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Reference Number: 481992HN/481993HN
                                                                                               Exhibit 10.5
            [GRAPHIC OMITTED][GRAPHIC OMITTED][GRAPHIC OMITTED]

HSBC Bank USA, National Association
    452 Fifth Avenue
    New York, NY  10018
    Fax: (212) 525-5517

Date:                      July 2, 2007

To:                        LaSalle Bank National Association, not in its individual capacity but solely in
                           its capacity as Trustee for the benefit of the RAAC Series 2007-SP2
                           Supplemental Interest Trust

                           135 South LaSalle Street, Suite
                           1511                                                            Chicago, IL
                           60603
                           Attn: Global Securities and Trust Services, RAAC Series 2007-SP2

Attention:                 RAAC Series 2007-SP2 Trust
Telephone no.:             (312) 904-4373
Facsimile no.:             (312) 904-1368

Cc:                        Kimberly Sturm

Our Reference:             Global No. 481992HN/481993HN

Re:      Interest Rate Cap Corridor Transaction

Ladies and Gentlemen:

The purpose of this letter  agreement is to set forth the terms and conditions of the  transaction  entered
into  between  HSBC Bank USA,  National  Association  ("Party A") and RAAC Series  2007-SP2  Trust,  acting
through  LaSalle Bank National  Association,  not in its individual  capacity but solely as Trustee for the
benefit of RAAC Series  2007-SP2 Trust ("Party B") on the Trade Date specified  below (the  "Transaction").
This letter agreement constitutes a "Confirmation" as referred to in the Agreement specified below.

The definitions and provisions  contained in the 2000 ISDA Definitions (the  "Definitions") as published by
the  International  Swaps and Derivatives  Association,  Inc. are incorporated by reference  herein. In the
event of any inconsistency  between the Definitions and this  Confirmation,  this Confirmation will govern.
For purposes of this  Transaction,  any capitalized  and undefined  terms contained  herein (other than the
capitalized  terms the  definitions  of which are  contained  in the  Definitions)  shall have the meanings
ascribed to them in the Pooling  and  Servicing  Agreement  dated as of January 1, 2006 (the  "Pooling  and
Servicing  Agreement")  relating to the RAAC  Series  2007-SP2  Trust  Mortgage  Asset-Backed  Pass-Through
Certificates, Series 2007-SP2, which is hereby incorporated by reference into this Confirmation.

1.       This Confirmation evidences a complete and binding agreement between Party A and Party B as to
         the terms of the Transaction to which this Confirmation relates. This Confirmation, together
         with all other documents referring to the ISDA Form, as defined below, confirming the
         Transaction entered into between us shall supplement, form a part of, and be subject to an
         agreement in the form of the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (the "ISDA
         Form") (as may be amended, modified or supplemented from time to time, the "Agreement") as if we
         had executed an agreement on the Trade Date of the first such Transaction between us in such
         form, with the Schedule thereto specifying only that (a) the governing law is the laws of the
         State of New York and (b) the Termination Currency is U.S. Dollars.  In the event of any
         inconsistency between the terms of this Confirmation and the terms of the Agreement, this
         Confirmation will prevail for the purpose of this Transaction.

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

         Notional Amount:                              With  respect  to  any  Calculation   Period  during
                                                       which  the  Reference   Transaction   has  not  been
                                                       terminated,  the  lesser,  if any, of (A) the amount
                                                       set forth on  Schedule  A  attached  hereto  and (B)
                                                       the outstanding  aggregate  principal balance of the
                                                       Class  A  Certificates   and  Class  M  Certificates
                                                       immediately  prior  to  the  related  Floating  Rate
                                                       Payer  Period  End  Date.  Party  A will  be able to
                                                       access the outstanding  aggregate  principal balance
                                                       of the  Class  A and  Class M  Certificates  via the
                                                       Trustee's              internet              website
                                                       http://www.etrustee.net;  "RAAC SERIES  2007-SP2" as
                                                       the deal. This  information  will be posted at least
                                                       5 Business Days prior to the related Payment Date.

         Trade Date:                                 June 27, 2007

         Effective Date:                             June 25, 2012

         Termination Date:                           July 25, 2014, subject to adjustment in accordance
                                                     with the Following Business Day Convention.

Fixed Amounts:

         Fixed Amount Payer:                         Party B

         Fixed Amount:                               USD 58,000.00

         Fixed Rate Payer
         Payment Dates:                              November 7, 2007, subject to adjustment in
                                                     accordance with the Following Business Day Convention

         Party A Floating Amounts:

                  Party A
                  Period End Dates:                  The 25th  calendar  day of each month  during the Term
                                                     of this  Transaction,  commencing  July 25, 2012,  and
                                                     ending   on   the   Termination   Date,   subject   to
                                                     adjustment in accordance  with the Following  Business
                                                     Day Convention

                  Floating Rate Payer
                  Payment Dates:                     Early  Payment  -  Two  Business  Days  preceding  the
                                                     25th  calendar  day of each  month  during the Term of
                                                     this  Transaction,   commencing  July  25,  2012,  and
                                                     ending on the Termination Date

                           Cap Rate:                 As set forth in Schedule I

                  Floating Rate Option:              USD-LIBOR-BBA;   provided,   however,   that   if  the
                                                     Floating  Rate  Option for any  Calculation  Period is
                                                     greater  than  14.000000%,   then  the  Floating  Rate
                                                     Option  for such  Calculation  Period  shall be deemed
                                                     to be 14.000000%.

