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                                                                    Exhibit 10.3

                ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

      THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this "Assignment"),
dated as of June 1, 2004, is entered into among J.P. Morgan Acceptance
Corporation I, a Delaware corporation (the "Depositor"), Wachovia Bank, National
Association, as trustee (the "Trustee") of J.P. Morgan Mortgage Trust 2004-A3
(the "Trust"), Sunset Financial Resources, Inc., a Maryland corporation
("Sunset"), and Bank of America, N.A., a national banking association ("BANA").

                                    RECITALS

      WHEREAS BANA, as seller and as servicer, and Morgan Stanley Mortgage
Capital Inc., as purchaser ("Morgan Stanley"), entered into a certain Flow
Mortgage Loan Sale and Servicing Agreement, dated October 1, 2003, as amended by
Amendment No. 1 thereto dated as of February 24, 2004 (the "Agreement"),
pursuant to which Morgan Stanley acquired certain mortgage loans (the "Mortgage
Loans") pursuant to the terms of the Agreement and BANA agreed to service such
Mortgage Loans;

      WHEREAS, pursuant to an Assignment, Assumption and Recognition Agreement
dated March 30, 2004 relating to the Agreement, Sunset acquired from Morgan
Stanley all of Morgan Stanley's right, title and interest in certain of the
Mortgage Loans (the "Sunset Mortgage Loans") and BANA agreed to service such
Sunset Mortgage Loans pursuant to the Agreement;

      WHEREAS the Depositor has agreed, on the terms and conditions contained
herein, to purchase from Sunset certain of the Sunset Mortgage Loans (the
"Specified Mortgage Loans") which are subject to the provisions of the Agreement
and are listed on the mortgage loan schedule attached as Exhibit I hereto (the
"Specified Mortgage Loan Schedule"); and

      WHEREAS the Trustee, on behalf of the Trust, has agreed, on the terms and
conditions contained herein, to purchase from the Depositor the Specified
Mortgage Loans;

      NOW, THEREFORE, in consideration of the mutual promises contained herein
and other good and valuable consideration (the receipt and sufficiency of which
are hereby acknowledged), the parties agree as follows:

      1. Assignment and Assumption

      (a) On and as of the date hereof, Sunset hereby sells, assigns and
transfers to the Depositor all of its right, title and interest in the Specified
Mortgage Loans and all rights and obligations related thereto as provided under
the Agreement to the extent relating to the Specified Mortgage Loans (without
recourse or warranty except as may be otherwise specifically provided herein),
the Depositor hereby accepts such assignment from Sunset (the "First Assignment
and Assumption"), and BANA hereby acknowledges the First Assignment and
Assumption.

          Sunset specifically reserves and does not assign to the Depositor
hereunder any and all right, title and interest in, to and under and all
obligations of Sunset with respect to any Sunset Mortgage Loans subject to the
Agreement which are not the Specified Mortgage Loans.

      (b) On and as of the date hereof, immediately after giving effect to the
First Assignment and Assumption, the Depositor hereby sells, assigns and
transfers to the Trustee, on

<PAGE>

behalf of the Trust, all of its right, title and interest in the Specified
Mortgage Loans and all rights and obligations related thereto as provided under
the Agreement to the extent relating to the Specified Mortgage Loans, and the
Trustee, on behalf of the Trust, hereby accepts such assignment from the
Depositor (the "Second Assignment and Assumption"), and BANA hereby acknowledges
the Second Assignment and Assumption.

      (c) On and as of the date hereof, Sunset represents and warrants to the
Depositor and the Trustee that Sunset has not taken any action that would serve
to impair or encumber the respective ownership interests of the Depositor and
the Trustee in the Specified Mortgage Loans since the date of Sunset's
acquisition of the Specified Mortgage Loans.

      2. Recognition of Trustee

      (a) From and after the date hereof, both Sunset and BANA shall note the
transfer of the Specified Mortgage Loans to the Trustee, in their respective
books and records and shall recognize the Trustee, on behalf of the Trust, as of
the date hereof, as the owner of the Specified Mortgage Loans, and BANA shall
service the Specified Mortgage Loans for the benefit of the Trust pursuant to
the Agreement, the terms of which are incorporated herein by reference. It is
the intention of BANA, the Depositor, the Trustee and Sunset that this
Assignment shall be binding upon and inure to the benefit of the Depositor, the
Trustee and Sunset and their respective successors and assigns.

