Unassociated Document







 

EXHIBIT 10.1


 


SEQUOIA RESIDENTIAL FUNDING, INC.


Depositor


 


 


  


WELLS FARGO BANK, N.A.


 Master Servicer and Securities Administrator












and












CITIBANK, N.A.


 Trustee












___________________________







POOLING AND SERVICING AGREEMENT







dated as of February 1, 2011


___________________________





































SEQUOIA MORTGAGE TRUST 2011-1


 




  





  











  






 


TABLE OF CONTENTS


 




	
ARTICLE I DEFINITIONS

	7
	
Section 1.01

	
Definitions

	
7


	
Section 1.02

	
Calculations Respecting Mortgage Loans

	
29


	
ARTICLE II DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES

	29
	
Section 2.01

	
Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans

	
29


	
Section 2.02

	
Acceptance of Trust Fund by Trustee; Review of Documentation for Trust Fund

	
30


	
Section 2.03

	
Representations and Warranties of the Depositor

	
30


	
Section 2.04

	
Discovery of Seller Breach; Repurchase of Mortgage Loans

	
32


	
Section 2.05

	
Obligations in Respect of Alleged Breach of Originator Representations and Warranties

	
33


	
Section 2.06

	
Intention of Parties

	
34


	
Section 2.07

	
Controlling Holder Purchase Right and Assumption of Servicing Agreement Rights

	
35


	
ARTICLE III THE CERTIFICATES

	36
	
Section 3.01

	
The Certificates

	
36


	
Section 3.02

	
Registration

	
36


	
Section 3.03

	
Transfer and Exchange of Certificates

	
37


	
Section 3.04

	
Cancellation of Certificates

	
40


	
Section 3.05

	
Replacement of Certificates

	
40


	
Section 3.06

	
Persons Deemed Owners

	
41


	
Section 3.07

	
Temporary Certificates

	
41


	
Section 3.08

	
Appointment of Paying Agent

	
41


	
Section 3.09

	
Book-Entry Certificates

	
42


	
ARTICLE IV ADMINISTRATION OF THE TRUST FUND

	43
	
Section 4.01

	
Custodial Accounts; Distribution Account

	
43


	
Section 4.02

	
Reports to Trustee and Certificateholders

	
44


	
ARTICLE V DISTRIBUTIONS TO HOLDERS OF CERTIFICATES

	47
	
Section 5.01

	
Distributions Generally

	
47


	
Section 5.02

	
Distributions From the Distribution Account

	
47


	
Section 5.03

	
Allocation of Losses

	
49


	
Section 5.04

	
Servicer Obligations

	
50


	
Section 5.05

	
Advances by Master Servicer

	
50


	
Section 5.06

	
Master Servicer Compensating Interest Payments

	
50


	
ARTICLE VI CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR; EVENTS OF DEFAULT

	50
	
Section 6.01

	
Duties of Trustee and the Securities Administrator

	
50


	
Section 6.02

	
Certain Matters Affecting the Trustee and the Securities Administrator

	
53


	
Section 6.03

	
Trustee and Securities Administrator Not Liable for Certificates

	
54


	
Section 6.04

	
Trustee and Securities Administrator May Own Certificates

	
55


	
Section 6.05

	
Eligibility Requirements for Trustee and Securities Administrator

	
55


	
Section 6.06

	
Resignation and Removal of Trustee and the Securities Administrator

	
55


	
Section 6.07

	
Successor Trustee and Successor Securities Administrator

	
56


	
Section 6.08

	
Merger or Consolidation of Trustee or Securities Administrator

	
57


	
Section 6.09

	
Appointment of Co-Trustee, Separate Trustee or Custodian

	
57


	
Section 6.10

	
Authenticating Agents

	
58


	
Section 6.11

	
Indemnification of the Trustee, the Securities Administrator and the Master Servicer

	
59





 




  





2











  




 




	
Section 6.12

	
Fees and Expenses of the Securities Administrator, the Certificate Registrar, the Paying Agent, Authenticating Agent, the Trustee and the Custodian

	
60


	
Section 6.13

	
Collection of Monies

	
60


	
Section 6.14

	
Events of Default; Trustee to Act; Appointment of Successor

	
60


	
Section 6.15

	
Additional Remedies of Trustee Upon Event of Default

	
64


	
Section 6.16

	
Waiver of Defaults

	
64


	
Section 6.17

	
Notification to Holders

	
64


	
Section 6.18

	
Directions by Certificateholders and Duties of Trustee During Event of Defaul

	
65


	
Section 6.19

	
Action Upon Certain Failures of the Master Servicer and Upon Event of Default

	
65


	
Section 6.20

	
Preparation of Tax Returns and Other Reports

	
65


	
Section 6.21

	
Reporting to the Commission

	
66


	
Section 6.22

	
Annual Statements of Compliance

	
71


	
Section 6.23

	
Annual Assessments of Compliance

	
71


	
Section 6.24

	
Accountant’s Attestation

	
72


	
Section 6.25

	
Intention of the Parties and Interpretation; Indemnification

	
73


	
ARTICLE VII PURCHASE OF MORTGAGE LOANS AND TERMINATION OF THE TRUST FUND

	74
	
Section 7.01

	
Purchase of Mortgage Loans; Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans

	
74


	
Section 7.02

	
Procedure Upon Redemption and Termination of Trust Fund

	
75


	
Section 7.03

	
Additional Trust Fund Termination Requirements

	
75


	
ARTICLE VIII RIGHTS OF CERTIFICATEHOLDERS

	76
	
Section 8.01

	
Limitation on Rights of Holders

	
76


	
Section 8.02

	
Access to List of Holders

	
77


	
Section 8.03

	
Acts of Holders of Certificates

	
77


	
ARTICLE IX  ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER

	78
	
Section 9.01

	
Duties of the Master Servicer; Enforcement of Servicer’s and Master Servicer’s Obligations

	
78


	
Section 9.02

	
Assumption of Master Servicing by Trustee

	
80


	
Section 9.03

	
Representations, Warranties and Covenants of the Master Servicer

	
80


	
Section 9.04

	
Compensation to the Master Servicer

	
82


	
Section 9.05

	
Merger or Consolidation

	
83


	
Section 9.06

	
Resignation of Master Servicer

	
83


	
Section 9.07

	
Assignment or Delegation of Duties by the Master Servicer

	
83


	
Section 9.08

	
Limitation on Liability of the Master Servicer and Others

	
84


	
Section 9.09

	
Indemnification; Third-Party Claims

	
84


	
Section 9.10

	
Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy

	
84


	
ARTICLE X REMIC ADMINISTRATION

	85
	
Section 10.01

	
REMIC Administration

	
85


	
Section 10.02

	
Prohibited Transactions and Activities

	
86


	
Section 10.03

	
Indemnification With Respect to Prohibited Transactions or Loss of REMIC Status

	
87


	
Section 10.04

	
REO Property

	
87


	
ARTICLE XI MISCELLANEOUS PROVISIONS

	88
	
Section 11.01

	
Binding Nature of Agreement; Assignment

	
88


	
Section 11.02

	
Entire Agreement

	
88





 




  





3











  




 




	
Section 11.03

	
Amendment

	
88


	
Section 11.04

	
Voting Rights

	
89


	
Section 11.05

	
Provision of Information

	
89


	
Section 11.06

	
Governing Law

	
90


	
Section 11.07

	
Notices

	
90


	
Section 11.08

	
Severability of Provisions

	
91


	
Section 11.09

	
Indulgences; No Waivers

	
92


	
Section 11.10

	
Headings Not to Affect Interpretation

	
92


	
Section 11.11

	
Benefits of Agreement

	
92


	
Section 11.12

	
Special Notices to the Rating Agency

	
92


	
Section 11.13

	
Conflicts

	
93


	
Section 11.14

	
Counterparts

	
93


	
Section 11.15

	
No Petitions

	
93














ATTACHMENTS


 




	
Exhibit A

	
Forms of Certificates


	
Exhibit B

	
Form of Residual Certificate Transfer Affidavit (Transferee)


	
Exhibit C

	
Residual Certificate Transfer Affidavit (Transferor)


	
Exhibit D

	
Form of Custodial Agreement


	
Exhibit E-1

	
Form of Rule 144A Transfer Certificate


	
Exhibit E-2

	
Form of Purchaser’s Letter for Qualified Institutional Buyers


	
Exhibit F

	
Form of Purchaser’s Letter for Institutional Accredited Investor


	
Exhibit G

	
Form of ERISA Transfer Affidavit


	
Exhibit H

	
List of Purchase and Servicing Agreements (The “Servicing Agreements”)


	
Exhibit I

	
Additional Disclosure Notification


	
Exhibit J

	
Back-up Certificate to Form 10-K Certificate


	
Exhibit K

	
Servicing Criteria to Be Addressed in Assessment of Compliance


	
Exhibit L

	
Additional Form 10-D Disclosure


	
Exhibit M

	
Additional Form 10-K Disclosure


	
Exhibit N

	
Additional Form 8-K Disclosure


	  	  
	
Schedule A

	
Mortgage Loan Schedule














  





4











  




 






This POOLING AND SERVICING AGREEMENT, dated as of February 1, 2011 (the “Agreement”), by and among SEQUOIA RESIDENTIAL FUNDING, INC., a Delaware corporation, as depositor (the “Depositor”), CITIBANK, N.A., a national banking association, not in its individual capacity but solely as trustee (the “Trustee”) and WELLS FARGO BANK, N.A., a national banking association, in its dual capacities as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”).


 


PRELIMINARY STATEMENT


 


The Depositor has acquired the Mortgage Loans from the Seller and at the Closing Date is the owner of the Mortgage Loans and related property being conveyed by the Depositor to the Trustee hereunder for inclusion in the Trust Fund.  On the Closing Date, the Depositor will acquire the Certificates from the Trustee as consideration for the Depositor’s transfer to the Trust Fund of the Mortgage Loans, and the other property constituting the Trust Fund.  The Depositor has duly authorized the execution and delivery of this Agreement to provide for the conveyance to the Trustee of the Mortgage Loans and the related property constituting the Trust Fund.  All covenants and agreements made
by the Seller in the Mortgage Loan Purchase and Sale Agreement, each Servicing Agreement and in this Agreement and by the Depositor, the Master Servicer, the Securities Administrator and the Trustee herein, with respect to the Mortgage Loans and the other property constituting the Trust Fund, are for the benefit of the Holders from time to time of the Certificates.  The Depositor, the Master Servicer, the Securities Administrator and the Trustee are entering into this Agreement, and the Trustee is accepting the Trust Fund created hereby, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged.


 


As provided herein, the Trustee, at the direction of the Securities Administrator, shall elect that the Trust Fund be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC,” respectively).  Each Certificate, other than the Class R Certificate and the Class LT-R Certificate, is hereby designated as a regular interest in the Upper-Tier REMIC, as described herein.  The Class R Certificate represents and is hereby designated as the sole class of residual interest in the Upper-Tier REMIC.


 


The Class LT-R Certificate evidences ownership of the sole class of residual interest in the Lower-Tier REMIC (the “LT-R Interest”).  The Lower-Tier REMIC shall hold as its assets all property of the Trust Fund, other than the interests in any REMIC formed hereby.  Each Lower-Tier Interest other than the LT-R Interest shall be uncertificated and is hereby designated as a regular interest in the Lower-Tier REMIC and the LT-R Interest is hereby designated as the sole Class of residual interest in the Lower-Tier REMIC.  The Upper-Tier REMIC shall hold as its assets the Lower-Tier Interests other than the LT-R Interest.  


 


The Lower-Tier REMIC Interests


 


The following table sets forth (or describes) the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier Interests:


 



	
Lower-Tier


REMIC Interest


Designation

	  	
 


 Interest Rate

	  	
Initial Class


Principal Amount

	  	
Corresponding Class of Certificate(s)


	
LT-A1

	  	
(1)

	  	
(2)

	  	
A-1, A-IO


	
LT-B1

	  	
(1)

	  	
(2)

	  	
B-1


	
LT-B2

	  	
(1)

	  	
(2)

	  	
B-2


	
LT-B3

	  	
(1)

	  	
(2)

	  	
B-3


	
LT-B4

	  	
(1)

	  	
(2)

	  	
B-4


	
LT-B5

	  	
(1)

	  	
(2)

	  	
B-5


	
LT-R

	  	
(1)

	  	
(3)

	  	
N/A







 




  





5











  






 










	
(1)

	
The interest rate with respect to any Distribution Date (and the related Accrual Period) for this Lower-Tier Interest will be a per annum rate equal to the Net WAC Rate for such Distribution Date.







 



	
(2)

	
This interest shall have an initial class principal amount equal to the aggregate Initial Class Principal Amount of its Corresponding Class(es) of Certificates (other than any interest-only certificates).







 



	
(3)

	
The LT-R Interest is the sole class of residual interest in the Lower-Tier REMIC.  







 


On each Distribution Date, the Available Distribution Amount distributable as interest shall be deemed to have been distributed as interest with respect to the Lower-Tier Interests based on the interest rates described above.  On each Distribution Date, Interest Shortfalls shall be allocated to each Lower-Tier Interest to the same extent that such Interest Shortfalls are allocated to the related Class of Upper-Tier Interests.


 


On each Distribution Date, the remaining Available Distribution Amount distributable with respect to principal shall be deemed to have been distributed to the Lower-Tier Interests as follows:


 



	  	
(i)

	
first, to the Lower-Tier Interest LT-A1, until its Class Principal Amount equals the sum of the Class Principal Amount of the Class A-1 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02;







 



	  	
(ii)

	
second, to the LT-B1 Interest until its Class Principal Amount equals the Class Principal Amount of the Class B-1 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02;







 



	  	
(iii)

	
third, to the LT-B2 Interest until its Class Principal Amount equals the Class Principal Amount of the Class B-2 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02;







 



	  	
(iv)

	
fourth, to the LT-B3 Interest until its Class Principal Amount equals the Class Principal Amount of the Class B-3 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02;







 



	  	
(v)

	
fifth, to the LT-B4 Interest until its Class Principal Amount equals the Class Principal Amount of the Class B-4 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02;







 



	  	
(vi)

	
sixth, to the LT-B5 Interest until its Class Principal Amount equals the Class Principal Amount of the Class B-5 Certificate immediately after taking account of the distributions to such Class of Certificates pursuant to Section 5.02; and


	  	  	  
	  	
(vii)

	
finally, to the LT-R Interest, any remaining amounts.







 


The Certificates and the Upper-Tier REMIC


 


The following table sets forth (or describes) the Class designation, Certificate Interest Rate, initial Class Principal Amount (or initial Class Notional Amount) and minimum denomination for each Class of Certificates comprising interests in the Trust Fund created hereunder.  The Class A-1, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates represent regular interests in the Upper-Tier REMIC; the Class R Certificate represents the sole class of residual interest in the Upper-Tier REMIC; and the Class LT-R Certificate represents the sole class of residual interest in the Lower-Tier REMIC and does not represent an interest in the Upper Tier REMIC.


 




  





6











  






 


 



	
Class Designation

	  	
Certificate


Interest Rate

	  	
Initial


Class Principal Amount or Class Notional Amount

	  	
Minimum


Denominations or Percentage 


Interest


	
Class A-1

	  	
(1)

	  	
$273,280,000

	  	
$100,000


	
Class A-IO

	  	
(2)

	  	
(3)

	  	
100%


	
Class B-1

	  	
Net WAC Rate

	  	
$7,385,000

	  	
$100,000


	
Class B-2

	  	
Net WAC Rate

	  	
$5,171,000

	  	
$100,000


	
Class B-3

	  	
Net WAC Rate

	  	
$3,693,000

	  	
$100,000


	
Class B-4

	  	
Net WAC Rate

	  	
$2,215,000

	  	
$100,000


	
Class B-5

	  	
Net WAC Rate

	  	
$3,693,297

	  	
$100,000


	
Class R

	  	
Net WAC Rate

	  	
(4)

	  	
100%


	  	  	  	  	  	  	  












	
(1)

	
The Certificate Interest Rate of the Class A-1 Certificates will be an annual rate equal to the lesser of (a) the Net WAC Rate and (b) 4.125%.







 



	
(2)

	
The Certificate Interest Rate of the Class A-IO Certificates will be an annual rate equal to the excess, if any, of the Net WAC Rate over 4.125%.













	
(3)

	
The Class A-IO Certificate is an interest only Certificate and for any Distribution Date the Class Notional Amount of the Class A-IO Certificates is equal to the Class Principal Amount of the Class A-1 Certificates immediately before such Distribution Date.  The initial Class Notional Amount of the Class A-IO Certificates is $273,280,000.







 



	
(4)

	
Amounts allocated to the Class LT-R Certificate pursuant to Sections 5.02(a)(i) and 5.02(a)(ii) shall be excluded from the Available Distribution Amount for the Upper-Tier REMIC.












As of the Cut-off Date, the Mortgage Loans had an Aggregate Stated Principal Balance of $295,437,297.51.


 


In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Securities Administrator and the Trustee hereby agree as follows.


 


 


ARTICLE I







DEFINITIONS


 


Section 1.01                             Definitions.  The following words and phrases, unless the context otherwise requires, shall have the following meanings:


 


10-K Filing Deadline:  As defined in Section 6.21(b)(i) hereof.


  


Accepted Master Servicing Practices:  With respect to any Mortgage Loan, those mortgage master servicing practices of prudent mortgage master servicing institutions which master service mortgage loans


 




  





7











  






 


of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.







Accountant:  A Person engaged in the practice of accounting who (except when this Agreement provides that an Accountant must be Independent) may be employed by or affiliated with the Depositor or an Affiliate of the Depositor.


 


Accountant’s Attestation:  As defined in Section 6.24.


 


Accrual Period:  With respect to any Distribution Date and for each Class of Certificates, the calendar month preceding the month in which the Distribution Date occurs.  Interest shall accrue on all Classes of Certificates and on all Lower-Tier Interests on the basis of a 360-day year consisting of twelve 30-day months.


 


Acknowledgements:  The Assignment, Assumption and Recognition Agreements, each dated March 1, 2011, assigning rights under the Servicing Agreements from the Seller to the Depositor and from the Depositor to the Trustee, for the benefit of the Certificateholders, acknowledged by the Master Servicer, and providing certain rights to the Controlling Holder.


 


Additional Form 10-D Disclosure:  As defined in Section 6.21(a)(i).


 


Additional Form 10-K Disclosure:  As defined in Section 6.21(b)(i).


 


Additional Servicer: Each affiliate of a Servicer that services any of the Mortgage Loans and each Person who is not an affiliate of the Depositor or a Servicer, who services 10% or more of the Mortgage Loans (measured by aggregate Stated Principal Balance of the Mortgage Loans annually at the commencement of the calendar year prior to the year in which an Item 1123 Certificate is required to be delivered).  For clarification purposes, the Master Servicer and the Securities Administrator are Additional Servicers.







Adjustable Rate Mortgage Loan:  A Mortgage Loan which provides for the adjustment of the Mortgage Rate payable in respect thereto.







Adjustment Date:  As to any Adjustable Rate Mortgage Loan, the date on which the related Mortgage Rate adjusts in accordance with the terms of the related Mortgage Note.


 


Advance:  The payments required to be made by the Master Servicer or the applicable Servicer with respect to any Distribution Date pursuant to this Agreement or the Servicing Agreements, as applicable, the amount of any such payment being equal to the aggregate of the payments of principal and interest (net of the Master Servicing Fee and/or the applicable Servicing Fee) on the Mortgage Loans that were due on the related Due Date and not received as of the close of business on the related Determination Date, less the aggregate amount of any such delinquent payments that the Master Servicer or the Servicers have determined would constitute
Nonrecoverable Advances if advanced.


 


Adverse REMIC Event:  Either (i) loss of status as a REMIC, within the meaning of Section 860D of the Code, for any group of assets identified as a REMIC in the Preliminary Statement to this Agreement, or (ii) imposition of any tax, including the tax imposed under Section 860F(a)(1) on prohibited transactions, and the tax imposed under Section 860G(d) on certain contributions to a REMIC, on any REMIC created hereunder to the extent such tax would be payable from assets held as part of the Trust Fund.


 


Affiliate:  With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person.  For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such 


 




  





8











  






 


Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.







 Aggregate Expense Rate:  The sum of the Master Servicing Fee Rate and the applicable Servicing Fee Rate.


 


Aggregate Stated Principal Balance:  As to any Distribution Date, the aggregate of the Stated Principal Balances for all Mortgage Loans which were outstanding on the Due Date in the month preceding the month of such Distribution Date.


 


Aggregate Voting Interests:  The aggregate of the Voting Interests of all the Certificates under this Agreement.


 


Agreement:  This Pooling and Servicing Agreement and all amendments and supplements hereto.


 


Applicable Credit Support Percentage:  As to any Class of Subordinate Certificates and any Distribution Date, the sum of the Class Subordination Percentage of such Class and the aggregate of the Class Subordination Percentages of all other Classes (if any) of Subordinate Certificates having higher numerical Class designations than such Class.


 


Appraised Value:  With respect to any Mortgage Loan, the Appraised Value of the related Mortgaged Property shall be the lesser of:  (i) the value (or the Reconciled Market Value if more than one appraisal is received) thereof as determined by a Qualified Appraiser at the time of origination of the Mortgage Loan, and (ii) the purchase price paid for the related Mortgaged Property by the Mortgagor with the proceeds of the Mortgage Loan; provided, however, that in the case of a Refinancing Mortgage Loan, such value (or the Reconciled Market Value if more than one appraisal is received) of the Mortgaged Property is based solely upon the
value determined by an appraisal or appraisals made for the originator of such Refinancing Mortgage Loan at the time of origination of such Refinancing Mortgage Loan by a Qualified Appraiser.


 


Assessment of Compliance:  As defined in Section 6.23(a).


 


Authenticating Agent:  Any authenticating agent appointed by the Trustee pursuant to Section 6.10 until any successor authenticating agent for the Certificates is named, and thereafter  “Authenticating Agent” shall mean any such successor.  The initial Authenticating Agent shall be the Securities Administrator under this Agreement.


 


Authorized Officer:  Any Person who may execute an Officer’s Certificate on behalf of the Depositor.


 


Available Distribution Amount:  With respect to any Distribution Date, the sum of the following amounts: (i) all scheduled payments of interest (net of the Servicing Fees and the Master Servicing Fee) and principal due during the related Due Period, together with any Advances in respect thereof; (ii) Insurance Proceeds received during the related Prepayment Period; (iii) Liquidation Proceeds received during the related Prepayment Period (net of unreimbursed expenses incurred in connection with a liquidation or foreclosure and unreimbursed Advances and Servicing Advances, if any); (iv) Subsequent Recoveries received during the related
Prepayment Period; (v) all partial or full Principal Prepayments, together with any accrued interest thereon, identified as having been received on the Mortgage Loans during the related Prepayment Period, plus any amounts received from the Servicers or the Master Servicer in respect of Prepayment Interest Shortfalls on such Mortgage Loans; (vi) amounts received with respect to such Distribution Date as the Substitution Amount and the Purchase Price in respect of a Deleted Mortgage Loan or a Mortgage Loan purchased by an Originator or the Seller as of such Distribution Date as a result of a breach of a representation or warranty or by the Controlling Holder pursuant to Section 2.07; and 


 




  





9











  






 


(vii) the Clean-up Call Price paid by the party exercising its right to purchase the Mortgage Loans and terminate the Trust Fund, if applicable; minus







(A) amounts applied to reimburse Advances and Servicing Advances previously made and other amounts as to which the Servicers are entitled to be reimbursed pursuant to the Servicing Agreements; (B) amounts applied to reimburse Advances and Servicing Advances previously made as to which the Master Servicer is entitled to be reimbursed pursuant to this Agreement; and (C) the sum of all related fees, charges and other costs, including indemnification amounts and costs of arbitration (other than the Master Servicing Fee and amounts required to be paid by the Master Servicer from the Master Servicing Fee) payable or reimbursable to the Master Servicer, the Securities Administrator and the Trustee from the Trust Fund
under this Agreement and the Custodian under the Custodial Agreement, subject to an aggregate maximum amount of $300,000 annually (per year from the Closing Date to the first anniversary of the Closing Date and each subsequent anniversary year thereafter) to be paid to such parties collectively, in the order claims for payment of such amounts are received by the Securities Administrator; provided, however, that if a claim is presented for an amount that, when combined with the amount of prior claims paid during that year, would exceed $300,000, then only a portion of such claim will be paid that will make the total amount paid during that year equal to $300,000 and the excess remaining unpaid, together with any additional claims received during that year, will be deferred until the following anniversary year and if the total amount of such deferred claims exceeds $300,000 then payment
in such following anniversary year (and each subsequent anniversary year as may be needed until such deferred claims are paid in full) shall be apportioned among the Master Servicer, the Securities Administrator, the Custodian and the Trustee, in proportion to the aggregate amount of deferred claims submitted by such entity as of the last day of the prior year.







Back-Up Certificate:  As defined in Section 6.21(e).


 


Bankruptcy:  As to any Person, the making of an assignment for the benefit of creditors, the filing of a voluntary petition in bankruptcy, adjudication as a bankrupt or insolvent, the entry of an order for relief in a bankruptcy or insolvency proceeding, the seeking of reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief, or seeking, consenting to or acquiescing in the appointment of a trustee, receiver or liquidator, dissolution, or termination, as the case may be, of such Person pursuant to the provisions of either the Bankruptcy Code or any other similar state laws.


 


Bankruptcy Code:  The United States Bankruptcy Code, as amended.


 


Benefit Plan Opinion:  An Opinion of Counsel satisfactory to the Certificate Registrar, the Depositor and the Trustee to the effect that any proposed transfer will not (i) cause the assets of the Trust Fund to be regarded as plan assets for purposes of the Plan Asset Regulations or (ii) give rise to any fiduciary duty on the part of the Depositor or the Trustee.


 


Book-Entry Certificates:  Beneficial interests in Certificates designated as “Book-Entry Certificates” in this Agreement, ownership and transfers of which shall be evidenced or made through book entries by a Clearing Agency as described in Section 3.09; provided, that after the occurrence of a Book-Entry Termination whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are to be issued to Certificate Owners, such Book-Entry Certificates shall no longer be “Book-Entry
Certificates.”  As of the Closing Date, the following Classes of Certificates constitute Book-Entry Certificates:  Class A-1, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5.







Book-Entry Termination:  As defined in Section 3.09(c).


 


Business Day:  Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in the States of California, Maryland, Minnesota, Missouri or New York, (iii) a day on which banking institutions in the States of California, Maryland, Minnesota, Missouri or New York are authorized or obligated by law or 


 




  





10











  




 




executive order to be closed or (iv) a day on which the New York Stock Exchange or the Federal Reserve Bank of New York is closed.







Certificate:  Any one of the certificates signed by the Trustee and authenticated by the Securities Administrator as Authenticating Agent in substantially the forms attached hereto as Exhibit A.


 


Certificate Interest Rate:  With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate described in the Preliminary Statement to this Agreement.


 


Certificate Owner:  With respect to a Book-Entry Certificate, the Person who is the owner of such Book-Entry Certificate, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly or as an indirect participant, in accordance with the rules of such Clearing Agency).


 


Certificate Principal Amount:  With respect to any Certificate (other than the Class A-IO, Class R and Class LT-R Certificates), at the time of determination, the maximum specified dollar amount of principal to which the Holder thereof is then entitled hereunder, such amount being equal to the initial principal amount set forth on the face of such Certificate, less (i) the amount of all principal distributions previously made with respect to such Certificate; (ii) the principal portion of all Realized Losses previously allocated to such Certificate; and (iii) any
Certificate Writedown Amount previously allocated to such Certificate; provided, however, that on any Distribution Date on which a Subsequent Recovery is distributed, the Certificate Principal Amount of any Certificate then outstanding to which a Realized Loss amount has been applied will be increased sequentially, in order of seniority, by an amount equal to the lesser of (A) the principal portion of any Realized Loss amount previously allocated to that Certificate to the extent not previously recovered and (B) the principal portion of any Subsequent Recovery allocable to such Certificate after application (for this purpose) to more senior Classes of Certificates pursuant to this Agreement; and provided further that on any Distribution Date on which the Aggregate Stated
Principal Balance of the Mortgage Loans exceeds the aggregate Certificate Principal Amount, such excess will be allocated to increase the Certificate Principal Amount of any Certificate then outstanding to which a Realized Loss amount has previously been allocated, sequentially in order of seniority, up to the principal amount of such Realized Loss to the extent not previously recovered.  The Class A-IO, Class R and Class LT-R Certificates are issued without Certificate Principal Amounts.


 


Certificate Register and Certificate Registrar:  The register maintained and the registrar appointed pursuant to Section 3.02.  The Securities Administrator will act as the initial Certificate Registrar.







Certificate Writedown Amount:  The amount by which the aggregate Certificate Principal Amount of all the Certificates (other than the Class A-IO, Class R and Class LT-R Certificates) on any Distribution Date (after giving effect to distributions of principal and allocations of Realized Losses on that Distribution Date) exceeds the Aggregate Stated Principal Balance of the Mortgage Loans for the Distribution Date.


 


Certificateholder:  The meaning provided in the definition of “Holder.”


 


Certification:  As defined in the Custodial Agreement.







Civil Relief Act:  The Servicemembers Civil Relief Act, as amended, or any similar state or local law.


 


Class:  Collectively, Certificates bearing the same class designation.  In the case of the Lower-Tier REMIC, the term “Class” refers to all Lower-Tier Interests having the same alphanumeric designation.


 


Class LT-R Certificate:  The Class LT-R Certificate executed by the Trustee and authenticated and delivered by the Authenticating Agent, substantially in the form annexed as Exhibit A and evidencing ownership of the LT-R Interest.


 




  





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Class R Certificate:  The Class R Certificate executed by the Trustee, and authenticated and delivered by the Authenticating Agent, substantially in the form annexed hereto as Exhibit A, and evidencing the ownership of the sole residual interest in the Upper-Tier REMIC.







Class Notional Amount:  With respect to the Interest-Only Certificates, the applicable class notional amount calculated as provided in the Preliminary Statement to this Agreement.


 


Class Principal Amount:  With respect to each Class of Certificates (other than the Class A-IO, Class R and Class LT-R Certificates), the aggregate of the Certificate Principal Amounts of all Certificates of such Class at the date of determination.  With respect to any Lower-Tier Interest, the initial Class Principal Amount as shown or described in the table set forth in the Preliminary Statement to this Agreement for the Lower-Tier REMIC, as reduced by principal distributed with respect to such Lower-Tier Interest and Realized Losses allocated to such Lower-Tier Interest at the date of determination.


 


Class Subordination Percentage:  With respect to each Class of Subordinate Certificates, for each Distribution Date, the percentage obtained by dividing the Class Principal Amount of such Class immediately prior to such Distribution Date by the aggregate of the Class Principal Amounts of all Classes of Certificates (other than the Class A-IO, Class R and Class LT-R Certificates) immediately prior to such Distribution Date.


 


Clean-up Call:  The optional purchase of the Mortgage Loans and all property acquired in respect of any Mortgage Loan remaining in the Trust Fund on any date on which the Aggregate Stated Principal Balance is less than 20% or 5%, as applicable, of the Aggregate Stated Principal Balance as of the Cut-off Date, in accordance with Section 7.01(d) or (e) of this Agreement.







Clean-up Call Price:  The price paid by the party exercising the Clean-up Call pursuant to Section 7.01(d) or (e) of this Agreement, which is equal to the sum of (i) 100% of the aggregate outstanding principal balance of the Mortgage Loans plus accrued interest thereon, to, but not including, the first day of the month in which the Clean-up Call Price is to be distributed and (ii) the fair market value of any REO Property; provided, however, that such purchase price may be increased as is necessary, as determined by the Depositor, to avoid disqualification of any REMIC created under this Agreement as a REMIC.







Clearing Agency:  An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.  As of the Closing Date, the Clearing Agency shall be The Depository Trust Company.


 


Clearing Agency Participant:  A broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency.


 


Closing Date:  March 1, 2011.


 


Code:  The Internal Revenue Code of 1986, as amended, and as it may be further amended from time to time, any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form.


 


Commission:  U.S. Securities and Exchange Commission.


  


Controlling Holder:  At any time, any Affiliate of the Depositor other than the Seller, so long as such entity is the Holder of the majority of the Class Principal Amount of the most subordinate Class of Certificates then outstanding with a Class Principal Amount greater than zero; if an Affiliate of the Depositor other than the Seller is no longer the Holder of such Certificates, then no entity will have any 


 




  





12











  




 




rights under this Agreement as a Controlling Holder.  Neither the Depositor nor the Seller shall be a Controlling Holder.







Cooperative Corporation:  The entity that holds title (fee or an acceptable leasehold estate) to the real property and improvements constituting the Cooperative Property and which governs the Cooperative Property, which Cooperative Corporation must qualify as a Cooperative Housing Corporation under Section 216 of the Code.


 


Cooperative Loan:  Any Mortgage Loan secured by Cooperative Shares and a Proprietary Lease.


 


Cooperative Property:  The real property and improvements owned by the Cooperative Corporation, that includes the allocation of individual dwelling units to the holders of the shares of the Cooperative Corporation.


 


Cooperative Shares:  Shares issued by a Cooperative Corporation.


 


Corporate Trust Office:  With respect to the Trustee, the corporate trust office of the Trustee located at 388 Greenwich Street, 14th Floor, New York, New York, 10013, Attention: Global Transaction Services – Sequoia Mortgage Trust 2011-1, or at such other address as the Trustee may designate from time to time by notice to the Certificateholders, the Depositor, the Master Servicer and the Securities Administrator or the principal corporate trust office of any successor Trustee.  With respect to the Certificate Registrar and presentment of Certificates for registration of transfer, exchange or final payment, Sixth Street
and Marquette Avenue, Minneapolis, Minnesota  55479, Attention:  Corporate Trust Services -- Sequoia Mortgage Trust 2011-1.


 


Corresponding Class of Certificates:  With respect to each Lower-Tier Interest, the Class or Classes of Certificates appearing opposite such Lower-Tier Interest, as described in the Preliminary Statement to this Agreement.


 


Credit Support Depletion Date:  The first Distribution Date, if any, on which the aggregate of the Class Principal Amounts of the Subordinate Certificates has been reduced to zero.


 


Current Interest:  With respect to each Class of Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount or Class Notional Amount, as applicable, of such Class immediately prior to such Distribution Date.


 


Custodial Accounts:  Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.







Custodial Agreement:  The Custodial Agreement, dated as of February 1, 2011, among the Depositor, the Seller, the Trustee, Wells Fargo Bank, N.A., as Custodian and Wells Fargo Bank, N.A., as Master Servicer, as amended from time to time.  A copy of the Custodial Agreement is attached hereto as Exhibit D.


 


Custodian:  A Person who is at any time appointed by the Trustee as a custodian of all or a portion of the Mortgage Documents and the Trustee Mortgage Files and listed on the Mortgage Loan Schedule as the Custodian of such Mortgage Documents and Trustee Mortgage Files.  The initial Custodian is Wells Fargo Bank, N.A.


 


Cut-off Date:  February 1, 2011.


 




  





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Debt Service Reduction:  With respect to any Mortgage Loan, a reduction in the Scheduled Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, which became final and non-appealable, except such a reduction resulting from a Deficient Valuation or any reduction that results in a permanent forgiveness of principal.


 


Defective Mortgage Loan:  The meaning specified in Section 2.04.


 


Deficient Valuation:  With respect to any Mortgage Loan, a valuation of the related Mortgaged Property by a court of competent jurisdiction in an amount less than the then outstanding indebtedness under the Mortgage Loan, or any reduction in the amount of principal to be paid in connection with any Scheduled Payment that results in a permanent forgiveness of principal, which valuation or reduction results from an order of such court which is final and non-appealable in a proceeding under the Bankruptcy Code.


 


Definitive Certificate:  A Certificate of any Class issued in definitive, fully registered, certificated form, which shall initially be the Class LT-R and Class R Certificates.


 


Deleted Mortgage Loan:  A Mortgage Loan replaced or to be replaced with a Qualified Substitute Mortgage Loan in accordance with either Servicing Agreement.


 


Delinquent:  Any Mortgage Loan with respect to which the Scheduled Payment due on a Due Date is not received, based on the Mortgage Bankers Association method of calculating delinquency.


 


Depositor:  Sequoia Residential Funding, Inc., a Delaware corporation having its principal place of business in California, or its successors in interest.


 


Determination Date:  With respect to each Distribution Date, the 16th day of the month in which such Distribution Date occurs, or, if such 16th day is not a Business Day, the next succeeding Business Day; provided, however, that with respect to a Servicer and such Servicer's Advance obligations pursuant to the related Servicing Agreement, the Determination Date is the date set forth in the related Servicing Agreement.


 


Disqualified Organization:  A “disqualified organization” as defined in Section 860E(e)(5) of the Code.


 


Distribution Account:  The separate Eligible Account created and maintained by the Securities Administrator, on behalf of the Trustee, pursuant to Section 4.01.  Funds in the Distribution Account (exclusive of any earnings on investments made with funds deposited in the Distribution Account) shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.


 


Distribution Date:  The 25th day of each month or, if such 25th day is not a Business Day, the next succeeding Business Day, commencing in March 2011.


 


Distribution Date Statement:  As defined in Section 4.02.


 


Due Date:  With respect to any Mortgage Loan, the date on which a Scheduled Payment is due under the related Mortgage Note as indicated in the applicable Servicing Agreement, exclusive of any days of grace.


 


Due Period:  As to any Distribution Date, the period beginning on the second day of the calendar month preceding the month in which such Distribution Date occurs, and ending on the first day of the calendar month in which such Distribution Date occurs.


 




  





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Eligible Account:  Any account or accounts maintained with a federal or state chartered depository institution or trust company the short-term and long-term unsecured debt obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding company, the debt obligations of such holding company) have the highest short-term rating and one of the two highest long-term ratings of the Rating Agency, respectively, at the time any amounts are held on deposit therein. Eligible Accounts may bear interest, and may include, if otherwise qualified under this definition, accounts maintained with
the Trustee or the Paying Agent.  If the short-term or long-term credit rating of the depository institution or trust company that maintains the account or accounts falls below the highest short-term rating or one of the two highest long-term ratings of the Rating Agency, respectively, the funds on deposit therewith in connection with this transaction shall be transferred to an Eligible Account within 30 days of such downgrade.


 


Eligible Investments:  At any time, any one or more of the following obligations and securities:


 


(i)           direct obligations of, and obligations fully guaranteed by the United States of America or any agency or instrumentality of the United States of America the obligations of which are backed by the full faith and credit of the United States of America;







(ii)           (a) demand or time deposits, federal funds or bankers’ acceptances issued by any depository institution or trust company incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal and/or state banking authorities, provided that the commercial paper and/or the short-term deposit rating and/or the long-term unsecured debt obligations or deposits of such depository institution or trust company at the time of such investment or contractual commitment providing for such investment are rated in the highest rating category by the Rating Agency for long-term unsecured debt
with a maturity of more than one year or in the highest rating category with respect to short-term obligations and (b) any other demand or time deposit or certificate of deposit that is fully insured by the FDIC;







(iii)           repurchase obligations with a term not to exceed thirty (30) days and with respect to any security described in clause (i)  above and entered into with a depository institution or trust company (acting as principal) described in clause (ii)(a) above;







(iv)           securities bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States of America or any state thereof that are rated in the highest rating category by the Rating Agency for long-term unsecured debt with a maturity of more than one year or in the highest rating category with respect to short-term obligations, in each case at the time of such investment or contractual commitment providing for such investment; provided, however, that securities issued by any particular corporation will not be Eligible Investments to the extent that investments therein will cause the then outstanding principal
amount of securities issued by such corporation and held as Eligible Investments to exceed 10% of the aggregate outstanding principal balances of all of the Mortgage Loans and Eligible Investments;







(v)           commercial paper (including both non-interest-bearing discount obligations and interest-bearing obligations payable on demand or on a specified date not more than one year after the date of issuance thereof) that is rated in the highest rating category by the Rating Agency at the time of such investment; and







(vi)           any money market funds rated in one of the two highest rating categories by the Rating Agency for long-term unsecured debt with a maturity of more than one year or in the highest rating category with respect to short-term obligations, including any such fund managed or advised by the Trustee or any of its Affiliates;







provided, however, that no instrument or security shall be a Eligible Investment if such instrument or security evidences a right to receive only interest payments with respect to the obligations underlying 


 




  





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such instrument or if such security provides for payment of both principal and interest with a yield to maturity in excess of 120% of the yield to maturity at par or if such instrument or security is purchased at a price greater than par.







ERISA:  The Employee Retirement Income Security Act of 1974, as amended.


 


ERISA-Qualifying Underwriting:  A best efforts or firm commitment underwriting or private placement that meets the requirements of an Underwriter’s Exemption.


