[National Amount:]











	
	Chairman of the Supervisory Board: Clemens Börsig

Management Board: Josef Ackermann (Chairman), Hugo Banziger, Tessen von Heydebreck, Anthony Di Iorio, Hermann-Josef Lamberti









Deutsche Bank AG New York

60 Wall Street

New York, NY 10005

Telephone: 212-250-5977

Facsimilie: 212-797-8826







		
	To:

	HSBC BANK USA, NATIONAL ASSOCIATION, not in its individual or corporate capacity but solely as Trustee for the Supplemental Interest Trust for Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA1


	Attn:

	Corporate Trust & Loan Agency/DBALT 2007-OA1


	Fax No:

	212-525-1300


	From:

	DEUTSCHE BANK AG, NEW YORK BRANCH


	Attn:

	New York Derivatives Documentation


	Telephone No:

	212-250-9425


	Fax No:

	212-797-0779


	Email:

	NYderivative.documentation@db.com


	Reference:

	Global No. N577318N


	Date:

	February 28, 2007







Swap Transaction Confirmation




1.  The purpose of this letter agreement (“Confirmation”) is to confirm the terms and conditions of the Transaction entered into on the Trade Date specified below (the “Transaction”) between Deutsche Bank AG, New York Branch (“DBAG”) and HSBC Bank USA, National Association, not in its individual or corporate capacity but solely as Trustee for the Supplemental Interest Trust for Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA1 (“Counterparty”) created under the Pooling and Servicing Agreement for Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA1 dated as of February 1, 2007 among Deutsche Alt-A Securities, Inc., as depositor, Wells Fargo Bank, N.A., as master servicer and securities administrator, and HSBC Bank USA, National Association, as trustee (the “Pooling and Servicing Agreement”).




The definitions and provisions contained in the 2000 ISDA Definitions (the “2000 Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation.  In the event of any inconsistency between the 2000 Definitions and this Confirmation, this Confirmation will govern for the purposes of the Transaction.  References herein to a “Transaction” shall be deemed to be references to a “Swap Transaction” for the purposes of the 2000 Definitions.  Capitalized terms used in this Confirmation and not defined in this Confirmation or the 2000 Definitions shall have the respective meaning assigned thereto in the Agreement (as herein defined).  Each party hereto agrees to make payment to the other party hereto in accordance with the provisions of this Confirmation and of the Agreement.




2.  This Confirmation supersedes any previous confirmation or other communication with respect to the Transaction and evidences a complete and binding agreement between you and us as to the terms of the Swap Transaction to which this Confirmation relates.  This Confirmation supplements, forms part of, and is subject to the terms and conditions of the ISDA Master Agreement dated as of February 28, 2007, between each of DBAG and Counterparty (the “Agreement”). Capitalized terms used in this Confirmation and not defined in the Agreement, this Confirmation or the 2000 Definitions shall have the respective meaning assigned in the Pooling and Servicing Agreement.

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

			
	 
	General Terms

	 






			
	 
	Type of Transaction:

	Rate Swap


	 
	Notional Amount:

	With respect to any Calculation Period the amount set forth for such period on Schedule I attached.


	 
	Trade Date:

	February 23, 2007


	 
	Effective Date:

	February 28, 2007


	 
	Termination Date:

	February 25, 2012, subject to adjustment in accordance with the Following Business Day Convention.







			
	 
	MTA Amounts:

	 






			
	 
	MTA Rate Payer:

	Counterparty


	 
	MTA Rate Option:

	The MTA Rate Option is defined as the twleve-month average of the monthly Treasury constant maturity rates as published in the Federal Reserve Statistical Release: “Selected Interest Rates / H.15”.  The 12-month average is determined by adding together the constant maturity rates and dividing by 12.  The result is rounded up to the nearest one-thousand of one percent.  The MTA Rate Option used for each Calculation Period will be the most recent MTA figure published as of the Reset Date through the Bloomberg Service, which may be obtained by typing "12MTA <Index> DES <Go>", where <Index> is the F10 key and <Go> is the "Enter" or "Return" key.  




If the MTA Rate Option is not available on such MTA Determination Date, then the Calculation Agent will determine the MTA Rate Option by polling Reference Market-makers.  If more than 3 rates are provided, the MTA Rate Option will be the arithmetic mean of the rates, without regard to the highest and lowest.  If exactly three are provided, the MTA Rate Option will be the rate remaining after disregarding he highest and lowest.  If fewer than three rates are provided, the MTA Rate Option will be determined by the Calculation Agent.


	 
	MTA Rate Payer Period End Dates:

	The 25th calendar day of each month during the Term of this Transaction, commencing March 25, 2007, and ending on the Termination Date, with No Adjustments.


	 
	MTA Rate Payer Payment Dates:

	The 25th calendar day of each month during the Term of this Transaction, commencing March 25, 2007, and ending on the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.  Early Payment shall be applicable. The MTA Rate Payer Payment Date shall be one (1) Business Day preceding each MTA Rate Payer Period End Date.


