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 612   Full                                    Cash Out Refinance           Investor                   SFR
      1103657786                                6.593          1,297.92   Yes              2YP                             31.70   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.000            3.000                 740   Stated                                  Cash Out Refinance           Investor                   SFR
      1103657787                                6.343          2,756.25   Yes              3YP                             41.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.750            3.000                 735   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657805                                5.718          1,415.73   Yes              3YP                             54.69   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 611   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657808                                5.468          1,684.17   Yes              3YP                             38.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 654   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657812                                6.093          2,556.67   Yes              3YP                             44.13   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 690   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657814                                6.093          1,665.63   Yes              3YP                             43.54   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.500            3.000                 675   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657833                               6.4675           1631.67   Yes              3YP                             49.78   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         4.000                   3.000                   1.000                     6.000            12.875            4.000                 719   Stated                                  Purchase                     Owner Occupied             SFR
      1103657848                                5.718          1,360.00   Yes              3YP                              0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 718   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103657853                                6.343          2,805.47   No               NO                              48.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 713   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657858                                5.718            800.00   Yes              3YP                             23.16   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 751   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657867                                5.218          4,500.00   Yes              3YP                             27.94   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 754   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657877                                7.093          1,937.50   Yes              3YP                             29.94   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 621   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657893                                6.593            733.33   Yes              1YP                             49.04   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 664   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657911                                5.968          1,487.50   Yes              3YP                             44.37   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.375            3.000                 721   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103657924                                6.343          1,125.00   Yes              3YP                             31.83   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 707   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103657942                                6.093          1,285.63   Yes              3YP                             48.83   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 695   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103657948                                7.523            818.17   Yes              3YP                              1.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.650                   3.000                   1.000                     6.000            14.900            3.650                 690   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103657955                                6.468          2,108.33   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 680   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103657958                                6.343            711.00   Yes              3YP                             41.52   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.750            3.000                 653   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103657967                                5.468            787.74   Yes              2YP                              1.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.875            3.000                 737   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      1103657971                                6.468            726.43   Yes              3YP                             38.25   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 675   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103657974                                6.718          1,077.95   Yes              3YP                             41.87   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 675   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658003                               6.9675           1355.16   Yes              2YP                             37.45   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.375            7.375                 694   Stated                                  Purchase                     Investor                   D-PUDS
      1103658030                               6.9675           1284.17   Yes              2YP                             36.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.375            7.375                 683   Stated                                  Purchase                     Investor                   D-PUDS
      1103658037                                5.593          2,700.00   Yes              1YP                             34.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 779   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658041                                7.468          1,511.63   Yes              3YP                             36.57   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.750            0.000                 626   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658044                                6.843          1,563.28   No               NO                              39.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 762   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103658051                                6.468          2,360.42   Yes              1YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 715   Express No Doc                          Rate/Term Refinance          Owner Occupied             SFR
      1103658080                                5.593          3,000.00   Yes              3YP                             40.05   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 692   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103658087                                6.468            744.79   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         2.500                   3.000                   1.000                     6.000            12.875            2.500                 641   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             D-PUDS
      1103658104                                5.393          1,500.27   Yes              1YP                             32.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.800            3.000                 760   Full                                    Cash Out Refinance           Investor                   D-PUDS
      1103658127                                5.968            911.46   No               NO                              27.82   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 770   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658133                                5.843          1,975.73   Yes              3YP                             41.06   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         5.250                   3.000                   1.000                     6.000            12.250            5.250                 735   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658142                                5.843          2,050.78   Yes              3YP                             45.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 705   Stated                                  Cash Out Refinance           Investor                   SFR
      1103658149                               5.4675           1737.53   Yes              3YP                             32.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 709   Full                                    Purchase                     Investor                   HI-RISE
      1103658170                                5.543          2,380.00   Yes              3YP                             39.51   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.950            3.000                 687   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658173                               7.3425             697.5   Yes              1YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 745   Stated                                  Purchase                     Investor                   SFR
      1103658187                               7.4675           2320.22   Yes              3YP                             26.60   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.875            3.000                 683   Stated                                  Purchase                     Investor                   SFR
      1103658189                                4.968          2,583.58   Yes              1YP                             43.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.375            3.000                 751   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658200                               6.8425            1060.1   No               NO                              25.51   2/6 LIBOR                                        LIBOR                          6                6                             20090401                        20090501         24         3.000                   3.000                   1.000                     6.000            13.250            7.250                 751   Full                                    Purchase                     Investor                   SFR
      1103658209                                5.343          2,635.42   Yes              3YP                             40.31   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 736   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103658228                                6.093          1,567.19   Yes              3YP                             31.78   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 727   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103658234                                5.593          2,400.00   No               NO                              39.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 641   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103658240                                5.468          4,960.37   Yes              3YP                             37.15   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 783   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658279                                6.218          1,094.17   Yes              3YP                             44.80   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 649   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658281                               5.9675           1123.59   Yes              2YP                             43.54   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.375            3.000                 685   Stated                                  Purchase                     Investor                   SFR
      1103658291                                6.093          2,454.38   No               NO                              35.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 733   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103658295                               7.8425           1942.46   Yes              3YP                             34.99   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.250            3.000                 681   Stated                                  Purchase                     Owner Occupied             SFR
      1103658338                               5.4675           4739.17   No               NO                              20.86   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 732   Full                                    Purchase                     Owner Occupied             Townhouse
      1103658377                                5.468          2,766.15   Yes              1YP                             27.93   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 778   Stated                                  Cash Out Refinance           Investor                   SFR
      1103658395                                5.843          1,430.70   Yes              3YP                             43.48   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 628   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658403                               6.3425           4190.63   Yes              6MP                             47.85   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         3.000                   3.000                   1.000                     6.000            12.750            3.000                 798   Stated                                  Purchase                     Investor                   SFR
      1103658418                                5.968          2,083.33   No               NO                              28.57   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 807   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658423                                6.593          2,330.37   Yes              2YP                             31.46   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 617   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658481                                5.218          2,439.84   No               NO                              28.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 800   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658503                               5.5925              2280   Yes              2YP                             42.17   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         2.750                   3.000                   1.000                     6.000            12.000            2.750                 691   Stated                                  Purchase                     Owner Occupied             SFR
      1103658540                                6.468          2,643.75   Yes              1YP                              1.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 799   Express Verified Assets                 Cash Out Refinance           Owner Occupied             2-FAMILY
      1103658544                                6.203          1,962.00   Yes              3YP                             43.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            14.000            4.125                 641   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103658545                                5.593          2,561.58   Yes              3YP                              0.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 666   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103658555                               5.8425           1473.44   No               NO                              42.62   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 702   Stated                                  Purchase                     Owner Occupied             SFR
      1103658557                                6.093          1,812.34   Yes              3YP                             44.70   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 716   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658591                               6.4675           3895.83   Yes              3YP                             43.88   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.875            2.750                 675   Stated                                  Purchase                     Owner Occupied             SFR
      1103658599                                6.593          2,263.33   Yes              3YP                             39.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            13.000            3.500                 656   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103658600                               6.3425           1402.73   Yes              3YP                             35.52   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140201                        20140301         82         3.500                   3.000                   1.000                     6.000            12.750            3.500                 689   Stated                                  Purchase                     Investor                   SFR
      1103658601                                5.718          2,450.00   No               NO                              34.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.125            3.500                 752   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103658602                               6.4675           2452.08   Yes              3YP                             40.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.875            3.500                 666   Stated                                  Purchase                     Owner Occupied             SFR
      1103658603                                5.343          1,442.29   No               NO                              40.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.750            3.500                 745   Full                                    Cash Out Refinance           Investor                   Condominium
      1103658604                                5.343          1,257.81   No               NO                              35.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.750            3.500                 745   Full                                    Cash Out Refinance           Investor                   Condominium
      1103658605                                5.718          2,552.08   No               NO                              18.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            12.125            3.500                 719   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103658606                                5.843          1,250.00   Yes              3YP                             36.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.250            3.500                 695   Stated                                  Cash Out Refinance           Investor                   SFR
      1103658607                               5.7175           2475.52   Yes              3YP                             33.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            12.125            3.500                 742   Stated                                  Purchase                     Owner Occupied             SFR
      1103658608                                5.968          1,142.19   No               NO                              44.52   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            12.375            3.500                 684   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103658609                               6.5925           2566.67   No               NO                              37.90   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            13.000            3.500                 715   Stated                                  Purchase                     Owner Occupied             SFR
      1103658610                               6.3425           2489.06   No               NO                              47.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            12.750            3.500                 719   Stated                                  Purchase                     Investor                   SFR
      1103658611                               6.5925           2566.67   Yes              3YP                             39.10   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100201                        20100301         34         3.500                   1.000                   1.000                     6.000            13.000            3.500                 658   Stated                                  Purchase                     Owner Occupied             SFR
      1103658612                                5.968          1,864.69   Yes              3YP                             31.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.375            3.500                 688   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103658613                                5.718          2,347.92   No               NO                              43.37   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.125            3.500                 746   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      1103658614                                6.343          2,986.88   Yes              3YP                             44.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.750            3.500                 652   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658615                                5.468          1,982.81   Yes              3YP                             32.86   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.875            3.500                 766   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658616                                5.843          2,109.38   Yes              3YP                             46.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.250            3.500                 804   Full                                    Cash Out Refinance           Investor                   3-FAMILY
      1103658618                               5.2175           1661.21   No               NO                              36.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.625            3.500                 690   Stated                                  Purchase                     Owner Occupied             SFR
      1103658619                               6.2175              1590   No               NO                              45.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.625            3.500                 673   Stated                                  Purchase                     Owner Occupied             SFR
      1103658620                                6.468          2,041.02   No               NO                              40.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.875            3.500                 692   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658621                                5.468          2,937.50   No               NO                              47.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.875            3.500                 777   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658622                               5.5925           1931.25   Yes              3YP                             40.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            12.000            3.500                 738   Stated                                  Purchase                     Owner Occupied             SFR
      1103658623                               6.5925           1093.75   No               NO                              37.18   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            13.000            3.500                 674   Stated                                  Purchase                     Owner Occupied             PUD
      1103658625                               4.9675           1541.95   Yes              3YP                             39.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         3.500                   3.000                   1.000                     6.000            11.375            3.500                 665   Stated                                  Purchase                     Owner Occupied             PUD
      1103658626                               5.4675           2913.02   No               NO                              29.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            11.875            3.500                 753   Stated                                  Purchase                     Owner Occupied             SFR
      1103658627                               6.5925           1859.38   No               NO                              36.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            13.000            3.500                 801   Stated                                  Purchase                     Investor                   SFR
      1103658631                                6.218          1,188.36   Yes              3YP                             49.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.625            2.750                 686   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658635                                6.218            828.13   Yes              3YP                             49.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 629   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658661                                5.218          2,952.50   Yes              3YP                             49.66   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.500            0.000                 784   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658667                               6.4675            681.37   Yes              3YP                             30.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.875            3.000                 747   Stated                                  Purchase                     Investor                   PUD
      1103658676                                5.968          4,263.28   Yes              2YP                             35.52   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 694   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      1103658689                                6.583            729.58   Yes              3YP                             31.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 665   SISA                                    Cash Out Refinance           Investor                   SFR
      1103658713                               8.7175           3132.92   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            15.125            2.500                 673   Express Non-Verified Assets             Purchase                     Investor                   SFR
      1103658715                                5.218          1,249.22   Yes              3YP                             41.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.625            3.000                 721   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103658726                                6.343          1,912.50   Yes              2YP                             40.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 641   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658757                                5.718          1,828.63   Yes              3YP                             33.10   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 732   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103658783                                7.343          2,066.02   Yes              1YP                              1.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.500                   3.000                   1.000                     6.000            13.750            2.500                 701   Express Verified Assets                 Cash Out Refinance           Owner Occupied             D-PUDS
      1103658797                               6.5925           3966.67   Yes              3YP                             43.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            3.000                 660   Stated                                  Purchase                     Owner Occupied             SFR
      1103658812                               5.4675           1982.45   Yes              3YP                             34.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 803   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103658827                                5.593          1,706.59   Yes              2YP                             37.33   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 762   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103658828                                5.968          3,864.58   No               NO                              28.49   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 765   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658831                               5.5165           2060.45   Yes              3YP                             36.54   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.799            0.000                 765   Full                                    Purchase                     Owner Occupied             SFR
      1103658832                                6.468            551.31   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 647   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103658834                               5.5925           3005.01   Yes              3YP                             18.68   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 701   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103658835                                7.343          2,944.42   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.625            0.000                 633   Express Verified Assets                 Cash Out Refinance           Owner Occupied             3-FAMILY
      1103658836                               5.7175              2350   Yes              2YP                             40.71   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 788   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103658837                                5.843          5,164.69   Yes              3YP                             28.65   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 758   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658838                                6.343          4,322.10   Yes              3YP                             48.76   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 670   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103658839                                5.968          1,685.53   No               NO                              37.44   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 754   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658840                                5.718          2,360.73   No               NO                              42.61   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 771   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658841                                5.093          1,528.72   Yes              3YP                             35.17   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.375            0.000                 781   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103658842                                5.718          2,043.27   Yes              3YP                             46.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 712   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658846                                5.843          1,270.94   No               NO                              47.73   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 773   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658851                                5.593          2,898.54   No               NO                              39.31   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 774   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103658861                               6.0925           2418.25   No               NO                               1.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 687   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103658877                                5.343          1,964.58   No               NO                              33.57   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 803   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658886                                5.718          3,088.02   No               NO                              33.51   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.125            3.000                 814   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103658899                                5.378          1,337.42   Yes              3YP                             30.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            12.625            3.625                 689   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103658908                               5.8625           1187.47   Yes              3YP                             48.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            12.690            3.500                 764   Full                                    Purchase                     Owner Occupied             SFR
      1103658915                                5.593            644.58   Yes              3YP                             36.96   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 663   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103658930                                5.593          2,542.09   Yes              3YP                             41.77   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 653   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      1103658933                               6.9675            543.91   No               NO                              37.67   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            13.375            3.000                 739   Stated                                  Purchase                     Investor                   SFR
      1103658934                               7.7175           1083.27   Yes              1YP                             43.49   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.125            3.000                 646   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103658938                                6.468          2,511.67   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 716   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103658952                                5.468            979.17   Yes              3YP                             30.43   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.875            3.000                 726   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658970                                5.843          2,858.33   Yes              2YP                             30.40   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 742   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103658989                               6.4675             425.1   Yes              3YP                             45.90   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   3.000                   1.000                     6.000            12.875            2.500                 742   Stated                                  Purchase                     Investor                   SFR
      1103658991                               5.4675           3909.94   Yes              3YP                             39.33   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 780   Stated                                  Purchase                     Owner Occupied             SFR
      1103658992                               6.8425           1894.67   Yes              6MP                             46.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 658   SISA                                    Purchase                     Owner Occupied             SFR
      1103659047                               8.2675           1654.03   Yes              3YP                             45.19   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.675            3.000                 661   Stated                                  Purchase                     Investor                   SFR
      1103659060                                5.968          1,115.63   No               NO                              32.23   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.375            3.000                 684   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103659081                                5.343          1,413.54   No               NO                              36.16   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 704   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659106                               7.8425            736.31   Yes              2YP                             42.05   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            14.250            3.000                 694   Stated                                  Purchase                     Investor                   Condominium
      1103659137                                6.593            788.31   Yes              3YP                             41.05   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 687   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659146                                7.343            831.04   Yes              3YP                             42.10   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.750            3.000                 748   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103659150                                5.968          2,507.50   Yes              3YP                             48.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 646   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103659166                                5.343          1,581.25   No               NO                               1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.750            3.000                 768   Express Verified Assets                 Cash Out Refinance           Second Home                Condominium
      1103659176                               6.5825            1584.4   Yes              2YP                             40.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 693   SISA                                    Purchase                     Investor                   SFR
      1103659180                                5.843          1,329.95   Yes              3YP                             33.48   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 721   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103659207                               5.9675           2658.33   Yes              3YP                             43.36   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 699   Full                                    Purchase                     Owner Occupied             SFR
      1103659209                                5.593          2,735.00   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 753   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103659272                                6.468          2,190.83   Yes              3YP                             44.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 724   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103659284                               6.8425           1245.79   Yes              1YP                             29.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.250            3.000                 752   Stated                                  Purchase                     Investor                   SFR
      1103659286                                6.343          1,248.61   Yes              3YP                             33.16   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 677   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103659293                                6.218            774.58   Yes              6MP                             40.25   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 770   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103659331                                5.843          1,583.33   Yes              3YP                             36.30   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 729   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103659333                               6.8425            995.18   Yes              3YP                             43.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 721   Stated                                  Purchase                     Investor                   SFR
      1103659341                               5.8425           1131.25   No               NO                              44.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.250            2.750                 698   Full                                    Purchase                     Owner Occupied             SFR
      1103659374                               7.0925              1400   Yes              3YP                             44.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 721   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103659437                                5.843          2,015.63   No               NO                              18.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 643   Full                                    Rate/Term Refinance          Investor                   SFR
      1103659442                                5.468          1,575.65   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 711   Stated                                  Cash Out Refinance           Investor                   SFR
      1103659473                                5.843          3,577.29   Yes              3YP                              1.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 630   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103659475                               5.3425           3166.11   Yes              3YP                             20.22   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.625            0.000                 771   Full                                    Purchase                     Owner Occupied             SFR
      1103659600                                5.218          2,542.97   No               NO                              19.99   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100501                        20100601         37         3.000                   3.000                   1.000                     6.000            11.625            3.000                 799   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659608                                5.968          1,859.38   Yes              3YP                             28.73   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 673   Stated                                  Cash Out Refinance           Investor                   SFR
      1103659613                               6.8425           2019.24   Yes              3YP                             42.63   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 673   Stated                                  Purchase                     Owner Occupied             SFR
      1103659637                                5.843          1,096.59   No               NO                               8.23   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         2.750                   3.000                   1.000                     6.000            12.250            2.750                 788   SISA                                    Rate/Term Refinance          Investor                   SFR
      1103659639                                5.968          1,656.28   Yes              3YP                             36.50   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 654   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103659714                                6.343          4,258.07   Yes              3YP                              1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 686   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103659727                               6.4675           2566.67   Yes              3YP                             51.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 723   Full                                    Purchase                     Investor                   2-FAMILY
      1103659728                                5.843            735.00   Yes              3YP                             44.62   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 737   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659753                                5.593          1,225.00   Yes              3YP                             53.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.000            3.000                 715   Stated                                  Cash Out Refinance           Investor                   SFR
      1103659763                                6.593          2,341.86   No               NO                              30.57   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 746   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659784                                5.843          2,965.14   Yes              3YP                             51.14   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 777   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103659804                                7.468          1,033.59   Yes              3YP                             19.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.875            3.000                   0   Stated                                  Cash Out Refinance           Second Home                SFR
      1103659836                               5.5925            2962.5   No               NO                              20.05   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100501                        20100601         37         3.000                   3.000                   1.000                     6.000            12.000            3.000                 799   Full                                    Purchase                     Investor                   SFR
      1103659838                                5.343          2,300.00   Yes              3YP                             44.57   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 774   Full                                    Rate/Term Refinance          Investor                   D-PUDS
      1103659840                               5.9675           4637.81   Yes              3YP                             45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 684   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103659859                               8.3425              1050   Yes              5YP                             21.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120101                        20120201         57         3.000                   3.000                   1.000                     6.000            14.750            3.000                   0   Full                                    Purchase                     Second Home                Condominium
      1103659884                                5.343          1,645.94   Yes              3YP                             36.14   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 786   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103659922                                5.343          3,354.17   Yes              3YP                             28.16   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 800   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103659930                                5.218          1,013.16   Yes              3YP                             45.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 763   Stated                                  Rate/Term Refinance          Investor                   3-FAMILY
      1103659944                                5.843          3,875.00   Yes              3YP                             32.10   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 670   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103659949                                6.218            599.22   Yes              3YP                             44.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 641   FISA                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103659952                                6.093            770.31   Yes              1YP                             45.24   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 693   Stated                                  Cash Out Refinance           Investor                   SFR
      1103659990                                5.093          2,833.27   Yes              2YP                             22.26   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.500            3.000                 784   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660004                               5.0925            572.92   No               NO                               1.00   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         2.750                   3.000                   1.000                     6.000            11.500            2.750                 687   Express No Doc Verified Assets          Purchase                     Owner Occupied             Condominium
      1103660022                                6.968          2,712.71   Yes              1YP                             46.59   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 680   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660033                                6.218          3,930.20   Yes              5YP                             44.87   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 662   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660039                                6.093          5,312.49   Yes              3YP                             54.49   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 797   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103660053                               5.2175           2478.75   Yes              3YP                             31.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 802   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103660065                                5.968          3,453.13   No               NO                              47.92   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 661   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660094                                6.218          1,296.63   Yes              1YP                             36.91   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 648   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      1103660127                                6.763          1,091.27   Yes              3YP                             25.03   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.170            3.000                 627   Stated                                  Cash Out Refinance           Investor                   SFR
      1103660147                                6.918            570.00   Yes              3YP                             51.38   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.200            0.000                 702   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103660170                                6.093          2,383.33   Yes              3YP                             38.45   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 736   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103660245                               6.1225           2703.75   Yes              2YP                             41.73   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.000            3.625                 768   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103660261                                6.468          1,168.75   No               NO                              43.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 663   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103660271                               5.8425           1031.25   No               NO                              43.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 800   Stated                                  Purchase                     Second Home                HI-RISE
      1103660279                                6.468            716.15   No               NO                              49.51   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            12.875            2.500                 627   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103660290                                7.093          2,489.06   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 702   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103660298                               5.2175           1911.25   Yes              3YP                             19.42   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.500            0.000                 809   Full                                    Purchase                     Owner Occupied             SFR
      1103660300                                5.593          1,750.00   Yes              3YP                             30.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 810   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103660328                                5.813          1,347.67   No               NO                              28.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.220            3.000                 685   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103660400                                6.093            916.41   Yes              3YP                             38.58   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 743   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660419                                5.968          1,732.80   Yes              3YP                             44.69   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 685   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660460                               5.4675            1809.5   Yes              3YP                             39.96   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.875            3.000                 764   Stated                                  Purchase                     Owner Occupied             SFR
      1103660469                                6.983          1,101.86   Yes              3YP                             39.96   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.265            0.000                 770   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103660480                                5.218          2,165.63   Yes              3YP                             52.77   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     6.000            11.625            5.000                 650   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103660507                               7.8125            1662.3   Yes              3YP                             46.97   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            15.250            3.875                 704   SISA                                    Purchase                     Owner Occupied             Condominium
      1103660521                                7.343          1,487.35   Yes              2YP                             29.82   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     6.000            13.750            5.000                 693   Stated                                  Cash Out Refinance           Investor                   SFR
      1103660528                                5.468            998.75   No               NO                              49.55   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.500                   3.000                   1.000                     6.000            11.875            3.500                 725   Full                                    Rate/Term Refinance          Second Home                Condominium
      1103660534                                6.093          1,896.20   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.125                   3.000                   3.000                     6.000            12.500            5.125                 672   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103660560                                5.468          1,742.92   Yes              3YP                             37.25   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 797   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103660581                                6.093          1,441.12   Yes              3YP                             26.51   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.500                   3.000                   1.000                     6.000            12.500            4.500                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660621                                7.218            653.13   No               NO                              36.41   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 645   Stated                                  Cash Out Refinance           Investor                   SFR
      1103660625                                7.718            891.00   Yes              3YP                              1.00   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            14.125            3.000                 702   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      1103660635                                6.343          2,177.06   Yes              2YP                              1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 707   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103660636                                5.968          1,434.38   Yes              3YP                             47.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 659   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103660640                                5.343          1,437.50   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 726   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             Condominium
      1103660646                                5.343          2,526.87   No               NO                              31.49   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            11.750            3.000                 756   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660651                                5.968          1,610.22   Yes              3YP                             49.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.375            2.750                 692   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103660675                               6.5925              1750   Yes              3YP                             48.63   2/6 LIBOR IO                               60    LIBOR                          6                6                             20090401                        20090501         24         3.000                   3.000                   1.000                     6.000            13.000            3.000                 751   SISA                                    Purchase                     Owner Occupied             SFR
      1103660684                               7.9675           2233.28   Yes              3YP                             32.03   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.375            3.000                 666   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103660694                                5.843          1,446.94   Yes              2YP                             42.39   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 626   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103660698                                5.593          1,050.00   Yes              1YP                             49.80   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 781   Stated                                  Cash Out Refinance           Investor                   SFR
      1103660713                                5.543          1,041.25   Yes              1YP                             49.56   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         5.950                   3.000                   1.000                     6.000            11.950            5.950                 761   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660727                                5.468            819.28   Yes              3YP                             19.92   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 654   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103660735                                5.718          4,800.12   Yes              2YP                             42.88   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.125            3.000                 776   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660797                               5.4675           1860.42   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            11.875            2.500                 729   Express Verified Assets                 Purchase                     Owner Occupied             D-PUDS
      1103660799                                5.968          1,450.31   Yes              3YP                             49.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.375            2.750                 692   Stated                                  Cash Out Refinance           Investor                   SFR
      1103660824                                5.968          1,694.69   Yes              3YP                             38.38   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 636   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660862                                5.593          1,315.00   Yes              3YP                             37.18   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 657   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103660890                               5.0925           3079.84   Yes              3YP                             46.33   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.375            0.000                 787   Full                                    Purchase                     Investor                   SFR
      1103660907                                5.718          3,436.02   No               NO                              18.67   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 796   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660914                                6.093          1,856.01   Yes              1YP                             34.88   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 773   Full                                    Cash Out Refinance           Investor                   D-PUDS
      1103660915                                6.968          2,280.10   Yes              3YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            13.375            2.875                 680   Express Verified Assets                 Cash Out Refinance           Owner Occupied             2-FAMILY
      1103660917                                6.593          2,520.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.000            2.875                 710   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103660918                               5.9675           2146.25   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.375            2.875                 684   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660920                                6.593          3,324.66   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.000            2.875                 628   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103660921                                6.093          1,978.84   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.500            2.875                 627   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103660922                               7.0625           2490.76   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         4.000                   6.000                   2.000                     6.000            15.000            4.000                 676   Express Verified Assets                 Purchase                     Second Home                PUD
      1103660924                               6.0925           1343.33   Yes              3YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            12.500            2.875                 766   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660925                                6.463          3,177.92   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.250            4.000                 687   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             PUD
      1103660926                               7.1675           1660.36   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.875            4.000                 691   Express Verified Assets                 Purchase                     Investor                   PUD
      1103660927                               6.8425           1874.24   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            13.250            2.875                 661   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660928                               7.7175            697.03   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.125            2.875                 632   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      1103660929                               7.3875            1092.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.625            3.750                 747   Express No Doc                          Purchase                     Second Home                PUD
      1103660930                               7.0575           2916.19   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.875            4.000                 644   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660931                                6.343          7,264.30   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.750            2.875                 685   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103660932                                7.093          2,072.92   Yes              1YP                             49.30   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120101                        20120201         57         2.875                   6.000                   2.000                     6.000            13.500            2.875                 637   Full                                    Cash Out Refinance           Investor                   SFR
      1103660933                               6.9425           3397.92   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 695   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660934                               6.3425           1800.68   Yes              3YP                              0.00   7/6 LIBOR BAL                                    LIBOR                          6                6                             20140201                        20140301         82         2.875                   6.000                   2.000                     6.000            12.750            2.875                 760   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660935                                7.468            439.69   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.875            2.875                 730   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      1103660936                                6.783          1,567.19   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.500            4.000                 693   Express Verified Assets                 Rate/Term Refinance          Second Home                SFR
      1103660937                               5.6775            914.27   Yes              1YP                             49.53   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            13.125            3.750                 730   Stated                                  Purchase                     Owner Occupied             PUD
      1103660938                               7.2825            623.13   Yes              1YP                             49.92   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.500            3.750                 712   Full                                    Purchase                     Investor                   SFR
      1103660939                                7.413          2,782.71   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            15.250            4.000                 661   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103660941                                5.718          2,235.81   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.125            2.875                 736   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103660942                                6.378            741.19   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.375            4.000                 656   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      1103660943                                5.903          1,153.92   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.250                   6.000                   2.000                     6.000            12.750            3.250                 743   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103660944                               6.4675           1214.58   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.875            2.875                 716   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660945                               6.4675           2625.09   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.875            2.875                 684   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660946                               6.7825           1451.46   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 633   Express Verified Assets                 Purchase                     Second Home                Condominium
      1103660947                               6.2175           1307.65   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.625            2.875                 732   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660948                               6.7175            1416.6   Yes              3YP                             44.25   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.125            2.875                 662   Stated                                  Purchase                     Owner Occupied             PUD
      1103660949                               7.2175             976.3   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.625            2.875                 693   Express Verified Assets                 Purchase                     Investor                   SFR
      1103660950                               6.9675           1446.79   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.375            2.875                 680   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103660951                               6.3425           1387.72   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            12.750            2.875                 732   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660952                               7.8425           2370.84   Yes              3YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            14.250            2.875                 675   Express No Doc                          Purchase                     Second Home                PUD
      1103660953                                7.593          1,019.93   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.000            2.875                 640   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103660954                                6.778          1,566.15   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.500                   6.000                   2.000                     6.000            13.875            3.500                 728   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103660955                                6.343          2,520.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.750            2.875                 654   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             Condominium
      1103660959                               7.2475           1199.97   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   6.000                   2.000                     6.000            14.375            3.500                 801   Express No Doc                          Purchase                     Second Home                Condominium
      1103660960                                6.218          1,176.88   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.625            2.875                 739   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103660961                                6.593          1,138.46   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.000            2.875                 739   Express Verified Assets                 Cash Out Refinance           Investor                   PUD
      1103660962                               6.4675            893.29   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.875            2.875                 722   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103660963                               7.7175           2545.83   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.125            2.875                 667   Express No Doc                          Purchase                     Owner Occupied             2-FAMILY
      1103660964                               6.6875           1583.17   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.625                   6.000                   2.000                     6.000            13.875            3.625                 751   Express No Doc                          Purchase                     Second Home                PUD
      1103660965                               5.8425           1651.01   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.250            2.875                 781   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660966                               6.7175               855   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.125            2.875                 752   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103660967                               7.4125           2071.09   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            15.250            4.000                 670   Express No Doc                          Purchase                     Second Home                SFR
      1103660968                                6.673          1,290.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.875                   6.000                   2.000                     6.000            14.000            3.875                 684   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103660969                               6.9325           1472.31   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 656   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660970                                5.593          3,576.39   Yes              3YP                             46.45   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            12.000            2.875                 708   Full                                    Rate/Term Refinance          Owner Occupied             PUD
      1103660971                                6.553          1,770.21   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.375                   6.000                   2.000                     6.000            13.500            3.375                 681   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103660972                               6.3525           1740.88   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            13.750            4.000                 654   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660973                               7.3425           1435.69   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.750            2.875                 701   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      1103660974                               6.6625           1415.27   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 690   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103660975                               7.1325           1757.96   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.625                   6.000                   2.000                     6.000            14.250            3.625                 731   Express No Doc                          Purchase                     Investor                   PUD
      1103660976                               6.4675           1304.11   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.875            2.875                 639   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103660979                                7.218          2,795.83   Yes              1YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            13.625            2.875                 702   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             Condominium
      1103660980                               6.6025           2143.69   Yes              3YP                             46.80   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 663   Stated                                  Purchase                     Owner Occupied             PUD
      1103660981                               6.4675           3809.04   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.875            2.875                 694   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660982                                7.718          1,090.78   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.125            2.875                 631   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      1103660983                               6.9325           1093.28   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.750            4.000                 653   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660984                                7.343          1,082.59   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.750            2.875                 678   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      1103660985                               6.7175           1211.25   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.125            2.875                 663   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103660986                                7.468            836.31   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.875            2.875                 635   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103660987                               6.8875           1093.49   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.125            3.750                 742   Express Verified Assets                 Purchase                     Investor                   PUD
      1103660988                                8.467          1,372.67   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.875            2.875                 620   Express Verified Assets                 Cash Out Refinance           Investor                   PUD
      1103660989                               7.0925            1749.5   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.500            2.875                 620   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103660992                                7.093            875.00   Yes              3YP                             20.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            13.500            2.750                 667   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660993                                5.718          3,828.13   Yes              1YP                             44.60   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.750                   3.000                   1.000                     6.000            12.125            2.750                 737   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660994                                6.093          2,491.13   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.500            2.750                 750   Express Verified Assets                 Rate/Term Refinance          Investor                   Condominium
      1103660995                                6.468          2,686.98   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.875            2.750                 665   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103660996                                5.968          1,785.00   Yes              1YP                             41.22   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.750                   3.000                   1.000                     6.000            12.375            2.750                 740   SISA                                    Rate/Term Refinance          Owner Occupied             Condominium
      1103660998                                5.968          1,483.34   Yes              1YP                             24.95   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 730   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103660999                                5.843          1,020.83   Yes              3YP                             51.62   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 673   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661000                                5.843          1,250.52   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 721   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103661001                                6.593            825.10   Yes              3YP                             46.14   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 732   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103661002                                6.218          1,592.50   Yes              1YP                             46.90   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 742   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103661003                                6.093          1,747.81   Yes              3YP                             40.96   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 701   SISA                                    Rate/Term Refinance          Owner Occupied             PUD
      1103661004                                6.093          1,599.06   Yes              1YP                             41.71   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 760   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103661005                                5.968            947.92   Yes              1YP                             51.78   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 775   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103661006                                6.093          1,097.03   Yes              3YP                             33.43   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 712   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103661007                                6.093          2,096.20   Yes              3YP                             47.30   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 690   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103661008                                6.093          2,491.56   Yes              1YP                             40.45   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 697   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661009                                6.593            864.52   Yes              3YP                             43.76   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 753   SISA                                    Cash Out Refinance           Owner Occupied             Condominium
      1103661010                                5.968          2,046.88   Yes              1YP                             30.30   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103661011                                6.218          1,495.00   Yes              3YP                             38.08   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 757   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103661012                                5.968          1,329.64   Yes              1YP                             44.37   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 727   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661013                                5.968          2,604.17   Yes              3YP                             43.66   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 761   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661014                                6.218          2,600.00   Yes              1YP                             44.54   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 727   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103661015                                6.093          1,168.75   Yes              1YP                             41.71   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 760   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661016                                5.968          1,507.81   Yes              3YP                             47.18   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 770   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103661017                                6.593          1,036.98   Yes              2YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 717   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103661018                                9.217            609.58   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            15.625            3.625                 698   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             Condominium
      1103661040                               6.9675           2310.83   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 700   Stated                                  Purchase                     Owner Occupied             SFR
      1103661057                                5.718          1,263.83   Yes              3YP                             30.44   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.125            3.000                 620   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661065                                8.342          3,325.00   No               NO                              20.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.750            3.000                 663   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661077                                5.468          1,037.92   Yes              3YP                             28.16   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 770   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103661082                                5.843          1,927.08   Yes              3YP                             47.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 742   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661087                                5.843          1,395.83   No               NO                              23.14   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 703   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      1103661092                                5.218          3,102.79   Yes              3YP                             28.71   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.625            3.000                 780   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      1103661120                                6.583          4,368.75   No               NO                               1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 632   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103661123                                6.343          1,057.21   Yes              3YP                             22.77   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 632   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661138                                6.718            891.51   Yes              3YP                             26.10   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 664   SISA                                    Cash Out Refinance           Owner Occupied             Condominium
      1103661147                               8.1475           1591.84   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            15.575            4.000                 731   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103661156                               8.7725           2110.09   Yes              3YP                              1.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             9.875            0.000                 719   Express Non-Verified Assets             Purchase                     Investor                   Condominium
      1103661169                                5.843          1,458.33   No               NO                              40.71   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 715   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103661176                                6.093          1,460.94   Yes              3YP                              1.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 797   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103661191                                8.792            917.34   No               NO                              38.63   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            15.200            3.200                 653   SISA                                    Cash Out Refinance           Owner Occupied             Condominium
      1103661194                                7.843          1,446.50   Yes              3YP                             30.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.250            3.000                 685   Stated                                  Cash Out Refinance           Second Home                SFR
      1103661219                                5.718          2,802.60   Yes              3YP                             49.68   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 729   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103661248                                6.218            925.57   No               NO                              35.35   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 751   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103661269                                5.708          2,024.62   Yes              3YP                             42.28   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.990            0.000                 683   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661279                               9.0925           1837.27   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            15.500            3.000                 690   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661288                                7.343            992.59   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   3.000                   1.000                     5.000            12.750            4.000                 635   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103661289                               7.2175           1348.35   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            12.625            2.250                 752   Express No Doc                          Purchase                     Investor                   SFR
      1103661290                                7.468          3,322.27   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.250                   5.000                   1.000                     5.000            12.875            2.250                 668   Express No Doc                          Rate/Term Refinance          Investor                   PUD
      1103661291                                6.593          4,316.67   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.250                   5.000                   1.000                     5.000            12.000            2.250                 668   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103661292                                6.718          1,130.50   No               NO                              43.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.250                   6.000                   2.000                     6.000            13.125            2.250                 709   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103661293                                7.218          1,489.42   No               NO                              49.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            12.625            2.250                 759   SISA                                    Cash Out Refinance           Second Home                SFR
      1103661294                               6.4875           1294.97   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.125                   3.000                   1.000                     5.000            12.875            4.125                 706   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661295                                6.343          3,937.50   No               NO                              39.76   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   6.000                   2.000                     6.000            12.750            2.750                 645   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661296                               7.5925              1530   No               NO                              50.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         4.250                   5.000                   1.000                     5.000            13.000            4.250                 693   Full                                    Purchase                     Investor                   2-FAMILY
      1103661297                               5.9675            863.28   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   6.000                   2.000                     6.000            12.375            2.750                 647   Express No Doc                          Purchase                     Second Home                PUD
      1103661299                                6.468          1,727.92   No               NO                              44.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.250                   6.000                   2.000                     6.000            12.875            2.250                 705   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661300                                7.343          1,264.83   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         4.000                   5.000                   1.000                     5.000            12.750            4.000                 762   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661301                               5.4675            813.36   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         2.250                   5.000                   1.000                     5.000            10.875            2.250                 794   Express No Doc                          Purchase                     Owner Occupied             PUD
      1103661302                               6.7175           1271.34   No               NO                              40.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.250                   6.000                   2.000                     6.000            13.125            2.250                 741   Stated                                  Purchase                     Owner Occupied             Condominium
      1103661303                                6.968            966.95   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.250                   5.000                   1.000                     5.000            12.375            2.250                 757   Express No Doc                          Cash Out Refinance           Investor                   Condominium
      1103661304                                6.218          2,765.94   No               NO                               0.00   10/1 CMT IO                               120    CMT                           12               12                             20170201                        20170301        118         2.750                   5.000                   2.000                     5.000            11.625            6.625                 799   SISA                                    Cash Out Refinance           Investor                   3-FAMILY
      1103661305                                7.343          2,886.88   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   6.000                   2.000                     6.000            13.750            2.750                 701   Express No Doc                          Cash Out Refinance           Owner Occupied             2-FAMILY
      1103661306                                8.342          1,431.72   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   6.000                   2.000                     6.000            14.750            2.750                 698   Express No Doc                          Cash Out Refinance           Investor                   2-FAMILY
      1103661307                                6.968          1,476.32   No               NO                              44.90   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            12.375            2.250                 662   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103661309                               6.2175            979.95   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            11.625            2.250                 796   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103661312                                7.583          3,099.45   No               NO                              41.44   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.990            3.000                 645   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661342                                6.343          1,684.69   Yes              2YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 628   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103661343                                7.043            667.40   Yes              3YP                             21.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.450            3.000                 756   FISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661354                                7.093          4,076.42   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 739   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103661401                                7.468          1,640.63   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.875                   3.000                   1.000                     6.000            13.875            2.875                 637   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103661403                                5.593          1,628.63   Yes              3YP                             44.78   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.000            2.750                 676   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103661437                               8.7525              1564   Yes              3YP                             30.55   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            15.600            3.500                 785   Stated                                  Purchase                     Investor                   D-PUDS
      1103661450                               5.7175           1453.67   Yes              1YP                             39.20   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.125            2.750                 725   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103661482                                5.243          1,111.17   Yes              3YP                             23.97   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.650            3.000                 763   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661529                                5.843          1,041.67   Yes              3YP                             24.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 807   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103661542                                6.468          1,506.77   Yes              1YP                             46.42   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 630   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103661563                               7.8725           3408.75   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            15.000            4.125                 702   Express No Doc Verified Assets          Purchase                     Owner Occupied             SFR
      1103661564                                7.218          1,500.00   Yes              3YP                             43.31   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 655   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661580                                5.593          2,997.75   No               NO                              33.17   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 780   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103661586                                6.468          6,445.31   Yes              3YP                             27.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 687   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103661587                                7.988          1,305.96   No               NO                              46.94   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            15.175            3.500                 664   Stated                                  Cash Out Refinance           Investor                   Condominium
      1103661593                               6.2175            786.17   No               NO                              15.32   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.625            3.000                 736   Full                                    Purchase                     Investor                   Townhouse
      1103661638                                6.718          1,710.00   Yes              1YP                             41.29   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 732   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661647                               6.9675           4470.83   No               NO                              37.49   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 642   Stated                                  Purchase                     Owner Occupied             SFR
      1103661652                               6.2175           1421.33   No               NO                               1.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 702   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661692                                6.218          1,601.04   Yes              3YP                             47.34   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         6.000                   3.000                   1.000                     6.000            12.625            6.000                 644   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661701                               8.8425           2247.75   No               NO                               1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            15.990            3.625                 722   Express Non-Verified Assets             Purchase                     Investor                   SFR
      1103661712                                6.843          3,247.16   Yes              3YP                              1.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 650   Express Non-Verified Assets             Cash Out Refinance           Investor                   SFR
      1103661724                                5.393          2,141.65   Yes              2YP                             41.69   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.800            3.000                 731   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      1103661746                                6.718          1,558.59   Yes              3YP                             39.40   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 663   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661747                               7.2175           3100.83   Yes              1YP                             47.56   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.625            3.000                 681   Stated                                  Purchase                     Owner Occupied             SFR
      1103661781                                7.428          3,757.08   Yes              3YP                             49.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.875            4.000                 662   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661783                                6.593          2,036.48   No               NO                              41.64   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 795   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661787                               7.0925            939.74   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20111201                        20120101         56         5.000                   5.000                   1.000                     5.000            12.500            5.000                 667   Express No Doc                          Purchase                     Owner Occupied             PUD
      1103661791                               7.4675           1322.95   No               NO                              40.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.875            5.000                 626   Stated                                  Purchase                     Owner Occupied             Condominium
      1103661792                                6.093          1,099.58   Yes              2YP                             18.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            11.500            5.000                 634   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661793                               7.8425           1402.45   No               NO                              36.16   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.250            5.000                 699   SISA                                    Purchase                     Owner Occupied             Condominium
      1103661794                               7.7175           1514.69   No               NO                              29.20   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.125            5.000                 648   Stated                                  Purchase                     Owner Occupied             Condominium
      1103661795                                7.593          1,496.88   Yes              2YP                             43.82   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.000            5.000                 641   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103661796                               7.2175           1303.37   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 695   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661797                               7.3425           1343.01   No               NO                              22.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.750            5.000                 694   SISA                                    Purchase                     Owner Occupied             PUD
      1103661804                               7.2175           6354.17   Yes              2YP                             37.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            12.625            5.000                 667   SISA                                    Purchase                     Owner Occupied             SFR
      1103661806                               6.4675           5729.17   No               NO                              28.37   5/6 LIBOR IO                              120    LIBOR                          6                6                             20111201                        20120101         56         5.000                   5.000                   1.000                     5.000            11.875            5.000                 708   Stated                                  Purchase                     Owner Occupied             SFR
      1103661807                               7.5925           6666.67   Yes              2YP                             32.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.000            5.000                 698   SISA                                    Purchase                     Second Home                SFR
      1103661808                               7.2175            876.87   No               NO                              44.73   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 660   Stated                                  Purchase                     Owner Occupied             PUD
      1103661809                               7.0925               875   No               NO                              45.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.500            5.000                 756   Stated                                  Purchase                     Investor                   Condominium
      1103661810                               7.0925               875   No               NO                              47.21   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.500            5.000                 756   Stated                                  Purchase                     Investor                   Condominium
      1103661811                               7.8425            979.03   No               NO                              37.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 638   SISA                                    Purchase                     Owner Occupied             SFR
      1103661813                               6.9675            909.58   Yes              2YP                             41.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.375            5.000                 657   Stated                                  Purchase                     Owner Occupied             PUD
      1103661815                               7.4675            781.62   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 695   Express No Doc Verified Assets          Purchase                     Owner Occupied             SFR
      1103661816                               7.5925               720   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 752   Express No Doc Verified Assets          Purchase                     Second Home                Condominium
      1103661818                                7.468            359.63   No               NO                              44.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 740   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661819                                7.968            420.70   Yes              2YP                             28.01   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 627   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661820                                7.968            484.55   Yes              2YP                             48.90   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 627   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661821                               7.8425            496.02   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.250            5.000                 655   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661822                                7.343            487.16   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 709   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661825                                7.593            544.00   Yes              1YP                             15.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 660   SISA                                    Cash Out Refinance           Investor                   SFR
      1103661826                               7.8425            619.04   No               NO                              31.63   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.250            5.000                 735   Stated                                  Purchase                     Investor                   SFR
      1103661827                               7.1425            569.25   Yes              5YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 693   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661829                               7.3425            567.82   No               NO                              16.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.750            5.000                 747   Stated                                  Purchase                     Investor                   SFR
      1103661830                                6.968            621.61   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.375            5.000                 696   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103661831                               7.4675            597.45   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.875            5.000                 674   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661833                               7.8425            646.25   No               NO                              27.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 642   Stated                                  Purchase                     Owner Occupied             SFR
      1103661834                               7.9675            717.51   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 677   Express No Doc                          Purchase                     Investor                   PUD
      1103661835                               7.7175            747.69   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.125            5.000                 679   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661836                               6.8425             623.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.250            5.000                 743   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661839                               7.0925            656.25   No               NO                              46.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.500            5.000                 698   Stated                                  Purchase                     Owner Occupied             SFR
      1103661841                               7.9675            764.92   No               NO                              48.29   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 659   Stated                                  Purchase                     Owner Occupied             SFR
      1103661842                                7.593            810.08   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.000            5.000                 658   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661843                               7.9675             770.5   No               NO                              33.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 625   Stated                                  Purchase                     Owner Occupied             Condominium
      1103661844                               7.8425            841.42   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 672   Express No Doc                          Purchase                     Investor                   Condominium
      1103661845                               6.4675            750.61   No               NO                              37.76   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            11.875            5.000                 639   Stated                                  Purchase                     Owner Occupied             PUD
      1103661846                                7.968            804.00   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.375            5.000                 643   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103661848                               7.8425            871.47   Yes              2YP                             31.01   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 707   SISA                                    Purchase                     Owner Occupied             Condominium
      1103661849                                7.593            773.33   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   5.000                   1.000                     5.000            13.000            5.000                 670   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661850                               7.4675            773.98   Yes              3YP                             31.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 664   SISA                                    Purchase                     Owner Occupied             Condominium
      1103661851                               7.7175               891   No               NO                              37.34   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.125            5.000                 721   SISA                                    Purchase                     Owner Occupied             SFR
      1103661852                                7.468            870.08   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 782   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661853                               6.9675             737.5   No               NO                              40.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.375            5.000                 765   Stated                                  Purchase                     Investor                   SFR
      1103661854                               7.5925            892.26   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.000            5.000                 698   Express No Doc                          Purchase                     Investor                   2-FAMILY
      1103661855                               7.9675            865.42   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 641   Express No Doc                          Purchase                     Investor                   PUD
      1103661856                                7.843            859.38   No               NO                              19.36   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   5.000                   1.000                     5.000            13.250            5.000                 648   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661857                               7.8425             863.5   No               NO                              38.75   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 622   Stated                                  Purchase                     Owner Occupied             SFR
      1103661859                               7.4675            830.97   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 719   Express No Doc                          Purchase                     Investor                   PUD
      1103661860                                7.093          1,322.50   Yes              2YP                             44.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.500            5.000                 648   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661861                                7.468          1,391.25   Yes              1YP                             34.24   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.875            5.000                 723   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661862                               7.0925              1335   No               NO                              41.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20111201                        20120101         56         5.000                   5.000                   1.000                     5.000            12.500            5.000                 737   SISA                                    Purchase                     Owner Occupied             PUD
      1103661863                               7.4675           1402.73   Yes              2YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20111201                        20120101         56         4.000                   6.000                   2.000                     6.000            13.875            4.000                 623   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661864                               7.9675            1507.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 679   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661865                               7.4675            1438.5   No               NO                              45.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 638   Stated                                  Purchase                     Owner Occupied             PUD
      1103661866                               7.3425           1420.83   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.750            5.000                 690   Express Verified Assets                 Purchase                     Investor                   SFR
      1103661867                               7.9675           1562.78   Yes              2YP                             35.31   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.375            5.000                 623   Stated                                  Purchase                     Owner Occupied             SFR
      1103661868                               7.0925           1399.69   No               NO                              15.29   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.500            5.000                 665   Stated                                  Purchase                     Owner Occupied             PUD
      1103661870                               7.5925            879.47   No               NO                              39.26   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 654   Stated                                  Purchase                     Owner Occupied             SFR
      1103661872                               7.7175           1055.71   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.125            5.000                 771   Express Non-Verified Assets             Purchase                     Second Home                Condominium
      1103661873                                6.718            926.25   Yes              2YP                             18.05   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.125            5.000                 783   SISA                                    Cash Out Refinance           Investor                   Condominium
      1103661874                                7.593          1,150.18   No               NO                              41.45   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 746   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103661877                               6.3425            898.59   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            11.750            5.000                 718   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103661878                               7.7175              1188   No               NO                              21.60   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.125            5.000                 687   SISA                                    Purchase                     Owner Occupied             3-FAMILY
      1103661879                               6.9675            994.17   No               NO                              41.54   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.375            5.000                 795   Alternative                             Purchase                     Investor                   PUD
      1103661881                                7.593          1,105.00   No               NO                              20.79   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 634   SISA                                    Cash Out Refinance           Investor                   SFR
      1103661882                                7.468          1,089.38   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 702   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661883                               7.0925           1049.69   No               NO                              39.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.500            5.000                 653   Stated                                  Purchase                     Owner Occupied             Townhouse
      1103661884                                7.343          1,203.57   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 671   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103661885                               7.9675           1284.52   No               NO                              31.40   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 630   Stated                                  Purchase                     Owner Occupied             SFR
      1103661886                                7.468          1,229.72   No               NO                              30.54   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 677   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661887                               7.9675           1299.72   No               NO                              32.15   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 809   Alternative                             Purchase                     Investor                   SFR
      1103661888                               8.0925           1334.91   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.500            5.000                 655   Express Verified Assets                 Purchase                     Second Home                SFR
      1103661890                               7.5925            1172.8   No               NO                              43.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 654   Stated                                  Purchase                     Owner Occupied             SFR
      1103661892                               6.5925           1026.67   Yes              2YP                             41.37   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.000            5.000                 673   Full                                    Purchase                     Owner Occupied             Condominium
      1103661893                                6.468          1,026.09   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            11.875            5.000                 698   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103661894                               7.3425            1162.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 782   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103661895                               7.2175           1302.34   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 707   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103661897                                7.468          1,207.50   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 701   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      1103661898                               7.8425           1289.06   No               NO                              46.41   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 639   Stated                                  Purchase                     Owner Occupied             PUD
      1103661899                               7.4675           1363.17   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         5.000                   3.000                   1.000                     5.000            12.875            5.000                 634   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103661900                                6.718          1,116.25   Yes              2YP                             35.14   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.125            5.000                 687   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661901                                7.738          1,469.53   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            14.375            5.000                 679   Express No Doc                          Rate/Term Refinance          Owner Occupied             Condominium
      1103661903                               7.8425           1316.91   No               NO                              57.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 695   Stated                                  Purchase                     Investor                   Condominium
      1103661904                               6.9675            1326.1   No               NO                              45.38   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         5.000                   5.000                   1.000                     5.000            12.375            5.000                 711   Stated                                  Purchase                     Investor                   3-FAMILY
      1103661905                               7.9675           1355.91   No               NO                              43.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 628   Stated                                  Purchase                     Owner Occupied             SFR
      1103661907                                7.468          1,281.66   Yes              2YP                             47.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 653   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661910                               7.7175           1343.33   Yes              2YP                             21.05   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.125            5.000                 674   Stated                                  Purchase                     Owner Occupied             Condominium
      1103661912                               7.0925           1429.73   Yes              2YP                             47.76   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.500            5.000                 641   Stated                                  Purchase                     Owner Occupied             PUD
      1103661913                                7.218          1,453.83   No               NO                              32.52   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.625            5.000                 628   SISA                                    Cash Out Refinance           Investor                   SFR
      1103661915                                7.093          1,622.18   No               NO                              40.60   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         5.000                   5.000                   1.000                     5.000            12.500            5.000                 685   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661916                                7.593          1,557.33   Yes              2YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20111201                        20120101         56         4.000                   5.000                   2.000                     6.000            14.000            4.000                 635   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103661917                                5.968          1,469.21   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            11.375            5.000                 752   Express Verified Assets                 Cash Out Refinance           Investor                   3-FAMILY
      1103661918                               7.9675           1647.08   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 759   Express No Doc                          Purchase                     Investor                   SFR
      1103661921                               7.8425            1644.5   No               NO                              44.10   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.250            5.000                 685   SISA                                    Purchase                     Owner Occupied             SFR
      1103661922                                7.843          1,833.09   No               NO                              42.92   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 677   SISA                                    Cash Out Refinance           Investor                   3-FAMILY
      1103661923                               6.8425           1488.67   No               NO                              36.14   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.250            5.000                 716   Stated                                  Purchase                     Owner Occupied             SFR
      1103661924                               6.5925           1442.58   Yes              2YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         4.000                   5.000                   1.000                     5.000            12.000            4.000                 643   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661925                               6.5925           1444.85   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.000            5.000                 652   Express No Doc                          Purchase                     Owner Occupied             PUD
      1103661926                               7.9675           1730.83   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 670   Express No Doc                          Purchase                     Investor                   SFR
      1103661927                               7.0925              1555   No               NO                              42.79   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.500            5.000                 627   Stated                                  Purchase                     Owner Occupied             SFR
      1103661928                                6.843          1,510.42   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.250            5.000                 801   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103661929                                7.468          1,827.17   Yes              5YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.875            5.000                 663   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      1103661930                               8.2175           2086.09   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            14.875            5.000                 635   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103661931                               7.7175           1900.79   No               NO                              45.83   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.125            5.000                 644   Stated                                  Purchase                     Owner Occupied             PUD
      1103661932                               7.4675              1680   No               NO                              26.54   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.875            5.000                 642   Stated                                  Purchase                     Owner Occupied             SFR
      1103661933                               7.7175           1751.95   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.125            5.000                 699   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103661935                               7.8425           1953.29   No               NO                              43.25   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 770   Stated                                  Purchase                     Investor                   SFR
      1103661936                                6.843          1,798.90   No               NO                              39.59   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.250            5.000                 708   Stated                                  Cash Out Refinance           Second Home                PUD
      1103661937                                7.968          2,036.99   No               NO                              41.87   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.375            5.000                 723   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661938                                6.968          1,659.37   Yes              2YP                             29.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.375            5.000                 678   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661939                                7.218          1,715.62   No               NO                              41.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 649   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661940                                6.593          1,811.29   Yes              2YP                             43.30   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         4.000                   3.000                   2.000                     6.000            13.000            4.000                 802   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103661942                               7.3425           1787.67   No               NO                              38.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.750            5.000                 632   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      1103661945                                7.468          2,059.20   No               NO                              43.49   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 626   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661946                                7.593          1,898.67   No               NO                              45.90   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.000            5.000                 621   SISA                                    Cash Out Refinance           Investor                   SFR
      1103661947                               7.9675              2010   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 734   Express Non-Verified Assets             Purchase                     Investor                   PUD
      1103661949                                6.093          1,581.67   No               NO                              38.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            11.500            5.000                 735   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103661950                                6.968          1,794.58   Yes              5YP                             31.34   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.375            5.000                 673   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661951                               7.8425              2035   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20111201                        20120101         56         2.250                   5.000                   2.000                     6.000            14.250            4.000                 671   Express Verified Assets                 Purchase                     Investor                   SFR
      1103661952                               6.4675           1714.17   Yes              2YP                             30.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            11.875            5.000                 707   Stated                                  Purchase                     Owner Occupied             SFR
      1103661953                               7.4675           2177.53   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 701   Express Verified Assets                 Purchase                     Second Home                PUD
      1103661954                               7.2175           1931.67   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 679   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661955                               7.2175           1941.52   No               NO                              34.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 693   SISA                                    Purchase                     Owner Occupied             PUD
      1103661956                               7.2175           1941.83   No               NO                              44.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.625            5.000                 644   Stated                                  Purchase                     Owner Occupied             PUD
      1103661958                               7.4675              2058   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 708   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661959                               8.6975           2661.19   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            15.125            5.000                 638   NINA                                    Purchase                     Owner Occupied             2-FAMILY
      1103661960                               7.3425           2050.65   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.750            5.000                 694   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103661961                               7.0925           2000.94   No               NO                              33.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.500            5.000                 697   Stated                                  Purchase                     Owner Occupied             PUD
      1103661962                                7.593          2,406.75   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.000            5.000                 681   Express No Doc                          Cash Out Refinance           Investor                   3-FAMILY
      1103661963                               6.7325           2293.42   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.500            5.000                 784   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103661964                               7.0925           2063.75   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.500            5.000                 685   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103661965                               6.7175           1969.47   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.125            5.000                 715   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103661966                                7.093          2,093.75   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.500            5.000                 641   Express No Doc                          Cash Out Refinance           Investor                   PUD
      1103661967                               7.9675              2345   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 672   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661968                               6.8425           2096.46   No               NO                              28.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.250            5.000                 638   SISA                                    Purchase                     Owner Occupied             PUD
      1103661969                                6.218          1,932.29   Yes              2YP                             41.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            11.625            5.000                 663   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103661970                                7.593          2,400.00   No               NO                              22.25   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 750   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661972                               7.9675           2814.23   No               NO                              40.89   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 637   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      1103661974                               6.5925           2229.38   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.000            5.000                 690   Express Verified Assets                 Purchase                     Second Home                PUD
      1103661975                                6.843          2,612.74   No               NO                              29.34   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.250            5.000                 662   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661976                               7.3425              2480   Yes              1YP                             39.59   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 719   Alternative                             Purchase                     Owner Occupied             3-FAMILY
      1103661978                               6.5925           2263.33   Yes              2YP                             39.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.000            5.000                 632   Stated                                  Purchase                     Owner Occupied             PUD
      1103661979                               6.7175            2327.5   Yes              2YP                             41.49   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.125            5.000                 661   Stated                                  Purchase                     Owner Occupied             PUD
      1103661981                               7.7175           2675.83   No               NO                              34.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20111201                        20120101         56         5.000                   3.000                   1.000                     5.000            13.125            5.000                 654   Stated                                  Purchase                     Owner Occupied             SFR
      1103661982                               6.8425           2400.35   No               NO                              25.91   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.250            5.000                 668   SISA                                    Purchase                     Owner Occupied             PUD
      1103661987                                6.468          2,360.42   No               NO                              35.40   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            11.875            5.000                 708   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661988                                6.843          2,492.19   No               NO                              35.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.250            5.000                 647   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661990                               7.8425              3465   No               NO                              44.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 662   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      1103661991                               7.8425            3789.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.250            5.000                 693   Express Verified Assets                 Purchase                     Owner Occupied             3-FAMILY
      1103661993                               7.8425            3030.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 721   Express Verified Assets                 Purchase                     Investor                   4-FAMILY
      1103661995                               7.3425           3206.18   Yes              2YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 627   Express Verified Assets                 Purchase                     Second Home                SFR
      1103661996                                7.968          3,344.32   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            13.375            5.000                 727   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103661998                               6.5325           2718.75   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.250            5.000                 757   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103661999                               7.7175           3385.19   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20111201                        20120101         56         5.000                   5.000                   1.000                     5.000            13.125            5.000                 662   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662000                               7.3425           2978.91   Yes              2YP                             46.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.750            5.000                 657   Stated                                  Purchase                     Owner Occupied             Condominium
      1103662001                               6.9675           2851.62   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.375            5.000                 661   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103662003                               7.3425           3031.22   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.750            5.000                 763   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103662004                                7.343          3,100.00   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 680   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662005                                7.968          3,350.00   No               NO                              44.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 664   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103662006                                7.093          3,125.00   Yes              2YP                             41.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         4.000                   5.000                   1.000                     5.000            12.500            4.000                 659   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103662007                               6.9675           3180.47   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.375            5.000                 745   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103662008                               7.0925           3263.44   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.500            5.000                 674   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103662010                               6.9675           3318.75   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.375            5.000                 745   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103662011                               6.9675           3318.75   No               NO                              38.42   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.375            5.000                 664   SISA                                    Purchase                     Owner Occupied             Condominium
      1103662012                               6.9675           3318.75   Yes              2YP                             36.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.375            5.000                 684   SISA                                    Purchase                     Investor                   Condominium
      1103662013                                7.468          3,570.00   No               NO                              42.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103662014                               6.8425           3294.88   Yes              2YP                             39.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.250            5.000                 697   Stated                                  Purchase                     Investor                   SFR
      1103662015                               7.9675            3868.2   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.375            5.000                 660   Express No Doc Verified Assets          Purchase                     Owner Occupied             SFR
      1103662018                                7.468          3,957.19   No               NO                              43.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 681   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103662020                                7.218          3,990.42   No               NO                              37.31   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.625            5.000                 736   Alternative                             Cash Out Refinance           Investor                   SFR
      1103662021                               7.5925           4266.67   No               NO                              45.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.000            5.000                 655   Stated                                  Purchase                     Owner Occupied             Condominium
      1103662023                               6.5925           4083.33   No               NO                              35.45   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.000            5.000                 754   Stated                                  Purchase                     Owner Occupied             SFR
      1103662024                               7.8425              4950   No               NO                              32.54   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 679   Stated                                  Purchase                     Owner Occupied             PUD
      1103662027                               7.3425           5033.08   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   5.000                   1.000                     5.000            12.750            5.000                 666   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103662028                               6.9675           4916.67   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.375            5.000                 801   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662029                               7.8425              5720   No               NO                              35.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            13.250            5.000                 697   Stated                                  Purchase                     Investor                   PUD
      1103662030                                7.343          5,425.00   Yes              2YP                             15.24   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.750            5.000                 630   SISA                                    Cash Out Refinance           Investor                   SFR
      1103662033                                7.468          6,152.34   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 703   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103662072                                6.843          1,933.33   Yes              3YP                             44.02   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 631   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103662082                                5.343          1,313.04   Yes              3YP                             50.82   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 762   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103662112                                6.838          2,090.16   Yes              2YP                             45.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.875            3.875                 664   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      1103662130                                5.843          2,046.77   Yes              2YP                             44.36   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 803   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103662157                                7.468          2,723.44   Yes              1YP                             43.31   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.875            3.000                 683   SISA                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      1103662166                                6.843          1,252.44   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.250            2.875                 728   Express Verified Assets                 Rate/Term Refinance          Investor                   PUD
      1103662169                                6.218          2,318.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.625            2.875                 712   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662170                                6.593          2,735.72   Yes              3YP                             41.50   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.000            2.875                 712   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103662171                                6.843          2,135.86   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.250            2.875                 644   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662172                                6.068          1,220.08   Yes              3YP                             38.27   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.500                   6.000                   2.000                     6.000            13.125            3.500                 681   Full                                    Rate/Term Refinance          Investor                   Condominium
      1103662173                                7.093          1,912.50   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.500            2.875                 644   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662174                               6.2525           1733.79   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.250                   6.000                   2.000                     6.000            13.000            3.250                 786   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662175                                6.718          1,353.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.125            2.875                 670   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      1103662177                                6.343          1,620.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.750            2.875                 774   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662179                                6.968          1,427.47   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            13.375            2.875                 738   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      1103662184                               6.8275            1889.1   No               NO                               0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         3.500                   6.000                   2.000                     6.000            13.875            3.500                 804   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103662185                               6.5075           1660.41   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.875            3.875                 706   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662186                               7.3075           1056.55   No               NO                              44.37   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.875            4.000                 652   Full                                    Purchase                     Investor                   SFR
      1103662187                               6.8475           1499.52   No               NO                               0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         4.000                   3.000                   1.000                     6.000            15.125            4.000                 679   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662188                               7.9675           2086.77   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.375            2.875                 754   Express Verified Assets                 Purchase                     Investor                   4-FAMILY
      1103662189                                7.343          5,063.33   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.750            2.875                 635   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103662190                               6.8425           2964.88   Yes              1YP                             40.74   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.250            2.875                 770   Full                                    Purchase                     Investor                   PUD
      1103662191                                6.818          1,419.14   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            13.875            3.625                 747   Express Verified Assets                 Rate/Term Refinance          Second Home                SFR
      1103662192                                7.323          1,560.63   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   6.000                   2.000                     6.000            14.250            3.500                 786   Express No Doc                          Rate/Term Refinance          Second Home                SFR
      1103662194                                6.743            860.69   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.000            3.750                 730   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      1103662195                                7.138          1,538.21   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.375            3.750                 767   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103662198                                5.968            790.90   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            12.375            2.875                 683   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662201                               6.7175            549.82   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.125            2.875                 790   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103662202                                7.218          1,121.11   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.625            2.875                 692   Express No Doc                          Cash Out Refinance           Investor                   PUD
      1103662203                               6.8425            884.02   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 728   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103662204                                6.218          1,854.48   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            12.625            2.875                 661   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103662205                               6.7175           2061.58   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.125            2.875                 651   Express Verified Assets                 Purchase                     Second Home                PUD
      1103662207                               7.5175            772.86   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   6.000                   2.000                     6.000            14.875            3.875                 714   Express Verified Assets                 Purchase                     Investor                   SFR
      1103662209                                6.843            946.71   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     5.875            13.125            2.875                 626   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662210                               6.1375           1485.22   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            13.375            3.750                 722   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103662211                                6.593          1,448.85   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.000            2.875                 700   Express No Doc                          Cash Out Refinance           Second Home                PUD
      1103662212                               6.1175           1817.76   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.875            2.875                 696   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662213                                6.143          1,239.58   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.500                   6.000                   2.000                     6.000            13.000            3.500                 695   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103662215                                6.968          1,302.92   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.375            2.875                 677   Express Verified Assets                 Rate/Term Refinance          Second Home                SFR
      1103662216                               7.2175           1169.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.625            2.875                 698   Express Verified Assets                 Purchase                     Investor                   PUD
      1103662217                               6.8175           1752.58   Yes              3YP                             48.76   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         4.000                   6.000                   2.000                     6.000            14.625            4.000                 668   Stated                                  Purchase                     Owner Occupied             SFR
      1103662218                                7.093          1,069.80   Yes              3YP                              0.00   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.500            2.875                 711   Express No Doc                          Cash Out Refinance           Owner Occupied             HI-RISE
      1103662219                                7.968            752.47   Yes              3YP                             40.94   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.375            2.875                 645   Full                                    Cash Out Refinance           Investor                   2-FAMILY
      1103662222                                6.343            687.83   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            12.750            2.875                 767   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      1103662223                                6.343          2,278.13   Yes              3YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            12.750            2.875                 731   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103662224                                6.468          1,432.29   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            12.875            2.875                 670   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662225                                6.913          1,370.63   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.500            4.000                 655   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103662226                               6.9675            653.92   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.375            2.875                 721   Express No Doc                          Purchase                     Second Home                Condominium
      1103662227                               6.5075           1522.65   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.875                   6.000                   2.000                     6.000            13.875            3.875                 707   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662229                                7.283          2,318.27   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.500            3.750                 683   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103662230                                6.968            939.32   Yes              1YP                              0.00   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.375            2.875                 623   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      1103662231                                6.593            866.25   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.000            2.875                 636   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103662232                               6.5675           2231.07   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            13.875            3.750                 702   Express Verified Assets                 Purchase                     Investor                   PUD
      1103662233                               7.1375           1086.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.375            3.750                 744   Express Verified Assets                 Purchase                     Investor                   PUD
      1103662234                                7.468          4,458.66   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 621   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      1103662270                                6.573          2,596.94   Yes              3YP                             42.39   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 710   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103662280                               6.2175           1219.83   No               NO                               1.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 686   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      1103662283                                5.718          1,347.50   Yes              2YP                             42.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 699   Stated                                  Cash Out Refinance           Investor                   SFR
      1103662288                                5.593          2,075.00   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 789   Express No Doc Verified Assets          Cash Out Refinance           Owner Occupied             SFR
      1103662300                                5.343          2,415.00   Yes              3YP                             44.34   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 684   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103662312                                5.468          2,447.92   No               NO                              30.56   5/1 LIBOR IO                              120    LIBOR                         12               12                             20120101                        20120201         57         2.500                   2.000                   2.000                     6.000            11.875            2.500                 660   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      1103662330                                6.843          3,286.67   Yes              3YP                             47.91   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         2.750                   3.000                   1.000                     6.000            13.250            7.250                 668   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103662332                                7.718          2,691.95   Yes              3YP                             11.82   5/1 LIBOR IO                               60    LIBOR                         12               12                             20120401                        20120501         60         2.750                   5.000                   1.000                     5.000            13.125            2.750                 645   Stated                                  Rate/Term Refinance          Investor                   Condominium
      1103662340                                6.468          1,864.84   Yes              3YP                             35.25   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.500                   3.000                   1.000                     6.000            12.875            3.500                 738   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103662383                                5.968          1,966.42   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 715   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103662400                                7.368            725.32   Yes              3YP                              0.00   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.775            3.000                 782   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103662432                               7.2175           1194.58   Yes              1YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.500                   3.000                   1.000                     6.000            13.625            3.500                 717   Express Verified Assets                 Purchase                     Second Home                Condominium
      1103662448                               6.8425           5606.67   Yes              1YP                             44.03   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 706   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      1103662480                               7.0025           3478.98   Yes              3YP                             40.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            13.990            3.750                 767   Stated                                  Purchase                     Owner Occupied             SFR
      1103662494                                6.218            984.35   Yes              3YP                             39.50   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 670   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103662503                                9.092          1,109.93   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            15.500            3.000                 662   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103662507                                6.218          2,063.69   Yes              2YP                             48.97   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            12.625            2.750                 666   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103662512                               7.0925            836.41   Yes              1YP                             25.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                   0   Stated                                  Purchase                     Second Home                Condominium
      1103662531                                7.343          1,343.33   Yes              3YP                             46.23   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 637   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103662564                                6.583          2,012.34   No               NO                              45.88   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.500            4.000                 638   SISA                                    Cash Out Refinance           Owner Occupied             PUD
      1103662569                                6.468          2,681.25   Yes              3YP                             41.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 696   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103662601                                6.343          2,025.00   Yes              5YP                             48.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 700   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103662663                                6.468            940.47   Yes              3YP                             22.91   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 677   Full                                    Cash Out Refinance           Owner Occupied             SFR
      1103662668                               5.4675           1523.58   Yes              1YP                             41.62   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.875            3.000                 712   Stated                                  Purchase                     Owner Occupied             Condominium
      1103662693                                5.968          2,454.38   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 689   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      1103662735                                5.968          2,576.56   No               NO                              51.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 709   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103662753                               5.4675            2232.5   No               NO                              38.18   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.875            3.000                 718   SISA                                    Purchase                     Owner Occupied             SFR
      1103662757                               8.9675           1218.75   No               NO                              33.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            15.375            3.000                 690   SISA                                    Purchase                     Investor                   SFR
      1103662771                               6.5825            2236.8   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 698   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103662812                               6.8625           2436.16   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            14.250            3.875                 708   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103662845                                6.593          1,936.67   Yes              3YP                             25.01   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.000            3.000                 783   Stated                                  Cash Out Refinance           Investor                   SFR
      1103662885                                7.093          1,531.25   Yes              2YP                              1.00   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090301                        20090401         23         2.875                   3.000                   1.000                     6.000            13.500            2.875                 646   Express Non-Verified Assets             Rate/Term Refinance          Investor                   SFR
      1103662897                               7.2175            541.88   Yes              3YP                             30.64   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.500            0.000                 631   Stated                                  Purchase                     Investor                   SFR
      1103663049                                8.692            811.83   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            15.100            3.000                 754   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103663092                                6.593          3,225.83   Yes              3YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.000            3.000                 670   Express Verified Assets                 Rate/Term Refinance          Investor                   HI-RISE
      1103663135                               7.5425              3180   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.950            3.000                 742   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103663313                                6.343          2,353.50   Yes              3YP                              1.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 654   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103663337                               8.8425           1338.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            15.250            9.250                 726   Stated                                  Purchase                     Investor                   4-FAMILY
      1103663343                               8.2175           3382.73   Yes              1YP                             29.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            14.625            8.625                 701   Stated                                  Purchase                     Investor                   4-FAMILY
      1103663354                               6.8425              1748   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 704   Express Non-Verified Assets             Purchase                     Owner Occupied             D-PUDS
      1103663356                               8.9525           1292.53   Yes              1YP                             40.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.500                   3.000                   1.000                     6.000            16.000            4.500                 726   Stated                                  Purchase                     Investor                   D-PUDS