 


ERISA-Restricted Certificate:  The Class R, Class LT-R, Class A-IO, Class B-2, Class B-3, Class B-4 or Class B-5 Certificates and any Certificate that does not satisfy the applicable rating requirement under the Underwriter’s Exemption.


 


Escrow Account:  As defined in Section 1.01 of each Servicing Agreement.


 


Event of Default:  Any one of the conditions or circumstances enumerated in Section 6.14.


 


Exception Report:  As defined in the Custodial Agreement.







Exchange Act:  The Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.


 


Fannie Mae:  Fannie Mae or any successor thereto.


 


FDIC:  The Federal Deposit Insurance Corporation or any successor thereto.


 


FIRREA:  The Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended and in effect from time to time.







Fitch:  Fitch, Inc., or any successor in interest.







Form 8-K Disclosure Information:  As defined in Section 6.21(c)(i).


 


Freddie Mac:  Freddie Mac, or any successor thereto.







Holder or Certificateholder:  The registered owner of any Certificate as recorded on the books of the Certificate Registrar except that, solely for the purposes of taking any action or giving any consent pursuant to this Agreement, any Certificate registered in the name of the Trustee, the Master Servicer, the Securities Administrator or either Servicer, or any Affiliate thereof shall be deemed not to be outstanding in determining whether the requisite percentage necessary to take such action or effect such consent has been obtained, and, in determining whether the Trustee shall be protected in taking such action or in relying upon such
consent, only Certificates which a Responsible Officer of the Trustee actually knows to be so owned shall be disregarded.  The Trustee, the Certificate Registrar and the Securities Administrator may request and conclusively rely on certifications by the Master Servicer, the Securities Administrator  or either Servicer in determining whether any Certificates are registered to an Affiliate of the Master Servicer, the Securities Administrator  or either Servicer.


 


Home Valuation Code of Conduct:  The Home Valuation Code of Conduct effective as of May 1, 2009, as amended and in effect from time to time.







HUD:  The United States Department of Housing and Urban Development, or any successor thereto.


 




  





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Independent:  When used with respect to any Accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X.  When used with respect to any other Person, a Person who (a) is in fact independent of another specified Person and any Affiliate of such other Person, (b) does not have any material direct financial interest in such other Person or any Affiliate of such other Person, and (c) is not connected with such other Person or any Affiliate of such other Person as an officer, employee, promoter, underwriter, trustee, partner, director or Person
performing similar functions.


 


Index:  As to each Adjustable Rate Mortgage Loan, the index from time to time in effect for adjustment of the Mortgage Rate as set forth as such on the related Mortgage Note.


  


Insurance Policy:  With respect to any Mortgage Loan, any insurance policy, including all names and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.


 


Insurance Proceeds:  Proceeds paid by any Insurance Policy (excluding proceeds required to be applied to the restoration and repair of the related Mortgaged Property or released to the Mortgagor), in each case other than any amount included in such Insurance Proceeds in respect of Insured Expenses.


 


Insured Expenses:  Expenses covered by an Insurance Policy or any other insurance policy with respect to the Mortgage Loans.


 


Interest Distribution Amount:  For each Class of Certificates on any Distribution Date, the Current Interest for such Class as reduced by such Class’s share of Net Prepayment Interest Shortfalls and Relief Act Shortfalls, which shall be allocated to each Class on a pro rata basis based on the amount of Current Interest payable to each such Class.  


 


Interest-Only Certificates:  The Class A-IO Certificates.


 


Interest Shortfall:  As to any Class of Certificates and any Distribution Date, the amount by which (i) the Interest Distribution Amount for such Class on all prior Distribution Dates exceeds (ii) amounts distributed in respect of interest to such Class on prior Distribution Dates.


  


Item 1123 Certificate:  As defined in Section 6.22.







Latest Possible Maturity Date:  The Distribution Date occurring in February 2041.


 


Liquidated Mortgage Loan:  With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) as to which, prior to the close of business on the Business Day immediately preceding the Due Date, the applicable Servicer has determined that all recoverable Liquidation Proceeds and Insurance Proceeds have been received.


 


Liquidation Proceeds:  All cash amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee’s sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other net proceeds received in connection with the disposition of an REO Property.


 


Loan-To-Value Ratio:  With respect to any Mortgage Loan and as to any date of determination, the fraction (expressed as a percentage) the numerator of which is the principal balance of the related Mortgage Loan at such date of determination and the denominator of which is the Appraised Value of the related Mortgaged Property.


 




  





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Lower-Tier Interest:  Any one of the interests in the Lower-Tier REMIC as described in the Preliminary Statement to this Agreement.


 


Lower-Tier REMIC:  As described in the Preliminary Statement to this Agreement.


 


LT-R Interest:  The residual interest in the Lower-Tier REMIC, as described in the Preliminary Statement to this Agreement.


 


Margin:  As to each Adjustable Rate Mortgage Loan, the percentage amount set forth on the related Mortgage Note added to the Index in calculating the Mortgage Rate thereon.


 


Master Servicer:  Wells Fargo Bank, N.A., a national banking association organized under the laws of the United States in its capacity as Master Servicer and any successor in interest, or if any successor master servicer shall be appointed as herein provided, then such successor master servicer.







Master Servicer Compensating Interest Payment:  As to any Distribution Date and the Master Servicer, the lesser of (1) the Master Servicing Fee for such date and (2) any Prepayment Interest Shortfalls for such date (to the extent such Prepayment Interest Shortfalls are required to be paid but are not actually paid by the Servicers as a Servicer Compensating Interest Payment).







Master Servicing Fee:  With respect to any Distribution Date, an amount equal to the product of one-twelfth of the Master Servicing Fee Rate and the Stated Principal Balance of each Mortgage Loan as of the first day of the related Due Period.







Master Servicing Fee Rate:  0.019% per annum.







Master Servicing Transfer Costs:  All reasonable costs and expenses incurred by the Trustee in connection with the appointment of a successor master servicer and the transfer of master servicing from a predecessor master servicer, including, without limitation, any reasonable costs or expenses associated with the identification and engagement of a successor master servicer, the documentation of the assumption of master servicing by the successor master servicer, the complete transfer of all master servicing data and the completion, correction or manipulation of such master servicing data as may be required by the Trustee or the successor
master servicer to correct any errors or insufficiencies in the master servicing data or otherwise to enable the Trustee or other successor master servicer to master service the Mortgage Loans properly and effectively.







Maximum Rate:  As to any Adjustable Rate Mortgage Loan, the maximum rate set forth on the related Mortgage Note at which interest can accrue on such Adjustable Rate Mortgage Loan.


 


Moody’s:  Moody’s Investors Service, Inc., or any successor in interest.







Mortgage:  A mortgage, deed of trust or other instrument creating a first lien on, or first priority ownership interest in, an estate in fee simple in real property securing a Mortgage Note, together with improvements thereto.


 


Mortgage Documents:  With respect to each Mortgage Loan, the mortgage documents required to be delivered to the Custodian pursuant to the Custodial Agreement.


 


Mortgage Loan:  A Mortgage and the related Mortgage Note or other evidences of indebtedness secured by each such Mortgage conveyed, transferred, sold, assigned to or deposited with the Trustee pursuant to Section 2.01 (including any Qualified Substitute Mortgage Loan and REO Property), including without limitation, each Mortgage Loan listed on the Mortgage Loan Schedule, as amended from time to time.


 




  





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Mortgage Loan Purchase and Sale Agreement:  The mortgage loan purchase and sale agreement, dated as of March 1, 2011, between the Seller and the Depositor.


 


Mortgage Loan Schedule:  The schedule attached hereto as Schedule A, which shall identify each Mortgage Loan, as such schedule may be amended by the Depositor or the Servicer from time to time to reflect the addition of Qualified Substitute Mortgage Loans to, or the deletion of Deleted Mortgage Loans from, the Trust Fund. 


 


Mortgage Note:  The original executed note or other evidence of the indebtedness of a Mortgagor secured by a Mortgage under a Mortgage Loan.


  


Mortgaged Property:  The underlying property securing a Mortgage Loan which, with respect to a Cooperative Loan, is the related Cooperative Shares and Proprietary Lease.


 


Mortgage Rate:  As to any Mortgage Loan and any Distribution Date, the annual rate of interest borne by the related Mortgage Note as of the related Due Date, taking into account any Servicing Modification or other amendments to the Mortgage Note.


 


Mortgagor:  The obligor on a Mortgage Note.


 


Net Liquidation Proceeds:  With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property, the related Liquidation Proceeds net of Advances, Servicing Advances, related Servicing Fees and/or Master Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.


 


Net Mortgage Rate:  With respect to any Mortgage Loan and any Distribution Date, the related Mortgage Rate as of the Due Date in the month preceding the month of such Distribution Date reduced by the Aggregate Expense Rate.


 


Net Prepayment Interest Shortfall:  With respect to any Mortgage Loan and any Distribution Date, the amount by which any Prepayment Interest Shortfall for the related Due Period exceeds the amount of Master Servicer Compensating Interest Payment paid by the Master Servicer and Servicer Compensating Interest Payment paid by the applicable Servicer in respect of such shortfall for such Due Period.


  


Net WAC Rate:  With respect to any Distribution Date, the weighted average of the Net Mortgage Rates for all the Mortgage Loans as of the first day of the calendar month immediately preceding the calendar month of that Distribution Date, weighted on the basis of their Stated Principal Balances.







Non-Book-Entry Certificate:  Any Certificate other than a Book-Entry Certificate.


 


Non-permitted Foreign Holder:  As defined in Section 3.03(f).


 


Nonrecoverable Advance:  Any portion of an Advance or Servicing Advance previously made or proposed to be made by the Master Servicer and/or a Servicer (as certified in an Officer’s Certificate of the Master Servicer and/or Servicer, as applicable), which in the good faith judgment of such party, shall not be ultimately recoverable by such party from the related Mortgagor, related Liquidation Proceeds or otherwise.


 


Non-Upper-Tier REMIC:  As defined in Section 10.01(d).


 


Non-U.S. Person:  Any person other than a “United States person” within the meaning of Section 7701(a)(30) of the Code.


 




  





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Notional Amount:  With respect to an Interest-Only Certificate and any Distribution Date, such Certificate’s Percentage Interest of the Class Notional Amount of such Class of Certificates for such Distribution Date.


 


Officer’s Certificate:  (a) With respect to the Depositor, a certificate signed by two Authorized Officers of the Depositor, (b) with respect to the Master Servicer or the Securities Administrator, a certificate signed by the Chairman of the Board, any Vice Chairman, the President, any Vice President or any Assistant Vice President of the Master Servicer or the Securities Administrator, (c) with respect to First Republic Bank, a certificate signed by the Chairman of the Board, the Vice Chairman of the Board, a President or a Vice President or any other duly authorized officers or agents of First Republic Bank and (d) with respect to PHH
Mortgage Corporation, a certificate signed by (i) the President or a Vice President and (ii) the Treasurer or the Secretary or one of the Assistant Treasurers or Assistant Secretaries of PHH Mortgage Corporation, and in each case delivered to the Trustee, the Securities Administrator or the Master Servicer, as required hereby.


 


Opinion of Counsel:  A written opinion of counsel, reasonably acceptable in form and substance to the Trustee, the Securities Administrator or the Master Servicer, as required hereby, and who may be in-house or outside counsel to the Depositor, the Master Servicer, the Securities Administrator or the Trustee but which must be Independent outside counsel with respect to any such opinion of counsel concerning the transfer of any Residual Certificate or concerning certain matters with respect to ERISA or the taxation, or the federal income tax status, of each REMIC.







Original Applicable Credit Support Percentage:  With respect to each Class of Subordinate Certificates, the related Applicable Credit Support Percentage as of the Closing Date, which shall be equal to the corresponding approximate percentage set forth in the table below opposite its Class designation:



	  	  
	
Class B-1

	
7.50%


	
Class B-2

	
5.00%


	
Class B-3

	
3.25%


	
Class B-4

	
2.00%


	
Class B-5

	
1.25%







 


Original Subordinate Class Principal Amount:  The aggregate of the Class Principal Amounts of the Classes of Subordinate Certificates as of the Closing Date.


 


Originator:  Each of PHH Mortgage Corporation and First Republic Bank, each as seller under the related Servicing Agreement, and any successor thereto.







Paying Agent:  Any paying agent appointed pursuant to Section 3.08.  The initial Paying Agent shall be the Securities Administrator under this Agreement.


 


Percentage Interest:  With respect to any Certificate, its percentage interest in the undivided beneficial ownership interest in the Trust Fund evidenced by all Certificates of the same Class as such Certificate.  With respect to any Certificate, other than an Interest-Only Certificate, if applicable, or the Class R Certificates and the Class LT-R Certificates, the Percentage Interest evidenced thereby shall equal the initial Certificate Principal Amount thereof divided by the initial Class Principal Amount of all Certificates of the same Class.  With respect to each of the Class R Certificates and the Class LT-R
Certificates, the Percentage Interest evidenced thereby shall be as specified on the face thereof, or otherwise, be equal to 100%.  With respect to an Interest-Only Certificate, the Percentage Interest evidenced thereby shall equal its initial Notional Amount as set forth on the face thereof divided by the initial Class Notional Amount of such Class.


 




  





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Person:  Any individual, corporation, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof.


 


Plan:  An employee benefit plan or other retirement arrangement which is subject to Section 406 of ERISA and/or Section 4975 of the Code or any entity whose underlying assets include “plan assets” of such plan or arrangement under the Plan Asset Regulations by reason of their investment in the entity.


 


Plan Asset Regulations:  The U.S. Department of Labor regulations set forth in 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA.


 


Prepayment Interest Shortfall:  With respect to a Mortgage Loan and any Distribution Date, the amount by which interest paid by the related Mortgagor in connection with a Principal Prepayment on the Mortgage Loan is less than one month’s interest at the related Mortgage Rate on the Stated Principal Balance of that Mortgage Loan as of the preceding Distribution Date.


 


Prepayment Period:  With respect to each Distribution Date, the calendar month immediately preceding the month in which the Distribution Date occurs.


 


Primary Mortgage Insurance Policy:  Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.


 


Principal Distribution Amount:  With respect to any Distribution Date, the sum of (a) the principal portion of each Scheduled Payment (before taking into account any Deficient Valuations or Debt Service Reductions) due on the related Due Date, whether or not received, (b) the principal portion of each full and partial Principal Prepayment made by a Mortgagor during the related Prepayment Period; (c) the principal portion of each other unscheduled collection, including any Subsequent Recoveries, Insurance Proceeds and Net Liquidation Proceeds (other than with respect to any Mortgage Loan that became a Liquidated Mortgage Loan during the
related Prepayment Period) received during the related Prepayment Period;  (d) that portion of the purchase price representing principal of any Mortgage Loans repurchased by an Originator or the Seller in accordance with a Servicing Agreement, by the Seller in accordance with Section 2.04 herein or by the Controlling Holder in accordance with Section 2.07 herein, in each case to the extent received during the related Prepayment Period; (e) the principal portion of any related Substitution Amount received during the related Prepayment Period; and (f) on the Distribution Date on which the Trust Fund is to be terminated pursuant to Article VII hereof, that portion of the Clean-up Call Price in respect of principal.


 


Principal Forbearance Amount:  With respect to a Mortgage Loan that was the subject of a Servicing Modification, the amount of principal of the Mortgage Loan, if any, that has been deferred and that does not accrue interest.







Principal Prepayment:  Any Mortgagor payment of principal or other recovery of principal on a Mortgage Loan that is recognized as having been received or recovered in advance of its scheduled Due Date and applied to reduce the principal balance of the Mortgage Loan in accordance with the terms of the Mortgage Note or the applicable Servicing Agreement.


 


Principal Prepayment In Full:  Any Principal Prepayment of the entire principal balance of the Mortgage Loans.







Proceeding:  Any suit in equity, action at law or other judicial or administrative proceeding.


 


Proprietary Lease:  With respect to any Cooperative Property, a lease or occupancy agreement between a Cooperative Corporation and a holder of related Cooperative Shares.


 




  





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Prospectus:  The prospectus supplement dated February 25, 2011 and the accompanying prospectus dated February 16, 2011, relating to the Class A-1, Class A-IO, Class B-1, Class B-2 and Class B-3 Certificates, together with any supplement thereto.


 


Purchase Price:  With respect to any Mortgage Loan, the “Repurchase Price” as defined in the applicable Servicing Agreement.


 


Qualified Appraiser:  With respect to each Mortgage Loan, an appraiser, duly appointed by the originator, who had no interest, direct or indirect in the Mortgaged Property or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and such appraiser and the appraisal made by such appraiser both satisfy the requirements of Fannie Mae or Freddie Mac (including but not limited to the Home Valuation Code of Conduct with respect to conventional Mortgage Loans) and Title XI of FIRREA and the regulations promulgated thereunder, all as in effect on the date the Mortgage
Loan was originated.







Qualified Substitute Mortgage Loan:  A mortgage loan substituted by the Originator for a Deleted Mortgage Loan in accordance with the applicable Servicing Agreement which must, on the date of such substitution, (a) have an outstanding principal balance, after deduction of all scheduled payments due in the month of substitution (or in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate principal balance), not in excess of the Stated Principal Balance of the Deleted Mortgage Loan (the amount of any shortfall will be paid by the Originator and distributed to Trust Fund in the month of
substitution), (b) have a Mortgage Rate not less than, and not more than one percentage point greater than, the Mortgage Rate of the Deleted Mortgage Loan or in the case of an Adjustable Rate Mortgage Loan, have the same Index, a Margin that is not less than the margin of the Deleted Mortgage Loan, a Maximum Rate not less than (and not more than two percentage points greater than) the Maximum Rate of the Deleted Mortgage Loan and Adjustment Dates that are of the same frequency as those of the Deleted Mortgage Loan, (c) have a remaining term to maturity not greater than (and not more than one year less than) that of the Deleted Mortgage Loan, (d) have a Loan-to-Value Ratio at origination no greater than that of the Deleted Mortgage Loan and (e) comply as of the date of substitution with each representation and warranty relating to the Mortgage Loans set forth in the applicable Servicing
Agreement.







Rating Agency:  Fitch.


 


Realized Loss:  (a) With respect to each Liquidated Mortgage Loan, an amount (not less than zero or more than the Stated Principal Balance of the Mortgage Loan plus accrued interest) as of the date of such liquidation, equal to (i) the unpaid principal balance of the Liquidated Mortgage Loan as of the date of such liquidation, plus (ii) interest at the Net Mortgage Rate from the Due Date as to which interest was last paid by the borrower to Certificateholders up to the Due Date in the month in which Liquidation Proceeds are required to be distributed on the Stated Principal Balance of such Liquidated Mortgage Loan from time to time, minus
(iii) the Liquidation Proceeds received during the month in which such liquidation occurred, to the extent not previously applied as recoveries of interest at the Net Mortgage Rate and to principal of the Liquidated Mortgage Loan;







(b) with respect to each Mortgage Loan that has become the subject of a Deficient Valuation, if the principal amount due under the related Mortgage Note has been reduced, the difference between the principal balance of the Mortgage Loan outstanding immediately prior to such Deficient Valuation and the principal balance of the Mortgage Loan as reduced by the Deficient Valuation;







(c) with respect to each Mortgage Loan that has been the subject of a Servicing Modification, any principal due on the Mortgage Loan that has been written off by a Servicer and any Principal Forbearance Amount; and









  





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(d)  with respect to each Class of Certificates, the amount by which the Class Principal Amount is reduced as a result of clauses (a), (b) or (c) above.


 


Reconciled Market Value:  The estimated market value of a Mortgaged Property or REO Property as reasonably determined by the applicable Servicer based on different results obtained from different permitted valuation methods or at different time periods, all in accordance with such Servicer's customary servicing procedures.







Record Date:  As to any Distribution Date, the last Business Day of the month preceding the month of such Distribution Date (or the Closing Date, in the case of the first Distribution Date).


 


Refinancing Mortgage Loan:  Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.


 


Regulation AB:  Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such clarifications and interpretations as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.


 


Relevant Servicing Criteria:  The Servicing Criteria applicable to each party, as set forth on an exhibit to each Servicing Agreement and Exhibit K hereto.  Multiple parties can have responsibility for the same Relevant Servicing Criteria.  With respect to a Servicing Function Participant engaged by the Master Servicer, the Securities Administrator  or any Servicer, the term “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing Criteria applicable to such parties.


 


Relief Act Shortfalls:  With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Civil Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.


 


REMIC:  Each pool of assets in the Trust Fund designated as a REMIC as described in the Preliminary Statement to this Agreement.


 


REMIC Provisions:  The provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at sections 860A through 860G of the Code, and related provisions, and regulations, including proposed regulations and rulings, and administrative pronouncements promulgated thereunder, as the foregoing may be in effect from time to time.


 


REO Property:  A Mortgaged Property acquired by the Trust Fund through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan or otherwise treated as having been acquired pursuant to the REMIC Provisions.


 


Reportable Event:  As defined in Section 6.21(c)(i).


 


Reporting Servicer:  As defined in Section 6.21(b)(i).


 


Residual Certificate:  The Class LT-R Certificates and the Class R Certificates.


 


Responsible Officer:  With respect to any party, any officer in the corporate trust department or similar group of such party with direct responsibility for the administration of this Agreement and also, 


 




  





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with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject.


 


Restricted Certificate:   Any Class B-4, Class B-5, Class R or Class LT-R Certificate.


 


S&P:  Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, or any successor in interest.







Scheduled Payment:  The scheduled monthly payment on a Mortgage Loan due on any Due Date allocable to principal and/or interest on such Mortgage Loan which, unless otherwise specified in the Servicing Agreements, shall give effect to any related Debt Service Reduction, any Deficient Valuation and any Servicing Modification that affects the amount of the monthly payment due on such Mortgage Loan.


 


Securities Act:  The Securities Act of 1933, as amended, and the rules and regulations thereunder.


 


Securities Administrator:  Wells Fargo Bank, N.A., not in its individual capacity but solely as Securities Administrator, or any successor in interest, or if any successor Securities Administrator shall be appointed as herein provided, then such successor Securities Administrator.  Wells Fargo Bank, N.A. shall act as Securities Administrator for so long as it is Master Servicer under this Agreement.







Seller:  Redwood Residential Acquisition Corporation, a Delaware corporation.


 


Senior Certificate:  Any one of the Class A-1 and Class A-IO Certificates, as applicable.


 


Senior Percentage:  With respect to each Distribution Date, the percentage equivalent of a fraction, the numerator of which is the Class Principal Amount of the Class A-1 Certificates immediately prior to such Distribution Date, and the denominator of which is the Aggregate Stated Principal Balance of all of the Mortgage Loans for such Distribution Date.


 


Senior Prepayment Percentage:  With respect to any Distribution Date occurring before the Distribution Date in March 2016, 100%.  Except as provided herein, the Senior Prepayment Percentage for any Distribution Date occurring in or after March 2016 shall be as follows:







(i) in or after March 2016 to and including February 2017, the Senior Percentage plus 70% of the Subordinate Percentage for that Distribution Date;







(ii) in or after March 2017 to and including February 2018, the Senior Percentage plus 60% of the Subordinate Percentage for that Distribution Date;







(iii) in or after March 2018 to and including February 2019, the Senior Percentage plus 40% of the Subordinate Percentage for that Distribution Date;







(iv) in or after March 2019 to and including February 2020, the Senior Percentage plus 20% of the Subordinate Percentage for that Distribution Date; and







(v) in or after March 2020, the Senior Percentage for that Distribution Date;







provided, however, that there shall be no reduction in the Senior Prepayment Percentage unless the Step-Down Test is satisfied; and provided, further, that if on any such Distribution Date on or after the Distribution Date in March 2016, the Senior Percentage exceeds the initial Senior Percentage, the Senior Prepayment Percentage for that Distribution Date shall again equal 100%.


 




  





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If on any Distribution Date the allocation to the Senior Certificates then entitled to distributions of principal of full and partial Principal Prepayments and other amounts in the percentage required above would reduce the aggregate of the Class Principal Amounts of those Certificates to below zero, the Senior Prepayment Percentage for such Distribution Date shall be limited to the percentage necessary to reduce that Class Principal Amount to zero.


 


Senior Principal Distribution Amount:  With respect to the Mortgage Loans and any Distribution Date, the sum of:


 


(1)           the Senior Percentage of all amounts described in clause (a) of the definition of “Principal Distribution Amount” for that Distribution Date;


 


(2)           the Senior Prepayment Percentage of the amounts described in clauses (b), (c), (d), (e) and (f) of the definition of “Principal Distribution Amount”;


 


(3)           with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the related Prepayment Period, the lesser of:







(x)           Net Liquidation Proceeds allocable to principal received with respect to that Mortgage Loan; and







(y)           the Senior Prepayment Percentage of the Stated Principal Balance of that Mortgage Loan; and


 


(4)          any amounts described in clauses (1) through (3) that remain unpaid with respect to the Senior Certificates from prior Distribution Dates;







provided, however, that if on any Distribution Date the aggregate of the Class Principal Amounts of the Subordinate Certificates was reduced to less than or equal to 1.25% of the Stated Principal Balance of the Mortgage Loans as of the Closing Date, the Senior Principal Distribution Amount for each succeeding Distribution Date will include all principal collections on the Mortgage Loans distributable on that Distribution Date, and the Subordinate Principal Distribution Amount will  be zero, until the aggregate of the Class Principal Amount of the Class A-1 Certificates is reduced to zero.


 


Servicer:  Each Servicer under a Servicing Agreement.


 


Servicer Compensating Interest Payment:  As to any Distribution Date and either Servicer, the lesser of (1) the Servicing Fee for such Servicer for such date and (2) any Prepayment Interest Shortfalls with respect to any Mortgage Loans serviced by such Servicer for such date.







Servicer Remittance Date:  The 18th day of each calendar month or, if such 18th day is not a Business Day, the next succeeding Business Day, commencing in March 2011.







Servicing Advances:  As defined in the applicable Servicing Agreement.


 


Servicing Agreement:  The agreements listed on Exhibit H, as amended or supplemented from time to time as permitted thereunder and as modified by the related Acknowledgment.







Servicing Criteria:  The criteria set forth in paragraph (d) of Item 1122 of Regulation AB, as such may be amended from time to time.


 




  





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Servicing Fee:  As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the Stated Principal Balance of such Mortgage Loan as of the first day of the related Due Period.


 


Servicing Fee Rate:   A per annum rate equal to 0.25%, or such other rate as may be agreed to by the Master Servicer pursuant to Section 9.01(b) of this Agreement and the related Servicing Agreement.


 


Servicing Function Participant:  Any Subservicer or Subcontractor, other than each Servicer, the Master Servicer, the Securities Administrator or the Trustee, that is participating in the servicing function within the meaning of Regulation AB, unless such Person’s activities relate only to 5% or less of the Mortgage Loans.


 


Servicing Modification:  Any reduction of the Mortgage Rate on or the outstanding principal balance of a Mortgage Loan, any extension of the final maturity date of a Mortgage Loan, any increase to the outstanding principal balance of a Mortgage Loan by adding to the Stated Principal Balance unpaid principal and interest and other amounts owing under the Mortgage Loan, any Principal Forbearance Amount and any other modification, in each case pursuant to a modification of a Mortgage Loan that is in default or for which, in the judgment of the Servicer of such Mortgage Loan, default is reasonably foreseeable in accordance with the related
Servicing Agreement.







Servicing Officer:  Any officer of a Servicer involved in, or responsible for, the administration and servicing of the Mortgage Loans whose name and facsimile signature appear on a list of servicing officers furnished to the Master Servicer by the Servicers on the Closing Date pursuant to the Servicing Agreements, as such list may from time to time be amended.


 


Startup Day:  The day designated as such pursuant to Section 10.01(b) hereof.


 


Stated Principal Balance:  As to any Mortgage Loan and date of determination, the unpaid principal balance of such Mortgage Loan as of the most recent Due Date as determined by the amortization schedule for the Mortgage Loan at the time relating thereto (before any adjustment to such amortization schedule by reason of any moratorium or similar waiver or grace period) after giving effect to any previous Servicing Modification, Principal Prepayments and related Liquidation Proceeds allocable to principal and to the payment of principal due on such Due Date (but not unscheduled Principal Prepayments received on such Due Date) and irrespective of
any delinquency in payment by the related Mortgagor.


 


Step-Down Test:  As to any Distribution Date, the test will be satisfied if both of the following conditions are met:







First, the aggregate outstanding principal balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in foreclosure, REO or bankruptcy status), Mortgage Loans subject to a Servicing Modification within the twelve months prior to that Distribution Date and any Mortgage Loans 120 or more days Delinquent that were purchased by the Controlling Holder within the 12 months prior to that Distribution Date, averaged over the preceding six month period, as a percentage of the aggregate Class Principal Amount of the Subordinate Certificates on such Distribution Date (without giving effect to any payments on such Distribution Date), does not
equal or exceed 50%; and







Second, cumulative Realized Losses with respect to the Mortgage Loans do not exceed (a) with respect to each Distribution Date occurring in the period from March 2016 to and including February 2017, 30% of the Original Subordinate Class Principal Amount, (b) with respect to each Distribution Date occurring in the period from March 2017 to and including February 2018, 35% of the Original Subordinate Class Principal Amount, (c) with respect to each Distribution Date occurring in the period from March 2018 to and including February 2019, 40% of the Original Subordinate Class Principal Amount, (d) with respect to each Distribution Date in the period from March
2019 to and including February 2020, 45% of


 




  





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the Original Subordinate Class Principal Amount and (e) with respect to the Distribution Date occurring in March 2020 and thereafter, 50% of the Original Subordinate Class Principal Amount.


  


Subcontractor:  Any vendor, subcontractor or other Person that is not responsible for the overall servicing of Mortgage Loans but performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of any Servicer (or a Subservicer of any Servicer), the Master Servicer or the Securities Administrator.


 


Subordinate Certificate:  Any of the Class B-1, Class B-2, Class B-3, Class B-4 or Class B-5 Certificates.


 


Subordinate Class Percentage:  As to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the Class Principal Amount of such Class on such date, and the denominator of which is the aggregate of the Class Principal Amounts of all Classes of Subordinate Certificates on such date.







Subordinate Percentage:  With respect to any Distribution Date, the difference between 100% and the Senior Percentage for such Distribution Date.


  


Subordinate Prepayment Percentage:  With respect to any Distribution Date, the difference between 100% and the Senior Prepayment Percentage for that Distribution Date.


 


Subordinate Principal Distribution Amount:  With respect to any Distribution Date and the Mortgage Loans, an amount equal to the sum of:


 


(1)           the Subordinate Percentage of all amounts described in clause (a) of the definition of “Principal Distribution Amount” for that Distribution Date;


 


(2)           the Subordinate Prepayment Percentage of all amounts described in clauses (b), (c), (d), (e) and (f) of the definition of “Principal Distribution Amount” for that Distribution Date; and


 


(3)           with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the related Prepayment Period, the amount of the Net Liquidation Proceeds allocated to principal received with respect thereto remaining after application thereof pursuant to clause (3) of the definition of “Senior Principal Distribution Amount” for that Distribution Date; and


 


(4)           any amounts described in clauses (1) through (3) for any previous Distribution Date that remain unpaid.







Notwithstanding the above, with respect to each Class of Subordinate Certificates other than the Class B-1 Certificates, if on any Distribution Date the Class Principal Amount of that Class and the aggregate of the Class Principal Amount of all Classes of Subordinate Certificates that have a lower payment priority than that Class was reduced to less than or equal to 1.25% of the Stated Principal Balance of the Mortgage Loans as of the Closing Date, the portion of the Subordinate Principal Distribution Amount otherwise distributable to such Class or Classes on each succeeding Distribution Date will be allocated among the Subordinate Certificates with a higher payment priority, pro rata, based on their respective Class Principal Amounts and the excess, if any, will be included in the Senior Principal Distribution Amount for such Distribution Date.







If on any Distribution Date the aggregate of the Class Principal Amounts of the Subordinate Certificates was reduced to less than or equal to 1.25% of the Stated Principal Balance of the Mortgage Loans as of the Closing Date, the Senior Principal Distribution Amount on each succeeding Distribution Date will include all principal collections on the Mortgage Loans on that Distribution Date, and the Subordinate Principal Distribution Amount will  be zero, until the aggregate of the Class Principal 


 




  





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Amounts of the Senior Certificates is reduced to zero, then to the Subordinate Certificates then outstanding, sequentially in order of payment priority, until the Class Principal Amount of each such Certificate is reduced to zero.


 


Subsequent Recovery:  Any amount recovered by a Servicer (i) with respect to a Liquidated Mortgage Loan (after reimbursement of any unreimbursed Advances or expenses of such Servicer) with respect to which a Realized Loss was incurred after the liquidation or disposition of such Mortgage Loan or (ii) as a Principal Forbearance Amount.


 


Subservicer:  Any Person that (i) services Mortgage Loans on behalf of any Servicer, and (ii) is responsible for the performance (whether directly or through sub-servicers or Subcontractors) of Servicing functions that are identified in Item 1122(d) of Regulation AB required to be performed under this Agreement, any related Servicing Agreement or any sub-servicing agreement.


 


Substitution Amount:  For any month in which an Originator substitutes one or more Qualified Substitute Mortgage Loans for one or more Deleted Mortgage Loans pursuant to a Servicing Agreement, the amount by which the aggregate Purchase Price of all such Deleted Mortgage Loans exceeds the aggregate Stated Principal Balance of the Qualified Substitute Mortgage Loans, together with one month's interest at the applicable Net Mortgage Rate.


 


Tax Matters Person:  With respect to each of the Lower Tier REMIC and the Upper Tier REMIC, the “tax matters person” as specified in the REMIC Provisions which shall initially be the party described as such in Section 10.01(k).


 


Trust Fund:  As defined in Section 2.01 herein.


 


Trustee:  Citibank, N.A., not in its individual capacity but solely as Trustee, or any successor in interest, or if any successor trustee or any co-trustee shall be appointed as herein provided, then such successor trustee and such co-trustee, as the case may be.


 


Trustee Mortgage Files:  With respect to each Mortgage Loan, the Mortgage Documents to be retained in the custody and possession of the Trustee or the Custodian on behalf of the Trustee pursuant to the Custodial Agreement.


 


UCC:  The Uniform Commercial Code as enacted in any applicable jurisdiction from time to time.


  


Underwriter:  Each of Credit Suisse Securities (USA) LLC, Jefferies & Company, Inc. and J.P. Morgan Securities LLC.


 


Underwriter’s Exemption:  Prohibited Transaction Exemption (“PTE”) 89-90 (58 Fed. Reg. 52899 (1990)), as most recently amended and restated by PTE 2007-5 (72 Fed. Reg. 13130 (March 20, 2007)) or any substantially similar administrative exemption granted by the U.S. Department of Labor to the Underwriters.


 


Underwriting Agreement:  The Underwriting Agreement, dated February 18, 2011, among the Seller, the Depositor, Redwood Trust, Inc. and the Underwriters.


 


Upper-Tier REMIC:  As described in the Preliminary Statement to this Agreement.


 


Voting Interests:  The portion of the voting rights of all the Certificates that is allocated to any Certificate for purposes of the voting provisions of this Agreement.  At all times during the term of this Agreement, 99.00% of all Voting Interests shall be allocated to the Class A-1, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates in proportion to their respective Certificate Principal 


 




  





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Amounts.  At all times during the term of this Agreement, 1.00% of all Voting Interests shall be allocated to the Class A-IO Certificates.  Voting Interests shall be allocated among the Certificates of each Class based on their Percentage Interests and no Certificate with a principal amount equal to zero will have any voting rights.  The Class R Certificates and Class LT-R Certificate shall not have any voting rights.


 


Section 1.02                             Calculations Respecting Mortgage Loans.


 


Calculations required to be made pursuant to this Agreement with respect to any Mortgage Loan in the Trust Fund shall be made based upon current information as to the terms of the Mortgage Loans and reports of payments received from the Mortgagor on such Mortgage Loans and payments to be made to the Securities Administrator as supplied to the Securities Administrator by the Master Servicer.  The Securities Administrator shall not be required to recompute, verify or recalculate the information supplied to it by the Master Servicer or any Servicer.


 







ARTICLE II







DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES


 


Section 2.01                             Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.


 


Concurrently with the execution and delivery of this Agreement, the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02 and 2.04, in trust, all right, title and interest of the Depositor in and to the Trust Fund consisting of: (i) the Mortgage Loans, including the Mortgage Notes, the Mortgages, and the right to all payments of principal and interest received on or with respect to the Mortgage Loans after the Cut-off Date (other than Scheduled Payments due on or before such date), and all such payments due after such date but received on or prior to such date and intended by the related Mortgagors to be applied after
such date; (ii) all of the Depositor’s right, title and interest, if any, in and to all amounts from time to time credited to and the proceeds of the Distribution Account, any Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans; (iii) with respect to the Mortgage Loans, to the extent set forth in the Acknowledgements, the Depositor’s rights under the Servicing Agreements and all of the Depositor’s rights under the Mortgage Loan Purchase and Sale Agreement; (iv) all of the Depositor’s right, title and interest, if any, in REO Property and the proceeds thereof; (v) all of the Depositor’s rights under any Insurance Policies related to the Mortgage Loans; and (vi) the Depositor’s security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties; and the Trustee
declares that, subject to the Custodian's review provided for in Section 2.02, it has received and shall hold the Trust Fund, as trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust Fund, all of the Certificates in the authorized denominations specified by the Depositor pursuant to Section 3.01(b).


 


The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in the creation or assumption by the Trustee of any obligation of the Depositor, the Seller or any other Person in connection with the Mortgage Loans or any other agreement or instrument relating thereto except as specifically set forth therein.







Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge that the functions of the Trustee with respect to the custody, acceptance and inspection of the Trustee Mortgage Files and release of Mortgage Documents, and preparation and delivery of the certifications relating to the Trustee Mortgage Files shall be performed by the Custodian pursuant to the terms and conditions of the Custodial Agreement.  In addition, the Trustee is hereby directed to execute, not in its individual capacity but solely as Trustee hereunder, and deliver the Acknowledgements and the Custodial Agreement.  The 


 




  





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Master Servicer, the Depositor, the Securities Administrator and the Certificateholders (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Custodial Agreement and the Acknowledgements solely in its capacity as Trustee and not in its individual capacity.







In connection with such sale, transfer and assignment of the Mortgage Loans, the Depositor does hereby deliver to, and deposit with, or cause to be delivered to and deposited with, the Custodian acting on the Trustee's behalf, the Trustee Mortgage Files.







Section 2.02                             Acceptance of Trust Fund by Trustee; Review of Documentation for Trust Fund. 


 


(a)           The Trustee, by execution and delivery hereof and the below-referenced delivery to the Trustee of the Certification and Exception Report, acknowledges receipt by it (or by the Custodian on its behalf) of the Trustee Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to review thereof by the Custodian on behalf of the Trustee in accordance with Section 3.2 of the Custodial Agreement and the exceptions set forth on the Exception Report.  The Custodian, on behalf of the Trustee, will execute and deliver to the Trustee and the Depositor a Certification and Exception Report on the Closing Date in the
forms required by the Custodial Agreement.


 


(b)           Within 270 days after the Closing Date, the Custodian, on behalf of the Trustee, will, for the benefit of Holders of the Certificates, review each related Trustee Mortgage File to ascertain that all required documents set forth in the Custodial Agreement have been received and appear on their face to conform with the requirements set forth in Sections 3.2 and 3.3 of the Custodial Agreement.


 


(c)           Nothing in this Agreement shall be construed to constitute an assumption by the Trust Fund, the Trustee, the Custodian or the Certificateholders of any unsatisfied duty, claim or other liability on any Mortgage Loan or to any Mortgagor.


 


(d)           Each of the parties hereto acknowledges that the Custodian shall perform the applicable review of the related Mortgage Loans and respective certifications as provided in the Custodial Agreement.


 


(e)           Upon execution of this Agreement, the Depositor hereby delivers to the Trustee and the Trustee acknowledges receipt of the Acknowledgements, together with the Servicing Agreements and the Mortgage Loan Purchase and Sale Agreement.


 


Section 2.03                             Representations and Warranties of the Depositor.  