	 
	MTA Amount:

	Notional Amount * (MTA Rate Option plus 0.37% per annum) * MTA Rate Day Count Fraction


	 
	MTA Rate Day Count Fraction:

	30/360


	 
	Designated Maturity:

	One month


	 
	Reset Dates:

	The MTA Rate Option used for each Calculation Period will be the most recent MTA Rate Option available fifteen calendar days prior to the first day of the calendar month in which such Calculation Period begins.


	 
	Compounding:

	Inapplicable







			
	 
	LIBOR Amounts:

	 






				
	 
	LIBOR Rate Payer:  

	DBAG


	 
	LIBOR Rate Payer Period End Dates:  

	The 25th calendar day of each month during the Term of this Transaction, commencing March 25, 2007, and ending on the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.


	 
	LIBOR Rate Payer Payment Dates:

	The 25th calendar day of each month during the Term of this Transaction, commencing March 25, 2007, and ending on the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.  Early Payment shall be applicable. The LIBOR Rate Payer Payment Date shall be one (1) Business Day preceding each LIBOR Rate Payer Period End Date.

 


	 
	LIBOR Rate Option:

	USD-LIBOR-BBA


	 
	LIBOR Amount:

	Notional Amount * LIBOR Rate Option * LIBOR Rate Day Count Fraction


	 
	Designated Maturity:

	One month


	 
	 
	LIBOR Rate Day Count Fraction:

	Actual/360


	 
	 
	Reset Dates:

	The first day of each Calculation Period


	 
	 
	Compounding:

	Inapplicable







			
	 
	Additional Terms:

	 






			
	 
	Business Days:

	New York


	 
	Calculation Agent:

	DBAG 


	 
	MTA Netting:

	Notwithstanding anything in the contrary in this Confirmation or the Agreement, for any MTA Rate Payer Payment Date, to the extent that the MTA Amount exceeds the LIBOR Amount (The “Net MTA Amount”), the MTA Rate Payer shall owe the LIBOR Rate Payer the Adjusted  Net MTA Amount for such MTA Rate Payer Payment Date.


	 
	Adjusted Net MTA Amount:  

	For any MTA Rate Payer Payment Date (other than the MTA Rate Payer Payment Date in February 2012), the excess, if any, of (A) the sum of (x) the Net MTA Amount plus (y) the Unpaid Deferred Net MTA Amount over (B) any Deferred Net MTA Amount for the current MTA Rate Payer Payment Date.




For the MTA Rate Payer Payment Date in February 2012, the sum of (x) the Net MTA Amount plus (y) the Unpaid Deferred Net MTA Amount.


	 
	Deferred Net MTA Amount:   

	For any MTA Rate Payer Payment Date, the lesser of (a) the excess, if any, of (x) the sum of (i) the Net MTA Amount plus (ii) the Unpaid Deferred Net MTA Amount over (y) Available Funds for that Distribution Date and (b) the Net Deferred Interest for that Distribution Date.


	 
	Unpaid Deferred Net MTA Amount:

	For any MTA Rate Payer Payment Date, the aggregate Deferred Net MTA Amount from prior MTA Rate Payer Payment Dates plus interest accrued during the related Accrual Period on such Deferred Net MTA Amount at a rate equal to the MTA Rate Option plus 0.37% per annum; provided, that on any MTA Rate Payment Date on which a Net LIBOR Amount is payable, immediately following such MTA Rate Payment Date, the Unpaid Deferred Adjusted Net Swap Amount for such MTA Rate Payment Date will be reduced (not below zero) by the lesser of (A) the Net LIBOR Amount for such Distribution Date and (B) the Unpaid Deferred Net MTA Amount for such Distribution Date.


	 
	LIBOR Netting:

	Notwithstanding anything in the contrary in this Confirmation or the Agreement, for any LIBOR Rate Payer Payment Date, to the extent that the LIBOR Amount exceeds the MTA Amount (The “Net LIBOR Amount”), the LIBOR Rate Payer shall owe the MTA Rate Payer the Adjusted Net LIBOR Amount for such LIBOR Rate Payer Payment Date.


	 
	Adjusted Net LIBOR Amount:

	For any LIBOR Rate Payer Payment Date, the excess, if any, of (A) the Net LIBOR Amount over (B) the Unpaid Deferred Net MTA Amount for such Distribution Date.


	 
	Account Details and Settlement Information:

	Payments to DBAG:

Deutsche Bank Trust Company – Americas, New York

SWIFT Code: BKTRUS33 / ABA 021001033

Favor of: Deutsche Bank AG, New York

Acct. # 01 473 969


	 
	 
	Payments to Counterparty:

Wells Fargo Bank, NA

ABA# 121000248

Account Name: SAS Clearing

Account #3970771416

FFC to: DBALT 2007-OA1 

Certificate Swap Account # 50986302







Please confirm that the foregoing correctly sets forth the terms of our agreement by having an authorized officer sign this Confirmation and return it via facsimile to:

Attention: Derivative Documentation

Telephone: 44 20 7547 4755

Facsimile: 44 20 7545 9761

E-mail:derivative.documentation@db.com











This message will be the only form of Confirmation dispatched by us.  If you wish to exchange hard copy forms of this Confirmation, please contact us.