      1103663365                               7.5825           1251.77   Yes              1YP                             28.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            13.990            7.990                 678   Stated                                  Purchase                     Owner Occupied             SFR
      1103663519                               5.8425            726.08   Yes              3YP                             32.91   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 790   Full                                    Purchase                     Owner Occupied             SFR
      1103663537                                7.093          1,675.00   Yes              6MP                             23.60   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090301                        20090401         23         2.875                   3.000                   1.000                     6.000            13.500            2.875                 658   Stated                                  Cash Out Refinance           Second Home                SFR
      1103663569                                6.968            844.32   Yes              3YP                             30.70   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 677   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103663625                               7.4675            811.17   No               NO                              32.04   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.750            0.000                 759   Stated                                  Purchase                     Investor                   SFR
      1103663638                               6.9675            832.26   Yes              3YP                             49.54   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 650   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103663705                                6.843          1,063.33   Yes              3YP                             40.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            13.250            7.250                 673   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103663861                               6.8925           1165.47   Yes              3YP                             25.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.300            3.000                   0   Full                                    Purchase                     Second Home                Condominium
      1103663873                                6.858          1,824.17   Yes              3YP                             44.70   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            14.375            8.375                 630   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      1103664231                               7.3425           1089.53   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.750            2.875                 733   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664232                                7.468          1,233.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.875                   6.000                   2.000                     6.000            13.875            2.875                 622   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103664241                               7.6925           1352.81   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            15.000            3.750                 706   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664242                               7.4425           1260.84   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.750            3.750                 706   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664248                               7.2825           1026.33   No               NO                              41.38   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            14.500            3.750                 735   Full                                    Purchase                     Investor                   2-FAMILY
      1103664253                               6.9075             613.1   No               NO                              42.37   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.125            3.750                 713   Full                                    Purchase                     Investor                   SFR
      1103664259                               6.9425            850.75   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.250            3.750                 709   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664260                                7.218          1,531.67   Yes              3YP                              0.00   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.625            2.875                 641   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103664261                               6.4075            586.48   Yes              3YP                             37.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            13.625            3.750                 767   Full                                    Purchase                     Investor                   SFR
      1103664262                               7.7175           1299.32   Yes              3YP                             39.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.125            2.875                 628   Stated                                  Purchase                     Owner Occupied             Condominium
      1103664263                               7.4675               798   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 686   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      1103664266                               7.6175           2569.01   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.875            3.750                 724   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      1103664270                               7.0125           1546.79   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.250            3.750                 762   Express Verified Assets                 Purchase                     Investor                   PUD
      1103664276                               6.4675           2205.73   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            12.875            2.875                 686   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664281                               7.1175           1339.92   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.875            4.000                 687   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664284                               7.1875           2192.87   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            14.375            3.625                 767   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664285                               7.1875           1208.41   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            14.375            3.625                 767   Express Verified Assets                 Purchase                     Investor                   SFR
      1103664290                                7.343          2,987.95   No               NO                              48.81   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.750            2.875                 653   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      1103664292                               6.8425            850.16   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            13.250            2.875                 757   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664300                                8.467          1,146.35   Yes              3YP                             42.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.875            2.875                 630   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      1103664301                                8.467          1,567.92   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.875            2.875                 627   Express No Doc                          Cash Out Refinance           Investor                   PUD
      1103664310                               6.0625           1354.54   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            13.250            3.750                 707   Express No Doc                          Purchase                     Second Home                SFR
      1103664311                               7.7175            880.89   Yes              3YP                              9.23   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.125            2.875                 634   Stated                                  Purchase                     Owner Occupied             SFR
      1103664314                               7.4175           3250.52   Yes              3YP                             33.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            15.875            4.000                 655   Stated                                  Purchase                     Owner Occupied             SFR
      1103664316                               7.1575           1335.79   Yes              3YP                             49.91   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            14.375            3.750                 748   Full                                    Purchase                     Investor                   SFR
      1103664318                                7.593          5,515.91   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         2.875                   6.000                   2.000                     6.000            14.000            2.875                 626   Express No Doc                          Rate/Term Refinance          Owner Occupied             SFR
      1103664321                               7.0925           2372.34   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.750            4.000                 695   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664324                               7.3075           3808.76   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.875            4.000                 663   Express No Doc                          Purchase                     Owner Occupied             PUD
      1103664327                               6.1375            798.09   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.750                   6.000                   2.000                     6.000            13.375            3.750                 727   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664328                               6.5175            2158.8   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            13.625            3.625                 775   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664331                               6.6575           2064.48   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.625            4.000                 660   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103664335                               6.8675           2339.25   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.625            4.000                 696   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664340                               7.4675           1140.56   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 655   Express No Doc                          Purchase                     Investor                   Condominium
      1103664341                               7.0325           1377.48   Yes              3YP                             43.87   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         4.000                   6.000                   2.000                     6.000            14.500            4.000                 743   Full                                    Purchase                     Investor                   Condominium
      1103664343                               7.7175           1390.68   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            15.375            4.000                 697   Express Verified Assets                 Purchase                     Investor                   PUD
      1103664348                               7.9175            634.78   No               NO                              47.56   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.500            0.000                 639   Stated                                  Purchase                     Owner Occupied             Condominium
      1103664349                                7.343            707.79   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.625            0.000                 643   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664352                               6.5925            2176.4   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 663   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664353                                6.968          1,623.58   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 650   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664356                                7.468          1,397.00   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.750            0.000                 588   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103664358                                6.968          1,064.84   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 608   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664359                               7.6075           1558.15   Yes              3YP                             48.30   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             9.000            0.000                 693   Full                                    Purchase                     Investor                   PUD
      1103664361                               7.8425            407.63   No               NO                              45.13   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.125            0.000                 775   Full                                    Purchase                     Investor                   2-FAMILY
      1103664362                               8.4675            529.92   No               NO                               0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.750            0.000                 681   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664364                                6.843          1,485.55   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 615   Express No Doc                          Rate/Term Refinance          Owner Occupied             PUD
      1103664365                                7.843          1,828.13   No               NO                               0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.125            0.000                 619   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664367                               7.5925           1782.78   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 665   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664368                                6.968          1,228.17   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 605   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664371                                8.342            915.07   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.625            0.000                 619   Express No Doc                          Cash Out Refinance           Investor                   PUD
      1103664374                               7.9675            581.28   Yes              1YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.250            0.000                 747   Express Verified Assets                 Purchase                     Investor                   SFR
      1103664377                               8.0925           1054.94   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.375            0.000                 677   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103664378                                6.593          1,403.65   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 612   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664379                               7.5925            911.63   Yes              3YP                             43.62   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 628   Stated                                  Purchase                     Owner Occupied             Condominium
      1103664381                                7.343            997.65   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.625            0.000                 590   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             PUD
      1103664382                                8.592            954.77   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.875            0.000                 610   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103664384                                7.843          1,320.31   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.125            0.000                 616   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664386                               7.4075             492.1   Yes              3YP                             44.77   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.500            0.000                 727   Full                                    Purchase                     Investor                   SFR
      1103664389                               7.8125           1017.39   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.875            0.000                 750   Express Verified Assets                 Purchase                     Investor                   PUD
      1103664392                                6.968          2,220.48   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 605   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664393                                7.593            659.81   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 618   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664394                               6.5075           2868.87   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.750            0.000                 723   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664395                               7.2175           1041.83   Yes              1YP                             36.24   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 694   Full                                    Purchase                     Investor                   PUD
      1103664397                               8.0925           1494.68   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.375            0.000                 706   Express Verified Assets                 Purchase                     Investor                   SFR
      1103664398                               6.9675            2650.8   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 602   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664399                               7.7175            623.88   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.000            0.000                 670   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103664400                               7.6575            645.09   Yes              3YP                             47.44   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.750            0.000                 714   Full                                    Purchase                     Investor                   SFR
      1103664402                               7.4075            653.58   Yes              1YP                             48.21   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.500            0.000                 783   Full                                    Purchase                     Investor                   SFR
      1103664591                               7.2175            1677.5   Yes              3YP                             43.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20111201                        20120101         56         2.500                   3.000                   1.000                     6.000            13.625            2.500                 633   Stated                                  Purchase                     Owner Occupied             Condominium
      1103665109                               6.5925           3406.67   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.500                   5.000                   1.000                     5.000            12.000            4.500                 689   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665110                               6.8425           3192.58   No               NO                              43.22   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            12.250            4.750                 657   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      1103665111                               7.0925           2824.83   Yes              3YP                             44.20   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.750                   5.000                   2.000                     5.000            12.500            4.750                 623   Stated                                  Purchase                     Owner Occupied             SFR
      1103665112                               7.0925              2175   Yes              3YP                             42.63   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         5.000                   5.000                   1.000                     5.000            12.500            5.000                 626   Stated                                  Purchase                     Owner Occupied             SFR
      1103665113                               7.0925              3750   No               NO                              42.30   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            12.500            5.000                 682   Stated                                  Purchase                     Owner Occupied             SFR
      1103665114                                6.468          1,305.65   Yes              3YP                             28.78   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            11.875            4.625                 670   Stated                                  Cash Out Refinance           Investor                   SFR
      1103665115                               6.7175           1705.25   No               NO                              47.92   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.250                   5.000                   1.000                     5.000            12.125            4.875                 663   Full                                    Purchase                     Owner Occupied             SFR
      1103665116                               7.0925               860   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.625                   5.000                   1.000                     5.000            12.500            4.875                 719   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665117                                6.468          2,612.50   No               NO                              44.90   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            11.875            4.375                 664   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665118                                6.968          1,647.08   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            12.375            4.725                 633   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103665120                               6.7425           1780.44   Yes              3YP                             43.60   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.250                   6.000                   2.000                     6.000            13.150            4.900                 731   Stated                                  Purchase                     Investor                   SFR
      1103665122                                6.593          7,758.33   No               NO                              43.80   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            12.000            4.500                 665   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665123                               6.5925           3454.25   Yes              3YP                             47.70   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.000            4.470                 663   Stated                                  Purchase                     Owner Occupied             SFR
      1103665125                               5.9675           2486.25   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            11.375            4.725                 712   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665126                               6.9675           2974.58   Yes              3YP                             44.74   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.250                   5.000                   1.000                     5.000            12.375            5.000                 681   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665127                               6.7175           2867.35   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         2.500                   5.000                   1.000                     5.000            12.125            4.875                 641   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665128                                7.343          5,444.73   No               NO                              44.70   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         2.250                   5.000                   1.000                     5.000            12.750            5.000                 659   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665129                                6.343          3,825.00   Yes              3YP                             39.24   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            11.750            4.250                 680   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103665130                               6.5925           3432.96   No               NO                              43.90   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            12.000            4.500                 678   Stated                                  Purchase                     Owner Occupied             SFR
      1103665131                                6.468          1,283.33   No               NO                              44.03   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            11.875            4.375                 628   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103665133                               6.4675           1759.77   Yes              3YP                             41.22   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120101                        20120201         57         2.500                   5.000                   1.000                     5.000            11.875            4.375                 672   Stated                                  Purchase                     Owner Occupied             SFR
      1103665134                               7.8425            1226.5   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         3.375                   5.000                   1.000                     5.000            13.250            4.875                 715   Express Verified Assets                 Purchase                     Investor                   SFR
      1103665135                               6.0925           1279.06   Yes              1YP                             41.19   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120101                        20120201         57         2.500                   5.000                   1.000                     5.000            11.500            4.000                 649   Stated                                  Purchase                     Owner Occupied             SFR
      1103665136                               6.4675            1146.1   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20111201                        20120101         56         2.500                   5.000                   1.000                     5.000            11.875            4.375                 700   Express No Doc                          Purchase                     Owner Occupied             SFR
      1103665137                               7.4675           1019.45   No               NO                              41.17   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.875                   5.000                   1.000                     5.000            12.875            5.000                 666   Stated                                  Purchase                     Owner Occupied             Condominium
      1103665140                               6.5925           3159.78   No               NO                              39.32   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.500                   5.000                   1.000                     5.000            12.000            4.500                 746   Stated                                  Purchase                     Second Home                SFR
      1103665141                                6.843          1,364.35   Yes              1YP                             40.78   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.250            4.750                 664   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665142                                6.968          2,873.21   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120101                        20120201         57         2.500                   5.000                   1.000                     5.000            12.375            4.725                 676   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103665143                                6.718          5,818.75   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.125            4.625                 708   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103665144                               6.7175           2303.75   No               NO                              44.84   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.125            4.625                 740   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      1103665145                               7.0925              1825   Yes              3YP                             36.25   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.625                   5.000                   1.000                     5.000            12.500            4.875                 721   Stated                                  Purchase                     Owner Occupied             Condominium
      1103665147                               6.5925           2671.85   Yes              3YP                             41.20   7/6 LIBOR                                        LIBOR                          6                6                             20140101                        20140201         81         2.500                   5.000                   1.000                     5.000            12.000            4.500                 702   Stated                                  Purchase                     Owner Occupied             SFR
      1103665148                               6.5925           2543.33   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.000            4.500                 756   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665149                               7.0925              3125   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         2.625                   5.000                   1.000                     5.000            12.500            4.875                 656   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665150                               7.7175              2880   Yes              3YP                              0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.000            0.000                 625   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665151                                7.593          2,231.25   No               NO                               0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 687   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103665152                               7.5925           1968.75   No               NO                               0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 622   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665153                               7.5925           2736.56   Yes              3YP                             43.20   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 646   Stated                                  Purchase                     Owner Occupied             SFR
      1103665154                               8.0925           2361.75   No               NO                               0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.375            0.000                 620   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103665156                               8.4675           2216.48   No               NO                               0.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.750            0.000                 733   Express Verified Assets                 Purchase                     Investor                   SFR
      1103665157                                6.093          2,826.13   No               NO                              41.24   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 721   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665158                               7.9675            1281.5   Yes              3YP                             40.76   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.250            0.000                 711   Stated                                  Purchase                     Investor                   SFR
      1103665159                               7.0925           1514.33   Yes              3YP                             29.00   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 734   Stated                                  Purchase                     Second Home                SFR
      1103665160                               7.3425            686.25   No               NO                              37.60   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.625            0.000                 690   Stated                                  Purchase                     Owner Occupied             SFR
      1103665161                               8.3425           1075.25   No               NO                              32.90   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.625            0.000                 679   Stated                                  Purchase                     Investor                   SFR
      1103665162                               7.4675           2893.33   Yes              3YP                             35.50   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.750            0.000                 711   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503153673                              11.0675           1317.27   No               NO                              49.99   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.600            0.000                 684   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503164097                                8.292          2,417.16   Yes              3YP                             48.21   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090701                        20090801         27         5.550                   3.000                   1.000                     6.000            14.700            8.700                 598   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503180761                              12.3425            997.76   Yes              2YP                             46.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 634   Stated                                  Purchase                     Owner Occupied             SFR
      2503184571                              11.2175            595.55   Yes              2YP                             53.27   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 635   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503185841                              12.2075            499.52   Yes              3YP                             41.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.740            0.000                 635   Stated                                  Purchase                     Owner Occupied             SFR
      2503188998                              11.9675            672.37   Yes              2YP                             47.44   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 653   Stated                                  Purchase                     Owner Occupied             SFR
      2503189258                               11.363            497.51   Yes              2YP                             36.40   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.895            0.000                 752   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503189762                               12.168            281.53   Yes              3YP                             33.16   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.700            0.000                 624   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503190770                              11.7575            367.85   No               NO                              34.67   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.290            0.000                 706   Stated                                  Purchase                     Investor                   SFR
      2503191818                               12.158            300.33   Yes              3YP                             37.88   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.690            0.000                 696   Stated                                  Cash Out Refinance           Investor                   SFR
      2503191847                              11.2175            689.43   Yes              1YP                             48.33   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 686   Stated                                  Purchase                     Owner Occupied             Condominium
      2503193131                              10.2075            496.68   Yes              3YP                             33.27   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.740            0.000                 706   Stated                                  Purchase                     Owner Occupied             Condominium
      2503194961                               11.593          1,360.10   Yes              3YP                             25.16   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.125            0.000                 689   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      2503195310                              10.3575            903.43   Yes              3YP                             43.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.890            0.000                 684   Stated                                  Purchase                     Owner Occupied             Condominium
      2503195664                              11.4675            779.15   No               NO                              28.93   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 693   Stated                                  Purchase                     Owner Occupied             Condominium
      2503195675                              12.7175            270.19   Yes              2YP                             42.26   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.250            0.000                 648   Full                                    Purchase                     Investor                   SFR
      2503195750                                6.593          2,800.00   Yes              3YP                             29.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         3.000                   3.000                   1.000                     6.000            13.000            3.000                 661   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503195826                              11.8575           1720.44   No               NO                              49.08   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.390            0.000                 741   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      2503196100                               10.918            813.84   Yes              3YP                             42.60   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.450            0.000                 692   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503196609                              12.0675            217.69   No               NO                              49.94   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.600            0.000                 686   Stated                                  Purchase                     Investor                   4-FAMILY
      2503196781                              11.3875            511.23   No               NO                              45.09   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.920            0.000                 697   Stated                                  Purchase                     Investor                   2-FAMILY
      2503197046                              11.4025             268.7   No               NO                              41.36   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.935            0.000                 691   Stated                                  Purchase                     Investor                   Condominium
      2503197386                              13.4175            500.41   No               NO                              46.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.950            0.000                 692   Stated                                  Purchase                     Investor                   Condominium
      2503197397                              11.4425            360.37   No               NO                              37.10   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.975            0.000                 684   Stated                                  Purchase                     Owner Occupied             Condominium
      2503198076                              13.3675            560.23   No               NO                              40.19   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.900            0.000                 647   Stated                                  Purchase                     Second Home                HI-RISE
      2503198220                               8.5825           1125.46   Yes              2YP                             44.64   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         6.550                   3.000                   1.000                     6.000            14.990            8.990                 649   Stated                                  Purchase                     Owner Occupied             SFR
      2503198749                              12.7075             373.5   No               NO                              42.59   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.240            0.000                 689   Stated                                  Purchase                     Investor                   2-FAMILY
      2503198867                              12.0575               803   No               NO                              37.94   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.590            0.000                 668   Stated                                  Purchase                     Owner Occupied             Townhouse
      2503199274                                5.468            940.00   Yes              3YP                             41.11   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 701   Stated                                  Rate/Term Refinance          Investor                   PUD
      2503199481                               13.868          1,627.21   No               NO                              47.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.400            0.000                 642   Stated                                  Cash Out Refinance           Investor                   SFR
      2503199678                               11.983            641.05   Yes              1YP                             39.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.515            0.000                 684   Stated                                  Cash Out Refinance           Investor                   SFR
      2503199806                              12.7175            440.74   Yes              1YP                             48.96   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.250            0.000                 682   Stated                                  Purchase                     Investor                   Condominium
      2503200154                              13.0675            278.65   No               NO                              48.19   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.600            0.000                 670   Stated                                  Purchase                     Investor                   SFR
      2503200183                              12.7675            482.95   No               NO                              47.41   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.300            0.000                 665   Stated                                  Purchase                     Investor                   SFR
      2503200602                              12.4575            400.71   Yes              2YP                             50.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 655   Stated                                  Purchase                     Second Home                Condominium
      2503200917                              12.1675            314.01   Yes              3YP                             49.92   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.700            0.000                 650   Stated                                  Purchase                     Owner Occupied             SFR
      2503200927                               14.368            288.98   Yes              2YP                             46.89   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.900            0.000                 641   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503200932                              12.2425            366.87   No               NO                              41.76   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.775            0.000                 720   Stated                                  Purchase                     Investor                   Condominium
      2503201011                              12.2425            448.52   No               NO                              45.48   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.775            0.000                 724   Stated                                  Purchase                     Investor                   Condominium
      2503201271                              12.2975            1621.9   No               NO                              44.24   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.830            0.000                 643   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      2503201291                              11.3175            874.69   No               NO                              41.88   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.850            0.000                 693   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503201423                               12.468            420.36   No               NO                              37.54   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.000            0.000                 653   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503201732                              11.6075            394.97   No               NO                              36.61   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.140            0.000                 673   Stated                                  Purchase                     Owner Occupied             SFR
      2503201750                               11.768            465.40   Yes              2YP                             47.55   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.300            0.000                 695   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      2503201982                              12.3425            868.38   No               NO                              38.64   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 702   Stated                                  Purchase                     Investor                   4-FAMILY
      2503202208                              13.2175            964.13   No               NO                              49.98   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.750            0.000                 674   Stated                                  Purchase                     Investor                   Condominium
      2503202420                              12.7075            393.75   No               NO                              44.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.240            0.000                 691   Stated                                  Purchase                     Investor                   2-FAMILY
      2503202514                               10.343            326.25   No               NO                              31.04   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.875            0.000                 669   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503202548                              11.4575            781.16   Yes              2YP                             45.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 620   Full                                    Purchase                     Owner Occupied             SFR
      2503202609                               12.218            415.66   No               NO                              37.98   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.750            0.000                 684   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503202645                               11.838            509.03   No               NO                              39.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.370            0.000                 653   Stated                                  Cash Out Refinance           Second Home                D-PUDS
      2503202757                               8.5775           3387.15   Yes              2YP                             42.41   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            17.125           11.125                 607   Stated                                  Purchase                     Owner Occupied             PUD
      2503203013                              12.1575            529.65   Yes              3YP                             41.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.690            0.000                 658   Full                                    Purchase                     Owner Occupied             Condominium
      2503203247                              11.3675            558.95   Yes              3YP                             40.48   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.900            0.000                 676   Stated                                  Purchase                     Investor                   SFR
      2503203341                              12.5175            997.43   No               NO                              47.54   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.050            0.000                 693   Stated                                  Purchase                     Investor                   SFR
      2503203461                              11.8575            583.89   No               NO                              35.69   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.390            0.000                 716   Stated                                  Purchase                     Investor                   Condominium
      2503203466                              10.4575            475.59   No               NO                              50.45   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.990            0.000                 702   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503203513                              11.3925            606.03   No               NO                              30.96   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.925            0.000                 712   Stated                                  Purchase                     Investor                   SFR
      2503203514                               11.888          1,244.62   Yes              1YP                             31.11   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.420            0.000                 704   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503203529                              13.7175             384.3   No               NO                              29.37   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.250            0.000                 674   Stated                                  Purchase                     Investor                   2-FAMILY
      2503203574                               11.618            538.29   Yes              3YP                             34.81   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.150            0.000                 693   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      2503203584                              12.2575            420.67   Yes              3YP                             42.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.790            0.000                 667   Stated                                  Purchase                     Investor                   PUD
      2503203710                               12.468            414.82   Yes              2YP                             52.96   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.000            0.000                 675   Stated                                  Cash Out Refinance           Investor                   SFR
      2503203782                              11.9675             544.3   Yes              2YP                             42.64   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 625   Full                                    Purchase                     Owner Occupied             Condominium
      2503203852                               11.158            316.52   No               NO                              40.87   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.690            0.000                 724   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      2503203861                              11.2675            500.04   No               NO                              34.98   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.800            0.000                 713   Stated                                  Purchase                     Investor                   SFR
      2503203896                               11.268            375.41   Yes              3YP                             30.28   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.800            0.000                 622   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503203994                              11.6675            305.38   No               NO                              38.87   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.200            0.000                 668   Stated                                  Purchase                     Investor                   2-FAMILY
      2503204068                              12.5175             637.2   No               NO                              42.47   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.050            0.000                 669   Stated                                  Purchase                     Investor                   D-PUDS
      2503204087                              12.6075           1281.93   No               NO                              21.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.140            0.000                 734   Stated                                  Purchase                     Investor                   2-FAMILY
      2503204151                              11.9825           1044.92   No               NO                              37.42   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.515            0.000                 734   Stated                                  Purchase                     Investor                   2-FAMILY
      2503204218                              11.4675            324.01   No               NO                              32.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 710   Stated                                  Purchase                     Investor                   SFR
      2503204310                               11.983            797.04   Yes              1YP                             47.75   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.515            0.000                 646   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503204389                              11.3675            458.85   No               NO                              30.92   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.900            0.000                 703   Stated                                  Purchase                     Investor                   D-PUDS
      2503204520                               12.458          1,193.85   Yes              1YP                             43.43   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 682   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503204614                              10.9675           2401.46   No               NO                              46.72   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.500            0.000                 725   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503204710                              12.3675            744.71   No               NO                              32.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.900            0.000                 697   Stated                                  Purchase                     Investor                   2-FAMILY
      2503204754                               12.518            263.65   Yes              3YP                             30.41   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.050            0.000                 664   Full                                    Cash Out Refinance           Investor                   SFR
      2503204783                               11.328            603.08   No               NO                              39.80   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.860            0.000                 631   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503204824                              12.3575            370.97   No               NO                              35.69   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.890            0.000                 697   Stated                                  Purchase                     Investor                   Condominium
      2503204848                               7.3425           1343.27   Yes              3YP                             49.99   3/6 LIBOR                                        LIBOR                          6                6                             20100301                        20100401         35         5.650                   3.000                   1.000                     6.000            13.750            7.750                 637   Full                                    Purchase                     Owner Occupied             SFR
      2503204851                              11.9075            664.13   Yes              3YP                             49.99   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.440            0.000                 637   Full                                    Purchase                     Owner Occupied             SFR
      2503204853                               11.093            379.94   Yes              2YP                             32.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.625            0.000                 656   Stated                                  Cash Out Refinance           Second Home                SFR
      2503204863                               12.243            345.10   No               NO                              31.71   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.775            0.000                 670   Stated                                  Cash Out Refinance           Investor                   SFR
      2503204878                              13.1375            477.43   Yes              1YP                             47.69   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.670            0.000                 672   Stated                                  Purchase                     Investor                   2-FAMILY
      2503204980                              11.7575            591.18   No               NO                              41.92   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.290            0.000                 685   Stated                                  Purchase                     Investor                   SFR
      2503205026                               11.458            925.06   Yes              2YP                             39.34   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 729   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503205029                              10.8675             663.3   No               NO                              39.06   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.400            0.000                 649   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503205117                               13.843            801.65   No               NO                              36.69   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.375            0.000                 652   Stated                                  Cash Out Refinance           Investor                   PUD
      2503205315                              11.6175            586.66   No               NO                              40.81   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.150            0.000                 720   Stated                                  Purchase                     Investor                   Condominium
      2503205391                               11.366            385.85   No               NO                              36.46   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.898            0.000                 666   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503205411                              11.4575            706.13   No               NO                              33.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 711   Stated                                  Purchase                     Investor                   D-PUDS
      2503205470                              11.9675           1280.71   No               NO                              49.98   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 646   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503205693                               11.668            803.91   No               NO                              41.03   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.200            0.000                 668   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503205877                              13.0275            793.59   No               NO                              39.78   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.560            0.000                 685   Stated                                  Purchase                     Investor                   D-PUDS
      2503205980                               12.738            279.02   No               NO                              36.50   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.270            0.000                 666   Stated                                  Cash Out Refinance           Investor                   SFR
      2503206098                                7.293          1,604.17   Yes              3YP                             36.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120201                        20120301         58         5.550                   3.000                   1.000                     6.000            13.700            7.700                 644   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503206108                              11.4675            800.26   No               NO                              46.75   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.000            0.000                 674   Stated                                  Purchase                     Owner Occupied             Condominium
      2503206109                              10.3575            649.01   No               NO                              37.35   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.890            0.000                 793   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503206237                               7.9625           2885.89   Yes              3YP                             42.53   3/6 LIBOR                                        LIBOR                          6                6                             20100301                        20100401         35         5.550                   3.000                   1.000                     6.000            16.250           10.250                 625   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503206315                              12.2365            500.56   Yes              1YP                             32.28   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.769            0.000                 693   Stated                                  Purchase                     Investor                   Condominium
      2503206352                               12.058          1,208.53   No               NO                              41.85   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.590            0.000                 641   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503206378                               13.683            248.80   Yes              1YP                             43.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.215            0.000                 656   Stated                                  Cash Out Refinance           Investor                   PUD
      2503206545                               12.068            470.32   Yes              3YP                             44.86   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.600            0.000                 662   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503206612                              12.2075            705.84   No               NO                              44.69   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.740            0.000                 655   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503206661                              14.0175            506.77   No               NO                              44.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.550            0.000                 652   Stated                                  Purchase                     Investor                   SFR
      2503206665                                6.218            883.63   Yes              3YP                             45.16   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         6.550                   3.000                   1.000                     6.000            12.625            6.550                 612   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503206762                               10.308            490.81   Yes              2YP                             37.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.840            0.000                 657   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503206786                               10.368            914.54   No               NO                              46.34   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.900            0.000                 704   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503206794                               11.618            689.12   No               NO                              29.20   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.150            0.000                 702   Stated                                  Cash Out Refinance           Investor                   SFR
      2503206867                               12.658          1,051.00   No               NO                              41.95   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.190            0.000                 642   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503206879                              11.7175            335.33   No               NO                              47.84   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.250            0.000                 674   Stated                                  Purchase                     Investor                   SFR
      2503206902                              11.8575           1111.67   No               NO                              39.65   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.390            0.000                 704   Stated                                  Purchase                     Investor                   3-FAMILY
      2503206915                              12.7575            474.03   No               NO                              35.43   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.290            0.000                 671   Stated                                  Purchase                     Investor                   PUD
      2503206917                               6.7025            3436.5   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.110            3.000                 695   Express No Doc                          Purchase                     Owner Occupied             D-PUDS
      2503207027                               6.5825           1620.04   Yes              2YP                             43.50   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         6.650                   3.000                   1.000                     6.000            12.990            6.990                 621   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503207030                              11.0745            811.25   Yes              2YP                             46.46   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.607            0.000                 621   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503207055                               12.568            300.79   No               NO                              43.66   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.100            0.000                 658   Stated                                  Cash Out Refinance           Investor                   Townhouse
      2503207166                              11.6675            563.78   Yes              3YP                             41.28   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.200            0.000                 695   Stated                                  Purchase                     Investor                   SFR
      2503207362                              11.9575           1234.45   No               NO                              41.64   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.490            0.000                 690   Stated                                  Purchase                     Investor                   PUD
      2503207365                               12.608          1,843.30   No               NO                              31.45   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.140            0.000                 693   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503207441                               6.5325           2128.92   Yes              2YP                             49.37   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            12.940            6.940                 634   Full                                    Purchase                     Owner Occupied             SFR
      2503207460                              12.0775           1237.17   Yes              2YP                             47.53   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.610            0.000                 634   Full                                    Purchase                     Owner Occupied             SFR
      2503207462                               11.318            854.35   Yes              2YP                             43.27   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.850            0.000                 669   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503207487                              12.2075            389.28   No               NO                              43.04   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.740            0.000                 698   Stated                                  Purchase                     Investor                   Condominium
      2503207506                               11.958            391.93   No               NO                              28.08   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.490            0.000                 690   Stated                                  Cash Out Refinance           Investor                   SFR
      2503207511                                6.893          4,085.20   Yes              3YP                             49.30   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100301                        20100401         35         6.550                   3.000                   1.000                     6.000            13.300            7.300                 608   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503207516                              13.2575            518.71   No               NO                              47.12   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.790            0.000                 657   Stated                                  Purchase                     Investor                   SFR
      2503207647                                5.843          2,125.00   Yes              3YP                             44.62   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            12.250            3.500                 750   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503207654                              12.3075           1326.12   No               NO                              36.09   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.840            0.000                 663   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503207802                                6.778          1,893.86   Yes              2YP                             30.53   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            14.895            8.895                 604   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503207864                               11.593            926.63   No               NO                              46.79   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.125            0.000                 651   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503207978                                6.483          1,653.60   Yes              3YP                             41.95   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140501                        20140601         85         2.250                   3.000                   1.000                     5.000            11.890            2.250                 694   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      2503208019                              11.4575            470.75   Yes              3YP                             50.83   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 621   Full                                    Purchase                     Owner Occupied             SFR
      2503208053                               10.118          1,145.89   Yes              3YP                             48.38   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.650            0.000                 645   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503208074                              10.9575            781.73   No               NO                              41.51   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.490            0.000                 693   Stated                                  Purchase                     Owner Occupied             Condominium
      2503208084                                6.593          1,009.17   Yes              3YP                             38.76   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 623   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503208171                              10.5865            321.08   Yes              1YP                             32.02   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.119            0.000                 719   Stated                                  Purchase                     Owner Occupied             Condominium
      2503208184                               8.8125            594.82   Yes              3YP                             31.34   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            15.840            3.625                 756   SISA                                    Purchase                     Investor                   SFR
      2503208285                              10.8575            488.01   No               NO                              33.50   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.390            0.000                 725   Full                                    Purchase                     Investor                   2-FAMILY
      2503208298                              11.9675           1342.61   Yes              2YP                             37.73   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 656   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503208308                              11.9175            465.23   Yes              2YP                             45.40   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.450            0.000                 665   Full                                    Purchase                     Owner Occupied             Condominium
      2503208320                              11.9575           1237.12   No               NO                              42.97   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.490            0.000                 715   Stated                                  Purchase                     Investor                   HI-RISE
      2503208334                              11.3575           1684.42   No               NO                              47.61   30/15 FIXED BAL IO                         60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.890            0.000                 705   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      2503208342                                6.333          3,485.43   Yes              2YP                             47.07   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         6.550                   3.000                   1.000                     6.000            15.120            9.120                 623   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503208379                              11.7075            712.04   No               NO                              36.61   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.240            0.000                 726   Stated                                  Purchase                     Investor                   2-FAMILY
      2503208442                                5.593          3,360.00   Yes              2YP                             44.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 739   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503208484                               7.5825           1138.09   Yes              2YP                             47.82   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         6.550                   3.000                   1.000                     4.000            11.990            7.990                 658   Stated                                  Purchase                     Owner Occupied             SFR
      2503208485                              12.4575            572.05   No               NO                              47.82   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.990            0.000                 658   Stated                                  Purchase                     Owner Occupied             SFR
      2503208492                              12.6075            382.07   No               NO                              44.49   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.140            0.000                 660   Stated                                  Purchase                     Investor                   SFR
      2503208510                              11.7575            677.89   No               NO                              44.52   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.290            0.000                 692   Stated                                  Purchase                     Investor                   D-PUDS
      2503208530                              11.9675            746.87   No               NO                              30.44   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 674   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503208539                               10.458            392.52   Yes              2YP                             44.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.990            0.000                 705   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503208594                              11.8675            508.56   No               NO                              39.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.400            0.000                 697   Stated                                  Purchase                     Investor                   SFR
      2503208634                              11.8075            485.23   No               NO                              45.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.340            0.000                 660   Full                                    Purchase                     Owner Occupied             2-FAMILY
      2503208683                              12.0075            789.93   Yes              2YP                             42.39   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.540            0.000                 646   Stated                                  Purchase                     Owner Occupied             SFR
      2503208720                              13.0175            489.62   No               NO                              44.83   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.550            0.000                 645   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503208743                              11.8175           1140.08   Yes              2YP                             46.70   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.350            0.000                 621   Full                                    Purchase                     Owner Occupied             SFR
      2503208777                               11.458            317.60   No               NO                              29.65   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 724   Stated                                  Cash Out Refinance           Investor                   SFR
      2503208833                              10.3075            629.97   No               NO                              39.44   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.840            0.000                 681   Full                                    Purchase                     Owner Occupied             3-FAMILY
      2503208891                               11.808          1,191.99   Yes              2YP                             48.68   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.340            0.000                 662   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503208925                              13.5675            489.04   No               NO                              45.97   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.100            0.000                 648   Stated                                  Purchase                     Investor                   Condominium
      2503208958                               9.7075           1488.53   Yes              2YP                             39.40   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.240            0.000                 703   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503208999                               10.593          1,423.44   No               NO                              35.36   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.125            0.000                 660   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503209019                              12.7375            700.64   No               NO                              48.06   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.270            0.000                 637   Full                                    Purchase                     Owner Occupied             Condominium
      2503209022                               4.9675           2253.12   No               NO                              25.85   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.250            0.000                 778   Full                                    Purchase                     Owner Occupied             Condominium
      2503209047                               12.168            487.26   No               NO                              34.32   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.700            0.000                 652   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      2503209086                              11.8675             295.6   No               NO                              27.97   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.400            0.000                 699   Stated                                  Purchase                     Investor                   SFR
      2503209106                                5.583          1,098.17   Yes              3YP                             40.19   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.990            3.000                 759   Stated                                  Rate/Term Refinance          Investor                   PUD
      2503209123                              11.2675           1367.88   Yes              2YP                             40.54   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.800            0.000                 648   Full                                    Purchase                     Owner Occupied             SFR
      2503209130                                6.583          1,314.12   Yes              2YP                             41.17   2/6 LIBOR IO                               60    LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            12.990            6.990                 621   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503209131                               12.358            464.29   No               NO                              42.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.890            0.000                 621   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503209143                               10.568            662.32   Yes              2YP                             45.27   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.100            0.000                 668   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503209149                              10.8425            460.96   Yes              2YP                             33.12   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.375            0.000                 735   Stated                                  Purchase                     Investor                   2-FAMILY
      2503209170                                5.843          2,934.50   No               NO                              50.37   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 748   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503209189                              11.9175           1063.38   Yes              2YP                             37.72   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.450            0.000                 643   Stated                                  Purchase                     Owner Occupied             SFR
      2503209245                              11.6075            623.64   No               NO                              47.89   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.140            0.000                 703   Stated                                  Purchase                     Investor                   SFR
      2503209267                              10.7075           1261.65   Yes              3YP                             50.09   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.240            0.000                 691   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503209268                                7.063          4,284.64   Yes              3YP                             23.78   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         6.550                   3.000                   1.000                     6.000            13.990            7.990                 809   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503209281                              11.9675           1622.23   Yes              1YP                             47.59   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 666   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503209322                               9.3125              3078   No               NO                              48.84   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            15.720            3.000                 742   Stated                                  Purchase                     Investor                   3-FAMILY
      2503209337                                5.593          1,855.00   Yes              3YP                             40.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 676   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503209367                               11.508            301.25   No               NO                              32.73   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.040            0.000                 712   Stated                                  Cash Out Refinance           Investor                   SFR
      2503209386                               12.668            538.49   No               NO                              30.19   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.200            0.000                 649   Stated                                  Cash Out Refinance           Investor                   SFR
      2503209499                              12.5575           1502.87   No               NO                              45.94   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.090            0.000                 675   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503209519                              12.0575             467.3   No               NO                              38.30   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.590            0.000                 650   Stated                                  Purchase                     Investor                   SFR
      2503209590                              11.3175            925.54   Yes              3YP                             44.85   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.850            0.000                 667   Stated                                  Purchase                     Owner Occupied             SFR
      2503209606                                6.173          1,985.13   No               NO                              32.55   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            13.250            3.750                 764   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503209608                              11.3075            884.19   No               NO                              48.24   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.840            0.000                 686   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503209620                              11.9675            213.45   No               NO                              18.97   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 721   Stated                                  Purchase                     Investor                   Townhouse
      2503209644                               9.8575             959.1   Yes              2YP                             49.16   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.390            0.000                 705   Stated                                  Purchase                     Owner Occupied             Condominium
      2503209651                               12.962            266.20   No               NO                              42.95   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.494            0.000                 643   Stated                                  Cash Out Refinance           Investor                   PUD
      2503209721                              12.3115           1229.13   No               NO                              43.22   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.844            0.000                 661   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503209743                              12.0075            933.89   Yes              2YP                             45.25   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.540            0.000                 645   Stated                                  Purchase                     Owner Occupied             SFR
      2503209745                              11.9575           1098.48   No               NO                              32.58   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.490            0.000                 726   Stated                                  Purchase                     Investor                   2-FAMILY
      2503209746                              11.6075            1223.9   No               NO                              37.57   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.140            0.000                 653   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503209762                               10.608            464.13   No               NO                              42.66   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.140            0.000                 670   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503209785                                7.583          3,401.43   Yes              3YP                             40.16   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         6.550                   3.000                   1.000                     6.000            13.990            7.990                 603   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503209788                              11.8425           4088.03   No               NO                              41.17   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 672   Stated                                  Purchase                     Owner Occupied             SFR
      2503209794                               12.208            760.14   Yes              3YP                             41.59   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.740            0.000                 669   Stated                                  Cash Out Refinance           Owner Occupied             HI-RISE
      2503209837                                7.843          2,051.01   Yes              2YP                             47.65   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            14.250            8.250                 630   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503209838                              11.2675            243.94   No               NO                              36.22   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.800            0.000                 700   Full                                    Purchase                     Investor                   D-PUDS
      2503209974                              11.9825            574.28   Yes              1YP                             47.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.515            0.000                 691   Stated                                  Purchase                     Investor                   PUD
      2503210023                               11.018          1,088.55   Yes              3YP                             45.18   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.550            0.000                 670   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503210036                              11.0575            396.37   No               NO                              43.60   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.590            0.000                 687   Stated                                  Purchase                     Owner Occupied             Condominium
      2503210037                                5.468          1,336.56   No               NO                              30.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 689   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503210129                              11.9075            340.03   Yes              3YP                             47.12   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.440            0.000                 646   Full                                    Purchase                     Owner Occupied             4-FAMILY
      2503210258                               6.4675            829.69   Yes              3YP                             42.94   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 753   Stated                                  Purchase                     Investor                   SFR
      2503210263                                5.343            852.92   Yes              3YP                             39.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 766   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503210265                                7.643          2,071.68   Yes              2YP                              0.00   2/6 LIBOR                                        LIBOR                          6                6                             20090401                        20090501         24         6.550                   3.000                   1.000                     6.000            14.050            8.050                 608   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503210353                               13.358            512.81   No               NO                              39.01   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.890            0.000                 641   Stated                                  Cash Out Refinance           Investor                   SFR
      2503210363                                5.093          2,603.33   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.500            3.000                 767   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503210442                              11.8425           1512.32   Yes              1YP                             43.04   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.375            0.000                 646   Stated                                  Purchase                     Owner Occupied             SFR
      2503210459                              10.7115            524.24   No               NO                              48.08   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.244            0.000                 714   Stated                                  Purchase                     Owner Occupied             Condominium
      2503210478                              12.1575           1348.98   Yes              3YP                             49.83   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.690            0.000                 647   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503210569                                9.432          1,110.59   Yes              2YP                             42.91   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         6.650                   3.000                   1.000                     6.000            15.840            9.840                 646   Full                                    Cash Out Refinance           Investor                   Townhouse
      2503210596                               11.808            742.09   Yes              3YP                             49.48   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.340            0.000                 726   Stated                                  Cash Out Refinance           Investor                   SFR
      2503210649                              11.4575           1850.12   Yes              3YP                             48.07   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 671   Stated                                  Purchase                     Owner Occupied             SFR
      2503210809                               6.4675            795.78   Yes              3YP                             36.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.875            3.000                 794   Stated                                  Purchase                     Investor                   Condominium
      2503210868                              11.4575           1027.84   Yes              2YP                             34.35   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.990            0.000                 669   Stated                                  Purchase                     Owner Occupied             SFR
      2503210870                              11.6175           4160.69   Yes              2YP                             42.00   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.150            0.000                 672   Stated                                  Purchase                     Owner Occupied             SFR
      2503210917                                5.468          3,521.88   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.750            0.000                 777   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503210966                               9.4925           1022.49   No               NO                              37.33   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            16.720            3.750                 692   Stated                                  Purchase                     Investor                   SFR
      2503211005                                7.043          2,080.60   Yes              3YP                             40.89   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         6.550                   3.000                   1.000                     6.000            14.990            8.990                 628   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503211020                              12.8825            587.01   Yes              1YP                             26.91   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.415            0.000                 648   Stated                                  Purchase                     Owner Occupied             Condominium
      2503211108                               5.5925              2380   Yes              3YP                             42.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.000            3.000                 701   Stated                                  Purchase                     Owner Occupied             SFR
      2503211326                                5.093          1,980.00   Yes              3YP                             32.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 711   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503211373                               11.958          1,839.68   Yes              2YP                             48.12   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.490            0.000                 664   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503211427                               11.898            238.91   Yes              3YP                             39.76   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.430            0.000                 659   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      2503211458                              12.3425           2055.82   No               NO                              43.36   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.875            0.000                 676   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503211465                               6.1675           2739.58   Yes              3YP                             42.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.575            3.000                 774   Stated                                  Purchase                     Owner Occupied             SFR
      2503211498                                6.410          1,280.46   Yes              3YP                             38.52   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.817            2.750                 666   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503211501                              12.3075            375.69   No               NO                              37.03   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.840            0.000                 671   Stated                                  Purchase                     Owner Occupied             Condominium
      2503211543                                5.843            866.67   Yes              3YP                             29.04   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.250            3.875                 668   SISA                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503211653                                6.043          1,522.20   Yes              3YP                             49.71   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.450            3.000                 641   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503211660                                6.218            840.67   Yes              1YP                             32.71   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 749   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503211681                                9.442          2,044.96   Yes              2YP                             37.30   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         7.650                   3.000                   1.000                     6.000            15.850            9.850                 613   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503211683                               11.908            587.09   Yes              1YP                             30.10   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.440            0.000                 679   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503211691                              11.2575            280.96   Yes              3YP                             44.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.790            0.000                 690   Stated                                  Purchase                     Investor                   SFR
      2503211805                                6.098          4,778.35   Yes              3YP                             49.84   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 685   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503211829                               11.862          1,361.92   No               NO                              42.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.394            0.000                 738   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      2503211853                               11.808          1,183.55   No               NO                              38.81   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.340            0.000                 659   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503211856                               6.5725           1918.76   Yes              3YP                             43.06   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            14.550            4.125                 683   Stated                                  Purchase                     Second Home                Condominium
      2503211885                              13.1075            887.08   No               NO                              44.22   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.640            0.000                 665   Stated                                  Purchase                     Investor                   2-FAMILY
      2503211888                                6.718          1,032.50   Yes              3YP                             42.98   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 694   Full                                    Cash Out Refinance           Investor                   SFR
      2503211908                                5.583          2,755.40   Yes              1YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 709   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503211940                              12.1575             216.4   No               NO                              40.23   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.690            0.000                 718   Stated                                  Purchase                     Investor                   D-PUDS
      2503212164                               7.1325           3753.69   Yes              1YP                             49.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.700            4.000                 691   Stated                                  Purchase                     Owner Occupied             SFR
      2503212207                                5.713          2,617.25   No               NO                              41.70   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.250            3.875                 715   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503212214                              13.1075            621.58   No               NO                              47.53   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.640            0.000                 678   Stated                                  Purchase                     Investor                   Condominium
      2503212258                                5.343          2,200.33   Yes              3YP                             38.63   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 749   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503212273                                9.393          1,939.64   Yes              3YP                             35.70   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         6.250                   3.000                   1.000                     6.000            15.800            9.800                 673   Stated                                  Cash Out Refinance           Investor                   SFR
      2503212278                              11.2175           1450.52   Yes              3YP                             38.84   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.750            0.000                 667   Stated                                  Purchase                     Owner Occupied             SFR
      2503212309                               5.3225            1050.5   Yes              1YP                             28.21   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.730            3.000                 711   Stated                                  Purchase                     Investor                   Condominium
      2503212329                               6.0825           3071.93   Yes              1YP                             42.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.490            3.000                 740   Stated                                  Purchase                     Owner Occupied             SFR
      2503212347                              12.0075            468.16   No               NO                              39.30   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.540            0.000                 718   Stated                                  Purchase                     Investor                   SFR
      2503212354                               11.608            883.49   No               NO                              17.39   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.140            0.000                 700   Stated                                  Cash Out Refinance           Investor                   SFR
      2503212425                                5.968          1,739.58   Yes              3YP                             26.36   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 683   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503212443                                6.081          2,595.20   Yes              1YP                             28.86   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.488            3.000                 689   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      2503212614                              13.9625           1371.06   No               NO                              41.15   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.495            0.000                 679   Stated                                  Purchase                     Investor                   2-FAMILY
      2503212622                                5.913          2,078.23   Yes              3YP                             44.28   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.195            0.000                 744   SISA                                    Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503212634                                5.968          1,009.78   Yes              3YP                             31.73   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 661   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503212649                                6.218          1,637.06   No               NO                              25.79   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 730   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503212656                                5.593          2,366.15   Yes              3YP                             43.65   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 719   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503212706                                5.968          1,450.31   Yes              2YP                             41.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 700   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503212742                              11.2075               817   No               NO                              32.88   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.740            0.000                 673   Stated                                  Purchase                     Owner Occupied             SFR
      2503212748                               12.133            604.84   Yes              3YP                             49.64   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.665            0.000                 665   Stated                                  Cash Out Refinance           Investor                   SFR
      2503212778                               7.9325            737.06   Yes              3YP                             32.20   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            15.210            3.750                 694   SISA                                    Purchase                     Investor                   SFR
      2503212948                               5.8425           1883.33   Yes              3YP                             42.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            12.250            3.000                 667   Stated                                  Purchase                     Owner Occupied             Condominium
      2503213006                              11.8075            395.57   No               NO                              30.57   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.340            0.000                 640   Stated                                  Purchase                     Owner Occupied             SFR
      2503213025                                5.968          5,481.44   Yes              3YP                             39.72   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 663   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503213030                                5.393          2,046.30   Yes              3YP                             35.04   3/6 LIBOR                                        LIBOR                          6                6                             20100301                        20100401         35         3.875                   3.000                   1.000                     6.000            11.800            3.875                 629   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503213035                               12.688            758.31   Yes              1YP                             41.94   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.220            0.000                 645   Stated                                  Cash Out Refinance           Investor                   SFR
      2503213040                                5.973          3,090.31   Yes              1YP                             40.82   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.380            3.000                 667   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503213054                               5.9675           1234.88   Yes              3YP                             42.64   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.375            3.875                 686   Stated                                  Purchase                     Owner Occupied             PUD
      2503213083                                6.402          2,493.80   No               NO                              45.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.809            3.000                 708   Stated                                  Cash Out Refinance           Investor                   SFR
      2503213124                               7.1325           1760.28   Yes              3YP                             41.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.540            3.000                 693   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503213151                                6.468          1,402.80   Yes              3YP                              1.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 669   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503213233                                6.168            704.13   Yes              3YP                             44.61   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.450            0.000                 641   Full                                    Rate/Term Refinance          Investor                   SFR
      2503213234                               5.7125           1832.18   Yes              2YP                             48.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.120            3.875                 695   Stated                                  Purchase                     Owner Occupied             SFR
      2503213241                                6.143          2,240.10   Yes              3YP                             46.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.550            3.875                 697   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503213298                                7.663          3,844.57   No               NO                              41.69   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            14.500            3.625                 740   Full                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      2503213337                              14.1075            254.56   No               NO                              38.29   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            14.640            0.000                 670   Stated                                  Purchase                     Investor                   Townhouse
      2503213350                                5.343          3,114.58   Yes              3YP                             39.29   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 778   Express Verified Assets                 Cash Out Refinance           Investor                   D-PUDS
      2503213384                                6.933          1,726.23   Yes              1YP                              1.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            14.750            4.375                 633   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503213425                               5.0425           2361.67   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.450            3.000                 746   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503213496                                5.993          1,445.33   Yes              3YP                             43.91   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.400            3.000                 715   Stated                                  Rate/Term Refinance          Investor                   4-FAMILY
      2503213518                                7.243          1,685.63   Yes              2YP                             41.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            14.990            4.125                 656   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503213534                               6.0425            4837.5   Yes              3YP                             31.18   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.450            3.875                 670   Stated                                  Purchase                     Owner Occupied             SFR
      2503213535                                7.408            970.36   Yes              2YP                             49.97   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090301                        20090401         23         5.550                   3.000                   1.000                     6.000            13.815            7.815                 609   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503213553                              10.4675            1476.1   No               NO                              37.28   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            11.000            0.000                 687   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503213580                                6.343          1,350.00   Yes              3YP                             37.26   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            12.750            3.625                 817   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503213591                                5.583          4,118.13   Yes              1YP                             18.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 759   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503213615                               5.4925              2301   Yes              1YP                             41.75   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.900            3.000                 725   Stated                                  Purchase                     Owner Occupied             SFR
      2503213618                               7.5555           1714.04   Yes              1YP                             25.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.963            3.000                 640   Full                                    Purchase                     Second Home                HI-RISE
      2503213647                                5.993            693.33   Yes              2YP                             42.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.400            3.000                 712   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503213650                                8.256          2,772.16   Yes              3YP                             24.75   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.663            3.000                 676   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      2503213654                                4.858            920.42   Yes              3YP                             49.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            11.875            3.500                 705   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503213687                               11.787          1,030.06   Yes              1YP                             38.06   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.319            0.000                 650   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503213717                               7.1325           1145.59   Yes              2YP                             22.47   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.540            3.000                   0   Full                                    Purchase                     Second Home                Condominium
      2503213771                                5.593          3,000.00   Yes              5YP                             45.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 682   Stated                                  Rate/Term Refinance          Owner Occupied             HI-RISE
      2503213776                                5.843          1,759.03   Yes              3YP                             21.78   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 786   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503213822                               6.0925           1291.43   No               NO                              15.88   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 699   Stated                                  Purchase                     Investor                   Condominium
      2503213886                               8.1725           2779.22   Yes              3YP                             49.29   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         4.375                   3.000                   1.000                     6.000            15.790            4.375                 620   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503213903                                5.068            893.46   Yes              3YP                             36.65   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.350            0.000                 714   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503213904                               5.7025           1477.86   Yes              2YP                             39.69   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            12.110            4.000                 681   Stated                                  Purchase                     Owner Occupied             SFR
      2503213906                                7.143          2,874.03   No               NO                              33.14   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.550            3.000                 725   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503213921                               9.2525            857.09   Yes              3YP                             45.88   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            17.000            4.125                 642   Stated                                  Purchase                     Investor                   PUD
      2503213949                               6.2175           1899.17   Yes              1YP                             43.38   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.625            3.875                 714   Stated                                  Purchase                     Owner Occupied             SFR
      2503213972                                6.878          3,079.04   Yes              3YP                             48.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            14.125            3.500                 658   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503213981                                5.958          2,368.01   Yes              3YP                             38.37   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.240            0.000                 666   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503213990                               7.5875           1002.08   No               NO                              39.01   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            14.675            3.875                 718   Stated                                  Purchase                     Owner Occupied             SFR
      2503214010                               7.3425           6096.67   Yes              3YP                             41.59   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.750            3.000                 779   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503214049                                6.093          1,711.67   Yes              3YP                             27.16   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            12.500            4.125                 677   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503214062                                5.583          1,991.68   Yes              3YP                             41.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 755   Stated                                  Cash Out Refinance           Investor                   SFR
      2503214086                                7.088          1,685.68   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.495            3.000                 644   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503214087                               8.0025           2882.87   Yes              2YP                             33.62   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090401                        20090501         24         5.550                   3.000                   1.000                     6.000            16.550           10.550                 618   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503214090                               7.7545           4641.18   Yes              2YP                             46.98   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.162            3.000                 650   Stated                                  Purchase                     Owner Occupied             SFR
      2503214091                                6.593          4,926.97   Yes              3YP                             43.63   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 746   Stated                                  Rate/Term Refinance          Owner Occupied             4-FAMILY
      2503214123                                5.768          1,826.77   Yes              3YP                             44.60   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.175            3.000                 664   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214143                                7.323          1,231.97   Yes              1YP                             45.41   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.730            3.000                 736   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503214156                                6.148          1,776.50   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            13.125            3.500                 702   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503214165                               6.3425           2910.52   Yes              3YP                             41.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 751   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503214170                              12.2675            273.19   No               NO                              42.73   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.800            0.000                 679   Stated                                  Purchase                     Investor                   SFR
      2503214173                                7.753          2,471.58   No               NO                              44.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            15.500            4.125                 650   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503214232                                5.593          1,079.88   No               NO                              39.07   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 749   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503214235                              13.2075            232.86   No               NO                              49.31   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.740            0.000                 686   Stated                                  Purchase                     Investor                   PUD
      2503214245                               5.4675           2957.69   Yes              1YP                             45.01   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 775   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503214262                                8.006          4,300.78   Yes              3YP                             42.19   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.413            4.000                 639   Stated                                  Cash Out Refinance           Investor                   SFR
      2503214301                                5.403            995.63   Yes              3YP                             27.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            12.750            3.625                 762   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503214320                                5.968          1,135.55   Yes              1YP                             40.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 683   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503214331                                6.468          2,578.13   Yes              3YP                             37.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 674   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214336                                5.543          1,066.04   Yes              3YP                             47.52   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.950            3.000                 746   Stated                                  Cash Out Refinance           Investor                   SFR
      2503214376                                6.008            939.09   Yes              3YP                             46.40   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            13.875            4.375                 630   SISA                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503214377                               5.5925              3092   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.500                   3.000                   1.000                     6.000            12.000            2.500                 800   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      2503214380                                6.093          5,064.58   Yes              3YP                             29.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 692   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503214415                               6.4675             777.8   Yes              3YP                             42.92   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 753   Stated                                  Purchase                     Investor                   SFR
      2503214429                                6.468          1,118.83   Yes              3YP                             46.05   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 625   Full                                    Cash Out Refinance           Investor                   SFR
      2503214433                                6.168          1,880.06   Yes              1YP                             41.10   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.450            0.000                 701   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503214438                                6.488          2,317.10   Yes              3YP                             45.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.895            3.000                 682   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503214441                              12.9675            272.61   No               NO                              34.99   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.500            0.000                 705   Stated                                  Purchase                     Investor                   SFR
      2503214465                                6.468          7,809.33   Yes              1YP                             49.94   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 740   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214475                                5.493          1,032.50   No               NO                              37.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.900            3.000                 773   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503214490                                7.193          1,235.00   Yes              2YP                             33.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.600            3.000                 668   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214515                               5.9675           3140.75   No               NO                              44.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 709   Stated                                  Purchase                     Owner Occupied             SFR
      2503214522                               5.7175           2347.92   Yes              1YP                             38.46   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.125            3.000                 768   Stated                                  Purchase                     Owner Occupied             SFR
      2503214536                                6.093            555.16   No               NO                              50.32   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 757   Stated                                  Rate/Term Refinance          Second Home                SFR
      2503214541                               5.5825           2475.87   Yes              2YP                             32.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 766   Stated                                  Purchase                     Owner Occupied             SFR
      2503214542                                6.133          3,270.00   Yes              3YP                             43.61   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.540            3.000                 695   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503214544                                6.343            856.41   Yes              3YP                             29.04   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 668   SISA                                    Rate/Term Refinance          Investor                   Condominium
      2503214547                                6.468            985.42   Yes              3YP                             48.95   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.875            3.875                 639   Stated                                  Cash Out Refinance           Second Home                Condominium
      2503214582                                5.893          1,806.00   No               NO                              42.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.300            3.000                 645   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503214655                                6.208          2,238.77   No               NO                              42.38   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.615            3.000                 677   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503214677                                5.543          1,413.13   Yes              1YP                             43.49   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.950            3.000                 769   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503214682                                6.538          1,331.13   Yes              1YP                             38.26   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.945            3.000                 635   SISA                                    Cash Out Refinance           Investor                   SFR
      2503214745                                5.243          4,049.17   No               NO                              29.03   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.650            3.000                 715   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503214765                               5.9845            632.79   Yes              2YP                             37.21   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.392            3.000                 689   Full                                    Purchase                     Investor                   Condominium
      2503214784                                7.173          1,413.39   Yes              1YP                             20.35   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            14.310            3.750                 747   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503214803                                6.038          3,002.14   Yes              2YP                             39.02   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.320            0.000                 800   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503214812                                5.593          1,360.00   Yes              3YP                             40.31   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 715   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214814                                6.643            748.48   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.925            0.000                 726   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503214833                               6.5825           2038.75   No               NO                              42.65   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 649   Stated                                  Purchase                     Owner Occupied             Condominium
      2503214838                               6.2175            1987.5   Yes              1YP                             49.69   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 676   Stated                                  Purchase                     Owner Occupied             SFR
      2503214852                                6.093            650.00   Yes              2YP                             32.68   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 626   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503214853                               6.4625           2527.87   Yes              5YP                             48.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.630            4.000                 660   Stated                                  Purchase                     Owner Occupied             Condominium
      2503214855                               5.7175           1755.83   Yes              2YP                             40.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 711   Full                                    Purchase                     Owner Occupied             SFR
      2503214860                                6.218          4,631.48   Yes              3YP                             33.14   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 701   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503214870                               8.3825            2218.5   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            15.860            3.750                 680   Express Non-Verified Assets             Purchase                     Owner Occupied             Condominium
      2503214879                               5.7055              2272   Yes              1YP                             33.97   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.113            3.000                 673   Stated                                  Purchase                     Owner Occupied             SFR
      2503214886                               5.7175            566.31   Yes              1YP                             35.88   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 737   Stated                                  Purchase                     Investor                   PUD
      2503214897                                5.268          1,404.56   Yes              3YP                             35.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.675            3.000                 791   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503214911                               5.3925            700.42   Yes              3YP                             35.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.800            3.000                 757   Stated                                  Purchase                     Owner Occupied             Condominium
      2503214949                              11.9675           1833.02   No               NO                              48.42   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.500            0.000                 640   Stated                                  Purchase                     Owner Occupied             Condominium
      2503214957                                5.968          2,635.00   Yes              3YP                             34.52   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 768   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503214985                               5.4675           2624.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.875            3.875                 757   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      2503214990                                6.883          2,658.42   No               NO                              49.22   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.290            3.000                 710   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215006                                6.333          2,359.00   Yes              3YP                             27.51   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.740            3.000                 705   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503215030                                5.868          1,255.00   Yes              3YP                             41.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.275            3.000                 794   Stated                                  Cash Out Refinance           Investor                   SFR
      2503215038                               7.4525           2143.81   Yes              2YP                             40.84   2/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20090301                        20090401         23         6.550                   3.000                   1.000                     6.000            15.990            9.990                 639   Stated                                  Purchase                     Owner Occupied             Condominium
      2503215068                                6.093          1,487.50   Yes              3YP                             41.71   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 742   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215086                                5.958          1,842.77   Yes              3YP                             47.50   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.365            3.875                 617   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503215090                               5.8425           3583.33   No               NO                              31.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 740   Stated                                  Purchase                     Owner Occupied             SFR
      2503215099                                6.468          2,257.29   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            12.875            4.000                 645   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503215142                               6.0925           2036.67   Yes              3YP                             43.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 701   Full                                    Purchase                     Owner Occupied             HI-RISE
      2503215171                                5.583          1,976.70   No               NO                              33.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 729   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503215177                                5.668          2,355.21   Yes              3YP                             39.20   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.950            0.000                 784   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215189                                5.968          1,678.75   Yes              3YP                             49.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 736   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503215190                               7.2525            657.81   Yes              3YP                             41.36   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.625                   3.000                   1.000                     6.000            14.430            3.625                 718   Stated                                  Purchase                     Investor                   Condominium
      2503215197                                5.718          2,108.42   Yes              3YP                             42.67   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 792   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215211                                5.998          3,501.10   Yes              3YP                              9.56   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.280            0.000                 641   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503215220                                7.593            946.67   No               NO                              38.12   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.000            3.000                 632   SISA                                    Rate/Term Refinance          Owner Occupied             HI-RISE
      2503215257                                5.968          1,450.31   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 786   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503215347                                7.468          2,565.94   No               NO                              41.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.875            3.000                 710   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503215349                                6.093          3,466.67   No               NO                              41.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 702   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215367                               7.9675           1758.75   Yes              3YP                             10.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.375            3.000                 640   Full                                    Purchase                     Second Home                HI-RISE
      2503215376                                5.693          2,135.00   Yes              1YP                             42.86   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.100            3.000                 738   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215379                               5.3425           9056.25   Yes              1YP                             42.25   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.750            3.875                 714   Full                                    Purchase                     Owner Occupied             SFR
      2503215389                               5.9095           2210.95   Yes              1YP                             39.11   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.317            3.000                 656   Stated                                  Purchase                     Owner Occupied             SFR
      2503215407                               12.093            229.56   No               NO                              44.74   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            12.625            0.000                 692   Stated                                  Cash Out Refinance           Investor                   SFR
      2503215423                                6.343          1,687.50   No               NO                              16.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 764   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503215437                                5.468          2,281.46   Yes              3YP                             17.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.875            3.000                 709   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503215458                                6.218          2,123.33   Yes              3YP                             42.21   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 703   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503215501                                6.343          6,890.63   Yes              1YP                             38.80   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 661   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215524                                6.093          1,526.96   No               NO                              25.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 700   Stated                                  Rate/Term Refinance          Investor                   3-FAMILY
      2503215531                                6.363            803.94   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.770            3.000                 675   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503215574                                6.333          2,182.07   Yes              3YP                             24.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.740            3.000                 705   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503215575                                5.343            900.83   Yes              1YP                             41.31   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 738   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      2503215578                                6.133          1,771.25   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.540            3.000                 755   Express Verified Assets                 Cash Out Refinance           Investor                   PUD
      2503215579                                5.833          3,232.29   No               NO                              40.40   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.250            3.625                 680   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215590                                6.468          3,911.05   Yes              3YP                             49.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 755   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215603                                6.343          3,450.52   No               NO                              35.14   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 623   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215605                                6.193          4,125.00   Yes              3YP                              0.00   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.600            3.000                 643   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503215609                               5.5825           3394.33   Yes              3YP                             41.71   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.990            3.000                 791   Stated                                  Purchase                     Owner Occupied             SFR
      2503215610                                5.783          2,331.57   Yes              3YP                             40.54   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.190            3.000                 688   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215646                               5.8425           5387.53   Yes              3YP                             15.74   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 640   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503215647                                5.583          2,236.27   Yes              3YP                             40.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 685   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503215670                                6.573          1,917.17   Yes              3YP                             49.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.980            3.000                 636   Full                                    Cash Out Refinance           Investor                   SFR
      2503215681                               9.0325           4411.47   Yes              1YP                             44.47   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         5.550                   3.000                   1.000                     6.000            16.990           10.990                 621   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503215702                               12.968            916.33   No               NO                              31.27   30/15 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            13.500            0.000                 702   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503215704                                6.093          2,800.42   Yes              3YP                             42.01   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 784   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215717                               7.5925           3786.67   Yes              1YP                             48.38   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090401                        20090501         24         3.000                   3.000                   1.000                     6.000            14.000            3.000                 704   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503215728                                5.993            693.33   Yes              2YP                             43.18   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.400            3.000                 712   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503215741                                5.583          1,936.77   Yes              3YP                             35.50   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 703   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215757                                5.708          1,264.97   Yes              3YP                             42.77   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.990            0.000                 704   SISA                                    Cash Out Refinance           Owner Occupied             2-FAMILY
      2503215800                                5.868          3,070.51   Yes              3YP                             39.65   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.150            0.000                 623   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503215823                                6.468          1,272.87   Yes              3YP                             41.05   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 653   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215860                               7.5125           1285.35   Yes              3YP                             42.62   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.920            3.000                 627   Full                                    Purchase                     Owner Occupied             Condominium
      2503215875                                5.328          1,479.00   Yes              3YP                             41.18   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.525            3.875                 642   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503215878                                9.583          1,798.20   No               NO                              49.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            15.990            3.000                 639   Stated                                  Cash Out Refinance           Investor                   3-FAMILY
      2503215932                               5.9575            934.86   Yes              2YP                             40.09   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.365            3.000                 719   Stated                                  Purchase                     Owner Occupied             Condominium
      2503215971                                9.848          1,852.20   Yes              3YP                             38.12   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            17.025            3.625                 717   Stated                                  Cash Out Refinance           Investor                   D-PUDS
      2503215974                                6.018          3,270.62   Yes              3YP                             38.95   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.300            0.000                 728   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503215977                               5.9675            787.11   Yes              3YP                             14.77   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 784   Full                                    Purchase                     Investor                   SFR
      2503215990                                5.593          1,025.00   No               NO                              49.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 622   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503215996                                5.778          2,100.53   Yes              3YP                             41.16   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.950            0.000                 787   SISA                                    Cash Out Refinance           Owner Occupied             Condominium
      2503215999                               6.8425              3625   No               NO                              45.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            13.250            3.500                 723   Stated                                  Purchase                     Investor                   SFR
      2503216015                                6.093          2,220.98   Yes              3YP                             37.51   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.375            0.000                 641   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503216016                                5.343          2,108.33   Yes              3YP                             48.49   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.750            3.875                 685   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216018                                6.113            623.47   Yes              3YP                             37.93   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.520            3.875                 692   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503216019                               5.9675            902.46   No               NO                              27.83   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 739   Full                                    Purchase                     Investor                   SFR
      2503216076                                5.593          1,904.75   Yes              3YP                             46.83   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.875            0.000                 789   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503216088                                5.843          1,505.73   Yes              3YP                             41.76   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 763   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216103                                5.718            809.39   Yes              3YP                             37.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 636   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503216116                                6.547          1,865.27   Yes              3YP                             31.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            13.725            3.750                 727   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503216118                               6.4675            610.44   Yes              3YP                             36.52   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 695   Stated                                  Purchase                     Investor                   Condominium
      2503216127                                6.253          1,454.85   Yes              3YP                             35.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.250                   3.000                   1.000                     6.000            13.990            4.250                 677   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216135                               6.4675            610.44   Yes              3YP                             36.52   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 695   Stated                                  Purchase                     Investor                   Condominium
      2503216144                                6.093          1,392.08   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 707   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503216151                                8.563          3,762.79   Yes              2YP                             49.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            15.700            3.875                 741   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216153                               5.4675             709.9   No               NO                              36.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 750   Stated                                  Purchase                     Investor                   SFR
      2503216174                                6.218          2,085.82   Yes              3YP                             54.79   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 641   SISA                                    Cash Out Refinance           Investor                   SFR
      2503216186                               5.8425              2250   Yes              3YP                             42.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 668   Stated                                  Purchase                     Owner Occupied             SFR
      2503216189                                5.468          1,684.17   Yes              2YP                              1.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.875            3.875                 750   SISA                                    Cash Out Refinance           Investor                   2-FAMILY
      2503216225                                6.583            929.67   Yes              3YP                             31.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 681   SISA                                    Cash Out Refinance           Investor                   Townhouse
      2503216230                                6.468          1,170.00   Yes              3YP                             35.68   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 715   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503216251                                5.493          1,198.44   Yes              2YP                             37.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.900            3.000                 698   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503216276                               5.8425           1074.22   No               NO                              49.55   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.250            3.875                 723   Stated                                  Purchase                     Investor                   SFR
      2503216279                                5.878          1,320.92   Yes              3YP                             36.80   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.550            0.000                 756   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503216287                                5.643            660.46   No               NO                              22.02   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.050            3.000                 701   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503216313                               6.4675           4239.58   Yes              1YP                             35.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 692   Stated                                  Purchase                     Second Home                SFR
      2503216353                                5.583          3,743.75   Yes              3YP                             20.98   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            11.990            3.000                 699   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503216367                               5.2225           2233.23   Yes              1YP                             29.41   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.630            3.000                 695   Stated                                  Purchase                     Owner Occupied             SFR
      2503216388                                5.793          1,730.83   Yes              3YP                             50.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.200            3.000                 681   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216397                                5.718          2,817.50   Yes              3YP                             49.44   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.125            3.000                 704   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503216413                               6.7175            2612.5   No               NO                              49.44   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 704   Stated                                  Purchase                     Investor                   D-PUDS
      2503216419                                6.018            995.88   Yes              2YP                             47.47   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.425            3.000                 683   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503216452                                6.468          1,260.42   Yes              3YP                             49.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.875            3.000                 661   SISA                                    Cash Out Refinance           Investor                   SFR
      2503216476                                6.583            996.95   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 742   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             Condominium
      2503216506                                5.408          1,245.38   No               NO                              35.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.815            3.875                 784   SISA                                    Rate/Term Refinance          Investor                   SFR
      2503216508                                6.093          1,245.83   Yes              3YP                             42.88   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.875                   3.000                   1.000                     6.000            12.500            3.875                 662   SISA                                    Rate/Term Refinance          Investor                   Condominium
      2503216540                                5.998          1,266.47   Yes              3YP                             36.98   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.280            0.000                 753   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216543                                6.923          3,605.44   Yes              2YP                             45.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.330            3.000                 698   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216567                                5.693          1,413.17   Yes              3YP                             31.36   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.100            3.000                 645   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216569                                7.093          1,288.75   Yes              3YP                             39.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     4.490            11.990            3.000                 643   SISA                                    Cash Out Refinance           Investor                   2-FAMILY
      2503216571                               6.1175           1141.88   Yes              1YP                             42.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.525            3.000                 693   Stated                                  Purchase                     Owner Occupied             PUD
      2503216623                                5.028          1,477.32   Yes              3YP                             47.75   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.375                   3.000                   1.000                     6.000            11.875            3.375                 766   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503216625                                5.468          2,937.50   No               NO                              38.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 771   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216651                                5.468          2,640.68   Yes              3YP                             44.62   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            12.575            3.750                 621   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503216655                                5.343          3,368.54   Yes              1YP                             44.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.750            3.875                 755   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216705                                5.393          1,812.50   No               NO                              41.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.800            3.000                 722   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216721                                5.288          1,934.41   Yes              3YP                             49.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            12.475            3.750                 745   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503216724                                5.968          1,524.16   Yes              3YP                             45.23   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 680   Stated                                  Cash Out Refinance           Owner Occupied             HI-RISE
      2503216725                                6.468          1,480.99   Yes              2YP                             33.18   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 620   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503216746                                6.288          1,169.39   Yes              2YP                             43.02   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.575            3.875                 705   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216748                                6.623          1,021.69   Yes              1YP                             34.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.030            3.000                 694   Stated                                  Cash Out Refinance           Investor                   SFR
      2503216756                                6.118          2,582.81   No               NO                              41.33   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.525            3.000                 698   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216764                                5.843          4,609.38   Yes              1YP                             39.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 692   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      2503216796                                6.613          3,235.95   Yes              3YP                             38.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.990            3.625                 700   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503216804                               6.3425            809.44   Yes              3YP                             41.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 697   Stated                                  Purchase                     Second Home                Condominium
      2503216819                                6.498          1,971.26   Yes              3YP                             47.20   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.450            0.000                 690   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503216842                                6.343          2,205.00   Yes              2YP                             47.42   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 635   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503216857                                5.553          2,708.44   Yes              3YP                             35.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 664   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216885                               5.3425           2200.33   Yes              3YP                             43.97   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.750            3.875                 720   Full                                    Purchase                     Owner Occupied             D-PUDS
      2503216910                                5.843          1,183.59   Yes              2YP                             33.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 791   Stated                                  Cash Out Refinance           Investor                   SFR
      2503216919                                5.493          1,216.88   Yes              3YP                             42.98   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.900            3.000                 670   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216923                                6.468            928.13   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 786   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      2503216944                                5.993          2,773.33   Yes              3YP                             43.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.400            3.875                 669   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503216973                                6.218          1,188.29   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 673   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217085                                6.343          1,255.01   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 761   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503217112                                5.193          2,333.33   Yes              3YP                             43.68   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.875                   3.000                   1.000                     6.000            11.600            3.875                 755   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217164                                6.918            840.00   Yes              3YP                             48.62   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.200            0.000                 658   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      2503217221                                7.583          5,667.91   Yes              1YP                             32.26   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.990            3.000                 669   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217257                                5.543          2,186.63   Yes              3YP                             43.70   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.950            3.000                 758   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217263                               5.8075           1457.46   Yes              3YP                             43.21   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.630            0.000                 789   Full                                    Purchase                     Owner Occupied             SFR