                  Designated Maturity:               One month

                  Floating Rate Day
                  Count Fraction:                    Actual/360

                  Reset Dates:                       The first day of each Calculation Period.

                  Compounding:                       Not applicable

                  Business Days:                     New York

                  Calculation Agent:                 Party A

3.       ACCOUNT DETAILS:

         Payments to Party A:       HSBC Bank USA, National Association
                                                       ABA # 021-001-088
                                                       For credit to Department 299
                                                       A/C: 000-04929-8
                                                       HSBC Derivative Products Group

         Payments to Party B:       LaSalle Bank
                                    ABA # 071000505
                                    LaSalle CHGO/CTR/BNF:/LaSalle Trust
                                    Account # 724879.4
                                    Attn: RAAC 2007-SP2 Basis Risk Cap Acct

4.       OFFICES:

         The Office for Party A for this Transaction is New York, NY.

         The Office of Party B for this Transaction is Chicago, IL.

5.       CALCULATION AGENT:                 Party A

6.       REPRESENTATIONS.

Each  party  will be  deemed to  represent  to the  other  party on the date on which it  enters  into this
Transaction  that  (absent a written  agreement  between the parties  that  expressly  imposes  affirmative
obligations to the contrary for this Transaction):-

(i)        NON-RELIANCE.  It is acting for its own account,  and it has made its own independent  decisions
to enter into this  Transaction  and as to whether this  Transaction  is appropriate or proper for it based
upon its own judgment and upon advice from such advisers as it has deemed  necessary.  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.  No  communication  (written or oral) received from the other party shall be deemed
to be an  assurance  or  guarantee as to the  expected  results of this  Transaction.  Notwithstanding  the
foregoing,  the parties  agree that LaSalle  Bank  National  Association  has  executed  this  Confirmation
pursuant to the direction received by it pursuant to the Pooling and Servicing Agreement.

(ii)       ASSESSMENT AND  UNDERSTANDING.  It is capable of assessing the merits of and  understanding  (on
its own behalf or through  independent  professional  advice),  and  understands  and  accepts,  the terms,
conditions and risks of this Transaction.  It is also capable of assuming,  and assumes,  the risks of this
Transaction.  Notwithstanding the foregoing,  the parties agree that the LaSalle Bank National  Association
has  executed  this  Confirmation  pursuant  to the  direction  received  by it pursuant to the Pooling and
Servicing Agreement.

(iii)      STATUS OF PARTIES. The other party is not acting as a fiduciary for, or an adviser to it in
respect of this Transaction.

(iv)       PARI PASSU:  Party A represents that its obligations under this Confirmation rank pari passu
with all of its other unsecured, unsubordinated obligations except those obligations preferred by
operation of law.

7.       ISDA FORM.

(a)      "Specified Entity" means, in relation to Party A, for the purpose of Section 5(a)(v), Section
5(a)(vi), Section 5(a)(vii) and Section 5(b)(iv): Not Applicable.
(b)       "Specified Entity" means, in relation to Party B, for the purpose of Section 5(a)(v), Section
5(a)(vi), Section 5(a)(vii) and Section 5(b)(iv): Not Applicable.

(c)      "Specified Indebtedness" will have the meaning specified in Section 14 of the ISDA Form,
provided that Specified Indebtedness shall not include deposits received in the course of a party's
ordinary banking business.

(d)      "Specified Transaction" will have the meaning specified in Section 14 of the ISDA Form.

(e)      "Threshold Amount" means, with respect to Party A (or its Credit Support Provider), 3% of
shareholders' equity as described in its most recently published audited financial statement or its
equivalent in any currency.

(f)      Sections 5(a)(ii), 5(a)(iii), 5(a)(iv); and 5(a)(vi) of the ISDA Form will not apply to Party B;
provided that Section 5(a)(iii) of the ISDA Form shall apply to Party B to the extent that Party B fails
to return a Return Amount under the Credit Support Annex.  With respect to Party A and Party B, the
provisions of Section 5(a)(v) of the ISDA Form will not apply.

(g)      Section  5(a)(vi) of the ISDA Form "Cross Default"  applies to Party A, provided,  however,  that,
notwithstanding  the  foregoing,  an Event of Default shall not occur under either (i) or (ii) above if (A)
(I) the default,  or other similar event or condition  referred to in (1) or the failure to pay referred to
in (2) is a failure to pay or deliver  caused by an error or omission of an  administrative  or operational
nature,  and (II) funds or the asset to be delivered  were available to such party to enable it to make the
relevant  payment or delivery  when due and (III) such  payment or delivery is made within  three (3) Local
Business Days following  receipt of written notice from an interested  party of such failure to pay, or (B)
such party was precluded from paying, or was unable to pay, using reasonable  means,  through the office of
the party through  which it was acting for purposes of the relevant  Specified  Indebtedness,  by reason of
force majeure, act of State, illegality or impossibility.