 


(a)           The Depositor hereby represents and warrants to the Trustee, for the benefit of the Certificateholders, and to the Master Servicer and the Securities Administrator, as of the Closing Date or such other date as is specified, that:


 


(i)           the Depositor is a corporation duly organized, validly existing and in good standing under the laws governing its creation and existence and has full corporate power and authority to own its property, to carry on its business as presently conducted, to enter into and perform its obligations under this Agreement, and to create the trust pursuant hereto;


 


(ii)           the execution and delivery by the Depositor of this Agreement have been duly authorized by all necessary corporate action on the part of the Depositor; neither the execution and delivery of this Agreement, nor the consummation of the transactions herein contemplated, nor compliance with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on the Depositor or its properties or the certificate of incorporation or bylaws of the Depositor;


 




  





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(iii)           the execution, delivery and performance by the Depositor of this Agreement and the consummation of the transactions contemplated hereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of any other action in respect of, any state, federal or other governmental authority or agency, except such as has been obtained, given, effected or taken prior to the date hereof;


 


(iv)           this Agreement has been duly executed and delivered by the Depositor and, assuming due authorization, execution and delivery by the Trustee, the Master Servicer and the Securities Administrator, constitutes a valid and binding obligation of the Depositor enforceable against it in accordance with its terms except as such enforceability may be subject to (A) applicable bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally and (B) general principles of equity regardless of whether such enforcement is considered in a proceeding in equity or at law;


 


(v)           there are no actions, suits or proceedings pending or, to the knowledge of the Depositor, threatened or likely to be asserted, against or affecting the Depositor, before or by any court, administrative agency, arbitrator or governmental body (A) with respect to any of the transactions contemplated by this Agreement or (B) with respect to any other matter which in the judgment of the Depositor will be determined adversely to the Depositor and will if determined adversely to the Depositor materially and adversely affect it or its business, assets, operations or condition, financial or otherwise, or adversely affect its ability to perform its
obligations under this Agreement;


 


(vi)           immediately prior to the transfer and assignment of the Mortgage Loans to the Trustee, the Depositor was the sole owner and holder of each Mortgage Loan, and the Depositor had good and marketable title thereto, and had full right to transfer and sell each Mortgage Loan to the Trustee free and clear, subject only to (1) liens of current real property taxes and assessments not yet due and payable and, if the related Mortgaged Property is a condominium unit, any lien for common charges permitted by statute, (2) covenants, conditions and restrictions, rights of way, easements and other matters of public record as of the date of recording of such
Mortgage acceptable to mortgage lending institutions in the area in which the related Mortgaged Property is located and specifically referred to in the lender’s title insurance policy or attorney’s opinion of title and abstract of title delivered to the originator of such Mortgage Loan, and (3) such other matters to which like properties are commonly subject which do not, individually or in the aggregate, materially interfere with the benefits of the security intended to be provided by the Mortgage, of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest, and had full right and authority, subject to no interest or participation of, or agreement with, any other party, to sell and assign each Mortgage Loan pursuant to this Agreement;


 


(vii)           This Agreement creates either a sale or a valid and continuing security interest (as defined in the UCC), in the Mortgage Loans in favor of the Trustee, which security interest is prior to all other liens, and is enforceable as such against creditors of and purchasers from the Depositor;


 


(viii)          The Mortgage Notes constitute “instruments” within the meaning of the applicable UCC;


 


(ix)           Other than the security interest granted to the Trustee pursuant to this Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Mortgage Loans.  The Depositor has not authorized the filing of and is not aware of any financing statement against the Depositor that includes a description of the collateral covering the Mortgage Loans other than a financing statement relating to the security interest granted to the Trustee hereunder or that has been terminated.  The Depositor is not aware of any judgment or tax lien filings against the Depositor;


 


(x)           None of the Mortgage Loans have any marks or notations indicating that such Mortgage Loans have been pledged, assigned or otherwise conveyed to any Person other than the Trustee; and


 




  





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(xi)           The Depositor has received all consents and approvals required by the terms of the Mortgage Loans to convey the Mortgage Loans hereunder to the Trustee.


 


The foregoing representations made in this Section 2.03 shall survive the termination of this Agreement and shall not be waived by any party hereto.


 


Section 2.04                             Discovery of Seller Breach; Repurchase of Mortgage Loans.


 


(a)           Pursuant to Section 2 of the Mortgage Loan Purchase and Sale Agreement, the Seller has (i)  represented and warranted as of the Closing Date that, immediately prior to its transfer of Mortgage Loans under the Mortgage Loan Purchase and Sale Agreement, the Seller owned and had good, valid and marketable title to the Mortgage Loans free and clear of any Lien, claim or encumbrance of any Person and (ii) made certain other representations and warranties with respect to the Mortgage Loans, and each of the Depositor and the Trustee intend that the Mortgage Loans (including any Qualified Substitute Mortgage Loans) included in the Trust Fund
satisfy such representations and warranties.  The Depositor, for the benefit of the Trustee and the Certificateholders, hereby assigns any rights it has against the Seller with respect to such representations and warranties to the Trustee, and the Seller acknowledges that it has agreed to comply with the provisions of this Section 2.04 in respect of a breach of any of such representations and warranties.


 


It is understood and agreed that the representations and warranties set forth in Section 2 of the Mortgage Loan Purchase and Sale Agreement shall survive delivery of the Trustee Mortgage Files and the sale and assignment of each Mortgage Loan to the Trustee and shall continue throughout the term of this Agreement.  Upon discovery by the Depositor or the Seller of the breach by the Seller of any representation or warranty under the Mortgage Loan Purchase and Sale Agreement in respect of any Mortgage Loan, which materially adversely affects the value of that Mortgage Loan or the interest therein of the Certificateholders (a “Defective Mortgage Loan”) (each of such parties hereby agreeing to
give written notice thereof to the Trustee and the other of such parties), the Trustee, or its designee, shall promptly notify the Depositor in writing of such breach and request that the Depositor cure or cause the cure of such breach within 90 days from the earlier of the date that the Depositor discovered or was notified of such breach, and if the Depositor does not cure or cause the cure of such breach in all material respects during such period, the Trustee shall enforce the Seller’s obligation under the Mortgage Loan Purchase and Sale Agreement to repurchase that Mortgage Loan from the Trust Fund at the Purchase Price on or prior to the Determination Date following the expiration of such 90-day period; provided, however, that, in connection with any such breach that could not reasonably have been cured within such
90-day period, the Seller shall be required to repurchase the Mortgage Loan no later than 120 days after its discovery or notice of such breach, and provided further, that, if such breach would cause the Mortgage Loan to be other than a “qualified mortgage” (as defined in the Code), then notwithstanding the previous provisions of this paragraph, the Seller shall be required to repurchase the Defective Mortgage Loan within 60 days from the date the defect was discovered.  The Purchase Price for the repurchased Mortgage Loan shall be deposited in the Distribution Account, and the Trustee, or its designee, upon receipt of written certification of such deposit, shall release to the Seller, the related Trustee Mortgage File and shall execute and deliver such instruments of transfer or assignment, in each case without recourse, representation or warranties, as either
party shall furnish to the Trustee and as shall be necessary to vest in such party any Mortgage Loan released pursuant hereto and the Trustee, or its designee, shall have no further responsibility with regard to such Trustee Mortgage File (it being understood that the Trustee shall have no responsibility for determining the sufficiency of such assignment for its intended purpose).  It is understood and agreed that the obligation of the Seller to cure, to cause the cure of or to repurchase any Mortgage Loan as to which such a breach has occurred and is continuing shall constitute the sole remedy against the such party respecting such omission, defect or breach available to the Trustee on behalf of the Certificateholders. Costs and expenses incurred by the Trustee pursuant to this Section 2.04, to the extent not
reimbursed by the Seller, shall be reimbursed by the Trust Fund, subject to the limitation in clause (C) of the definition of Available Distribution Amount.  The Trustee hereby directs the Master Servicer, and the Master Servicer hereby accepts such direction, to pursue any such claim in accordance with this Section 2.04(a) on behalf of the Trustee.


 




  





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(b)          The Seller indemnifies and holds the Trust Fund, the Trustee, the Master Servicer, the Securities Administrator, the Depositor and each Certificateholder harmless against any and all taxes, claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that the Trust Fund, the Trustee, the Master Servicer, the Securities Administrator, the Depositor and any Certificateholder may sustain in connection with any actions of the Seller relating to a repurchase of a Mortgage Loan other than in compliance with the terms of this Section 2.04 and the Mortgage Loan Purchase and Sale
Agreement, to the extent that any such action causes an Adverse REMIC Event.


 


Section 2.05                             Obligations in Respect of Alleged Breach of Originator Representations and Warranties.







(a)           For so long as there is a Controlling Holder under this Agreement, the Trustee shall pursue an action in respect of an alleged breach by an Originator of a representation and warranty relating to the characteristics of the Mortgage Loans set forth in Section 3.03 of the Servicing Agreement in respect of PHH Mortgage Corporation and Section 7.01 of the Servicing Agreement in respect of First Republic Bank only upon its receipt of (i) written direction to do so by the Holders of 66 2/3% of the aggregate Voting Interests of the Class A-1 and Class A-IO Certificates and (ii) an agreement by Holders directing the Trustee to take such action to
provide in advance to the Trustee funds to pay for any costs and expenses incurred by the Trustee or the Master Servicer, and to provide any indemnification reasonably requested by the Trustee and the Master Servicer.  The Trustee shall provide notice to the Controlling Holder prior to taking any such action.  However, Certificateholders shall not have the right to require the Trustee to pursue any action with respect to any Mortgage Loan as to which a final and binding decision by an arbitrator has already been issued, regardless of the particular claims made.  In connection with any such action, the Master Servicer shall seek reimbursement for the Master Servicer's costs and expenses from the applicable Originator under the terms of the related Servicing Agreement.  If the Master Servicer recovers any such costs and expenses from the Originator,
the Master Servicer will pay such amounts to the Certificateholders that provided funds to the Trustee pursuant to the agreement described in clause (ii) above.  Costs and expenses incurred by the Trustee and the Master Servicer pursuant to this Section 2.05(a) shall not be reimbursed by the Trust Fund.  The Trustee hereby directs the Master Servicer, and the Master Servicer hereby accepts such direction, to pursue any such claim in accordance with this Section 2.05(a) on behalf of the Trustee.







(b)           If there is no Controlling Holder under this Agreement, the Master Servicer shall review or cause to be reviewed each Mortgage Loan that has been Delinquent for more than 120 days, other than any such Mortgage Loan that was the subject of a previous arbitration proceeding under the related Servicing Agreement, to review whether there is evidence of the occurrence of any breaches of the representations and warranties given by an Originator under the related Servicing Agreement or if the Seller has a related repurchase obligation in the case of such breach that existed only as of the Closing Date.  The Master Servicer may engage a third
party or Wells Fargo Bank, N.A., to perform such review and report its findings to the Master Servicer.  Any such review shall include, at a minimum, a review as to whether the Mortgage Loan was underwritten in accordance with the Originator's underwriting standards in effect at the time of origination, whether the Mortgage Loan was originated in accordance with all applicable laws and regulations, and whether any fraud may have occurred in connection with the origination of the Mortgage Loan.   If as a result of such review, there is evidence that a breach of representation or warranty may have occurred requiring the Originator or the Seller to repurchase the related Mortgage Loan, then the Master Servicer will enforce such repurchase obligation, including participating in an arbitration proceeding pursuant to the related Servicing Agreement, if
necessary.  Any fees, costs and expenses incurred by the Master Servicer pursuant to this Section 2.05(b), to the extent not reimbursed by the Originator within ninety days of written request from the Master Servicer, shall be reimbursed by the Trust Fund, subject to the limitation in clause (C) of the definition of Available Distribution Amount.  In connection with any such action against an Originator, the Master Servicer shall pursue reimbursement for the fees, costs and expenses of the Master Servicer from such Originator under 


 




  





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the terms of the related Servicing Agreement.  If the Master Servicer recovers any such fees, costs and expenses from the Originator, the Master Servicer will pay such amounts to the Trust Fund.







(c)           Furthermore, if there is no Controlling Holder under this Agreement, the Trustee will pursue an action in respect of an alleged breach by an Originator of a representation and warranty relating to the characteristics of the Mortgage Loans set forth in Section 3.03 of the Servicing Agreement in respect of PHH Mortgage Corporation and Section 7.01 of the Servicing Agreement in respect of First Republic Bank only upon its receipt of  (i) written direction to do so by the Holders of more than 50% of the Aggregate Voting Interests of the Certificates and (ii) an agreement by Holders directing the Trustee to take such action to provide in
advance to the Trustee funds to pay for any costs and expenses incurred by the Trustee and the Master Servicer, and to provide any indemnification reasonably requested by the Trustee and the Master Servicer.  In connection with any such action, the Master Servicer shall seek reimbursement for the Master Servicer’s costs and expenses from such Originator under the terms of the applicable Servicing Agreement.  If the Master Servicer recovers any such costs and expenses from the Originator, the Master Servicer will pay such amounts to the Certificateholders that provided funds to the Trustee pursuant to the agreement described in clause (ii) above.  Costs and expenses incurred by the Trustee and the Master Servicer pursuant to this Section 2.05(c), to the extent not reimbursed by the Originator or the applicable Certificateholders, shall be reimbursed by
the Trust Fund, subject to the limitation in clause (C) of the definition of Available Distribution Amount.  The Trustee hereby directs the Master Servicer, and the Master Servicer hereby accepts such direction, to pursue any such claim in accordance with this Section 2.05(c) on behalf of the Trustee.







(d)           If an Originator has breached a representation under the related Servicing Agreement stating that a Mortgage Loan is a “qualified mortgage” (as defined in the REMIC Provisions) and the Originator fails to repurchase such non-qualified Mortgage Loan within ninety days from the date the defect was discovered, the Depositor shall use commercially reasonable efforts to sell such Mortgage Loan for its fair market value, as determined by the Depositor and which may be less than its outstanding principal balance, within ninety days from the date the defect was discovered.  The Trustee will release the applicable Mortgage Loan upon
receipt of the sale price in accordance with the procedures set forth in Section 2.04(a) hereof.







Section 2.06                             Intention of Parties.


 


(a)           Notwithstanding any other provision of this Agreement, it is intended by each of the parties hereto that the conveyance of the Depositor’s right, title and interest in and to property constituting the Trust Fund pursuant to this Agreement shall constitute, and shall be construed as, a sale of such property and not a grant of a security interest to secure a loan or other obligation, so that the Trustee shall be the owner of the Trust Fund for the benefit of the holders of the Certificates.


 


However, in the event that, notwithstanding the intent of the parties, the Trust Fund is held to be the property of the Depositor, or if for any other reason this Agreement is held or deemed to create a security interest in the Trust Fund, then (a) this Agreement shall constitute a security agreement, and (b) the conveyance provided for in Section 2.01 shall be deemed to be a grant by the Depositor to the Trustee of, and the Depositor hereby grants to the Trustee, to secure all of the Depositor’s obligations hereunder, a security interest in all of the
Depositor’s right, title, and interest, whether now owned or hereafter acquired, in and to (i) the Mortgage Loans, (ii) all other property in the Trust Fund, (iii) all accounts, chattel paper, deposit accounts, documents, general intangibles, goods, instruments, investment property, letter of credit rights, letters of credit, money, and oil, gas, and other minerals, consisting of, arising from, or relating to, any of the foregoing, and (iv) all proceeds of the foregoing.


 


(b)           The Depositor shall, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Trust Fund, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement.  The Depositor will, at its own expense, make all initial filings on or about the Closing Date and shall forward a copy of such filing or 


 




  





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filings to the Trustee.  Without limiting the generality of the foregoing, the Depositor shall prepare and forward for filing, or shall cause to be forwarded for filing, at the expense of the Depositor, all filings necessary to maintain the effectiveness of any original filings necessary under the relevant UCC to perfect the Trustee’s security interest in the Trust Fund, including without limitation (i) continuation statements, and (ii) such other statements as may be occasioned by (A) any change of name of the Seller, the Depositor or the Trustee, (B) any change of location of the Seller or the Depositor, or (C) any change under the relevant UCC or other applicable laws.  Neither of
the Seller nor the Depositor shall organize under the law of any jurisdiction other than the State under which each is organized as of the Closing Date (whether changing its jurisdiction of organization or organizing under the laws of an additional jurisdiction) without giving 30 days prior written notice of such action to its immediate and intermediate transferee, including the Trustee.  Before effecting such change, the Seller or the Depositor proposing to change its jurisdiction of organization shall prepare and file in the appropriate filing office any financing statements or other statements necessary to continue the perfection of the interests of its immediate and mediate transferees, including the Trustee, in the Mortgage Loans.  In connection with the transactions contemplated by this Agreement, each of the Seller and the Depositor authorizes its immediate or
mediate transferee to file in any filing office any initial financing statements, any amendments to financing statements, any continuation statements, or any other statements or filings described in this paragraph (b).


 


Section 2.07                             Controlling Holder Purchase Right and Assumption of Servicing Agreement Rights.


 


(a)           The Controlling Holder may, at its option, purchase from the Trust Fund any Mortgage Loan that is 120 days or more Delinquent for a purchase price, determined in accordance with guidelines adopted by the Controlling Holder, to be the then fair market value of such Mortgage Loan at the time of purchase, provided that at the time of repurchase the Mortgage Loan remains Delinquent.  Upon receipt of such purchase price from the Controlling Holder, the Trustee shall release the applicable Mortgage Loan to the Controlling Holder in accordance with the procedures set forth in Section 2.04(a) hereof.   Pursuant to each Servicing
Agreement, any purchase under this Section 2.07 shall be subject to the prior consent of the applicable Servicer, which consent shall be governed by Section 17(b) of the Acknowledgement in respect of PHH Mortgage Corporation and Section 14(b) of the Acknowledgement in respect of First Republic Bank, as applicable.







(b)           By its purchase of the applicable Class of Subordinate Certificates, the Controlling Holder assumes the rights and all related responsibilities of the Trustee as  “Purchaser” under each Servicing Agreement as set forth in Section 16(a) of the Acknowledgement in respect of PHH Mortgage Corporation and Section 13(a) of the Acknowledgement in respect of First Republic Bank, and shall be entitled to exercise such rights in its sole discretion.  The Depositor, the Controlling Holder and each other Certificateholder, by its acceptance of any Certificate or any beneficial ownership interest therein, each acknowledges and
agrees that (i) the Controlling Holder may exercise such rights in such a manner that may not be in the best interests of all of the Certificateholders, (ii) none of the Master Servicer, the Securities Administrator or the Trustee shall have any liability with respect to any acts or omissions of the Controlling Holder in the exercise of such rights, and (iii) none of the Master Servicer, the Securities Administrator or the Trustee shall have any duty or obligation to exercise any such rights in the place or stead of the Controlling Holder (so long as there is a Controlling Holder) or to monitor or oversee the exercise of any such rights by the Controlling Holder.  The Controlling Holder agrees that it shall exercise its rights in such a manner as will maximize returns to all Classes of Certificateholders taken as a whole.







(c)           Each of the Master Servicer, the Securities Administrator and the Trustee shall cooperate with the Controlling Holder as may be reasonably necessary for the Controlling Holder to exercise its rights hereunder and under the Servicing Agreements; provided, however, that, except as otherwise provided in Section 2.05, neither the Master Servicer nor the Trustee shall be required to take any  legal action or participate in or facilitate any arbitration proceeding or other litigation relating to the Mortgage Loans or the obligations of the Originators or Servicers with respect thereto unless and until it is directed in writing by the
Controlling Holder and it is assured of the recovery of its expenses from the Controlling Holder.


 




  





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(d)           The Controlling Holder shall indemnify each of the Master Servicer, the Securities Administrator and the Trustee and hold it harmless from and against any claim, loss, liability, damage, cost or expense (including, without limitation, reasonable legal fees and expenses) incurred or expended by the Master Servicer, the Securities Administrator or the Trustee (without negligence or willful misconduct on the part of the Master Servicer, the Securities Administrator or the Trustee) with respect to claims of a third party arising from any act or omission of the Controlling Holder in the exercise of its rights as Controlling Holder hereunder and under
the Servicing Agreements.







(e)           If  the Controlling Holder transfers its ownership interest in any Class of Certificates in a manner resulting in there being no Controlling Holder under this Agreement or a change in the Controlling Holder, it shall so notify the Master Servicer, the Securities Administrator and the Trustee.   If the Depositor has actual knowledge of a change in Controlling Holder or that there is no Controlling Holder under this Agreement, it shall so notify the Master Servicer, the Securities Administrator and the Trustee.












ARTICLE III







THE CERTIFICATES


 


Section 3.01                             The Certificates. 


 


(a)           The Certificates shall be issuable in registered form only and shall be securities governed by Article 8 of the New York UCC.  The Certificates will be evidenced by one or more certificates, ownership of which will be held in the minimum denominations in Certificate Principal Amount or Notional Amount specified in the Preliminary Statement to this Agreement and in integral multiples of $1 in excess thereof, or in the Percentage Interests specified in the Preliminary Statement to this Agreement, as applicable.


 


(b)           The Certificates shall be executed by manual or facsimile signature on behalf of the Trustee by an authorized officer of the Trustee.  Each Certificate shall, on original issue, be authenticated by the Authenticating Agent upon the order of the Depositor upon the sale of the Mortgage Loans to the Trustee  as described in Section 2.01.  No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless there appears on such Certificate a certificate of authentication substantially in the form provided for herein, executed by an authorized officer of the Authenticating Agent, by
manual signature, and such certification upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder.  All Certificates shall be dated the date of their authentication.  







(c)           The Class B-4, Class B-5, Class R and Class LT-R Certificates are offered and sold in reliance on the exemption from registration under Rule 144A under the Securities Act and shall be issued with the applicable legends set forth in Exhibit A.  The Class B-4 and Class B-5 Certificates shall be issued initially as Book-Entry Certificates and the Class R and Class LT-R Certificates shall be issued only as Definitive Certificates.  







Section 3.02                             Registration. 


 


The Securities Administrator is hereby appointed, and the Securities Administrator hereby accepts its appointment as, initial Certificate Registrar in respect of the Certificates and shall maintain books for the registration and for the transfer of Certificates (the “Certificate Register”).  A registration book shall be maintained for the Certificates collectively.  The Certificate Registrar may at any time resign by giving at least 30 days' advance written notice of resignation to the Trustee, the Depositor and the Master Servicer.  The Trustee may at any time remove the Certificate Registrar by giving written notice of such removal to such Certificate Registrar, the Depositor
and the Master Servicer.  Upon receiving a notice of resignation or upon such a removal, the Trustee may appoint a bank or trust company to act as successor certificate 


 




  





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registrar, shall give written notice of such appointment to the Depositor and the Master Servicer and shall mail notice of such appointment to all Holders of Certificates.  Any successor certificate registrar upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as Certificate Registrar. The Certificate Registrar may appoint, by a written instrument delivered to the Holders and the Master Servicer, any bank or trust company to act as co-registrar under such conditions as the Certificate Registrar may prescribe; provided, however, that the Certificate Registrar shall not be relieved of any of its duties or responsibilities hereunder by reason of such appointment.


 


Section 3.03                             Transfer and Exchange of Certificates. 


 


(a)           A Certificate (other than Book-Entry Certificates which shall be subject to Section 3.09 hereof) may be transferred by the Holder thereof only upon presentation and surrender of such Certificate at the office of the Certificate Registrar duly endorsed or accompanied by an assignment duly executed by such Holder or his duly authorized attorney in such form as shall be satisfactory to the Certificate Registrar.  Upon the transfer of any Certificate in accordance with the preceding sentence, the Trustee shall execute, and the Authenticating Agent shall authenticate and deliver to the transferee, one or more new Certificates of the same Class
and evidencing, in the aggregate, the same aggregate Certificate Principal Amount (or Notional Amount) as the Certificate being transferred.  No service charge shall be made to a Certificateholder for any registration of transfer of Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any registration of transfer of Certificates.


 


(b)           A Certificate may be exchanged by the Holder thereof for any number of new Certificates of the same Class, in authorized denominations, representing in the aggregate the same Certificate Principal Amount (or Notional Amount) as the Certificate surrendered, upon surrender of the Certificate to be exchanged at the office of the Certificate Registrar duly endorsed or accompanied by a written instrument of transfer duly executed by such Holder or his duly authorized attorney in such form as is satisfactory to the Certificate Registrar.  Certificates delivered upon any such exchange will evidence the same obligations, and will be entitled to
the same rights and privileges, as the Certificates surrendered.  No service charge shall be made to a Certificateholder for any exchange of Certificates, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.  Whenever any Certificates are so surrendered for exchange, the Trustee shall execute, and the Authenticating Agent shall authenticate, date and deliver the Certificates which the Certificateholder making the exchange is entitled to receive.


 


(c)           By acceptance of a Restricted Certificate, whether upon original issuance or subsequent transfer, each Holder of such a Certificate acknowledges the restrictions on the transfer of such Certificate set forth thereon and agrees that it will transfer such a Certificate only as provided herein.


 


The following restrictions shall apply with respect to the transfer and registration of transfer of a Restricted Certificate to a transferee that takes delivery in the form of a Definitive Certificate:


 


(i)           The Certificate Registrar shall register the transfer of a Restricted Certificate if the requested transfer is (x) to the Depositor or an affiliate (as defined in Rule 405 under the Securities Act) of the Depositor or (y) being made to a “qualified institutional buyer” (a “QIB”) as defined in Rule 144A under the Securities Act by a transferor that has provided the Certificate Registrar with a certificate in the form of Exhibit E-1 hereto and has furnished to the Certificate Registrar a certificate of the transferee in the form of Exhibit E-2 hereto; and


 


(ii)           The Certificate Registrar shall register the transfer of a Restricted Certificate if the requested transfer is being made to an “accredited investor” under Rule 501(a)(1), (2), (3) or (7) under the Securities Act, or to any Person all of the equity owners in which are such accredited investors, by a 


 




  





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transferor who furnishes to the Certificate Registrar a letter of the transferee substantially in the form of Exhibit F hereto.


 


(d)    (i) No transfer of an ERISA-Restricted Certificate in the form of a Definitive Certificate shall be made to any Person or shall be effective unless the Certificate Registrar, on behalf of the Securities Administrator, has received (A) a certificate substantially in the form of Exhibit G hereto (or Exhibit B, in the case of a Residual Certificate) from such transferee or (B) an Opinion of Counsel satisfactory to the Certificate Registrar to the effect that the purchase and holding of such a Certificate will not constitute or result in prohibited transactions under Title I of ERISA or Section 4975 of the Code and will not subject
the Certificate Registrar, the Trustee, the Master Servicer, the Depositor or the Securities Administrator to any obligation in addition to those undertaken in this Agreement; provided, however, that the Certificate Registrar will not require such certificate or opinion in the event that, as a result of a change of law or otherwise, counsel satisfactory to the Certificate Registrar has rendered an opinion to the effect that the purchase and holding of an ERISA-Restricted Certificate by a Plan or a Person that is purchasing or holding such a Certificate with the assets of a Plan will not constitute or result in a prohibited transaction under Title I of ERISA or Section 4975 of the Code.  Each Transferee of an ERISA-Restricted Certificate or a Certificate that is not an ERISA-Restricted Certificate but is not subject to an
ERISA-Qualifying Underwriting that is a Book-Entry Certificate shall be deemed to have made the representations set forth in Exhibit G.  The preparation and delivery of the certificate and opinions referred to above shall not be an expense of the Trust Fund, the Certificate Registrar, the Trustee, the Master Servicer, the Depositor or the Securities Administrator.


 


Notwithstanding the foregoing, no opinion or certificate shall be required for the initial issuance of the ERISA-Restricted Certificates.  The Certificate Registrar shall have no obligation to monitor transfers of Book-Entry Certificates that are ERISA-Restricted Certificates and shall have no liability for transfers of such Certificates in violation of the transfer restrictions.  The Certificate Registrar shall be under no liability to any Person for any registration of transfer of any ERISA-Restricted Certificate that is in fact not permitted by this Section 3.03(d) and none of the Securities Administrator, the Trustee or the Paying Agent shall
have any liability for making any payments due on such Certificate to the Holder thereof or taking any other action with respect to such Holder under the provisions of this Agreement so long as the transfer was registered by the Certificate Registrar in accordance with the foregoing requirements.  The Securities Administrator, on behalf of the Trustee, shall be entitled, but not obligated, to recover from any Holder of any ERISA-Restricted Certificate that was in fact a Plan or a Person acting on behalf of, or an entity holding “plan assets” of, a Plan any payments made on such ERISA-Restricted Certificate at and after either such time.  Any such payments so recovered by the Securities Administrator shall be paid and delivered by the Securities Administrator to the last preceding Holder of such Certificate that is not such a Plan or Person acting on
behalf of, or an entity holding “plan assets” of, a Plan.


 


(ii) If any ERISA-Restricted Certificate, or any interest therein, is acquired or held in violation of the provisions of the preceding two paragraphs, then upon receipt by the Certificate Registrar of written notice that the registration of transfer of such ERISA-Restricted Certificate was not permitted by this Section 3.03(d), the next preceding permitted beneficial owner will be treated as the beneficial owner of that ERISA-Restricted Certificate, retroactive to the date of transfer to the purported beneficial owner.  Any purported beneficial owner whose acquisition or holding of an ERISA-Restricted Certificate, or interest therein, was effected in
violation of the provisions of the preceding paragraph shall indemnify to the extent permitted by law and hold harmless the Depositor and the Certificate Registrar from and against any and all liabilities, claims, costs or expenses incurred by such parties as a result of such acquisition or holding.


 


(e)           As a condition of the registration of transfer or exchange of any Certificate, the Certificate Registrar may require the certified taxpayer identification number of the owner of the Certificate and the payment of a sum sufficient to cover any tax or other governmental charge imposed in connection therewith; provided, however, that the Certificate Registrar shall have no obligation to require such payment or to determine whether or not any such tax or charge may be applicable.  No service charge shall be made to the Certificateholder for any registration, transfer or exchange of a
Certificate.


 




  





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(f)           Notwithstanding anything to the contrary contained herein, no Residual Certificate may be owned, pledged or transferred, directly or indirectly, by or to (i) a Disqualified Organization or (ii) an individual, corporation or partnership or other person unless such person is (A) not a Non-U.S. Person or (B) is a Non-U.S. Person that holds a Residual Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective Internal Revenue Service Form W-8ECI or successor form at the time and in the manner required by the Code (any such person who is not
covered by clause (A) or (B) above is referred to herein as a “Non-permitted Foreign Holder”).


 


Prior to and as a condition of the registration of any transfer, sale or other disposition of a Residual Certificate, the proposed transferee shall deliver to the Certificate Registrar, on behalf of the Trustee, an affidavit in substantially the form attached hereto as Exhibit B representing and warranting, among other things, that such transferee is neither a Disqualified Organization, an agent or nominee acting on behalf of a Disqualified Organization, nor a Non-permitted Foreign Holder (any such transferee, a “Permitted Transferee”), and the proposed transferor shall deliver to the Certificate Registrar an affidavit in substantially the form attached hereto as Exhibit C.  In addition, the
Certificate Registrar may (but shall have no obligation to) require, prior to and as a condition of any such transfer, the delivery by the proposed transferee of an Opinion of Counsel, addressed to the Certificate Registrar and the Depositor, that such proposed transferee or, if the proposed transferee is an agent or nominee, the proposed beneficial owner, is not a Disqualified Organization, agent or nominee thereof, or a Non-permitted Foreign Holder.  Notwithstanding the registration in the Certificate Register of any transfer, sale, or other disposition of a Residual Certificate to a Disqualified Organization, an agent or nominee thereof, or Non-permitted Foreign Holder, such registration shall be deemed to be of no legal force or effect whatsoever and such Disqualified Organization, agent or nominee thereof, or Non-permitted Foreign Holder shall not be deemed to be a
Certificateholder for any purpose hereunder, including, but not limited to, the receipt of distributions on such Residual Certificate.  The Depositor, the Certificate Registrar, the Trustee, the Securities Administrator and the Paying Agent shall be under no liability to any Person for any registration or transfer of a Residual Certificate to a Disqualified Organization, agent or nominee thereof or Non-permitted Foreign Holder or for the Paying Agent making any payments due on such Residual Certificate to the Holder thereof or for taking any other action with respect to such Holder under the provisions of this Agreement, so long as the transfer was effected in accordance with this Section 3.03(f), unless a Responsible Officer of the Certificate Registrar shall have actual knowledge at the time of such transfer or the time of such payment or other action that the transferee is
a Disqualified Organization, or an agent or nominee thereof, or Non-permitted Foreign Holder.  The Certificate Registrar shall be entitled, but not obligated, to recover from any Holder of a Residual Certificate that was a Disqualified Organization, agent or nominee thereof, or Non-permitted Foreign Holder at the time it became a Holder or any subsequent time it became a Disqualified Organization, agent or nominee thereof, or Non-permitted Foreign Holder, all payments made on such Residual Certificate at and after either such times (and all costs and expenses, including but not limited to attorneys’ fees, incurred in connection therewith).  Any payment (not including any such costs and expenses) so recovered by the Certificate Registrar shall be paid and delivered to the last preceding Holder of such Residual Certificate.


 


If any purported transferee shall become a registered Holder of a Residual Certificate in violation of the provisions of this Section 3.03(f), then upon receipt by the Certificate Registrar of written notice that the registration of transfer of such Residual Certificate was not in fact permitted by this Section 3.03(f), the last preceding Permitted Transferee shall be restored to all rights as Holder thereof retroactive to the date of such registration of transfer of such Residual Certificate.  The Depositor, the Certificate Registrar, the Securities Administrator, the Trustee and the Paying Agent shall be under no liability to any Person for any registration of transfer of a Residual Certificate that is
in fact not permitted by this Section 3.03(f), or for the Paying Agent making any payment due on such Certificate to the registered Holder thereof or for taking any other action with respect to such Holder under the provisions of this Agreement so long as the transfer was registered upon receipt of the affidavit described in the preceding paragraph of this Section 3.03(f).


 




  





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The following legend shall appear on all Residual Certificates:







ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE DEPOSITOR AND THE CERTIFICATE REGISTRAR, ON BEHALF OF THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION 1381(a)(2)(C) OF THE
CODE, (D) AN ELECTING LARGE-PARTNERSHIP WITHIN THE MEANING OF SECTION 775 OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B), (C) OR (D) BEING HEREINAFTER REFERRED TO AS A “DISQUALIFIED ORGANIZATION”), OR (E) AN AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO PURPOSE OF SUCH TRANSFER IS TO ENABLE THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX.  SUCH AFFIDAVIT SHALL INCLUDE CERTAIN REPRESENTATIONS AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND ITS STATUS AS A NON-US PERSON (IF APPLICABLE). NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CLASS [R] [LT-R] CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO
BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THE CLASS [R] [LT-R] CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.


 


(g)           Each Holder or Certificate Owner of a Restricted Certificate, ERISA-Restricted Certificate or Residual Certificate, or an interest therein, by such Holder’s or Owner’s acceptance thereof, shall be deemed for all purposes to have consented to the provisions of this section.







(h)  Neither the Seller nor the Depositor shall be the Holder of any Subordinate Certificates.


 


Section 3.04                             Cancellation of Certificates. 


 


Any Certificate surrendered for registration of transfer or exchange shall be cancelled and retained in accordance with normal retention policies with respect to cancelled certificates maintained by the Trustee or the Certificate Registrar.


 


Section 3.05                             Replacement of Certificates. 


 


If (i) any Certificate is mutilated and is surrendered to the Certificate Registrar or (ii) the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and there is delivered to the Certificate Registrar such security or indemnity as may be required by them to save each of them harmless, then, in the absence of written notice to the Certificate Registrar that such destroyed, lost or stolen Certificate has been acquired by a protected purchaser, the Trustee shall execute and the Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and
Certificate Principal Amount.  Upon the issuance of any new Certificate under this Section 3.05, the Depositor or the Certificate 


 




  





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Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee, the Depositor, the Certificate Registrar or the Securities Administrator) connected therewith.  Any replacement Certificate issued pursuant to this Section 3.05 shall constitute complete and indefeasible evidence of ownership in the applicable Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.


 


If after the delivery of such new Certificate, a protected purchaser of the original Certificate in lieu of which such new Certificate was issued presents for payment such original Certificate, the Depositor, the Securities Administrator, the Certificate Registrar, the Paying Agent and the Trustee or any agent shall be entitled to recover such new Certificate from the Person to whom it was delivered or any Person taking therefrom, except a protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expenses incurred by the Depositor, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Trustee or any agent
in connection therewith.


 


Section 3.06                             Persons Deemed Owners. 


 


Subject to the provisions of Section 3.09 with respect to Book-Entry Certificates, the Depositor, the Securities Administrator, the Master Servicer, the Trustee, the Certificate Registrar, the Paying Agent and any agent of any of them shall treat the Person in whose name any Certificate is registered upon the books of the Certificate Registrar as the owner of such Certificate for the purpose of receiving distributions pursuant to Sections 5.01 and 5.02 and for all other purposes whatsoever, and none of the Depositor, the Securities Administrator, the Master Servicer, the Trustee, the Certificate Registrar, the Paying Agent or any agent of any of them shall be affected by notice to the contrary.


 


Section 3.07                             Temporary Certificates. 


 


(a)           Pending the preparation of definitive Certificates, upon the order of the Depositor, the Trustee shall execute and the Authenticating Agent shall authenticate and deliver temporary Certificates that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Certificates in lieu of which they are issued and with such variations as the authorized officers executing such Certificates may determine, as evidenced by their execution of such Certificates.


 


(b)           If temporary Certificates are issued, the Depositor will cause definitive Certificates to be prepared without unreasonable delay.  After the preparation of definitive Certificates, the temporary Certificates shall be exchangeable for definitive Certificates upon surrender of the temporary Certificates at the office or agency of the Certificate Registrar without charge to the Holder.  Upon surrender for cancellation of any one or more temporary Certificates, the Trustee shall execute and the Authenticating Agent shall authenticate and deliver in exchange therefor a like aggregate Certificate Principal Amount of definitive
Certificates of the same Class in the authorized denominations.  Until so exchanged, the temporary Certificates shall in all respects be entitled to the same benefits under this Agreement as definitive Certificates of the same Class.


 


Section 3.08                             Appointment of Paying Agent. 


 


The Trustee may appoint a Paying Agent (which may be the Trustee) for the purpose of making distributions to the Certificateholders hereunder.  The Trustee hereby appoints the Securities Administrator as the initial Paying Agent.  The Trustee shall cause any Paying Agent, other than the Securities Administrator or itself, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee and the Securities Administrator, and the Securities Administrator as initial Paying Agent hereby agrees with the Trustee, that such Paying Agent will hold all sums held by it for the payment to the Certificateholders in an Eligible Account (which shall be the Distribution
Account) in trust 


 




  





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for the benefit of the Certificateholders entitled thereto until such sums shall be paid to the Certificateholders.  All funds remitted by the Securities Administrator to any such Paying Agent for the purpose of making distributions shall be paid to the Certificateholders on each Distribution Date and any amounts not so paid shall be returned on such Distribution Date to the Securities Administrator.  If the Paying Agent is not the Securities Administrator, the Securities Administrator shall cause to be remitted to the Paying Agent on or before the Business Day prior to each Distribution Date, by wire transfer in immediately available funds, the funds to be distributed on such Distribution
Date.  Any Paying Agent shall be either a bank or trust company or otherwise authorized under law to exercise corporate trust powers.


 


Section 3.09                             Book-Entry Certificates. 


 


(a)           Each Class of Book-Entry Certificates, upon original issuance, shall be issued in the form of one or more typewritten Certificates representing the Book-Entry Certificates.  The Book-Entry Certificates shall initially be registered on the Certificate Register in the name of the nominee of the Clearing Agency, and no Certificate Owner will receive a definitive certificate representing such Certificate Owner’s interest in the Book-Entry Certificates, except as provided in Section 3.09(c).  Unless Definitive Certificates have been issued to Certificate Owners of Book-Entry Certificates pursuant to Section 3.09(c):


 


(i)           the provisions of this Section 3.09 shall be in full force and effect;


 


(ii)           the Certificate Registrar, the Securities Administrator, the Paying Agent and the Trustee shall deal with the Clearing Agency for all purposes (including the making of distributions on the Book-Entry Certificates) as the authorized representatives of the Certificate Owners and the Clearing Agency and shall be responsible for crediting the amount of such distributions to the accounts of such Persons entitled thereto, in accordance with the Clearing Agency’s normal procedures;


 


(iii)           to the extent that the provisions of this Section 3.09 conflict with any other provisions of this Agreement, the provisions of this Section 3.09 shall control; and


 


(iv)           the rights of Certificate Owners shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Certificate Owners and the Clearing Agency and/or the Clearing Agency Participants.  Unless and until Definitive Certificates are issued pursuant to Section 3.09(c), the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit distributions of principal of and interest on the Book-Entry Certificates to such Clearing Agency Participants.


 


(b)           Whenever notice or other communication to the Certificateholders is required under this Agreement, unless and until Definitive Certificates shall have been issued to Certificate Owners pursuant to Section 3.09(c), the Securities Administrator or the Trustee, as the case may be, shall give all such notices and communications specified herein to be given to Holders of the Book-Entry Certificates to the Clearing Agency.