      2503217266                               6.0825              1298   Yes              3YP                             40.69   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.490            3.000                 760   Stated                                  Purchase                     Owner Occupied             SFR
      2503217295                               6.1425           1659.33   Yes              3YP                             44.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.550            3.875                 691   Stated                                  Purchase                     Owner Occupied             SFR
      2503217306                                5.843          4,951.04   No               NO                              33.25   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 792   Full                                    Rate/Term Refinance          Second Home                D-PUDS
      2503217319                               5.8925              1764   Yes              1YP                             36.92   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100401                        20100501         36         3.875                   3.000                   1.000                     6.000            12.300            3.875                 770   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503217326                                6.503          3,434.06   Yes              1YP                             43.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            14.250            4.125                 646   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217347                                5.468          1,223.96   Yes              3YP                             50.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 775   Stated                                  Cash Out Refinance           Investor                   SFR
      2503217349                               7.9675            850.52   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.375            3.000                 694   Express Verified Assets                 Purchase                     Investor                   3-FAMILY
      2503217358                                5.593          2,085.00   No               NO                              32.23   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.000            3.000                 721   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217360                                6.843            803.54   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 751   Express Verified Assets                 Cash Out Refinance           Investor                   HI-RISE
      2503217361                               8.9725           1473.29   Yes              3YP                             42.24   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            16.920            4.125                 645   Stated                                  Purchase                     Investor                   Condominium
      2503217404                                5.583          3,132.27   No               NO                              37.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.990            3.000                 756   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503217415                               6.2675               979   Yes              3YP                             44.38   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.550                   3.000                   1.000                     6.000            12.675            5.550                 656   Stated                                  Purchase                     Owner Occupied             SFR
      2503217431                               6.0925           1308.13   Yes              3YP                             37.59   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 689   Stated                                  Purchase                     Owner Occupied             SFR
      2503217443                               5.6225           2100.94   Yes              2YP                             37.55   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            12.750            3.625                 681   Stated                                  Purchase                     Owner Occupied             SFR
      2503217470                                6.043          1,173.90   Yes              3YP                             32.94   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.450            3.875                 654   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503217487                               8.3425            1160.1   Yes              3YP                             38.23   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.750            3.000                 756   Stated                                  Purchase                     Owner Occupied             4-FAMILY
      2503217506                                5.968          1,115.63   Yes              1YP                             49.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 647   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503217515                               5.2175            2962.5   Yes              3YP                             48.63   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 713   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503217527                               6.2875           3302.87   Yes              1YP                             41.47   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.695            3.000                 671   Stated                                  Purchase                     Owner Occupied             SFR
      2503217556                                6.593            790.94   Yes              3YP                             48.04   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 664   Stated                                  Cash Out Refinance           Investor                   SFR
      2503217558                               5.9555           1471.44   No               NO                              26.66   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.363            3.000                 718   Stated                                  Purchase                     Investor                   SFR
      2503217562                                5.343          1,495.00   Yes              3YP                             34.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.750            3.875                 693   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503217578                                5.443          2,008.50   Yes              1YP                             38.40   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.850            3.000                 699   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503217583                                5.153          2,288.87   Yes              1YP                             42.20   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.560            3.000                 735   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503217585                                6.273          4,175.00   No               NO                              49.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.680            3.000                 698   Stated                                  Cash Out Refinance           Investor                   SFR
      2503217587                               6.0125           2458.73   Yes              3YP                             36.18   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            12.990            3.625                 702   Stated                                  Purchase                     Owner Occupied             SFR
      2503217616                                9.943          1,933.39   Yes              3YP                             32.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            17.990            4.125                 647   Stated                                  Cash Out Refinance           Investor                   SFR
      2503217628                               6.9225            3080.5   No               NO                              42.62   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.330            3.000                 770   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503217638                               6.7275            690.61   Yes              3YP                             35.03   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.135            3.000                 717   Stated                                  Purchase                     Investor                   Condominium
      2503217655                                8.143          2,724.88   Yes              1YP                             40.59   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            15.430            3.875                 708   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503217663                                6.363          2,542.00   Yes              3YP                             47.45   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.440            3.625                 710   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503217692                               6.1175           1549.69   Yes              3YP                             49.28   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.525            3.000                 646   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503217702                                5.218          1,289.06   No               NO                              54.33   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.625            3.000                 743   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503217724                               5.8325            3802.5   Yes              3YP                             38.72   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.240            3.000                 691   Stated                                  Purchase                     Owner Occupied             SFR
      2503217748                               6.6225           1141.79   Yes              3YP                             36.07   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.030            3.000                 749   Stated                                  Purchase                     Investor                   Condominium
      2503217755                                6.443          1,798.12   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.850            3.000                 713   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503217775                               6.2175            749.45   No               NO                              39.21   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.625            3.000                 716   Stated                                  Purchase                     Investor                   SFR
      2503217802                                6.718          4,037.50   Yes              3YP                             32.33   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            3.000                 689   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503217817                                6.468          2,566.67   No               NO                              26.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 653   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503217839                                7.192          2,108.72   No               NO                              37.71   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.599            3.000                 649   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503217853                               6.1175            2834.3   Yes              1YP                             33.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.525            3.000                 670   Stated                                  Purchase                     Owner Occupied             SFR
      2503217881                                6.193          1,100.00   Yes              3YP                             32.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.600            3.000                 731   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      2503217894                               6.0425           1845.24   Yes              3YP                             46.35   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.450            3.000                 695   Stated                                  Purchase                     Owner Occupied             SFR
      2503217955                                6.393          1,777.07   No               NO                              39.73   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.800            3.875                 669   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503217979                               6.3425           2098.69   No               NO                              47.07   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 683   Stated                                  Purchase                     Owner Occupied             SFR
      2503218041                               5.3425           2318.98   Yes              1YP                             38.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 691   Stated                                  Purchase                     Owner Occupied             SFR
      2503218099                                6.843          1,033.50   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 726   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      2503218101                                5.858          2,666.25   Yes              3YP                             48.07   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 755   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503218107                               5.7175           1929.38   Yes              3YP                             36.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 686   Stated                                  Purchase                     Investor                   2-FAMILY
      2503218154                                6.668            827.43   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.950            0.000                 692   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503218214                               7.2425           2043.67   Yes              3YP                             39.09   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            14.790            4.125                 642   SISA                                    Purchase                     Owner Occupied             SFR
      2503218232                               7.0925              3250   Yes              3YP                             42.66   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 732   Stated                                  Purchase                     Owner Occupied             Condominium
      2503218287                                5.831          1,460.73   No               NO                              34.74   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.238            3.000                 712   Stated                                  Cash Out Refinance           Investor                   SFR
      2503218313                                6.218          4,519.29   Yes              3YP                             39.62   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 709   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218341                               6.4675               825   Yes              2YP                             34.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 787   Stated                                  Purchase                     Investor                   Condominium
      2503218361                                6.968          1,720.83   Yes              3YP                             44.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.375            3.000                 667   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218363                                5.843          1,601.56   Yes              3YP                             42.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 714   Stated                                  Rate/Term Refinance          Owner Occupied             PUD
      2503218378                                5.143          2,854.65   No               NO                              11.20   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.550            3.000                 773   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503218381                                7.680          1,253.56   Yes              1YP                             44.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.088            3.000                 648   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503218384                                6.213          1,390.20   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.620            3.000                 749   Express Non-Verified Assets             Cash Out Refinance           Investor                   PUD
      2503218401                                7.099          1,481.68   No               NO                              44.93   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.381            0.000                 652   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218406                                6.518          3,363.93   Yes              3YP                             44.32   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.800            0.000                 775   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503218427                               8.0925            2422.5   No               NO                              38.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.500            3.000                 764   SISA                                    Purchase                     Owner Occupied             2-FAMILY
      2503218453                                7.153          2,055.38   Yes              1YP                             40.58   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            14.700            3.875                 667   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218457                                6.326          1,722.53   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.733            3.875                 668   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503218479                               6.9125           3319.16   No               NO                              49.34   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            14.980            4.000                 676   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503218501                                6.093          3,168.75   Yes              3YP                             22.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 631   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218507                               8.6625           1636.31   Yes              1YP                             45.40   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            15.840            4.125                 712   SISA                                    Purchase                     Investor                   SFR
      2503218525                                5.843          2,583.33   Yes              3YP                             41.39   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 698   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503218562                               6.0675            535.54   Yes              3YP                             39.62   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.475            3.000                 746   Stated                                  Purchase                     Investor                   SFR
      2503218567                                5.843          2,833.33   Yes              3YP                             43.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 686   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218569                                6.593          2,365.42   Yes              3YP                             39.68   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 714   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503218589                                5.343          2,300.00   Yes              3YP                             41.65   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            11.750            2.750                 699   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503218603                                6.218          2,491.67   Yes              3YP                             48.57   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 727   Full                                    Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503218619                                6.718            819.65   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 704   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      2503218632                                5.343          3,301.46   No               NO                              45.38   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.750            3.000                 696   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503218639                                5.583          2,383.52   Yes              3YP                             42.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 720   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218640                                5.243          1,193.56   Yes              3YP                             32.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.650            3.000                 706   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503218647                                5.843          1,099.06   Yes              3YP                             44.51   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.250            3.000                 679   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503218653                                9.873          3,127.08   Yes              2YP                             41.58   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            17.720            3.875                 649   Stated                                  Cash Out Refinance           Investor                   SFR
      2503218665                                6.583          1,964.03   No               NO                              45.37   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            14.700            4.375                 631   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503218742                                6.037          2,239.29   Yes              3YP                             34.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.444            3.000                 688   Stated                                  Cash Out Refinance           Investor                   SFR
      2503218759                                6.468          1,160.16   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.875            3.000                 668   Express Verified Assets                 Cash Out Refinance           Investor                   2-FAMILY
      2503218765                                6.843          1,631.25   Yes              1YP                             40.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.250            3.000                 715   Full                                    Rate/Term Refinance          Investor                   3-FAMILY
      2503218771                               7.2275           2926.75   Yes              3YP                             49.90   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.635            3.875                 682   Stated                                  Purchase                     Owner Occupied             SFR
      2503218776                                6.718          2,029.17   Yes              3YP                             38.33   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 664   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218814                                7.093          1,006.87   No               NO                              42.01   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 740   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503218824                               5.8575           1217.16   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.140            0.000                 783   Full                                    Purchase                     Owner Occupied             HI-RISE
      2503218837                               6.7075            996.95   Yes              1YP                             23.62   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.990            0.000                 745   Stated                                  Purchase                     Owner Occupied             SFR
      2503218889                                5.093          2,365.00   Yes              3YP                             44.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.500            3.000                 706   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503218898                                5.418          1,431.98   Yes              1YP                             29.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.825            3.000                 741   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218911                                6.468          1,466.67   No               NO                              34.59   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.875            3.000                 722   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218923                               6.6325           2686.46   Yes              1YP                             50.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.040            3.000                 660   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503218940                                6.468            916.67   Yes              3YP                             39.77   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 647   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218963                                5.718          1,485.31   Yes              3YP                             39.33   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.125            3.875                 632   Full                                    Rate/Term Refinance          Investor                   Condominium
      2503218969                                6.043          2,687.50   Yes              1YP                             15.35   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.450            3.000                 638   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503218970                                5.701          2,833.40   Yes              3YP                             40.57   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            12.999            3.750                 725   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503218980                                5.588            779.85   Yes              3YP                             34.87   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.995            3.000                 776   Full                                    Cash Out Refinance           Second Home                SFR
      2503219012                                7.093          1,200.00   No               NO                              44.75   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.500            3.000                 787   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503219017                                6.593          1,120.00   Yes              3YP                             43.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.000            3.000                 787   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503219020                                7.343          1,059.17   No               NO                              30.71   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 620   Stated                                  Cash Out Refinance           Investor                   SFR
      2503219037                                5.093          2,560.73   Yes              1YP                             42.54   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         3.875                   3.000                   1.000                     6.000            11.500            3.875                 733   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503219081                               5.5825            862.56   Yes              3YP                             21.81   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.990            3.000                 687   SISA                                    Purchase                     Owner Occupied             D-PUDS
      2503219085                                6.343          2,870.05   Yes              1YP                             39.17   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 666   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219091                                7.093          1,174.15   Yes              2YP                             27.98   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.375            0.000                 637   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503219116                               9.1775            836.72   No               NO                              22.64   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            16.625            3.875                 671   Stated                                  Purchase                     Investor                   SFR
      2503219122                                7.343          3,875.00   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.750            3.000                 657   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             3-FAMILY
      2503219125                                5.793          2,345.67   Yes              3YP                             27.53   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.200            3.000                 776   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503219128                                6.343          1,329.63   Yes              1YP                             42.49   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 658   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219135                                6.343          1,183.67   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 778   Express No Doc Verified Assets          Cash Out Refinance           Owner Occupied             SFR
      2503219163                               8.0925           1577.81   No               NO                              43.02   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.500            3.000                 672   Stated                                  Purchase                     Owner Occupied             SFR
      2503219166                                6.343            454.02   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 701   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      2503219270                               7.9425            945.64   Yes              3YP                              9.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.350            3.000                 640   Stated                                  Purchase                     Second Home                Condominium
      2503219272                                6.973          3,403.13   No               NO                              43.73   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            14.250            3.625                 758   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219294                                5.943            981.60   Yes              3YP                             19.21   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.350            3.000                 709   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503219297                                6.343          3,164.06   Yes              2YP                             49.99   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 646   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219299                                5.593          1,820.00   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.000            3.000                 687   Express No Doc Verified Assets          Cash Out Refinance           Owner Occupied             SFR
      2503219311                                5.968          2,256.75   Yes              3YP                             43.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 704   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219312                                6.106            705.58   Yes              1YP                             28.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.513            3.875                 639   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503219341                                5.813          3,169.95   Yes              3YP                             42.64   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 661   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219349                                6.218          2,875.91   Yes              3YP                             44.56   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 751   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219364                                6.843          3,636.00   Yes              1YP                             37.94   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.250            3.000                 646   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      2503219375                               6.7925           1232.91   No               NO                              29.16   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.200            3.000                 716   Stated                                  Purchase                     Investor                   Condominium
      2503219397                                7.743            820.53   Yes              1YP                             40.62   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.150            3.000                 738   Stated                                  Cash Out Refinance           Investor                   SFR
      2503219400                                5.583          2,096.50   Yes              1YP                             41.46   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 650   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503219451                               6.3425              3375   No               NO                              42.89   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 704   Stated                                  Purchase                     Investor                   D-PUDS
      2503219464                                5.968          1,349.65   Yes              2YP                             27.88   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.250            0.000                 749   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219468                                7.148          1,807.25   No               NO                              13.14   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.430            0.000                 710   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503219475                                7.555          2,492.83   No               NO                              45.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.875                   3.000                   1.000                     6.000            15.963            4.875                 634   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219477                                9.583            789.15   Yes              3YP                             17.13   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            15.990            3.000                 643   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      2503219509                                6.553            812.50   Yes              3YP                             40.24   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            13.500            3.500                 645   FISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503219522                                6.843          3,489.40   Yes              3YP                             39.90   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.990            3.875                 647   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503219530                                8.542            804.36   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.950            3.000                 712   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503219538                               7.9525           1359.55   Yes              2YP                             43.82   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         4.625                   3.000                   1.000                     6.000            15.720            4.625                 643   SISA                                    Purchase                     Owner Occupied             SFR
      2503219541                                6.583          2,976.58   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 640   Stated                                  Cash Out Refinance           Second Home                SFR
      2503219548                               5.8425           4609.38   Yes              1YP                             32.24   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 727   Full                                    Purchase                     Owner Occupied             SFR
      2503219551                                5.968          1,965.63   Yes              3YP                             44.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 777   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      2503219562                                5.843          2,281.25   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 777   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503219596                                6.293          2,809.63   Yes              3YP                             34.24   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            13.800            3.750                 696   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503219602                                6.463          2,633.33   Yes              3YP                             45.77   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.900            3.625                 669   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219607                               7.5225           2117.01   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            14.750            3.750                 687   Express Non-Verified Assets             Purchase                     Second Home                SFR
      2503219614                                6.843          3,466.41   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.250            3.875                 698   Express Non-Verified Assets             Cash Out Refinance           Investor                   4-FAMILY
      2503219617                               5.4805           1540.16   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.888            3.000                 787   Express Verified Assets                 Purchase                     Investor                   SFR
      2503219619                                6.593          2,008.89   Yes              2YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 643   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503219626                                5.663          1,767.79   No               NO                              34.19   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            12.650            3.625                 704   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503219644                                6.513          1,502.19   Yes              3YP                             38.54   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            13.500            3.500                 757   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219658                                5.218          1,686.57   Yes              3YP                             44.23   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             5.500            0.000                 682   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219707                                7.738          3,835.63   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            15.025            3.875                 667   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503219711                                5.788          1,248.40   Yes              3YP                             47.08   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            13.125            3.500                 671   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219715                               6.6525           3608.53   No               NO                              43.74   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            14.350            3.750                 787   Full                                    Purchase                     Owner Occupied             SFR
      2503219719                                5.878            548.89   Yes              3YP                             34.76   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.160            0.000                 658   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219720                                5.843          2,669.48   Yes              3YP                             35.87   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 639   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219756                                5.718          3,062.50   Yes              3YP                             43.10   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 624   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503219770                                5.843          2,760.42   Yes              1YP                             47.52   3/6 LIBOR IO                               60    LIBOR                          6                6                             20100401                        20100501         36         3.000                   3.000                   1.000                     6.000            12.250            3.000                 716   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503219771                                6.568            801.66   No               NO                              26.84   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.975            3.000                 637   Full                                    Cash Out Refinance           Investor                   SFR
      2503219785                                5.968            573.75   Yes              3YP                             28.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            3.000                 640   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219788                               6.0925           1909.38   Yes              3YP                             39.29   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 790   Stated                                  Purchase                     Second Home                Condominium
      2503219789                               6.4425           2761.41   Yes              3YP                             28.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.850            3.875                 704   Stated                                  Purchase                     Investor                   Condominium
      2503219790                                7.308          1,851.60   Yes              1YP                             36.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.715            3.875                 639   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503219798                               5.9675           4491.86   Yes              3YP                             41.16   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 715   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503219806                                5.718          2,817.89   Yes              3YP                             44.92   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.000            0.000                 703   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219811                                5.483          2,689.77   Yes              3YP                             45.30   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.890            3.875                 637   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503219814                                6.443          1,644.00   Yes              3YP                             37.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.850            2.750                 756   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219824                               6.9675             923.1   Yes              1YP                             25.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.375            3.000                 749   Stated                                  Purchase                     Investor                   SFR
      2503219825                               7.3015           2898.14   Yes              2YP                             44.29   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            14.599            4.125                 646   Stated                                  Purchase                     Owner Occupied             SFR
      2503219843                                5.918            975.10   Yes              3YP                             41.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.325            3.000                 631   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      2503219845                                5.343          1,868.75   Yes              3YP                             44.34   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.750            3.875                 652   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219848                                6.583          4,077.50   No               NO                              26.67   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 704   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      2503219850                                6.468          1,250.16   Yes              3YP                             43.95   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 644   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503219851                               6.0925           1360.94   Yes              3YP                             16.97   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 732   Stated                                  Purchase                     Investor                   SFR
      2503219857                                6.593          1,460.94   Yes              3YP                             44.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 649   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219859                                6.893          2,190.00   Yes              3YP                             34.63   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.300            3.000                 776   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503219861                               8.3125            976.64   Yes              1YP                             21.71   7/6 LIBOR IO                               60    LIBOR                          6                6                             20140401                        20140501         84         3.875                   3.000                   1.000                     6.000            14.720            3.875                 765   SISA                                    Purchase                     Investor                   SFR
      2503219866                                5.843          4,947.92   No               NO                              32.80   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 776   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219870                                6.323          1,781.35   Yes              3YP                             48.74   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.990            3.875                 626   Full                                    Rate/Term Refinance          Investor                   2-FAMILY
      2503219904                                7.293          2,045.31   No               NO                              49.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.700            3.000                 685   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      2503219907                                7.443          1,148.63   Yes              3YP                             47.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   3.000                   1.000                     6.000            15.000            4.000                 628   Stated                                  Cash Out Refinance           Investor                   SFR
      2503219908                                7.293          2,310.00   No               NO                              49.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.700            3.000                 685   Stated                                  Rate/Term Refinance          Investor                   2-FAMILY
      2503219914                               10.093            856.20   No               NO                              35.40   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            16.500            3.000                 626   Stated                                  Cash Out Refinance           Investor                   Townhouse
      2503219917                                6.183          2,350.43   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.590            3.000                 676   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503219918                               8.8425           1974.42   No               NO                              26.41   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            15.250            3.875                 669   Stated                                  Purchase                     Investor                   3-FAMILY
      2503219927                               5.9675            1978.8   Yes              2YP                             45.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 712   Stated                                  Purchase                     Owner Occupied             SFR
      2503219937                                5.468            629.11   Yes              3YP                             38.20   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.875            3.000                 684   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503219943                               6.0925           1476.85   Yes              3YP                             42.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 687   Stated                                  Purchase                     Owner Occupied             SFR
      2503219952                                6.818          2,486.52   Yes              3YP                             41.45   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.100            0.000                 686   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503219953                                6.618          1,380.00   Yes              3YP                             40.22   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.900            0.000                 660   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503219959                                6.218          2,013.97   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 647   Express Verified Assets                 Cash Out Refinance           Owner Occupied             Condominium
      2503219969                                5.583          3,114.32   Yes              3YP                             36.29   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 706   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219990                                5.718          1,531.25   No               NO                              13.96   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.125            3.000                 776   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503219997                                6.708          1,435.86   Yes              2YP                             37.27   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.990            0.000                 673   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503219999                               6.3825           2418.94   Yes              3YP                             29.18   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.790            3.000                 704   Stated                                  Purchase                     Investor                   Condominium
      2503220005                                5.733          1,243.35   Yes              3YP                             42.39   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.140            3.000                 632   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503220008                                8.583            522.54   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.990            3.000                 727   Express Verified Assets                 Cash Out Refinance           Second Home                D-PUDS
      2503220009                                6.168          1,610.88   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            12.575            3.000                 689   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503220012                                7.218          1,500.00   Yes              3YP                             35.38   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 659   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220029                               6.6325           1712.24   Yes              3YP                             45.74   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         4.875                   3.000                   1.000                     6.000            14.300            4.875                 639   SISA                                    Purchase                     Owner Occupied             SFR
      2503220044                                5.343          1,940.63   Yes              1YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.750            3.875                 779   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      2503220045                                6.468          1,642.32   No               NO                              38.20   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 692   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503220048                               9.1425           5708.11   No               NO                              38.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            15.550            4.125                 684   Stated                                  Purchase                     Owner Occupied             SFR
      2503220049                                7.583          1,065.33   Yes              2YP                             34.72   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            13.990            3.875                 727   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220050                                6.403            781.45   Yes              2YP                             38.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.810            3.000                 680   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503220072                                6.468          3,004.95   Yes              2YP                             44.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.875            3.000                 710   Full                                    Rate/Term Refinance          Investor                   SFR
      2503220073                                6.218          1,403.19   Yes              3YP                             33.18   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 682   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503220076                                5.468            964.21   Yes              3YP                             30.39   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.875            3.000                 727   Stated                                  Rate/Term Refinance          Investor                   4-FAMILY
      2503220077                                7.218          1,747.40   Yes              2YP                             43.46   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         3.000                   3.000                   1.000                     6.000            13.625            3.000                 633   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503220094                                6.278          2,159.06   No               NO                              49.60   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            13.875            3.625                 737   Stated                                  Cash Out Refinance           Second Home                SFR
      2503220099                                6.718          1,258.75   Yes              3YP                             39.85   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.125            3.000                 776   Full                                    Cash Out Refinance           Owner Occupied             Condominium
      2503220102                                6.468          2,890.08   Yes              3YP                              0.00   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 695   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      2503220103                                6.343            846.56   Yes              2YP                             42.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 622   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220107                                6.093            947.92   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.500            3.000                 704   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503220111                                6.343          3,037.50   No               NO                              35.42   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 795   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220136                                6.083          2,650.08   No               NO                              41.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.490            3.000                 642   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220149                                6.328            856.13   Yes              3YP                             19.91   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.250            0.000                 691   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220154                                6.323          1,402.08   Yes              3YP                             29.84   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.730            3.000                 662   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220162                                6.093          1,264.14   No               NO                              28.30   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.500            3.875                 728   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220163                               6.3425              1215   Yes              2YP                             34.64   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.750            3.000                 686   Stated                                  Purchase                     Owner Occupied             SFR
      2503220173                               7.0875           1104.54   Yes              2YP                             32.01   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.370            0.000                 790   Full                                    Purchase                     Investor                   4-FAMILY
      2503220177                                6.343          2,205.00   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 661   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503220199                                8.092          1,329.45   Yes              3YP                             37.17   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.500                   3.000                   1.000                     6.000            14.500            3.500                 629   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503220210                               6.5825            3984.3   Yes              1YP                             44.66   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 729   SISA                                    Purchase                     Owner Occupied             2-FAMILY
      2503220222                               6.4475            665.12   No               NO                              42.75   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            13.375            3.625                 765   Stated                                  Purchase                     Owner Occupied             SFR
      2503220234                               6.6825           3540.27   Yes              3YP                             42.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.090            3.000                 657   Stated                                  Purchase                     Owner Occupied             SFR
      2503220257                                7.093          1,371.87   Yes              3YP                             32.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            13.500            3.750                 696   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503220268                                5.993          2,906.67   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.400            3.000                 679   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             D-PUDS
      2503220271                                5.918          1,581.25   Yes              1YP                             33.70   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.325            3.000                 759   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220288                                6.093          1,316.25   Yes              3YP                             36.61   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.500            3.875                 710   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220293                                8.342          5,332.03   No               NO                              44.73   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.750            3.000                 645   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220307                                6.468          1,070.19   Yes              1YP                             42.23   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 721   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220308                               6.0025           1340.76   Yes              2YP                             36.75   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.410            3.875                 699   Stated                                  Purchase                     Investor                   SFR
      2503220317                               5.8725           1508.39   Yes              3YP                             42.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            12.750            3.750                 745   Full                                    Purchase                     Owner Occupied             SFR
      2503220358                               6.5325           1263.66   Yes              1YP                             42.66   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.940            3.000                 780   Stated                                  Purchase                     Owner Occupied             SFR
      2503220395                                6.343          1,790.13   Yes              3YP                             35.42   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.750            3.875                 621   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503220425                               7.8925           4315.45   No               NO                              47.63   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.300            3.000                 755   Stated                                  Purchase                     Owner Occupied             Condominium
      2503220433                              10.0525           3693.86   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            17.150            3.625                 725   Express Non-Verified Assets             Purchase                     Investor                   D-PUDS
      2503220450                                6.238          2,362.76   Yes              3YP                             48.78   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.990            0.000                 760   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503220474                                6.443            502.33   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.850            3.000                 741   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      2503220476                                6.583          1,759.15   Yes              3YP                             38.17   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 642   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503220486                                5.218          1,195.31   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.625            3.000                 708   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503220487                                5.793            418.50   Yes              3YP                             27.14   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.200            3.000                 717   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220497                                5.263            897.75   Yes              3YP                             23.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.670            3.000                 717   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220512                               9.3725           3673.54   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.625                   3.000                   1.000                     6.000            16.400            3.625                 765   Express Non-Verified Assets             Purchase                     Investor                   D-PUDS
      2503220527                               8.4305           2827.79   No               NO                              44.08   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.838            3.000                 758   Stated                                  Purchase                     Investor                   D-PUDS
      2503220547                                5.468            587.50   Yes              1YP                             41.69   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.875            3.875                 747   Full                                    Cash Out Refinance           Investor                   SFR
      2503220549                               7.5825           1573.03   No               NO                              28.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.990            3.000                 677   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503220553                               5.7075           1625.84   Yes              3YP                             49.41   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.375                   3.000                   1.000                     6.000            13.325            4.375                 632   Stated                                  Purchase                     Owner Occupied             SFR
      2503220573                                6.468          1,686.36   No               NO                               0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 707   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503220574                                5.583          2,386.77   No               NO                              43.23   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            11.990            3.875                 697   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220581                                5.593          2,440.00   Yes              1YP                             28.76   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100501                        20100601         37         3.000                   3.000                   1.000                     6.000            12.000            3.000                 721   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220591                                5.843          3,046.88   Yes              3YP                             49.58   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 734   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503220602                                5.613          1,742.85   Yes              3YP                             40.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.650            3.875                 662   Stated                                  Cash Out Refinance           Owner Occupied             Condominium
      2503220612                                5.843          2,687.50   Yes              1YP                             23.86   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 773   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503220613                                5.843            963.67   Yes              3YP                             33.76   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.125            0.000                 757   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220614                               8.2575            1719.1   No               NO                              31.37   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000            10.100            0.000                 642   Stated                                  Purchase                     Owner Occupied             SFR
      2503220618                                7.318          1,444.00   Yes              1YP                             44.05   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.600            0.000                 680   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220624                               7.0025           1135.58   No               NO                              36.40   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.410            3.875                 680   Stated                                  Purchase                     Owner Occupied             Condominium
      2503220636                                7.583          1,910.04   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.990            3.000                 676   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503220637                                5.483          2,586.69   Yes              1YP                             29.55   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            11.890            3.000                 778   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220639                                6.113          2,248.33   Yes              3YP                             43.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.750                   3.000                   1.000                     6.000            13.100            3.750                 742   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220640                                5.863          2,847.63   Yes              1YP                             12.84   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.270            3.000                 728   Stated                                  Rate/Term Refinance          Investor                   4-FAMILY
      2503220667                               7.2125            808.36   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.620            3.000                 688   Express Verified Assets                 Purchase                     Second Home                SFR
      2503220674                              10.7325           2894.53   No               NO                              36.17   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.375                   3.000                   1.000                     5.200            18.000            4.375                 633   Stated                                  Purchase                     Investor                   HI-RISE
      2503220677                               7.0725           1692.06   No               NO                              45.90   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.325            0.000                 693   Stated                                  Purchase                     Owner Occupied             SFR
      2503220694                                4.968          2,041.67   Yes              3YP                             43.82   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            12.125            3.500                 684   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503220707                                5.593          1,500.00   Yes              3YP                             34.74   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.000            3.000                 749   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503220709                               7.7325           3904.78   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            14.780            3.625                 730   Express Verified Assets                 Purchase                     Investor                   SFR
      2503220712                                6.593          1,718.75   No               NO                               9.65   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 769   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503220715                                5.543            857.79   Yes              3YP                             30.03   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.950            3.875                 793   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220726                                6.843          1,141.81   Yes              3YP                             38.24   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 640   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220729                              10.2475           2559.38   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            17.375            3.625                 749   Express Non-Verified Assets             Purchase                     Investor                   Condominium
      2503220743                               8.2325           2556.09   No               NO                              33.49   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         4.625                   3.000                   1.000                     6.000            16.250            4.625                 642   SISA                                    Purchase                     Owner Occupied             SFR
      2503220746                               5.8525              1170   Yes              3YP                             45.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.125                   3.000                   1.000                     6.000            13.500            4.125                 650   Stated                                  Purchase                     Owner Occupied             SFR
      2503220793                                8.592          1,236.00   Yes              3YP                             32.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            15.000            3.000                 651   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220808                                6.763          2,621.53   No               NO                              49.57   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.170            3.000                 702   SISA                                    Cash Out Refinance           Investor                   2-FAMILY
      2503220817                               7.3175           1487.07   Yes              3YP                             38.32   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.600            0.000                 672   Stated                                  Purchase                     Second Home                Condominium
      2503220825                                5.543          2,315.54   No               NO                              28.12   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.250                   3.000                   1.000                     5.000            10.950            2.250                 715   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220831                                9.608          3,324.47   No               NO                              44.26   7/6 LIBOR                                        LIBOR                          6                6                             20140501                        20140601         85         4.625                   3.000                   1.000                     6.000            17.625            4.625                 657   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503220836                               7.8125           4698.72   Yes              2YP                             44.52   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.220            3.000                 774   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503220837                                5.693          1,058.68   Yes              3YP                             25.64   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.100            3.000                 657   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503220855                                5.568          1,195.00   Yes              3YP                             43.68   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            11.975            4.000                 744   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220858                                7.583          3,835.20   Yes              3YP                             35.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.990            3.000                 725   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503220867                                5.593          1,750.00   Yes              3YP                             27.75   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.000            3.000                 718   Stated                                  Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503220901                               8.1825           1961.03   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.590            3.000                 686   Express No Doc                          Purchase                     Owner Occupied             SFR
      2503220905                                6.868          1,965.43   No               NO                              35.50   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.150            0.000                 649   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503220944                                6.468          1,945.79   Yes              2YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 680   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503220946                                6.583          2,283.40   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.990            3.000                 661   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      2503220951                                5.833            709.10   Yes              3YP                             48.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            12.890            3.750                 620   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503220990                                6.343          2,610.00   Yes              1YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.750            3.875                 698   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503221036                                5.843          3,375.00   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 682   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503221048                               9.9525           2466.73   Yes              1YP                             36.27   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            17.350            3.625                 668   SISA                                    Purchase                     Investor                   SFR
      2503221054                               7.3355           3405.94   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            14.963            4.125                 694   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      2503221069                                8.583          1,738.07   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            14.990            3.000                 661   Express Non-Verified Assets             Cash Out Refinance           Investor                   SFR
      2503221080                                5.843          2,604.17   Yes              1YP                             42.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 782   Stated                                  Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503221087                                6.875          5,230.90   Yes              1YP                             40.87   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.282            3.000                 651   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503221114                               6.6225           3428.91   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            14.250            4.125                 690   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      2503221131                                6.803          1,510.88   Yes              3YP                             48.96   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            14.500            3.875                 675   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221149                                5.843          2,609.38   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 697   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503221167                                5.953          1,852.35   Yes              3YP                             46.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            12.990            3.625                 669   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221169                                5.843          2,508.33   Yes              1YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.875                   3.000                   1.000                     6.000            12.250            3.875                 726   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503221190                                6.468          4,864.49   Yes              1YP                             43.82   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 703   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503221204                                6.153            792.67   Yes              3YP                             43.45   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.560            3.000                 649   Stated                                  Cash Out Refinance           Investor                   SFR
      2503221216                               7.3425           2720.25   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.750            3.000                 687   Express No Doc                          Purchase                     Owner Occupied             2-FAMILY
      2503221231                               6.5625           2219.97   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.250                   3.000                   1.000                     6.000            14.250            4.250                 667   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      2503221234                                6.343          1,482.19   Yes              2YP                             44.06   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 787   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503221254                               6.7825           2974.69   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            14.350            4.125                 689   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      2503221272                               6.8425           3738.33   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 706   Express No Doc                          Purchase                     Owner Occupied             2-FAMILY
      2503221291                                6.343          1,792.87   Yes              3YP                             41.32   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.625            0.000                 709   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221296                               9.9025           1035.94   No               NO                              46.33   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            17.250            3.875                 643   Stated                                  Purchase                     Investor                   SFR
      2503221302                                6.468          2,497.10   Yes              3YP                             45.89   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.750            0.000                 649   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221339                                6.718            495.83   No               NO                              51.56   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 658   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      2503221344                               7.2125           1935.74   No               NO                              49.15   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            14.500            4.000                 707   Stated                                  Purchase                     Owner Occupied             Condominium
      2503221354                                6.843            741.09   Yes              3YP                             38.07   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 660   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221384                                7.093          2,650.00   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            13.500            3.500                 635   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503221387                               6.7245           2410.34   Yes              1YP                             36.17   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.787            0.000                 701   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503221412                                6.843          2,900.00   Yes              3YP                             43.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 721   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221414                               6.0925           2621.67   Yes              1YP                             47.56   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.500            3.875                 635   Stated                                  Purchase                     Owner Occupied             SFR
      2503221429                               6.5875            3572.1   Yes              3YP                             46.41   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.100            0.000                 715   Stated                                  Purchase                     Owner Occupied             SFR
      2503221453                                6.093          2,491.67   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.500            3.000                 633   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503221468                                6.218            755.25   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.625            3.000                 687   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             D-PUDS
      2503221489                               7.8425            710.13   Yes              1YP                             42.66   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.250            3.000                 698   SISA                                    Purchase                     Owner Occupied             SFR
      2503221498                                6.618          2,487.43   Yes              3YP                             40.08   40/30 FIXED BAL                                  FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.900            0.000                 646   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221504                                6.593          1,629.18   Yes              3YP                             41.31   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 715   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503221532                                7.228          2,372.03   Yes              3YP                             27.25   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.990            0.000                 762   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503221560                               7.3525           1655.73   Yes              1YP                             32.55   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            14.500            3.875                 657   SISA                                    Purchase                     Owner Occupied             D-PUDS
      2503221565                                6.538            710.42   Yes              3YP                             29.76   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.820            0.000                 784   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      2503221568                                6.538            716.10   Yes              3YP                             29.81   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.820            0.000                 784   Stated                                  Rate/Term Refinance          Investor                   D-PUDS
      2503221573                               7.8425           2281.39   No               NO                              28.22   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.250            3.000                 691   SISA                                    Purchase                     Owner Occupied             SFR
      2503221575                                7.218          2,456.25   Yes              1YP                             40.44   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 658   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221611                                5.343            610.94   Yes              3YP                             34.59   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.750            3.000                 771   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221642                                7.338          2,579.84   Yes              3YP                             44.36   30YR FIXED IO                              60    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.250            0.000                 779   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221677                                6.943          2,119.25   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.350            3.000                 692   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503221680                                6.718            956.67   Yes              1YP                             23.16   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 751   Full                                    Rate/Term Refinance          Investor                   PUD
      2503221685                                6.593          1,937.94   Yes              2YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.875            0.000                 654   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503221699                                5.543          1,492.46   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.950            3.875                 699   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503221747                               6.6975           1023.75   Yes              3YP                             47.04   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.500            0.000                 778   Full                                    Purchase                     Investor                   SFR
      2503221776                               6.8425           5781.44   No               NO                              44.07   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.250            3.000                 759   Stated                                  Purchase                     Investor                   SFR
      2503221815                                5.893          1,034.25   Yes              3YP                             41.57   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.300            3.875                 648   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503221874                                5.543            986.71   Yes              3YP                             44.27   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.950            3.000                 698   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503221883                                5.293          1,411.70   Yes              3YP                             42.79   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.700            3.875                 680   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221898                               7.1375           1272.59   Yes              2YP                             49.92   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.545            3.875                 687   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503221899                               6.7175           1144.32   Yes              3YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.000            0.000                 682   Express No Doc                          Purchase                     Owner Occupied             D-PUDS
      2503221911                               10.443          5,425.00   Yes              3YP                             44.92   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            16.850            3.000                 709   SISA                                    Cash Out Refinance           Investor                   4-FAMILY
      2503221940                                6.218          1,833.00   Yes              3YP                             34.83   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 754   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503221942                                6.218          1,801.39   Yes              3YP                             34.89   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 754   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503221944                                7.593          2,726.26   Yes              1YP                              0.00   30YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.875            0.000                 632   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503221952                                6.394          2,563.16   Yes              2YP                              0.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.676            0.000                 698   Express Non-Verified Assets             Rate/Term Refinance          Investor                   2-FAMILY
      2503221956                               7.0125           3069.69   Yes              3YP                             40.45   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            14.250            3.750                 777   Stated                                  Purchase                     Owner Occupied             SFR
      2503221959                                5.583          1,797.00   Yes              1YP                             33.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.990            3.000                 718   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222017                                7.153          2,450.94   No               NO                              43.94   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             8.525            0.000                 656   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503222029                               9.4325           1838.19   No               NO                              49.21   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.375                   3.000                   1.000                     6.000            16.840            4.375                 621   Stated                                  Purchase                     Investor                   2-FAMILY
      2503222044                               6.2175              1690   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 734   Stated                                  Purchase                     Owner Occupied             SFR
      2503222056                               5.4735           2187.65   Yes              3YP                             44.27   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.341            3.875                 714   Full                                    Purchase                     Owner Occupied             SFR
      2503222067                                6.268          1,969.68   Yes              3YP                              0.00   15YR FIXED                                       FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.550            0.000                 757   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503222095                               9.2525            957.38   No               NO                              23.57   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            17.100            4.125                 650   SISA                                    Purchase                     Investor                   SFR
      2503222276                               7.5325           3710.15   Yes              1YP                             49.95   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            15.100            4.125                 694   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503222398                                7.443          3,532.50   Yes              3YP                             39.93   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.850            3.000                 630   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503222410                               8.6525           4143.75   No               NO                              37.31   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140501                        20140601         85         3.875                   3.000                   1.000                     6.000            15.750            3.875                 651   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503222421                               7.5925           3736.67   No               NO                              42.27   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.000            3.000                 687   Stated                                  Purchase                     Owner Occupied             SFR
      2503222426                                8.092          1,190.00   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            14.500            3.500                 643   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      2503222473                              10.1425           3012.49   No               NO                              45.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            17.990            3.875                 656   SISA                                    Purchase                     Investor                   2-FAMILY
      2503222505                                6.218          1,153.75   Yes              3YP                              0.00   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             6.500            0.000                 689   Express Verified Assets                 Rate/Term Refinance          Second Home                D-PUDS
      2503222536                                6.468          1,736.08   Yes              3YP                             48.68   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.875            3.000                 636   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503222572                               9.5625           1244.76   Yes              1YP                             32.45   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            15.970            3.625                 753   SISA                                    Purchase                     Investor                   SFR
      2503222577                                5.243          2,064.60   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            11.650            3.875                 689   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             SFR
      2503222705                                5.253          2,963.41   Yes              3YP                             43.72   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            12.650            3.750                 729   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503222714                               9.9825            1799.1   Yes              1YP                             15.05   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.375                   3.000                   1.000                     6.000            18.000            4.375                 633   Stated                                  Purchase                     Investor                   SFR
      2503222737                                6.843          1,947.50   Yes              1YP                             32.33   30YR FIXED IO                             120    FIXED                          0                0                                                                               0         0.000                   0.000                   0.000                     0.000             7.125            0.000                 691   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222750                               9.6425           4249.89   Yes              3YP                             49.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            16.050            3.000                 676   Stated                                  Purchase                     Owner Occupied             D-PUDS
      3903000039                               5.9675           1567.19   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20100301                        20100401         35         2.875                   6.000                   2.000                     6.000            12.375            2.875                 693   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103618137                               6.8425           4006.83   No               NO                               0.00   5/1 LIBOR IO                              120    LIBOR                         12               12                             20110901                        20111001         53         3.250                   5.000                   2.000                     5.000            12.250            3.250                 695   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103642494                                5.718          1,128.02   Yes              3YP                             49.83   5/6 LIBOR IO                              120    LIBOR                          6                6                             20111201                        20120101         56         2.750                   6.000                   2.000                     6.000            12.125            2.750                 628   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103643476                                6.593          1,871.16   No               NO                              42.32   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            13.000            3.000                 641   Stated                                  Cash Out Refinance           Investor                   SFR
      1103646168                               7.4675           1968.75   No               NO                              39.42   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            13.875            2.750                 647   Stated                                  Purchase                     Investor                   SFR
      1103646798                                9.183          2,388.84   No               NO                              47.42   3/6 LIBOR                                        LIBOR                          6                6                             20100201                        20100301         34         5.550                   3.000                   1.000                     6.000            17.550           11.550                 602   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103651163                               6.7175           2731.25   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.125            3.000                 674   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103655024                               5.4675           2957.69   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         3.000                   3.000                   1.000                     6.000            11.875            3.000                 801   Express No Doc                          Purchase                     Owner Occupied             D-PUDS
      1103657475                                5.968          1,264.38   Yes              2YP                             26.70   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.375            6.375                 693   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103658445                                6.583          1,497.03   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 693   Express No Doc                          Cash Out Refinance           Owner Occupied             D-PUDS
      1103658486                               5.7175              2627   Yes              3YP                             38.61   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.125            3.000                 762   Full                                    Purchase                     Investor                   HI-RISE
      1103659219                                6.293          2,470.63   Yes              3YP                             39.73   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.700            3.000                 759   Full                                    Cash Out Refinance           Owner Occupied             Townhouse
      1103659421                               6.9675           3072.92   Yes              1YP                             45.51   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            13.375            2.750                 681   Stated                                  Purchase                     Owner Occupied             SFR
      1103660532                                5.968          1,700.00   No               NO                              42.42   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 722   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103660736                                6.218          2,746.62   Yes              3YP                             43.78   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.750                   3.000                   1.000                     6.000            12.625            2.750                 727   Stated                                  Rate/Term Refinance          Investor                   SFR
      1103661798                                7.093          1,300.00   Yes              2YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         5.000                   3.000                   1.000                     5.000            12.500            5.000                 681   Express No Doc Verified Assets          Cash Out Refinance           Owner Occupied             SFR
      1103661802                               7.4675           6398.44   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.875            5.000                 720   Express No Doc Verified Assets          Purchase                     Owner Occupied             SFR
      1103661805                               7.4675            6562.5   No               NO                              30.02   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            12.875            5.000                 734   SISA                                    Purchase                     Owner Occupied             PUD
      1103661817                                7.593            381.56   No               NO                              35.21   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         5.000                   5.000                   1.000                     5.000            13.000            5.000                 642   SISA                                    Cash Out Refinance           Investor                   SFR
      1103661824                                7.218            540.75   No               NO                              15.32   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.625            5.000                 683   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661840                               7.4675               714   No               NO                               5.78   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         5.000                   3.000                   1.000                     5.000            12.875            5.000                 659   Stated                                  Purchase                     Investor                   SFR
      1103661871                                7.843            907.50   No               NO                              19.51   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 671   Stated                                  Cash Out Refinance           Investor                   SFR
      1103661875                               7.5925           1060.13   No               NO                              17.26   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            13.000            5.000                 705   SISA                                    Purchase                     Owner Occupied             SFR
      1103661876                               7.4675           1156.49   No               NO                              36.54   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.875            5.000                 645   Stated                                  Purchase                     Owner Occupied             SFR
      1103661889                               7.0925           1095.63   No               NO                              43.42   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            12.500            5.000                 669   SISA                                    Purchase                     Owner Occupied             PUD
      1103661896                                7.593          1,350.13   No               NO                               0.00   7/6 LIBOR                                        LIBOR                          6                6                             20140301                        20140401         83         5.000                   3.000                   1.000                     5.000            13.000            5.000                 703   Express Verified Assets                 Cash Out Refinance           Investor                   3-FAMILY
      1103661906                                7.343          1,397.00   No               NO                              43.42   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         5.000                   5.000                   1.000                     5.000            12.750            5.000                 642   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103661920                               7.3425           1537.08   No               NO                              51.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            12.750            5.000                 696   Stated                                  Purchase                     Investor                   SFR
      1103661934                               7.5925           1907.79   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120201                        20120301         58         5.000                   3.000                   1.000                     5.000            13.000            5.000                 789   Express No Doc                          Purchase                     Investor                   SFR
      1103661957                                7.968          2,371.43   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 684   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      1103661973                                6.343          2,137.50   No               NO                              35.81   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         5.000                   3.000                   1.000                     5.000            11.750            5.000                 784   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103661977                               7.9675           2707.92   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.375            5.000                 639   Express No Doc Verified Assets          Purchase                     Investor                   4-FAMILY
      1103661983                               7.7175           2692.08   Yes              5YP                             31.44   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.125            5.000                 706   SISA                                    Purchase                     Owner Occupied             Condominium
      1103662022                               7.8425           4666.41   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   3.000                   1.000                     5.000            13.250            5.000                 713   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103662031                                7.843          6,050.00   No               NO                              33.61   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         5.000                   5.000                   1.000                     5.000            13.250            5.000                 655   SISA                                    Cash Out Refinance           Second Home                PUD
      1103662266                                6.718          1,148.95   Yes              1YP                             50.57   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            13.125            7.125                 678   Full                                    Cash Out Refinance           Investor                   SFR
      1103662474                                5.583          2,084.02   Yes              3YP                             39.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.990            3.000                 802   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      1103662651                                5.468          2,966.87   Yes              3YP                             34.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.875            3.000                 738   Full                                    Rate/Term Refinance          Owner Occupied             PUD
      1103662695                                8.092            772.76   Yes              3YP                             30.75   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.500            3.000                 649   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103662792                                8.092          1,703.54   No               NO                              44.31   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.500            3.000                 643   Stated                                  Cash Out Refinance           Investor                   2-FAMILY
      1103662825                                6.593            984.38   Yes              3YP                             38.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.000            3.000                 754   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      1103663149                                6.553          2,070.46   Yes              3YP                             43.34   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.750            3.875                 661   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103663310                                7.968          3,098.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.375            3.000                 773   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      1103663444                               8.3625           4361.82   Yes              1YP                             48.00   2/6 LIBOR                                        LIBOR                          6                6                             20090301                        20090401         23         9.200                   1.500                   1.500                     7.000            18.200            9.200                 620   Stated                                  Purchase                     Owner Occupied             HI-RISE
      1103663486                               8.3425           3870.57   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.750            3.000                 653   Express Non-Verified Assets             Purchase                     Investor                   SFR
      1103663552                                6.093          1,637.19   Yes              2YP                              0.00   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090401                        20090501         24         2.875                   3.000                   1.000                     6.000            12.500            2.875                 668   Express Non-Verified Assets             Cash Out Refinance           Investor                   SFR
      1103663555                                6.718          2,826.25   Yes              2YP                              0.00   2/6 LIBOR IO                              120    LIBOR                          6                6                             20090401                        20090501         24         2.875                   3.000                   1.000                     6.000            13.125            2.875                 666   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103663583                                6.593          1,586.67   Yes              3YP                             44.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.750                   3.000                   1.000                     6.000            13.000            2.750                 645   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      1103663739                               7.3575           3926.17   No               NO                              45.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            14.625            3.750                 692   Full                                    Purchase                     Owner Occupied             D-PUDS
      1103663827                               7.9675           3880.42   No               NO                              31.67   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.375            3.000                 742   SISA                                    Purchase                     Owner Occupied             D-PUDS
      1103663993                                8.467          1,921.48   No               NO                               0.00   7/6 LIBOR                                        LIBOR                          6                6                             20140501                        20140601         85         3.000                   3.000                   1.000                     6.000            14.875            3.000                 731   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             SFR
      1103664208                               7.3425           6590.99   Yes              3YP                              0.00   7/6 LIBOR                                        LIBOR                          6                6                             20140401                        20140501         84         3.250                   5.000                   1.000                     5.000            12.750            3.250                 664   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664215                                6.718          5,462.50   No               NO                              45.43   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.250                   5.000                   1.000                     5.000            12.125            3.250                 688   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103664217                                6.968          2,762.70   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.250                   5.000                   1.000                     5.000            12.375            3.250                 738   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664235                               6.7425           2052.66   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.500            4.000                 698   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664238                               6.2025           2251.76   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.170            4.000                 670   Express Verified Assets                 Purchase                     Owner Occupied             D-PUDS
      1103664243                               7.0925           1020.01   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.500            2.875                 669   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664269                               5.9675            944.14   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            12.375            2.875                 681   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664273                               7.5925           1996.43   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         2.875                   6.000                   2.000                     6.000            14.000            2.875                 687   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103664287                                7.468          1,618.84   Yes              1YP                             45.74   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 666   Stated                                  Cash Out Refinance           Owner Occupied             PUD
      1103664294                               7.3825            3083.9   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.875                   6.000                   2.000                     6.000            14.750            3.875                 704   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664306                               6.9075           1866.29   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.875            4.000                 670   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664309                               7.4675           1836.84   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 674   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103664315                               7.1075           3421.88   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            15.125            4.000                 661   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664408                               6.8425           3861.83   Yes              1YP                             36.41   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 763   Stated                                  Purchase                     Owner Occupied             PUD
      1103664409                                7.693          1,146.61   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            14.750            3.625                 732   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103664410                               7.2475           1048.65   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.625            4.000                 696   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664412                               7.4025           1507.96   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100401                        20100501         36         3.750                   6.000                   2.000                     6.000            14.750            3.750                 667   Express No Doc                          Purchase                     Investor                   Condominium
      1103664414                               7.4675           1171.44   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.875            2.875                 665   Express Verified Assets                 Purchase                     Second Home                Condominium
      1103664415                                6.593          2,982.87   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.000            2.875                 663   Express Verified Assets                 Cash Out Refinance           Owner Occupied             PUD
      1103664416                                7.093          3,093.75   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.500            2.875                 709   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103664418                                7.093            842.33   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.500            2.875                 704   Express No Doc                          Cash Out Refinance           Owner Occupied             Condominium
      1103664420                               6.8725           2227.78   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120301                        20120401         59         3.625                   6.000                   2.000                     6.000            14.000            3.625                 706   Express Verified Assets                 Purchase                     Investor                   PUD
      1103664425                               7.0925           1421.43   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.500            2.875                 727   Express No Doc                          Purchase                     Investor                   PUD
      1103664426                                6.903          1,255.04   Yes              3YP                             49.60   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.625                   6.000                   2.000                     6.000            14.000            3.625                 670   Full                                    Cash Out Refinance           Owner Occupied             PUD
      1103664427                                6.843            701.08   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 733   Express Verified Assets                 Cash Out Refinance           Investor                   2-FAMILY
      1103664428                                6.968          1,961.52   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.375            2.875                 650   Express Verified Assets                 Cash Out Refinance           Investor                   3-FAMILY
      1103664431                                7.718          1,780.21   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.125            2.875                 764   Express No Doc                          Rate/Term Refinance          Investor                   SFR
      1103664432                                7.718          2,212.64   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.125            2.875                 700   Express No Doc                          Cash Out Refinance           Investor                   2-FAMILY
      1103664434                               6.0125           1897.76   Yes              3YP                             46.90   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         4.000                   6.000                   2.000                     6.000            14.500            4.000                 634   Full                                    Purchase                     Investor                   SFR
      1103664435                               7.8425              4400   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.250            2.875                 664   Express No Doc                          Purchase                     Owner Occupied             Condominium
      1103664436                               6.3475           1070.08   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            13.875            4.000                 625   Express Verified Assets                 Purchase                     Owner Occupied             Condominium
      1103664437                                7.843          1,051.77   Yes              3YP                              0.00   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            14.250            2.875                 620   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      1103664438                               8.0925           3540.96   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.500            2.875                 664   Express Verified Assets                 Purchase                     Investor                   SFR
      1103664439                               6.8425            560.74   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 671   Express Verified Assets                 Purchase                     Investor                   Condominium
      1103664441                                7.218            792.73   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.625            2.875                 712   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103664442                                7.218            792.73   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.625            2.875                 712   Express No Doc                          Cash Out Refinance           Investor                   SFR
      1103664443                                6.498          1,363.61   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.125            4.000                 632   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664444                               7.3425             612.9   Yes              3YP                             47.56   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.750            2.875                 633   Stated                                  Purchase                     Owner Occupied             Condominium
      1103664445                               8.0925            2081.6   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.500            2.875                 792   Express No Doc                          Purchase                     Investor                   Condominium
      1103664446                               7.2275           1019.24   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.625            4.000                 666   Express Verified Assets                 Purchase                     Investor                   SFR
      1103664447                               6.5925           1973.48   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140401                        20140501         84         2.875                   6.000                   2.000                     6.000            13.000            2.875                 651   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664448                                6.473            870.46   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.250                   6.000                   2.000                     6.000            13.250            3.250                 762   Express No Doc                          Rate/Term Refinance          Owner Occupied             SFR
      1103664449                               7.0925           2000.54   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.500            2.875                 693   Express No Doc                          Purchase                     Second Home                PUD
      1103664450                               7.3475           2172.16   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.625            4.000                 683   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      1103664451                                6.843          2,533.10   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 700   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664458                               7.5925               990   Yes              1YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140501                        20140601         85         2.875                   6.000                   2.000                     6.000            14.000            2.875                 738   Express No Doc                          Purchase                     Investor                   Condominium
      1103664459                                8.092          6,197.92   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.500            2.875                 692   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664462                                7.298          1,637.44   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            14.875            4.000                 636   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             PUD
      1103664463                               7.0075           1429.44   Yes              3YP                             49.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            15.125            4.000                 649   Full                                    Purchase                     Investor                   PUD
      1103664464                               7.7025           3681.76   No               NO                               0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120401                        20120501         60         3.625                   6.000                   2.000                     6.000            14.750            3.625                 727   Express Verified Assets                 Purchase                     Investor                   4-FAMILY
      1103664466                               6.9525           1408.49   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.250                   6.000                   2.000                     6.000            13.750            3.250                 658   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103664467                               6.5925           2964.52   Yes              3YP                             28.54   3/6 LIBOR                                        LIBOR                          6                6                             20100501                        20100601         37         2.875                   6.000                   2.000                     6.000            13.000            2.875                 766   Stated                                  Purchase                     Owner Occupied             Condominium
      1103664470                                7.343          3,379.72   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.750            2.875                 654   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664473                               7.8425           4088.56   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            14.250            2.875                 644   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664477                                6.573          2,283.59   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.750                   6.000                   2.000                     6.000            13.750            3.750                 697   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664480                                6.593          3,383.33   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.000            2.875                 690   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103664481                                7.218            460.07   Yes              1YP                              0.00   3/6 LIBOR                                        LIBOR                          6                6                             20100401                        20100501         36         2.875                   6.000                   2.000                     6.000            13.625            2.875                 759   Express No Doc                          Cash Out Refinance           Second Home                PUD
      1103664484                               6.7225           1556.65   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         3.500                   6.000                   2.000                     6.000            13.750            3.500                 703   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664485                               7.2675           1922.72   Yes              1YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         4.000                   6.000                   2.000                     6.000            15.125            4.000                 654   Express Verified Assets                 Purchase                     Owner Occupied             PUD
      1103664488                                6.843          1,785.96   No               NO                               0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 748   Express No Doc                          Cash Out Refinance           Owner Occupied             SFR
      1103664490                                6.843            972.30   Yes              3YP                              0.00   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.250            2.875                 654   Express Verified Assets                 Rate/Term Refinance          Owner Occupied             Condominium
      1103664491                                6.718          1,045.00   Yes              3YP                             38.97   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120401                        20120501         60         2.875                   6.000                   2.000                     6.000            13.125            2.875                 645   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103664690                               6.3325           1963.33   No               NO                              43.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            13.750            4.125                 689   Stated                                  Purchase                     Owner Occupied             D-PUDS
      1103664824                               8.3275           2102.34   No               NO                              40.50   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            15.375            3.625                 738   Stated                                  Purchase                     Investor                   SFR
      1103664858                               6.7175            1691.9   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.750                   3.000                   1.000                     6.000            13.125            7.125                 720   Express Non-Verified Assets             Purchase                     Owner Occupied             D-PUDS
      1103664892                                8.467          1,479.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.875                   6.000                   2.000                     6.000            14.875            2.875                 643   Express Verified Assets                 Cash Out Refinance           Investor                   4-FAMILY
      1103664893                                8.467          1,479.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.875                   6.000                   2.000                     6.000            14.875            2.875                 643   Express Verified Assets                 Cash Out Refinance           Investor                   4-FAMILY
      1103664897                                7.323          3,032.75   Yes              3YP                              0.00   3/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20100501                        20100601         37         4.000                   6.000                   2.000                     6.000            14.750            4.000                 662   Express No Doc                          Cash Out Refinance           Owner Occupied             PUD
      1103664903                                7.358          2,054.42   No               NO                              40.79   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.000                   6.000                   2.000                     6.000            15.375            4.000                 620   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103664904                                8.217            920.00   Yes              3YP                              0.00   3/6 LIBOR IO                              120    LIBOR                          6                6                             20100501                        20100601         37         2.875                   6.000                   2.000                     6.000            14.625            2.875                 632   Express Verified Assets                 Cash Out Refinance           Investor                   Condominium
      1103665020                               8.4875           2110.78   Yes              3YP                             48.37   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            15.875            3.875                 700   Stated                                  Purchase                     Owner Occupied             Condominium
      1103665119                               6.0925              1625   Yes              3YP                             42.12   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   6.000                   1.000                     5.000            11.500            2.500                 743   Stated                                  Purchase                     Owner Occupied             SFR
      1103665121                                5.843          2,062.50   Yes              3YP                              0.00   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140301                        20140401         83         2.500                   5.000                   1.000                     5.000            11.250            2.500                 654   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      1103665138                               6.5925           2487.33   Yes              6MP                             29.18   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120301                        20120401         59         2.500                   5.000                   1.000                     5.000            12.000            2.500                 657   Stated                                  Purchase                     Owner Occupied             SFR
      1103665139                                7.218          2,058.75   Yes              3YP                             33.40   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120101                        20120201         57         2.750                   6.000                   1.000                     5.000            12.625            2.750                 672   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      1103665146                               6.4675           2681.25   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120201                        20120301         58         2.500                   5.000                   1.000                     5.000            11.875            2.500                 662   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      1103665338                               9.9675           1190.96   Yes              3YP                             48.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.500                   3.000                   1.000                     6.000            16.375            2.500                 623   SISA                                    Purchase                     Owner Occupied             SFR
      1103665406                               8.8775            945.63   Yes              1YP                             26.87   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            15.875            4.000                 721   Stated                                  Purchase                     Investor                   SFR
      2503214663                                6.343          2,508.75   No               NO                              53.28   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 629   Express Non-Verified Assets             Cash Out Refinance           Owner Occupied             D-PUDS
      2503214703                               9.1475            925.54   Yes              3YP                             41.01   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            16.225            3.625                 708   Stated                                  Purchase                     Investor                   SFR
      2503215275                                5.343          1,760.94   Yes              3YP                             39.65   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.750            3.000                 714   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503215904                               8.5825           2349.01   Yes              3YP                             27.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            14.990            3.000                 640   Stated                                  Purchase                     Second Home                PUD
      2503216874                                6.093          1,191.67   No               NO                              43.19   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.500            3.000                 795   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503217430                                5.093          1,567.50   Yes              3YP                             33.01   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            11.500            3.000                 795   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503217555                                5.843            885.42   Yes              1YP                             13.66   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120401                        20120501         60         3.000                   3.000                   1.000                     6.000            12.250            3.000                 730   Stated                                  Cash Out Refinance           Investor                   SFR
      2503218745                               5.7725             980.3   Yes              1YP                             49.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.180            3.000                 794   Stated                                  Purchase                     Second Home                Condominium
      2503218746                                6.153          1,012.43   Yes              3YP                             49.30   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.560            3.000                 668   Stated                                  Rate/Term Refinance          Owner Occupied             D-PUDS
      2503219035                                5.843            583.33   Yes              3YP                             50.41   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     5.740            11.990            3.000                 627   Full                                    Cash Out Refinance           Owner Occupied             SFR
      2503219105                                5.843          2,312.50   Yes              1YP                             45.59   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 638   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503219136                                6.583          1,537.80   Yes              2YP                             38.32   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 656   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503219467                                6.583          1,869.27   Yes              3YP                             37.65   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 642   SISA                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503219561                                5.968          1,482.19   Yes              3YP                             13.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 681   Full                                    Rate/Term Refinance          Investor                   Condominium
      2503219758                                6.343            677.81   Yes              2YP                             12.57   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 680   Stated                                  Rate/Term Refinance          Owner Occupied             Condominium
      2503219991                               9.5925              1895   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            16.000            3.000                 710   Express Verified Assets                 Purchase                     Second Home                Condominium
      2503219998                                7.093          2,484.38   Yes              3YP                             44.95   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         2.750                   3.000                   1.000                     6.000            13.500            2.750                 682   Stated                                  Cash Out Refinance           Investor                   SFR
      2503220195                               6.9675           3662.92   Yes              1YP                             42.99   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.375            3.000                 704   Stated                                  Purchase                     Owner Occupied             3-FAMILY
      2503220202                               9.3725             904.7   No               NO                              49.08   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.650                   3.000                   1.000                     6.000            16.600            3.650                 719   SISA                                    Purchase                     Investor                   Condominium
      2503220475                                5.718            832.43   Yes              3YP                             33.69   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.125            3.000                 763   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503220490                                5.843            978.99   Yes              1YP                              8.53   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 667   Full                                    Rate/Term Refinance          Investor                   D-PUDS
      2503220495                                5.968          2,260.47   No               NO                              23.94   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 754   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503220534                                5.843            843.75   Yes              3YP                             54.13   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 738   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503220545                                5.968            901.27   Yes              3YP                             54.13   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.375            3.000                 738   Stated                                  Rate/Term Refinance          Investor                   Condominium
      2503220773                                8.313          3,924.00   Yes              1YP                             49.92   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.720            3.000                 700   Stated                                  Cash Out Refinance           Owner Occupied             3-FAMILY
      2503220885                               9.6525           1776.75   No               NO                              36.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         4.125                   3.000                   1.000                     6.000            17.500            4.125                 649   SISA                                    Purchase                     Investor                   PUD
      2503220903                                6.443          1,957.96   No               NO                              44.79   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.850            3.875                 671   SISA                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221019                                7.843          1,598.44   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.250            3.000                 772   Express Verified Assets                 Rate/Term Refinance          Second Home                SFR
      2503221022                                5.703          2,140.37   No               NO                              40.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.750            3.875                 702   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221039                                5.843          2,114.58   Yes              1YP                             45.20   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.250            3.000                 660   SISA                                    Rate/Term Refinance          Investor                   2-FAMILY
      2503221100                                6.092          3,367.49   Yes              3YP                             43.48   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            12.890            3.500                 766   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503221230                                5.593          1,500.00   Yes              3YP                             36.95   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.000            3.000                 671   Stated                                  Rate/Term Refinance          Investor                   SFR
      2503221374                                6.583            932.00   Yes              3YP                             37.08   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 676   Stated                                  Cash Out Refinance           Investor                   SFR
      2503221398                                7.583          2,150.64   Yes              3YP                             36.60   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            13.990            3.625                 754   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503221439                                6.943          1,612.19   Yes              1YP                             17.42   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.350            3.000                 660   Stated                                  Cash Out Refinance           Investor                   Condominium
      2503221440                                7.093          1,755.00   Yes              3YP                             46.25   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.500            3.000                 621   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503221519                                6.743            722.69   Yes              1YP                             18.51   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.150            3.000                 660   Stated                                  Cash Out Refinance           Investor                   SFR
      2503221582                                5.513          2,001.42   Yes              3YP                             52.74   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            12.580            3.500                 713   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503221638                               7.4425            793.53   Yes              3YP                             36.07   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.850            3.875                 679   Stated                                  Purchase                     Owner Occupied             SFR
      2503221639                               9.3025           2982.64   Yes              2YP                             49.19   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            15.710            3.000                 637   Stated                                  Purchase                     Owner Occupied             HI-RISE
      2503221660                                6.143          4,107.40   Yes              2YP                             38.84   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.550            3.000                 756   Full                                    Rate/Term Refinance          Investor                   HI-RISE
      2503221734                                5.363          3,251.07   Yes              3YP                             34.19   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.590            3.875                 705   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503222011                                7.093          3,300.00   No               NO                              30.80   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.250                   3.000                   1.000                     6.000            13.500            2.250                 732   Stated                                  Cash Out Refinance           Investor                   4-FAMILY
      2503222019                                5.883          2,398.59   Yes              3YP                             38.66   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.290            3.875                 648   Full                                    Rate/Term Refinance          Owner Occupied             SFR
      2503222030                                6.583          2,054.37   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.990            3.000                 684   Express Non-Verified Assets             Cash Out Refinance           Second Home                SFR
      2503222113                                7.013          2,003.40   Yes              1YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.420            3.000                 629   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503222136                                5.968          2,291.02   Yes              3YP                             41.38   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140501                        20140601         85         3.875                   3.000                   1.000                     6.000            12.375            3.875                 724   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222167                               6.1925            2389.2   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            12.600            3.500                 707   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      2503222198                                6.218          2,484.38   No               NO                              42.05   7/6 LIBOR IO                              120    LIBOR                          6                6                             20140501                        20140601         85         3.875                   3.000                   1.000                     6.000            12.625            3.875                 786   Stated                                  Cash Out Refinance           Owner Occupied             2-FAMILY
      2503222214                                6.643          1,997.50   Yes              1YP                             48.83   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.050            3.000                 620   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222225                               8.4425              3245   Yes              2YP                             44.93   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.850            3.000                 701   Stated                                  Purchase                     Owner Occupied             SFR
      2503222244                               9.0475            2570.9   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            16.375            3.750                 690   Express Non-Verified Assets             Purchase                     Investor                   SFR
      2503222247                                6.093          2,517.46   Yes              3YP                             39.13   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.500            3.000                 670   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222346                                7.343          1,326.17   Yes              1YP                             47.92   5/6 LIBOR 40/30 BAL                              LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.750            3.000                 648   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503222413                               8.4625           1089.63   Yes              3YP                             40.00   7/6 LIBOR                                        LIBOR                          6                6                             20140501                        20140601         85         4.125                   3.000                   1.000                     6.000            15.990            4.125                 688   Stated                                  Purchase                     Owner Occupied             SFR
      2503222431                                6.043            720.25   Yes              1YP                             47.60   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.450            3.000                 698   Full                                    Rate/Term Refinance          Owner Occupied             Condominium
      2503222514                                6.343          1,777.50   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 650   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503222544                               6.7175              2850   Yes              3YP                             43.50   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.125            3.000                 751   Stated                                  Purchase                     Owner Occupied             2-FAMILY
      2503222561                                7.953          3,044.95   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            15.050            4.000                 683   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503222626                                8.873          3,334.70   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         3.625                   3.000                   1.000                     6.000            16.150            3.625                 724   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503222675                               6.2025           2728.13   Yes              3YP                             49.26   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.500            3.875                 668   Stated                                  Purchase                     Owner Occupied             SFR
      2503222708                                7.583          1,731.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.990            3.875                 665   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503222752                               7.6175            2806.7   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            14.025            3.000                 665   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      2503222764                                7.843          3,217.50   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            14.250            3.000                 701   Express Verified Assets                 Cash Out Refinance           Investor                   2-FAMILY
      2503222786                                6.093          3,358.33   Yes              3YP                             33.85   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.500            3.875                 777   Stated                                  Rate/Term Refinance          Owner Occupied             2-FAMILY
      2503222813                                6.293          2,596.25   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.700            3.000                 678   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503222819                               9.5125           1975.59   No               NO                              32.98   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.750                   3.000                   1.000                     6.000            16.840            3.750                 696   Stated                                  Purchase                     Investor                   SFR
      2503222841                               6.7575           1571.36   Yes              3YP                             31.88   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.125                   3.000                   1.000                     6.000            14.375            4.125                 690   Stated                                  Purchase                     Owner Occupied             Condominium
      2503222932                                5.718            571.67   Yes              1YP                             29.02   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.125            3.000                 741   Full                                    Rate/Term Refinance          Investor                   SFR
      2503222949                                5.843          1,187.50   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            12.250            3.875                 678   Express Verified Assets                 Rate/Term Refinance          Investor                   SFR
      2503222982                               9.6525            3807.2   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            16.750            4.000                 727   Express Non-Verified Assets             Purchase                     Investor                   D-PUDS
      2503222996                               9.6525           3738.59   Yes              3YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            16.750            4.000                 732   Express Non-Verified Assets             Purchase                     Investor                   SFR
      2503223013                                5.898          2,233.02   Yes              3YP                             34.13   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.305            3.000                 710   Stated                                  Cash Out Refinance           Investor                   SFR
      2503223027                               7.6325            1447.2   Yes              3YP                             40.89   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         2.250                   3.000                   1.000                     6.000            14.040            2.250                 813   Stated                                  Purchase                     Owner Occupied             D-PUDS
      2503223104                               9.4525            970.05   Yes              1YP                             44.79   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            16.800            3.875                 666   Stated                                  Purchase                     Investor                   SFR
      2503223117                               9.1925           2480.87   No               NO                              40.53   5/6 LIBOR                                        LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            15.600            3.625                 699   Full                                    Purchase                     Owner Occupied             3-FAMILY
      2503223127                                7.193          1,225.75   Yes              2YP                             43.98   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.875                   3.000                   1.000                     6.000            13.600            3.875                 757   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503223128                                6.793          2,160.00   No               NO                              42.52   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.200            3.000                 661   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503223197                                5.718          2,439.03   Yes              1YP                             44.65   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            12.125            3.500                 717   Full                                    Rate/Term Refinance          Owner Occupied             D-PUDS
      2503223270                                6.218          2,164.17   Yes              3YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.625            3.000                 705   Express Non-Verified Assets             Rate/Term Refinance          Owner Occupied             SFR
      2503223290                                6.693          4,437.50   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.100            3.000                 715   Express Verified Assets                 Cash Out Refinance           Investor                   SFR
      2503223402                                6.702          1,454.10   Yes              3YP                             39.47   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         4.000                   3.000                   1.000                     6.000            14.450            4.000                 643   Stated                                  Cash Out Refinance           Owner Occupied             D-PUDS
      2503223422                               7.2225           3024.76   Yes              1YP                              0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         4.250                   3.000                   1.000                     6.000            14.990            4.250                 666   Express Non-Verified Assets             Purchase                     Owner Occupied             SFR
      2503223427                                6.403          3,696.00   Yes              1YP                             49.92   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.875                   3.000                   1.000                     6.000            13.700            3.875                 668   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503223465                                6.343          2,137.50   No               NO                              26.11   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 723   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503223532                               7.9325           2774.44   Yes              2YP                             29.15   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            14.340            3.000                 785   SISA                                    Purchase                     Owner Occupied             SFR
      2503223553                                6.118          1,914.00   Yes              3YP                             49.98   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.525            3.000                 705   Full                                    Cash Out Refinance           Owner Occupied             D-PUDS
      2503223558                               7.7225           1549.48   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.500                   3.000                   1.000                     6.000            14.750            3.500                 718   Express Verified Assets                 Purchase                     Investor                   Condominium
      2503223569                                6.693          1,609.33   Yes              1YP                             38.76   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            13.100            3.000                 668   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503223587                                6.343          2,345.63   No               NO                              37.30   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.750            3.000                 639   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503223720                               7.0925              3235   Yes              3YP                             40.22   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            13.500            3.000                 633   Express Verified Assets                 Purchase                     Investor                   2-FAMILY
      2503223847                                7.153          2,597.66   No               NO                               0.00   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         3.875                   3.000                   1.000                     6.000            14.750            3.875                 736   Express Verified Assets                 Cash Out Refinance           Owner Occupied             SFR
      2503223850                               6.9725           1302.44   Yes              3YP                             18.80   7/6 LIBOR                                        LIBOR                          6                6                             20140601                        20140701         86         4.125                   3.000                   1.000                     6.000            14.570            4.125                 653   Stated                                  Purchase                     Investor                   SFR
      2503223876                                8.843          2,972.03   Yes              3YP                             46.59   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.625                   3.000                   1.000                     6.000            15.990            3.625                 687   Stated                                  Cash Out Refinance           Investor                   SFR
      2503223890                               6.2175           2583.75   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120501                        20120601         61         3.000                   3.000                   1.000                     6.000            12.625            3.000                 802   Express No Doc                          Purchase                     Owner Occupied             Condominium
      2503223894                               8.8225           1532.42   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.600                   3.000                   1.000                     6.000            15.850            3.600                 789   Express Non-Verified Assets             Purchase                     Investor                   SFR
      2503223973                               7.4675            861.38   Yes              3YP                             13.44   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.650                   3.000                   1.000                     6.000            13.875            3.650                 710   Stated                                  Purchase                     Investor                   Condominium
      2503224073                                9.153          2,190.94   No               NO                              26.03   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         3.500                   3.000                   1.000                     6.000            16.250            3.500                 721   Stated                                  Cash Out Refinance           Investor                   SFR
      2503224074                               8.8525           3708.73   Yes              3YP                             30.43   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         4.000                   3.000                   1.000                     6.000            16.500            4.000                 676   Stated                                  Purchase                     Investor                   HI-RISE
      2503224208                                5.933          3,187.50   Yes              3YP                             48.04   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         4.500                   3.000                   1.000                     6.000            13.500            4.500                 688   Stated                                  Rate/Term Refinance          Owner Occupied             SFR
      2503224250                                7.503          1,680.48   No               NO                              31.92   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         4.200                   3.000                   1.000                     6.000            15.100            4.200                 650   SISA                                    Cash Out Refinance           Owner Occupied             SFR
      2503224264                                6.933          2,691.67   Yes              3YP                             36.19   5/6 LIBOR IO                              120    LIBOR                          6                6                             20120601                        20120701         62         4.050                   3.000                   1.000                     6.000            14.500            4.050                 687   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503224346                                6.618          1,848.93   Yes              3YP                             32.71   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.875                   3.000                   1.000                     6.000            13.875            3.875                 626   Stated                                  Cash Out Refinance           Owner Occupied             SFR
      2503224451                               6.0825           2294.98   No               NO                               0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120601                        20120701         62         3.850                   3.000                   1.000                     6.000            13.570            3.850                 703   Express Verified Assets                 Purchase                     Owner Occupied             SFR
      2503224503                                7.508          1,055.33   Yes              3YP                              0.00   5/6 LIBOR IO                               60    LIBOR                          6                6                             20120601                        20120701         62         3.000                   3.000                   1.000                     6.000            13.915            3.000                 729   Express Non-Verified Assets             Rate/Term Refinance          Investor                   SFR
      2503224705                               8.5125           3137.88   Yes              1YP                              0.00   5/6 LIBOR                                        LIBOR                          6                6                             20120601                        20120701         62         3.650                   3.000                   1.000                     6.000            15.690            3.650                 711   Express Non-Verified Assets             Purchase                     Investor                   D-PUDS



