AMBAC                                             Ambac Assurance Corporation
                                                  One State Street  Plaza,  15th
                                                  Floor
                                                  New York, New York 10004
                                                  Telephone: (212) 668-0340
CERTIFICATE GUARANTY INSURANCE POLICY



Insured Obligations: RAMP Series 2003-RZI Trust,  Policy Number: AB0646BE
Mortgage Asset-Backed Pass-Through Certificates,
Series 2003-RZI, $780,000,000 Class A             Premium: As set forth in the
Certificates                                               Insurance Agreement.
and the Class A-IO Certificates


AMBAC ASSURANCE CORPORATION (AMBAC), a Wisconsin stock insurance corporation, in
consideration  of the  payment of the  premium  and subject to the terms of this
Policy, hereby agrees  unconditionally and irrevocably to pay to the Trustee for
the  benefit of the  Holders of the  Insured  Obligations,  that  portion of the
Insured Amounts which shall become Due for Payment but shall be unpaid by reason
of Nonpayment.

Ambac will make such  payments to the Trustee from its own funds on the later of
(a) one (1) Business Day  following  notification  to Ambac of Nonpayment or (b)
the Business Day on which the Insured Amounts are Due for Payment. Such payments
of principal or interest shall be made only upon  presentation  of an instrument
of assignment in form and substance satisfactory to Ambac, transferring to Ambac
all rights  under such  Insured  Obligations  to receive  the  principal  of and
interest  on the  Insured  Obligation.  Ambac  shall  be  subrogated  to all the
Holders'  rights to  payment  on the  Insured  Obligations  to the extent of the
insurance  disbursements so made. Once payments of the Insured Amounts have been
made to the Trustee, Ambac shall have no further obligation hereunder in respect
of such Insured Amounts.

In the event the Trustee for the Insured Obligations has notice that any payment
of  principal  or  interest  on an Insured  Obligation  which has become Due for
Payment  and which is made to a Holder by or on behalf of the  Trustee  has been
deemed a  preferential  transfer  and  theretofore  recovered  from  its  Holder
pursuant  to the  United  States  Bankruptcy  Code in  accordance  with a final,
nonappealable  order of a court of competent  jurisdiction,  such Holder will be
entitled  to payment  from Ambac to the extent of such  recovery  if  sufficient
funds are not otherwise available.

This  Policy is  noncancelable  by Ambac for any  reason,  including  failure to
receive payment of any premium due hereunder.  The premium on this Policy is not
refundable  for any  reason.  This Policy  does not insure  against  loss of any
prepayment  or other  acceleration  payment  which at any time may become due in
respect of any Insured  Obligation,  other than at the sole option of Ambac, nor
against any risk other than Nonpayment, including failure of the Trustee to make
any payment due Holders of Insured Amounts.

To the fullest  extent  permitted by  applicable  law,  Ambac hereby  waives and
agrees not to assert any and all rights and defenses,  to the extent such rights
and  defenses may be available  to Ambac,  to avoid  payment of its  obligations
under this Policy in accordance with the express provisions hereof.

Any capitalized terms not defined herein shall have the meaning given such terms
in the endorsement attached hereto or in the Agreement.

In  witness  whereof,  Ambac  has  caused  this  Policy to be  affixed  with its
corporate seal and to be signed by its duly authorized  officers in facsimile to
become  effective as their original  signatures and binding upon Ambac by virtue
of the countersignature of its duly authorized representative.

/s/ Robert J. Genader                                  /s/ Anne G. Gill
President                                     [SEAL]   Secretary

                                                       /s/ Thomas J. Adams
Effective   Date:   January  30,                       Authorized Representative
2003


<PAGE>


                                EXECUTED VERSION


                CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT

Attached to and forming                         Effective Date of Endorsement:
part of Policy No. AB0646BE                                   January 30, 2003
issued to:

JPMorgan Chase Bank, as Trustee on behalf of, and for the benefit of the Holders
of, the Mortgage Asset- Backed Pass-Through Certificates, Series 2003-RZ1, Class
A Certificates, as Issued pursuant to the Agreement

        For all  purposes of this  Policy,  the  following  terms shall have the
following meanings:

        "Agreement" shall mean the Pooling and Servicing Agreement,  dated as of
January 1, 2003, among Residential Asset Mortgage Products,  Inc., as Depositor,
Residential  Funding  Corporation,  as  Master  Servicer,  and the  Trustee,  as
Trustee.  without  regard to any  amendment or  supplement  thereto  unless such
amendment or supplement has been approved in writing by the Insurer.