 


(c)           If (i) (A) the Clearing Agency or the Depositor advises the Paying Agent in writing that the Clearing Agency is no longer willing or able to discharge properly its responsibilities with respect to the Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified successor satisfactory to the Depositor and the Paying Agent or (ii) after the occurrence of an Event of Default, Certificate Owners representing beneficial interests aggregating not less than 50% of the Class Principal Amount of a Class of Book-Entry Certificates advise the Paying Agent and the Clearing Agency through the Clearing Agency Participants in writing that the
continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Certificate Owners of a Class of Book-Entry Certificates (each such event, a “Book-Entry Termination”), the Certificate Registrar shall notify the Clearing Agency to effect notification to all Certificate Owners, through the Clearing Agency, of the occurrence of any such event and of the availability of Definitive Certificates to Certificate Owners.  Upon surrender to the Certificate 


 




  





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Registrar of the Book-Entry Certificates by the Clearing Agency, accompanied by registration instructions from the Clearing Agency for registration, the Certificate Registrar shall issue the Definitive Certificates.  None of the Depositor, the Certificate Registrar, the Securities Administrator, the Paying Agent or the Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions.  Upon the issuance of Definitive Certificates all references herein to obligations imposed upon or to be performed by the Clearing Agency shall be deemed to be imposed upon and performed by the Certificate Registrar, to
the extent applicable, with respect to such Definitive Certificates and the Certificate Registrar shall recognize the holders of the Definitive Certificates as Certificateholders hereunder.  












ARTICLE IV







ADMINISTRATION OF THE TRUST FUND


 


Section 4.01                             Custodial Accounts; Distribution Account. 


 


(a)           On or prior to the Closing Date, each Servicer will be required to establish and maintain one or more Custodial Accounts, as provided in the related Servicing Agreements, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the related Servicing Agreement, shall be deposited.  On each Servicer Remittance Date, the Servicers will remit to the Securities Administrator, for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Servicing Agreement.


 


(b)           The Securities Administrator, as Paying Agent for the Trustee, shall establish and maintain an Eligible Account entitled “Distribution Account of Citibank, N.A., as Trustee for the benefit of Sequoia Mortgage Trust 2011-1 Holders of Mortgage Pass-Through Certificates.”  The Securities Administrator shall hold the Distribution Account and all money and other property therein in trust for the benefit of the Certificateholders.  The Securities Administrator shall, promptly upon receipt from the Servicers on each Servicer Remittance Date, deposit into the Distribution Account and retain on deposit until the related
Distribution Date the following amounts:


 


(i)           the aggregate of collections with respect to the Mortgage Loans remitted by the Servicers from the related Custodial Accounts in accordance with the Servicing Agreements;







(ii)           any amounts required to be deposited by the Master Servicer with respect to the Mortgage Loans for the related Due Period pursuant to this Agreement, including the amount of any Advances or Master Servicer Compensating Interest Payments with respect to the Mortgage Loans not paid by the Servicers; and


 


(iii)          any other amounts so required to be deposited in the Distribution Account in the related Due Period pursuant to this Agreement.


 


(c)           In the event the Master Servicer or a Servicer has remitted in error to the Distribution Account any amount not required to be remitted in accordance with the definition of Available Distribution Amount, it may at any time direct the Securities Administrator to withdraw such amount from the Distribution Account for repayment to the Master Servicer or Servicer, as applicable, by delivery of an Officer’s Certificate to the Securities Administrator and the Trustee which describes the amount deposited in error.


 


(d)           On each Distribution Date and the final Distribution Date of the Certificates in accordance with Section 7.01, the Securities Administrator, as Paying Agent, shall distribute the Available Distribution Amount to the Certificateholders and any other parties entitled thereto in the amounts and 


 




  





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priorities set forth in Section 5.02.  The Securities Administrator may, with the consent of the Depositor,  from time to time withdraw from the Distribution Account and pay to itself, the Master Servicer, the Trustee, the Custodian or the Servicers any amounts permitted to be paid or reimbursed to such Person from funds in the Distribution Account pursuant to clauses (A) and (B) of the definition of Available Distribution Amount.


 


(e)          Funds in the Distribution Account for the period from each Servicer Remittance Date to the related Distribution Date shall, if invested, be invested in Eligible Investments selected by the Securities Administrator, which shall mature not later than the Distribution Date and any such Eligible Investment shall not be sold or disposed of prior to its maturity.  All such Eligible Investments shall be made in the name of the Trustee in trust for the benefit of the Trustee and Holders of the Sequoia Mortgage Trust 2011-1 Certificates.  All income and gain realized from any Eligible Investment in the Distribution Account shall be
compensation to the Securities Administrator.  The Securities Administrator shall deposit the amount of any losses incurred in respect of any such investments out of its own funds, without any right of reimbursement therefor, immediately as realized.


 


Section 4.02                             Reports to Trustee and Certificateholders. 


 


On each Distribution Date, the Securities Administrator shall have prepared and shall make available to the Trustee and each Certificateholder a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Master Servicer and the Servicers) (the “Distribution Date Statement”):


 


(a)           the amount of the distributions, separately identified, with respect to each Class of Certificates;


 


(b)           the amount of the distributions set forth in clause (a) allocable to principal, separately identifying the aggregate amount of any Principal Prepayments or other unscheduled recoveries of principal included in that amount;


 


(c)           the amount of the distributions set forth in clause (a) allocable to interest;


 


(d)           the amount of any unpaid Interest Shortfall, Net Prepayment Interest Shortfalls and Relief Act Shortfalls with respect to each Class of Certificates;


 


(e)           the Class Principal Amount of each Class of Certificates (other than the Interest-Only Certificates) and the Class Notional Amount of the Interest-Only Certificates, in each case after giving effect to the distribution of principal on that Distribution Date;


 


(f)           the Aggregate Stated Principal Balance of the Mortgage Loans, the Mortgage Rates (in incremental ranges) and the weighted average remaining term of the Mortgage Loans, at the beginning and at the end of the related Prepayment Period;


 


(g)           the aggregate Substitution Amount and the aggregate Purchase Price deposited into the Distribution Account with respect to the Mortgage Loans and, to the extent set forth in a written notice from the Depositor, the purchase price deposited into the Distribution Account with respect to each Mortgage Loan purchased by the Controlling Holder pursuant to Section 2.07, which information may be presented in a footnote;


 


(h)           the Senior Percentage and the Subordinate Percentage for the following Distribution Date;


 




  





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(i)           the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for the following Distribution Date;


 


(j)           the amount of the Master Servicing Fee and the Servicing Fee paid to or retained by the Master Servicer and by each Servicer, respectively, and the amount of any fees paid to the Securities Administrator, the Custodian and the Trustee;


 


(k)           the aggregate amount of Advances for the related Due Period;


 


(l)           the number and Stated Principal Balance of the Mortgage Loans that were (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) in foreclosure and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding that Distribution Date;


 


(m)         the amount of cash flow received for such Distribution Date, and the sources thereof;


 


(n)           for any Mortgage Loan as to which the related Mortgaged Property was an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan as of the close of business on the last day of the related Due Period;


 


(o)            the aggregate number and principal balance of any REO Properties as of the close of business on the last day of the preceding Due Period;


 


(p)           the amount of Realized Losses incurred during the preceding calendar month;


 


(q)          the cumulative amount of Realized Losses incurred since the Closing Date;


 


(r)          the Realized Losses, if any, allocated to each Class of Certificates on that Distribution Date;


 


(s)          the Certificate Interest Rate for each Class of Certificates for that Distribution Date;


 


(t)           any Servicing Modifications with respect to any Mortgage Loan during the related Due Period;


 


(u)          the applicable Record Date, Accrual Period and calculation date for each Class of Certificates and such Distribution Date;


 


(v)          the amount on deposit in the Distribution Account as of such Distribution Date (after giving effect to distributions on such date) and as of the prior Distribution Date;







(w)           the nature of any material breach of a representation and warranty relating to the characteristics of the Mortgage Loans or any transaction covenants;







(x)            the amount of Advances and Servicing Advances reimbursed during the related Due Period;







(y)           the amount of any Subsequent Recoveries;







(z)           the amount of any fees, charges and costs paid or reimbursed to the Master Servicer and the Custodian from the Distribution Account pursuant to this Agreement or the Custodial Agreement;


 




  





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(aa)           the amounts of any Master Servicer Compensating Interest Payments and Servicer Compensating Interest Payments for such Distribution Date; and







(bb)           whether the Step-Down Test has been satisfied for such Distribution Date.


 


On each Distribution Date, the Securities Administrator shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Offered Certificates as of such Distribution Date, using a format and media mutually acceptable to the Securities Administrator and Bloomberg.


 


In addition to the information listed above, such Distribution Date Statement shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§229.1121) of Regulation AB.


 


The Securities Administrator shall make such reports, any Form 10-K's and Form 10-D's relating to the Certificates filed under the Exchange Act and such other loan level information as the Depositor and the Securities Administrator shall agree available each month via the Securities Administrator’s website at http://www.ctslink.com.  Assistance in using the website may be obtained by calling the Securities Administrator’s customer service desk at 1-866-846-4526.  Certificateholders and other parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by contacting the Securities Administrator and indicating such.  In
preparing or furnishing the foregoing information to the Certificateholders, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Properties that has been provided to the Securities Administrator by the Master Servicer and the Servicers, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data.


 


Upon request, within a reasonable period of time after the end of each calendar year, the Securities Administrator shall cause to be furnished to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information listed above aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder.  Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time in effect.


 


Upon the reasonable advance written request of any Certificateholder that is a savings and loan, bank or insurance company (which request, if received by the Trustee or the Certificate Registrar, shall be promptly forwarded to the Securities Administrator), the Securities Administrator shall provide, or cause to be provided (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to such Certificateholders such reports and access to information and documentation regarding the Mortgage Loans as such Certificateholders may
reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that (i) such Certificateholders shall pay in advance for the Securities Administrator’s actual expenses incurred in providing such reports and access and such expenses shall not be paid by the Trust Fund and (ii) the Securities Administrator shall provide such information and documentation only to the extent that the Securities Administrator would not be in violation of any applicable privacy laws.


 




  





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ARTICLE V







DISTRIBUTIONS TO HOLDERS OF CERTIFICATES


 


Section 5.01                             Distributions Generally. 


 


(a)           Subject to Section 7.01 respecting the final distribution on the Certificates, on each Distribution Date the Paying Agent on behalf of the Trustee shall make distributions to holders of Certificates as of the related Record Date in accordance with this Article V.  Such distributions shall be made by check mailed to each Certificateholder’s address as it appears on the Certificate Register of the Certificate Registrar or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least
$1,000,000, or in the case of the Class A-IO Certificates or any Residual Certificate, a Percentage Interest of not less than 100%, by wire transfer in immediately available funds to an account specified in the request and at the expense of such Certificateholder; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Certificate Registrar’s Corporate Trust Office; provided, further, that the foregoing provisions shall not apply to any Class of Certificates as long as such Certificate remains a Book-Entry Certificate in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Wire transfers will be made at
the expense of the Holder requesting such wire transfer by deducting a wire transfer fee from the related distribution.  Notwithstanding such final payment of principal of any of the Certificates, each Certificate will remain outstanding until the termination of each REMIC and the payment in full of all other amounts due with respect to the Certificates and at such time such final payment in retirement of any Certificate will be made only upon presentation and surrender of such Certificate at the Certificate Registrar’s Corporate Trust Office.  If any payment required to be made on the Certificates is to be made on a day that is not a Business Day, then such payment will be made on the next succeeding Business Day.


 


(b)           All distributions or allocations made with respect to the Certificateholders within each Class on each Distribution Date shall be allocated among the outstanding Certificates in such Class equally in proportion to their respective initial Class Principal Amounts or initial Class Notional Amounts (or Percentage Interests).







Section 5.02                             Distributions From the Distribution Account.


 


(a)           Subject to Sections 5.02(b) and (c), on each Distribution Date, the Available Distribution Amount, to the extent received by the Securities Administrator, shall be withdrawn by the Paying Agent from funds in the Distribution Account and allocated among the Classes of Senior Certificates and Subordinate Certificates in the following order of priority:


 


(i)           to the payment of the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls on the Class A-1 Certificates, and then to the Class A-IO Certificates, the Interest Distribution Amount for such Class on such date and any accrued but unpaid Interest Shortfalls for such date and Class;


 


(ii)           to the Class A-1 Certificates, the Senior Principal Distribution Amount, until its Class Principal Amount has been reduced to zero;


  


(iii)          to the Class B-1 Certificates, the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls, in each case, for such Class on such date;


 


(iv)           to the Class B-1 Certificates, such Class’ Subordinate Class Percentage of the aggregate Subordinate Principal Distribution Amount, until its Class Principal Amount has been reduced to zero;


 




  





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(v)           to the Class B-2 Certificates, the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls, in each case, for such Class on such date;


 


(vi)           to the Class B-2 Certificates, such Class’ Subordinate Class Percentage of the aggregate Subordinate Principal Distribution Amount, until its Class Principal Amount has been reduced to zero;


 


(vii)           to the Class B-3 Certificates, the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls, in each case, for such Class on such date;


 


(viii)           to the Class B-3 Certificates, such Class’ Subordinate Class Percentage of the aggregate Subordinate Principal Distribution Amount, until its Class Principal Amount has been reduced to zero;


 


(ix)           to the Class B-4 Certificates, the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls, in each case, for such Class on such date;


 


(x)           to the Class B-4 Certificates, such Class’ Subordinate Class Percentage of the aggregate Subordinate Principal Distribution Amount, until its Class Principal Amount has been reduced to zero;







(xi)           to the Class B-5 Certificates, the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls, in each case, for such Class on such date;


 


(xii)           to the Class B-5 Certificates, such Class’ Subordinate Class Percentage of the aggregate Subordinate Principal Distribution Amount, until its Class Principal Amount has been reduced to zero; and


 


(xiii)          To the Class LT-R Certificates and the Class R Certificates, any remaining amount of the Available Distribution Amount allocated as provided in Section 5.02(d).


  


(b)           On each Distribution Date on and after the Credit Support Depletion Date, the Available Distribution Amount shall be distributed to the remaining Senior Certificates, first, to pay the Interest Distribution Amount and any accrued but unpaid Interest Shortfalls on a pro rata basis in accordance with any such amounts due, and second, to pay principal to the Class A-1 Certificates.


 


(c)           Notwithstanding the priority and allocation set forth in Section 5.02(a), if with respect to any Class of Subordinate Certificates other than the Class B-1 Certificates on any Distribution Date the sum of the Class Subordination Percentages of such Class and of all other Classes of Subordinate Certificates which have a higher numerical Class designation than such Class is less than the Original Applicable Credit Support Percentage for such Class, no distribution of principal shall be made to any such Classes.  The Subordinate Principal Distribution Amount shall be allocated among the Classes of Subordinate Certificates having lower
numerical Class designations than such Class, pro rata, based on the Class Principal Amounts of the respective Classes immediately prior to such Distribution Date and shall be distributed in the sequential order provided in Section 5.02(a) above.


 


(d)           Amounts distributed to the Residual Certificates pursuant to Section 5.02(a)(xiii) on any Distribution Date shall be allocated among the REMIC residual interests represented thereby such that each such interest is allocated the excess of funds available to the related REMIC over required distributions to the regular interests in such REMIC on such Distribution Date; provided, however, that the Class LT-R Certificate shall be entitled to any amounts representing net gain resulting from the sale of any REO Properties or other Liquidation Proceeds due to the Residual Certificates with respect to
the Mortgage Loans.


 




  





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(e)           For purposes of distributions of interest in Section 5.02(a) such distributions to a Class of Certificates on any Distribution Date shall be made first, in respect of Current Interest; and second, in respect of Interest Shortfalls.







(f)           Amounts distributed to the Certificates (other than the Class LT-R Certificate) pursuant to this Section shall be deemed to have first been distributed from the Lower Tier REMIC to the Upper Tier REMIC in respect of the Lower Tier REMIC regular interests in accord with the distribution provisions for the Lower Tier REMIC set forth in the Preliminary Statement.







Section 5.03                             Allocation of Losses.


 


(a)           On or prior to each Distribution Date, the Master Servicer shall calculate the aggregate Realized Losses for such Distribution Date based on the information with respect to losses as reported to it by each Servicer.


 


(b)           On each Distribution Date, the Securities Administrator shall allocate the principal portion of Realized Losses as follows:


 


first, to the Classes of Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class B-5 Certificates and ending with the Class B-1 Certificates) until the Class Principal Amount of each such Class is reduced to zero; and


 


second, to the Class A-1 Certificates, until the Class Principal Amount of the Class A-1 Certificates is reduced to zero.


 


(c)           On each Distribution Date, the Class Principal Amount of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the Certificate Writedown Amount and if no Subordinate Certificates are then outstanding the Class Principal Amount of the Class A-1 Certificates shall be reduced by the Certificate Writedown Amount.


 


(d)           Any allocation of a loss pursuant to this section to a Class of Certificates shall be achieved by reducing the Class Principal Amount thereof by the amount of such loss.


 


(e)           Subsequent Recoveries in respect of the Mortgage Loans shall be distributed to the Certificates still outstanding, in accordance with Section 5.02, and the Class Principal Amount of each Class of Certificates then outstanding that has been reduced due to application of a Realized Loss will be increased, in order of seniority, by the amount of such Subsequent Recovery.







(f)           Realized Losses and the amount of any Certificate Writedown Amount allocated by this Section to a Class of Certificates shall be allocated to the corresponding Lower Tier REMIC Interest and shall reduce the Class Principal Amount of such Lower Tier REMIC Interest to the same extent that the Class Principal Amount of such Class of Certificates is reduced pursuant to the provisions of this Section.  Subsequent Recoveries distributed to a Class of Certificates pursuant to the provisions of subsection 5.03(e) shall be deemed to have been distributed to the corresponding  Lower Tier REMIC Interest.  To the extent that the
Class Principal Amount of any Class of Certificates has been increased on account of Subsequent Recoveries pursuant to the provisions of subsection 5.03(e), the principal balance of the corresponding Lower Tier REMIC Interest shall be increased by the same amount.







(g)           Any Class of Certificates whose Class Principal Amount has been reduced to zero due to the allocation of Realized Losses will nonetheless remain outstanding under this Agreement and will continue to be entitled to receive Subsequent Recoveries until the termination of the Trust Fund; provided, however, that any such Class of Certificates will not have any voting rights with respect to matters under this Agreement requiring or permitting actions to be taken by any Certificateholders.


 




  





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Section 5.04                             Servicer Obligations.







In the event of any inconsistency between this Agreement and a Servicing Agreement with respect to obligations of a Servicer, the provisions of the applicable Servicing Agreement shall govern such obligations.







Section 5.05                             Advances by Master Servicer.







If any Servicer fails to remit any Advance required to be made under the applicable Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor Servicer to make, such Advance. If the Master Servicer determines that an Advance is required, it shall on the Business Day preceding the related Distribution Date immediately following such Determination Date remit to the Securities Administrator from its own funds (or funds advanced by the applicable Servicer) for deposit in the Distribution Account immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed for all Advances made by it. Notwithstanding anything to the
contrary herein, in the event the Master Servicer determines in its reasonable judgment that an Advance is nonrecoverable, the Master Servicer shall be under no obligation to make such Advance. If the Master Servicer determines that an Advance is nonrecoverable, it shall, on or prior to the related Distribution Date, deliver an Officer’s Certificate to the Trustee to such effect.







Section 5.06                             Master Servicer Compensating Interest Payments.







The amount of the aggregate Master Servicing Fees payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.












ARTICLE VI







CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR; EVENTS OF DEFAULT


 


Section 6.01                             Duties of Trustee and the Securities Administrator. 


 


(a)           The Trustee, except during the continuance of an Event of Default, and the Securities Administrator each undertake to perform their respective duties and only such duties as are specifically set forth in this Agreement.  Any permissive right of the Trustee and the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator, as the case may be. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their
exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs.


 


(b)           Each of the Trustee and the Securities Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee or the Securities Administrator, as applicable, which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they are in the form required by this Agreement; provided, however, that neither the Trustee nor the Securities Administrator shall be responsible for the accuracy or content of any such resolution, certificate, statement,
opinion, report, document, order or other instrument furnished to the Trustee or the Securities Administrator pursuant to this Agreement and shall not be required to recalculate or verify any numerical information furnished to the Trustee or the Securities Administrator pursuant this Agreement.  Subject to the immediately preceding sentence, if any such resolution, certificate, statement, opinion, report, document, order or other instrument


 




  





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is found not to conform to the form required by this Agreement in a material manner the Trustee or the Securities Administrator, as applicable, shall take such action as it deems appropriate to cause the instrument to be corrected, and if the instrument is not corrected to the Trustee’s or the Securities Administrator’s satisfaction, the Trustee or the Securities Administrator, as applicable, will provide notice thereof to the Certificateholders and take such further action as directed by the Certificateholders pursuant to Sections 6.02(d) and 6.02(f).


 


(c)           None of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar shall have any liability arising out of or in connection with this Agreement, except for its negligence or willful misconduct.   No provision of this Agreement shall be construed to relieve the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:


 


(i)          The Trustee shall not be personally liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of Holders of Certificates as provided in Section 6.18 hereof;


 


(ii)          For all purposes under this Agreement, the Trustee shall not be deemed to have notice of any Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Holders of the Certificates and this Agreement;







(iii)           For all purposes under this Agreement, except when the Master Servicer is the Securities Administrator, the Securities Administrator shall not be deemed to have notice of any Event of Default (other than resulting from a failure by the Master Servicer to furnish information to the Securities Administrator or payment on a Distribution Date when required to do so) unless a Responsible Officer of the Securities Administrator has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Securities Administrator at the at the address provided in Section 11.07, and such notice references the
Holders of the Certificates and this Agreement;


 


(iv)          No provision of this Agreement shall require the Trustee or the Securities Administrator (regardless of the capacity in which it is acting) to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it; and none of the provisions contained in this Agreement shall in any event require the Trustee or the Securities Administrator to perform, or be responsible for the manner of
performance of, any of the obligations of the Depositor, the Master Servicer or any other Person under this Agreement, the Servicing Agreements or the Custodial Agreement; and


 


(v)           None of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar shall be responsible for any act or omission of the Master Servicer (other than, in the case of the Securities Administrator, as provided in the next sentence), the Depositor, the Seller, the Servicers, the Custodian or the Controlling Holder.  If the Master Servicer is the Securities Administrator, the Securities Administrator shall be responsible for any act or omission of the Master Servicer.


 


(d)           The Trustee shall have no duty hereunder with respect to any complaint, claim, demand, notice or other document it may receive or which may be alleged to have been delivered to or served upon it by the parties as a consequence of the assignment of any Mortgage Loan hereunder; provided, however, that the Trustee shall promptly remit to the applicable Servicer (with a copy to the Master Servicer) upon receipt any such complaint, claim, demand, notice or other document (i) which is delivered to the Corporate Trust Office of the Trustee, (ii) of which a Responsible Officer has actual knowledge,
and (iii) which contains information sufficient to permit the Trustee to make a determination that the real property to which such document relates is a Mortgaged Property.


 




  





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(e)           None of the Trustee, the Securities Administrator or the Master Servicer shall be personally liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Certificateholders of any Class holding Certificates which evidence, as to such Class, Percentage Interests aggregating not less than 25% as to the time, method and place of conducting any proceeding for any remedy available to the Trustee, the Securities Administrator or the Master Servicer or exercising any trust or power conferred upon the Trustee, the Securities Administrator or the Master Servicer under this
Agreement.


 


(f)           Neither the Trustee nor the Securities Administrator shall be required to perform services under this Agreement, or to expend or risk its own funds or otherwise incur financial liability for the performance of any of its duties hereunder or the exercise of any of its rights or powers if there is reasonable ground for believing that the timely payment of its fees and expenses or the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it, and none of the provisions contained in this Agreement shall in any event require the Trustee or the Securities Administrator to perform, or be responsible for
the manner of performance of, any of the obligations of the Master Servicer or any Servicer under this Agreement or any Servicing Agreement except, with respect to the Master Servicer, during such time, if any, as the Trustee shall be the successor to, and be vested with the rights, duties, powers and privileges of, the Master Servicer in accordance with the terms of this Agreement.


 


(g)           Except as otherwise provided herein, neither the Trustee nor the Securities Administrator shall have any duty (A) to see to any recording, filing, or depositing of this Agreement or any agreement referred to herein or any financing statement or continuation statement evidencing a security interest, or to see to the maintenance of any such recording or filing or depositing or to any rerecording, refiling or redepositing of any thereof, (B) to see to any insurance, (C) to see to the payment or discharge of any tax, assessment, or other governmental charge or any lien or encumbrance of any kind owing with respect to, assessed or levied against, any
part of the Trust Fund other than from funds available in the Distribution Account, or (D) to confirm or verify the contents of any reports or certificates of the Master Servicer or any Servicer delivered to the Trustee or the Securities Administrator pursuant to this Agreement or any Servicing Agreement believed by the Trustee or the Securities Administrator, as applicable, to be genuine and to have been signed or presented by the proper party or parties.


 


(h)          None of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar shall be liable in its individual capacity for an error of judgment made in good faith by a Responsible Officer or other officers of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar, as applicable, unless it shall be proved that the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar, as applicable, was negligent in ascertaining the pertinent facts.


 


(i)           Notwithstanding anything in this Agreement to the contrary, none of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar shall be liable for special, indirect or consequential losses or damages of any kind whatsoever (including, but not limited to, lost profits), even if the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar, as applicable, has been advised of the likelihood of such loss or damage and regardless of the form of action.







(j)           Neither the Trustee nor the Securities Administrator (regardless of the capacity in which it is acting) shall be responsible for the acts or omissions of the other, it being understood that this Agreement shall not be construed to render them agents of one another.







(k)           The duties and obligations of the Trustee, the Securities Administrator, the Paying Agent and the Certificate Registrar shall be determined solely by the express provisions of this Agreement, none of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar shall be liable except for the performance of its duties and obligations as are specifically set forth in this Agreement, no 


 




  





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implied covenants or obligations shall be read into this Agreement against the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar and, in the absence of bad faith on the part of the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar, the Trustee, the Securities Administrator, the Paying Agent or the Certificate Registrar, as applicable, may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to such party that conform to the requirements of this Agreement.


  


Section 6.02                             Certain Matters Affecting the Trustee and the Securities Administrator. 


 


Except as otherwise provided in Section 6.01:


 


(a)           Before taking or refraining from taking any actions hereunder, each of the Trustee and the Securities Administrator may request, and may rely and shall be protected in acting or refraining from acting upon, any resolution, Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;


 


(b)           Each of the Trustee and the Securities Administrator may consult with counsel and any advice of its counsel or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel;


 


(c)           Neither the Trustee nor the Securities Administrator shall be personally liable for any action taken, suffered or omitted by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;


 


(d)           Unless an Event of Default shall have occurred and be continuing, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document (provided the same appears regular on its face), unless requested in writing to do so by the Holders of at least a majority in Class Principal Amount (or Percentage Interest) of each Class of Certificates or such other percentage specified in Section 2.05 with respect to actions described in Section 2.05; provided, however, that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Agreement, the Trustee may require reasonable indemnity against such expense or liability or payment of such estimated expenses from the Certificateholders as a condition to proceeding.  Except as otherwise provided in Section 2.05, the reasonable expense thereof shall be paid by the party requesting such investigation and shall not be paid by the Trust Fund; and, provided further, that in the case of an alleged breach of an Originator's representations and warranties, the provisions of Section 2.05 must be satisfied.


 


(e)           Each of the Trustee and the Securities Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, custodians or attorneys, which agents, custodians or attorneys shall have any and all of the rights, powers, duties and obligations of the Trustee and the Securities Administrator conferred on them by such appointment; provided that each of the Trustee and the Securities Administrator shall continue to be responsible for its duties and obligations hereunder to the extent provided herein; provided further that the Trustee shall not be responsible for the duties and obligations
of Wells Fargo Bank, N.A. in its capacity as any of the Custodian, the Paying Agent, the Authenticating Agent, the Securities Administrator or the Certificate Registrar under this Agreement or the Custodial Agreement, as applicable;


 


(f)           Neither the Trustee nor the Securities Administrator shall be under any obligation to exercise any of the trusts or powers vested in it by this Agreement, and the Trustee shall not be under any obligation to institute, conduct or defend any litigation hereunder or in relation hereto, in each case at the 


 




  





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request, order or direction of any of the Certificateholders pursuant to the provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee or the Securities Administrator, as applicable, security or indemnity reasonably satisfactory to the Trustee or the Securities Administrator against the costs, expenses and liabilities which may be incurred therein or thereby;


 


(g)          The right of the Trustee and the Securities Administrator to perform any discretionary act enumerated in this Agreement shall not be construed as a duty, and neither the Trustee nor the Securities Administrator shall be answerable for other than its negligence or willful misconduct in the performance of such act;


 


(h)  Neither the Trustee nor the Securities Administrator shall be required to give any bond or surety in respect of the execution of the Trust Fund created hereby or the powers granted hereunder; and


 


(i)           Neither the Trustee nor the Securities Administrator shall have any duty to conduct any affirmative investigation (including, but not limited to, reviewing any reports delivered to the Trustee in connection with the review of the Trustee Mortgage Files) as to the occurrence of any condition requiring the repurchase of any Mortgage Loan pursuant to this Agreement, the Mortgage Loan Purchase and Sale Agreement or the Servicing Agreements, as applicable, or the eligibility of any Mortgage Loan for purposes of this Agreement including, without limitation, whether any mortgage loan is a Qualified Substitute Mortgage Loan, except as set forth in Section
2.05 with respect to the Trustee.  In the event that the Trustee receives written direction from the requisite percentage of Certificateholders in accordance with Section 2.05 to make such investigation, then the Trustee shall direct the Master Servicer to engage a third party or Wells Fargo Bank, N.A. to perform such investigation and report its findings, the expense of which shall be included in the costs and expenses for which the Master Servicer is entitled to be reimbursed in accordance with Section 2.05.


 


In the event either the Trustee or the Securities Administrator deems the nature of any action required on its part to be unclear, the Trustee or the Securities Administrator, as applicable, may require prior to such action that it be provided by the Depositor with reasonable further written instructions.


 


Section 6.03                             Trustee and Securities Administrator Not Liable for Certificates.


 


The Trustee and the Securities Administrator make no representations as to the validity or sufficiency of this Agreement, the Custodial Agreement, the Servicing Agreements, the Mortgage Loan Purchase and Sale Agreement or the Certificates (other than the certificate of authentication on the Certificates) or of any Mortgage Loan or related document, save that the Trustee and the Securities Administrator represent that, assuming due execution and delivery by the other parties hereto, this Agreement has been duly authorized, executed and delivered by it and constitutes its valid and binding obligation, enforceable against it in accordance with its terms except that such enforceability may be subject to (A) applicable
bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally, and (B) general principles of equity regardless of whether such enforcement is considered in a proceeding in equity or at law.   The recitals contained herein and in the Certificates (other than the signature of the Trustee on the Certificates and the acknowledgements of the Trustee contained in Article II) shall not be taken as the statements of the Trustee and the Trustee does not assume any responsibility for their correctness.  Neither the Trustee nor the Securities Administrator shall be accountable for the use or application by the Depositor of any of the Certificates or of the proceeds of such Certificates, or of funds paid to the Depositor in consideration of the sale of the Mortgage Loans to the Trustee by the Depositor or for the use or
application of any funds deposited into the Distribution Account or any other fund or account maintained with respect to the Certificates.  Neither the Trustee nor the Securities Administrator shall be responsible for the legality or validity of this Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates issued or intended to be issued hereunder.  Neither the Trustee nor the Securities Administrator shall have any responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to record this Agreement.


 




  





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Section 6.04                             Trustee and Securities Administrator May Own Certificates. 


 


Each of the Trustee and the Securities Administrator (and any Affiliate or agent of either of them) in its individual or any other capacity may become the owner or pledgee of Certificates and may transact banking and trust business with the other parties hereto and their Affiliates with the same rights it would have if it were not Trustee, Securities Administrator or such Affiliate or agent, as applicable.


 


Section 6.05                             Eligibility Requirements for Trustee and Securities Administrator. 


 


The Trustee hereunder shall at all times (i) be an institution insured by the FDIC, (ii) be a corporation or national banking association, organized and doing business under the laws of any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state authority and (iii) not be an Affiliate of the Master Servicer or any Servicer.  If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the
purposes of this Section, the combined capital and surplus of such corporation or national banking association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  In case at any time the Trustee shall cease to be eligible in accordance with provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.06.







The Securities Administrator hereunder shall at all times (i) be an institution authorized to exercise corporate trust powers under the laws of its jurisdiction of organization, (ii) be rated at least “A/F1” by Fitch, or if not rated by Fitch, the equivalent rating by Moody’s or S&P, and (iii) not be the originator of any of the Mortgage Loans, a Servicer, the Depositor or an Affiliate of the Depositor.


     


Section 6.06                             Resignation and Removal of Trustee and the Securities Administrator. 


 


(a)           Each of the Trustee and the Securities Administrator may at any time resign and be discharged from the trust hereby created by giving 60 days’ written notice thereof to the Trustee or the Securities Administrator, as applicable, the Depositor and the Master Servicer.  Upon receiving such notice of resignation, the Depositor will promptly appoint a successor trustee or a successor securities administrator, as applicable, by written instrument, one copy of which instrument shall be delivered to the resigning Trustee or resigning Securities Administrator, as applicable, one copy to the successor trustee or successor securities
administrator, as applicable, and one copy to the Master Servicer.  If no successor trustee or successor securities administrator shall have been so appointed and shall have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee or resigning Securities Administrator, as applicable, may petition any court of competent jurisdiction for the appointment of a successor trustee or successor securities administrator, as applicable.  In the case of any such resignation by the Securities Administrator, if no successor securities administrator shall have been appointed and shall have accepted appointment within 60 days after the Securities Administrator ceases to be the Securities Administrator pursuant to this Section 6.06, then the Trustee shall perform the duties of the Securities Administrator pursuant to this
Agreement and shall be entitled to the fees of the Securities Administrator for so long as the Trustee performs such duties; provided, however, that the Trustee may engage a qualified entity to perform the duties of the Securities Administrator under Sections 6.21, 6.22, 6.23, 6.24 and 11.16 of this Agreement.  The successor trustee shall notify the Rating Agency, the Servicers and the Master Servicer of any change of Trustee and the successor securities administrator shall notify the Rating Agency, the Servicers and the Master Servicer of any change of Securities Administrator.







(b)           If at any time any of the following events shall occur: (i) the Trustee or the Securities Administrator ceases to be eligible in accordance with the provisions of Section 6.05 and fails to resign after written request therefor by the Depositor, (ii) the Securities Administrator fails to perform its obligations pursuant to Section 5.02 to make distributions to Certificateholders, which failure continues 


 




  





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unremedied for a period of one Business Day after the date upon which written notice of such failure shall have been given to the Securities Administrator by the Trustee or the Depositor, (iii) the Securities Administrator fails to provide a Back-up Certificate, Assessment of Compliance or an Accountant’s Attestation required under Sections 6.20, 6.21 and 6.22, respectively, by March 15 of each year in which Exchange Act reports are required, (iv) the Trustee or the Securities Administrator becomes incapable of acting, or is adjudged a bankrupt or insolvent, or a receiver of the Trustee or the Securities Administrator of its property is appointed, or any public officer takes charge or control of the
Trustee or the Securities Administrator or of the property or affairs of either for the purpose of rehabilitation, conservation or liquidation, (v) a tax is imposed or threatened with respect to the Trust Fund by any state in which the Trustee or the Trust Fund held by the Trustee is located, or (vi) the continued use of the Trustee or the Securities Administrator would result in a downgrading of the rating by the Rating Agency of any Class of Certificates with a rating; then, in each such case, the Depositor shall remove the Trustee or the Securities Administrator, as applicable, and the Depositor shall appoint a successor trustee or successor securities administrator, as applicable, by written instrument, one copy of which instrument shall be delivered to the Trustee or Securities Administrator so removed, one copy to the successor trustee or successor securities administrator, as
applicable, and one copy to the Master Servicer.  If the same Person is acting as both the Securities Administrator and the Master Servicer, then the Depositor shall direct the Trustee to remove the Master Servicer in accordance with the provisions of Section 6.14, and the Trustee promptly upon such direction shall remove the Master Servicer in accordance therewith.


 


(c)           The Holders of more than 50% of the Class Principal Amount (or Percentage Interest) of each Class of Certificates may at any time upon 30 days’ written notice to the Trustee or the Securities Administrator, as applicable, and to the Depositor remove the Trustee or the Securities Administrator, as applicable, by such written instrument, signed by such Holders or their attorney-in-fact duly authorized, one copy of which instrument shall be delivered to the Depositor, one copy to the Trustee or Securities Administrator, as applicable, and one copy to the Master Servicer.  The Depositor shall thereupon appoint a successor trustee or
successor securities administrator, as applicable, in accordance with this Section.


 


(d)           Any resignation or removal of the Trustee or the Securities Administrator, as applicable, and appointment of a successor trustee or successor securities administrator pursuant to any of the provisions of this Section shall only become effective upon acceptance of appointment by the successor trustee or the successor securities administrator, as applicable, as provided in Section 6.07.


 


Section 6.07                             Successor Trustee and Successor Securities Administrator. 


 


(a)           Any successor trustee or successor securities administrator appointed as provided in Section 6.06 shall execute, acknowledge and deliver to the Depositor and to its predecessor trustee or predecessor securities administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or predecessor securities administrator, as applicable, shall become effective and such successor trustee or successor securities administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its
predecessor hereunder, with like effect as if originally named as trustee or securities administrator, as applicable, herein.  The predecessor trustee shall deliver to the successor trustee (or assign to the Trustee its interest under the Custodial Agreement, to the extent permitted thereunder), all Trustee Mortgage Files and documents and statements related to each Trustee Mortgage File held by it hereunder, the predecessor trustee shall duly assign, transfer, deliver and pay over to the successor trustee the entire Trust Fund, together with all necessary instruments of transfer and assignment or other documents properly executed necessary to effect such transfer and the predecessor trustee or the predecessor securities administrator, as applicable, shall deliver such of the records or copies thereof maintained by the predecessor trustee or predecessor securities
administrator, as applicable, in the administration hereof as may be requested by the successor trustee and shall thereupon be discharged from all duties and responsibilities under this Agreement.  In addition, the Depositor and the predecessor trustee or predecessor securities administrator, as applicable, shall execute and deliver such other instruments and do such other things as may reasonably be required to more fully and certainly vest and confirm in the successor trustee or successor securities administrator, as applicable, all such rights, powers, duties and 


 




  





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obligations.  The predecessor securities administrator shall also deliver to the Depositor the Back-up Certificate with respect to the portion of the calendar year in which the predecessor securities administrator acted as Securities Administrator hereunder.


 


(b)           No successor trustee or successor securities administrator shall accept appointment as provided in this Section unless at the time of such appointment such successor trustee or successor securities administrator, as applicable, shall be eligible under the provisions of Section 6.05.


 


(c)           Upon acceptance of appointment by a successor trustee or successor securities administrator, as applicable, as provided in this Section 6.07, the predecessor trustee or predecessor securities administrator, as applicable, shall mail notice of the succession of such trustee or securities administrator, as applicable, hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register and to the Rating Agency.  The expenses of such mailing shall be borne by the Master Servicer.


 


Section 6.08                             Merger or Consolidation of Trustee or Securities Administrator. 


 


Any Person into which the Trustee or Securities Administrator may be merged or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee or Securities Administrator shall be a party, or any Persons succeeding to the business of the Trustee or Securities Administrator, shall be the successor to the Trustee or Securities Administrator hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, provided that such Person shall be eligible under the applicable provisions of Section 6.05.


 


Section 6.09                             Appointment of Co-Trustee, Separate Trustee or Custodian. 







(a)           Notwithstanding any other provisions hereof, at any time, the Trustee, the Depositor or the Certificateholders evidencing more than 50% of the Class Principal Amount (or Percentage Interest) of every Class of Certificates shall have the power from time to time to appoint one or more Persons, approved by the Trustee, to act either as co-trustees jointly with the Trustee, or as separate trustees, or as custodians, for the purpose of holding title to, foreclosing or otherwise taking action with respect to any Mortgage Loan outside the state where the Trustee has its principal place of
business where such separate trustee or co-trustee is necessary or advisable (or the Trustee has been advised by the Master Servicer that such separate trustee or co-trustee is necessary or advisable) under the laws of any state in which a property securing a Mortgage Loan is located or for the purpose of otherwise conforming to any legal requirement, restriction or condition in any state in which a property securing a Mortgage Loan is located or in any state in which any portion of the Trust Fund is located.  The separate trustees, co-trustees, or custodians so appointed shall be trustees or custodians for the benefit of all the Certificateholders and shall have such powers, rights and remedies as shall be specified in the instrument of appointment; provided, however, that no such appointment shall, or shall be deemed
to, constitute the appointee an agent of the Trustee.  The obligation of the Master Servicer to make Advances pursuant to Section 5.05 hereof shall not be affected or assigned by the appointment of a co-trustee.