H-1



EXHIBIT I
 
SPONSOR REPRESENTATIONS AND WARRANTIES
 
Sponsor’s Representations Assigned by Company to Trustee
 
Representations and Warranties. Pursuant to the Mortgage Loan Purchase Agreement, the Sponsor has made certain representations and warranties to the Company and the Certificate Insurer. The Sponsor shall confirm such representations and warranties and shall deliver a Sponsor’s Warranty Certificate and an Officer’s Certificate on the Closing Date and the Subsequent Transfer Date (i) reaffirming such representations and warranties and (ii) specifically restating and reaffirming the following representations and warranties as of such date. The following representations are, pursuant to the Pooling and Servicing Agreement, assigned by the Company to the Trustee for the benefit of the Certificate holders and the Certificate Insurer, together with the related repurchase rights specified in the Mortgage Loan Purchase Agreement. Pursuant to the Mortgage Loan Purchase Agreement, the Sponsor’s Warranty Certificate and related Officer’s Certificate, the Sponsor affirms each such representation and warranty and agrees, consents to and acknowledges the assignment thereof to the Trustee. All capitalized terms herein shall have the meanings assigned in the Pooling and Servicing Agreement and the Sponsor’s Warranty Certificate, as applicable.
 
The Sponsor hereby represents and warrants to the Company, Certificate Insurer and Trustee, as to each Mortgage Loan, that as of the Closing Date, Subsequent Transfer Date or as of such other date specifically provided herein:
 
(i) as of the Cut-off date or the Subsequent Cut-off Date, the information set forth in the Mortgage Loan Schedule hereto is true and correct in all material respects;
 
(ii) as of the Cut-off date or the Subsequent Cut-off Date, the Mortgage Loans, individually and in the aggregate, conform in all material respects to the descriptions thereof in the Prospectus Supplement;
 
(iii) the terms of the Mortgage Note and the Mortgage have not been impaired, waived, altered or modified in any respect, except by written instruments, (i) if required by law in the jurisdiction where the Mortgaged Property is located, or (ii) to protect the interests of the Trustee on behalf of the Certificateholders;
 
(iv) the Mortgage File for each Mortgage Loan contains a true and complete copy of each of the documents contained in such Mortgage File, including all amendments, modifications and, if applicable, waivers and assumptions that have been executed in connection with such Mortgage Loan;
 
(v) immediately prior to the transfer to the Purchaser, the Seller was the sole owner of beneficial title and holder of each Mortgage and Mortgage Note relating to the Mortgage Loans and is conveying the same free and clear of any and all liens, claims, encumbrances, participation interests, equities, pledges, charges or security interests of any nature and the Seller has full right and authority to sell or assign the same pursuant to this Agreement;
 
(vi) each Mortgage is a valid and enforceable first lien on the property securing the related Mortgage Note and each Mortgaged Property is owned by the Mortgagor in fee simple (except with respect to common areas in the case of condominiums, PUDs and de minimis PUDs) or by leasehold for a term longer than the term of the related Mortgage by at least five years, subject only to (i) the lien of current real property taxes and assessments, (ii) covenants, conditions and restrictions, rights of way, easements and other matters of public record as of the date of recording of such Mortgage, such exceptions being acceptable to mortgage lending institutions generally or specifically reflected in the appraisal obtained in connection with the origination of the related Mortgage Loan or referred to in the lender’s title insurance policy delivered to the originator of the related Mortgage Loan and (iii) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by such Mortgage;
 

I-1



 
(vii) as of the Cut-off date or the Subsequent Cut-off Date, no payment of principal of or interest on or in respect of any Mortgage Loan is 30 or more days Delinquent;
 
(viii) there is no mechanics’ lien or claim for work, labor or material affecting the premises subject to any Mortgage which is or may be a lien prior to, or equal with, the lien of such Mortgage except those which are insured against by the title insurance policy referred to in (xiii) below;
 
(ix) as of the Cut off Date or the Subsequent Cut-off Date, (i) no Mortgage Loan had been 30 days or more Delinquent more than once during the preceding 12 months, (ii) no Mortgage Loan had been Delinquent for 60 days or more during the preceding 12 months and (iii) to the Seller’s knowledge, there was no delinquent tax or assessment lien against the property subject to any Mortgage, except where such lien was being contested in good faith and a stay had been granted against levying on the property];
 
(x) there is no valid offset, defense or counterclaim to any Mortgage Note or Mortgage, including the obligation of the Mortgagor to pay the unpaid principal and interest on such Mortgage Note;
 
(xi) to the Seller’s knowledge, except to the extent insurance is in place which will over such damage, the physical property subject to any Mortgage is free of material damage and is in good repair and there is no proceeding pending or threatened for the total or partial condemnation of any Mortgaged Property;
 
(xii) each Mortgage Loan complies in all material respects with applicable local, state and federal laws, including, without limitation, usury, equal credit opportunity, real estate settlement procedures, the Federal Truth In Lending Act and disclosure laws, including, but not limited to, any applicable predatory lending laws. The consummation of the transactions contemplated hereby, including without limitation, the receipt of interest by the owner of such Mortgage Loan or the holders of Certificates secured thereby, will not involve the violation of any such laws. Each Mortgage Loan is being serviced in all material respects in accordance with applicable local, state and federal laws, including, without limitation, the Federal Truth In Lending Act and other consumer protection laws, real estate settlement procedures, usury, equal credit opportunity and disclosure laws;
 

I-2



 
(xiii) a lender’s title insurance policy (on an ALTA or CLTA form) or binder, or other assurance of title customary in the relevant jurisdiction therefor in a form acceptable to Fannie Mae or Freddie Mac, was issued on the date that each Mortgage Loan was created by a title insurance company which, to the best of Seller’s knowledge, was qualified to do business in the jurisdiction where the related Mortgaged Property is located, insuring the Seller and its successors and assigns that the Mortgage is a first priority lien on the related Mortgaged Property in the original principal amount of the Mortgage Loan. Seller is the sole insured under such lender’s title insurance policy, and such policy, binder or assurance is valid and remains in full force and effect, and each such policy, binder or assurance shall contain all applicable endorsements including a negative amortization endorsement, if applicable. With respect to no more than 10% of the Mortgage Loans, a copy of the original title insurance policy is included in the mortgage file;
 
(xiv) in the event the Mortgage constitutes a deed of trust, either a trustee, duly qualified under applicable law to serve as such, has been properly designated and currently so serves and is named in the Mortgage or if no duly qualified trustee has been properly designated and so serves, the Mortgage contains satisfactory provisions for the appointment of such trustee by the holder of the Mortgage at no cost or expense to such holder, and no fees or expenses are or will become payable by Purchaser to the trustee under the deed of trust, except in connection with a trustee’s sale after default by the mortgagor;
 
(xv) at the time of origination, each Mortgaged Property was the subject of an appraisal which conforms to the Seller’s underwriting requirements, and a complete copy of such appraisal is contained in the Mortgage File;
 
(xvi) neither the Seller nor any servicer of the related Mortgage Loans has advanced funds or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required by the Mortgage, except for (i) interest accruing from the date of the related Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is later, to the date which precedes by 30 days the first Due Date under the related Mortgage Note, and (ii) customary advances for insurance and taxes;
 
(xvii) each Mortgage Note, the related Mortgage and other agreements executed in connection therewith are genuine, and each is the legal, valid and binding obligation of the maker thereof, enforceable in accordance with its terms except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditor’s rights generally and by general equity principles (regardless of whether such enforcement is considered in a proceeding in equity or at law); and, to the best of Seller’s knowledge, all parties to each Mortgage Note and the Mortgage had legal capacity to execute the Mortgage Note and the Mortgage and each Mortgage Note and Mortgage has been duly and properly executed by the Mortgagor;
 
(xviii) to the extent required under applicable law, each conduit seller and subsequent mortgagee or servicer of the Mortgage Loans was authorized to transact and do business in the jurisdiction in which the related Mortgaged Property is located at all times when it held or serviced the Mortgage Loan; and any obligations of the holder of the related Mortgage Note, Mortgage and other loan documents have been complied with in all material respects; servicing of each Mortgage Loan has been in accordance with the servicing standard set forth in Section 3.01 of the Pooling and Servicing Agreement and the terms of the Mortgage Notes, the Mortgage and other loan documents, whether the creation of such Mortgage Loan and servicing was done by the Seller, its affiliates, or any third party which created the Mortgage Loan on behalf of, or sold the Mortgage Loan to, any of them, or any servicing agent of any of the foregoing;
 

I-3



 
(xix) the related Mortgage Note and Mortgage contain customary and enforceable provisions such as to render the rights and remedies of the holder adequate for the realization against the Mortgaged Property of the benefits of the security, including realization by judicial, or, if applicable, non judicial foreclosure, and, to the Seller’s knowledge, there is no homestead or other exemption available to the Mortgagor which would interfere with such right to foreclosure;
 
(xx) except with respect to holdbacks required by certain Mortgage Loans which holdbacks create a fund for (i) the repair of Mortgaged Property due to damage from adverse weather conditions, or (ii) the completion of new construction, or both, the proceeds of the Mortgage Loans have been fully disbursed, there is no requirement for future advances thereunder and any and all requirements as to completion of any on site or off site improvements and as to disbursements of any escrow funds therefor have been complied with; and all costs, fees and expenses incurred in making, closing or recording the Mortgage Loan have been paid, except recording fees with respect to Mortgages not recorded as of the Closing Date;
 
(xxi) as of the Closing Date or the Subsequent Transfer Date, the improvements on each Mortgaged Property securing a Mortgage Loan is insured (by an insurer which is acceptable to the Seller) against loss by fire and such hazards as are covered under a standard extended coverage endorsement in the locale in which the Mortgaged Property is located, in an amount which is not less than the lesser of the maximum insurable value of the improvements securing such Mortgage Loan or the outstanding principal balance of the Mortgage Loan, but in no event in an amount less than an amount that is required to prevent the Mortgagor from being deemed to be a co insurer thereunder; if the improvement on the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the condominium project; if upon origination of the related Mortgage Loan, the improvements on the Mortgaged Property were in an area identified as a federally designated flood area, a flood insurance policy is in effect in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the restorable cost of improvements located on such Mortgaged Property or (iii) the maximum coverage available under federal law; and each Mortgage obligates the Mortgagor thereunder to maintain the insurance referred to above at the Mortgagor’s cost and expense;
 
(xxii) there is no monetary default existing under any Mortgage or the related Mortgage Note and there is no material event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach or event of acceleration; and neither the Seller, any of its affiliates nor any servicer of any related Mortgage Loan has taken any action to waive any default, breach or event of acceleration; no foreclosure action is threatened or has been commenced with respect to the Mortgage Loan;
 

I-4



 
(xxiii) to the Seller’s knowledge, no Mortgagor, at the time of origination of the applicable Mortgage, was a debtor in any state or federal bankruptcy or insolvency proceeding;
 
(xxiv) [Reserved];
 
(xxv)  all inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including, but not limited to, certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities;
 
(xxvi) to the Seller’s knowledge, the Mortgaged Property and all improvements thereon comply with all requirements of any applicable zoning and subdivision laws and ordinances;
 
(xxvii) no instrument of release or waiver has been executed in connection with the Mortgage Loans, and no Mortgagor has been released, in whole or in part, except in connection with an assumption agreement which has been approved by the primary mortgage guaranty insurer, if any, and which has been delivered to the Trustee;
 
(xxviii) [Reserved];
 
(xxix) no Mortgage Loan was originated based on an appraisal of the related Mortgaged Property made prior to completion of construction of the improvements thereon unless a certificate of completion was obtained prior to closing of the Mortgage Loan;
 
(xxx) each of the Mortgaged Properties consists of a single parcel of real property with a detached single family residence erected thereon, or a two to four family dwelling, or an individual condominium unit in a condominium project or a townhouse, a condohotel, an individual unit in a PUD or an individual unit in a de minimis PUD;
 
(xxxi) no Mortgaged Property consists of a single parcel of real property with a cooperative housing development erected thereon. Any condominium unit, PUD or de minimis PUD conforms with Progressive Loan Series Program requirements regarding such dwellings or is covered by a waiver confirming that such condominium unit, PUD or de minimis PUD is acceptable to the Seller;
 
(xxxii) each Mortgage Loan constitutes a “qualified mortgage” under Section 860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G 2(a)(1);
 
(xxxiii) with respect to each Mortgage Loan directly originated by the Seller (and not through a third party broker or other third party) as of the Closing Date, to the best of Seller’s knowledge, there has been no fraud, misrepresentation or dishonesty with respect to the origination of any Mortgage Loan;
 
(xxxiv) no selection procedure reasonably believed by the Seller to be adverse to the interests of the Certificateholders or the Certificate Insurer was utilized in selecting the Mortgage Loans;
 

I-5



 
(xxxv) no Mortgage Loan is subject to the Home Ownership and Equity Protection Act of 1994 or any comparable state law;
 
(xxxvi) no proceeds from any Mortgage Loan were used to finance single premium credit insurance policies;
 
(xxxvii) no Mortgage Loan provides for payment of a Prepayment Charge on Principal Prepayments made more than five years from the date of the first contractual Due Date of the related Mortgage Loan;
 
(xxxviii) none of the Mortgage Loans is a “high cost home loan” as defined in the Georgia Fair Lending Act, as amended (the “Georgia Act”), the New York Predatory Lending Law, codified as N.Y. Banking Law §6 I, N.Y. Gen. Bus. Law §771 a, and N.Y. Real Prop. Acts Law §1302 (together, the “New York Act”), the Arkansas Home Loan Protection Act, as amended (the “Arkansas Act”), or Kentucky Revised Statutes §360.100, as amended (the “Kentucky Act”); and all the Mortgage Loans that are subject to the Georgia Act, the New York Act, the Arkansas Act and the Kentucky Act comply with the requirements of each such act. Each Mortgage Loan for which the related Mortgaged Property is located in the State of Georgia was originated prior to October 1, 2002, or on or after March 7, 2003;
 
(xxxix) no mortgage loan in the trust is a “high cost home,” “covered” (excluding home loans defined as “covered home loans” in the New Jersey Home Ownership Security Act of 2002 that were originated between November 26, 2003 and July 7, 2004), “high risk home” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees);
 
(xl) no subprime mortgage loan originated on or after October 1, 2002 underlying the Security will impose a prepayment premium for a term in excess of three years. Any loans originated prior to such date, and any non subprime loans, will not impose prepayment penalties in excess of five years;
 
(xli) the servicer for each mortgage loan underlying the Security has fully furnished and will fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (i.e., favorable and unfavorable) on its borrower credit files to Equifax, Experian, and Trans Union Credit Information Company (three of the credit repositories), on a monthly basis;
 
(xlii) with respect to any mortgage loan originated on or after August 1, 2004 and underlying the Security, neither the related mortgage nor the related mortgage note requires the borrower to submit to arbitration to resolve any dispute arising out of or relating in any way to the mortgage loan transaction;
 
(xliii) no mortgage loan is a High Cost Loan or Covered Loan, as applicable (as such terms are defined in the then current Standard & Poor’s LEVELS® Glossary which is now Version 5.7 Revised, Appendix E, attached as Exhibit 3 hereto) and no mortgage loan originated on or after October 1, 2002 through March 6, 2003 is secured by property located in the State of Georgia;
 

I-6



 
(xliv) information provided to the rating agencies, including the loan level detail, is true and correct according to the rating agency requirements;
 
(xlv) the prepayment penalties included in the transaction are enforceable and were originated in compliance with all applicable federal, state and local laws;
 
(xlvi) the schedule of Prepayment Charges is true and correct;
 
(xlvii) the information set forth in the prepayment penalty schedule (including the prepayment penalty summary attached thereto) is complete, true and correct in all material respects on the date or dates when such information is furnished and each prepayment penalty is permissible and enforceable in accordance with its terms (except to the extent that the enforceability thereof may be limited by bankruptcy, insolvency, moratorium, receivership and other similar laws affecting creditor's rights generally or the collectability thereof may be limited due to acceleration in connection with a foreclosure) under applicable federal, state and local law; and
 
(xlix) the Servicer will not waive any part of any prepayment penalty unless the waiver relates to a default or a reasonably foreseeable default, the prepayment penalty would cause an undue hardship to the related borrower, the Mortgaged Property is sold by the Mortgagor, the collection of any prepayment penalty would violate any relevant law or regulation or the waiving of the prepayment penalty would otherwise benefit the Trust Fund and it is expected that the waiver would maximize recovery of total proceeds taking into account the value of the prepayment penalty and related Mortgage Loan and doing so is standard and customary in servicing similar Mortgage Loans (including any waiver of a prepayment penalty in connection with a refinancing of a Mortgage Loan that is related to a default or a reasonably foreseeable default). The Servicer will not waive a prepayment penalty in connection with a refinancing of a Mortgage Loan that is not related to a default or a reasonably foreseeable default.
 


