----

**W**

*Mortgage        Company*

*A        Waterfield Group Company*

| 1.  | I                  have reviewed the servicing reports prepared by Union Federal Bank                  of                  Indianapolis (the "Company") pursuant to the AAR between EMC, Union                  Federal                  and the Trust -SACO I Trust 2005-5 and the Pool and Servicing Agreement                  (the "Servicer") and the Company, |
|----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Based                  on my knowledge, the information in the Annual Statement of Compliance,                  the Annual Independent Public Accountant's Servicing Report and                  all                  servicing reports, officer's certificates and other information                  relating                  to the servicing of the Mortgage Loans submitted to the Servicer                  and the                  related                  Master Subservicer, taken as a whole, does not contain any untrue                  statements made, in light of the circumstances under which such                  statements                  were made, not misleading as of the date of these                  certifications. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | The                  Servicing information required to be provided to the Servicer and                  if                  applicable, the related Master Servicer under the Servicing Agreement                  has                  been provided                  to the Servicer and the Master                  Servicer, |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | I                  am responsible for reviewing the activities performed by the Subservicer                  under the Subservicing Agreement and based upon the review required                  underthe                  Servicing Agreement and except as disclosed in the Annual Statement                  of                  Compliance, the Annual Independent Public Accountant's Servicing                  Report and                  all servicing reports, officer's certificates and other information                  relating to the servicing of the Mortgage Loans submitted to the                  Servicer                  and theMaster                  Servicer, the Subservicer, as of the date of this certificate fulfilled                  its obligations under the Servicing                  Agreement. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | I have                  disclosed to the Servicer and the Master Servicer all significant                  deficiencies relating to the Company's compliance with the minimum                  servicing standards inaccordance                  with a review conducted in compliance with the Uniform Single Attestation                  Program for Mortgage Bankers or similar standard as set forth in                   Servicing Agreement. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----