        "Business  Day" shall mean any day other than a Saturday,  a Sunday or a
day on which  banking  institutions  in the  State  of New  York,  the  State of
Minnesota. the State of California, the State of Texas, the State of Illinois or
in the city in which  the  corporate  trust  office  of the  Trustee  under  the
Agreement  or the  Insurer is located  are  authorized  or  obligated  by law or
executive order to close.

        "Class A Certificates" shall mean the Class A-I Certificates,  the Class
A-II Certificates and the Class A-IO Certificates.

        "Deficiency   Amount"   shall  mean,   with   respect  to  the  Class  A
Certificates, as of any Distribution Date (i) any shortfall in amounts available
in the  Certificate  Account to pay interest for the (related  Interest  Accrual
Period on the Certificate Principal Balance (or the Notional Amount, in the case
of the  Class  A-IO  Certificates)  of the  Class  A  Certificates  at the  then
applicable  Pass-Through  Rate,  net  of  any  Relief  Act  Shortfalls  and  any
Prepayment Interest Shortfalls  allocated to the Class A Certificates,  (ii) the
principal  portion of any Realized Lasses  allocated to the Class A Certificates
with  respect  to such  Distribution  Date and (iii) the  Certificate  Principal
Balance  of  the  Class  A  Certificates  to the  extent  unpaid  on  the  Final
Distribution Date or earlier termination of the Trust Fund pursuant to the terms
of the Agreement.  Notwithstanding the foregoing, the Deficiency Amount does not
include  any Basis Risk  Shortfalls  or any  interest  shortfalls  caused by the
failure of the Hedge  Counterparty  to make  payments  required  under the Hedge
Agreement and the Policy does not cover any Basis Risk  Shortfall  Carry-Forward
Amounts.

        "Due for Payment" shall mean, with respect to any Insured Amounts,  such
amount that is due and payable under the  Agreement on the related  Distribution
Date.

     "Final Distribution Date" shall mean the Distribution Date in January 2033.

        "First Distribution Date" shall mean February 25, 2003.

        "Holder" shall mean any person who is the registered owner or beneficial
owner of any of the Class A Certificates and who, on the applicable Distribution
Date,  is  entitled  under  the  terms of the Class A  Certificates  to  payment
thereunder.
<PAGE>

        "Insurance  Agreement" shall mean the Insurance and Indemnity  Agreement
(as may be amended,  modified or  supplemented  from time to time),  dated as of
January 30, 2003, by and among the Insurer,  Residential Funding Corporation. as
Seller  of the  Mortgage  Loans to the  Depositor  and as Master  Servicer,  the
Depositor and JPMorgan Chase Bank, as Trustee.

        "Insurance  Policy" or  "Policy"  shall mean this  Certificate  Guaranty
Insurance Policy together with each and every endorsement hereto.

        "Insured Amounts" shall mean, with respect to any Distribution Date, the
Deficiency Amount for such Distribution Date plus any Preference Amount for such
Distribution  Date. An Insured Amount shall not include any Prepayment  Interest
Shortfalls,  any Relief Act  shortfalls  any interest  shortfalls  caused by the
failure of the Hedge  Counterparty  to make  payments  required  under the Hedge
Agreement and any Basis Risk Shortfall Carry-Forward Amounts.

        "Insured Obligations" shall mean the Class A Certificates.

        "Insured  Payments" shall mean, with respect to any  Distribution  Date,
the aggregate amount actually,  paid by the Insurer to the Trustee in respect of
Insured Amounts for such Distribution Date.

        "Insurer"  shall  mean Ambac  Assurance  Corporation,  or any  successor
thereto, as issuer of the Insurance Policy.