(h)      Section  5(a)(vii) of the ISDA Form applies to Party A and Party B;  provided that with respect to
Party B, clauses (2),  (7) and (9) will not be  applicable  as an Event of Default to the extent such event
relates to nonpayment of  indebtedness  other than that of the related class of Notes;  clause (4) will not
apply to Party B to the extent that it refers to  proceedings  or  petitions  instituted  or  presented  by
Party A or any of its  Affiliates;  clause  (6) will not apply to Party B to the  extent  that it refers to
(i) any appointment  that is contemplated or effected by the Transaction  Documents or (ii) any appointment
that  Party B has not  become  subject  to);  clause  (8) will not apply to Party B to the  extent  that it
applies  to  Sections  5(a)(vii)(2)(4)(6),  and (7) of the  ISDA  Form  (except  to the  extent  that  such
provisions are not disapplied with respect to Party B.

(i)      The "Credit Event Upon Merger" provisions of Section 5(b)(iv) of the ISDA Form will not apply to
Party A or Party B.

(j)      The "Automatic Early Termination" provision of Section 6(a) of the ISDA Form will not apply to
Party A or Party B.

(k)      The "Tax Event Upon Merger" provisions of Section 5(b)(iii) of the ISDA Form will apply,
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.

(l)      Section 6(b)(ii) of the ISDA Form will apply; provided that the words "or if a Tax Event Upon
Merger occurs and the Burdened Party is the Affected Party" shall be deleted.

(m)      The ISDA Form will be governed by, and construed in accordance with, the laws of the State of
New York without reference to its conflict of laws provisions (except for Sections 5-1401 and 5-1402 of
the New York General Obligations Law).

(n)      The phrase "Termination Currency" means United States Dollars.

(o)      For the purpose of Section 6(e) of the ISDA Form:

                  (i)      Market  Quotation  will  apply  and the  Second  Method  will  apply;  provided,
                  however,  with respect to an early  termination in which Party A is the Defaulting  Party
                  or sole Affected  Party in respect of an Additional  Termination  Event or Tax Event Upon
                  Merger,  notwithstanding  Section 6 of the ISDA Form the following amendment to Agreement
                  set forth in paragraphs (i) to (ix) below shall apply:

                  For the purposes of Section  6(d)(i) of the ISDA Form,  Party B's obligation with respect
                  to the  extent  of  information  to be  provided  with its  calculations  is  limited  to
                  information  Party B has  already  received  in writing  which Party B is able to release
                  without breaching any contractual  obligations or the provisions of any law applicable to
                  Party B.

                  The definition of "Market Quotation" 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 transaction (the "Replacement  Transaction")
                  that would have the effect of  preserving  for such party 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  Transactions  or group of  Terminated
                  Transactions  that would, but for the occurrence of the relevant Early  Termination Date,
                  have been required  after that Date, (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  and (4)  made in  respect  of a
                  Replacement  Transaction  with terms  substantially  the same as those of this  Agreement
                  (save for the exclusion of provisions  relating to  Transactions  that are not Terminated
                  Transactions)."

                  (ii)     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 in accordance  with the Pooling and Servicing  Agreement)  equal to
                  the Termination  Currency  Equivalent of the amount (whether positive or negative) of any
                  Market  Quotation  for  the  relevant  Terminated  Transaction  or  group  of  Terminated
                  Transactions  that is accepted by Party B in  accordance  with the Pooling and  Servicing
                  Agreement so as to become legally binding, provided that:

                           (a) if, on or prior to such Early  Termination  Date, a Market Quotation for the
                           relevant  Terminated   Transaction  or  group  of  Terminated   Transactions  is
                           accepted by Party B so as to become legally  binding,  the Termination  Currency
                           Equivalent  of  the  amount  (whether  positive  or  negative)  of  such  Market
                           Quotation;

                           (b) if, on such Early  Termination  Date,  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 one or more Market  Quotations have
                           been  communicated  to Party B and remain  capably of becoming  legally  binding
                           upon  acceptance by Party B, the Termination  Currency  Equivalent of the amount
                           (whether positive or negative) of the lowest of such Market Quotation;

                           (c) if, on such Early  Termination  Date,  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  Quotations  have been
                           communicated  to Party B and remain  capable of becoming  legally  binding  upon
                           acceptance  by Party B,  Party  B's  Loss  (whether  positive  or  negative  and
                           without  reference to Unpaid  Amounts) for the relevant  Terminated  Transaction
                           or group of Terminated Transactions; and

                           (d) At any time on or  before  the Early  Termination  Date at which two or more
                           Market  Quotations  have been  communicated  to Party B and  remain  capable  of
                           becoming  legally  binding upon acceptance by Party B, Party B shall be entitled
                           to accept  only the  lowest of such  Market  Quotations  (for the  avoidance  of
                           doubt,  (i) a Market  Quotation  expressed as a negative  number is lower than a
                           Market  Quotation  expressed  as a  positive  number  and (ii) the  lower of two
                           Market  Quotations  expressed  as  negative  numbers is the one with the largest
                           absolute value).

                  (iii)    For the purpose of  sub-paragraph  (4) of the  definition  of Market  Quotation,
                  Party B shall  determine  in its sole  discretion  in  accordance  with the  Pooling  and
                  Servicing Agreement,  acting in a commercially reasonable manner, whether a Firm Offer is
                  made in respect of a Replacement  Transaction  with commercial  terms  substantially  the
                  same as those of this  Agreement  (save  for the  exclusion  of  provisions  relating  to
                  Transactions that are not Terminated Transactions).