      (b) Without in any way limiting the foregoing, the parties confirm that
this Assignment includes the rights relating to amendments and waivers under the
Agreement. Accordingly, the right of Sunset to consent to any amendment of the
Agreement and its rights concerning waivers as set forth in Sections 25 and 21,
respectively, of the Agreement shall be exercisable, to the extent any such
amendment or waiver affects the Specified Mortgage Loans or any of the rights or
obligations under the Agreement with respect thereto (including, without
limitation, the servicing of the Specified Mortgage Loans), by the Trustee as
assignee of Sunset.

      3. Representations and Warranties

      (a) The Depositor represents and warrants that it is a sophisticated
investor able to evaluate the risks and merits of the transactions contemplated
hereby, and that it has not relied in connection therewith upon any statements
or representations of BANA or Sunset other than those contained in the Agreement
or this Assignment.

      (b) Each of the parties hereto represents and warrants that it is duly and
legally authorized to enter into this Assignment.

      (c) Each of the parties hereto represents and warrants that this
Assignment has been duly authorized, executed and delivered by it and (assuming
due authorization, execution and delivery thereof by each of the other parties
hereto) constitutes its legal, valid and binding obligation, enforceable against
it in accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by general equitable principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law).

      (d) BANA hereby restates (x) the representations and warranties contained
in Subsection 7.01 of the Agreement as of November 24, 2003 and (y) the
representations and warranties contained in Subsection 7.02 of the Agreement as
of the Closing Date (as defined in the Pooling and Servicing Agreement referred
to below), with respect to each of the Specified Mortgage Loans that were sold
by it under the Agreement, to and for the benefit of the Depositor, the Trustee
and the Trust, and by this reference incorporates such representations and
warranties herein, as of such Closing Date.

                                       2

<PAGE>

      4. BANA hereby acknowledges that Wells Fargo Bank, N.A. has been appointed
as the master servicer (the "Master Servicer") of the Specified Mortgage Loans
pursuant to the pooling and servicing agreement dated as of the date hereof
among the Depositor, the Master Servicer, the Securities Administrator and the
Trustee (the "Pooling and Servicing Agreement") for Mortgage Pass-Through
Certificates, Series 2004-A3 and, therefore, has the right to enforce all
obligations of BANA under the Agreement with respect to the Specified Mortgage
Loans. Such rights will include, without limitation, the right to terminate BANA
under the Agreement with respect to the Specified Mortgage Loans upon the
occurrence of an event of default thereunder, the right to receive all
remittances required to be made by BANA under the Agreement with respect to the
Specified Mortgage Loans, the right to receive all monthly reports and other
data required to be delivered by BANA under the Agreement with respect to the
Specified Mortgage Loans, the right to examine the books and records of BANA,
indemnification rights and the right to exercise certain rights of consent and
approval relating to actions taken by Sunset with respect to the Specified
Mortgage Loans. BANA shall make all distributions under the Agreement to the
Master Servicer by wire transfer of immediately available funds to:

                  Wells Fargo Bank, N.A.
                  ABA Number: 121-000-248
                  Account Name: SAS Clearing
                  Account number: 3970771416
                  For further credit to: J.P. Morgan Mortgage Trust 2004-A3,
                                         Distribution Account Number: 18172300

      BANA shall deliver all reports required to be delivered under the
Agreement to the Master Servicer at the following address:

                  Wells Fargo Bank, N.A.
                  9062 Old Annapolis Road
                  Columbia, Maryland 21045
                  Attention: Client Manager
                  Telecopier: (410) 715-2380

      5. Establishment of Custodial Account

      The Servicer shall establish and maintain a separate Custodial Account in
the name of the Trustee, in trust for J.P. Morgan Mortgage Trust 2004-A3, for
all funds collected and received on the Specified Mortgage Loans.

      6. Amendments to the Agreement

      The parties to this Assignment hereby agree to amend the Agreement as
follows:

      (a) The definition of "Substitute Mortgage Loan" is hereby amended solely
with respect to the Specified Mortgage Loans by deleting "and" immediately prior
to clause (viii) and by inserting the following:

      "(ix) have a Stated Principal Balance, after deduction of the principal
      portion of the Monthly Payment due in the month of substitution, not in
      excess of, and not more than 10% less than, the Stated Principal Balance
      of the Deleted Mortgage Loan; (x) have a Lifetime Rate Cap not less than
      (and not more than two percentage points greater than) the Lifetime Rate
      Cap of the Deleted Mortgage Loan; (xi) have a gross margin not less than
      that of the Deleted Mortgage Loan; (xii) have the same Adjustment Date as
      that of the Deleted Mortgage Loan; (xiii) have a