 


(b)           Every separate trustee, co-trustee, and custodian shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions:


 


(i)           all powers, duties, obligations and rights conferred upon the Trustee in respect of the receipt, custody and payment of moneys shall be exercised solely by the Trustee;


 


(ii)           all other rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate trustee, co-trustee, or custodian jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such


 




  





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 act or acts, in which event such rights, powers, duties and obligations, including the holding of title to the Trust Fund or any portion thereof in any such jurisdiction, shall be exercised and performed by such separate trustee, co-trustee, or custodian;


 


(iii)           no trustee or custodian hereunder shall be personally liable by reason of any act or omission of any other trustee or custodian hereunder; and


 


(iv)           the Trustee may at any time, by an instrument in writing executed by it, with the concurrence of the Depositor, accept the resignation of or remove any separate trustee, co-trustee or custodian, so appointed by it or them, if such resignation or removal does not violate the other terms of this Agreement.


 


(c)           Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them.  Every instrument appointing any separate trustee, co-trustee or custodian shall refer to this Agreement and the conditions of this Article VI.  Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Trustee.  Every such instrument shall be filed with the Trustee and a copy given to the Master Servicer.


 


(d)           Any separate trustee, co-trustee or custodian may, at any time, constitute the Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.  If any separate trustee, co-trustee or custodian shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.


 


(e)           No separate trustee, co-trustee or custodian hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 6.05 hereunder and no notice to the Certificateholders of the appointment shall be required under Section 6.07 hereof.


 


(f)           The Trustee agrees to instruct the co-trustees, if any, to the extent necessary to fulfill the Trustee’s obligations hereunder.


 


(g)           The Trust Fund shall pay the reasonable compensation of the co-trustees (which compensation shall not reduce any compensation payable to the Trustee).


 


Section 6.10                             Authenticating Agents. 


 


(a)           The Trustee may appoint one or more Authenticating Agents which shall be authorized to act on behalf of the Trustee in authenticating Certificates.  The Trustee hereby appoints the Securities Administrator as initial Authenticating Agent, and the Securities Administrator hereby accepts such appointment.  Wherever reference is made in this Agreement to the authentication of Certificates by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee
by an Authenticating Agent.  Each Authenticating Agent must be a national banking association or a corporation organized and doing business under the laws of the United States of America or of any state, having a combined capital and surplus of at least $15,000,000, authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authorities.


 




  





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(b)           Any Person into which any Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which any Authenticating Agent shall be a party, or any Person succeeding to the corporate agency business of any Authenticating Agent, shall continue to be the Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent.


 


(c)           Any Authenticating Agent may at any time resign by giving at least 30 days’ advance written notice of resignation to the Trustee and the Depositor.  The Trustee may at any time terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and the Depositor.  Upon receiving a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 6.10, the Trustee may appoint a successor authenticating agent, shall give written notice of such appointment to the
Depositor and shall mail notice of such appointment to all Holders of Certificates.  Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as Authenticating Agent.  No successor authenticating agent shall be appointed unless eligible under the provisions of this Section 6.10.  No Authenticating Agent shall have responsibility or liability for any action taken by it as such at the direction of the Trustee or in accordance with the provisions of this Agreement.


 


Section 6.11                             Indemnification of the Trustee, the Securities Administrator and the Master Servicer. 


 


Subject to the limitations described in clause (C) of  the definition of Available Distribution Amount, Citibank, N.A., both in its individual capacity and in its capacity as Trustee hereunder, and Wells Fargo Bank, N.A., both in its individual capacity and in its capacities as Securities Administrator, Certificate Registrar, Paying Agent, Authenticating Agent and Master Servicer hereunder, and each of their respective directors, officers, employees and agents shall be indemnified and held harmless by, and entitled to reimbursement from, the Trust Fund for any claim, loss, liability, damage, cost or expense, including without limitation any reasonable legal fees and expenses and any extraordinary or
unanticipated expense, incurred or expended (without negligence or willful misconduct on its or their part) in connection with, (a) investigating, preparing for, defending itself or themselves against, or prosecuting for itself or themselves or for the sake of the Trust Fund any legal proceeding, whether pending or threatened, that is related directly or indirectly in any way to the Trust Fund, this Agreement, the Servicing Agreements, the Mortgage Loan Purchase and Sale Agreement, the Custodial Agreement, the Mortgage Loans or other assets of the Trust Fund, or  the Certificates (including without limitation the initial offering, any secondary trading and any transfer and exchange of the Certificates), (b) the acceptance or administration of the trusts created hereunder, (c) the performance or exercise or the lack of performance or exercise of any or all of its or their
powers, duties, rights, responsibilities, or privileges hereunder, including without limitation (i) complying with any new or updated laws or regulations directly related to the performance by the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer as applicable, of its obligations under this Agreement and (ii) addressing any bankruptcy in any way related to or affecting this Agreement, the Servicing Agreements, the Custodial Agreement, the Mortgage Loan Purchase and Sale Agreement or any party to such agreements, including, as applicable, all costs incurred in connection with the use of default specialists within or outside Citibank, N.A. (in the case of Citibank, N.A. personnel, such costs to be calculated using standard market rates), in the case of the Trustee, or Wells Fargo Bank, N.A. (in the case
of Wells Fargo Bank, N.A. personnel, such costs to be calculated using standard market rates), in the case of the Securities Administrator.







In connection with any claim as to which indemnification is to be sought hereunder:







(i)           the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer as applicable, shall give the Depositor written notice thereof promptly after the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer as applicable, shall have knowledge thereof; provided that 


 




  





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failure of the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer, as applicable, to provide such written notice shall not relieve the Trust Fund of the obligation to indemnify the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer as applicable, under this Section 6.11;


 


(ii)           while maintaining control over its own defense, the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer as applicable, shall cooperate and consult fully with the Depositor in preparing such defense; and


 


(iii)           notwithstanding anything to the contrary in this Section 6.11, the Trust Fund shall not be liable for settlement of any such claim by the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer, as applicable, entered into without the prior consent of the Depositor, which consent shall not be unreasonably withheld.


 


The indemnification obligations set forth in this Section shall survive the discharge of this Agreement and the termination or resignation of the Trustee, the Securities Administrator, the Certificate Registrar, the Paying Agent, the Authenticating Agent or the Master Servicer, as applicable.







Section 6.12                             Fees and Expenses of the Securities Administrator, the Certificate Registrar, the Paying Agent, Authenticating Agent, the Trustee and the Custodian. 


 


(a)           Compensation for the services of the Securities Administrator, the Certificate Registrar, the Paying Agent and the Authenticating Agent hereunder shall be paid from the Master Servicing Fee. The Securities Administrator shall be entitled to all disbursements and advancements incurred or made by the Securities Administrator in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except any such expenses arising from its negligence, bad faith or willful misconduct. Wells Fargo Bank, N.A. shall act as Securities Administrator for so long as it is Master Servicer under this
Agreement.







(b)           As compensation for its services hereunder, the Trustee shall be entitled to receive a Trustee fee equal to $3,500 per annum, which shall be paid by the Master Servicer pursuant to a separate agreement between the Trustee and the Master Servicer.  Each successor master servicer and each successor trustee hereby agree to be bound by the terms of such agreement.  Any costs and expenses incurred by the Trustee shall be reimbursed in accordance with Section 6.11.







(c)           The Master Servicer shall pay, from the Master Servicing Fee, the fees and expenses of the Custodian as specified in the Custodial Agreement, and if the Custodial Agreement is terminated, the Master Servicer shall pay such fees and expenses of any successor custodian pursuant to a new custodial agreement to be entered into among the Depositor, the Seller, the Trustee, the successor custodian and the Master Servicer.







Section 6.13                             Collection of Monies. 


 


Except as otherwise expressly provided in this Agreement, the Trustee and the Securities Administrator may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by it pursuant to this Agreement.  The Trustee or the Securities Administrator, as applicable, shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement.


 


Section 6.14                             Events of Default; Trustee to Act; Appointment of Successor. 


 


(a)           The occurrence of any one or more of the following events shall constitute an “Event of Default”:


 




  





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(i)           Any failure by the Master Servicer to furnish the Securities Administrator the Mortgage Loan data sufficient to prepare the reports described in Section 4.02 which continues unremedied for a period of one Business Day after the date upon which written notice of such failure shall have been given to the Master Servicer by the Trustee or the Securities Administrator or to the Master Servicer, the Securities Administrator and the Trustee by the Holders of not less than 25% of the Class Principal Amount (or Class Notional Amount) of each Class of Certificates affected thereby;


 

 


               (ii)           Any failure on the part of the Master Servicer duly to observe or perform in any material respect any other of the covenants or agreements (other than those referred to in (vii) and (viii) below) on the part of the Master Servicer contained in this Agreement which continues unremedied for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Master Servicer by the Trustee or the Securities Administrator, or to the Master Servicer, the Securities Administrator
and the Trustee by the Holders of more than 50% of the Aggregate Voting Interests of the Certificates (or in the case of a breach of its obligation to provide an Item 1123 Certificate, an Assessment of Compliance or an Accountant’s Attestation pursuant to Sections 6.22, 6.23 and 6.24, immediately without a cure period);







(iii)           A decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer, and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days or the Rating Agency reduces or withdraws or threatens to reduce or withdraw the rating of the Certificates because of the financial condition
or loan servicing capability of such Master Servicer;







(iv)           The Master Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities, voluntary liquidation or similar proceedings of or relating to the Master Servicer or of or relating to all or substantially all of its property;







(v)           The Master Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations;







(vi)           The Master Servicer shall be dissolved, or shall dispose of all or substantially all of its assets, or consolidate with or merge into another entity or shall permit another entity to consolidate or merge into it, such that the resulting entity does not meet the criteria for a successor servicer as specified in Section 9.05 hereof;







(vii)           If a representation or warranty set forth in Section 9.03 hereof shall prove to be incorrect as of the time made in any respect that materially and adversely affects the interests of the Certificateholders, and the circumstance or condition in respect of which such representation or warranty was incorrect shall not have been eliminated or cured within 30 days after the date on which written notice of such incorrect representation or warranty shall have been given to the Master Servicer by the Trustee or the Securities Administrator, or to the Master Servicer, the Securities Administrator
and the Trustee by the Holders of more than 50% of the Aggregate Voting Interests of the Certificates;







(viii)           A sale or pledge of any of the rights of the Master Servicer hereunder or an assignment of this Agreement by the Master Servicer or a delegation of the rights or duties of the Master Servicer hereunder shall have occurred in any manner not otherwise permitted hereunder and without the prior written consent of the Trustee and Certificateholders holding more than 50% of the Aggregate Voting Interests of the Certificates;







(ix)           The purchase or holding of any Certificates by the Master Servicer or any master servicer transferee that is an insured depository institution (as such term is defined in the Federal Deposit Insurance Act) such that the Master Servicer or such master servicer transferee is required to consolidate any assets of the issuing entity on its financial statements under U.S. generally accepted accounting principles;


 




  





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(x)           Any failure of the Master Servicer to make any Advances when such Advances are due, which failure continues unremedied for a period of one Business Day.







If an Event of Default described in clauses (i) through (ix) of this Section shall occur, then, in each and every case, subject to applicable law, so long as any such Event of Default shall not have been remedied within any period of time as prescribed by this Section, the Trustee, by notice in writing to the Master Servicer may, and, if so directed in writing by Certificateholders evidencing either (i) more than 50% of the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, or (ii) 50% of the aggregate Class Principal Amount of the Subordinate
Certificates, or upon the occurrence of an Event of Default described in clause (x) of this Section, shall, terminate all of the rights and obligations of the Master Servicer hereunder and in and to the Mortgage Loans and the proceeds thereof; provided, however, that in the case of the preceding clause (ii), the Trustee shall provide written notice to all of the Certificateholders within two Business Days of receiving such direction and shall not terminate the Master Servicer if, within 30 days of sending such written notice, the Trustee has received contrary instructions from Certificateholders evidencing more than 50% of the Aggregate Voting Interests of the Certificateholders.  On or after the receipt by the Master Servicer of such written notice,
all authority and power of the Master Servicer, and only in its capacity as Master Servicer under this Agreement, whether with respect to the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee; and the Trustee is hereby authorized and empowered to execute and deliver, on behalf of the defaulting Master Servicer as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents or otherwise. The defaulting Master Servicer agrees to cooperate with the Trustee and the Securities Administrator in effecting the termination of the defaulting Master Servicer’s responsibilities and rights hereunder as Master Servicer
including, without limitation, notifying Servicers of the assignment of the master servicing function and providing the Trustee or its designee all documents and records in electronic or other form reasonably requested by it to enable the Trustee or its designee to assume the defaulting Master Servicer’s functions hereunder and the transfer to the Trustee for administration by it of all amounts which shall at the time be or should have been deposited by the defaulting Master Servicer in the Distribution Account and any other account or fund maintained with respect to the Certificates or thereafter received with respect to the Mortgage Loans. The Master Servicer being terminated pursuant to this Section 6.14 shall bear all costs of a master servicing transfer, including but not limited to those of the Trustee or Securities Administrator reasonably allocable to specific employees
and overhead, legal fees and expenses, accounting and financial consulting fees and expenses, and costs of amending this Agreement, if necessary.  If the same Person is acting as both the Securities Administrator and the Master Servicer, then the Trustee shall direct the Depositor to remove the Securities Administrator in accordance with the provisions of Section 6.06(b), and the Depositor promptly upon such direction shall remove the Securities Administrator in accordance therewith.







Notwithstanding the termination of its activities as Master Servicer, each terminated Master Servicer shall continue to be entitled to reimbursement under this Agreement to the extent such reimbursement relates to the period prior to such Master Servicer’s termination.  The successor master servicer shall not be required to purchase or reimburse the terminated Master Servicer's Advance receivables.  For the avoidance of doubt, to the extent that the terminated Master Servicer and a successor master servicer have each made Advances in respect of the same Mortgage Loan, recovered amounts shall be used to reimburse the terminated Master Servicer
and a successor master servicer in the order in which such Advances were made.


     


When a Responsible Officer of the Trustee has actual knowledge of the occurrence of an Event of Default, the Trustee shall promptly notify the Securities Administrator and the Rating Agency of the nature and extent of such Event of Default. The Trustee or the Securities Administrator shall promptly give written notice to the Master Servicer upon the Master Servicer’s failure to make Advances as required under this Agreement.


 




  





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(b)           On and after the time the Master Servicer receives a notice of termination from the Trustee pursuant to Section 6.14(a) or the Trustee receives the written resignation of the Master Servicer pursuant to Section 9.06, the Trustee, unless, in either case,  another master servicer shall have been appointed by the Trustee, shall be the successor in all respects to the Master Servicer in its capacity as such under this Agreement and with respect to the transactions set forth or provided for herein and shall have all the rights and powers and be subject to all the responsibilities,
duties and liabilities relating thereto and arising thereafter placed on the Master Servicer hereunder, including the obligation to make Advances in accordance with Section 5.04; provided, however, that any failure to perform such duties or responsibilities caused by the Master Servicer’s failure to provide information required by this Agreement shall not be considered a default by the Trustee hereunder. The Trustee shall have no responsibility for any act or omission of the Master Servicer other than any act or omission performed by the Trustee in its capacity as a successor master servicer. In addition, the Trustee shall have no liability relating to the representations and warranties of the Master Servicer set forth in Section 9.03. In the Trustee’s capacity as successor master servicer, the Trustee shall
have the same limitations on liability herein granted to the Master Servicer. As compensation for acting as successor master servicer hereunder, the Trustee shall be entitled to receive all compensation payable to the Master Servicer under this Agreement, including the Master Servicing Fee, subject to Section 6.14(d).







(c)           Notwithstanding the above, the Trustee may, if it shall be unwilling to continue to so act, or shall, if it is unable to so act, petition a court of competent jurisdiction to appoint, or appoint on its own behalf any established housing and home finance institution servicer, master servicer, servicing or mortgage servicing institution having a net worth of not less than $15,000,000, which is a Fannie Mae or Freddie Mac-approved master servicer, and meeting such other standards for a successor master servicer as are set forth in this Agreement, as the successor to such Master Servicer in the assumption
of all of the responsibilities, duties and liabilities of a master servicer, like the Master Servicer. Any entity designated by the Trustee as a successor master servicer may be an Affiliate of the Trustee; provided, however, that, unless such Affiliate meets the net worth requirements and other standards set forth herein for a successor master servicer, the Trustee, in its individual capacity, shall agree, at the time of such designation, to be and remain liable to the Trust Fund for such Affiliate’s actions and omissions in performing its duties hereunder.







The Trustee and such successor shall take such actions, consistent with this Agreement, as shall be necessary to effectuate any such succession and may make other arrangements with respect to the master servicing to be conducted hereunder which are not inconsistent herewith. The Master Servicer shall cooperate with the Trustee and any successor master servicer in effecting the termination of the Master Servicer’s responsibilities and rights hereunder including, without limitation, notifying Mortgagors of the assignment of the master servicing functions and providing the Trustee and successor master servicer, as applicable, all documents and records in electronic
or other form reasonably requested by it to enable it to assume the Master Servicer’s functions hereunder and transferring to the Trustee or such successor master servicer, as applicable, all amounts which shall at the time be or which should have been deposited by the Master Servicer in the Distribution Account and any other account or fund maintained with respect to the Certificates or thereafter be received with respect to the Mortgage Loans. Neither the Trustee nor any other successor master servicer shall be deemed to be in default hereunder by reason of any failure to make, or any delay in making, any distribution hereunder or any portion thereof caused by (i) the failure of the predecessor master servicer to deliver, or any delay in delivering, cash, documents or records to it, (ii) the failure of the predecessor master servicer to cooperate as required by this
Agreement, (iii) the failure of the predecessor master servicer to deliver the Mortgage Loan data to the Securities Administrator as required by this Agreement or (iv) restrictions imposed by any regulatory authority having jurisdiction over the predecessor master servicer. No successor master servicer (other than the Trustee, with respect to the failure of the Trustee to cooperate as set forth in subclause (ii) below) shall be deemed to be in default hereunder by reason of any failure to make, or any delay in making, any distribution hereunder or any portion thereof caused by (i) the failure of the Securities Administrator to deliver, or any delay in delivering cash, documents or records to it related to such distribution, or (ii) the failure of Trustee or the Securities Administrator to cooperate as required by this Agreement.


 




  





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Any successor master servicer shall execute and deliver to the Depositor, the Seller and the predecessor master servicer the certification required pursuant to the first sentence of Section 6.20(e).







(d)           In connection with such appointment and assumption of a successor master servicer, the Trustee may make such arrangements for the compensation of such successor out of payments on Mortgage Loans as it and such successor shall agree; provided, however, that no such compensation shall be in excess of that permitted to the Master Servicer hereunder. 







(e)           To the extent that the costs and expenses incurred by the Trustee in connection with any alleged or actual default by the Master Servicer, the termination of the Master Servicer, any appointment of a successor master servicer and/or any transfer and assumption of master servicing by the Trustee or any successor master servicer (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with the investigation of any alleged or actual default by the Master Servicer, the evaluation of the potential termination and/or the actual termination of the Master Servicer and the appointment of a
successor master servicer and (ii) all Master Servicing Transfer Costs) are not fully and timely reimbursed by the terminated master servicer, then (a) the successor master servicer shall deduct such amounts from any amounts that it otherwise would have paid to the predecessor master servicer in reimbursement of outstanding Advances, and the successor master servicer shall reimburse itself and the Trustee for any unreimbursed costs and expenses, and (b) if the Trustee is not required to be reimbursed by the Master Servicer or if such costs and expenses are not satisfied pursuant to clause (a) within 90 days, then the Trustee and the successor master servicer shall be entitled to reimbursement of such costs and expenses from the Distribution Account, subject to the limitations described in clause (C) of the definition of Available Distribution Amount.







Section 6.15                             Additional Remedies of Trustee Upon Event of Default. 


 


During the continuance of any Event of Default, so long as such Event of Default shall not have been remedied, the Trustee, in addition to the rights specified in Section 6.14, shall have the right, in its own name and as trustee of the Trust Fund, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders (including the institution and prosecution of all judicial, administrative and other proceedings and the filing of proofs of claim and debt in connection therewith).  Except as otherwise expressly provided in this Agreement, no remedy provided for by this
Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Event of Default. 


 


Section 6.16                             Waiver of Defaults. 


 


More than 50% of the Aggregate Voting Interests of the Certificateholders may waive any event of default of a Servicer under the related Servicing Agreement or Event of Default by the Master Servicer in the performance of its obligations hereunder, except that a default in the making of any Advances or any required deposit to the Distribution Account that would result in a failure of the Paying Agent to make any required payment of principal of or interest on the Certificates may only be waived with the consent of 100% of the Certificateholders.  Upon any such waiver of a past default, such default shall cease to exist, and any event of default under a Servicing Agreement or Event of Default hereunder
arising therefrom shall be deemed to have been remedied for every purpose of the related Servicing Agreement and/or this Agreement, as applicable.  No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. 


 


Section 6.17                             Notification to Holders. 


 


Upon termination of the Master Servicer or appointment of a successor to the Master Servicer, in each case as provided herein, the Trustee (i) so long as the Master Servicer and the Securities Administrator 


 




  





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are not the same Person, shall promptly notify the Securities Administrator in writing, and (ii) shall promptly mail notice thereof by first class mail to the Certificateholders at their respective addresses appearing on the Certificate Register.  The Trustee shall also, within 45 days after the date when a Responsible Officer of the Trustee has actual knowledge of the occurrence of any Event of Default, give written notice thereof to the Securities Administrator and the Certificateholders, unless such Event of Default shall have been cured or waived prior to the issuance of such notice and within such 45-day period.


  


Section 6.18                             Directions by Certificateholders and Duties of Trustee During Event of Default. 


 


Subject to the provisions of Sections 6.16 and 8.01 hereof, during the continuance of any Event of Default, Holders of Certificates evidencing not less than 25% of the Class Principal Amount (or Percentage Interest) of each Class of Certificates affected thereby may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Agreement; provided, however, that the Trustee shall be under no obligation to pursue any such remedy, or to exercise any of the trusts or powers vested in it by this Agreement (including, without limitation, (i) the
conducting or defending of any administrative action or litigation hereunder or in relation hereto and (ii) the terminating of the Master Servicer or any successor master servicer from its rights and duties as Master Servicer hereunder) at the request, order or direction of any of the Certificateholders, unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the cost, expenses and liabilities which may be incurred therein or thereby; and, provided further, that, subject to the provisions of Section 8.01, the Trustee shall have the right to decline to follow any such direction if the Trustee, in accordance with an Opinion of Counsel, (a) determines that the action or proceeding so directed may not lawfully be taken or (b) in good faith determines that the action or proceeding so
directed would involve it in personal liability for which it is not indemnified to its satisfaction or be unjustly prejudicial to the non-assenting Certificateholders. 


 


Section 6.19                             Action Upon Certain Failures of the Master Servicer and Upon Event of Default.







In the event that a Responsible Officer of the Trustee shall have actual knowledge of any action or inaction of the Master Servicer that would become an Event of Default upon the Master Servicer’s failure to remedy the same after notice, the Trustee shall give prompt written notice thereof to the Master Servicer.







Section 6.20                             Preparation of Tax Returns and Other Reports.


 


(a)           The Securities Administrator shall prepare or cause to be prepared on behalf of the Trust Fund, based upon information calculated in accordance with this Agreement pursuant to instructions given by the Depositor, and the Securities Administrator shall file federal tax returns, all in accordance with Article X hereof.  If the Securities Administrator is notified in writing that a state tax return or other return is required, then, at the sole expense of the Trust Fund, the Securities Administrator shall prepare and file such state income tax returns and such other returns as may be required by applicable law relating to the Trust Fund,
and, if required by state law, and shall file any other documents to the extent required by applicable state tax law (to the extent such documents are in the Securities Administrator’s possession).  The Securities Administrator shall forward copies to the Depositor of all such returns and Form 1099 supplemental tax information and such other information within the control of the Securities Administrator as the Depositor may reasonably request in writing, and shall distribute to each Certificateholder such forms and furnish such information within the control of the Securities Administrator as are required by the Code and the REMIC Provisions to be furnished to them, and will prepare and distribute to Certificateholders Form 1099 (supplemental tax information) (or otherwise furnish information within the control of the Securities Administrator) to the extent required by
applicable law.  The Master Servicer will indemnify the Securities Administrator and the Trustee for any liability of or assessment against the Securities Administrator and the Trustee, as applicable, resulting from any error in any of such tax or information returns directly resulting from errors in the information provided by such Master Servicer.  


 




  





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(b)           The Securities Administrator shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund and each REMIC created hereunder, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method.  The Securities Administrator shall also file a Form 8811 as required.  The Securities Administrator, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Depositor.  The Securities Administrator shall furnish any other information that is required by the
Code and regulations thereunder to be made available to the Certificateholders.  The Master Servicer shall cause each Servicer to provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports.


 


Section 6.21                             Reporting to the Commission.


 


Each of Form 10-D and Form 10-K requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.”  The Depositor hereby represents to the Securities Administrator that the Depositor has filed all such required reports during the preceding 12 months and that it has been subject to such filing requirement for the past 90 days.  The Depositor shall notify the Securities
Administrator in writing, no later than the fifth calendar day after the related Distribution Date with respect to the filing of a report on Form 10-D and no later than March 15th with respect to the filing of a report on Form 10-K, if the answer to the questions should be “no.”  The Securities Administrator shall be entitled to rely on such representations in preparing and/or filing any such report.


 


(a)           Reports Filed on Form 10-D.


 


(i)           Within 15 days after each Distribution Date (subject to permitted extensions under the Exchange Act), the Securities Administrator shall prepare and file on behalf of the Trust Fund any Form 10-D required by the Exchange Act, in form and substance as required by the Exchange Act.  The Securities Administrator shall file each Form 10-D with a copy of the related Distribution Date Statement attached thereto.  Any disclosure in addition to the Distribution Date Statement that is required to be included on Form 10-D (“Additional Form 10-D Disclosure”) shall be reported by the parties set forth on Exhibit L hereto to
the Depositor and the Securities Administrator and reviewed and approved or disapproved by the Depositor pursuant to the following paragraph and the Securities Administrator will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-D Disclosure, except as set forth in the next paragraph.


 


(ii)           As set forth on Exhibit L hereto, within 5 calendar days after the related Distribution Date, (1) the parties set forth thereon shall be required to provide to the Securities Administrator (at cts.sec.notifications@wellsfargo.com, with a copy by facsimile to 443-367-3307) and the Depositor, to the extent known by a Responsible Officer thereof, in EDGAR-compatible form, or in such other form as otherwise agreed upon by the Securities Administrator and such party, the form and substance of any Additional Form 10-D Disclosure, if applicable together with an additional disclosure notification in the form of Exhibit I hereto (an “Additional
Disclosure Notification”) and (2) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D.  The Depositor will be responsible for any reasonable fees and expenses assessed or incurred by the Securities Administrator in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this paragraph.







(iii)           After preparing the Form 10-D, the Securities Administrator shall forward electronically a copy of the Form 10-D to the Depositor for review.  The Securities Administrator will provide a copy of the Form 10-D to the Depositor by the 11th calendar day after the related Distribution Date. On the 12th calendar day after the related Distribution Date, the Depositor will provide any changes or approval to the Securities Administrator (which may be furnished
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of any written changes or approval, the Securities Administrator shall be entitled to assume that such Form 10-D is in final form and the Securities Administrator may proceed with the filing of the Form 10-D.  No later than the 13th calendar day after the related Distribution Date, a duly authorized representative of the Depositor shall sign the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Securities Administrator.  If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be
amended, the Securities Administrator will follow the procedures set forth in subsection (d)(ii) of this Section 6.21.  Promptly (but no later than 1 Business Day) after filing with the Commission, the Securities Administrator will make available on its internet website a final executed copy of each Form 10-D prepared and filed by the Securities Administrator.  Each party to this Agreement acknowledges that the performance by the Securities Administrator of its duties under this Section 6.21(a) related to the timely preparation and filing of Form 10-D is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties.  The Securities Administrator shall not have any liability for any loss, expense, damage or claim arising out of or with respect to any failure to properly prepare, execute and/or timely file such
Form 10-D, where such failure results from the Securities Administrator’s inability or failure to obtain or receive, on a timely basis, any information from any other party needed to prepare, arrange for execution or file such Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.







(b)           Reports Filed on Form 10-K.


 


(i)           On or prior to the 90th day after the end of each fiscal year of the Trust Fund or such earlier date as may be required by the Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal year for the Trust Fund ends on December 31st of each year), commencing in March 2012, the Securities Administrator shall prepare and file on behalf of the Trust Fund any Form 10-K required by the Exchange Act, in form and substance as required by the Exchange Act.  Each such Form 10-K shall include the following items, in each case to the extent
they have been delivered to the Securities Administrator within the applicable time frames set forth in this Agreement, the Custodial Agreement and the related Servicing Agreement, (1) the Item 1123 Certificate for each Servicer, each Additional Servicer, the Master Servicer and the Securities Administrator as described under Section 6.22, (2)(A) the Assessment of Compliance with servicing criteria for each Servicer, the Custodian, each Servicing Function Participant, the Master Servicer, the Securities Administrator and any Servicing Function Participant engaged by such parties (each, a “Reporting Servicer”), as described under Section 6.23 and the Custodial Agreement and (B) if any Reporting Servicer’s Assessment of Compliance identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any Reporting Servicer’s
Assessment of Compliance is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such report is not included, (3)(A) the Accountant’s Attestation for each Reporting Servicer, as described under Section 6.24 and (B) if any Accountant’s Attestation identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such Accountant’s Attestation is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such report is not included, and (4) the certification required under Rule 13a-14(d) and 15d-14(d) under the Exchange Act executed by the Depositor (provided, however, that the
Securities Administrator, at its discretion, may omit from the Form 10-K any annual compliance statement, Assessment of Compliance or Accountant’s Attestation that is not required to be filed with such Form 10-K pursuant to Regulation AB). Any disclosure or information in addition to (1) through (4) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall be reported by the parties set forth on Exhibit M hereto to the Depositor and the Securities Administrator and reviewed and approved or disapproved by the Depositor pursuant to the following paragraph and the Securities Administrator will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure, except as set forth in the next paragraph.


 


(ii)           As set forth on Exhibit M hereto, no later than March 15 following each fiscal year that the Trust Fund is subject to the Exchange Act reporting requirements, commencing in March 2012, (1) the parties set forth on Exhibit M shall be required to provide to the Securities Administrator (at cts.sec.notifications@wellsfargo.com with a copy by facsimile to 443-367-3307) and the Depositor, to the 


 




  





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extent known by a Responsible Officer thereof, a notice in the form of Exhibit I hereto, along with, in EDGAR-compatible form, or in such other form as otherwise agreed upon by the Securities Administrator and such party, the form and substance of any Additional Form 10-K Disclosure, if applicable, together with any applicable Additional Disclosure Notification and (2) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-K Disclosure or information in the Additional Disclosure Notification on Form 10-K.  The Depositor will be responsible for any reasonable fees and expenses assessed or incurred by the Securities Administrator
in connection with including any Additional Form 10-K Disclosure or information from the Additional Disclosure Notification in  Form 10-K pursuant to this paragraph.







(iii)           After preparing the Form 10-K, the Securities Administrator shall forward electronically a copy of the Form 10-K to the Depositor for review. Within three (3) business days of receipt, but in no event later than March 25, the Depositor shall notify the Securities Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form 10-K.  In the absence of any written changes or approval, the Securities Administrator shall be entitled to assume that such Form 10-K is in final form.  No later than the close of business on the 4th Business Day prior to the 10-K Filing Deadline, a senior
officer in charge of securitization of the Depositor shall sign the Form 10-K and related certifications required under the Exchange Act and return an electronic or fax copy of such documents  (with an original executed hard copy to follow by overnight mail) to the Securities Administrator.  If a Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be amended, the Securities Administrator will follow the procedures set forth in Section 6.21(d).  Promptly (but no later than 1 Business Day) after filing with the Commission, the Securities Administrator will make available on its internet website a final executed copy of each Form 10-K prepared and filed by the Securities Administrator.  The parties to this Agreement acknowledge that the performance by the Securities Administrator of its duties under this Section 6.21(b)
related to the timely preparation and filing of Form 10-K is contingent upon such parties (and the Custodian, the Servicers and any Additional Servicer or Servicing Function Participant) strictly observing all applicable deadlines in the performance of their duties.  The Securities Administrator shall not have any liability for any loss, expense, damage or claim arising out of or with respect to any failure to properly prepare and/or timely file such Form 10-K, where such failure results from the Securities Administrator’s inability or failure to obtain or receive, on a timely basis, any information from any other party needed to prepare, arrange for execution or file such Form 10-K, not resulting from its own negligence, bad faith or willful misconduct.







(c)           Reports Filed on Form 8-K.


 


(i)           Within four (4) Business Days after the occurrence of an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”), and if requested by the Depositor, the Securities Administrator shall prepare and file on behalf of the Trust Fund any Form 8-K, as required by the Exchange Act, provided that the Depositor shall file the initial Form 8-K in connection with the issuance of the Certificates.  Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form 8-K (“Form 8-K Disclosure
Information”) shall be reported by the parties set forth on Exhibit N hereto to the Depositor and the Securities Administrator and reviewed and approved or disapproved by the Depositor pursuant to the following paragraph and the Securities Administrator will have no duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information or any Form 8-K, except as set forth in the next paragraph.







(ii)           As set forth on Exhibit N hereto, for so long as the Trust Fund is subject to the Exchange Act reporting requirements, no later than the end of business (New York City time) on the 2nd Business Day after the occurrence of a Reportable Event (1i) the parties to this transaction shall be required to provide to the Securities Administrator (at cts.sec.notifications@wellsfargo.com with a copy by facsimile to 443-367-3307) and the Depositor, to the extent known by a Responsible Officer thereof, a notice in the form of Exhibit I attached hereto, along with, in EDGAR-compatible form, or in such other form as otherwise agreed upon by the Securities
Administrator and such party, the form and substance of any Form 8-K Disclosure Information, if applicable, together with an Additional Disclosure Notification and (2) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the 


 




  





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Form 8-K Disclosure Information.  The Depositor will be responsible for any reasonable fees and expenses assessed or incurred by the Securities Administrator in connection with including any Form 8-K Disclosure Information on Form 8-K pursuant to this paragraph.  The Securities Administrator has no duty under this Agreement to monitor or enforce the performance by the parties listed in Exhibit N of their duties under this paragraph and will not solicit from such parties any Form 8-K Disclosure Notification.


 


(iii)           After preparing the Form 8-K, the Securities Administrator shall forward electronically a copy of the Form 8-K to the Depositor for review. Promptly, but no later than the close of business on the 3rd Business Day after the Reportable Event, the Depositor shall notify the Securities Administrator in writing (which may be furnished electronically) of any changes to or approval of such Form 8-K. In the absence of receipt of any written changes or approval, the Securities Administrator shall be entitled to assume that such Form 8-K is in final form and the Securities Administrator may proceed with the filing of the Form 8-K. No later than noon
(New York City time) on the 4th Business Day after the Reportable Event, a duly authorized officer of the Depositor shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed hard copy to follow by overnight mail) to the Securities Administrator. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs to be amended, the Securities Administrator will follow the procedures set forth in Section 6.21(d). Promptly (but no later than 1 Business Day) after filing with the Commission, the Securities Administrator will make available on its internet website a final executed copy of each Form 8-K prepared and filed by the Securities Administrator. The parties to this Agreement acknowledge that the performance by the Securities Administrator of its duties under this Section 6.21(c) related to the timely
preparation and filing of Form 8-K is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties. The Securities Administrator shall not have any liability for any loss, expense, damage or claim arising out of or with respect to any failure to properly prepare and/or timely file such Form 8-K, where such failure results from the Securities Administrator’s inability or failure to obtain or receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 8-K, not resulting from its own negligence, bad faith or willful misconduct.







(d)           Delisting; Amendments; Late Filings.


 


(i)           On or prior to January 30, 2012, if regulations permit the Trust Fund to suspend its Exchange Act reporting requirements, and with the prior written consent of the Depositor, the Securities Administrator shall prepare and file a Form 15 Suspension Notification with respect to the Trust Fund under the Exchange Act (a “Form 15”).  Subsequent to the filing of a Form 15, if the Depositor determines that the Trust Fund has once again become subject to the Exchange Act reporting requirements, then it shall promptly notify the Securities Administrator, and the Securities Administrator shall recommence preparing and filing required
Exchange Act reports.  Prior to January 30 of the following calendar year, the Securities Administrator shall, if directed to do so by the Depositor, in accordance with industry standards, prepare and file a Form 15.


 


In connection with any direct offering of Certificates by the Depositor, in an offering registered with the Commission, subsequent to the filing of a Form 15 pursuant to the preceding paragraph: (1) the Depositor shall notify the Securities Administrator in writing not less than 10 days prior to the date on which such offering will be made; (2) the Depositor shall cause to be prepared and filed the initial current report on Form 8-K required to be filed in connection with such offering; (3) the Securities Administrator, as directed by the Depositor, shall file a report on Form 10-D for the Distribution Date following the month in which such offering occurs and,
thereafter, any reports on forms 8-K, 10-K and 10-D in respect of the Trust Fund as and to the extent required under the Exchange Act, as set forth in this Section (other than the report referred to in clause (2) above); (4) the Depositor shall be responsible for notifying the other parties to the transaction of such offering and that the obligations of such parties to provide information in connection with the Depositor’s  Exchange Act reporting requirements have been reinstated; and (5) the Depositor shall be responsible for all reasonable fees and expenses incurred by the Securities Administrator in connection with such offering, including its review and approval of any offering document and any amendment to any transaction document made in connection with such offering.


 




  





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(ii)           In the event that the Securities Administrator is unable to timely file with the Commission all or any required portion of any Form 8-K, 10-D or 10-K required to be filed by this Agreement because required disclosure information was either not delivered to it or delivered to it after the delivery deadlines set forth in this Agreement or for any other reason, the Securities Administrator will promptly, but no later than within one Business Day, notify electronically the Depositor.  In the case of Form 10-D and 10-K, the parties to this Agreement will cooperate to prepare and file a Form 12b-25 and a 10-D/A or 10-K/A, as applicable,
pursuant to Rule 12b-25 of the Exchange Act.  In the case of Form 8-K, the Securities Administrator will, upon receipt of all required Form 8-K Disclosure Information and upon the approval and direction of the Depositor, include such disclosure information on the next Form 10-D.  In the event that any previously filed Form 8-K, 10-D or 10-K needs to be amended to include additional disclosure in connection with any additional Form 10-D disclosure (other than for the purpose of restating any Distribution Date Statement), additional Form 10-K or Form 8-K disclosure information, the Securities Administrator will electronically notify the Depositor and the affected parties and the Securities Administrator shall prepare and file, and such parties will cooperate in the preparation and filing of any necessary Form 8-K/A, 10-D/A or 10-K/A.  Any Form 15, Form 12b-25
or any amendment to Form 8-K, 10-D or 10-K shall be signed by a senior officer in charge of securitization of the Depositor.  The parties to this Agreement acknowledge that the performance by the Securities Administrator of its duties under this Section 6.21(d) related to the timely preparation and filing of a Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K is contingent upon each such party performing its duties under this Section.  The Securities Administrator shall have no liability for any loss, expense, damage or claim arising out of or with respect to any failure to properly prepare and/or timely file any such Form 15, Form 12b-25 or any amendments to Forms 8-K, 10-D or 10-K, where such failure results from the Securities Administrator’s inability or failure to obtain or receive, on a timely basis, any information from any other party needed
to prepare, arrange for execution or file such Form 15, Form 12b-25 or any amendments to Forms 8-K, 10-D or 10-K, not resulting from its own negligence, bad faith or willful misconduct.


 


Notwithstanding anything to the contrary herein, the Securities Administrator shall not file any Form 8-K, Form 10-D or Form 10-K as to which it has received from the Depositor a notice to the effect that, upon review of the proposed filing, the Depositor does not approve of such filing.







(e)           Sarbanes-Oxley Certification Back-up.