                  (iv)     If Party B  requests  Party A in writing to obtain  Market  Quotations,  Party A
                  shall use its reasonable efforts to do so before the Early Termination Date.

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

                  "SECOND METHOD AND MARKET  QUOTATION.  If Second Method and Market  Quotation  apply, (1)
                  Party B shall  pay to Party A an amount  equal to the  absolute  value of the  Settlement
                  Amount in respect of the  Terminated  Transactions,  (2) Party B shall pay to Party A the
                  Termination  Currency  Equivalent of the Unpaid  Amounts owing to Party A and (3) Party A
                  shall pay to Party B the Termination  Currency  Equivalent of the Unpaid Amounts owing to
                  Party B,  provided  that,  (i) the  amounts  payable  under  clauses (2) and (3) shall be
                  subject  to  netting  in  accordance  with  Section  2(c)  of  this  Agreement  and  (ii)
                  notwithstanding  any other  provision of this  Agreement,  any amount  payable by Party A
                  under  clause (3) shall not be  netted-off  against  any amount  payable by Party B under
                  clause (1)."

(p)      Multibranch Party.  For the purpose of Section 10(c) of the ISDA Form: (a) Party A is not a
Multibranch Party; and (b) Party B is not a Multibranch Party.

(q)      Credit Support Document.  Initially with respect to Party A, a Credit Support Annex and any
guaranty in support of Party A's obligations. With respect to Party B, a Credit Support Annex, but only
with respect to Paragraph 3(b) of such Credit Support Annex.

(r)      Credit Support Provider.  In relation to Party A: Not Applicable. In relation to Party B: Not
Applicable.

(s)      Section 12(a)(ii) of the ISDA Form is deleted in its entirety.

(t)      Party A may assign or transfer its rights and obligations hereunder to any entity pursuant to
Section 9 of this Agreement.  This Transaction shall not be amended or modified pursuant to Section 9(b)
of the ISDA Form unless the Rating Agency Condition is satisfied.

(u)      Notwithstanding  any  provision of this  Transaction  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.  The
provisions  for Set-off set forth in Section  6(e) of the  Agreement  shall not apply for  purposes of this
Transaction.

8.       LIMITATION OF LIABILITY.

         Notwithstanding  anything  herein to the contrary,  it is expressly  understood  and agreed by the
parties hereto that (a) this  Confirmation  is executed and delivered by LaSalle Bank National  Association
("LaSalle Bank"), not individually or personally,  but solely as Supplemental Interest Trust Trustee of the
 RAAC Series 2007-SP2  Trust,  in the exercise of the powers and authority  conferred and vested in it, (b)
each of the  representations,  undertakings  and  agreements  herein  made on the part of the  RAAC  Series
2007-SP2  Trust is made and  intended  not as personal  representations,  undertakings  and  agreements  by
LaSalle Bank but is made and intended for the purpose of binding only the RAAC Series 2007-SP2  Trust,  (c)
nothing  herein  contained  shall be construed as creating any liability on LaSalle Bank,  individually  or
personally,  to perform any covenant either expressed or implied contained herein,  all such liability,  if
any,  being  expressly  waived by the parties  hereto and by any Person  claiming by,  through or under the
parties  hereto;  provided that nothing in this paragraph  shall relieve  LaSalle Bank from  performing its
duties and  obligations  under the Pooling and Servicing  Agreement in accordance with the standard of care
set forth therein,  and (d) under no circumstances  shall LaSalle Bank be personally liable for the payment
of any  indebtedness or expenses of the RAAC Series 2007-SP2  Supplemental  Interest Trust or be liable for
the breach or failure of any  obligation,  representation,  warranty or covenant  made or undertaken by the
RAAC Series 2007-SP2 Trust under this Confirmation or any other related documents.

9.       ADDITIONAL PROVISIONS.

         (I)  DOWNGRADE OF PARTY A. If a Ratings  Event (as defined  below)  shall occur and be  continuing
with respect to Party A, then Party A shall (A) within 5 Business Days of such Ratings  Event,  give notice
to Party B of the  occurrence  of such  Ratings  Event,  and (B) (x)  within  30  calendar  days  after the
occurrence  of a Ratings  Event with respect to Fitch or, (y) within 10 Business Days with respect to Party
A (or its Credit Support  Provider)  that is a Financial  Institution  with respect to S&P;  either (i) use
reasonable  efforts to transfer  (at its own cost) Party A's rights and  obligations  hereunder  to another
party,  subject to  satisfaction  of the Rating  Agency  Condition (as defined  below),  (ii) post Eligible
Collateral in accordance  with the Credit  Support  Annex  attached  hereto and made a part hereof or (iii)
obtain  a  guaranty  which  satisfies  the  Rating  Agency  Condition.  Party  A's  obligations  to  find a
transferee,  to post  Eligible  Collateral  under such Credit  Support  Annex or obtain a  guarantor  shall
remain in  effect  only for so long as a  Ratings  Event is  continuing  with  respect  to Party A. For the
purpose  hereof,  a "Ratings  Event"  shall  occur in that event that (1) Party A's (or its Credit  Support
Provider's)  short-term  unsecured  and  unsubordinated  debt  rating is reduced  below "A-1" by Standard &
Poor's  Ratings  Service  ("S&P") (or if its  short-term  rating is not available by S&P, in the event that
its long-term  unsecured and  unsubordinated  debt rating is reduced below "A+" by S&P) and with respect to
Party A (or its Credit Support  Provider) such entity is a Financial  Institution (an "S&P Approved Ratings
Downgrade")  or (2) its  short-term  unsecured  and  unsubordinated  debt  rating is reduced  below "F1" by
Fitch,  Inc.  ("Fitch") (or, if its short-term  rating is not available by Fitch,  its long-term  unsecured
and  unsubordinated  debt rating is withdrawn or reduced  below "A" by Fitch;  or (iii) if Party A fails to
satisfy the Moody's Downgrade provisions set forth in Section 9(ii) hereof.