                                       3

<PAGE>

      minimum Mortgage Interest Rate not less than that of the Deleted Mortgage
      Loan; (xiv) not permit conversion of the related Mortgage Interest Rate to
      a permanent fixed Mortgage Interest Rate; (xv) have the same Index as that
      of the Deleted Mortgage Loan; and (xvi) shall be accompanied by an Opinion
      of Counsel that such Substitute Mortgage Loan would not adversely affect
      the REMIC status of any REMIC created hereunder or would not otherwise be
      prohibited by this Pooling and Servicing Agreement."

      (b) With respect to the Specified Mortgage Loans, "Eligible Investments"
shall have the meaning of "Permitted Investments" as defined in the Pooling and
Servicing Agreement.

      (c) Section 1 is hereby amended by inserting the following new definition:

      "Rating Agency: Each of Standard & Poor's, a division of The McGraw-Hill
      Companies, Inc., Fitch Ratings and Moody's Investor Services, Inc., as
      applicable."

      (d) The second and fourth sentences of Subsection 11.04 are hereby deleted
and replaced with the following:

      "Such Custodial Account shall be (i) an account or accounts maintained
      with a federal or state chartered depository institution or trust company
      the long-term unsecured debt obligations of which are rated by each Rating
      Agency in one of its two highest rating categories or the short-term
      unsecured debt obligations of which have the highest short-term ratings of
      each Rating Agency at the time any amounts are held on deposit therein, or
      (ii) an account or accounts in a depository institution or trust company
      in which such accounts are insured by the FDIC or the SAIF (to the limits
      established by the FDIC or the SAIF) and the uninsured deposits in which
      accounts are otherwise secured such that, as evidenced by an Opinion of
      Counsel delivered to the Trustee and to each Rating Agency, the
      Certificateholders have a claim with respect to the funds in such account
      or a perfected first priority security interest against any collateral
      (which shall be limited to Eligible Investments) securing such funds that
      is superior to claims of any other depositors or creditors of the
      depository institution or trust company in which such account is
      maintained, or (iii) a trust account or accounts maintained with the trust
      department of a federal or state chartered depository institution or trust
      company which is subject to regulations regarding fiduciary funds on
      deposit similar to Title 12 of the U.S. Code of Federal Regulation Section
      9.10(b) and which has corporate trust powers and is acting in its
      fiduciary capacity, or (iv) any other account acceptable to each Rating
      Agency, as evidenced by a signed writing delivered by each Rating Agency."

      (e) Subsection 11.04(i) of the Agreement is hereby amended and restated in
its entirety as follows:

            "(i) with respect to each Principal Prepayment, an amount (to be
      paid by the Servicer out of its own funds) which, when added to all
      amounts allocable to interest received in connection with the Principal
      Prepayment, equals one month's interest on the amount of principal so
      prepaid for the month of prepayment at the applicable Remittance Rate;
      provided, however, that the Servicer's aggregate obligations under this
      paragraph for any month shall be limited to the total amount of Servicing
      Fees actually received with respect to the Mortgage Loans by the Servicer
      during such month; and"

      (f) The fourth paragraph of Subsection 11.13(c) of the Agreement is hereby
amended and restated in its entirety as follows:

                                       4

<PAGE>

      "With respect to any REO Property, the deed or certificate of sale shall
      be taken in the name of the Purchaser, or its designee. The Trustee's name
      shall be placed on the title to such REO Property solely as the Trustee
      hereunder and not in its individual capacity. The Servicer shall ensure
      that the title to such REO Property references the Agreement and the
      Purchaser's (or its designee's) capacity thereunder. Pursuant to its
      efforts to sell such REO Property, the Servicer shall either itself or
      through an agent selected by the Servicer protect and conserve such REO
      Property in the same manner and to such extent as is customary in the
      locality where such REO Property is located and may, incident to its
      conservation and protection of the interests of the Purchaser, or its
      designee, rent the same, or any part thereof, as the Servicer deems to be
      in the best interest of the Purchaser, or its designee, for the period
      prior to the sale of such REO Property. The Servicer shall prepare for and
      deliver to the Purchaser, or its designee, a statement with respect to
      each REO Property that has been rented showing the aggregate rental income
      received and all expenses incurred in connection with the maintenance of
      such REO Property at such times as is necessary to enable the Purchaser,
      or its designee, to comply with the reporting requirements of the REMIC
      Provisions. The net monthly rental income, if any, from such REO Property
      shall be deposited in the Certificate Account no later than the close of
      business on each Determination Date. The Servicer shall perform the tax
      reporting and withholding required by Sections 1445 and 6050J of the Code
      with respect to foreclosures and abandonments, the tax reporting required
      by Section 6050H of the Code with respect to the receipt of mortgage
      interest from individuals and any tax reporting required by Section 6050P
      of the Code with respect to the cancellation of indebtedness by certain
      financial entities, by preparing such tax and information returns as may
      be required, in the form required, and delivering the same to the
      Purchaser, or its designee, for filing.