I-7



EXHIBIT J
 
FORM FOR INFORMATION UNDER SECTION 3.24
 
April 30, 2007                    
 
Deutsche Bank National Trust Company
1761 East St. Andrew Place
Santa Ana, California 92705-4934
 
 
Re:
Impac Secured Assets Corp.
Mortgage Pass-Through Certificates, Series 2007-3

Pursuant to Section 3.24 of the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among Impac Funding Corporation, as master servicer, Impac Secured Assets Corp., as depositor (the “Depositor”), and Deutsche Bank National Trust Company, as trustee, relating to the Certificates referenced above, the undersigned does hereby notify you that:
 
(a) The prepayment assumption used in pricing the Certificates with respect to the Mortgage Loans in Series 2007-3 consisted of a Prepayment Assumption (the “Prepayment Assumption”) of ____% per annum.
 
(b) With respect to each Class of Certificates comprising the captioned series, set forth below is (i) the first price, as a percentage of the Certificate Principal Balance or Notional Amount of each Class of Certificates, at which 10% of the aggregate Certificate Principal Balance or Notional Amount of each such Class of Certificates was first sold at a single price, if applicable, or (ii) if more than 10% of a Class of Certificates have been sold but no single price is paid for at least 10% of the aggregate Certificate Principal Balance or Notional Amount of such Class of Certificates, then the weighted average price at which the Certificates of such Class were sold expressed as a percentage of the Certificate Principal Balance or Notional Amount of such Class of Certificates, or (iii) if less than 10% of the aggregate Certificate Principal Balance or Notional Amount of a Class of Certificates has been sold, the purchase price for each such Class of Certificates paid by [_____________] (the “Underwriter”), expressed as a percentage of the Certificate Principal Balance or Notional Amount of such Class of Certificates calculated by: (1) estimating the fair market value of each such Class of Certificates as of April 30, 2007; (2) adding such estimated fair market value to the aggregate purchase prices of each Class of Certificates described in clause (i) or (ii) above; (3) dividing each of the fair market values determined in clause (1) by the sum obtained in clause (2); (4) multiplying the quotient obtained for each Class of Certificates in clause (3) by the purchase price paid by the Underwriters for all the Certificates purchased by it; and (5) for each Class of Certificates, dividing the product obtained from such Class of Certificates in clause (4) by the initial Certificate Principal Balance or Notional Amount of such Class of Certificates or (iv) the fair market value (but not less than zero) as of the Closing Date of each Certificate of each Class of Certificates retained by the Company or an affiliate corporation, or delivered to the seller:
 

J-1



 
Series 2007-3
 
 
Class A1-A:
____%
 
 
Class A1-B:
____%
 
 
Class A1-C
____%
 
 
Class A-M:
____%
 
 
Class M-1:
____%
 
 
Class M-2:
____%
 
 
Class M-3:
____%
 
 
Class M-4:
____%
 
 
Class M-5:
____%
 
 
Class M-6:
____%
 
 
Class M-7:
____%
 
 
Class M-8:
____%
 
 
Class B:
____%
 
 
Class C:
____%
 
 
Class P:
____%
 
 
Class R:
____%
 
Capitalized terms not defined herein have the meanings assigned to them in the Pooling and Servicing Agreement.
 


J-2



EXHIBIT K
 
IMPAC SERVICING GUIDE
 
(Provided Upon Request)
 


K-1



EXHIBIT L-1
 
FORM 10-K CERTIFICATION
 
 
RE:
Impac Secured Assets Corp.,
Mortgage Pass-Through Certificates, Series 2007-3
 
I, [identify the certifying individual], certify that:

1. I have reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report on Form 10-K of [identify the issuing entity] (the “Exchange Act periodic reports”);

2. Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports;

4. [I am responsible for reviewing the activities performed by the servicer(s) and based on my knowledge and the compliance review(s) conducted in preparing the servicer compliance statement(s) required in this report under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the servicer(s) [has/have] fulfilled [its/their] obligations under the servicing agreement(s); and] [Based on my knowledge and the servicer compliance statement(s) required in this report under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the servicer(s) [has/have] fulfilled [its/their] obligations under the servicing agreement(s); and]

5. All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K. 

[In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties [name of servicer, sub-servicer, co-servicer, depositor or trustee].]

Date:
_______________________
[Signature]
[Title]



L-1-1



EXHIBIT L-2
 
FORM 10-K BACK-UP CERTIFICATION (MASTER SERVICER)
 
 
 
Re:
Impac Secured Assets Corp.,
Mortgage Pass-Through Certificates, Series 2007-3
 
I, [Identify the certifying individual], a [______________] of Impac Funding Corporation, as Master Servicer, hereby certify to Impac Secured Assets Corp. and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
 
1. Based on my knowledge, the distribution information required to be provided by the Trustee under the Agreement is included in these distribution reports.
 
Capitalized terms used but not defined herein have the meanings ascribed to them in the Pooling and Servicing Agreement, dated April 1, 2007 (the “Agreement”), among Impac Secured Assets Corp., as Depositor, Impac Funding Corporation, as Master Servicer and Deutsche Bank National Trust Company, as Trustee.
 
IMPAC FUNDING CORPORATION, as
Master Servicer
 
By:__________________________
Name:
Title:
 
Date:
 


L-2-1



EXHIBIT L-3
 
FORM 10-K BACK-UP CERTIFICATION (TRUSTEE)
 
 
Re:
Impac Secured Assets Corp.,
Mortgage Pass-Through Certificates, Series 2007-3
 
I, [Identify the certifying individual], a [_________________] of Deutsche Bank National Trust Company, as Trustee, hereby certify to Impac Secured Assets Corp. and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:
 
1. I have reviewed the annual report on Form 10-K for the fiscal year [__], and all reports on Form 10-D containing distribution reports filed in respect of periods included in the year covered by that annual report, of the Issuer relating to the above-referenced trust;
 
2. Based on my knowledge, the information in these distribution reports prepared by the Trustee, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by that annual report; and
 
3. Based on my knowledge, the distribution information required to be provided by the Trustee under the Agreement is included in these distribution reports.
 
Capitalized terms used but not defined herein have the meanings ascribed to them in the Pooling and Servicing Agreement, dated April 1, 2007 (the “Agreement”), among Impac Secured Assets Corp., as Depositor, Impac Funding Corporation, as Master Servicer, and Deutsche Bank National Trust Company, as Trustee.
 
DEUTSCHE BANK NATIONAL TRUST COMPANY, as
Trustee
 
By:__________________________
Name:
Title:
 
Date:
 


L-3-1



EXHIBIT L-4
 
FORM OF BACK-UP CERTIFICATION TO FORM 10-K CERTIFICATE
 
Re: The [                     ] agreement dated as of [                    ], 200[  ] (the “Agreement”), among [IDENTIFY PARTIES]
 
 
I, ________________________________, the _______________________ of [NAME OF COMPANY], certify to [the Purchaser], [the Depositor], and the [Master Servicer] [Trustee], and their officers, with the knowledge and intent that they will rely upon this certification, that:
 
(1) I have reviewed the servicer compliance statement of the Company provided in accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the report on assessment of the Company’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”), the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the Attestation Report”), and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans by the Company during 200[ ] that were delivered by the Company to the [Depositor] [Master Servicer] [Trustee] pursuant to the Agreement (collectively, the “Company Servicing Information”);
 
(2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information;
 
(3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the [Depositor] [Master Servicer] [Trustee];
 
(4) I am responsible for reviewing the activities performed by the Company as servicer under the Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement in all material respects; and

L-4-1

 
(5) The Compliance Statement required to be delivered by the Company pursuant to the Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Company and by any Subservicer or Subcontractor pursuant to the Agreement, have been provided to the [Depositor] [Master Servicer]. Any material instances of noncompliance described in such reports have been disclosed to the [Depositor] [Master Servicer]. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports.
 

Date:
_________________________
By:
Name:
________________________________
Title:
________________________________



L-4-2



EXHIBIT M

FORM OF INTEREST RATE SWAP AGREEMENT AND CAP CONTRACTS


 


M-1



BEAR STEARNS FINANCIAL PRODUCTS INC.
383 MADISON AVENUE
NEW YORK, NEW YORK 10179
212-272-4009

DATE:
April 30, 2007
   
TO:
Deutsche Bank National Trust Company, not in its individual capacity, but solely as supplemental interest trust trustee (the “Supplemental Interest Trust Trustee”) on behalf of the supplemental interest trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (the “Supplemental Interest Trust”)
ATTENTION:
Marion Hogan
TELEPHONE:
714-247-6282
FACSIMILE:
714-247-6285
   
FROM:
Derivatives Documentation
TELEPHONE:
212-272-2711
FACSIMILE: 
212-272-9857
   
SUBJECT:
Fixed Income Derivatives Confirmation and Agreement
   
REFERENCE NUMBER:
FXNEC9418

The purpose of this long-form confirmation (Confirmation) is to confirm the terms and conditions of the current Transaction entered into on the Trade Date specified below (the “Transaction”) between Bear Stearns Financial Products Inc. (“Party A”) and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (“Party B”). Reference is hereby made to the Pooling and Servicing Agreement, dated as of April 1, 2007, among Impac Secured Assets Corp., as Depositor, Impac Funding Corporation, as master servicer, and Deutsche Bank National Trust Company, as trustee (the “Pooling and Servicing Agreement”). This Confirmation evidences a complete and binding agreement between you and us to enter into the Transaction on the terms set forth below and replaces any previous agreement between us with respect to the subject matter hereof. This Confirmation constitutes a “Confirmation” and also constitutes a “Schedule” as referred to in the ISDA Master Agreement, and Paragraph 13 of a Credit Support Annex to the Schedule.

1.
This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the ISDA Master Agreement (Multicurrency - Cross Border) as published and copyrighted in 1992 by the International Swaps and Derivatives Association, Inc. (the “ISDA Master Agreement”), as if Party A and Party B had executed an agreement in such form on the date hereof, with a Schedule as set forth in Item 3 of this Confirmation, and an ISDA Credit Support Annex (Bilateral Form - ISDA Agreements Subject to New York Law Only version) as published and copyrighted in 1994 by the International Swaps and Derivatives Association, Inc., with Paragraph 13 thereof as set forth in Annex A hereto (the “Credit Support Annex”). For the avoidance of doubt, the Transaction described herein shall be the sole Transaction governed by such ISDA Master Agreement. In the event of any inconsistency among any of the following documents, the relevant document first listed shall govern: (i) this Confirmation, exclusive of the provisions set forth in Item 3 hereof and Annex A hereto; (ii) the provisions set forth in Item 3 hereof, which are incorporated by reference into the Schedule; (iii) the Credit Support Annex; (iv) the Definitions; and (v) the ISDA Master Agreement.

Each reference herein to a “Section” (unless specifically referencing the Pooling and Servicing Agreement) or to a “Section” “of this Agreement” will be construed as a reference to a Section of the ISDA Master Agreement; each herein reference to a “Part” will be construed as a reference to the provisions herein deemed incorporated in a Schedule to the ISDA Master Agreement; each reference herein to a “Paragraph” will be construed as a reference to a Paragraph of the Credit Support Annex.



Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 2 of 24

2. The terms of the particular Transaction to which this Confirmation relates are as follows:

 
Type of Transaction:
Interest Rate Cap

 
Notional Amount:
With respect to any Calculation Period, the amount set forth for such period on Schedule I attached hereto.

 
Trade Date:
April 13, 2007

 
Effective Date:
April 25, 2012

 
Termination Date:
July 25, 2013, subject to adjustment in accordance with the Business Day Convention.

Fixed Amount (Premium):

 
Fixed Rate Payer:
Counterparty

Fixed Rate Payer
 
Payment Date:
April 30, 2007

 
Fixed Amount:
USD 129,000

 
Floating Amounts:
 

 
Floating Rate Payer:
Party A

 
Cap Rate:
7.50000%

Floating Rate Payer
 
Payment Dates:
The 25th calendar day of each month during the Term of this Transaction, commencing May 25, 2012, and ending on the Termination Date, subject to adjustment in accordance with the Business Day Convention.

Floating Rate for initial
 
Calculation Period:
To be determined.

 
Floating Rate Option:
USD-LIBOR-BBA, provided, however, that if the Floating Rate determined from such Floating Rate Option for any Calculation Period is greater than 11.50000% then the Floating Rate for such Calculation Period shall be deemed to be 11.50000%.

 
Designated Maturity:
One month

Floating Rate Day
 
Count Fraction:
Actual/360

 
Reset Dates:
The first day of each Calculation Period.

 
Compounding:
Inapplicable

 
Business Days:
New York


Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 3 of 24
 
Business Day
 
Convention:
Following

 
Calculation Agent:
Party A


3.
Provisions Deemed Incorporated in a Schedule to the ISDA Master Agreement:

Part 1.
Termination Provisions.

For the purposes of this Agreement:-

(a)
“Specified Entity” will not apply to Party A or Party B for any purpose.

(b)
“Specified Transaction” will have the meaning specified in Section 14.

(c)
Events of Default.

The statement below that an Event of Default will apply to a specific party means that upon the occurrence of such an Event of Default with respect to such party, the other party shall have the rights of a Non-defaulting Party under Section 6 of this Agreement; conversely, the statement below that such event will not apply to a specific party means that the other party shall not have such rights.

 
(i)
The “Failure to Pay or Deliver” provisions of Section 5(a)(i) will apply to Party A and will apply to Party B; provided, however, that notwithstanding anything to the contrary in Section 5(a)(i) or in Paragraph 7, any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall not constitute an Event of Default under Section 5(a)(i) unless (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.

 
(ii)
The “Breach of Agreement” provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

 
(iii)
The “Credit Support Default” provisions of Section 5(a)(iii) will apply to Party A and will not apply to Party B except that Section 5(a)(iii)(1) will apply to Party B solely in respect of Party B’s obligations under Paragraph 3(b); provided, however, that notwithstanding anything to the contrary in Section 5(a)(iii)(1), any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall not constitute an Event of Default under Section 5(a)(iii) unless (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.

 
(iv)
The “Misrepresentation” provisions of Section 5(a)(iv) will apply to Party A and will not apply to Party B.

 
(v)
The “Default under Specified Transaction” provisions of Section 5(a)(v) will apply to Party A and will not apply to Party B.

 
(vi)
The “Cross Default” provisions of Section 5(a)(vi) will apply to Party A and will not apply to Party B. For purposes of Section 5(a)(vi), solely with respect to Party A:

“Specified Indebtedness” will have the meaning specified in Section 14.

“Threshold Amount” means USD 100,000,000.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 4 of 24
 
 
(vii)
The “Bankruptcy” provisions of Section 5(a)(vii) will apply to Party A and will apply to Party B except that the provisions of Section 5(a)(vii)(2), (6) (to the extent that such provisions refer to any appointment contemplated or effected by the Pooling and Servicing Agreement or any appointment to which Party B has not become subject), (7) and (9) will not apply to Party B; provided that, with respect to Party B only, Section 5(a)(vii)(4) is hereby amended by adding after the words “against it” the words “(excluding any proceeding or petition instituted or presented by Party A or its Affiliates)”, and Section 5(a)(vii)(8) is hereby amended by deleting the words “to (7) inclusive” and inserting lieu thereof “, (3), (4) as amended, (5), (6) as amended, or (7)”.

 
(viii)
The “Merger Without Assumption” provisions of Section 5(a)(viii) will apply to Party A and will apply to Party B.

(d)
Termination Events.

The statement below that a Termination Event will apply to a specific party means that upon the occurrence of such a Termination Event, if such specific party is the Affected Party with respect to a Tax Event, the Burdened Party with respect to a Tax Event Upon Merger (except as noted below) or the non-Affected Party with respect to a Credit Event Upon Merger, as the case may be, such specific party shall have the right to designate an Early Termination Date in accordance with Section 6 of this Agreement; conversely, the statement below that such an event will not apply to a specific party means that such party shall not have such right; provided, however, with respect to “Illegality” the statement that such event will apply to a specific party means that upon the occurrence of such a Termination Event with respect to such party, either party shall have the right to designate an Early Termination Date in accordance with Section 6 of this Agreement.

 
(i)
The “Illegality” provisions of Section 5(b)(i) will apply to Party A and will apply to Party B.

 
(ii)
The “Tax Event” provisions of Section 5(b)(ii) will apply to Party A and will apply to Party B. 

 
(iii)
The “Tax Event Upon Merger” provisions of Section 5(b)(iii) will apply to Party A and will apply to Party B, provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event upon Merger in respect of which it is the Affected Party.

 
(iv)
The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will not apply to Party A and will not apply to Party B.

(e)
The “Automatic Early Termination” provision of Section 6(a) will not apply to Party A and will not apply to Party B.

(f)
 Payments on Early Termination. For the purpose of Section 6(e) of this Agreement:

 
(i)
The Second Method will apply.

 
(ii)
Market Quotation will apply, provided, however, that, if Party A is the Defaulting Party or the sole Affected Party, the following provisions will apply:

 
(A)
Section 6(e) is hereby amended by inserting on the first line thereof the words “or is effectively designated” after “If an Early Termination Date occurs”;

 
(B)
The definition of Market Quotation in Section 14 shall be deleted in its entirety and replaced with the following:

“Market Quotation” means, with respect to one or more Terminated Transactions, and a party making the determination, an amount determined on the basis of one or more Firm Offers from Reference Market-makers that are Eligible Replacements. Each Firm Offer will be (1) for an amount that would be paid to Party B (expressed as a negative number) or by Party B (expressed as a positive number) in consideration of an agreement between Party B and such Reference Market-maker to enter into a Replacement Transaction, and (2) made on the basis that Unpaid Amounts in respect of the Terminated Transaction or group of Transactions are to be excluded but, without limitation, any payment or delivery that would, but for the relevant Early Termination Date, have been required (assuming satisfaction of each applicable condition precedent) after that Early Termination Date are to be included. The party making the determination (or its agent) will request each Reference Market-maker that is an Eligible Replacement to provide its Firm Offer to the extent reasonably practicable as of the same day and time (without regard to different time zones) on or as soon as reasonably practicable after the designation or occurrence of the relevant Early Termination Date. The day and time as of which those Firm Offers are to be provided (the “bid time”) will be selected in good faith by the party obliged to make a determination under Section 6(e), and, if each party is so obliged, after consultation with the other. If at least one Firm Offer from an Approved Replacement (which, if accepted, would determine the Market Quotation) is provided at the bid time, the Market Quotation will be the Firm Offer (among such Firm Offers as specified in clause (C) below) actually accepted by Party B no later than the Business Day immediately preceding the Early Termination Date. If no Firm Offer from an Approved Replacement (which, if accepted, would determine the Market Quotation) is provided at the bid time, it will be deemed that the Market Quotation in respect of such Terminated Transaction or group of Transactions cannot be determined.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 5 of 24
 
 
(C)
If more than one Firm Offer from an Approved Replacement (which, if accepted, would determine the Market Quotation) is provided at the bid time, Party B shall accept the Firm Offer (among such Firm Offers) which would require either (x) the lowest payment by Party B to the Reference Market-maker, to the extent Party B would be required to make a payment to the Reference Market-maker or (y) the highest payment from the Reference Market-maker to Party B, to the extent the Reference Market-maker would be required to make a payment to Party B. If only one Firm Offer from an Approved Replacement (which, if accepted, would determine the Market Quotation) is provided at the bid time, Party B shall accept such Firm Offer.

 
(D)
If Party B requests Party A in writing to obtain Market Quotations, Party A shall use its reasonable efforts to do so.

 
(E)
If the Settlement Amount is a negative number, Section 6(e)(i)(3) shall be deleted in its entirety and replaced with the following:

“(3) Second Method and Market Quotation. If the Second Method and Market Quotation apply, (I) Party B shall pay to Party A an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (II) Party B shall pay to Party A the Termination Currency Equivalent of the Unpaid Amounts owing to Party A and (III) Party A shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing to Party B; provided, however, that (x) the amounts payable under the immediately preceding clauses (II) and (III) shall be subject to netting in accordance with Section 2(c) of this Agreement and (y) notwithstanding any other provision of this Agreement, any amount payable by Party A under the immediately preceding clause (III) shall not be netted-off against any amount payable by Party B under the immediately preceding clause (I).”
 
(g)
“Termination Currency” means USD.

(h)
Additional Termination Events. Additional Termination Events will apply as provided in Part 5(c).

Part 2.  Tax Matters.

(a)
Tax Representations. 
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 6 of 24
 
 
(i)
Payer Representations. For the purpose of Section 3(e) of this Agreement:
 
 
(A)
Party A makes the following representation(s):

It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Section 2(e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to the other party under this Agreement.

In making this representation, it may rely on:

 
(1)
the accuracy of any representations made by the other party pursuant to Section 3(f) of this Agreement;

 
(2)
the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by the other party pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement; and

 
(3)
the satisfaction of the agreement of the other party contained in Section 4(d) of this Agreement, provided that it shall not be a breach of this representation where reliance is placed on clause (ii) and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice to its legal or commercial position.
     
 
(B)
Party B makes the following representation(s):

None.

 
(ii)
Payee Representations. For the purpose of Section 3(f) of this Agreement:
 
 
(A)
Party A makes the following representation(s):

Party A is a corporation organized under the laws of the State of Delaware and its U.S. taxpayer identification number is 13-3866307.
     
 
(B)
Party B makes the following representation(s):

None.

(b)
Tax Provisions.

 
(i)
Gross Up. Section 2(d)(i)(4) shall not apply to Party B as X, such that Party B shall not be required to pay any additional amounts referred to therein.

 
(ii)
Indemnifiable Tax. Notwithstanding the definition of “Indemnifiable Tax” in Section 14 of this Agreement, all Taxes in relation to payments by Party A shall be Indemnifiable Taxes (including any Tax imposed in relation to a Credit Support Document or in relation to any payment thereunder) unless (i) such Taxes are assessed directly against Party B and not by deduction or withholding by Party A or (ii) arise as a result of a Change in Tax Law (in which case such Tax shall be an Indemnifiable Tax only if such Tax satisfies the definition of Indemnifiable Tax provided in Section 14). In relation to payments by Party B, no Tax shall be an Indemnifiable Tax.

Part 3.  Agreement to Deliver Documents.  
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 7 of 24
 
(a)
For the purpose of Section 4(a)(i), tax forms, documents, or certificates to be delivered are:
 
Party required to
deliver document
 
Form/Document/
Certificate
 
Date by which to
be delivered
         
Party A
 
An original completed and executed United States Internal Revenue Service Form W-9 (or any successor thereto) with respect to any payments received or to be received by Party A that eliminates U.S. federal withholding and backup withholding Tax on payments to Party A under this Agreement.
 
(i) upon execution of this Agreement, (ii) on or before the first payment date under this Agreement, including any Credit Support Document, (iii) promptly upon the reasonable demand by Party B, (iv) prior to the expiration or obsolescence of any previously delivered form, and (v) promptly upon the information on any such previously delivered form becoming inaccurate or incorrect.
         
Party B
 
(i) Upon execution of this Agreement, an original completed and executed United States Internal Revenue Service Form W-9 (or any successor thereto) with respect to any payments received or to be received by the initial beneficial owner of payments to Party B under this Agreement, and (ii) thereafter, the appropriate tax certification form (i.e., IRS Form W-9 or IRS Form W-8BEN, W-8IMY, W-8EXP or W-8ECI, as applicable (or any successor form thereto)) with respect to any payments received or to be received by the beneficial owner of payments to Party B under this Agreement from time to time.
 
(i) upon execution of this Agreement, (ii) on or before the first payment date under this Agreement, including any Credit Support Document, (iii) in the case of a tax certification form other than a Form W-9, before December 31 of each third succeeding calendar year, (iv) promptly upon the reasonable demand by Party B, (v) prior to the expiration or obsolescence of any previously delivered form, and (vi) promptly upon the information on any such previously delivered form becoming inaccurate or incorrect.

(b) For the purpose of Section 4(a)(ii), other documents to be delivered are:
 
Party required
to deliver
document
 
Form/Document/
Certificate
 
Date by which to
be delivered
 
Covered by
Section 3(d)
Representation
             
Party A and
Party B
 
Any documents required by the receiving party to evidence the authority of the delivering party or its Credit Support Provider, if any, for it to execute and deliver the Agreement, this Confirmation, and any Credit Support Documents to which it is a party, and to evidence the authority of the delivering party or its Credit Support Provider to perform its obligations under the Agreement, this Confirmation and any Credit Support Document, as the case may be
 
Upon the execution and delivery of this Agreement
 
Yes
             
Party A and
Party B
 
A certificate of an authorized officer of the party, as to the incumbency and authority of the respective officers of the party signing the Agreement, this Confirmation, and any relevant Credit Support Document, as the case may be
 
Upon the execution and delivery of this Agreement
 
Yes
 

 
Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 8 of 24
 
Party required
to deliver
document
 
Form/Document/
Certificate
 
Date by which to
be delivered
 
Covered by
Section 3(d)
Representation
             
Party A
 
Annual Report of Party A containing consolidated financial statements certified by independent certified public accountants and prepared in accordance with generally accepted accounting principles in the country in which Party A is organized
 
Upon request by Party B
 
Yes
             
Party A
 
Quarterly Financial Statements of Party A containing unaudited, consolidated financial statements of Party A’s fiscal quarter prepared in accordance with generally accepted accounting principles in the country in which Party A is organized
 
Upon request by Party B
 
Yes
             
Party A and
Party B
 
An opinion of counsel of such party regarding the enforceability of this Agreement in a form reasonably satisfactory to the other party.
 
Upon the execution and delivery of this Agreement
 
No
             
Party B
 
An executed copy of the Pooling and Servicing Agreement
 
Promptly upon filing of such agreement with the U.S. Securities and Exchange Commission
 
No

Part 4. Miscellaneous.

(a)
Address for Notices: For the purposes of Section 12(a) of this Agreement:

Address for notices or communications to Party A:
 
Address:
383 Madison Avenue, New York, New York 10179
 
Attention:
DPC Manager
 
Facsimile:
(212) 272-5823

with a copy to:

 
Address:
One Metrotech Center North, Brooklyn, New York 11201
 
Attention:
Derivative Operations 7th Floor
 
Facsimile:
(212) 272-1634

 
Address:
Ambac Assurance Corporation
   
One State Street Plaza
   
New York, New York 10004
 
Attention:
Risk Management, Asset-Backed Securities
 
Facsmile:
(212) 480-3682
 
(For all purposes)

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 9 of 24

Address for notices or communications to Party B:

 
Address:
IMPAC Secured Assets Corp. 2007-3
   
c/o Deutsche Bank National Trust Company
   
1761 East St. Andrew Place
   
Santa Ana, CA 92705
 
Attention:
Marion Hogan
 
Facsimile:
(714) 247-6285
 
Phone:
(714) 247-6282

with a copy to:

 
Address:
Ambac Assurance Corporation
   
One State Street Plaza
   
New York, New York 10004
 
Attention:
Risk Management, Asset-Backed Securities
 
Facsmile:
(212) 480-3682

(For all purposes)

(b)
Process Agent. For the purpose of Section 13(c):

Party A appoints as its Process Agent: Not applicable.

Party B appoints as its Process Agent: Not applicable.

(c)
Offices. The provisions of Section 10(a) will apply to this Agreement; neither Party A nor Party B has any Offices other than as set forth in the Notices Section.

(d)
Multibranch Party. For the purpose of Section 10(c) of this Agreement:

Party A is not a Multibranch Party.

 
Party B is not a Multibranch Party.

(e)
Calculation Agent. The Calculation Agent is Party A.

(f)
Credit Support Document. 
 
 
Party A:
The Credit Support Annex, and any guarantee in support of Party A’s obligations under this Agreement.

 
Party B:
The Credit Support Annex.

(g)
Credit Support Provider.

 
Party A:
The guarantor under any guarantee in support of Party A’s obligations under this Agreement.

 
Party B:
None.

(h)
Governing Law. The parties to this Agreement hereby agree that the law of the State of New York shall govern their rights and duties in whole, without regard to the conflict of law provisions thereof other than New York General Obligations Law Sections 5-1401 and 5-1402.
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 10 of 24
 
(i)
Netting of Payments. The parties agree that subparagraph (ii) of Section 2(c) will apply to each Transaction hereunder.

(j)
Affiliate. Party A and Party B shall be deemed to have no Affiliates for purposes of this Agreement, including for purposes of Section 6(b)(ii).
Part 5.  Others Provisions.

(a)
Definitions. Unless otherwise specified in a Confirmation, this Agreement and each Transaction under this Agreement are subject to the 2000 ISDA Definitions as published and copyrighted in 2000 by the International Swaps and Derivatives Association, Inc. (the “Definitions”), and will be governed in all relevant respects by the provisions set forth in the Definitions, without regard to any amendment to the Definitions subsequent to the date hereof. The provisions of the Definitions are hereby incorporated by reference in and shall be deemed a part of this Agreement, except that (i) references in the Definitions to a “Swap Transaction” shall be deemed references to a “Transaction” for purposes of this Agreement, and (ii) references to a “Transaction” in this Agreement shall be deemed references to a “Swap Transaction” for purposes of the Definitions. Each term capitalized but not defined in this Agreement shall have the meaning assigned thereto in the Pooling and Servicing Agreement.
 
(b)
Amendments to ISDA Master Agreement.

 
(i)
Single Agreement. Section 1(c) is hereby amended by the adding the words “including, for the avoidance of doubt, the Credit Support Annex” after the words “Master Agreement”.

 
(ii)
[Reserved.]

 
(iii)
[Reserved.]

 
(iv)
Representations. Section 3 is hereby amended by adding at the end thereof the following subsection (g):

 
“(g)
Relationship Between Parties.

 
(1)
Nonreliance. (i) It is not relying on any statement or representation of the other party regarding the Transaction (whether written or oral), other than the representations expressly made in this Agreement or the Confirmation in respect of that Transaction, (ii) it has consulted with its own legal, regulatory, tax, business, investment, financial and accounting advisors to the extent it has deemed necessary, and it has made its own investment, hedging and trading decisions based upon its own judgment and upon any advice from such advisors as it has deemed necessary and not upon any view expressed by the other party, (iii) it is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into this Transaction; it being understood that information and explanations related to the terms and conditions of this Transaction shall not be considered investment advice or a recommendation to enter into this Transaction, and (iv) it has not received from the other party any assurance or guaranty as to the expected results of this Transaction.
 
 
(2)
Evaluation and Understanding. (i) It has the capacity to evaluate (internally or through independent professional advice) the Transaction and has made its own decision to enter into the Transaction and (ii) it understands the terms, conditions and risks of the Transaction and is willing and able to accept those terms and conditions and to assume those risks, financially and otherwise.
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 11 of 24
 
 
(3)
Purpose. It is entering into the Transaction for the purposes of managing its borrowings or investments, hedging its underlying assets or liabilities or in connection with a line of business.

 
(4)
Status of Parties. The other party is not acting as an agent, fiduciary or advisor for it in respect of the Transaction.

 
(5)
Eligible Contract Participant. It is an “eligible swap participant” as such term is defined in, Section 35.1(b)(2) of the regulations (17 C.F.R. 35) promulgated under, and an “eligible contract participant” as defined in Section 1(a)(12) of the Commodity Exchange Act, as amended.”

 
(v)
Transfer to Avoid Termination Event. Section 6(b)(ii) is hereby amended by (i) deleting the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party,” and (ii) deleting the last paragraph thereof and inserting the following in lieu thereof:

“Notwithstanding anything to the contrary in Section 7 (as amended herein) and Part 5(f), any transfer by Party A under this Section 6(b)(ii) shall not require the consent of Party B for such transfer if the following conditions are satisfied:

 
(1)
the transferee (the “Section 6 Transferee”) is an Eligible Replacement;

 
(2)
if the Section 6 Transferee is domiciled in a different country or political subdivision thereof from both Party A and Party B, such transfer satisfies the Rating Agency Condition;

 
(3)
the Section 6 Transferee will not, as a result of such transfer, be required on the next succeeding Scheduled Payment Date to withhold or deduct on account of any Tax (except in respect of default interest) amounts in excess of that which Party A would, on the next succeeding Scheduled Payment Date have been required to so withhold or deduct unless the Section 6 Transferee would be required to make additional payments pursuant to Section 2(d)(i)(4) corresponding to such excess;

 
(4)
a Termination Event or Event of Default does not occur as a result of such transfer; and

 
(5)
the Section 6 Transferee confirms in writing that it will accept all of the interests and obligations in and under this Agreement which are to be transferred to it in accordance with the terms of this provision.”

 
(vi)
Jurisdiction. Section 13(b) is hereby amended by: (i) deleting in the second line of subparagraph (i) thereof the word "non-", (ii) deleting “; and” from the end of subparagraph 1 and inserting “.” in lieu thereof, and (iii) deleting the final paragraph thereof.

 
(vii)
Local Business Day. The definition of Local Business Day in Section 14 is hereby amended by the addition of the words “or any Credit Support Document” after “Section 2(a)(i)” and the addition of the words “or Credit Support Document” after “Confirmation”.

(c)
Additional Termination Events. The following Additional Termination Events will apply:

 
(i)
S&P First Level Downgrade. If an S&P Approved Ratings Downgrade Event has occurred and is continuing and Party A fails to take any action described under Part (5)(d)(i)(1), within the time period specified therein, then an Additional Termination Event shall have occurred with respect to Party A, Party A shall be the sole Affected Party with respect to such Additional Termination Event and all Transactions hereunder shall be Affected Transaction.

 
(ii)
Moody’s First Rating Trigger Collateral. If (A) it is not the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for 30 or more Local Business Days and (B) Party A has failed to comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex, then an Additional Termination Event shall have occurred with respect to Party A, Party A shall be the sole Affected Party with respect to such Additional Termination Event and all Transactions hereunder shall be Affected Transactions.
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 12 of 24
 
 
(iii)
S&P Second Level Downgrade. If an S&P Required Ratings Downgrade Event has occurred and is continuing and Party A fails to take any action described under Part (5)(d)(i)(2) within the time period specified therein, then an Additional Termination Event shall have occurred with respect to Party A, Party A shall be the sole Affected Party with respect to such Additional Termination Event and all Transactions hereunder shall be Affected Transaction.

 
(iv)
Moody’s Second Rating Trigger Replacement. If (A) a Moody’s Second Trigger Ratings Event has occurred and been continuing for 30 or more Local Business Days and (B) (i) at least one Eligible Replacement has made a Firm Offer to be the transferee of all of Party A’s rights and obligations under this Agreement (and such Firm Offer remains an offer that will become legally binding upon such Eligible Replacement upon acceptance by the offeree) and/or (ii) an Eligible Guarantor has made a Firm Offer to provide an Eligible Guarantee (and such Firm Offer remains an offer that will become legally binding upon such Eligible Guarantor immediately upon acceptance by the offeree), then an Additional Termination Event shall have occurred with respect to Party A, Party A shall be the sole Affected Party with respect to such Additional Termination Event and all Transactions hereunder shall be Affected Transactions.
 
 
(v)
Amendment of the Pooling and Servicing Agreement. If, without the prior written consent of Party A, where such consent is required under the Pooling and Servicing Agreement (such consent not to be unreasonably withheld, conditioned or delayed), an amendment or modification is made to the Pooling and Servicing Agreement which amendment or modification could reasonably be expected to have a material adverse effect on the rights and interests of Party A under the Credit Support Annex, an Additional Termination Event shall have occurred with respect to Party B, Party B shall be the sole Affected Party and all Transactions hereunder shall be Affected Transactions..


(d)
Rating Agency Downgrade.  

 
(i)
S&P Downgrade:

 
(1)
In the event that an S&P Approved Ratings Downgrade Event occurs and is continuing, then within 30 days after such rating downgrade, Party A shall, subject to the Rating Agency Condition with respect to S&P, at its own expense, either (i) procure a Permitted Transfer, (ii) obtain an Eligible Guarantee or (iii) post collateral in accordance with the Credit Support Annex.

 
(2)
In the event that an S&P Required Ratings Downgrade Event occurs and is continuing, then within 10 Local Business Days after such rating withdrawal or downgrade, Party A shall, subject to the Rating Agency Condition with respect to S&P, at its own expense, procure either (i) a Permitted Transfer or (ii) an Eligible Guarantee.

 
(ii)
Moody’s Downgrade.

 
(1)
In the event that a Moody’s Second Trigger Ratings Event occurs and is continuing, Party A shall, as soon as reasonably practicable thereafter, at its own expense and using commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guarantee.

(e)
Item 1115 Agreement. Party A and Party B hereby agree that the terms of the Item 1115 Agreement, dated as of February 22, 2007 (the “Item 1115 Agreement”) among Impac Funding Corporation (the “Sponsor”), Impac Secured Assets Corp., (the “Depositor”), and Party A (the “Derivative Provider”) shall be incorporated by reference into this Agreement and Party B shall be an express third party beneficiary of the Item 1115 Agreement. A copy of the Item 1115 Agreement is annexed hereto at Annex B. 
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 13 of 24
 
(f)
Transfers. 
 
(i)    Section 7 is hereby amended to read in its entirety as follows:
 
“Except with respect to a Permitted Transfer pursuant to Section 6(b)(ii), Part 5(d), Part 5(b)(v) or the succeeding sentence, neither Party A nor Party B is permitted to assign, novate or transfer (whether by way of security or otherwise) as a whole or in part any of its rights, obligations or interests under the Agreement or any Transaction unless (a) the prior written consent of the other party is obtained and (b) the Rating Agency Condition has been satisfied with respect to S&P. At any time at which no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold, Party A may make a Permitted Transfer.”
 
 
(ii)
If an Eligible Replacement has made a Firm Offer (which remains an offer that will become legally binding upon acceptance by Party B) to be the transferee pursuant to a Permitted Transfer, Party B shall, at Party A’s written request and at Party A’s expense, execute such documentation provided to it as is reasonably deemed necessary by Party A to effect such transfer.
 
(g)
Non-Recourse. Party A acknowledges and agree that, notwithstanding any provision in this Agreement to the contrary, the obligations of Party B hereunder are limited recourse obligations of Party B, payable solely from theSupplemental Interest Trust and the proceeds thereof, in accordance with the priority of payments and other terms of the Pooling and Servicing Agreement and that Party A will not have any recourse to any of the directors, officers, agents, employees, shareholders or affiliates of Party B with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. In the event that the Supplemental Interest Trust and the proceeds thereof, should be insufficient to satisfy all claims outstanding and following the realization of the Supplemental Interest Trust and the proceeds thereof, any claims against or obligations of Party B under this Agreement or any other confirmation thereunder still outstanding shall be extinguished and thereafter not revive. The Supplemental Interest Trust Trustee shall not have liability for any failure or delay in making a payment hereunder to Party A due to any failure or delay in receiving amounts in the Supplemental Interest Trust from the Trust created pursuant to the Pooling and Servicing Agreement. This provision will survive the termination of this Agreement.

(h)
Timing of Payments by Party B upon Early Termination. Notwithstanding anything to the contrary in Section 6(d)(ii), to the extent that all or a portion (in either case, the “Unfunded Amount”) of any amount that is calculated as being due in respect of any Early Termination Date under Section 6(e) from Party B to Party A will be paid by Party B from amounts other than any upfront payment paid to Party B by an Eligible Replacement that has entered a Replacement Transaction with Party B, then such Unfunded Amount shall be due on the next subsequent Distribution Date following the date on which the payment would have been payable as determined in accordance with Section 6(d)(ii), and on any subsequent Distribution Dates until paid in full (or if such Early Termination Date is the final Distribution Date, on such final Distribution Date); provided, however, that if the date on which the payment would have been payable as determined in accordance with Section 6(d)(ii) is a Distribution Date, such payment will be payable on such Distribution Date.

(i)
Rating Agency Notifications. Notwithstanding any other provision of this Agreement, no Early Termination Date shall be effectively designated hereunder by Party B and no transfer of any rights or obligations under this Agreement shall be made by either party unless each Swap Rating Agency has been given prior written notice of such designation or transfer.

(j)
No Set-off. Except as expressly provided for in Section 2(c), Section 6 or Part 1(f)(i)(D) hereof, and notwithstanding any other provision of this Agreement or any other existing or future agreement, each party irrevocably waives any and all rights it may have to set off, net, recoup or otherwise withhold or suspend or condition payment or performance of any obligation between it and the other party hereunder against any obligation between it and the other party under any other agreements. Section 6(e) shall be amended by deleting the following sentence: “The amount, if any, payable in respect of an Early Termination Date and determined pursuant to this Section will be subject to any Set-off.”.
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 14 of 24
 
(k)
Amendment. Notwithstanding any provision to the contrary in this Agreement, no amendment of either this Agreement or any Transaction under this Agreement shall be permitted by either party unless each of the Swap Rating Agencies has been provided prior written notice of the same and such amendment satisfies the Rating Agency Condition with respect to S&P.

(l)
Notice of Certain Events or Circumstances. Each Party agrees, upon learning of the occurrence or existence of any event or condition that constitutes (or that with the giving of notice or passage of time or both would constitute) an Event of Default or Termination Event with respect to such party, promptly to give the other Party and to each Swap Rating Agency notice of such event or condition; provided that failure to provide notice of such event or condition pursuant to this Part 5(l) shall not constitute an Event of Default or a Termination Event.
 
(m)   Proceedings. No Relevant Entity shall institute against, or cause any other person to institute against, or join any other person in instituting against Party B, the Supplemental Interest Trust, or the trust formed pursuant to the Pooling and Servicing Agreement, in any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any federal or state bankruptcy or similar law for a period of one year (or, if longer, the applicable preference period) and one day following payment in full of the Certificates and any Notes. This provision will survive the termination of this Agreement. 

(n)
Supplemental Interest Trust Trustee Liability Limitations.  It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by Deutsche Bank National Trust Company (“Deutsche”) not in its individual capacity, but solely as Supplemental Interest Trust Trustee under the Pooling and Servicing Agreement in the exercise of the powers and authority conferred and invested in it thereunder; (b) Deutsche has been directed pursuant to the Pooling and Servicing Agreement to enter into this Agreement and to perform its obligations hereunder; (c) each of the representations, warranties, covenants, undertakings and agreements herein made on behalf of the Supplemental Interest Trust is made and intended not as personal representations, undertakings and agreements by Deutsche but is made and intended for the purpose of binding only the Supplemental Interest Trust; and (d) nothing herein contained shall be construed as creating any liability on Deutsche Bank National Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties who are signatories to this Agreement and by any person claiming by, through or under such parties and (e) under no circumstances shall Deutsche Bank National Trust Company be personally liable for the payment of any indemnity, indebtedness, fees or expenses of the Supplemental Interest Trust or be liable for the breach or failure of any obligations, representation, warranty or covenant made or undertaken by the Supplemental Interest Trust under this Agreement.
 

(o)
Severability. If any term, provision, covenant, or condition of this Agreement, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable (in whole or in part) in any respect, the remaining terms, provisions, covenants, and conditions hereof shall continue in full force and effect as if this Agreement had been executed with the invalid or unenforceable portion eliminated, so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective benefits or expectations of the parties; provided, however, that this severability provision shall not be applicable if any provision of Section 2, 5, 6, or 13 (or any definition or provision in Section 14 to the extent it relates to, or is used in or in connection with any such Section) shall be so held to be invalid or unenforceable.

The parties shall endeavor to engage in good faith negotiations to replace any invalid or unenforceable term, provision, covenant or condition with a valid or enforceable term, provision, covenant or condition, the economic effect of which comes as close as possible to that of the invalid or unenforceable term, provision, covenant or condition.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 15 of 24
(p)
Agent for Party B. Party A acknowledges that Party B has appointed the Supplemental Interest Trust Trustee and the Trustee as its agents under the Pooling and Servicing Agreement to carry out certain functions on behalf of Party B, and that the Supplemental Interest Trust Trustee and the Trust shall be entitled to give notices and to perform and satisfy the obligations of Party B hereunder on behalf of Party B.
 
(q)
Limitation on Events of Default. Notwithstanding the provisions of Sections 5 and 6, if at any time and so long as Party B has satisfied in full all its payment obligations under Section 2(a)(i) and has at the time no future payment obligations, whether absolute or contingent, under such Section, then unless Party A is required pursuant to appropriate proceedings to return to Party B or otherwise returns to Party B upon demand of Party B any portion of any such payment, (a) the occurrence of an event described in Section 5(a) with respect to Party B shall not constitute an Event of Default or Potential Event of Default with respect to Party B as Defaulting Party and (b) Party A shall be entitled to designate an Early Termination Date pursuant to Section 6 only as a result of the occurrence of a Termination Event set forth in either Section 5(b)(i) or 5(b)(ii) with respect to Party A as the Affected Party, or Section 5(b)(iii) with respect to Party A as the Burdened Party. For purposes of the Transaction to which this Agreement relates, Party B’s only obligation under Section 2(a)(i) is to pay the Fixed Amount on the Fixed Amount Payer Payment Date.

(r)
Consent to Recording. Each party hereto consents to the monitoring or recording, at any time and from time to time, by the other party of any and all communications between trading, marketing, and operations personnel of the parties and their Affiliates, waives any further notice of such monitoring or recording, and agrees to notify such personnel of such monitoring or recording.
 

(s)
Waiver of Jury Trial. Each party waives any right it may have to a trial by jury in respect of any suit, action or proceeding relating to this Agreement or any Credit Support Document.

(t)
Form of ISDA Master Agreement. Party A and Party B hereby agree that the text of the body of the ISDA Master Agreement is intended to be the printed form of the ISDA Master Agreement (Multicurrency - Crossborder) as published and copyrighted in 1992 by the International Swaps and Derivatives Association, Inc.

(u)
Payment Instructions. Party A hereby agrees that, unless notified in writing by Party B of other payment instructions, any and all amounts payable by Party A to Party B under this Agreement shall be paid to the account specified in Item 4 of this Confirmation, below.

(v)
Capacity. Party A represents to Party B on the date on which Party A enters into this Agreement that it is entering into the Agreement and the Transaction as principal and not as agent of any person. The Supplemental Interest Trust Trustee represents to Party A on the date on which Party B enters into this Agreement that the Supplemental Interest Trust Trustee is executing the Agreement not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust.

(w)
Substantial financial transactions. Each party hereto is hereby advised and acknowledges as of the date hereof that the other party has engaged in (or refrained from engaging in) substantial financial transactions and has taken (or refrained from taking) other material actions in reliance upon the entry by the parties into the Transaction being entered into on the terms and conditions set forth herein and in the Pooling and Servicing Agreement relating to such Transaction, as applicable. This paragraph shall be deemed repeated on the trade date of each Transaction.

(x)
Third Party Beneficiary. The parties hereto acknowledge and agree that the Certificate Insurer shall be an express third-party beneficiary of this Agreement
 
(y)
Optional Termination. In connection with the optional termination of the trust fund pursuant to Section 9.01 of the Pooling and Servicing Agreement, with effect following all distributions on the final Distribution Date under the Pooling and Servicing Agreement (such date, the “Optional Termination Distribution Date”):
 

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 16 of 24
 
 
(a)
(1) (A) Party B hereby assigns all of its rights and delegates all of its liabilities and obligations to Impac Mortgage Holdings, Inc., (“IMHI”) and IMHI hereby assumes all of Party B’s rights, liabilities, and obligations, under the Confirmations arising after the final distributions on the Optional Termination Distribution Date (the “Assigned Transactions”) and (B) Party A hereby consents to such assignment, delegation and assumption;
 
(2)  Party A and IMHI agree to enter into the Assigned Transactions as evidenced by confirmations (the “New Confirmations”) and each such New Confirmation will constitute a Confirmation (as that word is defined in the New Agreement, defined below) that supplements, forms a part of, and is subject to, an agreement (the “New Agreement”) in the form of the 1992 Multicurrency - Cross Border Master Agreement in the form published by the International Swaps and Derivatives Association, Inc. (the “ISDA Form”), executed by Party A and IMHI, but without any Schedule except for the election of the State of New York as the governing law and USD as the Termination Currency (as that word is defined in the New Agreement). Party A and IMHI further agree that such New Confirmations shall have substantially identical terms to the Assigned Transactions and Confirmations.
 
 
(b)
Party A and Party B are each released and discharged from further obligations owed under and in respect of the Assigned Transactions and their respective rights against each other thereunder are cancelled;
 
 
(c)
Party A hereby agrees that IMHI may do one of the following with each of the Assigned Transactions and the New Confirmations:
 
 
(i)
retain such Assigned Transaction and New Confirmation;
 
 
(ii)
assign all of its rights and delegate all of its liabilities and obligations under such Assigned Transaction and New Confirmation to a third party, such assignment and delegation to be effective upon the receipt of written consent thereto from Party A (in its sole and absolute discretion); or
 
 
(iii)
terminate such Assigned Transaction by giving three Business Days’ prior written notice to Party A (the “Optional Swap Termination”). In connection with the Optional Swap Termination, if any, a termination payment (if any) shall be payable by IMHI or Party A, as applicable, as determined by the Calculation Agent by the application of Section 6(e)(ii) of the ISDA Form Master Agreement, with Market Quotation and Second Method being the applicable method for determining the termination payment. The exercise of the right to terminate under this provision shall not be an Event of Default under any of the other Transactions between IMHI and Bear Stearns Financial Products Inc. For purposes of the Optional Swap Termination, IMHI shall be the sole Affected Party.
 
 
(d)
If IMHI exercises its right to retain an Assigned Transaction and New Confirmation pursuant to Part 5(y)(a)(2) of this Agreement, then Party A has the right to do one of the following with each such Assigned Transaction and New Confirmation:
 
(i) retain such Assigned Transaction and New Confirmation;
 
(ii) assign all of its rights and delegate all of its liabilities and obligations under such Assigned Transaction to a subsidiary of The Bear Stearns Companies, Inc. without the consent of IMHI;
 
or
 
(iii) assign all of its rights and delegate all of its liabilities and obligations under such Assigned Transaction to a third party with the consent of IMHI; provided, however, that if Party A exercises its right to assign such Assigned Transaction under (ii) or (iii) above the counterparty shall be an entity that (1) has executed an ISDA Master Agreement with IMHI and (2) agrees to accept all of the terms and conditions of such Assigned Transaction and New Confirmation without amendment or supplement.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 17 of 24
 
(z)
Additional Definitions. 
 
As used in this Agreement, the following terms shall have the meanings set forth below, unless the context clearly requires otherwise:
 
“Approved Ratings Threshold” means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

“Approved Replacement” means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d)of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

“Eligible Guarantee” means an unconditional and irrevocable guarantee of all present and future payment obligations and obligations to post collateral of Party A or an Eligible Replacement to Party B under this Agreement that is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Party B, the form and substance of which guarantee are subject to the Rating Agency Condition with respect to S&P.

Eligible Guarantor means an entity that (A) has credit ratings from S&P at least equal to the S&P Approved Ratings Threshold and (B) has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold, provided, for the avoidance of doubt, that an Eligible Guarantee of an Eligible Guarantor with credit ratings below the Moody’s First Trigger Ratings Threshold will not cause a Collateral Event (as defined in the Credit Support Annex) not to occur or continue with respect to Moody’s.  An Eligible Guarantor shall provide to Party B in writing all credit ratings described in this definition, upon the request of Party B.

“Eligible Replacement” means an entity (A) (i) (a) that has credit ratings from S&P at least equal to the S&P Approved Ratings Threshold, and (b) has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold, provided, for the avoidance of doubt, that an Eligible Replacement with credit ratings below the Moody’s First Trigger Ratings Threshold will not cause a Collateral Event (as defined in the Credit Support Annex) not to occur or continue with respect to Moody’s, or (ii) the present and future obligations (for the avoidance of doubt, not limited to payment obligations) of which entity to Party B under this Agreement are guaranteed pursuant to an Eligible Guarantee. An Eligible Replacement shall provide to Party B in writing all credit ratings described in this definition, upon the request of Party B.

“Estimated Swap Termination Payment” means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e), taking into account then current market conditions.

“Firm Offer” means (A) with respect to an Eligible Replacement, a quotation from such Eligible Replacement (i) in an amount equal to the actual amount payable by or to Party B in consideration of an agreement between Party B and such Eligible Replacement to replace Party A as the counterparty to this Agreement by way of novation or, if such novation is not possible, an agreement between Party B and such Eligible Replacement to enter into a Replacement Transaction (assuming that all Transactions hereunder become Terminated Transactions), and (ii) that constitutes an offer by such Eligible Replacement to replace Party A as the counterparty to this Agreement or enter a Replacement Transaction that will become legally binding upon such Eligible Replacement upon acceptance by Party B, and (B) with respect to an Eligible Guarantor, an offer by such Eligible Guarantor to provide an Eligible Guarantee that will become legally binding upon such Eligible Guarantor upon acceptance by the offeree.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 18 of 24
“Moody’s” means Moody’s Investors Service, Inc., or any successor thereto.

“Moody’s First Trigger Ratings Event” means that no Relevant Entity has credit ratings from Moody’s at least equal to the Moody’s First Trigger Ratings Threshold.

“Moody’s First Trigger Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

“Moody’s Second Trigger Ratings Event” means that no Relevant Entity has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold.

“Moody’s Second Trigger Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

“Permitted Transfer” means a transfer by novation by Party A pursuant to Section 6(b)(ii), Part 5(d), Part 5(b)(v), Part 5(e) or the second sentence of Section 7 (as amended herein) to a transferee (the “Transferee”) of all, but not less than all, of Party A’s rights, liabilities, duties and obligations under this Agreement, with respect to which transfer each of the following conditions is satisfied: (a) the Transferee is an Eligible Replacement; (b) Party A and the Transferee are both “dealers in notional principal contracts” within the meaning of Treasury regulations section 1.1001-4 (in each case as certified by such entity); (c) as of the date of such transfer the Transferee would not be required to withhold or deduct on account of Tax from any payments under this Agreement or would be required to gross up for such Tax under Section 2(d)(i)(4); (d) an Event of Default or Termination Event would not occur as a result of such transfer; (e) pursuant to a written instrument (the “Transfer Agreement”), the Transferee acquires and assumes all rights and obligations of Party A under the Agreement and the relevant Transaction; (f) Party B shall have determined, in its sole discretion, acting in a commercially reasonable manner, that such Transfer Agreement is effective to transfer to the Transferee all, but not less than all, of Party A’s rights and obligations under the Agreement and all relevant Transactions; (g) Party A will be responsible for any costs or expenses incurred in connection with such transfer (including any replacement cost of entering into a replacement transaction); (h) either (A) Moody’s has been given prior written notice of such transfer and the Rating Agency Condition is satisfied with respect to S&P or (B) each Swap Rating Agency has been given prior written notice of such transfer and such transfer is in connection with the assignment and assumption of this Agreement without modification of its terms, other than party names, dates relevant to the effective date of such transfer, tax representations (provided that the representations in Part 2(a)(i) are not modified) and any other representations regarding the status of the substitute counterparty of the type included in Part 5(b)(iv), Part 5(v)(i)(2) or Part 5(v)(ii), notice information and account details; and (i) such transfer otherwise complies with the terms of the Pooling and Servicing Agreement.
 
“Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder and each Swap Rating Agency specified in connection with such proposed act or omission, that the party acting or failing to act must consult with each of the specified Swap Rating Agencies and receive from each such Swap Rating Agency a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of any Certificates or Notes.

Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 19 of 24
 
“Relevant Entity” means Party A and, to the extent applicable, a guarantor under an Eligible Guarantee.

“Replacement Transaction” means, with respect to any Terminated Transaction or group of Terminated Transactions, a transaction or group of transactions that (i) would have the effect of preserving for Party B the economic equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that Date, and (ii) has terms which are substantially the same as this Agreement, including, without limitation, rating triggers, Regulation AB compliance, and credit support documentation, save for the exclusion of provisions relating to Transactions that are not Terminated Transaction.

“Required Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold. For purposes of determining whether a Required Ratings Downgrade Event has occurred, each Relevant Entity shall provide its credit ratings to Party B in writing, upon request of Party B.