If an S&P  Required  Rating  Downgrade  (as defined  below) shall occur and be  continuing  with respect to
Party A, then Party A shall within 2 Business Days of such S&P Required Rating  Downgrade,  (A) give notice
to Party B of the  occurrence  of such S&P Required  Rating  Downgrade,  and (B) within 10 Business Days of
the  occurrence  of such  Ratings  Withdrawal,  comply with the terms of the Credit  Support  Annex and (C)
within 60 days of the date of the S&P  Required  Ratings  Downgrade,  in  addition  to  posting  collateral
pursuant  to the Credit  Support  Annex (i)  transfer  (at its own cost)  Party A's rights and  obligations
hereunder  to another  party,  subject to  satisfaction  of the Rating  Agency  Condition  or (ii) obtain a
guaranty of its  obligations  hereunder  from  another  party,  subject to the  satisfaction  of the Rating
Agency  Condition,  and such  guaranty  shall  remain in effect only for so long as a S&P  Required  Rating
Downgrade  is  continuing  with  respect  to  Party A.  For the  purpose  hereof,  a "S&P  Required  Rating
Downgrade"  shall occur with respect to Party A (or its Credit  Support  Provider)  (x) if such entity is a
Financial  Institution,  its the short-term senior unsecured deposit rating is withdrawn by S&P or cease to
be at least "A-2" (or if its  short-term  rating is not  available by S&P, in the event that its  long-term
unsecured  and  unsubordinated  debt rating is cease to be at least  "BBB+" by S&P) or (y) with  respect to
Party A (or its Credit  Support  Provider) if such entity is not a Financial  Institution,  at any time its
short-term  senior  unsecured  deposit  rating is  withdrawn or reduced  below "A-1" (or if its  short-term
rating is not available by S&P, in the event that its long-term  unsecured and  unsubordinated  debt rating
is cease to be at least "A+" by S&P).

         "Financial  Institution" means a bank,  broker/dealer,  insurance company,  structured  investment
         vehicle or derivative product company.

         "Rating Agency Condition" means, with respect to any action taken or to be taken, a condition
that is satisfied when S&P, Moody's and Fitch have confirmed in writing that such action would not result
in the downgrade, qualification (if applicable) or withdrawal of the rating then assigned by such Rating
Agency to the Certificates

          (II)  MOODY'S DOWNGRADE PROVISIONS.

                  (A)      Moody's  First  Rating  Trigger  Collateral.  For purposes of this  section,  if
                  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  from time to time
                  entered into  between  Party A and Party B in relation to this  Agreement  and either (x)
                  the Moody's  Second Rating  Trigger  Requirements  do not apply or (y) less than 30 Local
                  Business  Days have  elapsed  since  the last  time the  Moody's  Second  Rating  Trigger
                  Requirements  did not apply,  such failure by Party A to comply with the  provisions  set
                  forth above shall constitute an Additional  Termination  Event for which Party A shall be
                  the sole Affected Party.

                  (B)      Moody's   Second  Rating  Trigger   Replacement.   It  shall  be  an  Additional
                  termination  Event with  respect  to Party A as sole  Affected  Party if (x) the  Moody's
                  Second  Rating  Trigger  Requirements  apply  and 30 or more  Local  Business  Days  have
                  elapsed  since the last time the  Moody's  Second  Rating  Trigger  Requirements  did not
                  apply  and (y) (i) at  least  one  Eligible  Replacement  has  made a Firm  Offer  (which
                  remains capable of becoming  legally  binding upon  acceptance) to be the transferee of a
                  transfer  to be made in  accordance  with Part  5(m)(ii)  below  and/or (ii) at least one
                  entity with the  Moody's  First  Trigger  Required  Ratings has made a Firm Offer  (which
                  remains  capable of becoming  legally  binding upon acceptance by the offeree) to provide
                  an  Eligible  Guarantee  in respect of all of Party A's  present  and future  obligations
                  under this Agreement.

                  For the purpose of sub-paragraph (B) and (C) above:

                  "Eligible  Guarantee" means an unconditional  and irrevocable  guarantee that is provided
                  by a guarantor  as principal  debtor  rather than surety and is directly  enforceable  by
                  Party B, where 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 withholding
                  for Tax or (B) such guarantee  provides  that, in the event that any of such  guarantor's
                  payments to Party B are subject to  withholding  for tax,  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  withholding  tax) will equal the full amount
                  Party B would have received had no such withholding been required.