      In the event that the Purchaser, or its designee, acquires any Mortgaged
      Property as aforesaid or otherwise in connection with a default or
      imminent default on a Mortgage Loan, the Servicer shall dispose of such
      Mortgaged Property as soon as practicable in a manner that maximizes the
      Liquidation Proceeds thereof, but in no event later than three years after
      its acquisition by the Purchaser, or its designee. In that event, the
      Purchaser, or its designee, shall have been supplied with an Opinion of
      Counsel to the effect that the holding by the Purchaser, or its designee,
      of such Mortgaged Property subsequent to a three-year period, if
      applicable, will not result in the imposition of taxes on "prohibited
      transactions" of any REMIC as defined in section 860F of the Code or cause
      any REMIC to fail to qualify as a REMIC at any time, the Purchaser, or its
      designee, may continue to hold such Mortgaged Property (subject to any
      conditions contained in such Opinion of Counsel) after the expiration of
      such three-year period. Notwithstanding any other provision of this
      Agreement, no Mortgaged Property acquired by the Purchaser, or its
      designee, shall be rented (or allowed to continue to be rented) or
      otherwise used for the production of income by or on behalf of the
      Purchaser, or its designee, in such a manner or pursuant to any terms that
      would (i) cause such Mortgaged Property to fail to qualify as "foreclosure
      property" within the meaning of section 860G(a)(8) of the Code or (ii)
      subject any REMIC to the imposition of any federal, state or local income
      taxes on the income earned from such Mortgaged Property under Section
      860G(c) of the Code or otherwise, unless the Servicer has agreed to
      indemnify and hold harmless the Purchaser, or its designee, with respect
      to the imposition of any such taxes."

      (g) The first four sentences of Subsection 11.16 of the Agreement is
hereby amended and restated in its entirety as follows:

                                       5

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      "Statements to the Purchaser. Not later than the 10th calendar day of each
      month (or, if such 10th day is not a Business Day, the following Business
      Day), the Servicer shall forward to the Master Servicer in hard copy and
      electronic format a statement, certified by a Servicing Officer, setting
      forth (a) the amount of the distribution to be made on the Remittance Date
      in the current calendar month which is allocable to principal and
      allocable to interest; (b) the amount of servicing compensation received
      by the Servicer during the prior calendar month; (c) the aggregate Stated
      Principal Balance and the aggregate unpaid principal balance of the
      Mortgage Loans as of the last day of the preceding month; and (d) the paid
      through date for each Mortgage Loan. Such statement shall also include
      information regarding delinquencies on Mortgage Loans, indicating the
      number and aggregate principal amount of Mortgage' Loans which are either
      one (1), two (2) or three (3) or more months delinquent and the book value
      of any REO Property, or such other mortgage loan level data as agreed upon
      by the Servicer and the Master Servicer, and the monthly reports
      substantially in the form of Exhibit 8 attached hereto."

      (h) Subsection 11.20 is hereby amended and restated in its entirety as
follows:

      "Annual Statement as to Compliance. (a) The Servicer shall deliver to the
      Purchaser and the Master Servicer, on or before March 15th each year
      beginning March 15, 2004, an Officer's Certificate stating that (i) a
      review of the activities of the Servicer during the preceding calendar
      year and if performance under this Agreement has been made under such
      officer's supervision, and (ii) to the best of such officer's knowledge,
      based on such review, the Servicer has fulfilled all its obligations under
      this Agreement throughout such year, or, if there has been a default in
      the fulfillment of any such obligation, specifying each such default known
      to such officer and the nature and status thereof and the action being
      taken by the Servicer to cure such default.