“Required Ratings Threshold” means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

“S&P” means Standard & Poor's Rating Services, a division of The McGraw-Hill Companies, Inc., or any successor thereto.

“S&P Approved Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the S&P Approved Ratings Threshold.

“S&P Approved Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

“S&P Required Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the S&P Required Ratings Threshold.

“S&P Required Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “BBB-”.

“Swap Rating Agencies” means, with respect to any date of determination, each of S&P and Moody’s, to the extent that each such rating agency is then providing a rating for any of the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp. Mortgage Pass-Through Certificates, Series 2007-3 (the “Certificates”) or any notes backed by the Certificates (the “Notes”).

 
[Remainder of this page intentionally left blank.]


Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 20 of 24
 
4.
Account Details and Settlement Information:
 
Payments to Party A:

Citibank, N.A., New York
ABA Number: 021-0000-89, for the account of Bear, Stearns Securities Corp.
Account Number: 0925-3186, for further credit to Bear Stearns Financial Products Inc.
Sub-account Number: 102-04654-1-3
Attention: Derivatives Department

Payments to Party B:

Deutsche Bank Trust Company Americas
ABA: 021001033
A/C# 014-19-663
AC Name: NYLTD Funds Control - Stars West
Ref: Impac Secured Assets Corp. 2007-3 Cap Payment

NEITHER THE BEAR STEARNS COMPANIES INC. NOR ANY SUBSIDIARY OR AFFILIATE OF THE BEAR STEARNS COMPANIES INC. OTHER THAN PARTY A IS AN OBLIGOR OR A CREDIT SUPPORT PROVIDER ON THIS AGREEMENT.

This Agreement may be executed in several counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

Party B hereby agrees to check this Confirmation and to confirm that the foregoing correctly sets forth the terms of the Transaction by signing in the space provided below and returning to Party A a facsimile of the fully-executed Confirmation to 212-272-9857. For inquiries regarding U.S. Transactions, please contact Derivatives Documentation by telephone at 212-272-2711. For all other inquiries please contact Derivatives Documentation by telephone at 353-1-402-6233. Originals will be provided for your execution upon your request.


Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 21 of 24
 
We are very pleased to have executed this Transaction with you and we look forward to completing other transactions with you in the near future.

Very truly yours,

BEAR STEARNS FINANCIAL PRODUCTS INC.
 

By:  _______________________________
Name:
Title:


Party B, acting through its duly authorized signatory, hereby agrees to, accepts and confirms the terms of the foregoing as of the date hereof.


DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE ON BEHALF OF THE SUPPLEMENTAL INTEREST TRUST WITH RESPECT TO THE IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3

 
By:  _______________________________
Name:
Title:

am




Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 22 of 24

SCHEDULE I
(all such dates subject to adjustment in accordance with the Following Business Day Convention)

From and including
To but excluding
Notional Amount
(USD)
Effective Date
25-May-12
161,826,352.67
25-May-12
25-Jun-12
151,263,754.40
25-Jun-12
25-Jul-12
141,511,904.07
25-Jul-12
25-Aug-12
132,504,019.82
25-Aug-12
25-Sep-12
124,179,097.46
25-Sep-12
25-Oct-12
116,486,851.73
25-Oct-12
25-Nov-12
109,380,292.96
25-Nov-12
25-Dec-12
103,113,625.92
25-Dec-12
25-Jan-13
98,129,052.74
25-Jan-13
25-Feb-13
94,098,228.14
25-Feb-13
25-Mar-13
90,805,942.90
25-Mar-13
25-Apr-13
87,963,778.14
25-Apr-13
25-May-13
85,210,648.69
25-May-13
25-Jun-13
82,545,124.15
25-Jun-13
Termination Date
79,962,538.10


Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 23 of 24


Annex A

Paragraph 13 of the Credit Support Annex





 


Reference Number: FXNEC9418
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3
April 30, 2007
Page 24 of 24

Annex B




ANNEX A


ISDA®
CREDIT SUPPORT ANNEX
to the Schedule to the
ISDA Master Agreement
dated as of April 30, 2007 between
Bear Stearns Financial Products Inc. (hereinafter referred to as “Party A” or “Pledgor”)
and
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (hereinafter referred to as “Party B” or “Secured Party”)

For the avoidance of doubt, and notwithstanding anything to the contrary that may be contained in the Agreement, this Credit Support Annex shall relate solely to the Transaction documented in the Confirmation dated April 30, 2007, between Party A and Party B, Reference Number FXNEC9418.

 
Paragraph 13. Elections and Variables.
 
(a)
Security Interest for “Obligations”. The term “Obligations as used in this Annex includes the following additional obligations:
 
With respect to Party A: not applicable.
 
With respect to Party B: not applicable.
 
(b)
Credit Support Obligations.
 
 
(i)
Delivery Amount, Return Amount and Credit Support Amount.
 
 
(A)
“Delivery Amount has the meaning specified in Paragraph 3(a) as amended (I) by deleting the words “upon a demand made by the Secured Party on or promptly following a Valuation Date” and inserting in lieu thereof the words “not later than the close of business on each Valuation Date” and (II) by deleting in its entirety the sentence beginning “Unless otherwise specified in Paragraph 13” and ending “(ii) the Value as of that Valuation Date of all Posted Credit Support held by the Secured Party.” and inserting in lieu thereof the following:
 
The “Delivery Amount applicable to the Pledgor for any Valuation Date will equal the greatest of
 
 
(1)
the amount by which (a) the S&P Credit Support Amount for such Valuation Date exceeds (b) the S&P Value as of such Valuation Date of all Posted Credit Support held by the Secured Party,
 

 
 
(2)
the amount by which (a) the Moody’s First Trigger Credit Support Amount for such Valuation Date exceeds (b) the Moody’s First Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party, and
 
 
(3)
the amount by which (a) the Moody’s Second Trigger Credit Support Amount for such Valuation Date exceeds (b) the Moody’s Second Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party.
 
 
(B)
“Return Amount” has the meaning specified in Paragraph 3(b) as amended by deleting in its entirety the sentence beginning “Unless otherwise specified in Paragraph 13” and ending “(ii) the Credit Support Amount.” and inserting in lieu thereof the following:
 
The “Return Amount” applicable to the Secured Party for any Valuation Date will equal the least of
 
 
(1)
the amount by which (a) the S&P Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the S&P Credit Support Amount for such Valuation Date,
 
 
(2)
the amount by which (a) the Moody’s First Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the Moody’s First Trigger Credit Support Amount for such Valuation Date, and
 
 
(3)
the amount by which (a) the Moody’s Second Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the Moody’s Second Trigger Credit Support Amount for such Valuation Date.
 
 
(C)
“Credit Support Amount” shall not apply. For purposes of calculating any Delivery Amount or Return Amount for any Valuation Date, reference shall be made to the S&P Credit Support Amount, the Moody’s First Trigger Credit Support Amount, or the Moody’s Second Trigger Credit Support Amount, in each case for such Valuation Date, as provided in Paragraphs 13(b)(i)(A) and 13(b)(i)(B), above.
 
 
(ii)
Eligible Collateral.
 
The items set forth on the schedule of Eligible Collateral attached as Schedule A hereto will qualify as “Eligible Collateral” (for the avoidance of doubt, all Eligible Collateral described in (D) and (E) of column one of the Collateral Schedule to be denominated in USD).
 
 
(iii)
Other Eligible Support. 
 
The following items will qualify as “Other Eligible Support” for the party specified:
 
Not applicable.
REFERENCE NUMBER: FXNEC9418
Page 2 of 13

 
 
(iv)
Threshold.
 
 
(A)
“Independent Amount” means zero with respect to Party A and Party B.
 
 
(B)
“Threshold” means, with respect to Party A and any Valuation Date, zero if (i) a Collateral Event has occurred and has been continuing (x) for at least 30 days or (y) since this Annex was executed or (ii) a Required Ratings Downgrade Event has occurred and is continuing; otherwise, infinity.
 
  “Threshold” means, with respect to Party B and any Valuation Date, infinity.
 
 
(C)
“Minimum Transfer Amount” means USD 100,000 with respect to Party A and Party B; provided, however, that if the aggregate Certificate Principal Balance of the Certificates and the aggregate principal balance of the Notes rated by S&P is at the time of any transfer less than USD 50,000,000, the “Minimum Transfer Amount” shall be USD 50,000.
 
 
(D)
Rounding: The Delivery Amount will be rounded up to the nearest integral multiple of USD 10,000. The Return Amount will be rounded down to the nearest integral multiple of USD 10,000.
 
(c)
Valuation and Timing.
 
 
(i)
“Valuation Agent” means Party A.
 
 
(ii)
“Valuation Date” means each Local Business Day on which any of the S&P Credit Support Amount, the Moody’s First Trigger Credit Support Amount or the Moody’s Second Trigger Credit Support Amount is greater than zero.
 
 
(iii)
“Valuation Time” means the close of business in the city of the Valuation Agent on the Local Business Day immediately preceding the Valuation Date or date of calculation, as applicable; provided that the calculations of Value and Exposure will be made as of approximately the same time on the same date. The Valuation Agent will notify each party (or the other party, if the Valuation Agent is a party) of its calculations not later than the Notification Time on the applicable Valuation Date (or in the case of Paragraph 6(d), the Local Business Day following the day on which such relevant calculations are performed).”
 
 
(iv)
“Notification Time” means 11:00 a.m., New York time, on a Local Business Day.
 
 
(v)
External Calculations. At any time at which Party A (or, to the extent applicable, its Credit Support Provider) does not have a long-term unsubordinated and unsecured debt rating of at least “BBB+” from S&P, the Valuation Agent shall (at its own expense) obtain external calculations of Party B’s Exposure from at least two Reference Market-makers on the last Local Business Day of each calendar month. Any determination of the S&P Credit Support Amount shall be based on the greatest of Party B’s Exposure determined by the Valuation Agent and such Reference Market-makers. Such external calculation may not be obtained from the same Reference Market-maker more than four times in any 12-month period.
 
 
(vi)
Notice to S&P. At any time at which Party A (or, to the extent applicable, its Credit Support Provider) does not have a long-term unsubordinated and unsecured debt rating of at least “BBB+” from S&P, the Valuation Agent shall provide to S&P not later than the Notification Time on the Local Business Day following each Valuation Date its calculations of Party B’s Exposure and the S&P Value of any Eligible Credit Support or Posted Credit Support for that Valuation Date. The Valuation Agent shall also provide to S&P any external marks of Party B’s Exposure.
 
REFERENCE NUMBER: FXNEC9418
Page 3 of 13

 
(d)
Conditions Precedent and Secured Party’s Rights and Remedies. The following Termination Events will be a “Specified Condition” for the party specified (that party being the Affected Party if the Termination Event occurs with respect to that party): With respect to Party A and Party B: None.
 
(e)
Substitution.
 
 
(i)
Substitution Date” has the meaning specified in Paragraph 4(d)(ii).
 
 
(ii)
Consent. If specified here as applicable, then the Pledgor must obtain the Secured Party’s consent for any substitution pursuant to Paragraph 4(d): Inapplicable.
 
(f)
Dispute Resolution.
 
 
(i)
Resolution Time” means 1:00 p.m. New York time on the Local Business Day following the date on which the notice of the dispute is given under Paragraph 5.
 
 
(ii)
Value. Notwithstanding anything to the contrary in Paragraph 12, for the purpose of Paragraphs 5(i)(C) and 5(ii), the S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value, on any date, of Eligible Collateral other than Cash will be calculated as follows:
 
For Eligible Collateral in the form of securities listed in Paragraph 13(b)(ii): the product of (1)(x) the bid-side quotation at the Valuation Time for such securities on the principal national securities exchange on which such securities are listed, or (y) if such securities are not listed on a national securities exchange, the arithmetic mean of the bid-side quotations for such securities quoted at the Valuation Time by any three principal market makers for such securities selected by the Valuation Agent, provided that if only two bid-side quotations are obtained, then the arithmetic mean of such two bid-side quotations will be used, and if only one bid-side quotation is obtained, such quotation shall be used, or (z) if no such bid price is listed or quoted for such date, the bid price listed or quoted (as the case may be) at the Valuation Time for the day next preceding such date on which such prices were available and (2) the applicable Valuation Percentage for such Eligible Collateral.
 
 
(iii)
Alternative. The provisions of Paragraph 5 will apply.
 
(g)
Holding and Using Posted Collateral.
 
 
(i)
Eligibility to Hold Posted Collateral; Custodians. Party B (or its Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b), provided that the following conditions applicable to it are satisfied:
 
 
(1)
it is not a Defaulting Party.
 
 
(2)
Posted Collateral consisting of Cash or certificated securities that cannot be paid or delivered by book-entry may be held only in any state of the United States which has adopted the Uniform Commercial Code.
 
 
(3)
in the case of any Custodian for Party B, such Custodian (or, to the extent applicable, its parent company or credit support provider) shall then have a short-term unsecured and unsubordinated debt rating from S&P of at least “A-1”.
 
REFERENCE NUMBER: FXNEC9418
Page 4 of 13

Initially, the Custodian for Party B is: The Supplemental Interest Trust Trustee.
 
 
(ii)
Use of Posted Collateral. The provisions of Paragraph 6(c) will not apply to Party B, and Party B shall not have any right to use Posted Collateral or take any action specified in such Paragraph 6(c).
 
(h)
Distributions and Interest Amount.
 
 
(i)
Interest Rate. The “Interest Rate” will be the actual interest rate earned on Posted Collateral in the form of Cash that is held by Party B or its Custodian. Posted Collateral in the form of Cash shall be invested in such overnight (or redeemable within two Local Business Days of demand) Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Moody’s or Aaa by Moody’s, as directed by Party A. Gains and losses incurred in respect of any investment of Posted Collateral in the form of Cash in Permitted Investments as directed by Party A shall be for the account of Party A.
 
 
(ii)
Amendment of Paragraph 6(d)(i) - Distributions. Clause (d)(i) of Paragraph 6 shall be amended and restated to read in its entirety as follows:
 
“(i) Distributions. Subject to Paragraph 4(a), if Party B receives Distributions on a Local Business Day, it will Transfer to Party A not later than the following Local Business Day any Distributions it receives to the extent that a Delivery Amount would not be created or increased by that Transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed to be a Valuation Date for this purpose). ”
 
 
(iii)
Amendment of Paragraph 6(d)(ii) - Interest Amount. Clause (d)(ii) of Paragraph 6 shall be amended and restated to read in its entirety as follows:
 
“(ii) Interest Amount. In lieu of any interest, dividends or other amounts paid with respect to Posted Collateral in the form of Cash (all of which may be retained by the Secured Party), the Secured Party will Transfer to the Pledgor on the 20th day of each calendar month (or if such day is not a Local Business Day, the next Local Business Day) the Interest Amount. Any Interest Amount or portion thereof not Transferred pursuant to this Paragraph will constitute Posted Collateral in the form of Cash and will be subject to the security interest granted under Paragraph 2. For purposes of calculating the Interest Amount the amount of interest calculated for each day of the interest period shall be compounded monthly.” Secured Party shall not be obligated to transfer any Interest Amount unless and until it has received such amount.
 
(i)
Additional Representation(s). There are no additional representations by either party.
 
(j)
Other Eligible Support and Other Posted Support.
 
 
(i)
Value” with respect to Other Eligible Support and Other Posted Support means: not applicable.
 
 
(ii)
Transfer” with respect to Other Eligible Support and Other Posted Support means: not applicable.
 
(k)
Demands and Notices.All demands, specifications and notices under this Annex will be made pursuant to the Notices Section of this Agreement, except that any demand, specification or notice shall be given to or made at the following addresses, or at such other address as the relevant party may from time to time designate by giving notice (in accordance with the terms of this paragraph) to the other party:
 
REFERENCE NUMBER: FXNEC9418
Page 5 of 13

If to Party A, at the address specified pursuant to the Notices Section of this Agreement.
 
If to Party B, at the address specified pursuant to the Notices Section of this Agreement.
 
If to Party B’s Custodian: at the address designated in writing from time to time.
 
(l)
Address for Transfers. Each Transfer hereunder shall be made to the address specified below or to an address specified in writing from time to time by the party to which such Transfer will be made.
 
Party A account details for holding collateral:
 
Citibank, N.A., New York
ABA Number: 021-0000-89, for the account of Bear, Stearns Securities Corp.
Account Number: 0925-3186, for further credit to Bear Stearns Financial Products Inc.
Sub-account Number: 102-04654-1-3
Attention: Derivatives Department

Party B’s Custodian account details for holding collateral:
 
Deutsche Bank Trust Company Americas
ABA: 021001033
A/C# 014-19-663
AC Name: NYLTD Funds Control - Stars West
Ref: Impac Secured Assets Corp. 2007-3 Collateral Payment

(m)
Other Provisions.
 
 
(i)
Collateral Account. Party B shall open and maintain a segregated account, which shall be an Eligible Account, and hold, record and identify all Posted Collateral in such segregated account.
 
 
(ii)
Agreement as to Single Secured Party and Single Pledgor. Party A and Party B hereby agree that, notwithstanding anything to the contrary in this Annex, (a) the term “Secured Party” as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.
 
 
(iii)
Calculation of Value. Paragraph 4(c) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, Moody’s Second Trigger Value”. Paragraph 4(d)(ii) is hereby amended by (A) deleting the words “a Value” and inserting in lieu thereof “an S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value” and (B) deleting the words “the Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”. Paragraph 5 (flush language) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value”. Paragraph 5(i) (flush language) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”. Paragraph 5(i)(C) is hereby amended by deleting the word “the Value, if” and inserting in lieu thereof “any one or more of the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value, as may be”. Paragraph 5(ii) is hereby amended by (1) deleting the first instance of the words “the Value” and inserting in lieu thereof “any one or more of the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value” and (2) deleting the second instance of the words “the Value” and inserting in lieu thereof “such disputed S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value”. Each of Paragraph 8(b)(iv)(B) and Paragraph 11(a) is hereby amended by deleting the word “Value” and inserting in lieu thereof “least of the S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”.
 
REFERENCE NUMBER: FXNEC9418
Page 6 of 13

 
 
(iv)
Form of Annex. Party A and Party B hereby agree that the text of Paragraphs 1 through 12, inclusive, of this Annex is intended to be the printed form of ISDA Credit Support Annex (Bilateral Form - ISDA Agreements Subject to New York Law Only version) as published and copyrighted in 1994 by the International Swaps and Derivatives Association, Inc.
 
 
(v)
Events of Default. Clause (iii) of Paragraph 7 shall not apply to Party B.
 
 
(vi)
Expenses. Notwithstanding anything to the contrary in Paragraph 10, the Pledgor will be responsible for, and will reimburse the Secured Party for, all transfer and other taxes and other costs involved in any Transfer of Eligible Collateral.
 
 
(vii)
Withholding. Paragraph 6(d)(ii) is hereby amended by inserting immediately after “the Interest Amount” in the fourth line thereof the words “less any applicable withholding taxes.”
 
(ix) Additional Definitions. As used in this Annex:
 
“Collateral Event” means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.
 
“DV01” means, with respect to a Transaction and any date of determination, the estimated change in the Secured Party’s Transaction Exposure with respect to such Transaction that would result from a one basis point change in the relevant swap curve on such date, as determined by the Valuation Agent in good faith and in a commercially reasonable manner. The Valuation Agent shall, upon request of Party B, provide to Party B a statement showing in reasonable detail such calculation.
 
“Exposure” has the meaning specified in Paragraph 12, except that after the word “Agreement” the words “(assuming, for this purpose only, that Part 1(f) of the Schedule is deleted)” shall be inserted.
 
Local Business Day” means, for purposes of this Annex: any day on which (A) commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in New York and the location of Party A, Party B and any Custodian, and (B) in relation to a Transfer of Eligible Collateral, any day on which the clearance system agreed between the parties for the delivery of Eligible Collateral is open for acceptance and execution of settlement instructions (or in the case of a Transfer of Cash or other Eligible Collateral for which delivery is contemplated by other means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign deposits) in New York and the location of Party A, Party B and any Custodian.
 
“Moody’s First Trigger Credit Support Amount” means, for any Valuation Date, the excess, if any, of
REFERENCE NUMBER: FXNEC9418
Page 7 of 13

 
 
(I)
(A)
for any Valuation Date on which (I) a Moody’s First Trigger Ratings Event has occurred and has been continuing (x) for at least 30 Local Business Days or (y) since this Annex was executed and (II) it is not the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for at least 30 Local Business Days, an amount equal to the greater of (a) zero and (b) the sum of (i) the Secured Party’s Exposure for such Valuation Date and (ii) the sum, for each Transaction to which this Annex relates, of the lesser of (x) the product of the Moody’s First Trigger DV01 Multiplier and DV01 for such Transaction and such Valuation Date and (y) the product of (i) Moody’s First Trigger Notional Amount Multiplier, (ii) if a Scale Factor is specified in such Transaction, the Scale Factor (as defined in such Transaction) for such Transaction, or, if no Scale Factor is specified in such Transaction, 1 and (iii) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date, or
 
 
(B)
for any other Valuation Date, zero, over
 
(II) the Threshold for Party A such Valuation Date.
 
“Moody’s First Trigger DV01 Multiplier” means 15.
 
“Moody’s First Trigger Value” means, on any date and with respect to any Eligible Collateral other than Cash, the bid price obtained by the Valuation Agent multiplied by the Moody’s First Trigger Valuation Percentage for such Eligible Collateral set forth in Paragraph 13(b)(ii).
 
“Moody’s First Trigger Notional Amount Multiplier” means 2%.
 
“Moody’s Second Trigger Credit Support Amount” means, for any Valuation Date, the excess, if any, of
 
 
(I)
(A)
for any Valuation Date on which it is the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for at least 30 Local Business Days, an amount equal to the greatest of (a) zero, (b) the aggregate amount of the next payment due to be paid by Party A under each Transaction to which this Annex relates, and (c) the sum of (x) the Secured Party’s Exposure for such Valuation Date and (y) the sum, for each Transaction to which this Annex relates, of:
 
 
(1)
if such Transaction is not a Transaction-Specific Hedge, the lesser of (i) the product of the Moody’s Second Trigger DV01 Multiplier and DV01 for such Transaction and such Valuation Date and (ii) the product of (1) the Moody’s Second Trigger Notional Amount Multiplier, (2) if a Scale Factor is specified in such Transaction, the Scale Factor (as defined in such Transaction) for such Transaction, or, if no Scale Factor is specified in such Transaction, 1 and (3) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; or
 
 
(2)
if such Transaction is a Transaction-Specific Hedge, the lesser of (i) the product of the Moody’s Second Trigger Transaction-Specific Hedge DV01 Multiplier and DV01 for such Transaction and such Valuation Date and (ii) the product of (1) the Moody’s Second Trigger Transaction-Specific Hedge Notional Amount Multiplier, (2) if a Scale Factor is specified in such Transaction, the Scale Factor (as defined in such Transaction) for such Transaction, or, if no Scale Factor is specified in such Transaction, 1 and (3) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; or
 
REFERENCE NUMBER: FXNEC9418
Page 8 of 13

 
 
(B)
for any other Valuation Date, zero, over
 
(II) the Threshold for Party A for such Valuation Date.
 
Moody’s Second Trigger DV01 Multiplier” means 50.
 
“Moody’s Second Trigger Notional Amount Multiplier” means 8%.
 
“Moody’s Second Trigger Transaction-Specific Hedge DV01 Multiplier” means 65.
 
“Moody’s Second Trigger Transaction-Specific Hedge Notional Amount Multiplier” means 10%.
 
“Moody’s Second Trigger Value” means, on any date and with respect to any Eligible Collateral other than Cash, the bid price obtained by the Valuation Agent multiplied by the Moody’s Second Trigger Valuation Percentage for such Eligible Collateral set forth in Paragraph 13(b)(ii).
 
“Remaining Weighted Average Maturity” means, with respect to a Transaction, the expected weighted average maturity for such Transaction as determined by the Valuation Agent. 
 
“S&P Credit Support Amount” means, for any Valuation Date, the excess, if any, of
 
 
(I)
(A)
for any Valuation Date on which (i) an S&P Approved Ratings Downgrade Event has occurred and been continuing for at least 30 days or (ii) a S&P Required Ratings Downgrade Event has occurred and is continuing, an amount equal to the sum of (1) 100.0% of the Secured Party’s Exposure for such Valuation Date and (2) the sum, for each Transaction to which this Annex relates, of the product of (i) the Volatility Buffer for such Transaction, (ii) if a Scale Factor is specified in such Transaction, the Scale Factor (as defined in such Transaction) for such Transaction, or, if no Scale Factor is specified in such Transaction, 1 and (iii) the Notional Amount of such Transaction for the Calculation Period of such Transaction (each as defined in the related Confirmation) which includes such Valuation Date, or
 
 
(B)
for any other Valuation Date, zero, over
 
(II)    the Threshold for Party A for such Valuation Date.
REFERENCE NUMBER: FXNEC9418
Page 9 of 13

 
“S&P Value” means, on any date and with respect to any Eligible Collateral other than Cash, the product of (A) the bid price obtained by the Valuation Agent for such Eligible Collateral and (B) the S&P Valuation Percentage for such Eligible Collateral set forth in paragraph 13(b)(ii).
 
“Transaction Exposure” means, for any Transaction, Exposure determined as if such Transaction were the only Transaction between the Secured Party and the Pledgor.
 
“Transaction-Specific Hedge” means any Transaction that is (i) an interest rate swap in respect of which (x) the notional amount of the interest rate swap is “balance guaranteed” or (y) the notional amount of the interest rate swap for any Calculation Period (as defined in the related Confirmation) otherwise is not a specific dollar amount that is fixed at the inception of the Transaction, (ii) an interest rate cap, (iii) an interest rate floor or (iv) an interest rate swaption.
 
“Valuation Percentage” shall mean, for purposes of determining the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value with respect to any Eligible Collateral or Posted Collateral, the applicable S&P Valuation Percentage, Moody’s First Trigger Valuation Percentage, or Moody’s Second Trigger Valuation Percentage for such Eligible Collateral or Posted Collateral, respectively, in each case as set forth in Paragraph 13(b)(ii).
 
“Value” shall mean, in respect of any date, the related S&P Value, the related Moody’s First Trigger Value, and the related Moody’s Second Trigger Value.
 
“Volatility Buffer” means, for any Transaction, the related percentage set forth in the following table.
 
The higher of the S&P credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable
Remaining Weighted Average Maturity
up to 3 years
Remaining Weighted Average Maturity
up to 5 years
Remaining Weighted Average Maturity
up to 10 years
Remaining Weighted Average Maturity
up to 30 years
A-2” or higher
2.75%
3.25%
4.00%
4.75%
A-3”
3.25%
4.00%
5.00%
6.25%
BB+” or lower
3.50%
4.50%
6.75%
7.50%

 

 

 
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[TPW: NYLEGAL:671329.1] 17572-00246 05/04/2007 12:19 PM
 
REFERENCE NUMBER: FXNEC9418
Page 10 of 13

Page of
 

IN WITNESS WHEREOF, the parties have executed this Annex by their duly authorized representatives as of the date of the Agreement.
 
BEAR STEARNS FINANCIAL PRODUCTS INC.
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE ON BEHALF OF THE SUPPLEMENTAL INTEREST TRUST WITH RESPECT TO THE IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3
   
   
   
By:  _____________________________
Name
Title:
Date:
By:  __________________________
Name:
Title:
Date:

 

 


 
REFERENCE NUMBER: FXNEC9418
 

 
[TPW: NYLEGAL:671329.1] 17572-00246 05/04/2007 12:19 PM
 
REFERENCE NUMBER: FXNEC9418
Page 11 of 13

Page of
 

SCHEDULE A
 
ELIGIBLE COLLATERAL
 

 
 
ISDA Collateral
Asset Definition 
(ICAD) Code
Remaining Maturity in Years
S&P
Valuation
Percentage
Moody’s
First Trigger
Valuation 
Percentage
Moody’s
Second Trigger
Valuation
Percentage
(A) US-CASH
N/A
100%
100%
100%
(B) EU-CASH
N/A
92.5%
98%
94%
(C) GB-CASH
N/A
94.1%
98%
95%
(D) US-TBILL
US-TNOTE
US-TBOND
       
 
1 or less
98.9%
100%
100%
 
More than 1 but not more than 2
98.0%
100%
99%
 
More than 2 but not more than 3
97.4%
100%
98%
 
More than 3 but not more than 5
95.5%
100%
97%
 
More than 5 but not more than 7
93.7%
100%
96%
 
More than 7 but not more than 10
92.5%
100%
94%
 
More than 10 but not more than 20
91.1%
100%
90%
 
More than 20
88.6%
100%
88%
(E) US-GNMA
US-FNMA
US-FHLMC
       
 
1 or less
98.5%
100%
99%
 
More than 1 but not more than 2
97.7%
100%
99%
 
More than 2 but not more than 3
97.3%
100%
98%
 
More than 3 but not more than 5
94.5%
100%
96%
 
More than 5 but not more than 7
93.1%
100%
93%
 
More than 7 but not more than 10
90.7%
100%
93%
 
REFERENCE NUMBER: FXNEC9418
Page 12 of 13

 
 
More than 10 but not more than 20
87.7%
100%
89%
 
More than 20
84.4%
100%
87%
(F) Fixed-Rate GA-EUROZONE-GOV
 
Rated AAA or
better by S&P
Rated Aa3 or
better by
Moody's
Rated Aa3 or
better by
Moody's
 
1 or less
98.8%
98%
94%
 
More than 1 but not more than 2
97.9%
98%
93%
 
More than 2 but not more than 3
97.1%
98%
92%
 
More than 3 but not more than 5
91.2%
98%
90%
 
More than 5 but not more than 7
87.5%
98%
89%
 
More than 7 but not more than 10
83.8%
98%
88%
 
More than 10 but not more than 20
75.5%
98%
84%

 
The ISDA Collateral Asset Definition (ICAD) Codes used in this Schedule A are taken from the Collateral Asset Definitions (First Edition - June 2003) as published and copyrighted in 2003 by the International Swaps and Derivatives Association, Inc.
 
 
 

 
REFERENCE NUMBER: FXNEC9418
Page 13 of 13

 
ISDAâ

International Swaps and Derivatives Association, Inc.

MASTER AGREEMENT

dated as of April 30, 2007

LEHMAN BROTHERS
SPECIAL FINANCING INC.
 
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (THE “TRUST” AND “PARTY B”)
 
have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties confirming those Transactions.
 
Accordingly, the parties agree as follows:¾
 
1. Interpretation
 
(a) Definitions. The terms defined in Section 14 and in the Schedule will have the meanings therein specified for the purpose of this Master Agreement.
 
(b) Inconsistency.  In the event of any inconsistency between the provisions of the Schedule and the other provisions of this Master Agreement, the Schedule will prevail. In the event of any inconsistency between the provisions of any Confirmation and this Master Agreement (including the Schedule), such Confirmation will prevail for the purposes of the relevant Transaction.
 
(c) Single Agreement. All Transactions are entered into in reliance on the fact that this Master Agreement and all Confirmations form a single agreement between the parties (collectively referred to as this “Agreement”), and the parties would not otherwise enter into any Transactions.
 
2. Obligations
 
(a) General Conditions.
 
(i) Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement.
 
(ii) Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement.
 
(iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable condition precedent specified in this Agreement.

Copyright ã 1992 by International Swap and Derivatives Association, Inc.


value of that which was (or would have been) required to be delivered as of the originally scheduled date for delivery, in each case together with (to the extent permitted under applicable law) interest, in the currency of such amounts, from (and including) the date such amounts or obligations were or would have been required to have been paid or performed to (but excluding) such Early Termination Date, at the Applicable Rate. Such amounts of interest will be calculated on the basis of daily compounding and the actual number of days elapsed. The fair market value of any obligation referred to in clause (b) above shall be reasonably determined by the party obliged to make the determination under Section 6(e) or, if each party is so obliged, it shall be the average of the Termination Currency Equivalents of the fair market values reasonably determined by both parties.
 
IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below with effect from the date specified on the first page of this document.
 
 
LEHMAN BROTHERS
SPECIAL FINANCING INC.
 
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (THE “TRUST” AND “PARTY B”)
(Name of Party)
 
(Name of Party)
 
 
 
   
     
Name:
 
Name:
Title:
 
Title:
Date:
 
Date:
     
     


19



(Multicurrency-Cross Border)

SCHEDULE
to the
Master Agreement
dated as of April 30, 2007
between
LEHMAN BROTHERS SPECIAL FINANCING INC. (“Party A”),
a corporation organized under the laws of
the State of Delaware
and
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (THE “TRUST” AND “PARTY B”) 

All terms used herein and not otherwise defined are given their meaning in the Pooling and Servicing Agreement dated as of April 1, 2007 among Impac Secured Assets Corp.. as Depositor, Impac Funding Corporation, as master servicer and Deutsche Bank National Trust Company, as Trustee (the “Pooling and Servicing Agreement”).

Part 1.
Termination Provisions.

For the purposes of this Agreement:-

(a) “Specified Entity” will not apply to Party A or Party B for any purpose.

(b)
“Specified Transaction” will have the meaning specified in Section 14.

(c)
Events of Default.

 
(i)
The “Failure to Pay or Deliver” provisions of Section 5(a)(i) will apply to Party A and will apply to Party B; provided, however, that Section 5(a)(i) is hereby amended by replacing the word “third” with the word “first”; provided, further, that notwithstanding anything to the contrary in Section 5(a)(i), any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall not constitute an Event of Default under Section 5(a)(i) unless (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.

 
(ii)
The “Breach of Agreement” provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

 
(iii)
The “Credit Support Default” provisions of Section 5(a)(iii) will apply to Party A and will not apply to Party B except that Section 5(a)(iii)(1) will apply to Party B solely in respect of Party B’s obligations under Paragraph 3(b) of the Credit Support Annex; provided, however, that notwithstanding anything to the contrary in Section 5(a)(iii)(1), any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall not constitute an Event of Default under Section 5(a)(iii) unless (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.

 
(iv)
The “Misrepresentation” provisions of Section 5(a)(iv) will apply to Party A and will not apply to Party B.
 
19

 
 
(v)
The “Default under Specified Transaction” provisions of Section 5(a)(v) will apply to Party A and will not apply to Party B.

 
(vi)
The “Cross Default” provisions of Section 5(a)(vi) will apply to Party A and will not apply to Party B. For purposes of Section 5(a)(vi), solely with respect to Party A:

“Specified Indebtedness” will have the meaning specified in Section 14.

“Threshold Amount” means with respect to Party A three percent (3%) of the Stockholders’ Equity of Lehman Brothers Holdings Inc. (“Lehman Brothers Holdings Inc.” or “Holdings”), (or its equivalent in any other currency) or if applicable, another Eligible Guarantor.

 “Stockholders’ Equity” means with respect to an entity, at any time, the sum (as shown in the most recent annual audited financial statements of such entity) of (i) its capital stock (including preferred stock) outstanding, taken at par value, (ii) its capital surplus and (iii) its retained earnings, minus (iv) treasury stock, each to be determined in accordance with generally accepted accounting principles.

 
(vii)
The “Bankruptcy” provisions of Section 5(a)(vii) will apply to Party A and will apply to Party B except that the provisions of Section 5(a)(vii)(2), (6) (to the extent that such provisions refer to any appointment contemplated or effected by the Pooling and Servicing Agreement or any appointment to which Party B has not become subject), (7) and (9) will not apply to Party B; provided that, with respect to Party B only, Section 5(a)(vii)(4) is hereby amended by adding after the words “against it” the words “(excluding any proceeding or petition instituted or presented by Party A or its Affiliates)”, and Section 5(a)(vii)(8) is hereby amended by deleting the words “to (7) inclusive” and inserting lieu thereof “, (3), (4) as amended, (5), or (6) as amended”.

 
(viii)
The “Merger Without Assumption” provisions of Section 5(a)(viii) will apply to Party A and will apply to Party B.

(d) Termination Events.


(i) The “Illegality” provisions of Section 5(b)(i) will apply to Party A and will apply to Party B.

 
(ii)
The “Tax Event” provisions of Section 5(b)(ii) will apply to Party A except that, for purposes of the application of Section 5(b)(ii) to Party A, Section 5(b)(ii) is hereby amended by deleting the words “(x) any action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y)”, and the “Tax Event” provisions of Section 5(b)(ii) will apply to Party B.

 
(iii)
The “Tax Event Upon Merger” provisions of Section 5(b)(iii) will apply to Party A and will apply to Party B, provided that Party A shall not be entitled to designate an Early Termination Date by reason of a Tax Event upon Merger in respect of which it is the Affected Party.

 
(iv)
The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will not apply to Party A and will not apply to Party B.

(e)
The “Automatic Early Termination” provision of Section 6(a) will not apply to Party A and will not apply to Party B.

(f)  Payments on Early Termination. For the purpose of Section 6(e) of this Agreement:

 
(i)
Market Quotation will apply, provided, however, that, in the event of a Derivative Provider Trigger Event, the following provisions will apply:
 
20

 
 
(A)
The definition of Market Quotation in Section 14 shall be deleted in its entirety and replaced with the following:

“Market Quotation” means, with respect to one or more Terminated Transactions, a Firm Offer which is (1) made by a Reference Market-maker that is an Eligible Replacement, (2) for an amount that would be paid to Party B (expressed as a negative number) or by Party B (expressed as a positive number) in consideration of an agreement between Party B and such Reference Market-maker to enter into a Replacement Transaction, and (3) made on the basis that Unpaid Amounts in respect of the Terminated Transaction or group of Transactions are to be excluded but, without limitation, any payment or delivery that would, but for the relevant Early Termination Date, have been required (assuming satisfaction of each applicable condition precedent) after that Early Termination Date is to be included.

 
(B)
The definition of Settlement Amount shall be deleted in its entirety and replaced with the following:

“Settlement Amount” means, with respect to any Early Termination Date, an amount (as determined by Party B) equal to:

 
(a)
If a Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions is accepted by Party B so as to become legally binding on or before the day falling ten Local Business Days after the day on which the Early Termination Date is designated, or such later day as Party B may specify in writing to Party A, but in either case no later than one Local Business Day prior to the Early Termination Date (such day, the “Latest Settlement Amount Determination Day”), the Termination Currency Equivalent of the amount (whether positive or negative) of such Market Quotation;

 
(b)
If, on the Latest Settlement Amount Determination Day, no Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions has been accepted by Party B so as to become legally binding and one or more Market Quotations from Approved Replacements have been made and remain capable of becoming legally binding upon acceptance, the Settlement Amount shall equal the Termination Currency Equivalent of the amount (whether positive or negative) of the lowest of such Market Quotations (for the avoidance of doubt, the lowest of such Market Quotations shall be the lowest Market Quotation of such Market Quotations expressed as a positive number or, if any of such Market Quotations is expressed as a negative number, the Market Quotation expressed as a negative number with the largest absolute value); or

 
(c)
If, on the Latest Settlement Amount Determination Day, no Market Quotation for the relevant Terminated Transaction or group of Terminated Transactions is accepted by Party B so as to become legally binding and no Market Quotation from an Approved Replacement has been made and remains capable of becoming legally binding upon acceptance, the Settlement Amount shall equal Party B’s Loss (whether positive or negative and without reference to any Unpaid Amounts) for the relevant Terminated Transaction or group of Terminated Transactions.

 
(C)
If Party B requests Party A in writing to obtain Market Quotations, Party A shall use its reasonable efforts to do so before the Latest Settlement Amount Determination Day.

 
(D)
If the Settlement Amount is a negative number, Section 6(e)(i)(3) shall be deleted in its entirety and replaced with the following:

“(3) Second Method and Market Quotation. If the Second Method and Market Quotation apply, (I) Party B shall pay to Party A an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (II) Party B shall pay to Party A the Termination Currency Equivalent of the Unpaid Amounts owing to Party A and (III) Party A shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing to Party B; provided, however, that (x) the amounts payable under the immediately preceding clauses (II) and (III) shall be subject to netting in accordance with Section 2(c) of this Agreement and (y) notwithstanding any other provision of this Agreement, any amount payable by Party A under the immediately preceding clause (III) shall not be netted-off against any amount payable by Party B under the immediately preceding clause (I).”
21

 
 
(E)
At any time on or before the Latest Settlement Amount Determination Day at which two or more Market Quotations from Approved Replacements remain capable of becoming legally binding upon acceptance, Party B shall be entitled to accept only the lowest of such Market Quotations (for the avoidance of doubt, the lowest of such Market Quotations shall be the lowest Market Quotation of such Market Quotations expressed as a positive number or, if any of such Market Quotations is expressed as a negative number, the Market Quotation expressed as a negative number with the largest absolute value).

 
(ii)
The Second Method will apply.

(g) “Termination Currency” means USD.

(h)  Additional Termination Events. Additional Termination Events will apply as provided in Part 5(c).


Part 2.  Tax Matters.

(a) Tax Representations. 

 
(i)
Payer Representations. For the purpose of Section 3(e) of this Agreement: None.
 
(ii)  Payee Representations. For the purpose of Section 3(f) of this Agreement:
 
 
(A)
Party A makes the following representation(s): Party A represents that it is a corporation duly organized and validly existing under the laws of the State of Delaware.
     
(B) Party B makes the following representation(s): None. 

(b)
Tax Provisions.

 
(i)
Gross Up. Section 2(d)(i)(4) shall not apply to Party B as X, and Section 2(d)(ii) shall not apply to Party B as Y, in each case such that Party B shall not be required to pay any additional amounts referred to therein.

 
(ii)
Indemnifiable Tax. The definition of “Indemnifiable Tax” in Section 14 is deleted in its entirety and replaced with the following:

“Indemnifiable Tax” means, in relation to payments by Party A, any Tax and, in relation to payments by Party B, no Tax.

 
(iii)
Tax Representations in Confirmations. For purposes of Sections 2(d)(i)(4) and 3(f), any payee tax representation specified in a Confirmation under this Agreement shall be deemed to be specified in this Schedule.
 

22


Part 3.  Agreement to Deliver Documents.  

(a) For the purpose of Section 4(a)(i), tax forms, documents, or certificates to be delivered are:

Party required to
deliver document
 
Form/Document/
Certificate
 
Date by which to
be delivered
         
Party A and Party B
 
Forms and/or documents described in Section 4(a)(iii) of the Agreement.
 
Upon reasonable demand by the other party.
 
(b) For the purpose of Section 4(a)(ii), other documents to be delivered are:

Party required
to deliver
document
 
Form/Document/
Certificate
 
Date by which to
be delivered
 
Covered by
Section 3(d)
Representation
             
Party A and
Party B
 
Any documents required by the receiving party to evidence the authority of the delivering party or its Credit Support Provider, if any, for it to execute and deliver the Agreement, this Confirmation, and any Credit Support Documents to which it is a party, and to evidence the authority of the delivering party or its Credit Support Provider to perform its obligations under the Agreement, this Confirmation and any Credit Support Document, as the case may be.
 
Upon the execution and delivery of this Agreement.
 
Yes
             
Party A and
Party B
 
A certificate of an authorized officer of the party, as to the incumbency and authority of the respective officers of the party signing the Agreement, this Confirmation, and any relevant Credit Support Document, as the case may be.
 
Upon the execution and delivery of this Agreement.
 
Yes
             
Party A
 
Annual Report of Party A’s Credit Support Provider containing consolidated financial statements certified by independent certified public accountants and prepared in accordance with generally accepted accounting principles in the country in which Party A’s Credit Support Provider is organized.
 
Promptly upon becoming publicly available.
 
Yes
             
Party A
 
Quarterly Financial Statements of Party A’s Credit Support Provider containing unaudited, consolidated financial statements of Party A’s fiscal quarter prepared in accordance with generally accepted accounting principles in the country in which Party A’s Credit Support Provider is organized.
 
Promptly upon becoming publicly available.
 
Yes
 
23

 
Party required
to deliver
document
 
Form/Document/
Certificate
 
Date by which to
be delivered
 
Covered by
Section 3(d)
Representation
             
Party A
 
An opinion of counsel to Party A and Party A’s Credit Support Provider substantially in the form of Exhibit B to this Schedule.
 
Upon the execution and delivery of this Agreement.
 
No
             
Party B
 
Opinion(s) of counsel to Party B related to the Pooling and Servicing Agreement and other deal documents in the form reasonably acceptable to Party A.
 
Upon the execution and delivery of this Agreement.
 
No
             
Party A
 
A guarantee of Lehman Brothers Holding Inc. substantially in the form of Exhibit A to this Schedule.
 
Upon the execution and delivery of this Agreement.
 
No
             
Party B
 
Monthly Report.
 
At such time as each Monthly Report is delivered to Party B.
 
No
             
Party B
 
Copy of any notice delivered to or by Party B under the Pooling and Servicing Agreement.
 
Promptly upon availability.
 
No
             
Party B
 
Pooling and Servicing Agreement.
 
Promptly upon execution in final form.
 
No

 

Part 4. Miscellaneous.

(a)
Address for Notices: For the purposes of Section 12(a) of this Agreement:

Address for notices or communications to Party A:

 
Address:
Lehman Brothers Special Financing Inc.
c/o Lehman Brothers Inc.
Corporate Advisory Division
Transaction Management Group
745 Seventh Avenue
New York, New York 10019

 
Attention:
Documentation Manager
 
Telephone No.:
(212) 526-7187
 
Facsimile No.:
(212) 526-7672

(For all purposes)
24


Address for notices or communications to Party B:

 
Address:
c/o Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890-0001

 
Attention:
Corporate Trust Administration

 
Telephone No.:
(302) 636-6119

 
Facsimile No.:
(302) 636-4148

 
With a copy to:

 
Address:
Deutsche Bank National Trust Company
1761 E. Saint Andrew Place
Santa Ana, CA 92705

Attention:  Trust Administration - IM07S3  

 
Telephone No.:
(714) 247-6000
 
Facsimile No.:
(714) 247-6285
 
And With a copy to:

 
Address:
Ambac Assurance Corporation, One State Street Plaza, New York, NY 10004

Attention:                      Risk Management, Asset-Backed Securities 

 
Facsimile:
(212) 480-3682

(For all purposes)

(b) Process Agent. For the purpose of Section 13(c):

Party A appoints as its Process Agent: Not applicable.

Party B appoints as its Process Agent: Not applicable.

(c)
Offices. The provisions of Section 10(a) will apply to this Agreement.

(d)
Multibranch Party. For the purpose of Section 10(c) of this Agreement:

Party A is not a Multibranch Party.

 
Party B is not a Multibranch Party.

(e)
Calculation Agent. The Calculation Agent is Party A; provided, however, that if an Event of Default shall have occurred and is continuing with respect to Party A, Party B shall have the right to appoint a financial institution which shall qualify as Reference Market-maker to act as Calculation Agent until the discontinuance of the Event of Default with respect to Party A or the designation of an Early Termination Date under Section 6(c)(ii), reasonably acceptable to Party A, the cost for which shall be borne by Party A.

(f) Credit Support Document. 
25

 
 
Party A:
The Credit Support Annex which supplements, forms part of, and is subject to this Agreement, and any guarantee in support of Party A’s obligations under this Agreement.

Party B: The Credit Support Annex, solely in respect of Party B’s obligations under Paragraph 3(b) of the Credit Support Annex.

(g)
Credit Support Provider.

Party A: The guarantor under any guarantee in support of Party A’s obligations under this Agreement.

Party B: None.

(h)
Governing Law. The parties to this Agreement hereby agree that the law of the State of New York shall govern their rights and duties in whole, without regard to the conflict of law provisions thereof other than New York General Obligations Law Sections 5-1401 and 5-1402.

(i)
Netting of Payments. The parties agree that subparagraph (ii) of Section 2(c) will apply to each Transaction hereunder.

(j)
Affiliate.“Affiliate” shall have the meaning assigned thereto in Section 14; provided, however, that Party B shall be deemed to have no Affiliates for purposes of this Agreement, including for purposes of Section 6(b)(ii); and provided further, that (except for the purpose of Part 1(c)(vii)) with respect to Party A, such definition shall be understood to exclude Lehman Brothers Derivative Products Inc. and Lehman Brothers Financial Products Inc.

Part 5.  Others Provisions.

(a)
Definitions. Unless otherwise specified in a Confirmation, this Agreement and each Transaction under this Agreement are subject to the 2000 ISDA Definitions as published and copyrighted in 2000 by the International Swaps and Derivatives Association, Inc. (the “Definitions”), and will be governed in all relevant respects by the provisions set forth in the Definitions, without regard to any amendment to the Definitions subsequent to the date hereof. The provisions of the Definitions are hereby incorporated by reference in and shall be deemed a part of this Agreement, except that (i) references in the Definitions to a “Swap Transaction” shall be deemed references to a “Transaction” for purposes of this Agreement, and (ii) references to a “Transaction” in this Agreement shall be deemed references to a “Swap Transaction” for purposes of the Definitions. Each term capitalized but not defined in this Agreement shall have the meaning assigned thereto in the Pooling and Servicing Agreement.
 
In the event of any inconsistency among any of the following documents, the relevant document first listed shall govern: (i) the Confirmation, (ii) the Credit Support Annex; (iii) the Schedule, (iv) the Definitions and (v) the ISDA Master Agreement.

Each reference herein to a “Section” (unless specifically referencing the Pooling and Servicing Agreement) or to a “Section” “of this Agreement” will be construed as a reference to a Section of the ISDA Master Agreement; each herein reference to a “Part” will be construed as a reference to the provisions herein deemed incorporated in a Schedule to the ISDA Master Agreement; each reference herein to a “Paragraph” will be construed as a reference to a Paragraph of the Credit Support Annex.


(b) Amendments to ISDA Master Agreement.

 
(i)
Single Agreement. Section 1(c) is hereby amended by the adding the words “including, for the avoidance of doubt, the Credit Support Annex” after the words “Master Agreement”.

26

 
 
(ii)
Representations. Section 3 is hereby amended by adding at the end thereof the following subsection (g):

 
“(g)
Relationship Between Parties.

 
(1)
Nonreliance. In connection with the negotiation of, the entering into, and the execution of, this Agreement, any Credit Support Document to which it is a party, and each Transaction hereunder, each party acknowledges and agrees that: (i) It is not relying on any statement or representation of the other party regarding this Agreement, any Credit Support Document to which it is a party and each Transaction hereunder (whether written or oral), other than the representations expressly made in this Agreement, such Credit Support Document or the Confirmation in respect of that Transaction, it being understood that information and explanations related to the terms and conditions of a Transaction shall not be considered investment advice or a recommendation to enter into that Transaction; (ii) it has not received from the other party any assurance or guarantee as to the expected results of any Transaction; and (iii) it has consulted with its own legal, regulatory, tax, business, investment, financial and accounting advisors to the extent it has deemed necessary, and it has made its own investment, hedging and trading decisions based upon its own judgment and upon any advice from such advisors as it has deemed necessary and not upon any view expressed by the other party.
 
 
(2)
Evaluation and Understanding. (i) It has the capacity to evaluate (internally or through independent professional advice) the Transaction and has made its own decision to enter into the Transaction and (ii) It understands the terms, conditions and risks of the Transaction and is willing and able to accept those terms and conditions and to assume those risks, financially and otherwise.

 
(3)
Purpose. It is entering into the Transaction for the purposes of managing its borrowings or investments, hedging its underlying assets or liabilities or in connection with a line of business.

 
(4)
Status of Parties. The other party is not acting as an agent, fiduciary or advisor for it in respect of the Transaction.

 
(5)
Eligible Contract Participant. It is an “eligible swap participant” as such term is defined in, Section 35.1(b)(2) of the regulations (17 C.F.R. 35) promulgated under, and an “eligible contract participant” as defined in Section 1(a)(12) of the Commodity Exchange Act, as amended.


 
(iii)
Transfer to Avoid Termination Event. Section 6(b)(ii) is hereby amended by (i) deleting the words “or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party,” and (ii) by deleting the words “to transfer” and inserting the words “to effect a Permitted Transfer” in lieu thereof.

 
(iv)
Jurisdiction. Section 13(b) is hereby amended by: (i) deleting in the second line of subparagraph (i) thereof the word "non-", (ii) deleting “; and” from the end of subparagraph (i) and inserting “.” in lieu thereof, and (iii) deleting the final paragraph thereof.

 
(v)
Local Business Day. The definition of Local Business Day in Section 14 is hereby amended by the addition of the words “or any Credit Support Document” after “Section 2(a)(i)” and the addition of the words “or Credit Support Document” after “Confirmation”.

(c)
Additional Termination Events. The following Additional Termination Events will apply:
 
27

 
 
(i)
First Rating Trigger Collateral. If (A) it is not the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for 30 or more Local Business Days and (B) Party A has failed to comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex, then an Additional Termination Event shall have occurred with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event.

 
(ii)
Second Rating Trigger Replacement. If (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) (i) at least one Eligible Replacement has made a Firm Offer to be the transferee of all of Party A’s rights and obligations under this Agreement (and such Firm Offer remains an offer that will become legally binding upon such Eligible Replacement upon acceptance by the offeree) and/or (ii) an Eligible Guarantor has made a Firm Offer to provide an Eligible Guarantee (and such Firm Offer remains an offer that will become legally binding upon such Eligible Guarantor immediately upon acceptance by the offeree), then an Additional Termination Event shall have occurred with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event.

 
(iii)
Amendment of Pooling and Servicing Agreement. If, without the prior written consent of Party A , where such consent is required under the Pooling and Servicing Agreement (such consent not to be unreasonably withheld), an amendment is made to the Pooling and Servicing Agreement which amendment could reasonably be expected to have a material adverse effect on the interests of Party A, (excluding, for the avoidance of doubt, any amendment to the Pooling and Servicing Agreement that is entered into solely for the purpose of appointing a successor servicer, master servicer, securities administrator, trustee or other service provider) under this Agreement, an Additional Termination Event shall have occurred with respect to Party B and Party B shall be the sole Affected Party with respect to such Additional Termination Event.

 
(iv)
Inability to pay Class A Certificates. Solely with respect to the Transaction with Reference Number Risk ID: 1505159L / Effort ID: N1348743 / Global Deal ID: 3023486, if the Trustee fails or admits in writing its inability to pay (a) on any Distribution Date, any related Monthly Interest Distributable Amount with respect to its Class A Certificates or (b) on the Distribution Date immediately following the maturity date of the Mortgage Loan with the latest maturity date, the ultimate payment of principal with respect to its Class A Certificates, in either case to the extent required pursuant to the terms of the Pooling and Servicing Agreement to be paid to the Class A Certificates, then an Additional Termination Event shall have occurred with respect to Party B with Party B as the sole Affected Party with respect to such Additional Termination Event.
 

(d)
Required Ratings Downgrade Event. In the event that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold, then Party A shall, as soon as reasonably practicable and so long as a Required Ratings Downgrade Event is in effect, at its own expense, using commercially reasonable efforts, procure either (A) a Permitted Transfer or (B) an Eligible Guarantee.

(e)
Item 1115 Agreement. Party A and Party B hereby agree that the terms of the Item 1115 Agreement, dated as of April 30, 2007 (the “Item 1115 Agreement”), among Impac Funding Corporation (“Sponsor”), Impac Secured Assets Corp. (“Depositor”) and Lehman Brothers Special Financing Inc. (the “Derivative Provider”), shall be incorporated by reference into this Agreement and Party B shall be an express third party beneficiary of the Item 1115 Agreement. A copy of the Item 1115 Agreement is annexed hereto at Exhibit E.

(f)
Transfers. 
 
(i) Section 7 is hereby amended to read in its entirety as follows:
 
“Except with respect to any Permitted Transfer pursuant to Section 6(b)(ii), Part 5(d), the Item 1115 Agreement, or the succeeding sentence, neither Party A nor Party B is permitted to assign, novate or transfer (whether by way of security or otherwise) as a whole or in part any of its rights, obligations or interests under the Agreement or any Transaction unless (a) the prior written consent of the other party is obtained, and (b) the Rating Agency Condition has been satisfied with respect to S&P. At any time at which no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold, Party A may make a Permitted Transfer.”
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(ii)
If an Eligible Replacement has made a Firm Offer (which remains an offer that will become legally binding upon acceptance by Party B) to be the transferee pursuant to a Permitted Transfer, Party B shall, at Party A’s written request and at Party A’s expense, take any reasonable steps required to be taken by Party B to effect such transfer.
 
(g)
Non-Recourse. Party A acknowledges and agrees that, notwithstanding any provision in this Agreement to the contrary, the obligations of Party B hereunder are limited recourse obligations of Party B, payable solely from the Supplemental Interest Trust and the proceeds thereof, in accordance with the priority of payments and other terms of the Pooling and Servicing Agreement and that Party A will not have any recourse to any of the directors, officers, employees, agents, shareholders or affiliates of the Party B with respect to any claims, losses, damages, liabilities, indemnities or other obligations in connection with any transactions contemplated hereby. In the event that the Supplemental Interest Trust and the proceeds thereof, should be insufficient to satisfy all claims outstanding and following the realization of the account held by the Supplemental Interest Trust and the proceeds thereof, any claims against or obligations of Party B under the ISDA Master Agreement or any other confirmation thereunder still outstanding shall be extinguished and thereafter not revive. The Supplemental Interest Trust Trustee shall not have liability for any failure or delay in making a payment hereunder to Party A due to any failure or delay in receiving amounts in the account held by the Supplemental Interest Trust from the Trust created pursuant to the Pooling and Servicing Agreement. Nothing in this Part 5(g) shall preclude Party A from declaring an Event of Default or Termination Event as set forth in this Agreement.

(h)
Timing of Payments by Party B upon Early Termination. Notwithstanding anything to the contrary in Section 6(d)(ii), to the extent that all or a portion (in either case, the “Unfunded Amount”) of any amount that is calculated as being due in respect of any Early Termination Date under Section 6(e) from Party B to Party A will be paid by Party B from amounts other than any upfront payment paid to Party B by an Eligible Replacement that has entered a Replacement Transaction with Party B, then such Unfunded Amount shall be due on the next subsequent Distribution Date following the date on which the payment would have been payable as determined in accordance with Section 6(d)(ii), and on any subsequent Distribution Dates until paid in full (or if such Early Termination Date is the final Distribution Date, on such final Distribution Date); provided, however, that if the date on which the payment would have been payable as determined in accordance with Section 6(d)(ii) is a Distribution Date, such payment will be payable on such Distribution Date.

(i)
Rating Agency Notifications. Notwithstanding any other provision of this Agreement, no Early Termination Date shall be effectively designated hereunder by Party B and no transfer of any rights or obligations under this Agreement shall be made by either party unless each Swap Rating Agency has been given prior written notice of such designation or transfer.

(j)
No Set-off. Except as expressly provided for in Section 2(c), Section 6 or Part 1(f)(i)(D) hereof and notwithstanding any other provision of this Agreement or any other existing or future agreement, each party irrevocably waives any and all rights it may have to set off, net, recoup or otherwise withhold or suspend or condition payment or performance of any obligation between it and the other party hereunder against any obligation between it and the other party under any other agreements. Section 6(e) shall be amended by deleting the following sentence: “The amount, if any, payable in respect of an Early Termination Date and determined pursuant to this Section will be subject to any Set-off.”.
 
(k)
Amendment. Notwithstanding any provision to the contrary in this Agreement, no amendment of either this Agreement or any Transaction under this Agreement shall be permitted by either party unless each of the Swap Rating Agencies has been provided prior written notice of the same and such amendment satisfies the Rating Agency Condition with respect to S&P.

(l)
Notice of Certain Events or Circumstances. Each Party agrees, upon learning of the occurrence or existence of any event or condition that constitutes (or that with the giving of notice or passage of time or both would constitute) an Event of Default or Termination Event with respect to such party, promptly to give the other Party and to each Swap Rating Agency notice of such event or condition; provided that failure to provide notice of such event or condition pursuant to this Part 5(l) shall not constitute an Event of Default or a Termination Event.
 