                  "Eligible  Replacement"  means an entity A (i) with the Moody's  First  Trigger  Required
                  Ratings or (ii) whose  present  and future  obligations  owing to Party B are  guaranteed
                  pursuant  to an  Eligible  Guarantee  provided  by a  guarantor  with the  Moody's  First
                  Trigger  Required  Ratings and (B) with a short-term  unsecured and  unsubordinated  debt
                  rating of at least "A-1" by S&P (or if its  short-term  rating is not  available  by S&P,
                  in the event that its  long-term  unsecured  and  unsubordinated  debt rating is at least
                  "A+" by S&P) and with  short-term  unsecured and  unsubordinated  debt rating of at least
                  "F1" by Fitch.

                  "Firm Offer" means an offer which,  when made,  was capable of becoming  legally  binding
                  upon acceptance.

                  "Moody's  Short-term  Rating"  means a rating  assigned by Moody's  under its  short-term
                  rating scale in respect of an entity's  short-term,  unsecured  and  unsubordinated  debt
                  obligations.

                  "Relevant  Entities"  means  Party A and any  guarantor  under an Eligible  Guarantee  in
                  respect of all of Party A's present and future obligations under this Agreement.

                  An entity shall have the "Moody's First Trigger  Required  Ratings" (x) where such entity
                  is the  subject of a Moody's  Short-term  Rating,  if such  rating is  "Prime-1"  and its
                  long-term,  unsecured and unsubordinated debt or counterparty  obligations are rated "A2"
                  or  above  by  Moody's  and (y)  where  such  entity  is not  the  subject  of a  Moody's
                  Short-term Rating, if its long-term,  unsecured and  unsubordinated  debt or counterparty
                  obligations are rated "A1" or above by Moody's.

                  The  "Moody's  Second  Rating  Trigger  Requirements"  shall apply so long as no Relevant
                  Entity has the Second Trigger Required Ratings.

                  An entity  shall  have the  "Moody's  Second  Trigger  Required  Ratings"  (x) where such
                  entity is the subject of a Moody's  Short-term  Rating,  if such rating is  "Prime-2"  or
                  above and its long-term,  unsecured and  unsubordinated  debt  obligations are rated "A3"
                  or  above  by  Moody's  and (y)  where  such  entity  is not  the  subject  of a  Moody's
                  Short-term Rating, if its long-term,  unsecured and  unsubordinated  debt obligations are
                  rated "A3" or above by Moody's.

                  So long as the Moody's  Second Rating  Trigger  Requirements  apply,  Party A will at its
                  own cost use  commercially  reasonable  efforts  to, as soon as  reasonably  practicable,
                  procure  either (x) an  Eligible  Guarantee  in respect of all of Party A's  present  and
                  future  obligations  under this  Agreement to be provided by a guarantor with the Moody's
                  First Trigger  Required  Ratings and/or the Moody's Second  Trigger  Required  Ratings or
                  (y) a transfer in accordance with Section 9(ii) below.

         (III)    TRANSFERS.

                  (a)      Section 7 of the ISDA Form  shall not apply to Party A and,  subject  to Section
                  6(b)(ii) of the ISDA Form and Section 9(v) herein,  Party A may not transfer  (whether by
                  way of security or  otherwise)  any  interest or  obligation  in or under this  Agreement
                  without  the prior  written  consent  of Party B and  Party A has  satisfied  The  Rating
                  Agency  Condition  with  respect to S&P.  Any  transfer  pursuant  to this  Section  will
                  require  that  the  transferee  enter  into a  Regulation  AB  indemnification  agreement
                  substantially similar to the one previously entered into by Party A.

                  (b)      Subject to Section  9(v) below,  Party A may (at its own cost)  transfer  all or
                  substantially  all of its rights and  obligations  with respect to this  Agreement to any
                  other entity (a  "TRANSFEREE")  that is an Eligible  Replacement,  provided  that Party B
                  shall  determine in its sole  discretion  in  accordance  with the Pooling and  Servicing
                  Agreement,  acting  in a  commercially  reasonable  manner,  whether  or  not a  transfer
                  relates  to all or  substantially  all of Party A's  rights  and  obligations  under this
                  Agreement  and Party A has satisfied  The Rating  Agency  Condition  with respect to S&P.
                  Following  such  transfer,  all references to Party A shall be deemed to be references to
                  the Transferee.

                  (c)      If an entity has made a Firm Offer (which  remains  capable of becoming  legally
                  binding upon  acceptance)  to be the  transferee  of a transfer to be made in  accordance
                  with (ii) above and Party A has  satisfied the Rating  Agency  Condition  with respect to
                  S&P,  Party B shall  (at  Party  A's  cost)  at  Party  A's  written  request,  take  any
                  reasonable  steps  required to be taken by it to effect such transfer  provided that such
                  steps shall be in accordance with the Pooling and Servicing Agreement.

         (IV)     TAX.  Notwithstanding  the  definition of  "Indemnifiable  Tax" in Section 14 of the ISDA
Form,  in  relation  to  payments  by Party A, any Tax shall be an  Indemnifiable  Tax and,  in relation to
payments by Party B, no Tax shall be an Indemnifiable Tax.