        "Late  Payment Rate" shall mean the lesser of (a) the greater of (i) the
per annum rate of interest  publicly  announced  from time to time by  Citibank,
N.A. as its prime or base  lending  rate (any change in such rate of interest to
be effective on the date such change is announced by Citibank,  N.A.),  and (ii)
the then applicable  highest rate of interest on any of the Class A Certificates
and (b) the maximum  rate  permissible  under  applicable  usury or similar laws
limiting interest rates. The Late Payment Rate shall be computed on the basis of
the actual  number of days elapsed over a year of 360 days for any  Distribution
Date.

        "Nonpayment"  shall mean,  with  respect to any  Distribution  Date,  an
Insured Amount which is Due for Payment but has not been and will not be paid in
respect of such Distribution Date pursuant to the Agreement.

        "Notice"  shall mean the  telephonic  or  telegraphic  notice,  promptly
confirmed in writing by telecopy  substantially  in the form of Exhibit A to the
Policy,  the  original  of which is  subsequently  delivered  by  registered  or
certified mail from the Trustee specifying the Insured Amount which shall be due
and owing on the applicable Distribution Date.

        "Preference  Amount" shall mean any amount  previously  distributed to a
Holder by or on behalf of the Trust  Fund that is  recoverable  and sought to be
recovered as a voidable  preference by a trustee in  bankruptcy  pursuant to the
Bankruptcy Code in accordance with a final nonappealable order of a court having
competent jurisdiction.

        "Premium" means the premium payable for the Policy on each  Distribution
Date as specified in the Insurance Agreement.

        "Premium  Percentage"  shall have the meaning set forth in the Insurance
Agreement.

        "Reimbursement  Amount" shall mean, as to any Distribution Date, the sum
of (x) (i) all Insured  Payments paid by the Insurer,  but for which the Insurer
has not been reimbursed prior to such Distribution Date pursuant to Section 4.02
of the Agreement,  plus (ii) interest  accrued  thereon,  calculated at the Late
Payment  Rate from the date the Trustee  received the related  Insured  payments
amounts,  and (y) (i) any other  amounts then due and owing to the Insurer under
the Insurance Agreement, but for which the Insurer has not been reimbursed prior
to such Distribution  Date pursuant to Section 4.02 of the Agreement,  plus (ii)
interest on such amounts at the Late Payment Rate.

        "Trustee" shall mean JPMorgan Chase Bank, or any successor thereto under
the Agreement.
<PAGE>

        Capitalized  terms used herein and not otherwise  defined shall have the
meaning  assigned to them in the  Agreement  as of the date of  execution of the
Policy,  without giving effect to any subsequent amendment to or modification of
the Agreement unless such amendment or modification has been approved in writing
by the Insurer.

        The Insurer hereby agrees that if, as of any  Distribution  Date, it has
become subrogated to the rights of Holders by virtue of a previous payment under
this  Policy,  no recovery of such  payment will occur unless the full amount of
the Holders' allocable  distributions for such Distribution Date can be made. In
so doing,  the  Insurer  does not waive its  rights to seek full  payment of all
Reimbursement  Amounts  owed  to  it  under  the  Agreement  and  the  Insurance
Agreement.

        As  provided  by the Policy,  the  Insurer  will pay any amount  payable
hereunder,  other than  Preference  Amounts,  no later than 12:00 noon, New York
City time, on the later of the Distribution Date on which the related Deficiency
Amount is due or the Business Day following actual receipt in New York, New York
on a Business  Day by the  Insurer of a Notice;  provided  at, if such Notice is
received after 12:00 noon, New York City time, on such Business Day, it shall be
deemed to be received on the  following  Business Day. If any such Notice is not
in proper form or is  otherwise  insufficient  for the  purpose of making  claim
under the Policy,  it shall be deemed not to have been  received for purposes of
this  paragraph,  and the Insurer  shall  promptly so advise the Trustee and the
Trustee may submit an amended or corrected Notice.