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(m)   Proceedings. No Relevant Entity shall institute against, or cause any other person to institute against Party B, the Supplemental Interest Trust, or the trust formed pursuant to the Pooling and Servicing Agreement, in any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any federal or state bankruptcy or similar law for a period of one year (or, if longer, the applicable preference period) and one day following payment in full of the Certificates and any Notes; provided, that this provision shall not restrict or prohibit Party A from joining any other person, including, without limitation, the Trustee, in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings already commenced or other analogous proceedings already commenced under applicable law. This provision will survive the termination of this Agreement. 

(n)   Supplemental Interest Trust Trustee Liability Limitations. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed by Deutsche Bank National Trust Company (“Deutsche”) not in its individual capacity, but solely as Supplemental Interest Trust Trustee under the Pooling and Servicing Agreement in the exercise of the powers and authority conferred and invested in it thereunder; (b) Deutsche has been directed pursuant to the Pooling and Servicing Agreement to enter into this Agreement and to perform its obligations hereunder; (c) each of the representations, undertakings and agreements herein made on behalf of the Supplemental Interest Trust is made and intended not as personal representations of the Supplemental Interest Trust Trustee but is made and intended for the purpose of binding only the Supplemental Interest Trust; and (d) nothing herein contained shall be construed as creating any liability on Deutsche Bank National Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties who are signatories to this Agreement and by any person claiming by, through or under such parties and (e) under no circumstances shall Deutsche Bank National Trust Company be personally liable for the payment of any indemnity, indebtedness, fees or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement.


(o)
Severability. If any term, provision, covenant, or condition of this Agreement, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable (in whole or in part) in any respect, the remaining terms, provisions, covenants, and conditions hereof shall continue in full force and effect as if this Agreement had been executed with the invalid or unenforceable portion eliminated, so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective benefits or expectations of the parties; provided, however, that this severability provision shall not be applicable if any provision of Section 2, 5, 6, or 13 (or any definition or provision in Section 14 to the extent it relates to, or is used in or in connection with any such Section) shall be so held to be invalid or unenforceable.

The parties shall endeavor to engage in good faith negotiations to replace any invalid or unenforceable term, provision, covenant or condition with a valid or enforceable term, provision, covenant or condition, the economic effect of which comes as close as possible to that of the invalid or unenforceable term, provision, covenant or condition.

(p)
Agent for Party B. Party A acknowledges that the Depositor has appointed the Supplemental Interest Trust Trustee as agent pursuant to the Pooling and Servicing Agreement, to carry out certain functions on behalf of Party B, and that the Supplemental Interest Trust Trustee shall be entitled to give notices and to perform and satisfy the obligations of Party B hereunder on behalf of Party B.
 
 
(q)
Escrow Payments. If (whether by reason of the time difference between the cities in which payments are to be made or otherwise) it is not possible for simultaneous payments to be made on any date on which both parties are required to make payments hereunder, either Party may at its option and in its sole discretion notify the other Party that payments on that date are to be made in escrow. In this case deposit of the payment due earlier on that date shall be made by 2:00 pm (local time at the place for the earlier payment) on that date with an escrow agent selected by the notifying party, accompanied by irrevocable payment instructions (i) to release the deposited payment to the intended recipient upon receipt by the escrow agent of the required deposit of any corresponding payment payable by the other party on the same date accompanied by irrevocable payment instructions to the same effect or (ii) if the required deposit of the corresponding payment is not made on that same date, to return the payment deposited to the party that paid it into escrow. The party that elects to have payments made in escrow shall pay all costs of the escrow arrangements.
 
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(r)
Consent to Recording. Each party hereto consents to the monitoring or recording, at any time and from time to time, by the other party of any and all communications between trading, marketing, and operations personnel of the parties and their Affiliates, waives any further notice of such monitoring or recording. Promptly upon the request by a party, the other party will provide a copy of such recording to the party making the request.

(s)
Waiver of Jury Trial. Each party waives any right it may have to a trial by jury in respect of any suit, action or proceeding relating to this Agreement, any Transaction or any Credit Support Document and acknowledges that this waiver is a material inducement to the other party’s entering into this agreement and each transaction hereunder.

(t)
Form of ISDA Master Agreement. Party A and Party B hereby agree that the text of the body of the ISDA Master Agreement is intended to be the printed form of the ISDA Master Agreement (Multicurrency - Crossborder) as published and copyrighted in 1992 by the International Swaps and Derivatives Association, Inc.

(u)
Additional representations.
 
 
(i) Party A represents to Party B on the date on which Party A enters into each Transaction and this Agreement that it is entering into the Agreement and each Transaction as principal and not as agent of any person.
 
(ii) The Supplemental Interest Trust Trustee represents to Party A on the date on which the Supplemental Interest Trust Trustee executes this Agreement that it is executing the Agreement in its capacity as Supplemental Interest Trust Trustee.
 
(v)
Acknowledgements.

 
(i)
Substantial financial transactions. Each party hereto is hereby advised and acknowledges as of the date hereof that the other party has engaged in (or refrained from engaging in) substantial financial transactions and has taken (or refrained from taking) other material actions in reliance upon the entry by the parties into the Transaction being entered into on the terms and conditions set forth herein and in the Pooling and Servicing Agreement relating to such Transaction, as applicable. This paragraph shall be deemed repeated on the trade date of each Transaction.
 
 
(ii)
Bankruptcy Code. Subject to Part 5(m), without limiting the applicability if any, of any other provision of the U.S. Bankruptcy Code as amended (the “Bankruptcy Code”) (including without limitation Sections 362, 546, 556, and 560 thereof and the applicable definitions in Section 101 thereof), the parties acknowledge and agree that all Transactions entered into hereunder will constitute “forward contracts” or “swap agreements” as defined in Section 101 of the Bankruptcy Code or “commodity contracts” as defined in Section 761 of the Bankruptcy Code, that the rights of the parties under Section 6 of this Agreement will constitute contractual rights to liquidate Transactions, that any margin or collateral provided under any margin, collateral, security, pledge, or similar agreement related hereto will constitute a “margin payment” as defined in Section 101 of the Bankruptcy Code, and that the parties are entities entitled to the rights under, and protections afforded by, Sections 362, 546, 556, and 560 of the Bankruptcy Code.
 
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(w)
Limitation on Events of Default. Solely with respect to the Transaction with Reference Number Risk ID: 1505111L / Effort ID: N1348676 / Global Deal ID: 3023391 (the “Cap Transaction”), and notwithstanding the provisions of Sections 5 and 6, if at any time and so long as Party B has satisfied in full all its payment obligations under Section 2(a)(i) in respect of the Cap Transaction and has at the time no future payment obligations, whether absolute or contingent, under such Section in respect of the Cap Transaction, then unless Party A is required pursuant to appropriate proceedings to return to Party B or otherwise returns to Party B upon demand of Party B any portion of any such payment in respect of the Cap Transaction, (a) the occurrence of an event described in Section 5(a) with respect to Party B shall not constitute an Event of Default or Potential Event of Default with respect to Party B as Defaulting Party in respect of the Cap Transaction and (b) Party A shall be entitled to designate an Early Termination Date pursuant to Section 6 in respect of the Cap Transaction only as a result of the occurrence of a Termination Event set forth in either Section 5(b)(i) or 5(b)(ii) with respect to Party A as the Affected Party, or Section 5(b)(iii) with respect to Party A as the Burdened Party. Party A acknowledges and agrees that Party B’s only payment obligation under Section 2(a)(i) in respect of the Cap Transaction is to pay the related Fixed Amount on the related Fixed Amount Payer Payment Date.
 
(x)
Optional Termination. Upon the occurrence of a termination of the Trust Fund pursuant to Section 9.01 (the “Optional Termination”) of the Pooling and Servicing Agreement:
 
(a) Party B hereby assigns all of its rights and delegates all of its liabilities and obligations to Impac Mortgage Holdings, Inc., and Impac Mortgage Holdings, Inc. hereby assumes all of Party B’s rights, liabilities, and obligations, under the New Transaction and the New Confirmation arising on or after the final Payment Date under the Pooling and Servicing Agreement (such date, the “Optional Termination Payment Date”; such transaction and confirmation, collectively, the “Assigned Transaction”). The Assigned Transaction shall be governed by and form part of an agreement in the form of a 1992 ISDA Master Agreement between Party A and Impac Mortgage Holdings, Inc., dated as of April 26, 2001, as amended and supplemented from time to time. Party A hereby consents to the assignment and delegation by Party B of all of its rights, liabilities, and obligations under the Assigned Transaction to Impac Mortgage Holdings, Inc.;
 
(b) Party A and Party B hereby release one another from all liabilities and obligations owed under and in respect of the Assigned Transaction, and Party B hereby terminates its rights under and in respect of the Assigned Transaction;
 
(c) Party A hereby agrees that Impac Mortgage Holdings, Inc. may do one of the following with the Assigned Transaction:
 
(i) retain such Assigned Transaction;
 
(ii) further assign all of its rights and delegate all of its liabilities and obligations under the Assigned Transaction to a third party, such assignment and delegation to be effective upon the receipt of written consent thereto from Party A (in its sole and absolute discretion); or
 
(iii) terminate the Assigned Transaction by giving three Business Days’ prior written notice to Party A (the “Optional Termination Date”). On such Optional Termination Date, if any, a termination payment (if any) shall be payable by Impac Mortgage Holdings, Inc. or Party A, as applicable, as determined by the Calculation Agent by the application of Section 6(e)(ii) of the Agreement, with Market Quotation and Second Method being the applicable method for determining the termination payment. The exercise of the right to terminate under this provision shall not be an Event of Default under any of the other Transactions that are part of the Old Agreement or the New Agreement. For purposes of the Optional Termination Date, Impac Mortgage Holdings, Inc. shall be the sole Affected Party.
 
(z)
Insurer as Third Party Beneficiary. The parties hereto acknowledge and agree that Ambac Assurance Corporation shall be an express third-party beneficiary of this Agreement and shall be entitled to rely on (and enforce) the representations, warranties, covenants and obligations as set forth herein.
 
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(aa)
Notices to Insurer. Each of Party A and Party B acknowledges and agrees that a copy of each written default and/or termination notice sent to the other party hereto with respect to this Agreement shall be sent to the Ambac Assurance Corporation at its address as set forth herein.
 
(bb)
No Violation or Conflict Representation. Section 3(a)(iii) is hereby amended by inserting in the second line thereof after the words “constitutional documents” and before the words “, any order or judgment” the phrase “(including, but not limited to, the Pooling and Servicing Agreement as amended,).”; provided, such amendment shall be applicable only with respect to the Representations of Party B.

(cc)
Accuracy of Specified Information. Section 3(d) is hereby amended by inserting in the third line thereof after the words “in every material respect” and before the period the phrase “or, in the case of audited or unaudited financial statements, a fair presentation, in all material respects, of the financial condition of the relevant person.”

(dd)
Party A as Third-Party Beneficiary. Party B consents to Party A that Party A shall be an express third-party beneficiary of the Pooling and Servicing Agreement.

(ee)
Notices. For the purposes of subsections (iii) and (v) of Section 12(a), the date of receipt shall be presumed to be the date sent if sent on a Local Business Day or, if not sent on a Local Business Day, the date of receipt shall be presumed to be the first Local Business Day following the date sent.

(ee)
Service of Process. The third sentence of Section 13(c) shall be amended by adding the following language at the end thereof: "if permitted in the jurisdiction where the proceedings are initiated and in the jurisdiction where service is to be made."

(ff) Additional Definitions. 
 
As used in this Agreement, the following terms shall have the meanings set forth below, unless the context clearly requires otherwise:
 
“Approved Ratings Threshold” means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

“Approved Replacement” means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d) of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

“Derivative Provider Trigger Event” means (i) an Event of Default with respect to which Party A is a Defaulting Party, (ii) a Termination Event with respect to which Party A is the sole Affected Party or (iii) an Additional Termination Event with respect to which Party A is the sole Affected Party.

“Eligible Guarantee” means an unconditional and irrevocable guarantee of all present and future obligations of Party A (or an Eligible Replacement) to Party B under this Agreement that (a) is in a form identical to the attached hereto as Exhibit A, or (b) is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Party B, the form and substance of which guarantee is identical to that attached hereto as Exhibit A (except for the name, address and the jurisdiction of the guarantor), notice of which has been given to each Swap Rating Agency, or that otherwise satisfies the Rating Agency Condition with respect to S&P, and either (A) a law firm has given a legal opinion confirming that none of the guarantor’s payments to Party B under such guarantee will be subject to Tax collected by withholding or (B) such guarantee provides that, in the event that any of such guarantor’s payments to Party B are subject to Tax collected by withholding, such guarantor is required to pay such additional amount as is necessary to ensure that the net amount actually received by Party B (free and clear of any Tax collected by withholding) will equal the full amount Party B would have received had no such withholding been required.
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“Eligible Guarantor” means an entity that (A) has credit ratings from S&P at least equal to the S&P Approved Ratings Threshold and (B) has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold, including without limitation, Holdings for so long as Holdings has such credit ratings. An Eligible Guarantor shall provide to Party B in writing all credit ratings described in this definition, upon request of Party B.

“Eligible Replacement” means an entity (A) (i) (a) that has credit ratings from S&P at least equal to the S&P Approved Ratings Threshold, and (b) has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold, or (ii) the present and future obligations (for the avoidance of doubt, not limited to payment obligations) of which entity to Party B under this Agreement are guaranteed pursuant to an Eligible Guarantee and (B) that has executed an Item 1115 Agreement with Depositor. An Eligible Replacement shall provide to Party B in writing all credit ratings described in this definition, upon request of Party B.

“Estimated Swap Termination Payment” means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

“Firm Offer” means (A) with respect to an Eligible Replacement, a quotation from such Eligible Replacement (i) in an amount equal to the actual amount payable by or to Party B in consideration of an agreement between Party B and such Eligible Replacement to replace Party A as the counterparty to this Agreement by way of novation or, if such novation is not possible, an agreement between Party B and such Eligible Replacement to enter into a Replacement Transaction (assuming that all Transactions hereunder become Terminated Transactions), and (ii) that constitutes an offer by such Eligible Replacement to replace Party A as the counterparty to this Agreement or enter a Replacement Transaction that will become legally binding upon such Eligible Replacement upon acceptance by Party B, and (B) with respect to an Eligible Guarantor, an offer by such Eligible Guarantor to provide an Eligible Guarantee that will become legally binding upon such Eligible Guarantor upon acceptance by the offeree.

“Moody’s” means Moody’s Investors Service, Inc., or any successor thereto.

“Moody’s First Trigger Ratings Event” means that no Relevant Entity has credit ratings from Moody’s at least equal to the Moody’s First Trigger Ratings Threshold.

“Moody’s First Trigger Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

“Moody’s Second Trigger Ratings Event” means that no Relevant Entity has credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings Threshold.

“Moody’s Second Trigger Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.
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“Permitted Transfer” means a transfer by novation by Party A pursuant to Section 6(b)(ii), Part 5(d), the Item 1115 Agreement, or the second sentence of Section 7 (as amended herein) to a transferee (the “Transferee”) of all, but not less than all, of Party A’s rights, liabilities, duties and obligations under this Agreement, with respect to which transfer each of the following conditions is satisfied: (a) the Transferee is an Eligible Replacement; (b) Party A and the Transferee are both “dealers in notional principal contracts” within the meaning of Treasury regulations section 1.1001-4; (c) as of the date of such transfer the Transferee would not be required to withhold or deduct on account of Tax from any payments under this Agreement or would be required to gross up for such Tax under Section 2(d)(i)(4); (d) an Event of Default or Termination Event would not occur as a result of such transfer; (e) pursuant to a written instrument (the “Transfer Agreement”), the Transferee acquires and assumes all rights and obligations of Party A under the Agreement and the relevant Transaction; (f) Party B shall have determined in its sole discretion, such Transfer Agreement relates to all, but not less than all, of Party A’s rights and obligations under the Agreement and all relevant Transactions; (g) Party A will be responsible for any costs or expenses incurred in connection with such transfer (including any replacement cost of entering into a replacement transaction); (h) each Swap Rating Agency has been given prior written notice of such transfer and such transfer is in connection with the assignment and assumption of this Agreement without modification of its terms, other than party names, dates relevant to the effective date of such transfer, tax representations (provided that the representations in Part 2(a)(i) are not modified) and any other representations regarding the status of the substitute counterparty of the type included in Part 5(b)(iv), Part 5(v)(i)(2) or Part 5(v)(ii), notice information and account details, and (i) such transfer otherwise complies with the terms of the Pooling and Servicing Agreement.
 
“Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder and each Swap Rating Agency specified in connection with such proposed act or omission, that the party acting or failing to act must consult with each of the specified Swap Rating Agencies and receive from each such Swap Rating Agency a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of any Certificates or Notes.

“Relevant Entity” means Party A and, to the extent applicable, a guarantor under an Eligible Guarantee.

“Replacement Transaction” means, with respect to any Terminated Transaction or group of Terminated Transactions, a transaction or group of transactions that (i) would have the effect of preserving for Party B the economic equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that Date, and (ii) has terms which are substantially the same as this Agreement, including, without limitation, rating triggers, Regulation AB compliance, and credit support documentation, save for the exclusion of provisions relating to Transactions that are not Terminated Transaction, as determined by Party B in its sole discretion, acting in a commercially reasonable manner.

“Required Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

“Required Ratings Threshold” means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

“S&P” means Standard & Poor's Rating Services, a division of The McGraw-Hill Companies, Inc., or any successor thereto.

“S&P Approved Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.
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“S&P Required Ratings Threshold” means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “BBB+”.

“Swap Rating Agencies” means, with respect to any date of determination, each of S&P and Moody’s, to the extent that each such rating agency is then providing a rating for any of the Impac Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3 (the “Certificates”) or any notes backed by the Certificates (the “Notes”).

 
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36




 
 
LEHMAN BROTHERS
SPECIAL FINANCING INC.
 
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (THE “TRUST” AND “PARTY B”)
(Name of Party)
 
(Name of Party)
 
 
 
   
     
Name:
 
Name:
Title:
 
Title:
Date:
 
Date:
 
 
IMPAC MORTGAGE HOLDINGS, INC.
(Name of Party)
 
 
 
 
Name:
Title:
Date:

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Exhibit A

GUARANTEE OF LEHMAN BROTHERS HOLDINGS INC.
 
LEHMAN BROTHERS SPECIAL FINANCING INC. (“Party A”) and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee with respect to the Supplemental Interest Trust relating to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (“Party B”) have entered into a Master Agreement dated as of April 30, 2007, as amended from time to time (the “Master Agreement”), pursuant to which Party A and Party B have entered and/or anticipate entering into one or more transactions (each a “Transaction”), the Confirmation of each of which supplements, forms part of, and will be read and construed as one with, the Master Agreement (collectively referred to as the “Agreement”). This Guarantee is a Credit Support Document as contemplated in the Agreement. For value received, and in consideration of the financial accommodation accorded to Party A by Party B under the Agreement, LEHMAN BROTHERS HOLDINGS INC., a corporation organized and existing under the laws of the State of Delaware (“Guarantor”), hereby agrees to the following:
 
(a) Guarantor hereby unconditionally guarantees to Party B the due and punctual payment of all amounts payable by Party A in connection with each Transaction when and as Party A’s obligations thereunder shall become due and payable in accordance with the terms of the Agreement (whether at maturity, by acceleration or otherwise). Guarantor hereby agrees, upon written demand by Party B, to pay or cause to be paid any such amounts punctually when and as the same shall become due and payable.
 
(b) Guarantor hereby agrees that its obligations under this Guarantee constitute a guarantee of payment when due and not of collection.
 
(c) Guarantor hereby agrees that its obligations under this Guarantee shall be unconditional, irrespective of the validity, regularity or enforceability of the Agreement against Party A (other than as a result of the unenforceability thereof against Party B), the absence of any action to enforce Party A’s obligations under the Agreement, any waiver or consent by Party B with respect to any provisions thereof, the entry by Party A and Party B into any amendments to the Agreement, additional Transactions under the Agreement or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor (excluding the defense of payment or statute of limitations, neither of which is waived) provided, however, that Guarantor shall be entitled to exercise any right that Party A could have exercised under the Agreement to cure any default in respect of its obligations under the Agreement or to setoff, counterclaim or withhold payment in respect of any Event of Default or Potential Event of Default in respect of Party B or any Affiliate, but only to the extent such right is provided to Party A under the Agreement. The Guarantor acknowledges that Party A and Party B may from time to time enter into one or more Transactions pursuant to the Agreement and agrees that the obligations of the Guarantor under this Guarantee will upon the execution of any such Transaction by Party A and Party B extend to all such Transactions without the taking of further action by the Guarantor.
 
(d) This Guarantee shall remain in full force and effect until the first to occur of (i) receipt by Party B of a written notice of termination from Guarantor or (ii) none of the obligations of Party A remain outstanding. Termination of this Guarantee shall not affect Guarantor’s liability hereunder as to obligations incurred or arising out of Transactions entered into prior to the termination hereof.
 
(e) Guarantor further agrees that this Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligation or interest thereon is rescinded or must otherwise be restored by Party B upon an Event of Default as set forth in Section 5(a)(vii) of the Master Agreement affecting Party A or Guarantor.
 
(f) Guarantor hereby waives (i) promptness, diligence, presentment, demand of payment, protest, order and, except as set forth in paragraph (a) hereof, notice of any kind in connection with the Agreement and this Guarantee, or (ii) any requirement that Party B exhaust any right to take any action against Party A or any other person prior to or contemporaneously with proceeding to exercise any right against Guarantor under this Guarantee.
38

 
This Guarantee shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of laws principles. All capitalized terms not defined in this Guarantee, but defined in the Agreement, shall have the meanings assigned thereto in the Agreement.
 
IN WITNESS WHEREOF, Guarantor has caused this Guarantee to be executed by its duly authorized officer as of the date of the Agreement.
 

 
 
LEHMAN BROTHERS HOLDINGS INC.
   
   
 
By: __________________________________
 
Name: 
 
Title: 
 
Date: 


39

 
EXHIBIT B to Schedule

[Form of Opinion of Counsel for
Lehman Brothers Special Financing Inc. and
Lehman Brothers Holdings Inc.]
[date]
 
[COUNTERPARTY NAME]
[COUNTERPARTY ADDRESS]
 
Ladies and Gentlemen:
 
I have acted as counsel to Lehman Brothers Special Financing Inc., a Delaware corporation (“Party A”), and Lehman Brothers Holdings Inc., a Delaware corporation (“Guarantor”), and am familiar with matters pertaining to the execution and delivery of the Master Agreement (the “Master Agreement”) dated as of April 30, 2007, between Party A and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee with respect to the Supplemental Interest Trust relating to the Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3, and the guarantee of Guarantor (the Guarantee) delivered in connection with the Master Agreement.
 
In connection with this opinion, I have examined, or have had examined on my behalf, an executed copy of the Master Agreement and the Guarantee, certificates and statements of public officials and officers of Party  A and Guarantor and such other agreements, instruments, documents and records as I have deemed necessary or appropriate for the purposes of this opinion.
 
Except as expressly set forth herein, no independent investigation (including, without limitation, conducting any review, search or investigation of any public files, records or dockets) has been undertaken to determine the existence or absence of the facts that are material to my opinions, and no inference as to my knowledge concerning such facts should be made.
 
When used herein the phrase “to my knowledge” means to my actual knowledge without independent investigation.
 
References in this letter to “Applicable Laws” are to those laws, rules and regulations of the State of New York which, in my experience, are normally applicable to transactions of the type contemplated by the Master Agreement and the Guarantee. References in this letter to “Governmental Authorities” are to executive, legislative, judicial, administrative or regulatory bodies of the State of New York. References in this letter to “Governmental Approval” are to any consent, approval, license, authorization or validation of, or filing, recording or registration with, any Governmental Authority pursuant to Applicable Laws.
 
Based on the foregoing but subject to the assumptions, exceptions, qualifications and limitations hereinafter expressed, I am of the opinion that:
 
 
1.
Each of Party A and Guarantor is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware.
 
 
2.
The execution, delivery and performance of the Master Agreement, in the case of Party  A, and the Guarantee, in the case of Guarantor, are within its corporate power, have been duly authorized by all necessary corporate action and do not conflict with any provision of its certificate of incorporation or by-laws.
 
 
3.
The Master Agreement, in the case of Party A, and the Guarantee, in the case of Guarantor, have been duly executed and delivered and each constitutes a legal, valid and binding obligation under Applicable Laws, enforceable against it under Applicable Laws in accordance with its respective terms.
 

 
 
4.
To my knowledge, no Governmental Approval is required in connection with the execution, delivery and performance of the Master Agreement, in the case of Party A, or the Guarantee, in the case of Guarantor, except those that have been obtained and, to my knowledge, are in effect.
 
The foregoing opinions are subject to the following assumptions, exceptions, qualifications and limitations:
 
A.  My opinion in paragraph 3 above is subject to: (i) bankruptcy, insolvency, reorganization, receivership, moratorium or similar laws affecting creditors rights generally (including, without limitation, the effect of statutory or other laws regarding fraudulent or other similar transfers or conveyances); (ii) general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law; and (iii) laws and considerations of public policy, including where clauses (i) through (iii) above may limit the enforceability of provisions (a) regarding the termination and close-out methodology under the Master Agreement, including but not limited to Section 6(e) thereof, (b) regarding indemnification and contribution rights and obligations, (c) regarding the waiver or limitation of rights to trial by jury, oral amendments to written agreements or rights of setoff, (d) relating to submission to jurisdiction, venue or service of process and (e) purporting to prohibit or restrict, or require the consent of the “account debtor” (as defined in Section 9-102 of the Uniform Commercial Code as in effect in the State of New York (the “NYUCC” )) for, the creation, perfection or enforcement of a security interest in “accounts” or “general intangibles” (in each case, as defined in Section 9-102 of the NYUCC).
 
B. I am a member of the Bar of the [State of New York] [Commonwealth of Massachusetts] and render no opinion on any laws other than the laws of the State of New York and the General Corporation Law of the State of Delaware. Except as described, I have not examined, or had examined on my behalf, and I do not express any opinion with respect to, Delaware law.
 
C. My opinions are limited to the present laws and to the facts as they presently exist, and no opinion is to be inferred or implied beyond the matters expressly so stated. I assume no obligation to revise or supplement this opinion should the present laws of the jurisdictions referred to in paragraph B above be changed by legislative action, judicial decision or otherwise.
 
D. This letter is rendered solely to you solely for your benefit in connection with the Master Agreement and the Guarantee and the transactions related thereto and may not be relied upon by any other person, entity or agency or by you in any other context or for any other purpose. This letter may not be circulated, used or quoted in whole or in part, nor may copies hereof be furnished or delivered to any other person, without the prior written consent of Lehman Brothers Holdings Inc., except that you may furnish copies hereof (i)  to your independent auditors and attorneys, (ii)  to any United States, state or local authority having jurisdiction over you, (iii)  pursuant to the order of any court of competent jurisdiction or any governmental agency and (iv)  in connection with any legal action arising out of the Master Agreement or the Guarantee.
 
E. I have assumed with your permission (i)  the genuineness of all signatures by each party other than Party  A or Guarantor, (ii)  the authenticity of documents submitted to me as originals and the conformity to authentic original documents of all documents submitted to me as copies, (iii) the accuracy of the matters set forth in the documents, agreements and instruments I reviewed, (iv) that each party other than Party A and Guarantor is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, (v) the due execution and delivery, pursuant to due authorization, of the Master Agreement by each party other than Party A and (vi) that the Master Agreement is the legal, valid, binding and enforceable obligation of each party other than Party A, enforceable against each such party in accordance with its terms.
 
The foregoing opinions are given on the express understanding that the undersigned is an officer of Lehman Brothers Inc. and shall in no event incur any personal or other liability in connection with said opinions. By accepting and relying upon this opinion, each addressee hereof (i) acknowledges and agrees that the undersigned shall have no personal or other liability in connection herewith and (ii) agrees to not assert or raise any such claim against the undersigned in any proceeding or in any manner otherwise.

 
Very truly yours,
 
 
 
 
 




 
Exhibit C/D

Forms of Opinion of Counsel for Party B






Exhibit E

Item 1115 Agreement
 
 
 

 



Transaction
 
Date:
30 April, 2007
 
To:
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee (the “Supplemental Interest Trust Trustee”) with respect to the Supplemental Interest Trust relating to Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.
 
Attention:
Documentation Unit

 
From:
Lehman Brothers Special Financing Inc.
Transaction Management Group 
 
Facsimile:
(+1) 646-885-9551 (United States of America)
 
Telephone:
212-526-9570 (Louis P. Bardos)

Ref. Numbers:
Risk ID: 1505159L / Effort ID: N1348743 / Global Deal ID: 3023486
 

Dear Sir or Madam:
 
The purpose of this communication (this “Confirmation”) is to confirm the terms and conditions of the transaction (the “Transaction”) entered into between Lehman Brothers Special Financing Inc. (“Party A”) and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee with respect to the Supplemental Interest Trust relating to Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (“Party B”) on the Trade Date specified below. This Confirmation constitutes a “Confirmation” as referred to in the Agreement specified below.
 
This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 30 April, 2007, as amended and supplemented from time to time, between Party A and Party B (the “Agreement”). All provisions contained in the Agreement shall govern this Confirmation except as expressly modified below.
 
The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the “Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and the terms of this Confirmation, this Confirmation will govern. For the purpose of the Definitions, references herein to a “Transaction” shall be deemed to be references to a “Swap Transaction”.
 
The terms of the particular Transaction to which this Confirmation relates are as follows:
 
General Terms:
 
Trade Date:
26 April, 2007
Effective Date:
30 April, 2007
Termination Date:
25 April, 2012, subject to adjustment in accordance with the Following Business Day Convention.
Notional Amount:
USD598,988,120.00 - subject to adjustment in accordance with Appendix A attached hereto.
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 1 of 8

 
Floating Amounts:
 
Floating Amount Payer:
Party A
Floating Amount Payer Payment Dates:
The 25th calendar day of each month, from and including 25 May, 2007 to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
Floating Rate Option:
USD-LIBOR-BBA
Designated Maturity:
1 month
Spread:
Inapplicable
Floating Rate Day Count Fraction:
Actual/360
Floating Rate for initial Calculation Period:
5.32%
Reset Dates:
The first day of each Calculation Period
Fixed Amounts:
 
Fixed Amount Payer:
Party B
Fixed Amount Payer Payment Dates:
The 25th calendar day of each month, from and including 25 May, 2007 to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
Fixed Rate:
As per the Fixed Rate Schedule below:

Fixed Rate Schedule
Calculation Period from and including
Calculation Period up to but excluding
Fixed Rate (%)
30-Apr-2007
25-May-2007
5.00765
25-May-2007
25-Jun-2007
5.00746
25-Jun-2007
25-Jul-2007
5.007
25-Jul-2007
25-Aug-2007
5.00624
25-Aug-2007
25-Sep-2007
5.00517
25-Sep-2007
25-Oct-2007
5.00375
25-Oct-2007
25-Nov-2007
5.00195
25-Nov-2007
25-Dec-2007
4.99972
25-Dec-2007
25-Jan-2008
4.99701
25-Jan-2008
25-Feb-2008
4.9938
25-Feb-2008
25-Mar-2008
4.99017
25-Mar-2008
25-Apr-2008
4.98602
25-Apr-2008
25-May-2008
4.98169
25-May-2008
25-Jun-2008
4.97723
25-Jun-2008
25-Jul-2008
4.97264
25-Jul-2008
25-Aug-2008
4.96793
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 2 of 8

 
25-Aug-2008
25-Sep-2008
4.96309
25-Sep-2008
25-Oct-2008
4.9581
25-Oct-2008
25-Nov-2008
4.95297
25-Nov-2008
25-Dec-2008
4.94768
25-Dec-2008
25-Jan-2009
4.94214
25-Jan-2009
25-Feb-2009
4.93646
25-Feb-2009
25-Mar-2009
4.93061
25-Mar-2009
25-Apr-2009
4.9251
25-Apr-2009
25-May-2009
4.9251
25-May-2009
25-Jun-2009
4.9251
25-Jun-2009
25-Jul-2009
4.9251
25-Jul-2009
25-Aug-2009
4.9251
25-Aug-2009
25-Sep-2009
4.9251
25-Sep-2009
25-Oct-2009
4.9251
25-Oct-2009
25-Nov-2009
4.9251
25-Nov-2009
25-Dec-2009
4.9251
25-Dec-2009
25-Jan-2010
4.9251
25-Jan-2010
25-Feb-2010
4.9251
25-Feb-2010
25-Mar-2010
4.9251
25-Mar-2010
25-Apr-2010
4.9251
25-Apr-2010
25-May-2010
4.86032
25-May-2010
25-Jun-2010
4.86032
25-Jun-2010
25-Jul-2010
4.86032
25-Jul-2010
25-Aug-2010
4.86032
25-Aug-2010
25-Sep-2010
4.86032
25-Sep-2010
25-Oct-2010
4.86032
25-Oct-2010
25-Nov-2010
4.86032
25-Nov-2010
25-Dec-2010
4.86032
25-Dec-2010
25-Jan-2011
4.86032
25-Jan-2011
25-Feb-2011
4.86032
25-Feb-2011
25-Mar-2011
4.86032
25-Mar-2011
25-Apr-2011
4.86032
25-Apr-2011
25-May-2011
4.86032
25-May-2011
25-Jun-2011
4.86032
25-Jun-2011
25-Jul-2011
4.86032
25-Jul-2011
25-Aug-2011
4.86032
25-Aug-2011
25-Sep-2011
4.86032
25-Sep-2011
25-Oct-2011
4.86032
25-Oct-2011
25-Nov-2011
4.86032
25-Nov-2011
25-Dec-2011
4.86032
25-Dec-2011
25-Jan-2012
4.86032
25-Jan-2012
25-Feb-2012
4.86032
25-Feb-2012
25-Mar-2012
4.86032
25-Mar-2012
25-Apr-2012
4.86032
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 3 of 8


 
Fixed Rate Day Count Fraction:
30/360
Business Days:
New York
Miscellaneous:
 
Calculation Agent:
Party A
Office:
For the purposes of this Transaction, Party A is not a Multibranch Party, and the Office of Party B is its Head Office.

 

Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 4 of 8



 
Please confirm your agreement with the foregoing by executing this Confirmation and returning such Confirmation, in its entirety, to us at facsimile number (+1) 646-885-9551 (United States of America), Attention: Confirmations Group.
 

 
Yours sincerely,
Accepted and agreed to:
   
Lehman Brothers Special Financing Inc.
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3.
 
 
 
 
 
By: ________________________
Name:
Title:
   

 

Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 5 of 8



 
Appendix A
   
*Calculation Periods up to but excluding
the Payment Date scheduled to occur:
Outstanding Notional Amount:
   
25 May, 2007
USD 598,988,120.00
25 June, 2007
USD 596,405,111.82
25 July, 2007
USD 591,619,837.50
25 August, 2007
USD 584,587,861.54
25 September, 2007
USD 575,283,707.22
25 October, 2007
USD 563,702,910.61
25 November, 2007
USD 549,870,461.28
25 December, 2007
USD 533,829,808.62
25 January, 2008
USD 515,663,461.74
25 February, 2008
USD 495,546,117.64
25 March, 2008
USD 474,015,031.98
25 April, 2008
USD 451,087,165.92
25 May, 2008
USD 427,798,189.42
25 June, 2008
USD 405,663,515.64
25 July, 2008
USD 384,626,548.51
25 August, 2008
USD 364,633,696.32
25 September, 2008
USD 345,633,699.78
25 October, 2008
USD 327,577,946.60
25 November, 2008
USD 310,420,272.41
25 December, 2008
USD 294,116,577.50
25 January, 2009
USD 278,518,793.08
25 February, 2009
USD 263,726,734.27
25 March, 2009
USD 249,693,207.44
25 April, 2009
USD 236,843,190.00
25 May, 2009
USD 229,620,015.00
25 June, 2009
USD 222,615,135.00
25 July, 2009
USD 215,822,880.00
25 August, 2009
USD 209,235,960.00
25 September, 2009
USD 202,848,705.00
25 October, 2009
USD 196,655,040.00
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 6 of 8

 
*Calculation Periods up to but excluding
the Payment Date scheduled to occur:
Outstanding Notional Amount:
   
25 November, 2009
USD 190,648,890.00
25 December, 2009
USD 184,824,990.00
25 January, 2010
USD 179,177,265.00
25 February, 2010
USD 173,700,855.00
25 March, 2010
USD 168,390,900.00
25 April, 2010
USD 163,241,730.00
25 May, 2010
USD 123,082,155.00
25 June, 2010
USD 119,316,645.00
25 July, 2010
USD 115,665,480.00
25 August, 2010
USD 112,124,880.00
25 September, 2010
USD 108,692,010.00
25 October, 2010
USD 105,363,090.00
25 November, 2010
USD 102,135,600.00
25 December, 2010
USD 99,006,075.00
25 January, 2011
USD 95,971,365.00
25 February, 2011
USD 93,029,265.00
25 March, 2011
USD 90,176,310.00
25 April, 2011
USD 87,410,295.00
25 May, 2011
USD 84,728,070.00
25 June, 2011
USD 82,127,745.00
25 July, 2011
USD 79,606,485.00
25 August, 2011
USD 77,161,770.00
25 September, 2011
USD 74,791,710.00
25 October, 2011
USD 72,493,785.00
25 November, 2011
USD 70,265,790.00
25 December, 2011
USD 68,105,520.00
25 January, 2012
USD 66,011,085.00
25 February, 2012
USD 63,980,595.00
25 March, 2012
USD 62,011,845.00
25 April, 2012
USD 60,103,260.00

*subject to adjustment in accordance with the Following Business Day Convention.
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 7 of 8


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Risk ID: 1505159L / Effort ID: 1348743 / Global Deal ID: 3023486
Page 8 of 8



Transaction
 
Date:
30 April, 2007
 
To:
Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee (the “Supplemental Interest Trust Trustee”) with respect to the Supplemental Interest Trust relating to Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.
 
Attention:
Documentation Unit
 
From:
Lehman Brothers Special Financing Inc.
Transaction Management Group 
 
Facsimile:
(+1) 646-885-9551 (United States of America)
Telephone: 212-526-9570 (Louis P. Bardos) 

Ref. Numbers:
Risk ID: 1505111L / Effort ID: N1348676 / Global Deal ID: 3023391


Dear Sir or Madam:
 
The purpose of this communication (this “Confirmation”) is to confirm the terms and conditions of the transaction (the “Transaction”) entered into between Lehman Brothers Special Financing Inc. (“Party A”) and Deutsche Bank National Trust Company, not in its individual capacity, but solely as Supplemental Interest Trust Trustee with respect to the Supplemental Interest Trust relating to Impac Secured Assets Trust 2007-3, Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (“Party B”) on the Trade Date specified below. This Confirmation constitutes a “Confirmation” as referred to in the Agreement specified below.
 
This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 30 April, 2007, as amended and supplemented from time to time, between Party A and Party B (the “Agreement”). All provisions contained in the Agreement shall govern this Confirmation except as expressly modified below.
 
The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (the “Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and the terms of this Confirmation, this Confirmation will govern. For the purpose of the Definitions, references herein to a “Transaction” shall be deemed to be references to a “Swap Transaction”.
 
The terms of the particular Transaction to which this Confirmation relates are as follows:
 
General Terms:
 
Trade Date:
26 April, 2007
Effective Date:
30 April, 2007
Termination Date:
25 April, 2012, subject to adjustment in accordance with the Following Business Day Convention.
Notional Amount:
USD189,054,880.00 - subject to adjustment in accordance with Appendix A attached hereto.
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 1 of 8

 
Fixed Amounts:
 
Fixed Amount Payer:
Inapplicable
Fixed Amount Payer Payment Dates:
Inapplicable
Fixed Amount:
By its execution hereof and with effect from the Trade Date above Party A and Party B irrevocably acknowledges receipt of all agreed consideration from the other party in respect of this Transaction.
Floating Amounts:
 
Floating Amount Payer:
Party A
Cap Rate:
As per the Cap Rate Schedule below:

Cap Rate Schedule
Calculation Period from and including
Calculation Period up to but excluding
Cap Rate (%)
30-Apr-2007
25-May-2007
5.06138
25-May-2007
25-Jun-2007
5.06103
25-Jun-2007
25-Jul-2007
5.06068
25-Jul-2007
25-Aug-2007
5.06031
25-Aug-2007
25-Sep-2007
5.05993
25-Sep-2007
25-Oct-2007
5.05955
25-Oct-2007
25-Nov-2007
5.05915
25-Nov-2007
25-Dec-2007
5.05873
25-Dec-2007
25-Jan-2008
5.05831
25-Jan-2008
25-Feb-2008
5.05786
25-Feb-2008
25-Mar-2008
5.05741
25-Mar-2008
25-Apr-2008
5.05716
25-Apr-2008
25-May-2008
5.05715
25-May-2008
25-Jun-2008
5.05715
25-Jun-2008
25-Jul-2008
5.05715
25-Jul-2008
25-Aug-2008
5.05715
25-Aug-2008
25-Sep-2008
5.05715
25-Sep-2008
25-Oct-2008
5.05715
25-Oct-2008
25-Nov-2008
5.05715
25-Nov-2008
25-Dec-2008
5.05715
25-Dec-2008
25-Jan-2009
5.05715
25-Jan-2009
25-Feb-2009
5.05714
25-Feb-2009
25-Mar-2009
5.05714
25-Mar-2009
25-Apr-2009
5.05714
25-Apr-2009
25-May-2009
5.05714
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 2 of 8

 
25-May-2009
25-Jun-2009
5.05714
25-Jun-2009
25-Jul-2009
5.05714
25-Jul-2009
25-Aug-2009
5.05714
25-Aug-2009
25-Sep-2009
5.05714
25-Sep-2009
25-Oct-2009
5.05713
25-Oct-2009
25-Nov-2009
5.05713
25-Nov-2009
25-Dec-2009
5.05713
25-Dec-2009
25-Jan-2010
5.05713
25-Jan-2010
25-Feb-2010
5.05713
25-Feb-2010
25-Mar-2010
5.03253
25-Mar-2010
25-Apr-2010
5.01379
25-Apr-2010
25-May-2010
5.01378
25-May-2010
25-Jun-2010
5.01378
25-Jun-2010
25-Jul-2010
5.01378
25-Jul-2010
25-Aug-2010
5.01378
25-Aug-2010
25-Sep-2010
5.01378
25-Sep-2010
25-Oct-2010
5.01378
25-Oct-2010
25-Nov-2010
5.01378
25-Nov-2010
25-Dec-2010
5.01377
25-Dec-2010
25-Jan-2011
5.01377
25-Jan-2011
25-Feb-2011
5.01377
25-Feb-2011
25-Mar-2011
5.01377
25-Mar-2011
25-Apr-2011
5.01377
25-Apr-2011
25-May-2011
5.01377
25-May-2011
25-Jun-2011
5.01376
25-Jun-2011
25-Jul-2011
5.01376
25-Jul-2011
25-Aug-2011
5.01376
25-Aug-2011
25-Sep-2011
5.01376
25-Sep-2011
25-Oct-2011
5.01376
25-Oct-2011
25-Nov-2011
5.01376
25-Nov-2011
25-Dec-2011
5.01375
25-Dec-2011
25-Jan-2012
5.01375
25-Jan-2012
25-Feb-2012
5.01375
25-Feb-2012
25-Mar-2012
4.83329
25-Mar-2012
25-Apr-2012
4.83329

Floating Amount Payer Payment Dates:
The 25th calendar day of each month, from and including 25 May, 2007 to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
Floating Rate Option:
USD-LIBOR-BBA
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 3 of 8

 
Floating Rate for the initial Calculation Period:
5.32%
Designated Maturity:
1 month
Spread:
Inapplicable
Floating Rate Day Count Fraction:
Actual/360
Reset Dates:
The first day of each Calculation Period
Business Days:
New York
Miscellaneous:
 
Calculation Agent:
Party A
Office:
For the purposes of this Transaction, Party A is not a Multibranch Party, and the Office of Party B is its Head Office.

 

Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 4 of 8



 
Please confirm your agreement with the foregoing by executing this Confirmation and returning such Confirmation, in its entirety, to us at facsimile number (+1) 646-885-9551 (United States of America), Attention: Confirmations Group.
 

 
Yours sincerely,
Accepted and agreed to:
   
Lehman Brothers Special Financing Inc.
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3.
 
 
 
 
By: ________________________
Name:
Title:
   

 

Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 5 of 8



 
Appendix A
*Calculation Periods up to but excluding the Period End Date scheduled to occur:
Outstanding Notional Amount:
25 May, 2007
USD 189,054,880.00
25 June, 2007
USD 187,962,065.00
25 July, 2007
USD 186,458,185.00
25 August, 2007
USD 184,541,810.00
25 September, 2007
USD 182,214,245.00
25 October, 2007
USD 179,479,120.00
25 November, 2007
USD 176,343,185.00
25 December, 2007
USD 172,815,455.00
25 January, 2008
USD 168,908,050.00
25 February, 2008
USD 164,635,675.00
25 March, 2008
USD 160,015,745.00
25 April, 2008
USD 155,321,650.00
25 May, 2008
USD 150,596,120.00
25 June, 2008
USD 146,013,320.00
25 July, 2008
USD 141,569,075.00
25 August, 2008
USD 137,259,080.00
25 September, 2008
USD 133,079,435.00
25 October, 2008
USD 129,026,200.00
25 November, 2008
USD 125,095,470.00
25 December, 2008
USD 121,283,640.00
25 January, 2009
USD 117,587,185.00
25 February, 2009
USD 114,002,490.00
25 March, 2009
USD 110,526,385.00
25 April, 2009
USD 107,155,340.00
25 May, 2009
USD 103,886,495.00
25 June, 2009
USD 100,716,490.00
25 July, 2009
USD 97,642,605.00
25 August, 2009
USD 94,661,795.00
25 September, 2009
USD 91,771,280.00
25 October, 2009
USD 88,968,420.00
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 6 of 8

 
Appendix A
*Calculation Periods up to but excluding the Period End Date scheduled to occur:
Outstanding Notional Amount:
25 November, 2009
USD 86,250,395.00
25 December, 2009
USD 83,614,810.00
25 January, 2010
USD 81,059,175.00
25 February, 2010
USD 78,581,000.00
25 March, 2010
USD 62,502,180.00
25 April, 2010
USD 54,729,430.00
25 May, 2010
USD 53,055,030.00
25 June, 2010
USD 51,431,450.00
25 July, 2010
USD 49,857,220.00
25 August, 2010
USD 48,330,660.00
25 September, 2010
USD 46,850,580.00
25 October, 2010
USD 45,415,370.00
25 November, 2010
USD 44,023,770.00
25 December, 2010
USD 42,674,520.00
25 January, 2011
USD 41,366,150.00
25 February, 2011
USD 40,097,680.00
25 March, 2011
USD 38,867,640.00
25 April, 2011
USD 37,675,120.00
25 May, 2011
USD 36,518,790.00
25 June, 2011
USD 35,397,670.00
25 July, 2011
USD 34,310,710.00
25 August, 2011
USD 33,256,790.00
25 September, 2011
USD 32,235,000.00
25 October, 2011
USD 31,244,290.00
25 November, 2011
USD 30,283,750.00
25 December, 2011
USD 29,352,470.00
25 January, 2012
USD 28,449,540.00
25 February, 2012
USD 27,574,190.00
25 March, 2012
USD 13,780,410.00
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 7 of 8

 
Appendix A
*Calculation Periods up to but excluding the Period End Date scheduled to occur:
Outstanding Notional Amount:
25 April, 2012
USD 13,356,280.00

*subject to adjustment in accordance with the Following Business Day Convention.
 
 
 
 
 
 
 
 
 
 
 
 
Risk ID: 1505111L / Effort ID: 1348676 / Global Deal ID: 3023391
Page 8 of 8

 
 
ISDA®
CREDIT SUPPORT ANNEX
to the Schedule to the
ISDA Master Agreement
dated as of April 30, 2007 between
LEHMAN BROTHERS SPECIAL FINANCING INC.
(hereinafter referred to as “Party A” or “Pledgor”)
and
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (hereinafter referred to as “Party B” or “Secured Party”).
 
Paragraph 13. Elections and Variables.
 
(a)
Security Interest for “Obligations”. The term “Obligations as used in this Annex includes the following additional obligations:
 
With respect to Party A: not applicable.
 
With respect to Party B: not applicable.
 
(b)
Credit Support Obligations.
 
 
(i)
Delivery Amount, Return Amount and Credit Support Amount.
 
 
(A)
“Delivery Amount has the meaning specified in Paragraph 3(a) as amended (I) by deleting the words “upon a demand made by the Secured Party on or promptly following a Valuation Date” and inserting in lieu thereof the words “not later than the close of business on each Valuation Date” and (II) by deleting in its entirety the sentence beginning “Unless otherwise specified in Paragraph 13” and ending “(ii) the Value as of that Valuation Date of all Posted Credit Support held by the Secured Party.” and inserting in lieu thereof the following:
 
 
(B)
The “Delivery Amount applicable to the Pledgor for any Valuation Date will equal the greatest of
 
 
(1)
the amount by which (a) the S&P Credit Support Amount for such Valuation Date exceeds (b) the S&P Value as of such Valuation Date of all Posted Credit Support held by the Secured Party,
 
 
(2)
the amount by which (a) the Moody’s First Trigger Credit Support Amount for such Valuation Date exceeds (b) the Moody’s First Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party, and
 
 
(4)
the amount by which (a) the Moody’s Second Trigger Credit Support Amount for such Valuation Date exceeds (b) the Moody’s Second Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party.
 
11

 
 
(C)
“Return Amount” has the meaning specified in Paragraph 3(b) as amended by deleting in its entirety the sentence beginning “Unless otherwise specified in Paragraph 13” and ending “(ii) the Credit Support Amount.” and inserting in lieu thereof the following:
 
The “Return Amount” applicable to the Secured Party for any Valuation Date will equal the least of
 
 
(1)
the amount by which (a) the S&P Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the S&P Credit Support Amount for such Valuation Date,
 
 
(2)
the amount by which (a) the Moody’s First Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the Moody’s First Trigger Credit Support Amount for such Valuation Date, and
 
 
(4)
the amount by which (a) the Moody’s Second Trigger Value as of such Valuation Date of all Posted Credit Support held by the Secured Party exceeds (b) the Moody’s Second Trigger Credit Support Amount for such Valuation Date.
 
 
(D)
“Credit Support Amount” shall not apply. For purposes of calculating any Delivery Amount or Return Amount for any Valuation Date, reference shall be made to the S&P Credit Support Amount, Moody’s First Trigger Credit Support Amount, or the Moody’s Second Trigger Credit Support Amount, in each case for such Valuation Date, as provided in Paragraphs 13(b)(i)(A) and 13(b)(i)(B), above.
 
(ii) Eligible Collateral. On any day, the following items will qualify as “Eligible Collateral”(for the avoidance of doubt, all Eligible Collateral to be denominated in USD):
 
 
Collateral
S&P
Valuation
Percentage
Moody’s
First Trigger
Valuation 
Percentage
Moody’s
Second Trigger
Valuation 
Percentage
       
(A)      Cash
100%
100%
100%
       
(B)      Fixed-rate negotiable debt obligations issued by the U.S. Treasury Department having a remaining maturity on such date of not more than one year
98.5%
100%
100%
       
(C)      Fixed-rate negotiable debt obligations issued by the U.S. Treasury Department having a remaining maturity on such date of more than one year but not more than ten years
89.9%
100%
94%
       
(D)      Fixed-rate negotiable debt obligations issued by the U.S. Treasury Department having a remaining maturity on such date of more than ten years
83.9%
100%
87%

12

 
 
(ii)
Other Eligible Support. 
 
The following items will qualify as “Other Eligible Support” for the party specified:
 
Not applicable.
 
 
(iii)
Threshold.
 
 
(A)
“Independent Amount” means zero with respect to Party A and Party B.
 
 
(B)
“Threshold” means, with respect to Party A and any Valuation Date, zero if (i) a Collateral Event has occurred and has been continuing (x) for at least 30 days or (y) since this Annex was executed, or (ii) a Required Ratings Downgrade Event has occurred and is continuing; otherwise, infinity.
 
  “Threshold” means, with respect to Party B and any Valuation Date, infinity.
 
 
(C)
“Minimum Transfer Amount” means USD 100,000 with respect to Party A and Party B; provided, however, that if the aggregate Certificate Principal Balance of the Certificates and any Notes rated by S&P is at the time of any transfer less than USD 50,000,000, the “Minimum Transfer Amount” shall be USD 50,000.
 
 
(D)
Rounding: The Delivery Amount will be rounded up to the nearest integral multiple of USD 10,000. The Return Amount will be rounded down to the nearest integral multiple of USD 10,000.

 
 
(c)
Valuation and Timing.
 
 
(i)
“Valuation Agent” means Party A. All calculations by the Valuation Agent must be made in accordance with standard market practice, including, in the event of a dispute as to the Value of any Eligible Credit Support or Posted Credit Support, by making reference to quotations received by the Valuation Agent from one or more Pricing Sources.
 
 
(ii)
“Valuation Date” means each Local Business Day on which any of the S&P Credit Support Amount, the Moody’s First Trigger Credit Support Amount or the Moody’s Second Trigger Credit Support Amount is greater than zero.
 
 
(iii)
“Valuation Time” means the close of business in the city of the Valuation Agent on the Local Business Day immediately preceding the Valuation Date or date of calculation, as applicable; provided that the calculations of Value and Exposure will be made as of approximately the same time on the same date. The Valuation Agent will notify each party (or the other party, if the Valuation Agent is a party) of its calculations not later than the Notification Time on the applicable Valuation Date (or in the case of Paragraph 6(d), the Local Business Day following the day on which such relevant calculations are performed).”
 
 
(iv)
“Notification Time” means 1:00 p.m., New York time, on a Local Business Day.
 
 
(v)
External Verification. Notwithstanding anything to the contrary in the definitions of Valuation Agent or Valuation Date, at any time at which Party A (or, to the extent applicable, its Credit Support Provider) does not have a long-term unsubordinated and unsecured debt rating of at least “BBB+” from S&P, the Valuation Agent shall (A) calculate the Secured Party’s Exposure and the S&P Value of Posted Credit Support on each Valuation Date based on internal marks and (B) verify such calculations with external marks monthly by obtaining on the last Local Business Day of each calendar month two external marks for each Transaction to which this Annex relates and for all Posted Credit Support; such verification of the Secured Party’s Exposure shall be based on the higher of the two external marks. Each external mark in respect of a Transaction shall be obtained from an independent Reference Market-maker that would be eligible and willing to enter into such Transaction in the absence of the current derivative provider, provided that an external mark may not be obtained from the same Reference Market-maker more than four times in any 12-month period. The Valuation Agent shall obtain these external marks directly or through an independent third party, in either case at no cost to Party B. The Valuation Agent shall calculate on each Valuation Date (for purposes of this paragraph, the last Local Business Day in each calendar month referred to above shall be considered a Valuation Date) the Secured Party’s Exposure based on the greater of the Valuation Agent’s internal marks and the external marks received. If the S&P Value on any such Valuation Date of all Posted Credit Support then held by the Secured Party is less than the S&P Credit Support Amount on such Valuation Date (in each case as determined pursuant to this paragraph), Party A shall, within three Local Business Days of such Valuation Date, Transfer to the Secured Party Eligible Credit Support having an S&P Value as of the date of Transfer at least equal to such deficiency.
 
13

 
 
(vi)
Notice to S&P. At any time at which Party A (or, to the extent applicable, its Credit Support Provider) does not have a long-term unsubordinated and unsecured debt rating of at least “BBB+” from S&P, the Valuation Agent shall provide to S&P not later than the Notification Time on the Local Business Day following each Valuation Date its calculations of the Secured Party’s Exposure and the S&P Value of any Eligible Credit Support or Posted Credit Support for that Valuation Date. The Valuation Agent shall also provide to S&P any external marks received pursuant to the preceding paragraph.
 
(d)
Conditions Precedent and Secured Party’s Rights and Remedies. The following Termination Events will be a “Specified Condition” for the party specified (that party being the Affected Party if the Termination Event occurs with respect to that party): None.
 
(e)
Substitution.
 
 
(i)
Substitution Date” has the meaning specified in Paragraph 4(d)(ii).
 
 
(ii)
Consent. If specified here as applicable, then the Pledgor must obtain the Secured Party’s consent for any substitution pursuant to Paragraph 4(d): Inapplicable.
 
(f)
Dispute Resolution.
 
 
(i)
Resolution Time” means 1:00 p.m. New York time on the Local Business Day following the date on which the notice of the dispute is given under Paragraph 5.
 
 
(ii)
Value. Notwithstanding anything to the contrary in Paragraph 12, for the purpose of Paragraphs 5(i)(C) and 5(ii), the S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value, on any date, of Eligible Collateral other than Cash will be calculated as follows:
 
For Eligible Collateral in the form of securities listed in Paragraph 13(b)(ii): the sum of (A) the product of (1)(x) the bid price at the Valuation Time for such securities on the principal national securities exchange on which such securities are listed, or (y) if such securities are not listed on a national securities exchange, the bid price for such securities quoted at the Valuation Time by any principal market maker for such securities selected by the Valuation Agent, or (z) if no such bid price is listed or quoted for such date, the bid price listed or quoted (as the case may be) at the Valuation Time for the day next preceding such date on which such prices were available and (2) the applicable Valuation Percentage for such Eligible Collateral, and (B) the accrued interest on such securities (except to the extent Transferred to the Pledgor pursuant to Paragraph 6(d)(ii) or included in the applicable price referred to in the immediately preceding clause (A)) as of such date.
14

 
 
(iii)
Alternative. The provisions of Paragraph 5 will apply.
 
(g)
Holding and Using Posted Collateral.
 
 
(i)
Eligibility to Hold Posted Collateral; Custodians.  Party B (or any Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b), provided that the following conditions applicable to it are satisfied:
 
Party B may appoint as Custodian (A) the entity then serving as Supplemental Interest Trust Trustee or (B) any entity other than the entity then serving as Supplemental Interest Trust Trustee if such other entity (or, to the extent applicable, its parent company or credit support provider) is a bank or a trust company located in the United States having and has a short-term unsecured and unsubordinated debt rating from S&P of at least “A-1.”
 
Initially, the Custodian for Party B is: The Supplemental Interest Trust Trustee.
 
 
(ii)
Use of Posted Collateral. The provisions of Paragraph 6(c)(i) will not apply to Party B, but the provisions of Paragraph 6(c)(ii) will apply to Party B.
 
(h)
Distributions and Interest Amount.
 
 
(i)
Interest Rate. The “Interest Rate” will be the actual interest rate earned on Posted Collateral in the form of Cash that is held by Party B or its Custodian. Posted Collateral in the form of Cash shall be invested in such overnight (or redeemable within two Local Business Days of demand) Permitted Investments rated at least (x) AAAm or AAAm-G by S&P and (y) Prime-1 by Moody’s or Aaa by Moody’s, as directed by Party A (unless (x) an Event of Default or an Additional Termination Event has occurred with respect to which Party A is the defaulting or sole Affected Party or (y) an Early Termination Date has been designated, in which case such Posted Collateral shall be held uninvested). Gains and losses incurred in respect of any investment of Posted Collateral in the form of Cash in Permitted Investments as directed by Party A shall be for the account of Party A..
 
 
(ii)
Transfer of Interest Amount. The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b), in each case to the extent that a Delivery Amount would not be created or increased by that Transfer; provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.
 
 
(iii)
Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii) will apply.
 
(i)
Additional Representation(s). There are no additional representations by either party.
 
(j)
Other Eligible Support and Other Posted Support.
 
 
(i)
Value” with respect to Other Eligible Support and Other Posted Support means: not applicable.
 
 
(ii)
Transfer” with respect to Other Eligible Support and Other Posted Support means: not applicable.
 