         (V)      RATING  AGENCY  NOTIFICATIONS.  Notwithstanding  any other  provision of this  Agreement,
this Agreement shall not be amended,  no Early  Termination  Date shall be effectively  designated by Party
B, and no transfer of any rights or obligations  under this Agreement  shall be made (other than a transfer
of all of Party A's rights and  obligations  with  respect to this  Agreement  in  accordance  with Section
9(ii)  above)  unless  Moody's  has been given  prior  written  notice of such  amendment,  designation  or
transfer.

10.      ADDITIONAL TERMINATION EVENTS.

(a)      A Ratings  Event or a S&P Required  Rating  Downgrade  occurs as set forth in Section 9 hereof and
                  Party A fails to satisfy the  requirements  set forth in Section 9 hereof.  Party A shall
                  be the sole Affected Party.

11.      NON-PETITION.

         Party A hereby  irrevocably  and  unconditionally  agrees that it will not institute  against,  or
join any other person in  instituting  against or cause any other person to institute  against Party B, any
bankruptcy,  reorganization,  arrangement,  insolvency,  or similar proceeding under the laws of the United
States,  or any other  jurisdiction  for the  non-payment  of any amount due  hereunder or any other reason
until the payment in full of the certificates  issued by Party B under the Pooling and Servicing  Agreement
and the  expiration  of a period  of one year plus ten days  (or,  if  longer,  the  applicable  preference
period) following such payment.

12.      TAX REPRESENTATIONS.

(a)      Payer Representations.  For the purpose of Section 3(e) of the ISDA Form, Party A and Party B
will make the following representations:

         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 the  Agreement)  to be  made  by it to the  other  party  under  the
         Agreement.  In making this representation, it may rely on:

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

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

(iii)    the satisfaction of the agreement of the other party contained in Section 4(d) of the 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)      Payee  Representations.  For the  purpose of Section  3(f) of the  Agreement,  each of Party A and
Party B make the following representations.

         The following representation will apply to Party A:

         Party A is a national banking association organized under the federal laws of the United States
         and its U.S. taxpayer identification number is 20-1177241.

          The following representation will apply to Party B:

         LaSalle Bank National Association is the Trustee and Supplemental Interest Trust Trustee under
         the Pooling and Servicing Agreement.

13.      NON-RECOURSE PROVISIONS.

         Notwithstanding anything to the contrary contained herein, none of Party B or any of its
officers, directors, or shareholders (the "Non-recourse Parties") shall be personally liable for the
payment by or on behalf of the  RAAC Series 2007-SP2 Trust hereunder, and Party A shall be limited to a
proceeding against the Collateral or against any other third party other than the Non-recourse Parties,
and Party A shall not have the right to proceed directly against the RAAC Series 2007-SP2  Trust for the
satisfaction of any monetary claim against the Non-recourse Parties or for any deficiency judgment
remaining after foreclosure of any property included in such Collateral and following the realization of
the Collateral, any claims of Party A shall be extinguished.

14.      DOCUMENTS TO BE DELIVERED.  For the purpose of Section 4(a)(i) and 4(a)(iii):

(1)        Tax forms, documents, or certificates to be delivered are:

----------------------------------------------------- ------------------------------------------- ---------------------------------------------------------------
PARTY REQUIRED TO DELIVER DOCUMENT                    FORM/DOCUMENT/                              DATE BY WHICH TO BE DELIVERED
                                                      CERTIFICATE
----------------------------------------------------- ------------------------------------------- ---------------------------------------------------------------
----------------------------------------------------- ------------------------------------------- ---------------------------------------------------------------
Party A and                                           Any document required or reasonably         Promptly after the earlier of (i) reasonable demand by either
Party B                                               requested to allow the other party to       party or (ii) learning that such form or document is required.
                                                      make payments under this Agreement
                                                      without any deduction or withholding for
                                                      or on the account of any Tax or with such
                                                      deduction or withholding at a reduced
                                                      rate.
----------------------------------------------------- ------------------------------------------- ---------------------------------------------------------------

(2)        Other documents to be delivered (unless publicly available) are:

-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
PARTY REQUIRED TO DELIVER DOCUMENT     FORM/DOCUMENT/                                DATE BY WHICH TO BE DELIVERED             COVERED BY SECTION 3(D)
                                       CERTIFICATE                                                                             REPRESENTATION
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
Party A and Party B                    Any documents to evidence the authority of    Upon the execution and delivery of this                 Yes
                                       the delivering party for it to execute and    Agreement and such Confirmation.
                                       deliver this Confirmation.
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
Party A and Party B                    A certificate of an authorized officer of     Upon the execution and delivery of this                 Yes
                                       the party, as to the incumbency and           Confirmation.
                                       authority of the respective officers of the
                                       party signing this Confirmation.