            (b) For so long as the Mortgage Loans are being master serviced by a
      master servicer in a Securitization (the "Master Servicer"), by the later
      of March 15 or 30 days prior to the date on which the Form 10-K is
      required to be filed with the Securities and Exchange Commission of each
      year (or if not a Business Day, the immediately preceding Business Day),
      an officer of the Servicer shall execute and deliver an Officer's
      Certificate to the Master Servicer for the benefit of such Master Servicer
      and its officers, directors and affiliates, certifying as to the following
      matters:

                  (i) Based on my knowledge, the information in the Annual
            Statement as to 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 Master Servicer taken as a whole,
            does not contain any untrue statement of a material fact or omit to
            state a material fact necessary to make the statements made, in
            light of the circumstances under which such statements were made,
            not misleading as of the last day of the month covered by such
            servicing reports;

                  (ii) Based on my knowledge, the servicing information required
            to be provided to the Master Servicer by the Servicer under the
            Agreement has been provided to the Master Servicer;

                  (iii) I am responsible for reviewing the activities performed
            by the Servicer under the Agreement and based upon the review
            required by the Agreement, and except as disclosed in the Annual
            Statement as to Compliance or the Annual Independent Public
            Accountant's Servicing Report submitted to the Master Servicer, the
            Servicer has, for the period covered by the Form 10-K fulfilled its
            obligations under the Agreement; and

                                       6

<PAGE>

                  (iv) The Servicer has disclosed to the Servicer's certified
            public accountants all significant deficiencies relating to the
            Servicer's compliance with the minimum servicing standards in
            accordance with a review conducted in compliance with the Uniform
            Single Attestation Program for Mortgage Bankers or similar standard
            as set forth in the Agreement.

            (c) The Servicer shall indemnify and hold harmless the Master
      Servicer and its officers, directors, agents and affiliates from and
      against any losses, damages, penalties, fines, forfeitures, reasonable
      legal fees and related costs, judgments and other costs and expenses
      arising out of or based upon a breach by the Servicer or any of its
      officers, directors, agents or affiliates of its obligations under this
      Section 11.20 or the negligence, bad faith or willful misconduct of the
      Servicer in connection therewith. If the indemnification provided for
      herein is unavailable or insufficient to hold harmless the Master
      Servicer, then the Servicer agrees that it shall contribute to the amount
      paid or payable by the Master Servicer as a result of the losses, claims,
      damages or liabilities of the Master Servicer in such proportion as is
      appropriate to reflect the relative fault of the Master Servicer on the
      one hand and the Servicer on the other in connection with a breach of the
      Servicer's obligations under this Section 11.20 or the Servicer's
      negligence, bad faith or willful misconduct in connection therewith."

      (i) Subsection 11.21 of the Agreement is hereby amended and restated in
its entirety as follows:

      "Annual Independent Public Accountants' Servicing Report. On or before
      March 15th of each year beginning March 15, 2004, the Servicer at its
      expense shall cause a firm of independent public accountants which is a
      member of the American Institute of Certified Public Accountants to
      furnish a statement to the Purchaser and the Master Servicer to the effect
      that such firm has, with respect to the Servicer's overall servicing
      operations, examined such operations in accordance with the requirements
      of the Uniform Single Attestation Program for Mortgage Bankers, stating
      such firm's conclusions relating thereto."

      (j) The word "or" is deleted from the end of Subsection 13.01(f), the word
"or" is added at the end of Subsection 13.01(g) and the following paragraph is
hereby incorporated into the Agreement as new Subsection 13.01(h):

            "(h) failure by the Servicer to duly perform, within the required
      time period, its obligations under Subsections 11.20 or 11.21 which
      failure continues unremedied for a period of fifteen (15) days after the
      date on which written notice of such failure, requiring the same to be
      remedied, shall have been given to the Servicer by any party to this
      Agreement or by any master servicer responsible for master servicing the
      Mortgage Loans pursuant to a Securitization of such Mortgage Loans;"

      (k) The following paragraph is hereby incorporated into the Agreement as
new Section 32:

      "Third Party Beneficiary. For purposes of this Agreement, including but
      not limited to Subsections 11.20 and 11.21, any Master Servicer shall be
      considered a third party beneficiary to this Agreement entitled to all the
      rights and benefits accruing to any Master Servicer herein as if it were a
      direct party to this Agreement."

      (l) Exhibit 8 to the Agreement is hereby replaced in its entirety with the
Amended and Restated Exhibit 8 attached to this Assignment as Exhibit II.

                                       7

<PAGE>

      (m) Exhibit 13 to the Agreement is hereby deleted in its entirety.