        The Insurer shall pay any Preference Amount when due to be paid pursuant
to the Order  referred  to below,  but in any  event no  earlier  than the third
Business  Day  following  receipt by the  Insurer of (i) a  certified  copy of a
final,  non-appealable order of a court or other body exercising jurisdiction in
such  insolvency  proceeding  to the effect that the  Trustee or the Holder,  as
applicable is required to return such Preference  Amount paid during the term of
this Policy  because such  payments were avoided as a  preferential  transfer or
otherwise rescinded nr required to be restored by the Trustee or the Holder (the
"Order"),  (ii) a certificate  by or on behalf of the Trustee that the Order has
been entered and is not subject to any stay,  (iii) an  assignment,  in form and
substance  satisfactory  to the  Insurer,  duly  executed  and  delivered by the
Trustee or the Holder, as applicable,  irrevocably  assigning to the Insurer all
rights and claims of the Trustee or the Holder,  as  applicable,  relating to or
arising under the Agreement  against the estate of the Trustee or otherwise with
respect  to such  Preference  Amount and (iv) a Notice of  Nonpayment  (attached
hereto as Exhibit A) appropriately  completed and executed by the Trustee.  Such
payment shall be disbursed to the receiver, conservator, debtor-in-possession or
trustee in bankruptcy  named in the Order, and not to the Trustee or the Holder,
as applicable,  directly,  unless the Trustee or the Holder, as applicable,  has
made  a  payment  of the  Preference  Amount  to the  court  or  such  receiver,
conservator,  debtor-in-possession  or trustee in bankruptcy named in the Order,
in which case the Insurer will pay the Trustee on behalf of the Holder,  subject
to the  delivery of (a) the items  referred to in clauses (i),  (ii),  (iii) and
(iv) above to the  Insurer and (b)  evidence  satisfactory  to the Insurer  that
payment   has   been   made   to   such   court   or   receiver,    conservator,
debtor-in-possession   or   trustee   in   bankruptcy   named   in  the   Order.
Notwithstanding the foregoing two sentences.  the Insurer shall not be obligated
to pay any Preference  Amount in respect of principal (other than principal paid
in connection  with Realized  Losses) except on the Final  Distribution  Date or
earlier termination of the Trust Fund pursuant to the terms of the Agreement.

        The terms and  provisions of the Agreement  constitute the instrument of
assignment referred to in the second paragraph of the face of this Policy.

        A Premium  will be payable on this Policy on each  Distribution  Date as
provided in the  Agreement,  beginning with the First  Distribution  Date, in an
amount  equal  to the  sum of (a)  1/12th  of the  product  of (i)  the  Premium
Percentage  applicable  to the  Class A  Certificates  and  (ii)  the  aggregate
Certificate  Principal  Balance  of  the  Class  A  Certificates  on  the  prior
Distribution  Date (after giving effect to any  distributions to be made on such
Distribution  Date);  provided that on the First  Distribution Date, the premium
will be  equal  to the  sum of (a)  1/12th  of the  product  of the (i)  Premium
Percentage applicable to the Class A Certificates and (ii) aggregate Certificate
Principal Balance of the Class A Certificates as of the Cut-off Date.

        The Policy to which this Endorsement is attached and of which it forms a
part is hereby  amended to provide that there shall be no  acceleration  payment
due under the  Policy  unless  such  acceleration  is at the sole  option of the
Insurer.  This Policy does not cover  shortfalls,  if any,  attributable  to the
liability of the Trust Fund, any REMIC or the Trutstee for withholding taxes, if
<PAGE>

any (including interest and penalties in respect of any such liability).

        THIS POLICY IS NOT COVERED BY THE  PROPERTY/CASUALTY  INSURANCE SECURITY
FUND SPECIFIED IN ARTICLE 76 OF THE NEW YORK INSURANCE LAW.

        Nothing herein contained shall be held to vary.  alter,  waive or extend
any of the terms, conditions, provisions, agreements or limitations of the above
mentioned  Policy  other than as above  stated.  Notwithstanding  the  foregoing
sentence,  if there is any conflict or inconsistency between the Policy and this
Endorsement, the terms of this Endorsement shall control.

        No waiver of any  rights or powers of the  Insurer,  the  Holders or the
Trustee or consent by any of them shall be valid unless  signed by an authorized
officer or agent thereof.

        This  Policy is issued  under and  pursuant  to, and shall be  construed
under,  the laws of the State of New York (without giving effect to the conflict
of laws provisions thereof).

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]



<PAGE>


        IN WITNESS  WHEREOF,  the  Insurer has caused  this  Endorsement  to the
Policy to be signed by its duly authorized officers.