		
	For and on behalf of 

DEUTSCHE BANK AG, NEW YORK BRANCH

(RMBS Derivatives Desk)

	For and on behalf of

HSBC BANK USA, NATIONAL ASSOCIATION, not in its individual or corporate capacity but solely as Trustee for the Supplemental Interest Trust for Deutsche Alt-A Securities Mortgage Loan Trust, Series 2007-OA1


	


/s/ Cloris Eng

Name: Cloris Eng

Title: Assistant Vice President

Date: February 28, 2007

	


/s/ Fernando Acebedo

Name: Fernando Acebedo

Title: Vice President

Date: February 28, 2007


	


/s/ Vivian Jackson

Name: Vivian Jackson

Title: Vice President

Date: February 28, 2007

	 













SCHEDULE I







(With respect to each MTA Rate Payer Period End Date, all such dates are with No Adjustment, and with respect to each LIBOR Rate Payer Period End Date, all such dates are subject to adjustment in accordance with the Following Business Day Convention)




			
	Start Date

	End Date

	Swap Notional Amount ($)


	February 28, 2007

	March 25, 2007

	367,999,906.54


	March 25, 2007

	April 25, 2007

	360,234,165.03


	April 25, 2007

	May 25, 2007

	352,880,045.21


	May 25, 2007

	June 25, 2007

	345,679,790.40


	June 25, 2007

	July 25, 2007

	338,630,301.88


	July 25, 2007

	August 25, 2007

	331,728,202.75


	August 25, 2007

	September 25, 2007

	324,970,480.21


	September 25, 2007

	October 25, 2007

	318,353,416.46


	October 25, 2007

	November 25, 2007

	311,873,016.05


	November 25, 2007

	December 25, 2007

	305,525,382.60


	December 25, 2007

	January 25, 2008

	299,282,425.20


	January 25, 2008

	February 25, 2008

	293,169,322.81


	February 25, 2008

	March 25, 2008

	287,148,300.58


	March 25, 2008

	April 25, 2008

	281,251,996.69


	April 25, 2008

	May 25, 2008

	275,479,858.15


	May 25, 2008

	June 25, 2008

	269,829,085.73


	June 25, 2008

	July 25, 2008

	264,297,227.06


	July 25, 2008

	August 25, 2008

	258,881,604.70


	August 25, 2008

	September 25, 2008

	253,579,834.00


	September 25, 2008

	October 25, 2008

	248,388,961.17


	October 25, 2008

	November 25, 2008

	243,305,807.74


	November 25, 2008

	December 25, 2008

	238,327,274.46


	December 25, 2008

	January 25, 2009

	233,430,754.45


	January 25, 2009

	February 25, 2009

	228,632,852.62


	February 25, 2009

	March 25, 2009

	223,899,846.08


	March 25, 2009

	April 25, 2009

	219,263,437.50


	April 25, 2009

	May 25, 2009

	214,717,065.62


	May 25, 2009

	June 25, 2009

	210,154,181.35


	June 25, 2009

	July 25, 2009

	205,437,178.84


	July 25, 2009

	August 25, 2009

	200,826,755.12


	August 25, 2009

	September 25, 2009

	196,296,826.66


	September 25, 2009

	October 25, 2009

	191,870,291.43


	October 25, 2009

	November 25, 2009

	187,508,234.47


	November 25, 2009

	December 25, 2009

	183,234,389.63


	December 25, 2009

	January 25, 2010

	179,009,208.63


	January 25, 2010

	February 25, 2010

	174,880,643.57


	February 25, 2010

	March 25, 2010

	170,828,051.95


	March 25, 2010

	April 25, 2010

	166,854,306.53


	April 25, 2010

	May 25, 2010

	162,973,349.08


	May 25, 2010

	June 25, 2010

	159,182,596.19


	June 25, 2010

	July 25, 2010

	155,480,478.90


	July 25, 2010

	August 25, 2010

	151,826,410.59


	August 25, 2010

	September 25, 2010

	148,255,056.01


	September 25, 2010

	October 25, 2010

	144,761,301.84


	October 25, 2010

	November 25, 2010

	141,314,709.16


	November 25, 2010

	December 25, 2010

	137,919,781.88


	December 25, 2010

	January 25, 2011

	134,600,536.55


	January 25, 2011

	February 25, 2011

	131,356,072.41


	February 25, 2011

	March 25, 2011

	128,155,953.56


	March 25, 2011

	April 25, 2011

	125,032,889.86


	April 25, 2011

	May 25, 2011

	121,979,426.55


	May 25, 2011

	June 25, 2011

	118,984,998.25


	June 25, 2011

	July 25, 2011

	116,061,612.81


	July 25, 2011

	August 25, 2011

	113,209,272.12


	August 25, 2011

	September 25, 2011

	110,426,262.52


	September 25, 2011

	October 25, 2011

	107,709,136.18


	October 25, 2011

	November 25, 2011

	105,058,108.19


	November 25, 2011

	December 25, 2011

	102,471,583.10


	December 25, 2011

	January 25, 2012

	99,947,773.02


	January 25, 2012

	February 25, 2012

	97,485,372.33