In connection with the annual certification to be delivered by the Depositor pursuant to Rules 13a-14d and 15d-14(d) of the Exchange Act, each Servicer, pursuant to the applicable Servicing Agreement, the Master Servicer and the Securities Administrator shall provide, and each Servicer, pursuant to the applicable Servicing Agreement, the Master Servicer and the Securities Administrator shall cause any Servicing Function Participant engaged by it to provide, to the Depositor, by March 15 following each year in which the Trust Fund is subject to the reporting requirements of the Exchange Act and otherwise within a reasonable period of time upon request, a certification (each, a “Back-Up Certificate”), in
the form attached hereto as Exhibit J (or in such other form attached to the applicable Servicing Agreement), upon which the Depositor and its officers, directors and Affiliates can reasonably rely.  In the event that a Servicer, the Master Servicer, the Securities Administrator or any Servicing Function Participant engaged by any such party is terminated or resigns pursuant to the terms of this Agreement, the applicable Servicing Agreement or any applicable sub-servicing agreement, as the case may be, such party shall provide a Back-Up Certificate to the Depositor pursuant to this Section 6.21(e) with respect to the period of time it was subject to this Agreement, the applicable Servicing Agreement or any applicable sub-servicing agreement, as the case may be.







The Master Servicer shall enforce any obligation of the Servicers, to the extent set forth in the related Servicing Agreement, to deliver to the Master Servicer the Back-Up Certificate as may be required pursuant to the related Servicing Agreement.


 




  





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Section 6.22                             Annual Statements of Compliance.


 


(a)           The Master Servicer, the Securities Administrator and each Servicer shall deliver or otherwise make available (and the Master Servicer, the Securities Administrator and each Servicer shall cause any Additional Servicer engaged by it to deliver or otherwise make available) to the Depositor, the Trustee and the Securities Administrator on or before March 1 of each year, commencing in March 2012, an Officer’s Certificate (an “Item 1123 Certificate”) stating, as to the signer thereof, that (A) a review
of such party’s activities during the preceding calendar year or portion thereof and of such party’s performance under this Agreement, or such other applicable agreement in the case of an Additional Servicer, has been made under such officer’s supervision and (B) to the best of such officer’s knowledge, based on such review, such party has fulfilled all its obligations under this Agreement, the Servicing Agreement or such other applicable agreement in the case of an Additional Servicer, in all material respects throughout such year or portion thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status thereof.  Promptly after receipt of each such Item 1123 Certificate, the Depositor shall review such Item 1123 Certificate and, if
applicable, consult with each such party, as applicable, as to the nature of any failures by such party, in the fulfillment of any of such party’s obligations hereunder or, in the case of an Additional Servicer, under such other applicable agreement.







(b)           In the event the Master Servicer, the Securities Administrator or any Additional Servicer engaged by any such party is terminated or resigns pursuant to the terms of this Agreement, or any applicable agreement in the case of an Additional Servicer, as the case may be, such party shall provide an Item 1123 Certificate pursuant to this Section 6.22 or as required under such other applicable agreement, as the case may be, notwithstanding any such termination, assignment or resignation.







(c)           The Master Servicer shall enforce any obligation of any Servicer, to the extent set forth in the related Servicing Agreement, to deliver to the Master Servicer an Item 1123 Certificate as may be required pursuant to the related Servicing Agreement. The Master Servicer shall include such Item 1123 Certificate with its own Item 1123 Certificate to be submitted to the Securities Administrator, the Depositor and the Trustee pursuant to this Section.







Section 6.23                             Annual Assessments of Compliance.







(a)         On or before March 1 of each calendar year, commencing in March 2012, the Master Servicer and the Securities Administrator and each Servicer, each at its own expense, shall furnish or otherwise make available, and each such party shall cause any Servicing Function Participant engaged by it to furnish or otherwise make available, each at its own expense, to the Securities Administrator, the Trustee and the Depositor, a report on an assessment of compliance with the Relevant Servicing Criteria (an “Assessment of Compliance”) that contains (A) a statement by such party of its responsibility for assessing compliance with the Relevant Servicing
Criteria, (B) a statement that such party used the Relevant Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such party’s Assessment of Compliance with the Relevant Servicing Criteria as of and for the fiscal year covered by the Form 10-K required to be filed pursuant to Section 6.21(b), including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and (D) a statement that a registered public accounting firm has issued an Accountant’s Attestation on such party’s Assessment of Compliance with the Relevant Servicing Criteria as of and for such period.


 


(b)           No later than the end of each fiscal year for the Trust Fund for which a 10-K is required to be filed, each Servicer and the Master Servicer shall each forward to the Securities Administrator the name of each Servicing Function Participant engaged by it and what Relevant Servicing Criteria will be addressed in the Assessment of Compliance prepared by such Servicing Function Participant (provided, however, that the Master Servicer need not provide such information to the Securities Administrator so long
as the Master Servicer and the Securities Administrator are the same Person). When the Master Servicer and each Servicer (or any Servicing Function Participant engaged by them) submit their 


 




  





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Assessments of Compliance to the Securities Administrator, such parties will also at such time include the Assessments of Compliance (and Accountant’s Attestation), pursuant to Sections 6.23 and 6.24, of each Servicing Function Participant engaged by it.







(c)           Promptly after receipt of each Assessment of Compliance, (i) the Depositor shall review each such report and, if applicable, consult with the Master Servicer, the Securities Administrator, a Servicer, the Custodian and any Servicing Function Participant engaged by such parties as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria by each such party, and (ii) the Securities Administrator shall confirm that the Assessments of Compliance, taken individually, address the Relevant Servicing Criteria for each party as set forth on Exhibit K or the applicable exhibit to each Servicing Agreement in respect of
each Servicer and notify the Depositor of any exceptions.  


 


(d)           In the event the Master Servicer, the Securities Administrator or any Servicing Function Participant engaged by any such party is terminated, assigns its rights and obligations under or resigns pursuant to, the terms of this Agreement, or any other applicable agreement, as the case may be, such party shall provide an Assessment of Compliance pursuant to this Section 6.23, or to such other applicable agreement, notwithstanding any termination, assignment or resignation.







(e)           The Master Servicer shall enforce any obligation of the Servicers and the Custodian, to the extent set forth in the related Servicing Agreement or the Custodial Agreement, as applicable, to deliver to the Master Servicer an Assessment of Compliance within the time frame set forth in, and in such form and substance as may be required pursuant to, the related Servicing Agreement or the Custodial Agreement, as applicable.  The Master Servicer shall include all Assessments of Compliance received by it from the Servicers and the Custodian with its own Assessment of Compliance to be submitted to the Securities Administrator pursuant to this
Section.







(f)           The obligations of each party to provide assessments of compliance and attestations under this Section 6.22 and Section 6.23 shall terminate upon the filing of a Form 15 suspension notice on behalf of the Trust Fund, but shall become effective after such a filing if the Trust Fund is required to continue to file reports under the Exchange Act as contemplated in Section 6.21(d)(i).







Section 6.24                             Accountant’s Attestation.


 


(a)           On or before March 1 of each calendar year, commencing in 2012, the Master Servicer, the Securities Administrator and each Servicer, each at its own expense, shall cause, and each such party shall cause any Servicing Function Participant engaged by it to cause, each at its own expense, a registered public accounting firm (which may also render other services to the Master Servicer, the Securities Administrator, a Servicer or such other Servicing Function Participants, as the case may be) and that is a member of the American Institute of Certified Public Accountants to furnish a report (the “Accountant’s Attestation”) to the
Securities Administrator and to the Depositor, to the effect that (i) it has obtained a representation regarding certain matters from the management of such party, which includes an assertion that such party has complied with the Relevant Servicing Criteria, and (ii) on the basis of an examination conducted by such firm in accordance with standards for attestation engagements issued or adopted by the PCAOB, it is expressing an opinion as to whether such party’s compliance with the Relevant Servicing Criteria was fairly stated in all material respects, or it cannot express an overall opinion regarding such party’s Assessment of Compliance with the Relevant Servicing Criteria.  In the event that an overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such an opinion.  Such report
must be available for general use and not contain restricted use language.


 


(b)           Promptly after receipt of each Accountant’s Attestation from the Master Servicer, each Servicer, the Securities Administrator, the Custodian or any Servicing Function Participant engaged by such parties, (i) the Depositor shall review such reports and, if applicable, consult with such parties as to the nature of any defaults by such parties, in the fulfillment of any of each such party’s obligations 


 




  





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hereunder or under any other applicable agreement, and (ii) the Securities Administrator shall confirm that each Assessment of Compliance is coupled with an Accountant’s Attestation meeting the requirements of this Section and notify the Depositor of any exceptions.


 


(c)           The Master Servicer shall include each Accountant’s Attestation furnished to it by the Servicers and the Custodian with its own Accountant’s Attestation to be submitted to the Securities Administrator pursuant to this Section.







(d)           In the event the Master Servicer, the Securities Administrator, the Custodian, any Servicer or Servicing Function Participant engaged by any such party, is terminated, assigns its rights and duties under, or resigns pursuant to the terms of, this Agreement, the Custody Agreement or a Servicing Agreement, as the case may be, such party shall at its own expense cause a registered public accounting firm to provide an Accountant’s Attestation pursuant to this Section 6.24, or other applicable agreement, notwithstanding any such termination, assignment or resignation.







(e)           The Master Servicer shall enforce any obligation of the Servicers and the Custodian, to the extent set forth in the related Servicing Agreement and the Custodial Agreement, as applicable, to deliver to the Master Servicer an Assessment of Compliance within the timeframe set forth in, and in such form and substance as may be required pursuant to, the related Servicing Agreement or the Custodial Agreement, as applicable.  


 


Section 6.25                             Intention of the Parties and Interpretation; Indemnification.


 


Each of the parties acknowledges and agrees that the purpose of Sections 6.21, 6.22 and 6.23 of this Agreement is to facilitate compliance by the Depositor with the provisions of Regulation AB promulgated by the Commission under the Exchange Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be amended from time to time and subject to such clarification and interpretive advice as may be issued by the staff of the Commission from time to time.  Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to
be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) each party shall comply with the reasonable requests made by the Depositor for delivery of such additional or different information as the Depositor may determine in good faith is necessary to comply with the provisions of Regulation AB, which information is available to such party without unreasonable effort or expense and within such timeframe as may be reasonably requested, and (d) no amendment of this Agreement shall be required to effect any such changes in the parties’ obligations as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.


 


Each of the Master Servicer, the Securities Administrator, the Custodian and any Servicing Function Participant engaged by any such party shall indemnify and hold harmless the Depositor and its Affiliates and each of their directors, officers, employees, agents, and affiliates from and against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon (a) any breach by such party of any of its obligations hereunder, including particularly its obligations to provide any Statement of Compliance, Assessment of Compliance or Accountant’s Attestation required under Sections 6.22, 6.23 and 6.24,
respectively, or any information, data or materials required to be included in any Exchange Act report or (b) any material misstatement or material omission in any Statement of Compliance, Assessment of Compliance, Accountant’s Attestation delivered by it or by any Servicing Function Participation engaged by it pursuant to this Agreement or any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K Disclosure concerning such party.  If the indemnification provided for herein is unavailable or insufficient to hold harmless the Depositor or its Affiliates, as the case may be, then each such party agrees that it shall contribute to the amount paid or payable by the Depositor and its Affiliates, as applicable, as a result of any claims, losses, damages or liabilities incurred by such party, in such proportion as is appropriate to reflect the relative
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indemnification shall survive the termination of this Agreement or the termination of any party to this Agreement.












ARTICLE VII







PURCHASE OF MORTGAGE LOANS AND TERMINATION OF THE TRUST FUND


 


Section 7.01                             Purchase of Mortgage Loans; Termination of Trust Fund Upon Purchase or Liquidation of All Mortgage Loans.


 


(a)           The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Securities Administrator to make payments to the Certificateholders as set forth in Section 7.02), shall terminate on the earliest of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property, (ii) the distribution of proceeds in connection with the exercise of the Clean-up Call and (iii) the Distribution Date immediately following the Latest Possible Maturity Date; provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James’s, living on the date hereof.  Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a “qualified liquidation” under the REMIC Provisions.


 


(b)           In connection with an exercise of the Clean-up Call, the Trustee, at the direction of the Securities Administrator, shall cause each REMIC to adopt a plan of complete liquidation by complying with the provisions of Section 7.03. 


 


(c)           The Depositor, the Master Servicer, each Servicer, the Securities Administrator and the Custodian shall be reimbursed from the Clean-up Call Price for any Advances, Servicing Advances, accrued and unpaid Servicing Fees and Master Servicing Fees or other amounts with respect to the related Mortgage Loans that are reimbursable to such parties under this Agreement, the related Servicing Agreement or the Custodial Agreement prior to distributions to any Certificateholder.







(d)           On any date on which the Aggregate Stated Principal Balance is less than twenty percent (20%) of the Aggregate Stated Principal Balance as of the Cut-off Date, the Holder of the Class LT-R Certificate may terminate the Trust Fund by purchasing all of the Mortgage Loans and all property acquired in respect of any Mortgage Loan for the Clean-up Call Price.  The Holder of the Class LT-R Certificate shall provide to the Securities Administrator not less than thirty (30) days prior written notice of its intent to exercise its purchase and termination right under this Section 7.01(d) and comply
with the requirements of this Article VII to effect a “qualified liquidation” under the REMIC Provisions.  The Holder of the Class LT-R Certificate is an express third party beneficiary of this Agreement, and shall have the same power and ability to exercise and enforce the rights stated to be provided to it hereunder as if it were a signatory hereto.  The Depositor, the Master Servicer, the Securities Administrator and the Trustee hereby consent to any such exercise.







(e)           If the Holder of the Class LT-R Certificate has not exercised its purchase and termination right pursuant to clause (d) above, then, on any date on which the Aggregate Stated Principal Balance is less than five percent (5%) of the Aggregate Stated Principal Balance as of the Cut-off Date, the Master Servicer may terminate the Trust Fund by purchasing all of the Mortgage Loans and all property acquired in respect of any Mortgage Loan for the Clean-up Call Price.  The Master Servicer shall provide to the Securities Administrator not less than thirty (30) days prior written notice of its intent
to exercise its purchase and termination right under this Section 7.01(e) and comply with the requirements of this Article VII to effect a “qualified liquidation” under the REMIC Provisions.  The Depositor, the Securities Administrator and the Trustee hereby consent to any such exercise.


 




  





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Section 7.02                             Procedure Upon Redemption and Termination of Trust Fund. 


 


(a)           If on any Determination Date the Master Servicer determines that there are no outstanding Mortgage Loans, and no other funds or assets in the Trust Fund other than the funds in the Distribution Account, the Master Servicer shall direct the Securities Administrator promptly to send a final distribution notice to each Certificateholder.  Such notice shall specify (A) the Distribution Date upon which final distribution on the Certificates of all amounts required to be distributed to Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust
Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Certificates at the office or agency of the Certificate Registrar therein specified.  The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of the Certificates.  Upon any such termination, the duties of the Certificate Registrar with respect to the Certificates shall terminate.


 


Upon termination of the Trust Fund, the Securities Administrator shall terminate, or request the Master Servicer to terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.


 


(b)           In the event that all of the Holders do not surrender their Certificates for cancellation within three months after the time specified in the termination notice, the Securities Administrator shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto.  If within one year after the second notice any Certificates shall not have been surrendered for cancellation, the Securities Administrator may take appropriate steps to contact the remaining Certificateholders concerning surrender of such Certificates, and the cost thereof
shall be paid out of the amounts distributable to such Holders.  If within two years after the second notice any Certificates shall not have been surrendered for cancellation, the Securities Administrator shall, subject to applicable state law relating to escheatment, hold all amounts distributable to such Holders for the benefit of such Holders.  No interest shall accrue on any amount held by the Securities Administrator and not distributed to a Certificateholder due to such Certificateholder’s failure to surrender its Certificate(s) for payment of the final distribution thereon in accordance with this Section.


 


(c)           Any reasonable expenses incurred by the Securities Administrator or the Trustee in connection with any redemption or termination or liquidation of the Trust Fund shall be reimbursed from proceeds received from the liquidation of the Trust Fund.


 


Section 7.03                             Additional Trust Fund Termination Requirements. 


 


(a)           Any termination of the Trust Fund in connection with the Clean-up Call or involving any other sale of assets of the Trust Fund prior to the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund shall be effected in accordance with the following additional requirements, unless the Securities Administrator and the Trustee receive an Opinion of Counsel (at the expense of the party exercising any right of termination), addressed to the Securities Administrator and the Trustee to the effect that the failure of the Trust Fund to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC
Event:


 


(i)           Within 89 days prior to the time of the making of the final payment on the Certificates, upon notification that a party intends to exercise its option to cause the termination of the Trust Fund, the Trustee, at the direction of the Securities Administrator, shall adopt a plan of complete liquidation of the Trust Fund on behalf of each REMIC, meeting the requirements of a qualified liquidation under the REMIC Provisions, in the form prepared and provided by the party exercising its termination right in 


 




  





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connection with a Clean-up Call or by the Depositor in connection with any other termination of the Trust Fund;


 


(ii)           Any sale of the Mortgage Loans upon the exercise of a Clean-up Call shall be a sale for cash and shall occur at or after the time of adoption of such a plan of complete liquidation and prior to the time of making of the final payment on or credit to the Certificates, and upon the closing of such a sale, the Trustee shall deliver or cause the Custodian to deliver the Mortgage Loans to the purchaser thereof as instructed by the party exercising the Clean-up Call;


 


(iii)           On the date specified for final payment of the Certificates, the Securities Administrator shall make final distributions of principal and interest on the Certificates in accordance with Section 5.02 and, after payment of, or provision for payment of any outstanding expenses, distribute or credit, or cause to be distributed or credited, to the Holders of the Residual Certificates all cash on hand after such final payment (other than cash retained to meet claims), and the Trust Fund (and each REMIC) shall terminate at that time; and


 


(iv)           In no event may the final payment on or credit to the Certificates or the final distribution or credit to the Holders of the Residual Certificates be made after the 89th day from the date on which the plan of complete liquidation is adopted.


 


(b)           By its acceptance of a Residual Certificate, each Holder thereof hereby agrees to accept the plan of complete liquidation adopted by the Trustee at the direction of the Securities Administrator under this Section and to take such other action in connection therewith as may be reasonably requested by the Securities Administrator or any Servicer.


 







ARTICLE VIII







RIGHTS OF CERTIFICATEHOLDERS


 


Section 8.01                             Limitation on Rights of Holders. 


 


(a)           The death or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting or take any action or proceeding in any court for a partition or winding up of this Trust Fund, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.  Except as otherwise expressly provided herein, no Certificateholder, solely by virtue of its status as a Certificateholder, shall have any right to vote or in any manner otherwise control the Trustee, the Master Servicer or the operation
and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association, nor shall any Certificateholder be under any liability to any third person by reason of any action taken by the parties to this Agreement pursuant to any provision hereof.


 


(b)           No Certificateholder, solely by virtue of its status as Certificateholder, shall have any right by virtue of or by availing itself of any provision of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Holder previously shall have given to the Trustee a written notice of an Event of Default and of the continuance thereof, as hereinbefore provided, and unless, except as otherwise specified herein, the Holders of Certificates evidencing not less than 25% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class
affected thereby shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the cost, expenses and liabilities to be incurred therein or thereby, and the Trustee, for sixty days after its receipt of such notice, request and 


 




  





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offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding and no direction inconsistent with such written request has been given such Trustee during such sixty-day period by such Certificateholders; it being understood and intended, and being expressly covenanted by each Certificateholder with every other Certificateholder, the Securities Administrator and the Trustee, that no one or more Holders of Certificates shall have any right in any manner whatever by virtue of or by availing itself of any provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of such Certificates, or to obtain or seek to obtain priority over or
preference to any other such Holder, or to enforce any right under this Agreement, except in the manner herein provided and for the benefit of all Certificateholders.  For the protection and enforcement of the provisions of this Section, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.


 


Section 8.02                             Access to List of Holders. 


 


(a)           If the Trustee is not acting as Certificate Registrar, the Certificate Registrar will furnish or cause to be furnished to the Trustee, within fifteen days after receipt by the Certificate Registrar of a request by the Trustee in writing, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Certificateholders of each Class as of the most recent Record Date.


 


(b)           If three or more Holders or Certificate Owners (hereinafter referred to as “Applicants”) apply in writing to the Certificate Registrar, and such application states that the Applicants desire to communicate with other Holders with respect to their rights under this Agreement or under the Certificates and is accompanied by a copy of the communication which such Applicants propose to transmit, then the Certificate Registrar shall, within five Business Days after the receipt of such application, afford such Applicants reasonable access during the normal business hours of the Certificate Registrar to the most recent list of
Certificateholders held by the Certificate Registrar or shall, as an alternative, send, at the Applicants’ expense, the written communication proffered by the Applicants to all Certificateholders at their addresses as they appear in the Certificate Register.


 


(c)           Every Holder or Certificate Owner, if the Holder is a Clearing Agency, by receiving and holding a Certificate, agrees with the Depositor, the Master Servicer, the Securities Administrator, the Certificate Registrar and the Trustee that neither the Depositor, Master Servicer, the Securities Administrator, the Certificate Registrar nor the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Certificateholders hereunder, regardless of the source from which such information was derived.







Section 8.03                             Acts of Holders of Certificates. 


 


(a)           Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by Holders or Certificate Owners, if the Holder is a Clearing Agency, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and the Securities Administrator and, where expressly required herein, to the Master Servicer.  Such instrument or
instruments (as the action embodies therein and evidenced thereby) are herein sometimes referred to as an “Act” of the Holders signing such instrument or instruments.  Proof of execution of any such instrument or of a writing appointing any such agents shall be sufficient for any purpose of this Agreement and conclusive in favor of the Trustee, the Securities Administrator and the Master Servicer, if made in the manner provided in this Section.  Each of the Trustee, the Securities Administrator and the Master Servicer shall promptly notify the others of receipt of any such instrument by it, and shall promptly forward a copy of such instrument to the others.


 


 (b)           The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments or deeds, certifying that the individual signing such


 




  





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 instrument or writing acknowledged to him the execution thereof.  Whenever such execution is by an officer of a corporation or a member of a partnership on behalf of such corporation or partnership, such certificate or affidavit shall also constitute sufficient proof of his authority.  The fact and date of the execution of any such instrument or writing, or the authority of the individual executing the same, may also be proved in any other manner which the Trustee or the Securities Administrator deems sufficient.


 


(c)           The ownership of Certificates (whether or not such Certificates shall be overdue and notwithstanding any notation of ownership or other writing thereon made by anyone other than the Trustee) shall be proved by the Certificate Register, and none of the Trustee, the Securities Administrator, the Master Servicer or the Depositor shall be affected by any notice to the contrary.


 


(d)           Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Certificate shall bind every future Holder of the same Certificate and the Holder of every Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Trustee, the Securities Administrator or the Master Servicer in reliance thereon, whether or not notation of such action is made upon such Certificate.


 







ARTICLE IX







ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER







Section 9.01                             Duties of the Master Servicer; Enforcement of Servicer’s and Master Servicer’s Obligations.







(a)           The Master Servicer, on behalf of the Trustee and the Certificateholders shall, from and after the Closing Date, monitor the performance of the Servicers under the Servicing Agreements.  In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall consult with each Servicer as necessary from time to time to carry out the Master Servicer’s obligations hereunder, shall receive and review all reports, information and other data provided to the Master Servicer by each Servicer
and shall enforce the obligation of each Servicer duly and punctually to perform and observe the covenants, duties, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement.  The Master Servicer shall independently and separately monitor each Servicer’s servicing activities with respect to each related Mortgage Loan in respect of the provisions of the applicable Servicing Agreement, reconcile the reports and other data provided to the Master Servicer pursuant to the previous sentence on a monthly basis based on the Mortgage Loan data provided to the Master Servicer by or on behalf of the Depositor on the Closing Date (upon which data the Master Servicer shall be entitled to rely and with respect to which the Master Servicer shall have no obligation to confirm or verify) and coordinate corrective adjustments to each
Servicer’s and the Master Servicer’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 4.02, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of each Servicer to the Distribution Account pursuant to the related Servicing Agreement.  In its review of the activities of any Servicer, the Master Servicer may rely upon an Officer’s Certificate of such Servicer (or similar document signed by an officer of such Servicer), and such Servicer’s Assessment of Compliance and related Accountant’s Attestation or other
accountants’ report provided to the Master Servicer pursuant to the related Servicing Agreement, with regard to such Servicer’s compliance with the terms of its Servicing Agreement.  Subject to Section 9.08, the Master Servicer shall not be responsible or liable for the day-to-day servicing activities of any Servicer or for any unlawful act or omission, breach, negligence, fraud, willful misconduct or bad faith of any Servicer.  Notwithstanding any provision of this Agreement, the Master Servicer shall have no duty to review any loss mitigation decisions of any Servicer (including without limitation the calculation of realized losses and gains and the management and disposition of any REO Properties) or any actions of the Trustee or the Controlling Holder in connection therewith.


 




  





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Upon the occurrence of an event that, unless cured, would constitute grounds for termination of a Servicer under the related Servicing Agreement, the Master Servicer shall promptly notify the Trustee and the Depositor thereof, and shall specify in such notice the action, if any, the Master Servicer is taking in respect of such default.  So long as any such event of default shall be continuing, the Master Servicer may, and shall, if it determines such action to be in the best interests of Certificateholders, (i) terminate all of the rights and powers of such Servicer pursuant to the applicable provisions of the Servicing Agreement; (ii) exercise any
rights it may have to enforce the Servicing Agreement against such Servicer; and/or (iii) waive any such default under the Servicing Agreement or take any other action with respect to such default as is permitted thereunder.  Notwithstanding the immediately preceding sentence, if the event of default is the failure of a Servicer to remit any payment required to be made under the terms of the applicable Servicing Agreement, and such failure continues unremedied for the duration of the applicable grace period, then the Master Servicer shall terminate all of the rights and powers of such Servicer pursuant to the applicable provisions of the related Servicing Agreement, unless any waiver described under Section 6.16 shall have been obtained.







(b)           Upon any termination by the Master Servicer of a Servicer’s rights and powers pursuant to the related Servicing Agreement, the rights and powers of the Servicer with respect to the related Mortgage Loans shall vest in the Master Servicer and the Master Servicer shall be the successor in all respects to such Servicer in its capacity as Servicer with respect to such Mortgage Loans under the related Servicing Agreement, unless or until the Master Servicer shall have appointed, with the consent of the Trustee, such consent not to be unreasonably withheld, and in accordance with the applicable
provisions of the related Servicing Agreement, a new Fannie Mae- or Freddie Mac-approved Person that is a member in good standing of MERS to serve as successor to the Servicer; provided, however, that no Trustee consent shall be required if the successor servicer is a Person that was a Servicer on the Closing Date; provided, further, that it is understood and agreed by the parties hereto that there will be a period of transition (not to exceed 90 days) before the actual servicing functions can be fully transferred to a successor servicer (including the Master Servicer). With such consent, the Master Servicer may elect to continue to serve as successor servicer under the Servicing Agreement. Upon appointment of a successor servicer, as authorized under this
Section 9.01(b), unless the successor servicer shall have assumed the obligations of the terminated Servicer under such Servicing Agreement, the Master Servicer, the Trustee and such successor servicer shall enter into a servicing agreement in a form substantially similar to the affected Servicing Agreement. In connection with any such appointment, the Master Servicer may make such arrangements for the compensation of such successor servicer as it and such successor shall agree.  The Master Servicer in its sole discretion shall have the right to agree to compensation of a successor servicer in excess of that permitted to a Servicer under the Servicing Agreements if such increase is, in its good faith and judgment,  necessary or advisable to engage a successor servicer.  Notwithstanding anything herein to the contrary, in no event shall the Master
Servicer be liable for any Servicing Fee or for any differential between the amount of the Servicing Fee paid to the original servicer and the amount necessary to induce any successor servicer to act as successor servicer hereunder.  To the extent the successor servicer assumes the obligations of the terminated Servicer under the applicable Servicing Agreement, the Master Servicer may amend such Servicing Agreement to effect such change to the Servicing Fee without the consent of the Certificateholders.







The Master Servicer shall pay the costs of such enforcement (including the termination of any Servicer, the appointment of a successor servicer or the transfer and assumption of the servicing by the Master Servicer) at its own expense and shall be reimbursed therefor initially (i) by the terminated Servicer, (ii) from a general recovery resulting from such enforcement only to the extent, if any, that such recovery exceeds all amounts due in respect of the related Mortgage Loans, (iii) from a specific recovery of costs, expenses or attorney’s fees against the party against whom such enforcement is directed, or (iv) to the extent that such
amounts described in (i)-(iii) above are not received by the Master Servicer within 30 days of the Master Servicer's request for reimbursement therefor, from the Trust Fund, as provided in Section 9.04.  To the extent the Master Servicer recovers amounts described in (i)-(iii) above subsequent to its reimbursement from the Trust Fund pursuant to (iv) above, then the Master Servicer promptly will reimburse such amounts to the Trust Fund.


 




  





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If the Master Servicer assumes the servicing with respect to any of the Mortgage Loans, it will not assume liability for the representations and warranties of any Servicer it replaces or for the errors or omissions of such Servicer.







(c)           Upon any termination of a Servicer’s rights and powers pursuant to the applicable Servicing Agreement, the Master Servicer shall promptly notify the Trustee, the Securities Administrator and the Rating Agency, specifying in such notice that the Master Servicer or any successor servicer, as the case may be, has succeeded the Servicer under the Servicing Agreement, which notice shall also specify the name and address of any such successor servicer.







Section 9.02                             Assumption of Master Servicing by Trustee.







(a)           In the event the Master Servicer shall for any reason no longer be the Master Servicer (including by reason of any Event of Default under this Agreement), the Trustee shall thereupon, in accordance with the terms of Section 6.14 hereof, assume all of the rights and obligations of such Master Servicer hereunder and under each Servicing Agreement entered into with respect to the Mortgage Loans or shall appoint as successor master servicer a Fannie-Mae or Freddie Mac-approved servicer that is acceptable to the Depositor and the Rating Agency. The Trustee, its designee or any successor master
servicer appointed by the Trustee shall be deemed to have assumed all of the replaced Master Servicer’s interest herein and, with respect to each Servicing Agreement, shall be deemed to have assumed all of the replaced Master Servicer's interest therein to the same extent as if such Servicing Agreement had been assigned to the assuming party; provided that the replaced Master Servicer shall not thereby be relieved of any liability or obligations of such replaced Master Servicer under such Servicing Agreement accruing prior to its replacement as Master Servicer, and shall be liable to the Trustee or any successor master servicer therefor, and hereby agrees to indemnify and hold harmless the Trustee or any successor master servicer from and against all costs, damages, expenses and liabilities (including reasonable
attorneys’ fees) incurred by the Trustee or any successor master servicer as a result of such liability or obligations of the replaced Master Servicer and in connection with the Trustee’s or such successor master servicer’s assumption (but not its performance, except to the extent that costs or liability of the Trustee or any successor master servicer are created or increased as a result of negligent or wrongful acts or omissions of the replaced Master Servicer prior to its replacement as Master Servicer) of the Master Servicer’s obligations, duties or responsibilities thereunder.







(b)           The replaced Master Servicer shall, upon request of the Trustee but at the expense of such replaced Master Servicer, deliver to the assuming party all documents and records relating to each Servicing Agreement and the related Mortgage Loans and an accounting of amounts collected and held by it, and otherwise use its best efforts to effect the orderly and efficient transfer of each Servicing Agreement to the assuming party.







Section 9.03                             Representations, Warranties and Covenants of the Master Servicer.







(a)           The Master Servicer hereby represents and warrants to the Depositor, the Securities Administrator (to the extent that the Master Servicer and the Securities Administrator are not the same Person) and the Trustee, for the benefit of the Certificateholders, as of the Closing Date that:


    


(i)           it is validly existing and in good standing under the laws of the United States of America as a national banking association, and as Master Servicer has full power and authority to transact any and all business contemplated by this Agreement and to execute, deliver and comply with its obligations under the terms of this Agreement, the execution, delivery and performance of which have been duly authorized by all necessary corporate action on the part of the Master Servicer;







(ii)           the execution and delivery of this Agreement by the Master Servicer and its performance and compliance with the terms of this Agreement will not (A) violate the Master Servicer’s charter or bylaws, (B) violate any law or regulation or any administrative decree or order to which it is subject or (C) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material contract, agreement or other instrument to which the Master 


 




  





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Servicer is a party or by which it is bound or to which any of its assets are subject, which violation, default or breach would materially and adversely affect the Master Servicer’s ability to perform its obligations under this Agreement;







(iii)           this Agreement constitutes, assuming due authorization, execution and delivery hereof by the other respective parties hereto, a legal, valid and binding obligation of the Master Servicer, enforceable against it in accordance with the terms hereof, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights in general, and by general equity principles (regardless of whether such enforcement is considered in a proceeding in equity or at law);







(iv)           the Master Servicer is not in default with respect to any order or decree of any court or any order or regulation of any federal, state, municipal or governmental agency to the extent that any such default would materially and adversely affect its performance hereunder;







(v)           the Master Servicer is not a party to or bound by any agreement or instrument or subject to any charter provision, bylaw or any other corporate restriction or any judgment, order, writ, injunction, decree, law or regulation that may materially and adversely affect its ability as Master Servicer to perform its obligations under this Agreement or that requires the consent of any third person to the execution of this Agreement or the performance by the Master Servicer of its obligations under this Agreement;







(vi)           no litigation is pending or, to the best of the Master Servicer’s knowledge, threatened against the Master Servicer which would prohibit its entering into this Agreement or performing its obligations under this Agreement;







(vii)           the Master Servicer, or an affiliate thereof the primary business of which is the servicing of conventional residential mortgage loans, is a Fannie Mae- or Freddie Mac-approved seller/servicer;


 

 


            (viii)           no consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and performance by the Master Servicer of or compliance by the Master Servicer with this Agreement or the consummation of the transactions contemplated by this Agreement, except such consents, approvals, authorizations and orders (if any) as have been obtained; and







(ix)           the consummation of the transactions contemplated by this Agreement are in the ordinary course of business of the Master Servicer.







(b)           It is understood and agreed that the representations and warranties set forth in this Section shall survive the execution and delivery of this Agreement. In addition to any indemnity required pursuant to Section 6.25 hereof, the Master Servicer shall indemnify the Depositor, the Securities Administrator (to the extent that the Master Servicer and the Securities Administrator are not the same Person) and the Trustee and hold them harmless against any loss, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and other costs and expenses resulting from any claim, demand,
defense or assertion based on or grounded upon, or resulting from, a material breach of the Master Servicer’s representations and warranties contained in Section 9.03(a) or any failure by the Master Servicer to deliver any information, report, certification, accountants’ letter or other material when and as required under this Agreement. It is understood and agreed that the enforcement of the obligation of the Master Servicer set forth in this Section to indemnify the Depositor, the Securities Administrator and the Trustee as provided in this Section 9.03(b) constitutes the sole remedy (other than as set forth in Section 6.14) of the Depositor, the Securities Administrator and the Trustee, respecting a breach of the foregoing representations and warranties. Such indemnification shall survive any termination of the Master Servicer as Master Servicer hereunder, and
any termination of this Agreement.







Any cause of action against the Master Servicer relating to or arising out of the breach of any representations and warranties made in this Section 9.03(b) shall accrue upon discovery of such breach by either the Depositor, the Master Servicer or the Trustee or written notice thereof by any one of such parties to the other parties.


 




  





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The Master Servicer shall not be responsible for the validity, priority, perfection or sufficiency of the security of the Certificates issued or intended to be issued hereunder.







(c)           The Master Servicer covenants and agrees that it shall not hold or purchase any Certificate if its holding or purchase of such Certificate (or interest therein) would cause the Master Servicer to be required to consolidate any assets of the Trust Fund on its financial statements under U.S. generally accepted accounting principles (“Consolidate” or “Consolidation”).  The Master Servicer shall be deemed to have represented by virtue of its purchase or holding of such Certificate (or interest therein) that its holding or purchase of such Certificate (or interest therein)
will not cause the Master Servicer to be required to Consolidate any assets of the Trust on its financial statements.







If the Master Servicer's holding or purchase of a Certificate (or interest therein) does in fact cause such Consolidation, then the last preceding transferee that is not required to Consolidate shall be restored, to the extent permitted by law, to all rights and obligations as owner of such Certificate retroactive to the date of such transfer of such Certificate.  If the Master Servicer holds or purchases a Certificate (or interest therein) in violation of the restrictions in this Section 9.03(c) and to the extent that the retroactive restoration of the rights of the owner of such Certificate as described in the immediately preceding sentence shall be
invalid, illegal or unenforceable, then the Securities Administrator shall have the right, without notice to the owner or any prior owner of such Certificate, to sell such Certificate to a purchaser selected by the Securities Administrator on such terms as the Securities Administrator may choose.  The Master Servicer shall promptly endorse and deliver such Certificate in accordance with the instructions of the Securities Administrator.  The proceeds of such sale, net of the commissions (which may include commissions payable to the Securities Administrator or its affiliates), expenses and taxes due, if any, shall be remitted by the Securities Administrator to the Master Servicer.  The terms and conditions of any sale under this Section 9.03(c) shall be determined in the sole discretion of the Securities Administrator, and the Securities Administrator shall
not be liable to any owner of a Certificate as a result of its exercise of such discretion.  The Master Servicer shall indemnify and hold harmless the Depositor and the Trust Fund from and against any and all losses, liabilities, claims, costs or expenses incurred by such parties as a result of such holding or purchase by the Master Servicer resulting in a Consolidation.







(b)           The Master Servicer covenants and agrees that it shall not transfer its master servicing rights and duties under this Agreement to an insured depository institution, as such term is defined in the Federal Deposit Insurance Act (an “insured depository institution”, and any such insured depository institution in such capacity, a “master servicer transferee”) unless the Master Servicer shall have received a representation from the master servicer transferee that the acquisition of such master servicing rights and duties will not cause the master servicer transferee to be required
to Consolidate any assets of the Trust Fund on its financial statements.  Any master servicer transferee shall be deemed to have represented by virtue of its acquisition of such master servicing rights and duties that such acquisition will not cause Consolidation.  Any master servicer transferee whose acquisition of such master servicing rights and duties was effected in violation of the restrictions in this Section 9.03(b) shall indemnify and hold harmless the Master Servicer, the Depositor and the Trust Fund from and against any and all losses, liabilities, claims, costs or expenses incurred by such parties as a result of such acquisition.







Section 9.04                             Compensation to the Master Servicer.







The Master Servicer shall be entitled to be paid from the Trust Fund, and shall either retain or withdraw from the Distribution Account, (i) its Master Servicing Fee with respect to each Distribution Date, (ii) all amounts necessary to reimburse itself for any previously unreimbursed Advances, Servicer Advances and Nonrecoverable Advances in accordance with the definition of “Available Distribution Amount” and (iii) in accordance with the second paragraph of Section 9.01(b), the cost of any enforcement action taken by it under Section 9.01 hereof, including, without limitation, any costs incurred in connection with the termination of a Servicer,
the appointment of a successor servicer or the transfer and assumption of the servicing by the Master Servicer.  The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.


 




  





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In addition, the Depositor agrees, except as otherwise expressly provided herein, to reimburse the Master Servicer, upon its request, for all reasonable expenses, disbursements and advances incurred or made by the Master Servicer in connection with the performance of its duties hereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel), to the extent not otherwise reimbursed pursuant to this Agreement, except any such expense, disbursement or advance as may be attributable to its willful misfeasance, bad faith or negligence.







Section 9.05                             Merger or Consolidation.







Any Person into which the Master Servicer may be merged or consolidated, or any Person resulting from any merger, conversion, other change in form or consolidation to which the Master Servicer shall be a party, or any Person succeeding to the business of the Master Servicer, shall be the successor to the Master Servicer hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or resulting Person to the Master Servicer or any Affiliate thereof whose primary business is
the servicing of conventional residential mortgage loans shall be a Person that shall be qualified and approved to service mortgage loans for Fannie Mae or Freddie Mac and shall have a net worth of not less than $15,000,000.







Section 9.06                             Resignation of Master Servicer.







Except as otherwise provided in Sections 9.05 and 9.07 hereof, the Master Servicer shall not resign from the obligations and duties hereby imposed on it unless the Master Servicer’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and such conflict cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel that shall be Independent to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee shall have assumed, or a successor master
servicer shall have been appointed by the Trustee and until such successor shall have assumed, the Master Servicer’s responsibilities and obligations under this Agreement. Notice of such resignation shall be given promptly by the Master Servicer and the Depositor to the Trustee.







If, at any time, the Master Servicer resigns under this Section 9.06, or transfers or assigns its rights and obligations under Section 9.07, or is removed as Master Servicer pursuant to Section 6.14, then at such time Wells Fargo Bank, N.A. also shall resign (and shall be entitled to resign) as Securities Administrator, Paying Agent, Authenticating Agent and Certificate Registrar under this Agreement. In such event, the obligations of each such party shall be assumed by the Trustee or such successor master servicer appointed by the Trustee (subject to the provisions of Section 9.02(a)).