Managing Director                                  Assistant Secretary

/s/ Thomas J. Adams                                /s/ Melissa L. Velie
-----------------------------                      -----------------------------



<PAGE>
                                    EXHIBIT A
                  To THE CERTIFICATE GUARANTY INSURANCE POLICY
                               Policy No. AB0646BE

                         NOTICE OF NONPAYMENT AND DEMAND
                         FOR PAYMENT OF INSURED AMOUNTS

                                                   Date: [    ]

AMBAC ASSURANCE CORPORATION
One State Street Plaza
New York, New York 10004
Attention: General Counsel

        Reference is made to Certificate  Guaranty Insurance Policy No. AB0646BE
(the  "Policy")  issued  by  Ambac  Assurance   Corporation   ("Ambac").   Terms
capitalized  herein and not otherwise defined shall have the meanings  specified
in the Policy and the Pooling and  Servicing  Agreement,  dated as of January 1,
2003, among Residential Asset Mortgage Products,  Inc.,  Depositor,  Residential
Funding  Corporation,  as Master  Servicer,  and JPMorgan Chase Bank, as Trustee
(without regard to any amendment or supplement  thereto unless such amendment or
supplement has been approved in writing by Ambac) (the "Agreement"), as the case
may be, unless the context otherwise requires.

        The Trustee hereby certifies as follows:

        1.     The Trustee is the Trustee  under the  Agreement  for the Class A
               Certificates.

        2.     The  relevant  Distribution  Date or Final  Distribution  Date is
               [date].

        3.     Patent on the Class A Certificates in respect of the Distribution
               Date is due to be  received  on  _____________________  under the
               Agreement, in an amount equal to $______________.

        [3.    The amount to be paid to the Holders of the Class A  Certificates
               on the Final Distribution Date is $________________.]

        4.     There  is  a  Deficiency   Amount  and/or  Preference  Amount  of
               $_____________  in  respect  of the Class A  Certificates,  which
               amount  is an  Insured  Amount  pursuant  to  the  terms  of  the
               Agreement.

        5.     The sum of  $____________  is the Insured  Amount that is Due for
               Payment.

        6.     The  Trustee  has not  heretofore  made a demand for the  Insured
               Amount in respect of the Distribution Date.

        7.     The Trustee  hereby  requests  the payment of the Insured  Amount
               that is Due for  Payment  be made by Ambac  under the  Policy and
               directs  that payment  under the Policy be made to the  following
               account by bank wire  transfer  of  federal or other  immediately
               available funds in accordance with the terms of the Policy to:

        [Trustee's, account number.]

     8.   The  Trustee  hereby  agrees  that,  following  receipt of the Insured
          Amount from Ambac,  it shall (a) hold such  amounts in trust and apply
          the same  directly  to the  distribution  of  payment  on the  Class A
          Certificates when due; (b) not apply such funds for any other purpose;
          (c) deposit such funds to the  Certificate  Account and not  commingle
          such funds with other funds held by the  Trustee  and (d)  maintain an
          accurate  record  of  such  payments  with  respect  to  the  Class  A
          Certificates  and the  corresponding  claim on the Policy and proceeds
          thereof.
<PAGE>

        ANY PERSON  WHO  KNOWINGLY  AND WITH  INTENT TO  DEFRAUD  ANY  INSURANCE
COMPANY OR OTHER PERSON FILES AN APPLICATION FOR INSURANCE OR STATEMENT OF CLAIM
CONTAINING  ANY  MATERIALLY  FALSE  INFORMATION;  OR CONCEALS FOR THE PURPOSE OF
MISLEADING,   INFORMATION  CONCERNING  ANY  FACT  MATERIAL  THERETO,  COMMITS  A
FRAUDULENT  INSURANCE ACT, WHICH IS AND SHALL ALSO BE SUBJECT TO A CIVIL PENALTY
NOT TO EXCEED FIVE  THOUSAND  DOLLARS AND THE STATED VALUE OF THE CLAIM FOR EACH
SUCH VIOLATION.

                                            [Name of Trustee]

                                            By:
                                               ---------------------------------

                                            Title:  ________________________

                                                            (Officer)

<PAGE>