-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
Party A                                Legal opinion(s) with respect to such party   Within 5 Local Business Days of                          No
                                       and its Credit Support Provider, if any,      execution hereof.
                                       for it, reasonably satisfactory in form and
                                       substance to the other party relating to
                                       the enforceability of the party's
                                       obligations under this Agreement.
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------

Party A                                Annual Financial Statements of Party A as     Promptly upon request made by Party B.                  Yes
                                       set forth in Party A's Call Report.
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------
Party B                                Each other report or other document           Promptly upon request by Party A, or                     No
                                       required to be delivered by or to Party B     with respect to any particular type of
                                       under the terms of the Pooling and            report or other document as to which
                                       Servicing Agreement, other than those         Party A has previously made request to
                                       required to be delivered directly by the      receive all reports or documents of
                                       Trustee to Party A thereunder.                that type, promptly upon delivery or
                                                                                     receipt of such report or document by
                                                                                     Party B and delivery shall be satisfied
                                                                                     by posting such report on Party B's
                                                                                     website http://www.usbank.com/mbs.
-------------------------------------- --------------------------------------------- ----------------------------------------- ---------------------------------

15.      WAIVER OF RIGHT TO TRIAL BY JURY.

         EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY
LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS TRANSACTION.

16.      ELIGIBLE CONTRACT PARTICIPANT.

         Each party represents to the other party that it is an "eligible contract participant" as
defined in Section 1a(12) of the U.S. Commodity Exchange Act, as amended.

17.      NOTICE BY FACSIMILE TRANSMISSION.

         Section 12(a) of the ISDA Form is hereby amended by deleting the parenthetical "(except that a
notice or other communication under Section 5 or 6 may not be given by facsimile transmission or
electronic messaging system)."

18.  LIMITATION  ON EVENTS OF DEFAULT.  Notwithstanding  the terms of  Sections 5 and 6 of the ISDA Form,  if
at any time and so long as Party B has satisfied in full all its payment  obligations  under Section  2(a)(i)
of the ISDA Form 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) of the ISDA Form 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 of the ISDA Form only as a result
of the occurrence of a Termination  Event set forth in either Section  5(b)(i) with respect to either Party A
or Party B as the Affected Party.

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.

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,

HSBC BANK USA, NATIONAL ASSOCIATION

By:      /s/ Charleen Collins
         Name:  Charleen Collins
         Title: Vice President ID# 15564

By:      /s/ Dennis J. Nevins
         Name:  Dennis J. Nevins
         Title: Officer ID# 15157

Confirmed as of the date above:

RAAC SERIES 2007-SP2 TRUST

By:      LaSalle Bank National Association not in its individual capacity
         but solely in its capacity as Trustee for the benefit of the RAAC Series 2007-SP2
          Trust

By:      /s/ Susan L. Feld
         Name:  Susan L. Feld
         Title: Vice President

--------------------------------------------------------------------------------

Reference Number: 481992HN/481993HN

                                                SCHEDULE A

With respect to calculating a Floating Amount for any Calculation Period falling within the periods set
forth below, the Notional Amount shall be the amount set forth opposite the relevant period and
underneath the caption Notional Amount, as follows:

------------------------------------------------------------------------------- --------------------------- -----------------
                         For the Calculation Periods                                 Notional Amount        Party A Cap
                                                                                                            Rate:
------------------------------------------------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
         From and including:                     To but excluding the                     in USD:
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                    The Effective Date                           July 25, 2012               56,185,761.65            9.1720
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                         July 25, 2012                         August 25, 2012               54,719,901.45            8.8600
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                       August 25, 2012                      September 25, 2012               53,295,151.00            8.8370
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                    September 25, 2012                        October 25, 2012               51,910,216.54            9.1090
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                      October 25, 2012                       November 25, 2012               50,563,936.04            8.7940
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     November 25, 2012                       December 25, 2012               49,255,109.72            9.0650
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     December 25, 2012                        January 25, 2013               47,982,655.56            8.7560
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                      January 25, 2013                       February 25, 2013               46,745,411.41            8.7390
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     February 25, 2013                          March 25, 2013               45,542,373.26            9.6510
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                        March 25, 2013                          April 25, 2013               44,372,551.42            8.6950
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                        April 25, 2013                            May 25, 2013               43,234,957.85            8.9640
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                          May 25, 2013                           June 25, 2013               42,128,641.73            8.6530
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                         June 25, 2013                           July 25, 2013               41,052,670.20            8.9230
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                         July 25, 2013                         August 25, 2013               40,006,152.09            8.6190
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                       August 25, 2013                      September 25, 2013               38,988,221.11            8.5970
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                    September 25, 2013                        October 25, 2013               37,998,025.54            8.8620
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                      October 25, 2013                       November 25, 2013               37,034,750.16            8.5570
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     November 25, 2013                       December 25, 2013               36,097,599.04            8.8240
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     December 25, 2013                        January 25, 2014               35,185,819.89            8.5180
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                      January 25, 2014                       February 25, 2014               34,298,568.89            8.4970
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                     February 25, 2014                          March 25, 2014               33,435,185.50            9.3840
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                        March 25, 2014                          April 25, 2014               32,595,021.61            8.4560
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                        April 25, 2014                            May 25, 2014               31,777,402.97            8.7160
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                          May 25, 2014                           June 25, 2014               30,981,676.25            8.4150
--------------------------------------- --------------------------------------- --------------------------- -----------------
--------------------------------------- --------------------------------------- --------------------------- -----------------
                         June 25, 2014                    The Termination Date               30,207,208.43            8.6740
--------------------------------------- --------------------------------------- --------------------------- -----------------

* All dates listed above (with the exception of the Effective Date) are subject to adjustment in
accordance with the Following Business Day Convention