     


Section 9.07                             Assignment or Delegation of Duties by the Master Servicer.







Except as expressly provided herein, the Master Servicer shall not assign or transfer any of its rights, benefits or privileges hereunder to any other Person, or delegate to or subcontract with, or authorize or appoint any other Person to perform any of the duties, covenants or obligations to be performed by the Master Servicer hereunder; provided, however, that the Master Servicer shall have the right with the prior written consent of the Trustee and the Depositor (which consent shall not be unreasonably withheld), to delegate or assign to or subcontract with or authorize or appoint any qualified Person to
perform and carry out any duties, covenants or obligations to be performed and carried out by the Master Servicer hereunder.  Notice of such permitted assignment shall be given promptly by the Master Servicer to the Depositor and the Trustee.  If, pursuant to any provision hereof, the duties of the Master Servicer are transferred to a successor master servicer, the entire amount of the Master Servicing Fee and other compensation payable to the Master Servicer pursuant hereto shall thereafter be payable to such successor master servicer. Such successor master servicer shall also pay the fees of the Trustee and the Securities Administrator, as provided herein, and of the Custodian, as provided in the Custodial Agreement.


 




  





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Section 9.08                             Limitation on Liability of the Master Servicer and Others.







Neither the Master Servicer nor any of the directors, officers, employees or agents of the Master Servicer shall be under any liability to the Trustee or the Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Master Servicer or any such person against any liability that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in its performance of its duties or by reason of reckless disregard for its obligations and
duties under this Agreement. The Master Servicer and any director, officer, employee or agent of the Master Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Master Servicer shall be under no obligation to appear in, prosecute or defend any legal action that is not incidental to its duties to master service the Mortgage Loans in accordance with this Agreement and that in its opinion may involve it in any expenses or liability; provided, however, that the Master Servicer may in its sole discretion undertake any such action that it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders hereunder. In such event, the legal
expenses and costs of such action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund and the Master Servicer shall be entitled to be reimbursed therefor out of the Distribution Account.







The Master Servicer shall not be liable for any acts or omissions of any Servicer except to the extent that damages or expenses are incurred as a result of such act or omissions and such damages and expenses would not have been incurred but for the negligence, willful misfeasance, bad faith or recklessness of the Master Servicer in supervising, monitoring and overseeing the obligations of the Servicers under this Agreement.







Section 9.09                             Indemnification; Third-Party Claims.







In addition to any indemnity required pursuant to Section 6.25 hereof, the Master Servicer agrees to indemnify the Depositor, the Securities Administrator (to the extent that the Master Servicer and the Securities Administrator are not the same Person) and the Trustee, and hold them harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, liability, fees and expenses that the Depositor, the Securities Administrator or the Trustee may sustain as a result of the Master Servicer’s willful misfeasance, bad faith or negligence in the performance of its duties hereunder or by reason
of its reckless disregard for its obligations and duties under this Agreement. The Depositor, the Securities Administrator (to the extent that the Master Servicer and the Securities Administrator are not the same Person) and the Trustee shall immediately notify the Master Servicer if a claim is made by a third party with respect to this Agreement or the Mortgage Loans entitling the Depositor, the Securities Administrator (to the extent that the Master Servicer and the Securities Administrator are not the same Person) or the Trustee to indemnification under this Section 9.09, whereupon the Master Servicer shall assume the defense of any such claim and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against it or them in respect of such claim.







Section 9.10                             Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy.







The Master Servicer, at its expense, shall maintain in effect a blanket fidelity bond and an errors and omissions insurance policy, affording coverage with respect to all directors, officers, employees and other Persons acting on such Master Servicer’s behalf, and covering errors and omissions in the performance of the Master Servicer’s obligations hereunder. The errors and omissions insurance policy and the fidelity bond shall be in such form and amount generally acceptable for entities serving as master servicers or trustees.


 




  





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ARTICLE X







REMIC ADMINISTRATION


 


Section 10.01                             REMIC Administration. 


 


(a)           REMIC elections as set forth in the Preliminary Statement to this Agreement shall be made by the Trustee at the direction of the Securities Administrator on Forms 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar year in which the Certificates are issued.  The regular interests and residual interest in each REMIC shall be as designated in the Preliminary Statement to this Agreement.


 


(b)           The Closing Date is hereby designated as the “Startup Day” of each REMIC within the meaning of section 86OG(a)(9) of the Code.  The “latest possible maturity date” for purposes of Treasury Regulation 1.86OG-1(a)(4) will be the Latest Possible Maturity Date.


 


(c)           The Securities Administrator shall represent the Trust Fund in any administrative or judicial proceeding relating to an examination or audit by any governmental taxing authority with respect thereto.  The Securities Administrator shall pay any and all tax-related expenses (not including taxes) of each REMIC, including but not limited to any professional fees or expenses related to audits or any administrative or judicial proceedings with respect to such REMIC that involve the Internal Revenue Service or state tax authorities, but only to the extent that (i) such expenses are ordinary or routine expenses, including expenses of a routine
audit but not expenses of litigation (except as described in (ii)); or (ii) such expenses or liabilities (including taxes and penalties) are attributable to the negligence or willful misconduct of the Securities Administrator in fulfilling its duties hereunder (including its duties as tax return preparer).  The Securities Administrator shall be entitled to reimbursement of expenses to the extent provided in clause (i) above from the Distribution Account; provided, however, the Securities Administrator shall not be entitled to reimbursement for expenses incurred in connection with the preparation of tax returns and other reports required under Section 6.20 and this Section.


 


(d)           The Securities Administrator shall prepare and file, and the Trustee shall sign, as instructed by the Securities Administrator, all of each REMIC’s federal and appropriate state tax and information returns as such REMIC’s direct representative.  The expenses of preparing and filing such returns shall be borne by the Securities Administrator.  In preparing such returns, the Securities Administrator shall, with respect to each REMIC created hereunder other than the Upper-Tier REMIC (each such REMIC, a “Non-Upper-Tier REMIC”):  (i) treat the accrual period for interests in such Non-Upper-Tier REMIC
as the calendar month; (ii) account for distributions made from such Non-Upper-Tier REMIC as made on the first day of each succeeding calendar month; (iii) use the aggregation method provided in Treasury Regulation section 1.1275-2(c); and (iv) account for income and expenses related to such Non-Upper-Tier REMIC in the manner resulting in the lowest amount of excess inclusion income possible accruing to the Holder of the residual interest in such Non-Upper-Tier REMIC.


 


(e)           The Securities Administrator or its designee shall perform on behalf of each REMIC all reporting and other tax compliance duties that are the responsibility of such REMIC under the Code, the REMIC Provisions, or other compliance guidance issued by the Internal Revenue Service or any state or local taxing authority.  Among its other duties, if required by the Code, the REMIC Provisions, or other such guidance, the Securities Administrator shall provide (i) to the Treasury or other governmental authority such information as is necessary for the application of any tax relating to the transfer of a Residual Certificate to any disqualified
person or organization pursuant to Treasury Regulation 1.860E-2(a)(5) and any person designated in Section 860E(e)(3) of the Code and (ii) to the Trustee such information as is necessary for the Trustee to provide to the Certificateholders such information or reports as are required by the Code or REMIC Provisions.


 




  





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(f)           The Trustee, the Securities Administrator, the Master Servicer and the Holders of Certificates shall, to the extent within their knowledge and control, take such actions as may be necessary to maintain the status of each REMIC as a REMIC under the REMIC Provisions and shall assist each other as necessary to maintain such status.  None of the Trustee, the Securities Administrator, the Master Servicer or the Holder of any Residual Certificate shall knowingly take any action, cause any REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may
be, could result in an Adverse REMIC Event unless the Trustee, the Securities Administrator and the Master Servicer have received an Opinion of Counsel (at the expense of the party seeking to take such action or not to take such action) to the effect that the contemplated action (or inaction, as the case may be) will not cause an Adverse REMIC Event.  In addition, prior to taking any action with respect to any REMIC or the assets therein, or causing any REMIC to take any action, which is not expressly permitted under the terms of this Agreement, any Holder of a Residual Certificate will consult with the Trustee, the Securities Administrator, the Master Servicer or their respective designees, in writing, with respect to whether such action could cause an Adverse REMIC Event to occur with respect to any REMIC, and no such Person shall take any such action or cause any REMIC to
take any such action as to which the Trustee, the Securities Administrator or the Master Servicer has advised it in writing that an Adverse REMIC Event could occur; provided, however, that if no Adverse REMIC Event would occur but such action could result in the imposition of additional taxes on the Residual Certificateholders, no such Person shall take any such action, or cause any REMIC to take any such action without the written consent of the other Residual Certificateholders.  The Trustee, the Securities Administrator and the Master Servicer may consult with counsel (and conclusively rely upon the advice of such counsel) to make such written advice, and the cost of the same shall be borne by the party seeking to take the action not expressly permitted by this Agreement, but in no event shall such cost be an expense
of the Trustee, Securities Administrator or the Master Servicer.


 


(g)           Each Holder of a Residual Certificate shall pay when due any and all taxes imposed on the related REMIC by federal or state governmental authorities.  To the extent that such taxes are not paid by a Residual Certificateholder, the Securities Administrator or the Paying Agent shall pay any remaining REMIC taxes out of current or future amounts otherwise distributable to the Holder of the Residual Certificate in any such REMIC or, if no such amounts are available, out of other amounts held in the Distribution Account, and shall reduce amounts otherwise payable to holders of regular interests in any such REMIC, as the case may
be.


 


(h)           The Securities Administrator shall, for federal income tax purposes, maintain books and records with respect to each REMIC on a calendar year and on an accrual basis.


 


(i)           No additional contributions of assets shall be made to any REMIC, except as expressly provided in this Agreement.


 


(j)           None of the Trustee, the Securities Administrator nor the Master Servicer shall enter into any arrangement by which any REMIC will receive a fee or other compensation for services.


 


(k)           The Holder (or, if there is more than one such Holder, the Holder with the largest Percentage Interest) of the Class LT-R Certificate is hereby designated as “tax matters person” with respect to the Lower-Tier REMIC and the Holder of the Class R Certificate (or, if there is more than one such Holder, the Holder with the largest Percentage Interest) is hereby designated as “tax matters person” with respect to the Upper-Tier REMIC and each such Holder shall be deemed by the acceptance of its Certificate to have appointed the Securities Administrator to act as its agent to perform the duties of the “tax matters
person” for each such REMIC.


 


Section 10.02                             Prohibited Transactions and Activities.


 


None of the Depositor, the Master Servicer or the Trustee shall sell, dispose of, or substitute for any of the Mortgage Loans, except in a disposition pursuant to (i) the foreclosure of a Mortgage Loan, 


 




  





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(ii) the bankruptcy of the Trust Fund, (iii) the termination of each REMIC pursuant to Article VII of this Agreement or (iv) a repurchase of Mortgage Loans pursuant to Article II of this Agreement, nor acquire any assets for any REMIC, nor sell or dispose of any investments in the Distribution Account for gain, nor accept any contributions to any REMIC after the Closing Date, unless it has received an Opinion of Counsel (at the expense of the party causing such sale, disposition, or substitution) that such disposition, acquisition, substitution, or acceptance will not (a) result in an Adverse REMIC Event, (b)  adversely affect the distribution of interest or principal on the Certificates or (c)
result in the encumbrance of the assets transferred or assigned to the Trust Fund (except pursuant to the provisions of this Agreement).


 


Section 10.03                             Indemnification With Respect to Prohibited Transactions or Loss of REMIC Status.


 


Upon the occurrence of an Adverse REMIC Event due to the negligent performance by either the Securities Administrator or the Master Servicer of its duties and obligations set forth herein, the Securities Administrator or the Master Servicer, as applicable, shall indemnify the Certificateholders of the related Residual Certificate against any and all losses, claims, damages, liabilities or expenses (“Losses”) resulting from such negligence; provided, however, that neither the Securities Administrator nor the Master Servicer shall be liable for any such Losses attributable to the action or inaction of the Depositor, the Trustee or the Holder of the
Residual Certificate, nor for any such Losses resulting from misinformation provided by any of the foregoing parties on which the Securities Administrator or the Master Servicer, as applicable, has relied.  Notwithstanding the foregoing, however, in no event shall the Securities Administrator or the Master Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement or under any Servicing Agreement, (2) for any Losses other than arising out of malfeasance, willful misconduct or negligent performance by the Securities Administrator or the Master Servicer, as applicable, of its duties and obligations set forth herein, and (3) for any special or consequential damages to Certificateholders of the related Residual Certificate (in addition
to payment of principal and interest on the Certificates).







Section 10.04                             REO Property.







(a)           Notwithstanding any other provision of this Agreement, the Master Servicer, acting on behalf of the Trustee hereunder, shall not, except to the extent provided in the applicable Servicing Agreement, knowingly permit any Servicer to rent, lease, or otherwise earn income on behalf of any REMIC with respect to any REO Property which might cause an Adverse REMIC Event unless the applicable Servicer has provided to the Trustee and the Securities Administrator an Opinion of Counsel concluding that, under the REMIC Provisions, such action would not result in an Adverse REMIC Event.







(b)           If there is no Controlling Holder under this Agreement, the Depositor shall cause the applicable Servicer (to the extent provided in the related Servicing Agreement) to make reasonable efforts to sell any REO Property for its fair market value. In any event, however, the Depositor shall, or shall cause the applicable Servicer (to the extent provided in the related Servicing Agreement) to, dispose of any REO Property within three years of its acquisition by the Trust Fund unless the Depositor or the applicable Servicer (on behalf of the Trust Fund) has received an extension from the Internal Revenue Service to the effect that, under the REMIC
Provisions and any relevant proposed legislation and under applicable state law, the REMIC may hold REO Property for a longer period without causing an Adverse REMIC Event. If such an extension has been received, then the Depositor, acting on behalf of the Trustee hereunder, shall, or shall cause the applicable Servicer to, continue to attempt to sell the REO Property for its fair market value for such period longer than three years as such extension permits (the “Extended Period”). If such an extension has not been received and the Depositor or the applicable Servicer, acting on behalf of the Trust Fund hereunder, is unable to sell the REO Property within 33 months after its acquisition by the Trust Fund, or if such an extension has been received and the Depositor or the applicable Servicer is unable to sell the REO Property within the period ending three months before
the close of the Extended Period, the Depositor shall cause the applicable Servicer, before the end of the three year period or the Extended Period, as applicable, to (i) purchase such REO Property at a price equal to the REO Property’s fair market 


 




  





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value or (ii) auction the REO Property to the highest bidder (which may be the applicable Servicer) in an auction reasonably designed to produce a fair price prior to the expiration of the three-year period or the Extended Period, as the case may be.


 


 


ARTICLE XI







MISCELLANEOUS PROVISIONS


 


Section 11.01                             Binding Nature of Agreement; Assignment. 


 


This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.


 


Section 11.02                             Entire Agreement. 


 


This Agreement contains the entire agreement and understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof.  The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof.


 


Section 11.03                             Amendment. 


 


(a)           This Agreement may be amended from time to time by written agreement between the Depositor, the Master Servicer, the Securities Administrator and the Trustee, without notice to or the consent of any of the Holders, (i) to cure any ambiguity or mistake, (ii) to cause the provisions herein to conform to or be consistent with or in furtherance of the statements made with respect to the Certificates, the Trust Fund or this Agreement in the Prospectus, or to correct or supplement any provision herein which may be inconsistent with any other provisions herein or with the provisions of any Servicing Agreement, (iii) to make any other provisions with
respect to matters or questions arising under this Agreement, (iv) to add, delete, or amend any provisions to the extent necessary or desirable to comply with any requirements imposed by the Code and the REMIC Provisions or (v) if necessary in order to avoid a violation of any applicable law or regulation.  No such amendment effected pursuant to the preceding sentence shall, as evidenced by an Opinion of Counsel, result in an Adverse REMIC Event, nor shall such amendment effected pursuant to clause (iii) of such sentence adversely affect in any material respect the interests of any Holder.  Prior to entering into any amendment without the consent of Holders pursuant to this paragraph, the Trustee shall be provided with an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that such amendment is permitted under this Agreement and,
with respect to an amendment effected pursuant to clause (v) above, to the effect that such amendment is necessary in order to avoid a violation of such applicable law. 







(b)           This Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Securities Administrator and the Trustee, with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities
Administrator receive an Opinion of Counsel, at the expense of the party requesting the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such 


 




  





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amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates, the related Certificate Owners.


 


(c)           Promptly after the execution of any such amendment, the Trustee shall furnish written notification of the substance of such amendment to each Holder, the Depositor and the Rating Agency.  The Securities Administrator and the Certificate Registrar shall cooperate with the Trustee in connection with the Trustee's obligations under this Section 11.03.


 


(d)           It shall not be necessary for the consent of Holders under this Section 10.03 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof.  The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Holders shall be subject to such reasonable regulations as the Trustee may prescribe.


 


(e)           Notwithstanding anything to the contrary in any Servicing Agreement, the Trustee shall not consent to any amendment of any Servicing Agreement except pursuant to the standards provided in this Section with respect to amendment of this Agreement.  In addition, none of the Trustee, the Master Servicer, the Securities Administrator or the Depositor shall consent to any amendment to any Servicing Agreement unless prior written notice of the substance of such amendment has been delivered to the Rating Agency.


 


(f)           Prior to the execution of any amendment to this Agreement, each of the Trustee and the Securities Administrator shall be entitled to receive and conclusively rely on an Opinion of Counsel (at the expense of the Person seeking such amendment) stating that the execution of such amendment is authorized and permitted by this Agreement.  The Trustee and the Securities Administrator may, but shall not be obligated to, enter into any such amendment which affects the Trustee’s or the Securities Administrator’s own rights, duties or immunities under this Agreement.







Section 11.04                             Voting Rights. 


 


Except to the extent that the consent of all affected Certificateholders is required pursuant to this Agreement, with respect to any provision of this Agreement requiring the consent of Certificateholders representing specified percentages of aggregate outstanding Certificate Principal Amount or Class Notional Amount (or Percentage Interest), Certificates owned by the Depositor, the Master Servicer, the Securities Administrator, the Trustee, any Servicer or any Affiliate thereof are not to be counted so long as such Certificates are owned by the Depositor, the Master Servicer, the Securities Administrator, the Trustee, any Servicer or any Affiliate thereof.


 


Section 11.05                             Provision of Information. 


 


(a)           For so long as any of the Certificates of any Class are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, each of the Depositor, the Master Servicer, the Securities Administrator and the Trustee agree to cooperate with each other to provide to any Certificateholders and to any prospective purchaser of Certificates designated by such holder, upon the request of such holder or prospective purchaser, any information required to be provided to such holder or prospective purchaser to satisfy the condition set forth in Rule 144A(d)(4) under the Securities Act.  Any reasonable, out-of-pocket
expenses incurred by the Trustee, the Master Servicer or the Securities Administrator in providing such information shall be reimbursed by the Depositor.







(b)           The Securities Administrator shall provide to any person to whom a Prospectus was delivered, upon the written request of such person specifying the document or documents requested, (i) a copy (excluding exhibits) of any report on Form 8-K, Form 10-D or Form 10-K (or other prescribed form) filed with the Securities and Exchange Commission pursuant to Section 6.21 and (ii) a copy of any other 


 




  





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document incorporated by reference in the Prospectus.  Any reasonable out-of-pocket expenses incurred by the Securities Administrator in providing copies of such documents shall be reimbursed by the Depositor.


 


(c)          On each Distribution Date, the Securities Administrator shall deliver or cause to be delivered by first class mail or make available on its website to the Depositor, Attention:  Contract Finance, a copy of the report delivered to Certificateholders pursuant to Section 4.02.


 


Section 11.06                             Governing Law. 


 


THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.


 


Section 11.07                             Notices. 


 


(a)           All demands, notices and communications required to be delivered to the Depositor, the Seller, the Trustee, the Master Servicer, the Securities Administrator or the Certificate Registrar hereunder shall be in writing and shall be deemed to have been duly given if (i) personally delivered, (ii) mailed by registered mail, postage prepaid, (iii) delivered by overnight courier, or (iv) transmitted via email, telegraph or facsimile, in each instance at the address listed below, or such other address as may hereafter be furnished by any party to the other parties in writing:







In the case of the Depositor:







Sequoia Residential Funding, Inc.


One Belvedere Place, Suite 330


Mill Valley, CA 94941


Facsimile number (415) 381-1773


Electronic mail address: Sequoia.Notices@redwoodtrust.com


Attention:  Sequoia Mortgage Trust 2011-1







In the case of the Seller:







Redwood Residential Acquisition Corporation


One Belvedere Place, Suite 330


Mill Valley, CA 94941


Facsimile number (415) 381-1773


Electronic mail address: Sequoia.Notices@redwoodtrust.com


Attention:  Sequoia Mortgage Trust 2011-1







In the case of the Master Servicer and the Securities Administrator:







Wells Fargo Bank, N.A.


P.O. Box 98


Columbia, Maryland  21046







(or, for overnight deliveries:


9062 Old Annapolis Road


Columbia, Maryland 21045)







Telephone number:  (410) 884-2000


 




  





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Facsimile number: (410) 715-2380


Electronic mail address:  g=cts-spg-team-a-5@wellsfargo.com


Attention:  Client Manager -- Sequoia Mortgage Trust 2011-1







In the case of the Certificate Registrar:







Wells Fargo Bank, N.A.


Sixth Street and Marquette Avenue


Minneapolis, Minnesota  55479


Facsimile number: 1-866-614-1273


Electronic mail address: g=cts-spg-team-a-5@wellsfargo.com


Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1







In the case of the Trustee:







Citibank, N.A.


388 Greenwich Street, 14th Floor


New York, New York 10013


Attention: Global Transaction Services – Sequoia Mortgage Trust 2011-1


Facsimile number: 212-816-5527







Notwithstanding anything to the contrary herein, any and all communications (both text and attachments) by or from the Trustee that the Trustee in its sole discretion deems to contain confidential, proprietary, and/or sensitive information and sent by electronic mail will be encrypted. The recipient (the “Email Recipient”) of the email communication will be required to complete a one-time registration process. Information and assistance on registering and using the email encryption technology can be found at the Trustee’s Secure website www.citigroup.com/citigroup/citizen/privacy/email.htm or by calling (866) 535-2504 (in the U.S.) or (904) 954-6181 at any time.


 


Any such demand, notice or communication shall be deemed to have been received on the date delivered to the premises of the addressee and (A) if delivered by registered mail, overnight courier, or facsimile, as evidenced by the date noted on a return or confirmation of receipt and (B) if delivered by electronic mail, when sent to the address specified above, provided no error or rejection message has been received by the sender.







(b)           Notices to any Certificateholder shall be deemed to be duly given by any party hereto (i) in the case of any holder of a Definitive Certificate, on the date mailed, first class postage prepaid, to the address of such holder as included on the certificate register, or (ii) in the case of any book-entry certificate, on the date when such notice or communication is delivered to the Clearing Agency, it being understood that the Clearing Agency shall give such notices and communications to the related underlying participants in accordance with its applicable rules, regulations and procedures.







All notices or communications to Certificateholders shall also be posted and made available to all Certificateholders, whether definitive or book-entry, as well as the Depositor, the Master Servicer, the Securities Administrator and the Trustee, by the Securities Administrator on the Securities Administrator website located at www.ctslink.com.  Unless otherwise expressly provided for herein, all notices and communications required to be delivered hereunder shall be delivered to such parties and Certificateholders and posted by the Securities Administrator on the Securities Administrator 's website, in each instance, as soon as reasonably practicable.


 


Section 11.08                             Severability of Provisions. 


 


If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be


 




  





91











  






 


deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof.


 


Section 11.09                             Indulgences; No Waivers. 


 


Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence.  No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.


 


Section 11.10                             Headings Not to Affect Interpretation. 


 


The headings contained in this Agreement are for convenience of reference only, and they shall not be used in the interpretation hereof.


 


Section 11.11                             Benefits of Agreement. 


 


Nothing in this Agreement or in the Certificates, express or implied, shall give to any Person, other than the parties to this Agreement and their successors hereunder and the Holders of the Certificates, any benefit or any legal or equitable right, power, remedy or claim under this Agreement.


 


Section 11.12                             Special Notices to the Rating Agency. 


 


(a)           The Depositor shall give prompt notice to the Rating Agency of the occurrence of any of the following events of which it has notice:


 


(i)           any amendment to this Agreement pursuant to Section 11.03, including prior advance written notice of any amendment to this Agreement pursuant to Section 11.03(a);


 


(ii)           any assignment by the Master Servicer of its rights hereunder or delegation of its duties hereunder;







(iii)           the occurrence of any Event of Default and any waiver of any Event of Default pursuant to Section 6.14;







(iv)           any notice of termination given to the Master Servicer pursuant to Section 6.14 and any resignation of the Master Servicer hereunder;







(v)           the termination of any successor to any Master Servicer pursuant to Section 6.14;


 


(vi)           the making of a final payment pursuant to Section 7.01; and


 


(vii)           any termination of the rights and obligations of a Servicer under any Servicing Agreement and any transfer of servicing under any Servicing Agreement.


 


(b)           All notices to the Rating Agency provided for in this Section shall be in writing and sent by first class mail, telecopy, electronic mail or overnight courier, as follows:







Fitch, Inc.


 




  





92











  




 




One State Street Plaza, 30th Floor


New York, NY  10004


Attn: SEMT 2011-1







(c)           The Securities Administrator shall provide or make available to the Rating Agency reports prepared pursuant to Section 4.02 and the reports filed on Form 10-K pursuant to Section 6.21(b)(i)(1) through (4).  In addition, the Securities Administrator shall, at the expense of the Trust Fund, make available to the Rating Agency such information as the Rating Agency may reasonably request regarding the Certificates or the Trust Fund, to the extent that such information is reasonably available to the Securities Administrator.


 


Section 11.13                             Conflicts. 


 


To the extent that the terms of this Agreement conflict with the terms of any Servicing Agreement, the related Servicing Agreement shall govern.


 


Section 11.14                             Counterparts. 


 


This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same instrument.


 


Section 11.15                             No Petitions.


 


The Trustee and the Master Servicer, by entering into this Agreement, and each Certificateholder, by accepting a Certificate, hereby covenant and agree that they shall not at any time institute against the Depositor, or join in any institution against the Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Certificates, this Agreement or any of the documents entered into by the Depositor in connection with the transactions contemplated by this Agreement.


 




  





93











  




 




IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers hereunto duly authorized as of the day and year first above written.


 


SEQUOIA RESIDENTIAL FUNDING, INC.,


as Depositor


 


 


By: _________________________________


Name:


Title:


 


 


CITIBANK, N.A.,


as Trustee


 


 


By: _________________________________


Name:


Title:


 


WELLS FARGO BANK, N.A.,


as Master Servicer


 


 


By: _________________________________


Name:


Title:







WELLS FARGO BANK, N.A.,


as Securities Administrator


 


 


By: _________________________________


Name:


Title:


 




  





94











  











Solely for purposes of Section 2.04 and Section 2.06(b)


accepted and agreed to by:












REDWOOD RESIDENTIAL ACQUISITION CORPORATION,


as Seller







 


By: ____________________________


       Name:


       Authorized Signatory







Solely for purposes of Section 2.07


accepted and agreed to by:












SEQUOIA MORTGAGE FUNDING CORPORATION,


as Controlling Holder







 


By: ____________________________


       Name:


       Authorized Signatory


 




  





95











  











EXHIBIT A







FORMS OF CERTIFICATES


 




THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.












SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS A-l







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class A-1


Certificates: $273,280,000

	
Initial Certificate


Principal Amount of this


Certificates: $273,280,000


	  	  
	 	 
	
Certificate Interest Rate: Adjustable

	
Cut-off Date: February 1, 2011


	
 


 


Final Scheduled Distribution


Date: February 2041


 


 

	  
	
NUMBER 1

	
CUSIP: 81744R AA9
















  





  











  








THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class A-1 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





2











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





3











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of the Class of A-IO Certificates or any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense of such
Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in retirement
of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





4











  








The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





5











  








On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





6











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
  


 


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.







 




  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 











  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







THIS IS AN INTEREST-ONLY CERTIFICATE THAT IS NOT ENTITLED TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL.  THE CERTIFICATE  NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







THE HOLDER AND ANY TRANSFEREE OF THIS CERTIFICATE WILL BE DEEMED TO HAVE REPRESENTED BY VIRTUE OF ITS PURCHASE OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) THAT EITHER (A) SUCH HOLDER OR TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE OR A PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”), (B)
IT HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION EXEMPTION (“PTE”) 89-90, AS AMENDED, (THE “UNDERWRITER EXEMPTION”), AND THAT IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE UNDERWRITER EXEMPTION INCLUDING THAT THIS CERTIFICATE MUST BE RATED, AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY STANDARD & POOR’S, FITCH, MOODY’S, DBRS LIMITED OR DBRS, INC. OR (C) (I) THE TRANSFEREE IS AN INSURANCE COMPANY, (II) THE SOURCE OF FUNDS USED TO PURCHASE OR HOLD THIS CERTIFICATE IS AN “INSURANCE COMPANY GENERAL ACCOUNT” (AS DEFINED IN U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60), AND (III) THE CONDITIONS SET FORTH IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED (EACH
ENTITY THAT SATISFIES THIS CLAUSE (C), A “COMPLYING INSURANCE COMPANY”).






  





  











  








IF THIS CERTIFICATE (OR ANY INTEREST THEREIN) IS ACQUIRED OR HELD BY ANY PERSON THAT DOES NOT SATISFY THE CONDITIONS DESCRIBED IN THE PRECEDING PARAGRAPH, THEN THE LAST PRECEDING TRANSFEREE THAT EITHER (I) IS NOT A PLAN INVESTOR, (II) ACQUIRED SUCH CERTIFICATE IN COMPLIANCE WITH THE UNDERWRITER EXEMPTION, OR (III) IS A COMPLYING INSURANCE COMPANY SHALL BE RESTORED, TO THE EXTENT PERMITTED BY LAW, TO ALL RIGHTS AND OBLIGATIONS AS CERTIFICATE OWNER THEREOF RETROACTIVE TO THE DATE OF SUCH TRANSFER OF THIS CERTIFICATE. THE TRUSTEE SHALL BE UNDER NO LIABILITY TO ANY PERSON FOR MAKING ANY PAYMENTS DUE ON THIS CERTIFICATE TO SUCH PRECEDING TRANSFEREE.







ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.

















SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS A-IO







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Notional


Amount of the Class A-IO


Certificates: $273,280,000


 


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Notional Amount of this


Certificates: $273,280,000


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


 


CUSIP: 81744R AB7
















  





2











  








THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class A-IO Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





3











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





4











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





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On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





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ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.





















  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 











  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







THIS CERTIFICATE IS SUBORDINATE IN RIGHT OF PAYMENT AS DESCRIBED IN THE POOLING AGREEMENT REFERRED TO HEREIN.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







THE HOLDER AND ANY TRANSFEREE OF THIS CERTIFICATE WILL BE DEEMED TO HAVE REPRESENTED BY VIRTUE OF ITS PURCHASE OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) THAT EITHER (A) SUCH HOLDER OR TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE OR A PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”), (B)
IT HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION EXEMPTION (“PTE”) 89-90, AS AMENDED, (THE “UNDERWRITER EXEMPTION”), AND THAT IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE UNDERWRITER EXEMPTION INCLUDING THAT THIS CERTIFICATE MUST BE RATED, AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY STANDARD & POOR’S, FITCH, MOODY’S, DBRS LIMITED OR DBRS, INC. OR (C) (I) THE TRANSFEREE IS AN INSURANCE COMPANY, (II) THE SOURCE OF FUNDS USED TO PURCHASE OR HOLD THIS CERTIFICATE IS AN “INSURANCE COMPANY GENERAL ACCOUNT” (AS DEFINED IN U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60), AND (III) THE CONDITIONS SET FORTH IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED (EACH
ENTITY THAT SATISFIES THIS CLAUSE (C), A “COMPLYING INSURANCE COMPANY”).






  





  











  








IF THIS CERTIFICATE (OR ANY INTEREST THEREIN) IS ACQUIRED OR HELD BY ANY PERSON THAT DOES NOT SATISFY THE CONDITIONS DESCRIBED IN THE PRECEDING PARAGRAPH, THEN THE LAST PRECEDING TRANSFEREE THAT EITHER (I) IS NOT A PLAN INVESTOR, (II) ACQUIRED SUCH CERTIFICATE IN COMPLIANCE WITH THE UNDERWRITER EXEMPTION, OR (III) IS A COMPLYING INSURANCE COMPANY SHALL BE RESTORED, TO THE EXTENT PERMITTED BY LAW, TO ALL RIGHTS AND OBLIGATIONS AS CERTIFICATE OWNER THEREOF RETROACTIVE TO THE DATE OF SUCH TRANSFER OF THIS CERTIFICATE. THE TRUSTEE SHALL BE UNDER NO LIABILITY TO ANY PERSON FOR MAKING ANY PAYMENTS DUE ON THIS CERTIFICATE TO SUCH PRECEDING TRANSFEREE.







ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.












SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS B-l







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class B-1


Certificates: $7,385,000


 


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Principal Amount of this


Certificates: $7,385,000


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


 


CUSIP: 81744R AC5
















  





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THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class B-1 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





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IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





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On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





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ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 











  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







THIS CERTIFICATE IS SUBORDINATE IN RIGHT OF PAYMENT AS DESCRIBED IN THE POOLING AGREEMENT REFERRED TO HEREIN.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.






  





  











  








ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.












SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS B-2







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class B-2


Certificates: $5,171,000


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Principal Amount of this


Certificates: $5,171,000


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AD3


























  





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THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class B-2 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





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IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request, made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in the request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





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On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





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ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 











  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







THIS CERTIFICATE IS SUBORDINATE IN RIGHT OF PAYMENT AS DESCRIBED IN THE POOLING AGREEMENT REFERRED TO HEREIN.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.







THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT, (B) TO PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE 1933 ACT THAT IS ACQUIRING THE CERTIFICATE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL "ACCREDITED INVESTOR," FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION VIOLATION OF THE 1933 ACT, SUBJECT TO THE CERTIFICATE REGISTRAR'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF A CERTIFICATE OF TRANSFER IN THE FORM APPEARING IN THE POOLING AGREEMENT.






  





  











  








NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.







ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.
















  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS B-3







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class B-3


Certificates: $3,693,000


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Principal Amount of this


Certificates: $3,693,000


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AE1


























  





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THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class B-3 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





4











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





7











  








On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





8











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.







 




  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 


























  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







THIS CERTIFICATE IS SUBORDINATE IN RIGHT OF PAYMENT AS DESCRIBED IN THE POOLING AGREEMENT REFERRED TO HEREIN.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.







THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT, (B) TO PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE 1933 ACT THAT IS ACQUIRING THE CERTIFICATE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL "ACCREDITED INVESTOR," FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION VIOLATION OF THE 1933 ACT, SUBJECT TO THE CERTIFICATE REGISTRAR'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF A CERTIFICATE OF TRANSFER IN THE FORM APPEARING IN THE POOLING AGREEMENT.






  





  











  








NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.







ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.
















  





2











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS B-4







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class B-4


Certificates: $2,215,000


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Principal Amount of this


Certificates: $2,215,000


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AF8


























  





3











  








THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class B-4 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





4











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





5











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





6











  








The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





7











  








On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





8











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 





















  





  











  








THIS CERTIFICATE IS A REMIC REGULAR INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE MAY BE MADE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE CERTIFICATE PRINCIPAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.







THIS CERTIFICATE IS SUBORDINATE IN RIGHT OF PAYMENT AS DESCRIBED IN THE POOLING AGREEMENT REFERRED TO HEREIN.







UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.







THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.







THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT, (B) TO PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE 1933 ACT THAT IS ACQUIRING THE CERTIFICATE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL "ACCREDITED INVESTOR," FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION VIOLATION OF THE 1933 ACT, SUBJECT TO THE CERTIFICATE REGISTRAR'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF A CERTIFICATE OF TRANSFER IN THE FORM APPEARING IN THE POOLING AGREEMENT.






  





  











  








NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.







ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST THEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 3.03 OF THE AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE CERTIFICATE REGISTRAR, THE DEPOSITOR, THE TRUSTEE AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING.
















  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS B-5







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class Principal


Amount of the Class B-5


Certificates: $3,693,297


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Principal Amount of this


Certificates: $3,693,297


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AG6


























  





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THIS CERTIFIES THAT CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the initial Certificate Principal Amount of this Certificate by the initial Class Principal Amount of all Class B-5 Certificates, both as specified above) in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies
relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





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IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





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On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





8











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 






  





  











  








THIS CERTIFICATE IS A REMIC RESIDUAL INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.







THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT, (B) TO PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE 1933 ACT THAT IS ACQUIRING THE CERTIFICATE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL "ACCREDITED INVESTOR," FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION VIOLATION OF THE 1933 ACT, SUBJECT TO THE CERTIFICATE REGISTRAR'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF A CERTIFICATE OF TRANSFER IN THE FORM APPEARING IN THE POOLING AGREEMENT.







ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE DEPOSITOR AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION 1381(a)(2)(C) OF THE CODE, (D) AN ELECTING LARGE-PARTNERSHIP
WITHIN THE MEANING OF SECTION 775 OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B), (C) OR (D) BEING HEREINAFTER REFERRED TO AS A “DISQUALIFIED ORGANIZATION”), OR (E) AN AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO PURPOSE OF SUCH TRANSFER IS TO ENABLE THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX. SUCH AFFIDAVIT SHALL INCLUDE CERTAIN REPRESENTATIONS AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND ITS STATUS AS A NON-US PERSON (IF APPLICABLE). NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CLASS R CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER,
INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THE CLASS R CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.






  





  











  








NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.
















  





2











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS R







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class


Amount of the Class R


Certificates: $50


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Amount of this


Certificates: $50


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AH4


























  





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THIS CERTIFIES THAT RWT HOLDINGS, INC., is the registered owner of the Percentage Interest evidenced by this Certificate in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured
a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





4











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





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SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





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The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





7











  








On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





8











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 











  





  











  








THIS CERTIFICATE IS A REMIC RESIDUAL INTEREST CERTIFICATE. THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST IN, AND IS NOT GUARANTEED BY, THE DEPOSITOR, THE TRUSTEE, THE SECURITIES ADMINISTRATOR, THE MASTER SERVICER OR ANY AFFILIATE OF ANY OF THEM AND IS NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR PRIVATE INSURER.







THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.







THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT, (B) TO PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (C) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE 1933 ACT THAT IS ACQUIRING THE CERTIFICATE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL "ACCREDITED INVESTOR," FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION VIOLATION OF THE 1933 ACT, SUBJECT TO THE CERTIFICATE REGISTRAR'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER TO REQUIRE THE DELIVERY OF A CERTIFICATE OF TRANSFER IN THE FORM APPEARING IN THE POOLING AGREEMENT.







ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE DEPOSITOR AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT EITHER (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION 1381(a)(2)(C) OF THE CODE, (D) AN ELECTING LARGE-PARTNERSHIP
WITHIN THE MEANING OF SECTION 775 OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B), (C) OR (D) BEING HEREINAFTER REFERRED TO AS A “DISQUALIFIED ORGANIZATION”), OR (E) AN AGENT OF A DISQUALIFIED ORGANIZATION AND (2) NO PURPOSE OF SUCH TRANSFER IS TO ENABLE THE TRANSFEROR TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX. SUCH AFFIDAVIT SHALL INCLUDE CERTAIN REPRESENTATIONS AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND ITS STATUS AS A NON-US PERSON (IF APPLICABLE). NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CLASS LT-R CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER,
INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THE CLASS LT-R CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.






  





  











  








NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE, OR ANY PERSON (INCLUDING AN INSURANCE COMPANY INVESTING ITS GENERAL ACCOUNT, AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY SUCH PLAN) WHO IS USING “PLAN ASSETS” OF ANY SUCH PLAN TO EFFECT SUCH ACQUISITION (EACH OF THE FOREGOING, A “PLAN INVESTOR”) UNLESS THE CERTIFICATE REGISTRAR IS PROVIDED WITH EITHER (I) A CERTIFICATION PURSUANT TO SECTION 3.03(d)(i) OF THE AGREEMENT OR (II) AN
OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR TO THE EFFECT THAT THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT ENACTMENTS), AND WILL NOT SUBJECT THE CERTIFICATE REGISTRAR, THE TRUSTEE  OR THE DEPOSITOR  TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE TRUST FUND, THE CERTIFICATE REGISTRAR, THE TRUSTEE OR THE DEPOSITOR.  EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL BE
FURTHER DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH ERISA-RESTRICTED CERTIFICATE IN VIOLATION OF THE FOREGOING.
