      7. Indemnification by Master Servicer

      The Master Servicer shall indemnify and hold harmless BANA and its
affiliates, and in each case, its officers, directors and agents from and
against any losses, damages, penalties, fines, forfeitures, reasonable legal
fees and related costs, judgments and other costs and expenses arising out of or
based upon a breach by the Master Servicer or any of its officers, directors,
agents or affiliates of its obligations in connection with the preparation,
filing and certification of any Form 10-K pursuant to the Pooling and Servicing
Agreement or the negligence, bad faith or willful misconduct of the Master
Servicer in connection therewith. In addition, the Master Servicer shall
indemnify and hold harmless BANA and its affiliates, and in each case, its
officers, directors and agents from and against any losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments and other
costs and expenses arising out of or based upon a breach by any Servicer (as
defined in the Pooling and Servicing Agreement), other than BANA, of its
obligations in connection with any back-up certification (or any other back-up
documents) to any certification of any Form 10-K required to be provided by the
Master Servicer, but solely to the extent the Master Servicer receives amounts
from such Servicer in connection with any indemnification provided by such
Servicer (in each case as defined in the Pooling and Servicing Agreement) to the
Master Servicer.

      8. Continuing Effect

      Except as contemplated hereby, the Agreement shall remain in full force
and effect in accordance with its terms.

      9. Governing Law

      This Assignment and the rights and obligations hereunder shall be governed
by and construed in accordance with the internal laws of the State of New York.

      10. Notices

      Any notices or other communications permitted or required under the
Agreement to be made to Sunset, the Depositor, the Trustee and BANA shall be
made in accordance with the terms of the Agreement and shall be sent to the
Depositor and Trustee as follows:

      In the case of Sunset:

                  Sunset Financial Resources, Inc.
                  10245 Centurion Parkway North
                  Suite 305
                  Jacksonville, Florida 32256
                  Attention: Byron Boston
                  Telephone: 904-425-4351
                  Facsimile: 904-425-4755

      In the case of the Depositor:

                  J.P. Morgan Acceptance Corporation I
                  270 Park Avenue New York,
                  New York 10017

                                       8

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                  Attention: J.P. Morgan Mortgage Trust 2004-A3

      In the case of the Trustee:

                  Wachovia Bank, National Association
                  401 South Tryon Street
                  Charlotte, North Carolina 28288-1179
                  Attention: Structured Finance Trust Services,
                  J.P. Morgan Mortgage Trust 2004-A3

      In the case of BANA:

                  Bank of America, N.A.
                  475 Crosspoint Parkway
                  Getzville, New York 10468-9000
                  Attention: Servicing Manager

or to such other address as may hereafter be furnished by the Depositor and the
Trustee to the parties in accordance with the provisions of the Agreement.

      11. Ratification

      Except as modified and expressly amended by this Assignment, the Agreement
is in all respects ratified and confirmed, and all terms, provisions and
conditions thereof shall be and remain in full force and effect.

      12. Counterparts

      This Assignment may be executed in counterparts, each of which when so
executed shall be deemed to be an original and all of which when taken together
shall constitute one and the same instrument.

      13. Definitions

      Any capitalized term used but not defined in this Assignment has the same
meaning as in the Agreement.

                            [SIGNATURE PAGE FOLLOWS]

                                       9

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      IN WITNESS WHEREOF, the parties hereto have executed this Assignment the
day and year first above written.

                                          SUNSET FINANCIAL RESOURCES, INC.

                                          By: /s/ Thomas G. Manuel
                                              --------------------------------
                                              Name: Thomas G. Manuel
                                              Title: EVP

                                          J.P. MORGAN ACCEPTANCE
                                          CORPORATION I

                                          By: /s/ Jonathan Davis
                                              ---------------------------------
                                              Name: Jonathan Davis
                                              Title: Vice President

                                          WACHOVIA BANK, NATIONAL
                                          ASSOCIATION, as Trustee of J.P. Morgan
                                          Mortgage Trust 2004-A3

                                          By: /s/ Stephanie J. Aronovitch
                                              ---------------------------------
                                              Name: Stephanie J. Aronovitch
                                              Title: Assistant Vice President

                                          BANK OF AMERICA, N.A.

                                          By: /s/ Jill E. Payne
                                              ---------------------------------
                                              Name: Jill E. Payne
                                              Title: Vice President

Acknowledged and Agreed:
WELLS FARGO BANK, N.A., as Master Servicer


By: /s/ Ruth Fussell
    ---------------------------------------
    Name: Ruth Fussell
    Title: Vice President