15

 
(k)
Demands and Notices.All demands, specifications and notices under this Annex will be made pursuant to the Notices Section of this Agreement, except that any demand, specification or notice shall be given to or made at the following addresses, or at such other address as the relevant party may from time to time designate by giving notice (in accordance with the terms of this paragraph) to the other party:
 
If to Party A, at the address specified pursuant to the Notices Section of this Agreement.
 
If to Party B, at the address specified pursuant to the Notices Section of this Agreement.
 
 
If to Party B’s Custodian:  
Deutsche Bank National Trust Company 
1761 E. Saint Andrew Place 
Santa Ana, CA 92705 
Trust Administration - IM07S3
 
(l)
Address for Transfers. Each Transfer hereunder shall be made to the address specified below or to an address specified in writing from time to time by the party to which such Transfer will be made.
 
Party A account details for holding collateral - to be provided from time to time.
 
Party B’s Custodian account details for holding collateral:
 
Deutsche Bank Trust Company Americas 
ABA: 021001033 
A/C# 014-19-663 
AC Name: NYLTD Funds Control - Stars West 
Ref: IM07S3
 
(m)
Other Provisions.
 
 
(i)
Collateral Account. Party B shall open and maintain a segregated account, which shall be an Eligible Account segregated from the Swap Account and the Interest Rate Cap Account, as defined in the related Pooling and Servicing Agreement, and hold, record and identify all Posted Collateral in such segregated account.
 
 
(ii)
Agreement as to Single Secured Party and Single Pledgor. Notwithstanding anything to the contrary in the recital of this Annex, Paragraph 1(b), Paragraph 2 or the definitions in Paragraph 12, Party A and Party B hereby agree that, notwithstanding anything to the contrary in this Annex, (a) the term “Secured Party” as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.
 
 
(iii)
Calculation of Value. Paragraph 4(c) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, Moody’s Second Trigger Value”. Paragraph 4(d)(ii) is hereby amended by (A) deleting the words “a Value” and inserting in lieu thereof “an S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value” and (B) deleting the words “the Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”. Paragraph 5 (flush language) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value”. Paragraph 5(i) (flush language) is hereby amended by deleting the word “Value” and inserting in lieu thereof “S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”. Paragraph 5(i)(C) is hereby amended by deleting the word “the Value, if” and inserting in lieu thereof “any one or more of the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value, as the case may be”. Paragraph 5(ii) is hereby amended by (1) deleting the first instance of the words “the Value” and inserting in lieu thereof “any one or more of the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value” and (2) deleting the second instance of the words “the Value” and inserting in lieu thereof “such disputed S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value”. Each of Paragraph 8(b)(iv)(B) and Paragraph 11(a) is hereby amended by deleting the word “Value” and inserting in lieu thereof “least of the S&P Value, Moody’s First Trigger Value, and Moody’s Second Trigger Value”.
 
16

 
 
(iv)
Form of Annex. Party A and Party B hereby agree that the text of Paragraphs 1 through 12, inclusive, of this Annex is intended to be the printed form of ISDA Credit Support Annex (Bilateral Form - ISDA Agreements Subject to New York Law Only version) as published and copyrighted in 1994 by the International Swaps and Derivatives Association, Inc.
 
 
(v)
Events of Default. Paragraph 7 will not apply to cause any Event of Default to exist with respect to Party B except that Paragraph 7(i) will apply to Party B solely in respect of Party B’s obligations under Paragraph 3(b) of the Credit Support Annex. Notwithstanding anything to the contrary in Paragraph 7, any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall only be an Event of Default if (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days, and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.
 
 
(vi)
Expenses. Notwithstanding anything to the contrary in Paragraph 10, the Pledgor will be responsible for, and will reimburse the Secured Party for, all transfer and other taxes and other costs involved in any Transfer of Eligible Collateral.
 
 
(vii)
Withholding. Paragraph 6(d)(ii) is hereby amended by inserting immediately after “the Interest Amount” in the fourth line thereof the words “less any applicable withholding taxes.”
 
 
(viii)
Additional Definitions. As used in this Annex:
 
“Collateral Event” means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.
 
“DV01” means, with respect to a Transaction and any date of determination, the estimated change in the Secured Party’s Transaction Exposure with respect to such Transaction that would result from a one basis point change in the relevant swap curve on such date, as determined by the Valuation Agent in good faith and in a commercially reasonable manner. The Valuation Agent shall, upon request of Party B, provide to Party B a statement showing in reasonable detail such calculation.
 
“Exposure” has the meaning specified in Paragraph 12, except that after the word “Agreement” the words “(assuming, for this purpose only, that Part 1(f) of the Schedule is deleted)” shall be inserted and (2) at the end of such definition, the words “with terms substantially the same as those of this Agreement.” shall be inserted.
 
 Local Business Day” means, for purposes of this Annex: any day on which (A) commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in New York and the location of Party A, Party B and any Custodian, and (B) in relation to a Transfer of Eligible Collateral, any day on which the clearance system agreed between the parties for the delivery of Eligible Collateral is open for acceptance and execution of settlement instructions (or in the case of a Transfer of Cash or other Eligible Collateral for which delivery is contemplated by other means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign deposits) in New York and the location of Party A, Party B and any Custodian.
17

 
“Moody’s First Trigger Credit Support Amount” means, for any Valuation Date, the excess, if any, of
 
 
(I)
(A)
for any Valuation Date on which (I) a Moody’s First Trigger Ratings Event has occurred and has been continuing (x) for at least 30 Local Business Days or (y) since this Annex was executed and (II) it is not the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for at least 30 Local Business Days, an amount equal to the greater of (a) zero and (b) the sum of (i) the Secured Party’s Exposure for such Valuation Date and (ii) the sum, for each Transaction to which this Annex relates, of
 
     
the least of (x) the product of the Moody’s First Trigger DV01 Multiplier and DV01 for such Transaction and such Valuation Date, (y) the product of (i) Moody’s First Trigger Notional Amount Multiplier and (ii) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date and (z) the product of (i) the applicable Moody’s First Trigger Factor set forth in Table 1 and (ii) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; or
 
 
(B)
for any other Valuation Date, zero, over
 
(II) the Threshold for Party A such Valuation Date.
 
“Moody’s First Trigger DV01 Multiplier” means 15.
 
“Moody’s First Trigger Value” means, on any date and with respect to any Eligible Collateral other than Cash, the bid price obtained by the Valuation Agent multiplied by the Moody’s First Trigger Valuation Percentage for such Eligible Collateral set forth in Paragraph 13(b)(ii).
 
“Moody’s First Trigger Notional Amount Multiplier” means 2%.
 
“Moody’s Second Trigger Credit Support Amount” means, for any Valuation Date, the excess, if any, of
 
 
(I)
(A)
for any Valuation Date on which it is the case that a Moody’s Second Trigger Ratings Event has occurred and been continuing for at least 30 Local Business Days, an amount equal to the greatest of (a) zero, (b) the aggregate amount of the next payment due to be paid by Party A under each Transaction to which this Annex relates, and (c) the sum of (x) the Secured Party’s Exposure for such Valuation Date and (y) the sum, for each Transaction to which this Annex relates, of
 
(1) if such Transaction is not a Transaction-Specific Hedge,:
 
the least of (i) the product of the Moody’s Second Trigger DV01 Multiplier and DV01 for such Transaction and such Valuation Date, (ii) the product of (1) the Moody’s Second Trigger Notional Amount Multiplier and (2) the Notional Amount for such Transaction for the Calculation Period of such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; and (iii) the product of (1) the applicable Moody’s Second Trigger Factor set forth in Table 2 and (2) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; or
18

 
(2) if such Transaction is a Transaction-Specific Hedge,
 
the least of (i) the product of the Moody’s Second Trigger Transaction-Specific Hedge DV01 Multiplier and DV01 for such Transaction and such Valuation Date, (ii) the product of (1) the Moody’s Second Trigger Transaction-Specific Hedge Notional Amount Multiplier and (2) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; and (iii) the product of (1) the applicable Moody’s Second Trigger Factor set forth in Table 3 and (2) the Notional Amount for such Transaction for the Calculation Period for such Transaction (each as defined in the related Confirmation) which includes such Valuation Date; or
 
 
(B)
for any other Valuation Date, zero, over
 
(II) the Threshold for Party A for such Valuation Date.
 
Moody’s Second Trigger DV01 Multiplier” means 50.
 
“Moody’s Second Trigger Notional Amount Multiplier” means 8%.
 
“Moody’s Second Trigger Transaction-Specific Hedge DV01 Multiplier” means 65.
 
“Moody’s Second Trigger Transaction-Specific Hedge Notional Amount Multiplier” means 10%.
 
“Moody’s Second Trigger Value” means, on any date and with respect to any Eligible Collateral other than Cash, the bid price obtained by the Valuation Agent multiplied by the Moody’s Second Trigger Valuation Percentage for such Eligible Collateral set forth in Paragraph 13(b)(ii).
 
“Pricing Sources” means the sources of financial information commonly known as Bloomberg, Bridge Information Services, Data Resources Inc., Interactive Data Services, International Securities Market Association, Merrill Lynch Securities Pricing Service, Muller Data Corporation, Reuters, Wood Gundy, Trepp Pricing, JJ Kenny, and S&P.
 
“Remaining Weighted Average Maturity” means, with respect to a Transaction, the expected weighted average maturity for such Transaction as determined by the Valuation Agent. 
 
“S&P Approved Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the S&P Approved Ratings Threshold.
 
“S&P Credit Support Amount” means, for any Valuation Date, the excess, if any, of
 
 
(I)
(A)
for any Valuation Date on which (i) a S&P Approved Ratings Downgrade Event has occurred and been continuing for at least 30 days, or (ii) a S&P Required Ratings Downgrade Event has occurred and is continuing, an amount equal to the sum of (1) 100.0% of the Secured Party’s Exposure for such Valuation Date and (2) the sum, for each Transaction to which this Annex relates, of the product of (i) the S&P Volatility Buffer for such Transaction and (ii) the Notional Amount of such Transaction for the Calculation Period of such Transaction (each as defined in the related Confirmation) which includes such Valuation Date, or
 
19

 
 
(B)
for any other Valuation Date, zero, over
 
(II) the Threshold for Party A for such Valuation Date.
 
“S&P Required Ratings Downgrade Event” means that no Relevant Entity has credit ratings at least equal to the S&P Required Ratings Threshold.
 
“S&P Value” means, on any date and with respect to any Eligible Collateral other than Cash, the product of (A) the bid price obtained by the Valuation Agent for such Eligible Collateral and (B) the S&P Valuation Percentage for such Eligible Collateral set forth in paragraph 13(b)(ii).
 
S&P Volatility Buffer means, for any Transaction, the related percentage set forth in the following tables for S&P.
 
The higher of the S&P credit rating of (i) Party A and (ii) the Credit Support Provider of Party A, if applicable
Remaining Weighted Average Maturity of such Transaction
up to 3 years
Remaining Weighted Average Maturity of such Transaction
up to 5 years
Remaining Weighted Average Maturity of such Transaction
Up to 10 years
Remaining Weighted Average Maturity of such Transaction
up to 30 years
“A-2” or higher
2.75%
3.25%
4.00%
4.75%
“A-3”
3.25%
4.00%
5.00%
6.25%
“BB+” or lower
3.50%
4.50%
6.75%
7.50%
 
“Transaction Exposure” means, for any Transaction, Exposure determined as if such Transaction were the only Transaction between the Secured Party and the Pledgor.
 
“Transaction-Specific Hedge” means any Transaction that is (i) an interest rate swap in respect of which (x) the notional amount of the interest rate swap is “balance guaranteed” or (y) the notional amount of the interest rate swap for any Calculation Period (as defined in the related Confirmation) otherwise is not a specific dollar amount that is fixed at the inception of the Transaction, (ii) an interest rate cap, (iii) an interest rate floor or (iv) an interest rate swaption.
 
“Valuation Percentage” shall mean, for purposes of determining the S&P Value, Moody’s First Trigger Value, or Moody’s Second Trigger Value with respect to any Eligible Collateral or Posted Collateral, the applicable S&P Valuation Percentage, Moody’s First Trigger Valuation Percentage, or Moody’s Second Trigger Valuation Percentage for such Eligible Collateral or Posted Collateral, respectively, in each case as set forth in Paragraph 13(b)(ii).
 
“Value” shall mean, in respect of any date, the related S&P Value, the related Moody’s First Trigger Value, and the related Moody’s Second Trigger Value.
20

 
“Volatility Buffer” means, for any Transaction, the related percentage set forth in the following table (other than a Transaction identified in the related Confirmation as a Timing Hedge).
 
 
[Remainder of this page intentionally left blank]
 
 
IN WITNESS WHEREOF, the parties have executed this Annex by their duly authorized representatives as of the date of the Agreement.
 

 
 
LEHMAN BROTHERS
SPECIAL FINANCING INC.
 
DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS SUPPLEMENTAL INTEREST TRUST TRUSTEE (THE “SUPPLEMENTAL INTEREST TRUST TRUSTEE”) WITH RESPECT TO THE SUPPLEMENTAL INTEREST TRUST RELATING TO IMPAC SECURED ASSETS TRUST 2007-3, IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 (THE “TRUST” AND “PARTY B”)
     
(Party A)
 
(Party B)
 
 
 
   
     
Name:
 
Name:
Title:
 
Title:
Date:
 
Date:

 

21



Table 1
 
Moody’s First Trigger Factor
 
 
Remaining
Weighted Average Life
of Hedge in Years
Daily
Collateral
Posting
1 or less
0.15%
More than 1 but not more than 2
0.30%
More than 2 but not more than 3
0.40%
More than 3 but not more than 4
0.60%
More than 4 but not more than 5
0.70%
More than 5 but not more than 6
0.80%
More than 6 but not more than 7
1.00%
More than 7 but not more than 8
1.10%
More than 8 but not more than 9
1.20%
More than 9 but not more than 10
1.30%
More than 10 but not more than 11
1.40%
More than 11 but not more than 12
1.50%
More than 12 but not more than 13
1.60%
More than 13 but not more than 14
1.70%
More than 14 but not more than 15
1.80%
More than 15 but not more than 16
1.90%
More than 16 but not more than 17
2.00%
More than 17 but not more than 18
2.00%
More than 18 but not more than 19
2.00%
More than 19 but not more than 20
2.00%
More than 20 but not more than 21
2.00%
More than 21 but not more than 22
2.00%
More than 22 but not more than 23
2.00%
More than 23 but not more than 24
2.00%
More than 24 but not more than 25
2.00%
More than 25 but not more than 26
2.00%
More than 26 but not more than 27
2.00%
More than 27 but not more than 28
2.00%
More than 28 but not more than 29
2.00%
More than 29
2.00%

 

1


Table 2
 
Moody’s Second Trigger Factor for Interest Rate Swaps with Fixed Notional Amounts
 
 
Remaining
Weighted Average Life
of Hedge in Years
Daily
Collateral
Posting
1 or less
0.50%
More than 1 but not more than 2
1.00%
More than 2 but not more than 3
1.50%
More than 3 but not more than 4
1.90%
More than 4 but not more than 5
2.40%
More than 5 but not more than 6
2.80%
More than 6 but not more than 7
3.20%
More than 7 but not more than 8
3.60%
More than 8 but not more than 9
4.00%
More than 9 but not more than 10
4.40%
More than 10 but not more than 11
4.70%
More than 11 but not more than 12
5.00%
More than 12 but not more than 13
5.40%
More than 13 but not more than 14
5.70%
More than 14 but not more than 15
6.00%
More than 15 but not more than 16
6.30%
More than 16 but not more than 17
6.60%
More than 17 but not more than 18
6.90%
More than 18 but not more than 19
7.20%
More than 19 but not more than 20
7.50%
More than 20 but not more than 21
7.80%
More than 21 but not more than 22
8.00%
More than 22 but not more than 23
8.00%
More than 23 but not more than 24
8.00%
More than 24 but not more than 25
8.00%
More than 25 but not more than 26
8.00%
More than 26 but not more than 27
8.00%
More than 27 but not more than 28
8.00%
More than 28 but not more than 29
8.00%
More than 29
8.00%

 

2

 

 

Table 3
 
Moody’s Second Trigger Factor for Transaction-Specific Hedges
 

Remaining
Weighted Average Life
of Hedge in Years
Daily
Collateral
Posting
1 or less
0.65%
More than 1 but not more than 2
1.30%
More than 2 but not more than 3
1.90%
More than 3 but not more than 4
2.50%
More than 4 but not more than 5
3.10%
More than 5 but not more than 6
3.60%
More than 6 but not more than 7
4.20%
More than 7 but not more than 8
4.70%
More than 8 but not more than 9
5.20%
More than 9 but not more than 10
5.70%
More than 10 but not more than 11
6.10%
More than 11 but not more than 12
6.50%
More than 12 but not more than 13
7.00%
More than 13 but not more than 14
7.40%
More than 14 but not more than 15
7.80%
More than 15 but not more than 16
8.20%
More than 16 but not more than 17
8.60%
More than 17 but not more than 18
9.00%
More than 18 but not more than 19
9.40%
More than 19 but not more than 20
9.70%
More than 20 but not more than 21
10.00%
More than 21 but not more than 22
10.00%
More than 22 but not more than 23
10.00%
More than 23 but not more than 24
10.00%
More than 24 but not more than 25
10.00%
More than 25 but not more than 26
10.00%
More than 26 but not more than 27
10.00%
More than 27 but not more than 28
10.00%
More than 28 but not more than 29
10.00%
More than 29
10.00%

 
 
3

EXHIBIT N

SERVICING CRITERIA TO BE ADDRESSED
IN ASSESSMENT OF COMPLIANCE

(RMBS unless otherwise noted)
 
Where there are multiple checks for criteria the attesting party will identify in their management assertion that they are attesting only to the portion of the distribution chain they are responsible for in the related transaction agreements.

Key: X - obligation

Reg AB Reference
Servicing Criteria
Sub-Servicer
Master Servicer
Trustee
 
General Servicing Considerations
     
1122(d)(1)(i)
Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.
X
X
X
1122(d)(1)(ii)
If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.
To the extent applicable
X
 
1122(d)(1)(iii)
Any requirements in the transaction agreements to maintain a back-up servicer for the Pool Assets are maintained.
     
1122(d)(1)(iv)
A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.
X
X
 
 
Cash Collection and Administration
     
1122(d)(2)(i)
Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.
X
X
X
1122(d)(2)(ii)
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.
X
X
X
1122(d)(2)(iii)
Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.
X
X
 
1122(d)(2)(iv)
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of over collateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.
X
X
X

N-1



1122(d)(2)(v)
Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.
X
X
X
1122(d)(2)(vi)
Unissued checks are safeguarded so as to prevent unauthorized access.
If applicable
   
1122(d)(2)(vii)
Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.
X
X
X
 
Investor Remittances and Reporting
     
1122(d)(3)(i)
Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of Pool Assets serviced by the Sub-Servicer.
 
X
X
1122(d)(3)(ii)
Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.
 
X
X
1122(d)(3)(iii)
Disbursements made to an investor are posted within two business days to the Sub-Servicer’s investor records, or such other number of days specified in the transaction agreements.
 
X
X
1122(d)(3)(iv)
Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.
 
X
X
 
Pool Asset Administration
     
1122(d)(4)(i)
Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.
 
X
X
 
N-2

 
1122(d)(4)(ii)
Pool assets and related documents are safeguarded as required by the transaction agreements
 
X
X
1122(d)(4)(iii)
Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.
X
X
X
1122(d)(4)(iv)
Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Sub-Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.
X
   
1122(d)(4)(v)
The Sub-Servicer’s records regarding the pool assets agree with the Sub-Servicer’s records with respect to an obligor’s unpaid principal balance.
X
   
1122(d)(4)(vi)
Changes with respect to the terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.
X
X
 
1122(d)(4)(vii)
Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.
X
X
 
1122(d)(4)(viii)
Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).
X
   
1122(d)(4)(ix)
Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.
X
X
 
1122(d)(4)(x)
Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements.
X
   
 
N-3

 
1122(d)(4)(xi)
Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the Sub-Servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.
X
   
1122(d)(4)(xii)
Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Sub-Servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.
X
   
1122(d)(4)(xiii)
Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the Sub-Servicer, or such other number of days specified in the transaction agreements.
X
   
1122(d)(4)(xiv)
Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.
X
X
 
1122(d)(4)(xv)
Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.
 
X
X


N-4



EXHIBIT O

FORM 10-D, FORM 8-K AND FORM 10-K
REPORTING RESPONSIBILITY
 
As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the Trustee pursuant to Section 3.25. If the Trustee is indicated below as to any item, then the Trustee is primarily responsible for obtaining that information.

Under Item 1 of Form 10-D: a) items marked “4.02 statement” are required to be included in the periodic Distribution Date statement under Section 4.02, provided by the Trustee based on information received from the Master Servicer; and b) items marked “Form 10-D report” are required to be in the Form 10-D report but not the 4.02 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.

Form
Item
Description
Responsible Party
10-D
Must be filed within 15 days of the Distribution Date.
1
Distribution and Pool Performance Information
 
Item 1121(a) - Distribution and Pool Performance Information
 
(1) Any applicable record dates, accrual dates, determination dates for calculating distributions and actual distribution dates for the distribution period.
4.02 statement
(2) Cash flows received and the sources thereof for distributions, fees and expenses.
4.02 statement
(3) Calculated amounts and distribution of the flow of funds for the period itemized by type and priority of payment, including:
4.02 statement
(i) Fees or expenses accrued and paid, with an identification of the general purpose of such fees and the party receiving such fees or expenses.
4.02 statement
(ii) Payments accrued or paid with respect to enhancement or other support identified in Item 1114 of Regulation AB (such as insurance premiums or other enhancement maintenance fees), with an identification of the general purpose of such payments and the party receiving such payments.
4.02 statement
(iii) Principal, interest and other distributions accrued and paid on the asset-backed securities by type and by class or series and any principal or interest shortfalls or carryovers.
4.02 statement
(iv) The amount of excess cash flow or excess spread and the disposition of excess cash flow.
4.02 statement
(4) Beginning and ending principal balances of the asset-backed securities.
4.02 statement
(5) Interest rates applicable to the pool assets and the asset-backed securities, as applicable. Consider providing interest rate information for pool assets in appropriate distributional groups or incremental ranges.
4.02 statement
(6) Beginning and ending balances of transaction accounts, such as reserve accounts, and material account activity during the period.
4.02 statement
(7) Any amounts drawn on any credit enhancement or other support identified in Item 1114 of Regulation AB, as applicable, and the amount of coverage remaining under any such enhancement, if known and applicable.
4.02 statement
(8) Number and amount of pool assets at the beginning and ending of each period, and updated pool composition information, such as weighted average coupon, weighted average life, weighted average remaining term, pool factors and prepayment amounts.
4.02 statement
 
Updated pool composition information fields to be as specified by Depositor from time to time
(9) Delinquency and loss information for the period.
 
In addition, describe any material changes to the information specified in Item 1100(b)(5) of Regulation AB regarding the pool assets.
4.02 statement.
 
 
Form 10-D report: Depositor
(10) Information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements.
4.02 statement
(11) Any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time.
Form 10-D report; Sub-Servicer
(12) Material breaches of pool asset representations or warranties or transaction covenants.
Form 10-D report: Sub-Servicer
(13) Information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met.
4.02 statement
(14) Information regarding any new issuance of asset-backed securities backed by the same asset pool,
[information regarding] any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
Disclose any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures, as applicable, used to originate, acquire or select the new pool assets.
Form 10-D report: Depositor
 
Form 10-D report: Depositor
 
 
 
 
Form 10-D report: Depositor
Item 1121(b) - Pre-Funding or Revolving Period Information
Updated pool information as required under Item 1121(b).
Depositor

O-1



 
2
Legal Proceedings
 
Item 1117 - Legal proceedings pending against the following entities, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities:
Seller
Depositor
Trustee
Trustee
Issuing entity
Master Servicer
Originator
 
Seller
Depositor
Trustee
Trustee
Depositor
Master Servicer
Originator
 
 
3
Sales of Securities and Use of Proceeds
 
Information from Item 2(a) of Part II of Form 10-Q:
 
With respect to any sale of securities by the sponsor, depositor or issuing entity, that are backed by the same asset pool or are otherwise issued by the issuing entity, whether or not registered, provide the sales and use of proceeds information in Item 701 of Regulation S-K. Pricing information can be omitted if securities were not registered.
 
 
 
Depositor
4
Defaults Upon Senior Securities
 
Information from Item 3 of Part II of Form 10-Q:
 
Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice)
 
 
 
N/A
5
Submission of Matters to a Vote of Security Holders
 
Information from Item 4 of Part II of Form 10-Q
Trustee
6
Significant Obligors of Pool Assets
 
Item 1112(b) - Significant Obligor Financial Information*
N/A
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.
 
7
Significant Enhancement Provider Information
 
Item 1114(b)(2) - Credit Enhancement Provider Financial Information*
Determining applicable disclosure threshold
Obtaining required financial information or effecting incorporation by reference
 
N/A
N/A
Item 1115(b) - Derivative Counterparty Financial Information*
Determining current maximum probable exposure
Determining current significance percentage
Obtaining required financial information or effecting incorporation by reference
Depositor
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.
 
8
Other Information
 
Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported
The Responsible Party for the applicable Form 8-K item as indicated below
9
Exhibits
 
Distribution report
Trustee
Exhibits required by Item 601 of Regulation S-K, such as material agreements
Depositor
8-K
Must be filed within four business days of an event reportable on Form 8-K.
1.01
Entry into a Material Definitive Agreement
 
Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party.
Examples: servicing agreement, custodial agreement.
Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus
Depositor

O-2



 
1.02
Termination of a Material Definitive Agreement
 
Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party.
Examples: servicing agreement, custodial agreement.
Depositor
1.03
Bankruptcy or Receivership
 
Disclosure is required regarding the bankruptcy or receivership, if known to the Depositor, Sub-Servicer or Trustee, with respect to any of the following:
Sponsor (Seller), Depositor, Sub-Servicer, Trustee, Swap Provider, Custodian
Depositor/Sub-Servicer
2.04
Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
 
Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.
Disclosure will be made of events other than waterfall triggers which are disclosed in the 4.02 statement
N/A
3.03
Material Modification to Rights of Security Holders
 
Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement
Party requesting material modification
5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
 
Disclosure is required of any amendment “to the governing documents of the issuing entity”
Depositor
5.06
Change in Shell Company Status
 
[Not applicable to ABS issuers]
Depositor
6.01
ABS Informational and Computational Material
 
[Not included in reports to be filed under Section 3.25]
Depositor
6.02
Change of Master Servicer or Trustee
 
Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other servicer servicing 10% or more of pool assets at time of report, other material servicers, certificate administrator or trustee. Reg AB disclosure about any new servicer or trustee is also required.
Trustee or Master Servicer
6.03
Change in Credit Enhancement or Other External Support
 
Covers termination of any enhancement in manner other than by its terms, the addition of an enhancement, or a material change in the enhancement provided. Applies to external credit enhancements as well as derivatives. Reg AB disclosure about any new enhancement provider is also required.
Depositor
6.04
Failure to Make a Required Distribution
Trustee
6.05
Securities Act Updating Disclosure
 
If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.
Depositor
If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.
Depositor
7.01
Regulation FD Disclosure
Depositor
8.01
Other Events
 
Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to security holders.
Depositor
9.01
Financial Statements and Exhibits
The Responsible Party applicable to reportable event
10-K
Must be filed within 90 days of the fiscal year end for the registrant.
9B
Other Information
 
Disclose any information required to be reported on Form 8-K during the fourth quarter covered by the Form 10-K but not reported
The Responsible Party for the applicable Form 8-K item as indicated above
15
Exhibits and Financial Statement Schedules
 
Item 1112(b) - Significant Obligor Financial Information
N/A
Item 1114(b)(2) - Credit Enhancement Provider Financial Information
Determining applicable disclosure threshold
Obtaining required financial information or effecting incorporation by reference
 
N/A
 
N/A
Item 1115(b) - Derivative Counterparty Financial Information
Determining current maximum probable exposure
Determining current significance percentage
Obtaining required financial information or effecting incorporation by reference
Depositor
Item 1117 - Legal proceedings pending against the following entities, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities:
 
Seller
Depositor
Trustee
Issuing entity
Master Servicer
Originator
Seller
Depositor
Trustee
Issuing entity
Master Servicer
Originator
Item 1119 - Affiliations and relationships between the following entities, or their respective affiliates, that are material to Certificateholders:
Seller
Depositor
Trustee
 
 
 
 
Issuing entity
Master Servicer
Originator
Credit Enhancer/Support Provider, if any
Significant Obligor, if any
 
 
Seller
Depositor
Trustee (only with respect to affiliations with the sponsor, depositor or issuing entity)
Issuing entity
Master Servicer
Originator
Depositor
Depositor
Item 1122 - Assessment of Compliance with Servicing Criteria
Each Party participating in the servicing function
Item 1123 -Servicer Compliance Statement
Master Servicer

 

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EXHIBIT P
 
[RESERVED]
 


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EXHIBIT Q
 
FORM OF COUNTRYWIDE SERVICING AGREEMENT
 
(Provided Upon Request)
 


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EXECUTION COPY


EXHIBIT R

FORM OF ITEM 1115 AGREEMENT
 
Item 1115 Agreement (this “Agreement”), dated as of April 30, 2007, among Impac Funding Corporation (“Sponsor”), Impac Secured Assets Corp. (“Depositor”) and Lehman Brothers Special Financing Inc. (the “Derivative Provider”).
 
RECITALS
 
WHEREAS, Depositor has filed a registration statement on Form S-3 (each, a “Registration Statement”) with the U.S. Securities and Exchange Commission (the “Commission”) for purposes of offering mortgage-backed or asset-backed notes and/or certificates (the “Securities”) through one or more special purpose vehicles (each, an “Issuing Entity”);
 
WHEREAS, from time to time, on or prior to the closing date of a securitization (the “Closing Date”) pursuant to which Securities are offered and for which the Derivative Provider has provided a letter in the form of Exhibit One to Addendum A (each, a “Securitization”), the Derivative Provider enters into certain derivative agreements with the Issuing Entity (or a trustee or securities or swap administrator or other person acting in a similar capacity in connection with such Securitization (each, an “Administrator”)), or the Derivative Provider enters into certain derivative agreements with the Sponsor or an affiliate of the Sponsor and such derivative agreements are assigned to the Issuing Entity or an Administrator (each such agreement entered into from and after the date hereof, in either case, a “Derivative Agreement”);
 
WHEREAS, the Derivative Provider agrees and acknowledges that the Sponsor and the Depositor are required under Regulation AB (as defined herein) to disclose certain financial data and/or financial statements with respect to the Derivative Provider, depending on the applicable “significance percentage” for each Derivative Agreement as calculated from time to time in accordance with Item 1115 of Regulation AB;
 
WHEREAS, the Sponsor, on behalf of itself and each Issuing Entity through which it effects Securitizations, the Depositor and the Derivative Provider, desire to set forth certain rights and obligations with regard to financial data and/or financial statements which the Sponsor and the Depositor are required to disclose in accordance with Regulation AB (as defined herein) and certain related matters.
 
NOW, THEREFORE, in consideration of the mutual agreements set forth herein and for other good and valuable consideration the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:
 
Section 1.    Definitions.
 
Additional Termination Event: With respect to any Derivative Agreement, as defined in the related Master Agreement.
 

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Affected Party: With respect to any Derivative Agreement, as defined in the related Master Agreement.
 
Business Day: Any day other than a Saturday, a Sunday or any day on which banking institutions in the states where the parties are located are authorized or obligated by law, executive order or governmental decree to be closed.
 
Company Information: As defined in Addendum A.
 
Company Financial Information: With respect to each Securitization, the financial data described in Item 1115(b)(1) of Regulation AB or the financial statements described in Item 1115(b)(2) of Regulation AB, in either case with respect to the Derivative Provider and any affiliated entities providing derivative instruments to the related Issuing Entity and/or Administrator; provided that the Derivative Provider shall not be required to calculate the “significance percentage” for purposes of this Agreement.
 
GAAP: As defined in Section 3(c).
 
Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.
 
Exchange Act Reports: With respect to an Issuing Entity, all Distribution Reports on Form 10-D, Current Reports on Form 8-K and Annual Reports on Form 10-K and any amendments thereto, required to be filed with respect to such Issuing Entity pursuant to the Exchange Act.
 
Free Writing Prospectus: With respect to each Securitization, the free writing prospectus or prospectuses prepared in connection with the public offering and sale of the related Securities and used to price such Securities and referenced in Exhibit One to Addendum A.
 
Master Agreement: With respect to any Derivative Agreement, the ISDA Master Agreement referenced in such Derivative Agreement, together with any Schedule, Credit Support Annex and Confirmations forming a part thereof or incorporated therein by reference, or, if no such ISDA Master Agreement exists, the ISDA Master Agreement deemed to apply to such Derivative Agreement pursuant to its terms, together with any Schedule, Credit Support Annex and Confirmations deemed to form a part thereof or to be incorporated therein by reference.
 
Prospectus Supplement: With respect to each Securitization, the prospectus supplement prepared in connection with the public offering and sale of the related Securities and referenced in Exhibit One to Addendum A.
 
Regulation AB: Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.
 
Securities Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
 

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Section 2.
Information to be Provided by the Derivative Provider.
 
 
(a)
Prior to printing the Free Writing Prospectus and/or Prospectus Supplement relating to each Securitization, the Derivative Provider, at its own expense, shall:
 
 
(i)
provide to the Depositor such information as is reasonably requested in writing (via fax or in electronic form or such other format as agreed upon by the Depositor and the Derivative Provider) by the Depositor for the purpose of compliance with Item 1115(a)(1) of Regulation AB or the Securities Act in respect of such Securitization, which information shall include, at a minimum:
 
 
(A)
the Derivative Provider’s legal name (and any d/b/a),
 
 
(B)
the organizational form of the Derivative Provider,
 
 
(C)
a description of the general character of the business of the Derivative Provider,
 
 
(D)
a description of any affiliation (as set forth in Item 1119(a)) between the Derivative Provider and any of the following parties:
 
the Sponsor (or any other sponsor identified to the Derivative Provider by the Sponsor or the Depositor),
 
the Depositor,
 
the Issuing Entity,
 
any servicer (or other person acting in a similar capacity) identified to the Derivative Provider by the Sponsor or the Depositor,
 
any trustee (or other person acting in a similar capacity) identified to the Derivative Provider by the Sponsor or the Depositor,
 
any originator identified to the Derivative Provider by the Sponsor or the Depositor,
 
any enhancement or support provider identified to the Derivative Provider by the Sponsor or the Depositor, and
 
any other material Securitization party identified to the Derivative Provider by the Sponsor;
 
 
(E)
information relating to any legal or governmental proceedings; and
 
 
(F)
any other information reasonably identified in writing (via fax or in electronic form or such other format as agreed upon by the Depositor and the Derivative Provider) to the Derivative Provider that is material or otherwise required for the purpose of compliance (as determined by the Depositor in its sole discretion) with the Securities Act; and
 

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(ii)
if reasonably requested by the Depositor for the purpose of compliance with Item 1115(b) of Regulation AB with respect to such Securitization, provide to the Depositor the Company Financial Information described in Item 1115(b)(1) of Regulation AB or Item 1115(b)(2) of Regulation AB (as specified by the Depositor).
 
 
(b)
Following the Closing Date with respect to each Securitization and only for so long as the Depositor is required to file Exchange Act Reports in respect of the related Issuing Entity:
 
 
(i)
the Derivative Provider, at its own expense, shall no later than the 25th calendar day of each month, notify the Depositor in writing of any affiliations that develop following the Closing Date between the Derivative Provider and any of the parties specified in Section 2(a)(i)(D) (and any other parties identified in writing by the Depositor), and provide to the Depositor a description of such affiliations;
 
 
(ii)
if, on any Business Day the Depositor provides written notice to the Derivative Provider that the “significance percentage” for any Derivative Agreement relating to such Securitization (calculated separately or in the aggregate with other Derivative Agreements for such Securitization, such aggregation as determined by the Depositor in its sole discretion), is (x) 10% or more (but less than 20%) or (y) 20% or more, in each case based on a reasonable good-faith determination by the Depositor of the “significance percentage” in accordance with Item 1115 of Regulation AB (the providing of such notice, a “Derivative Disclosure Event”), the Derivative Provider, at its own expense, shall within ten (10) calendar days following receipt of such notice:
 
 
(A)
provide to the Depositor the Company Financial Information described in (x) Item 1115(b)(1) of Regulation AB or (y) Item 1115(b)(2) of Regulation AB, respectively,
 
 
(B)
with respect to each Derivative Agreement entered into in connection with such Securitization, cause another entity to replace the Derivative Provider as a party to such Derivative Agreement by way of a Permitted Transfer (as defined in such Derivative Agreement) or, if such replacement cannot be effected, to enter into a replacement derivative agreement on terms substantially identical to such Derivative Agreement (as determined by the Depositor in its sole discretion), which entity (1) meets or exceeds (or a guarantor, as applicable, for such entity meets or exceeds) any rating agency criteria set forth in, or otherwise applicable to, such Derivative Agreement (as determined by the Depositor in its sole discretion), (2) has entered into an agreement with Sponsor and Depositor substantially in the form of this Agreement, (3) has agreed to comply with the immediately preceding clause (A) and Section 2(b)(iii), and (4) has been approved by the Depositor (which approval shall not be unreasonably withheld),
 

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(C)
only if sufficient to satisfy the requirements of Item 1115 of Regulation AB that are applicable to the Derivative Provider by the Depositor in its sole discretion, obtain a guaranty of the Derivative Provider’s obligations under each Derivative Agreement entered into in connection with such Securitization from an affiliate of the Derivative Provider, which affiliate (1) meets or exceeds any rating agency criteria set forth in, or otherwise applicable to, such Derivative Agreement (as determined by the Depositor in its sole discretion), (2) has entered into an agreement with the Sponsor and Depositor substantially in the form of this Agreement, (3) has agreed to comply with the immediately preceding clause (A) and Section 2(b)(iii), and (4) has been approved by the Depositor (which approval shall not be unreasonably withheld), or
 
 
(D)
only if sufficient to satisfy the requirements of Item 1115 of Regulation AB that are applicable to the Derivative Provider as determined by the Depositor in its sole discretion, post collateral in an amount sufficient to reduce the “significance percentage” for purposes of Item 1115 of Regulation AB with respect to any Derivative Agreement relating to such Securitization, calculated separately or in the aggregate with other Derivative Agreements for such Securitization (1) to 9.50% if the Depositor has notified the Derivative Provider that the “significance percentage” is 10% or more (but less than 20%) or (2) to 19.50% if the Depositor has notified the Derivative Provider that the “significance percentage” is 20% or more; and
 
 
(iii)
for so long (A) as the Depositor is required to file Exchange Act Reports in respect of the related Issuing Entity and (B) the “significance percentage” for any Derivative Agreement relating to such Securitization (calculated separately or in the aggregate with other Derivative Agreements for such Securitization) is (x) 10% or more (but less than 20%) or (y) 20% or more, in each case based on a reasonable good-faith determination by the Depositor of the significance percentage in accordance with Item 1115 of Regulation AB, if the Derivative Provider has provided Company Financial Information to the Depositor pursuant to Section 2(a)(ii) or Section 2(b)(ii), the Derivative Provider, at its own expense, shall within five (5) days of the release of any updated Company Financial Information, provide to the Depositor such updated Company Financial Information.
 

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(c)
The Derivative Provider shall provide all Company Financial Information provided pursuant to this Section 2 in Microsoft Word® format, Microsoft Excel® format or another format suitable for conversion to the format required for filing by the Depositor with the Commission via the Electronic Data Gathering and Retrieval System (EDGAR) (for avoidance of doubt, Company Financial Information shall not be provided in .pdf format); alternatively, if permitted by Regulation AB (as determined by the Sponsor in its sole discretion), the Derivative Provider may provide such Company Financial Information by providing to the Depositor written consent to incorporate by reference in Exchange Act Reports of the Depositor such Company Financial Information from reports filed by the Derivative Provider pursuant to the Exchange Act. In addition, the Derivative Provider shall also provide Company Financial Information provided pursuant to Section 2(a)(ii) in a format appropriate for use in the related Free Writing Prospectus and Prospectus Supplement. If any Company Financial Information provided pursuant to this Section 2 has been audited, the Derivative Provider shall cause its outside accounting firm to provide to the Depositor such accounting firm’s written consent to the filing or incorporation by reference in the Exchange Act Reports of the Depositor of such accounting firm’s report relating to its audits of such Company Financial Information. If any Company Financial Information provided pursuant to this Section 2 has not been audited, the Derivative Provider shall provide to the Depositor an appropriate agreed-upon procedures letter from the Derivative Provider’s outside accounting firm in respect of such Company Financial Information.
 
Section 3.
Representations and Warranties of the Derivative Provider.
 
The Derivative Provider represents and warrants to the Depositor, as of the date on which the Derivative Provider first provides Company Financial Information to the Depositor under Section 2(a)(ii), Section 2(b)(ii) or Section 2(b)(iii), that, except as disclosed in writing to the Depositor prior to such date:
 
 
(a)
the outside accounting firm that certifies the financial statements and supporting schedules included in Company Financial Information, or which provides a procedures letter with respect to such Company Financial Information, (as applicable) is an independent registered public accounting firm as required by the Securities Act;
 
 
(b)
the selected financial data and summary financial information included in the Company Financial Information present fairly the information shown therein and have been compiled on a basis consistent with that of the audited financial statements of the Derivative Provider;
 
 
(c)
the financial statements included in the Company Financial Information present fairly the consolidated financial position of the Derivative Provider (or the entity that consolidates the Derivative Provider) and its consolidated subsidiaries as of the dates indicated and the consolidated results of their operations and cash flows for the periods specified; except as otherwise stated in the Company Financial Information, such financial statements have been prepared in conformity with United States generally accepted accounting principles (“GAAP”) applied on a consistent basis; and the supporting schedules included in the Company Financial Information present fairly in accordance with GAAP the information required to be stated therein; and
 

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(d)
the Company Financial Information and other Company Information included in any Free Writing Prospectus or Prospectus Supplement or referenced via a website link or incorporated by reference in the Registration Statement (including through filing on an Exchange Act Report), at the time they were or hereafter are filed with the Commission, complied in all material respects with the requirements of Item 1115(b) of Regulation AB (in the case of the Company Financial Information), and did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
 
Section 4.
Third Party Beneficiaries.
 
 
(a)
The Derivative Provider agrees that the terms of this Agreement shall be incorporated by reference into any Derivative Agreement as it relates to such Derivative Agreement so that each Issuing Entity or Administrator that is a party to a Derivative Agreement shall be an express third party beneficiary of this Agreement to the extent that it relates to such Derivative Agreement.
 
Section 5.
Indemnification.
 
 
(a)
The Derivative Provider indemnification set forth in Addendum A hereto is incorporated by reference herein.
 
 
(b)
In connection with each Securitization that the Derivative Provider participates in, on or prior to the Closing Date of such Securitization, the Derivative Provider shall provide to the Depositor a letter signed by an authorized representative of the Derivative Provider, substantially in the form attached hereto as Exhibit One to Addendum A, incorporating into this Agreement and making a part of the indemnification provisions of this Agreement the Company Information provided by it for inclusion in the Free Writing Prospectus and the Prospectus Supplement relating to such Securitization, as of the date of such Free Writing Prospectus or Prospectus Supplement, as applicable.
 
Section 6.
Additional Termination Events.
 
 
(a)
(i) Any breach by the Derivative Provider of a representation or warranty set forth in Section 3 to the extent made as of a date prior to a Closing Date, which is not cured by such Closing Date (or, in the case of information required under Section 2(a), the date of printing of the Free Writing Prospectus or Prospectus Supplement, as applicable), or (ii) any breach by the Derivative Provider of a representation or warranty pursuant to Section 3 to the extent made as of a date subsequent to such Closing Date, or (iii) any failure by the Derivative Provider to comply with the requirements of Section 2(a), Section 2(b)(ii) or so much of Section 2(b)(iii) as relates to Section 2(a) or 2(b)(ii), in each case with respect to any Securitization, shall immediately and automatically, without notice, constitute an Additional Termination Event under each Derivative Agreement entered into in connection with such Securitization, with respect to which the Derivative Provider shall be the sole Affected Party.
 

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(b)
In the event that a replacement entity or replacement derivative agreement has been secured in accordance with Section 2(b)(ii)(B), or a guarantor has been secured in accordance with Section 2(b)(ii)(C), the Derivative Provider shall promptly reimburse the Issuing Entity for all reasonable incidental expenses incurred by the Issuing Entity in connection with the replacement of the Derivative Provider or Derivative Agreement or addition of such guarantor. The provisions of this paragraph shall not limit whatever rights the Issuing Entity may have under other provisions of this Agreement or otherwise, whether in equity or at law, such as an action for damages, specific performance or injunctive relief.
 
Section 7.
Miscellaneous.
 
 
(a)
Construction. Throughout this Agreement, as the context requires, (i) the singular tense and number includes the plural, and the plural tense and number includes the singular, (ii) the past tense includes the present, and the present tense includes the past, and (iii) references to parties, sections, schedules, and exhibits mean the parties, sections, schedules, and exhibits of and to this Agreement. The section headings in this Agreement are inserted only as a matter of convenience, and in no way define, limit, extend, or interpret the scope of this Agreement or of any particular section.
 
 
(b)
Assignment. No party to this Agreement may assign its rights under this Agreement without the prior written consent of the other parties hereto. Subject to the foregoing, this Agreement shall be binding on and inure to the benefit of the parties and their respective successors and permitted assigns.
 
 
(c)
Notices. All notices and other communications hereunder will be in writing (including by facsimile) and effective only upon receipt, and, if sent to the Derivative Provider will be mailed or delivered to Lehman Brothers Inc., 745 Seventh Ave., 19th floor, New York, New York 10019, Fax: (646) 758-3689, Attn: Renilde Zug, if sent to the Sponsor will be mailed or delivered to Impac Funding Corporation, 19500 Jamboree Road, Irvine, California 92612, Fax: (949) 221-4856, Attn: Nancy Pollard, and if sent to the Depositor will be mailed or delivered to Impac Secured Assets Corp., 19500 Jamboree Road, Irvine, California 92612, Fax: (949) 475-3950, Attn: Gretchen Verdugo.
 
 
(d)
Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without regard to the conflict of laws principles thereof (other than Sections 5-1401 and 5-1402 of the New York General Obligations Law).
 

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(e)
Additional Documents. Each party hereto agrees to execute any and all further documents and writings and to perform such other actions which may be or become necessary or expedient to effectuate and carry out this Agreement.
 
 
(f)
Suspension of Obligations. The Derivative Provider’s obligations under this Agreement with respect to any Securitization, including, without limitation, its obligations to provide Company Information, Company Financial Information or any other information required by Regulation AB, obtain a guaranty of it’s obligations, post collateral and secure another entity to replace the Derivative Provider as a party under the applicable Derivative Agreement, shall be terminated beginning in any such year in which the Derivative Provider receives notification from the Administrator that the trust fund’s obligation to file periodic reports under the Exchange Act with respect to such Securitization has been terminated; provided however, the indemnification obligations of the Derivative Provider set forth in this Agreement shall survive the suspension of the Derivative Provider’s other obligations under this Agreement only to the extent of any failure of the Derivative Provider to comply with this Agreement that occurred prior to such suspension of the Exchange Act reporting. This obligation with respect to any Securitization shall continue to be terminated unless the Administrator or the Depositor notify the Derivative Provider that the trust fund’s obligations to file reports under the Exchange Act with respect to such Securitization has resumed.
 
 
(g)
Amendment and Waiver. This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. No waiver of any provision of this Agreement or of any rights or obligations of any party under this Agreement shall be effective unless in writing and signed by the party or parties waiving compliance, and shall be effective only in the specific instance and for the specific purpose stated in that writing.
 
 
(h)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, all of which together shall constitute one and the same instrument.
 
 
(i)
Severability. Any provision hereof which is prohibited or unenforceable shall be ineffective only to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof.
 
 
(j)
Integration. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth or referred to herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to its subject matter.
 

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IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
 
IMPAC FUNDING CORPORATION
 
 
By: 
Name:
Title:  
 
IMPAC SECURED ASSETS CORP.
 
By: 
Name:
Title:  
 
LEHMAN BROTHERS SPECIAL FINANCING INC.
 
By: 
Name:
Title:  
 

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Addendum A
 
(a) The Derivative Provider agrees to indemnify and hold harmless the Depositor and the Sponsor and each of its directors and officers and affiliates and each person, if any, who controls the Depositor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against (I) any and all actual losses, claims, expenses (including the reasonable fees and expenses of legal counsel), damages or liabilities to which the Depositor or the Sponsor or any such director, officer or controlling person may become subject, under the Securities Act or otherwise, insofar as such losses, claims, expenses, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact or omission of a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading in the information provided pursuant to Section 2(a) of this Agreement by or on behalf of the Derivative Provider that is included in a Free Writing Prospectus and/or Prospectus Supplement related to the Securitization and identified in Exhibit One hereto (collectively, the “Company Information”) (as of the respective dates of such Free Writing Prospectus and Prospectus Supplement) or any Company Financial Information or any other information required to be provided by the Derivative Provider pursuant to Section 2 of this Agreement, or (II) for any and all actual losses, claims, expenses, damages or liabilities incurred by the Depositor or the Sponsor or any such director, officer or controlling person in connection with the failure of the Derivative Provider to comply with this Agreement; and will reimburse any such reasonable legal or other expenses actually incurred by the Depositor or the Sponsor or any such director, officer or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action. This indemnity agreement will be in addition to any liability which the Derivative Provider may otherwise have.
 
(b) The Depositor agrees to indemnify and hold harmless the Derivative Provider, each of its directors, each of its officers and each person, if any, who controls the Derivative Provider within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all actual losses, claims, expenses, damages or liabilities to which the Derivative Provider or any such director, officer or controlling person may become subject, under the Securities Act or otherwise, insofar as such losses, claims, expenses, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Free Writing Prospectus and/or Prospectus Supplement related to the Securitization other than with respect to the Company Information, or omission to state therein a material fact required to be stated therein or necessary to make the statements made therein not misleading; and will reimburse such reasonable legal or other expenses actually incurred by the Derivative Provider or any such director, officer or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action. This indemnity agreement will be in addition to any liability which the Depositor may otherwise have.
 
(c) Promptly after receipt by an indemnified party under this Agreement of notice of the commencement of any action described therein, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Agreement, notify the indemnifying party of the commencement thereof, but the omission so to notify the indemnifying party will not relieve the indemnifying party from any liability that it may have to any indemnified party (a) under this Agreement except to the extent that the omission to notify the indemnifying party with respect to this Agreement materially adversely affects the indemnifying party's ability to perform under this Agreement or (b) otherwise than under this Agreement. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish to do so, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party under this Agreement, such indemnifying party shall not be liable for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation.
 

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Any indemnified party shall have the right to employ separate counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless: (i) the employment thereof has been specifically authorized by the indemnifying party in writing; (ii) such indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying party and in the reasonable judgment of such counsel it is advisable for such indemnified party to employ separate counsel; (iii) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (iv) the indemnifying party has failed to assume the defense of such action and employ counsel reasonably satisfactory to the indemnified party, in which case, if such indemnified party notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such action on behalf of such indemnified party, it being understood, however, the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to local counsel) at any time for all such indemnified parties, which firm shall be designated in writing by the indemnified party.
 
Each indemnified party, as a condition of the indemnity agreements contained in clause (a) and clause (b), shall use its best efforts to cooperate with the indemnifying party in the defense of any such action or claim. No indemnifying party shall be liable for any settlement of any such action or claim effected without its written consent (which consent shall not be unreasonably withheld), but if settled with its written consent or if there be a final judgment for the plaintiff in any such action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability (to the extent set forth in clause (a) or clause (b) as applicable) by reason of such settlement or judgment.
 

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(d) If the indemnification provided for in clause (a) or clause (b) is unavailable or insufficient to hold harmless an indemnified party under clause (a) or (b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, expenses, damages or liabilities referred to in clause (a) or (b) above (i) in such proportion as is appropriate to reflect the relative benefits received by the Depositor on the one hand and the Derivative Provider on the other from the offering of the Offered Certificates and the Private Certificates or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Depositor on the one hand and the Derivative Provider on the other in connection with the statements or omissions which resulted in such losses, claims, expenses, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by the Depositor on the one hand and the Derivative Provider on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Depositor bear to the total fees received by the Derivative Provider. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Depositor or by the Derivative Provider and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, expenses, damages or liabilities referred to above in the first sentence of this clause (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any action or claim, except where the indemnified party is required to bear such expenses, which is the subject of this clause (d). No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.
 


R-13

 
EXECUTION COPY
Exhibit One to Addendum A
 
IMPAC SECURED ASSETS CORP.
 
IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3
 
Letter to the Depositor relating to the Company Information
Pursuant to Item 1115 Agreement
 
April 30, 2007                                
 
Impac Secured Assets Corp.
19500 Jamboree Road
Irvine, CA 92612
 
Ladies and Gentleman:
 
In accordance with Section 5(b) of the Item 1115 Agreement (the “Agreement”) dated as of April 30, 2007 IMPAC FUNDING CORPORATION as sponsor, IMPAC SECURED ASSETS CORP. the “Depositor”), and LEHMAN BROTHERS SPECIAL FINANCING INC., (the “Derivative Provider”), the information provided by the Derivative Provider contained in the Prospectus Supplement, dated April 27, 2007, including any supplement or amendment thereto, under the captions “The Interest Rate Swap Agreement and Cap Contracts - The Swap Provider”, attached hereto as Exhibit A (the “Company Information”) in connection with IMPAC SECURED ASSETS CORP., MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-3 is hereby incorporated into the Agreement and made a part of the indemnification provisions of the Agreement as of the date of the related Prospectus Supplement. The Company Information is the only information furnished by the Derivative Provider to the Depositor for inclusion in the Prospectus Supplement. The indemnification provisions of the Agreement shall be in full force and effect as it relates to the Company Information as they relate to any other information provided by the Derivative Provider pursuant to the Agreement.
 
[SIGNATURE PAGE FOLLOWS]
 

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Very truly yours,
 
LEHMAN BROTHERS SPECIAL FINANCING INC.
 

 
By: ________________________
 
Name:
 
Title:
 

 

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EXHIBIT A
 
 
 
 
 
 
 
 
 
 
R-16

 

EXHIBIT S
 
FORM OF SUBSEQUENT TRANSFER INSTRUMENT
 
Pursuant to this Subsequent Transfer Instrument, dated [_________] (the “Instrument”), between Impac Secured Assets Corp. as seller (the “Company”), and Deutsche Bank National Trust Company as Trustee and purchaser (the “Trustee”), and pursuant to the Pooling and Servicing Agreement, dated as of [_________] (the “Agreement”), among Impac Secured Assets Corp., Impac Funding Corporation and the Trustee, the Company and the Trustee agree to the sale by the Company and the purchase by the Trustee of the Subsequent Mortgage Loans on the attached Schedule 1 of Mortgage Loans (the “Subsequent Mortgage Loans”).
 
Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Agreement.
 
Section 1. Conveyance of Subsequent Mortgage Loans; Acceptance of Mortgage Loans by the Trustee.
 
(a) The Company does hereby sell, transfer, assign, set over and convey to the Trustee without recourse, all of its right, title and interest in and to the Subsequent Mortgage Loans, including all amounts due on the Subsequent Mortgage Loans after the related Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage Loans to be delivered pursuant to Section 2.07 of the Agreement; provided, however that the Company reserves and retains all right, title and interest in and to amounts due on the Subsequent Mortgage Loans on or prior to the related Subsequent Cut-off Date. The Company, contemporaneously with the delivery of this Instrument, has delivered or caused to be delivered to the Trustee each item set forth in Section 2.02 of the Agreement. The transfer to the Trustee by the Company of the Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Company, the Master Servicer, the Trustee, the Certificateholders and the Certificate Insurer to constitute and to be treated as a sale by the Company to the Trust Fund.
 
(b) The Company, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey to the Trustee without recourse for the benefit of the Certificate holders and the Certificate Insurer all the right, title and interest of the Company, in, to and under the Subsequent Mortgage Loan Purchase Agreement, dated May 18, 2007, between the Company, as purchaser and Impac Funding Corporation, as seller (the “Subsequent Mortgage Loan Purchase Agreement”).
 
(c) The Trustee acknowledges receipt of, subject to the exceptions the applicable Custodian notes pursuant to the procedures described in Section 2.02 of the Agreement, the documents (or certified copies thereof) referred to in Section 2.1(b) of the Subsequent Mortgage Loan Purchase Agreement, and declares that it holds and will continue to hold those documents and any amendments, replacements or supplements thereto and all other assets as Trustee in trust for the use and benefit of all present and future Holders of the Certificates and the Certificate Insurer.
S-1

 
(d) Additional terms of the sale are set forth on Attachment A hereto.
 
Section 2. Representations and Warranties; Conditions Precedent.
 
(a) The Company hereby confirms that each of the conditions and the representations and warranties set forth in Section 2.07 of the Agreement are satisfied as of the date hereof.
 
(b) All terms and conditions of the Agreement are hereby ratified and confirmed; provided, however, that in the event of any conflict, the provisions of this Instrument shall control over the conflicting provisions of the Agreement.
 
Section 3. Recordation of Instrument.
 
To the extent permitted by applicable law, this Instrument, or a memorandum thereof if permitted under applicable law, is subject to recordation in all appropriate public offices for real property records in all of the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by the Master Servicer at the Certificateholders’ expense on direction of the related Certificateholders, but only when accompanied by an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests of the Certificateholders or is necessary for the administration or servicing of the Subsequent Mortgage Loans.
 
Section 4. Governing Law.
 
This Instrument shall be construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without giving effect to principles of conflicts of law.
 
Section 5. Counterparts.
 
This Instrument may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed to be an original; such counterparts, together, shall constitute one and the same instrument.
 
Section 6. Successors and Assigns.
 
This Instrument shall inure to the benefit of and be binding upon the Company and the Trustee and their respective successors and assigns.
 

S-2


IMPAC SECURED ASSETS CORP.,
  as Seller


By: __________________________
Name: Gretchen Verdugo
Title: EVP, CFO
 
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
   as trustee under the Pooling and Servicing Agreement relating to Impac Secured Assets Corp. Mortgage Pass-Through Certificates, Series 2007-3

By: ___________________________
Name:
Title: 
 


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EXHIBIT T
 
FORM OF ADDITION NOTICE
 
[___________]                
Deutsche Bank National Trust Company
1761 East St. Andrew Place
Santa Ana, California 92705-4934
 
 
RE:
Pooling and Servicing Agreement, dated as of [____________]
   
among Impac Secured Assets Corp., Impac Funding Corporation and
   
Deutsche Bank National Trust Company,
   
Mortgage Pass-Through Certificates, Series 2007-3, Subsequent Transfer

Ladies and Gentlemen:
 
Pursuant to Section 2.07 of the Pooling and Servicing Agreement, the Company has designated Subsequent Mortgage Loans to be transferred to the Trustee on [__________], with an approximate aggregate principal balance of $[______]. Capitalized terms not otherwise defined herein have the meaning set forth in the Pooling and Servicing Agreement.
 
Please acknowledge your receipt of this notice by countersigning the enclosed copy in the space indicated below and returning it to the attention of the undersigned.
 

T-1


Very truly yours,
 
IMPAC SECURED ASSETS CORP.,
 
By: ___________________________________
Name: Gretchen Verdugo
Title: EVP, CFO

T-2


ACKNOWLEDGED AND AGREED:
 
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee under the Pooling and Servicing Agreement
relating to Impac Secured Assets Corp. Mortgage
Pass-Through Certificates, Series 2007-3


By: __________________________________
Name:
 
Title:
 
 
 
 
 
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