  





2











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATES, CLASS LT-R







Evidencing a beneficial interest in a pool of residential mortgage loans and any other assets established by







SEQUOIA RESIDENTIAL FUNDING, INC.








	
Initial Class


Amount of the Class LT-R


Certificates: $50


 


Certificate Interest Rate: Adjustable


 


 


Final Scheduled Distribution


Date: February 2041


 


 


NUMBER 1

	
Initial Certificate


Amount of this


Certificates: $50


 


 


Cut-off Date: February 1, 2011


 


 


 


 


 


CUSIP: 81744R AJ0


























  





3











  








THIS CERTIFIES THAT RWT HOLDINGS, INC., is the registered owner of the Percentage Interest evidenced by this Certificate in a Trust Fund, the assets of which consist of the Mortgage Loans and all interest and principal received thereon after the Cut-off Date (other than Scheduled Payments due on or prior to the Cut-off Date), the rights of the Seller and the Depositor assigned to the Trustee under each Servicing Agreement and the Mortgage Loan Purchase and Sale Agreement, the Insurance Policies relating to the Mortgage Loans, all cash, instruments or property held or required to be held in the Custodial Accounts and the Distribution Account and property that secured
a Mortgage Loan; and certain other assets, if any, as described in the Pooling Agreement (the foregoing assets hereinafter collectively referred to as the “Trust Fund”).







Distributions on this Certificate will be made on the 25th day of each month or, if such day is not a Business Day, then on the succeeding Business Day, commencing in March 2011 (each, a “Distribution Date”), to the Person in whose name this Certificate is registered at the close of business on the last Business Day preceding such Distribution Date (the “Record Date”), in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount, if any, required to be distributed to all Certificates of the Class represented by this Certificate. All sums distributable on this Certificate are payable in the coin or
currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts.







Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Certificate.







Unless the certificate of authentication hereon has been executed by or on behalf of the Authenticating Agent, whose name appears below by manual signature, this Certificate shall not be entitled to any benefit under the Pooling Agreement or be valid for any purpose.






  





4











  








IN WITNESS WHEREOF, Citibank, N.A., as Trustee, has caused this Certificate to be duly executed.







CITIBANK, N.A.,


     as Trustee












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________

















CERTIFICATE AUTHENTICATION







This is one of the Certificates referred to in the within-mentioned Pooling Agreement.







WELLS FARGO BANK, N.A.,


       as Authenticating Agent












By:  ___________________________


        AUTHORIZED SIGNATORY







Dated: _________________________











  





5











  








SEQUOIA MORTGAGE TRUST 2011-1


MORTGAGE PASS-THROUGH CERTIFICATE







This Certificate is one of a duly authorized issue of certificates designated as Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates (the “Certificates”), representing all or part of a beneficial ownership interest in a Trust Fund established pursuant to a Pooling Agreement, dated as of February 1, 2011 (the “Pooling Agreement”), among Sequoia Residential Funding, Inc., as depositor (the “Depositor”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”) and Citibank, N.A., as
trustee (the “Trustee”), to which terms, provisions and conditions thereof the Holder of this Certificate by virtue of the acceptance hereof assents, and by which such Holder is bound. Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Pooling Agreement. The Certificates consist of the following Classes: Class A-1, Class R, Class LT-R, Class A-IO, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5.







On each Distribution Date, the Paying Agent, on behalf of the Trustee, will make distributions from the Distribution Account to the Holders of Certificates according to the terms of the Pooling Agreement.  All distributions or allocations made with respect to each Class of Certificates on each Distribution Date shall be allocated among the outstanding Certificates of such Class based on the Certificate Principal Amount (or Notional Amount) of each such Certificate.







Distributions on this Certificate will be made by check mailed to the Holder of record of this Certificate on the immediately preceding Record Date at the address of such Holder as its appears on the Certificate Register or, upon written request made to the Securities Administrator at least five Business Days prior to the related Record Date, by any Certificateholder owning an aggregate initial Certificate Principal Amount of at least $1,000,000 or, in the case of a Class of Interest-Only Certificates and any Residual Certificate, a Percentage Interest of 100%, by wire transfer in immediately available funds to an account specified in such request and at the expense
of such Certificateholder requesting such wire transfer by deducting a wire transfer fee from the related distribution; provided, however, that the final distribution in respect of any Certificate shall be made only upon presentation and surrender of such Certificate at the Corporate Trust Office (as defined below); provided, further, that the foregoing provisions shall not apply to any Certificate as long as such Certificate remains a Book-Entry Certificate, in which case all payments made shall be made through the Clearing Agency and its Clearing Agency Participants.  Notwithstanding such final payment of principal of any of the Certificates, each Residual Certificate will remain outstanding until the termination of the related REMIC or REMICs and the payment in full of all other amounts due with respects to the Residual Certificates and at such time such final payment in
retirement of any Residual Certificate will be made only upon presentation and surrender of such Certificate at the Corporate Trust Office.







The Corporate Trust Office with respect to the presentment and surrender of Certificates for the final distribution thereon is the corporate trust office of the Certificate Registrar at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust Services -- Sequoia Mortgage Trust 2011-1 or at such other address as the Securities Administrator may designate from time to time.






  





6











  








The Pooling Agreement may be amended by the Trustee, the Master Servicer, the Securities Administrator, and the Depositor with the consent of the Holders of not less than 66-2/3% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling Agreement or of modifying in any manner the rights of the Holders; provided, however, that no such amendment shall be made unless the Trustee and the Securities Administrator receive an Opinion of Counsel, at the expense of the party requesting
the change, that such change will not cause an Adverse REMIC Event; and provided further, that no such amendment may (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans which are required to be distributed on any Certificate, without the consent of the Holder of such Certificate or (ii) reduce the aforesaid percentages of Class Principal Amount or Class Notional Amount (or Percentage Interest) of Certificates of each Class, the Holders of which are required to consent to any such amendment without the consent of the Holders of 100% of the Class Principal Amount or Class Notional Amount (or Percentage Interest) of each Class of Certificates affected thereby.  For purposes of this paragraph, references to “Holder” or “Holders” shall be deemed to include, in the case of any Class of Book-Entry Certificates,
the related Certificate Owners.  Any consent by the Holder of this Certificate will be conclusive and binding upon all future Holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not consent is made with respect to such Certificate.  The Pooling Agreement also permits the amendment thereof in certain limited circumstances without the consent of the Holders.







As provided in the Pooling Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate Register upon surrender of this Certificate for registration of transfer at the Corporate Trust Office, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class of authorized denominations evidencing the same initial Certificate Principal Amount (or Notional Amount) will be issued to the
designated transferee or transferees.  As provided in the Pooling Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for new Certificates of the same Class evidencing the same aggregate initial Certificate Principal Amount (or Notional Amount) as requested by the Holder surrendering the same.  No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.







The Class A-1, Class B-1, Class B-2, Class B-3, Class B-4, and Class B-5 Certificates are issuable only in registered form in minimum denominations of $100,000 in initial Certificate Principal Amount and in integral multiples of $1 in excess thereof and will be registered in the name of the nominee of the Clearing Agency, which shall maintain such Certificates through its book-entry facilities.  The Class A-IO Certificate is issuable only in registered form as a single Certificate representing the entire Percentage Interest in that Class and will be registered in the name of the nominee of the Clearing Agency, which shall
maintain such Certificates through its book-entry facilities.  The Class R, and Class LT-R Certificates will each be issued as a single Certificate representing the entire Percentage Interest in that Class and will be maintained in physical form. The Certificates shall remain outstanding until the final Distribution Date for the Certificates.






  





7











  








On any date on which the Aggregate Stated Principal Balance of the Mortgage Loans has declined to less than 20% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, subject to satisfaction of the conditions described in the Pooling Agreement, the Holder of the Class LT-R Certificate may purchase all of the Mortgage Loans from the Trust Fund, thereby causing an early retirement of the Certificates.  If this right is not exercised by the Holder of the Class LT-R Certificate, the Master Servicer will have the option to purchase all of the Mortgage Loans from the Trust Fund on any date on which the Aggregate Stated
Principal Balance of the Mortgage Loans has declined to less than 5% of the initial Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.







In no event will the trust created by the Pooling Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants living at the date of the Pooling Agreement of a certain person named in the Pooling Agreement.







The Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Trustee, the Securities Administrator, the Master Servicer, the Certificate Registrar or any such agent shall be affected by any notice to the contrary.







As provided in the Pooling Agreement, this Certificate and the Pooling Agreement shall be construed in accordance with and governed by the laws of the State of New York without regard to the conflict of laws principles applied in the State of New York.  In the event of any conflict between the provisions of this Certificate and the Pooling Agreement, the Pooling Agreement shall be controlling.
















  





8











  








ASSIGNMENT


 


FOR VALUE RECEIVED, the undersigned hereby sell(s) and assign(s) and transfer(s) unto



	
  


 


	
 


  







(Please print or type name and address, including postal zip code, of assignee and social security number or employer identification number)



	
 


  







the within Certificate stating in the names of the undersigned in the Certificate Register and does hereby irrevocably constitute and appoint



	
 


  







to transfer such Certificate in such Certificate Register.


 


I [we] further direct the Certificate Registrar to issue a new Certificate of the same Class of like principal to the above-named assignee and deliver such Certificate to the following address:



	
 


  


	
 


  


	
 


Dated:  ________________________________

	
 


_______________________________________


	  	
Signature by or on behalf of Assignor


	
_______________________________________

	
_______________________________________


	
Authorized Officer

	
Signature Guaranteed


	  	  
	
_______________________________________

	
_______________________________________


	
Name of Institution

	
NOTICE: The signature(s) of this assignment must correspond with the name(s) on the face of this Certificate without alteration or any change whatsoever.  The signature must be guaranteed by a participant in the Securities Transfer Agents Medallion Program, the New York Stock Exchange Medallion Signature Program or the Stock Exchanges Medallion Program.  Notarized or witnessed signatures are not acceptable as guaranteed signatures.































  





  











  








DISTRIBUTION INSTRUCTIONS


 


The assignee should include the following for the information of the Certificate Registrar.  Distributions shall be made by wire transfer in immediately available funds to


 


_______________________________________________________________________________


 


for the account of ________________________________________________________________


 


 


account number _______________________ or, if mailed by check, to _____________________


 


_______________________________________________________________________________


 


Applicable reports and statements should be mailed to ___________________________________


 


_______________________________________________________________________________


 


This information is provided by _______________________________________________


 


the assignee named above, or ______________________________________ as its agent.


 












 

 






  





  











  








 


EXHIBIT B







FORM OF RESIDUAL CERTIFICATE TRANSFER AFFIDAVIT (TRANSFEREE)


 



	
STATE OF

	
)


	  	
)           ss.:


	
COUNTY OF

	
)







 


[NAME OF OFFICER], _________________ being first duly sworn, deposes and says:


 



	  	
1.

	
That he [she] is [title of officer] ________________________ of [name of Purchaser] _________________________________________ (the “Purchaser”), a _______________________ [description of type of entity] duly organized and existing under the laws of the [State of __________] [United States], on behalf of which he [she] makes this affidavit.







 



	  	
2.

	
That the Purchaser’s Taxpayer Identification Number is [           ].







 



	  	
3.

	
That the Purchaser is not a “disqualified organization” within the meaning of Section 860E(e)(5) of the Internal Revenue Code of 1986, as amended (the “Code”) and will not be a “disqualified organization” as of [date of transfer], and that the Purchaser is not acquiring a Residual Certificate (as defined in the Agreement) for the account of, or as agent (including a broker, nominee, or other middleman) for, any person or entity from which it has not received an affidavit substantially in the form of this affidavit.  For these purposes, a “disqualified organization” means the United States, any state or political subdivision thereof, any foreign government, any
international organization, any agency or instrumentality of any of the foregoing (other than an instrumentality if all of its activities are subject to tax and a majority of its board of directors is not selected by such governmental entity), any cooperative organization furnishing electric energy or providing telephone service to persons in rural areas as described in Code Section 1381(a)(2)(C), any “electing large partnership” within the meaning of Section 775 of the Code, or any organization (other than a farmers’ cooperative described in Code Section 521) that is exempt from federal income tax unless such organization is subject to the tax on unrelated business income imposed by Code Section 511.







 



	  	
4.

	
That the Purchaser either (x) is not, and on __________________ [date of transfer] will not be, an employee benefit plan or other retirement arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Code (“Code”), (collectively, a “Plan”) or a person acting on behalf of any such Plan or investing the assets of any such Plan to acquire a Residual Certificate; or (y) herewith delivers to the Certificate Registrar an opinion of counsel (a “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, the Depositor and the Trustee, and upon which the Certificate Registrar, the Trustee and the
Depositor shall be entitled to rely, to the effect that the purchase or holding of such Residual Certificate by the Investor will not result in any non-exempt prohibited transactions under Title I of ERISA or Section 4975 of the Code and will not subject the Certificate Registrar, the Trustee or the Depositor to any obligation in addition to those undertaken by such entities in the Agreement, which opinion of counsel shall not be an expense of the Trust Fund or any of the above parties.


	 	 	 
	  	
5.

	
That the Purchaser hereby acknowledges that under the terms of the Pooling and 







 




  





B-1











  




 





	 	 	Servicing Agreement, dated as of  February 1, 2011 (the “Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee with respect to Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates, no transfer of the Residual Certificates shall be permitted to be made to any person unless the Certificate Registrar has received a certificate from such transferee containing the representations in paragraphs 3 and 4 hereof.
	 	 	 
	  	
6.

	
That the Purchaser does not hold REMIC residual securities as nominee to facilitate the clearance and settlement of such securities through electronic book-entry changes in accounts of participating organizations (such entity, a “Book-Entry Nominee”).







 



	  	
7.

	
That the Purchaser does not have the intention to impede the assessment or collection of any federal, state or local taxes legally required to be paid with respect to such Residual Certificate.







 



	  	
8.

	
That the Purchaser will not transfer a Residual Certificate to any person or entity (i) as to which the Purchaser has actual knowledge that the requirements set forth in paragraph 3, paragraph 6 or paragraph 10 hereof are not satisfied or that the Purchaser has reason to believe does not satisfy the requirements set forth in paragraph 7 hereof, and (ii) without obtaining from the prospective Purchaser an affidavit substantially in this form and providing to the Certificate Registrar a written statement substantially in the form of Exhibit C to the Agreement.







 



	  	
9.

	
That the Purchaser understands that, as the holder of a Residual Certificate, the Purchaser may incur tax liabilities in excess of any cash flows generated by the interest and that the Purchaser has and expects to have sufficient net worth and/or liquidity to pay in full any tax liabilities attributable to ownership of a Residual Certificate and intends to pay taxes associated with holding such Residual Certificate as they become due.







 



	  	
10.

	
That the Purchaser (i) is not a Non-U.S. Person or (ii) is a Non-U.S. Person that holds a Residual Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective Internal Revenue Service Form W-8ECI (Certificate of Foreign Person’s Claim for Exemption From Withholding on Income Effectively Connected With the Conduct of a Trade or Business in the United States) or successor form at the time and in the manner required by the Code or (iii) is a Non-U.S. Person that has delivered to the transferor, the Depositor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect
that the transfer of such Residual Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of a Residual Certificate will not be disregarded for federal income tax purposes.  “Non-U.S. Person” means an individual, corporation, partnership or other person other than (i) a citizen or resident of the United States; (ii) a corporation, partnership or other entity created or organized in or under the laws of the United States or any state thereof, including for this purpose, the District of Columbia; (iii) an estate that is subject to U.S. federal income tax regardless of the source of its income; (iv) a trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States trustees have authority to control all
substantial decisions of the trust; and, (v) to the extent provided in Treasury regulations, certain trusts in existence on August 20, 1996 that are treated as United States persons prior to such date and elect to continue to be treated as United States persons.







 



	  	
11.

	
The Purchaser will not cause income from the Residual Certificate to be attributable to a foreign permanent establishment or fixed base of the Purchaser or another U.S. taxpayer.







 




  





B-2











  




 





	  	
12.

	
That the Purchaser agrees to such amendments of the Agreement as may be required to further effectuate the restrictions on transfer of any Residual Certificate to such a “disqualified organization,” an agent thereof, a Book-Entry Nominee, or a person that does not satisfy the requirements of paragraph 7 and paragraph 10 hereof.







 



	  	
13.

	
That the Purchaser consents to the designation of the Securities Administrator to act as agent for the “tax matters person” of each REMIC created by the Trust Fund pursuant to the Agreement.














  





B-3











  




 




IN WITNESS WHEREOF, the Purchaser has caused this instrument to be executed on its behalf, pursuant to authority of its Board of Directors, by its [title of officer] this _____ day of __________ 20__.


 


_________________________________


[name of Purchaser]


 


 


By:______________________________


Name:


Title:


 


Personally appeared before me the above-named [name of officer] ________________, known or proved to me to be the same person who executed the foregoing instrument and to be the [title of officer] _________________ of the Purchaser, and acknowledged to me that he [she] executed the same as his [her] free act and deed and the free act and deed of the Purchaser.


 


Subscribed and sworn before me this _____ day of __________ 20__.


 


NOTARY PUBLIC


 


______________________________


 


COUNTY OF_____________________


 


STATE OF______________________


 


My commission expires the _____ day of __________ 20__.


 




  





B-4











  






 


EXHIBIT C







RESIDUAL CERTIFICATE TRANSFER AFFIDAVIT (TRANSFEROR)


 


____________________________


Date


 


Re:           Sequoia Mortgage Trust 2011-1


Mortgage Pass-Through Certificates


 


_______________________ (the “Transferor”) has reviewed the attached affidavit of _____________________________ (the “Transferee”), and has no actual knowledge that such affidavit is not true and has no reason to believe that the information contained in paragraph 7 thereof is not true, and has no reason to believe that the Transferee has the intention to impede the assessment or collection of any federal, state or local taxes legally required to be paid with respect to a Residual Certificate.  In addition, the Transferor has conducted a reasonable investigation at the time of the transfer and found that the Transferee had historically paid its debts as they came due and found no
significant evidence to indicate that the Transferee will not continue to pay its debts as they become due.


 


Very truly yours,


 


_______________________________


Name:


Title:


 




  





C-1











  




 




EXHIBIT D







FORM OF CUSTODIAL AGREEMENT


 


See Exhibit 10.8.


 


 




  





D-1











  






 


EXHIBIT E-1







FORM OF RULE 144A TRANSFER CERTIFICATE


 



	
Re: 

	
Sequoia Mortgage Trust 2011-1







Mortgage Pass-Through Certificates







 


Reference is hereby made to the Pooling and Servicing Agreement, dated as of  February 1, 2011 (the “Pooling and Servicing Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee.  Capitalized terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.


 


This letter relates to $__________ initial Certificate Principal Amount of Class _____ Certificates which are held in the form of Definitive Certificates registered in the name of  ______________ (the “Transferor”). The Transferor has requested a transfer of such Definitive Certificates for Definitive Certificates of such Class registered in the name of [insert name of transferee].


 


In connection with such request, and in respect of such Certificates, the Transferor hereby certifies that such Certificates are being transferred in accordance with (i) the transfer restrictions set forth in the Pooling and Servicing Agreement and the Certificates and (ii) Rule 144A under the Securities Act to a purchaser that the Transferor reasonably believes is a “qualified institutional buyer” within the meaning of Rule 144A purchasing for its own account or for the account of a “qualified institutional buyer,” which purchaser is aware that the sale to it is being made in reliance upon Rule 144A, in a transaction meeting the requirements of Rule 144A and in accordance with any applicable
securities laws of any state of the United States or any other applicable jurisdiction.


 


This certificate and the statements contained herein are made for your benefit and the benefit of the Underwriters, the Depositor and the Certificate Registrar.


 


_____________________________________


[Name of Transferor]


 


 


By:__________________________________


Name:


Title:


 


Dated: ___________, ____


 




  





E-1-1











  






 


EXHIBIT E-2







FORM OF PURCHASER’S LETTER FOR


QUALIFIED INSTITUTIONAL BUYER


 


                               


Date


 


Ladies and Gentlemen:


 


In connection with our proposed purchase of $______________ principal amount of Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates, Class [___] (the “Restricted Certificates”), we confirm that:


 



	
(1)

	
We understand that the Restricted Certificates have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell any Restricted Certificates we will do so only (A) to the Depositor, (B) to “qualified institutional buyers” (within the meaning of Rule 144A under the Securities Act) in accordance with Rule 144A under the Securities Act (“QIBs”), (C) pursuant to the exemption from registration provided by Rule 144 under the Securities Act, or (D) to
an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act that is not a QIB (an “Institutional Accredited Investor”) which, in the case of (B) or (D) above, prior to such transfer, delivers to the Certificate Registrar under the Pooling and Servicing Agreement, dated as of February 1, 2011 (the “Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee, a signed letter in the form of this letter; and we further agree, in the capacities stated above, to provide to any person purchasing any of the Restricted Certificates from us a notice advising such purchaser that resales of the Restricted Certificates are restricted as stated herein.







 



	
(2)

	
We understand that, in connection with any proposed resale of any Restricted Certificates to QIB, we will be required to furnish to the Certificate Registrar a certification from such transferee in the form hereof to confirm that the proposed sale is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. We further understand that the Restricted Certificates purchased by us will bear a legend to the foregoing effect.







 



	
(3)

	
We are acquiring the Restricted Certificates for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Restricted Certificates, and we and any account for which we are acting are each able to bear the economic risk of such investment.







 



	
(4)

	
We are a QIB and we are acquiring the Restricted Certificates purchased by us for our own account or for one or more accounts (each of which is a QIB) as to each of which we exercise sole investment discretion.







 



	
(5)

	
We have received such information as we deem necessary in order to make our investment decision.







 




  





E-2-1











  




 





	
(6)

	
If we are acquiring ERISA-Restricted Certificates, we understand that in accordance with ERISA, the Code and the Underwriter's Exemption, no Plan and no person acting on behalf of such a Plan may acquire such Certificate except in accordance with Section 3.03(d) of the Agreement.







 


Terms used in this letter which are not otherwise defined herein have the respective meanings assigned thereto in the Agreement.


 


 


You are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.


 


Very truly yours,


 


__________________________________


[Purchaser]


 


 


By: ________________________________


Name:


Title:


 




  





E-2-2











  






 


EXHIBIT F







FORM OF PURCHASER’S LETTER FOR


INSTITUTIONAL ACCREDITED INVESTOR


 


                               


Date


 


Ladies and Gentlemen:


 


In connection with our proposed purchase of $______________ principal amount of Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates, Class [___], (the “Restricted Certificates”), we confirm that:


 



	
(1)

	
We understand that the Restricted Certificates have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell any Restricted Certificates we will do so only (A) to the Depositor, (B) to “qualified institutional buyers” (within the meaning of Rule 144A under the Securities Act) in accordance with Rule 144A under the Securities Act (“QIBs”), (C) pursuant to the exemption from registration provided by Rule 144 under the Securities Act, or (D) to
an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act that is not a QIB (an “Institutional Accredited Investor”) which, prior to such transfer, delivers to the Certificate Registrar under the Pooling and Servicing Agreement, dated as of  February 1, 2011 (the “Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator, and Citibank, N.A. as Trustee, a signed letter in the form of this letter; and we further agree, in the capacities stated above, to provide to any person purchasing any of the Restricted Certificates from us a notice advising such purchaser that resales of the Restricted Certificates are restricted as stated herein.







 



	
(2)

	
We understand that, in connection with any proposed resale of any Restricted Certificates to an Institutional Accredited Investor, we will be required to furnish to the Certificate Registrar a certification from such transferee in the form hereof to confirm that the proposed sale is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. We further understand that the Restricted Certificates purchased by us will bear a legend to the foregoing effect.







 



	
(3)

	
We are acquiring the Restricted Certificates for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Restricted Certificates, and we and any account for which we are acting are each able to bear the economic risk of such investment.







 



	
(4)

	
We are an Institutional Accredited Investor and we are acquiring the Restricted Certificates purchased by us for our own account or for one or more accounts (each of which is an Institutional Accredited Investor) as to each of which we exercise sole investment discretion.







 



	
(5)

	
We have received such information as we deem necessary in order to make our investment decision.







 




  





F-1











  




 





	
(6)

	
If we are acquiring ERISA-Restricted Certificates, we understand that in accordance with ERISA, the Code and the Underwriter's Exemption, no Plan and no person acting on behalf of such a Plan may acquire such Certificate except in accordance with Section 3.03(d) of the Agreement.







 


Terms used in this letter which are not otherwise defined herein have the respective meanings assigned thereto in the Agreement.


 


 


You are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby.


 


Very truly yours,


 


__________________________________


[Purchaser]


 


 


By: ________________________________


Name:


Title:


 




  





F-2











  




 




EXHIBIT G







FORM OF ERISA TRANSFER AFFIDAVIT


  



	
STATE OF 


NEW YORK

	
)


	  	
)           ss.:


	
COUNTY OF 


NEW YORK 

	
)







                                                                                                               


The undersigned, being first duly sworn, deposes and says as follows:


 


1.      The undersigned is the ______________________ of ______________ (the “Investor”), a [corporation duly organized] and existing under the laws of __________, on behalf of which he makes this affidavit.


 


2.      The Investor either (x) is not, and on ___________ [date of transfer] will not be, an employee benefit plan or other retirement arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), (collectively, a “Plan”) or a person acting on behalf of any such Plan or investing the assets of any such Plan; (y) if the Certificate has been the subject of an ERISA-Qualifying Underwriting, is an insurance company that is purchasing the Certificate with funds contained in an “insurance company general account” as
defined in Section V(e) of Prohibited Transaction Class Exemption (“PTCE”) 95-60 and the purchase and holding of the Certificate are covered under Sections I and III of PTCE 95-60; or (z) herewith delivers to the Certificate Registrar an opinion of counsel (a “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, the Depositor and the Trustee, and upon which the Certificate Registrar, the Trustee, the Master Servicer, the Depositor and the Securities Administrator shall be entitled to rely, to the effect that the purchase or holding of such Certificate by the Investor will not constitute or result in any non-exempt prohibited transactions under Title I of ERISA or Section 4975 of the Code and will not subject the Certificate Registrar or the Trustee to any obligation in addition to those undertaken by such entities in the Pooling and Servicing
Agreement, dated as of February 1, 2011 (the “Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee, by which opinion of counsel shall not be an expense of the Trust Fund or the above parties.


 


Capitalized terms used but not defined herein have the meanings given in the Agreement.







IN WITNESS WHEREOF, the Investor has caused this instrument to be executed on its behalf, pursuant to proper authority, by its duly authorized officer, duly attested, this ____ day of _______________ 20___.


 


_________________________________


[Investor]


 


 


By: ______________________________


Name:


Title:


 


ATTEST:


 




  





G-1











  












	
STATE OF

	
)


	  	
)           ss.:


	
COUNTY OF

	
)







 







 


Personally appeared before me the above-named ________________, known or proved to me to be the same person who executed the foregoing instrument and to be the ____________________ of the Investor, and acknowledged that he executed the same as his free act and deed and the free act and deed of the Investor.


 


Subscribed and sworn before me this _____ day of _________ 20___.


 


______________________________


NOTARY PUBLIC


 


 


My commission expires the


_____ day of __________ 20___.


 




  





G-2











  






 


EXHIBIT H







LIST OF PURCHASE AND SERVICING AGREEMENTS (THE “SERVICING AGREEMENTS”)


 








	
1.

	
Flow Mortgage Loan Sale and Servicing Agreement, dated as of July 1, 2010, between Redwood Residential Acquisition Corporation (“RRAC”) and First Republic Bank, as modified by the related Acknowledgement.












2.             Mortgage Loan Flow Purchase, Sale & Servicing Agreement, dated as of July 21, 2010, between RRAC and PHH Mortgage Corporation, as modified by the related Acknowledgement.


 




  





H-1











  




 




EXHIBIT I







ADDITIONAL DISCLOSURE NOTIFICATION







Additional Disclosure Notification







Wells Fargo Bank, N.A., as securities administrator


Fax:  443-367-3307


Email:  cts.sec.notifications@wellsfargo.com







Sequoia Residential Funding, Inc.


Fax:  415-381-1773


Email:  Sequoia.Notices@redwoodtrust.com


















	  	
Attn:  Corporate Trust Services- Sequoia Mortgage Trust 2011-1, Mortgage Pass-Through Certificates, Series 2011-1_—SEC REPORT PROCESSING







 


RE:  **Additional Form [10-D][10-K][8-K] Disclosure** Required


 


 


Ladies and Gentlemen:


 


In accordance with Section 6.21[(a)][(b)][(c)] of the Pooling and Servicing Agreement, dated as of February 1, 2011 (the “Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee, with respect to Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificate, the undersigned, as [          ], hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].


 


Description of Additional Form [10-D][10-K][8-K] Disclosure:


 


List of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K] Disclosure:


 


 


 


 


Any inquiries related to this notification should be directed to [                       ], phone number:  [         ]; email address:  [                   ].


 


 


[NAME OF PARTY],


as [role]


 


 


By: _____________________________


Name:


Title:


 




  





I-1











  






 


EXHIBIT J







BACK-UP CERTIFICATE TO FORM 10-K CERTIFICATE







Sequoia Mortgage Trust 2011-1 (the “Trust”)


Mortgage Pass-Through Certificates


 


Re:          The Pooling and Servicing Agreement, dated as of  February 1, 2011 (the “Pooling and Servicing Agreement”), by and among Sequoia Residential Funding, Inc., as Depositor, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator and Citibank, N.A., as Trustee with respect to Sequoia Mortgage Trust 2011-1 Mortgage Pass-Through Certificates.







I, __________________________, the _________________________ of [NAME OF COMPANY] (the “Company”) certify to the Depositor and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:







(1)           I have reviewed the annual report on Form 10-K for the fiscal year [____] (the “Annual Report”), and all reports on Form 10-D required to be filed in respect of period covered by the Annual Report (collectively with the Annual Report, the “Reports”), of the Trust Fund;







(2)           To my knowledge, (a) the Reports, taken as a whole, do 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 with respect to the period covered by the Annual Report, and (b) the Company’s assessment of compliance and related attestation report referred to below, taken as a whole, do 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 with
respect to the period covered by such assessment of compliance and attestation report;







(3)           To my knowledge, the distribution information required to be provided by the Company under the Pooling and Servicing Agreement has been provided to the Securities Administrator for inclusion in the Reports is included in the Reports;







(4)           I am responsible for reviewing the activities performed by the Company under the Pooling and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the assessment of compliance of the Company required by the Pooling and Servicing Agreement, and except as disclosed in the Reports, the Company has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects; and







(5)           The report on assessment of compliance with servicing criteria applicable to the Company for asset-backed securities of the Company and each Subcontractor utilized by the Company and the related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the Annual Report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to the Annual Report.  Any material instances of non-compliance are described in such report and have been disclosed in the Annual Report.







In giving the certifications above, the Company has reasonably relied on information provided to it by the following unaffiliated parties: [names of servicer(s), subservicer(s), custodian(s)]







Date:







By:__________________________







[Signature]


[Title]


 




  





J-1











  




 




EXHIBIT K







SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE







The Assessment of Compliance to be delivered by the parties listed in the table below shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria” for each such party:


 


 



	
Regulation AB


Reference

	
Servicing Criteria

	
Master Servicer

	
Securities Administrator

	
Custodian

	  











	  	
General Servicing Considerations

	  	  	  	  











	
1122(d)(1)(i)

	
Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.

	
X

	
X

	  	  
	
1122(d)(1)(ii)

	
If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.

	
X

	  	  	  
	
1122(d)(1)(iii)

	
Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(1)(iv)

	
A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.

	
X

	  	  	  
	  	
Cash Collection and Administration

	  	  	  	  
	
1122(d)(2)(i)

	
Payments on pool assets are deposited into the appropriate bank collection accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.

	
X

	
X

	  	  
	
1122(d)(2)(ii)

	
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.

	
X

	
X

	  	  
	
1122(d)(2)(iii)

	
Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.

	
X

	  	  	  



 




  





K-1











  




 




	
1122(d)(2)(iv)

	
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of over collateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.

	
X

	
X

	  	  
	
1122(d)(2)(v)

	
Each collection account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.

	
X

	
X

	  	  
	
1122(d)(2)(vi)

	
Unissued checks are safeguarded so as to prevent unauthorized access.

	
X

	  	  	  
	
1122(d)(2)(vii)

	
Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including collection accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.

	
X

	  	  	  





  




	  	  	  	  	  	  
	  	
Investor Remittances and Reporting

	  	  	  	  
	
1122(d)(3)(i)

	
Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the Servicer.

	
X

	  	  	  
	
1122(d)(3)(ii)

	
Amounts due to investors are allocated and remitted in accordance with timeframes, 

	  	
X

	  	  



 




  





K-2











  




 





	 	distribution priority and other terms set forth in the transaction agreements.	 	 	 	 
	
1122(d)(3)(iii)

	
Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements.

	
X

	  	  	  
	
1122(d)(3)(iv)

	
Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.

	
X

	  	  	  
	  	
Pool Asset Administration

	  	  	  	  
	
1122(d)(4)(i)

	
Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.

	  	  	
X

	  
	
1122(d)(4)(ii)

	
Pool assets  and related documents are safeguarded as required by the transaction agreements

	  	  	
X

	  
	
1122(d)(4)(iii)

	
Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(iv)

	
Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(v)

	
The Servicer’s records regarding the pool assets agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(vi)

	
Changes with respect to the terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(vii)

	
Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.

	
N/A

	
N/A

	
N/A

	  








 



	  	  	  	  	  	  





 






  





K-3











  




 





	
1122(d)(4)(viii)

	
Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(ix)

	
Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(x)

	
Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(xi)

	
Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(xii)

	
Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(xiii)

	
Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.

	
N/A

	
N/A

	
N/A

	  
	
1122(d)(4)(xiv)

	
Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.

	
X

	  	  	  
	
1122(d)(4)(xv)

	
Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set 

	
N/A

	
N/A

	
N/A

	  



 








  





K-4











  







 


	 	forth in the transaction agreements.	 	 	 	 



 




 





K-5











 




 






EXHIBIT L







ADDITIONAL FORM 10-D DISCLOSURE


 


 



	
ADDITIONAL FORM 10-D DISCLOSURE


	
Item on Form 10-D

	
Party Responsible


	
Item 1: Distribution and Pool Performance Information

	  
	
Information included in the Distribution Date Statement

	
Master Servicer


Securities Administrator


	
Any information required by 1121 which is NOT included on the Distribution Date Statement

	
Depositor


	
Item 2: Legal Proceedings


 


Any legal proceeding pending against the following entities or their respective property, that is material to Certificateholders, including any proceedings known to be contemplated by governmental authorities:

	  
	
▪ Issuing Entity (Trust Fund)

	
Trustee, Master Servicer, Securities Administrator and Depositor


	
▪ Sponsor (Seller)

	
Seller (if a party to the Pooling and Servicing Agreement) or Depositor


	
▪ Depositor

	
Depositor


	
▪ Trustee

	
Trustee


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Master Servicer

	
Master Servicer


	
▪ Custodian

	
Custodian


	
▪ 1110(b) Originator

	
Depositor


	
▪ Any 1108(a)(2) Servicer (other than the Master Servicer or the Securities Administrator)

	
Servicer (as to itself)


	
▪ Any other party contemplated by 1100(d)(1)

	
Depositor


	
Item 3:  Sale of Securities and Use of Proceeds


 


Information from Item 2(a) of Part II of Form 10-Q:


 


With respect to any sale of securities by the sponsor, depositor or issuing entity, that are backed by the same asset pool or are otherwise issued by the issuing entity, whether or not registered, provide 

	
Depositor





 




  





L-1











  




 




	the sales and use of proceeds information in Item 701 of Regulation S-K.  Pricing information can be omitted if securities were not registered.	 





 


  



	
ADDITIONAL FORM 10-D DISCLOSURE


	
Item on Form 10-D

	
Party Responsible


	
Item 4:  Defaults Upon Senior Securities


 


Information from Item 3 of Part II of Form 10-Q:


 


Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice)

	
Securities Administrator


Trustee


	
Item 5:  Submission of Matters to a Vote of Security Holders


 


Information from Item 4 of Part II of Form 10-Q

	
Securities Administrator


Trustee


	
Item 6:  Significant Obligors of Pool Assets


 


Item 1112(b) – Significant Obligor Financial Information*

	
Depositor


	
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.

	  
	
Item 7:  Significant Enhancement Provider Information


 


Item 1114(b)(2) – Credit Enhancement Provider Financial Information*

	  
	
▪ Determining applicable disclosure threshold

	
Depositor


	
▪ Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

	
Depositor


 


	
Item 1115(b) – Derivative Counterparty Financial Information*

	  
	
▪ Determining current maximum probable exposure

	
Depositor


	
▪ Determining current significance percentage

	
Depositor


	
▪ Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

	
Depositor


 


	
*This information need only be reported on the 

	  



 




  





L-2











  




 




	Form 10-D for the distribution period in which updated information is required pursuant to the Items.	 





 


 



	
ADDITIONAL FORM 10-D DISCLOSURE


	
Item on Form 10-D

	
Party Responsible


	
Item 8:  Other Information


 


Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported

	
Any party responsible for the applicable Form 8-K Disclosure item


	
Item 9:  Exhibits

	  
	
Distribution Date Statement to Certificateholders

	
Securities Administrator


	
Exhibits required by Item 601 of Regulation S-K, such as material agreements

	
Depositor







 




  





L-3











  




 




EXHIBIT M







ADDITIONAL FORM 10-K DISCLOSURE


 



	
ADDITIONAL FORM 10-K DISCLOSURE


	
Item on Form 10-K

	
Party Responsible


	
Item 1B: Unresolved Staff Comments

	
Depositor


	
Item 9B:  Other Information


Disclose any information required to be reported on Form 8-K during the fourth quarter covered by the Form 10-K but not reported

	
Any party responsible for disclosure items on Form 8-K


	
Item 15:  Exhibits, Financial Statement Schedules

	
Securities Administrator


Depositor


	
Reg AB Item 1112(b):  Significant Obligors of Pool Assets

	  
	
Significant Obligor Financial Information*

	
Depositor


	
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.

	  
	
Reg AB Item 1114(b)(2):  Credit Enhancement Provider Financial Information

	  
	
▪ Determining applicable disclosure threshold

	
Depositor


	
▪ Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

	
Depositor


 


	
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.

	  
	
Reg AB Item 1115(b):  Derivative Counterparty Financial Information

	  
	
▪ Determining current maximum probable exposure

	
Depositor


	
▪ Determining current significance percentage

	
Depositor


	
▪ Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

	
Depositor


	
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.

	  





 




  





M-1











  






 



	
ADDITIONAL FORM 10-K DISCLOSURE


	
Item on Form 10-K

	
Party Responsible


	
Reg AB Item 1117: Legal Proceedings


 


Any legal proceeding pending against the following entities or their respective property, that is material to Certificateholders, including any proceedings known to be contemplated by governmental authorities:

	  
	
▪ Issuing Entity (Trust Fund)

	
Trustee, Master Servicer, Securities Administrator and Depositor


	
▪ Sponsor (Seller)

	
Seller (if a party to the Pooling and Servicing Agreement) or Depositor


	
▪ Depositor

	
Depositor


	
▪ Trustee

	
Trustee


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Master Servicer

	
Master Servicer


	
▪ Custodian

	
Custodian


	
▪ 1110(b) Originator

	
Depositor


	
▪ Any 1108(a)(2) Servicer (other than the Master Servicer or the Securities Administrator)

	
Servicer (as to itself)


	
▪ Any other party contemplated by 1100(d)(1)

	
Depositor


	
Reg AB Item 1119:  Affiliations and Relationships

	  
	
Whether (a) the Sponsor (Seller), Depositor or Issuing Entity is an affiliate of the following parties, and (b) to the extent known and material, any of the following parties are affiliated with one another:

	
Depositor as to (a)


Sponsor/Seller as to (b)


	
▪ Master Servicer

	
Master Servicer


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Trustee

	
Depositor/Sponsor as to (a)


Trustee as to (b)


	
▪ Any other 1108(a)(3) servicer

	
Servicer (as to itself)


	
▪ Any 1110 Originator

	
Depositor/Sponsor


	
▪ Any 1112(b) Significant Obligor

	
Depositor/Sponsor


	
▪ Any 1114 Credit Enhancement Provider

	
Depositor/Sponsor





 




  





M-2











  




 




	
▪ Any 1115 Derivative Counterparty Provider

	
Depositor/Sponsor


	
▪ Any other 1101(d)(1) material party

	
Depositor/Sponsor







 


 








	
ADDITIONAL FORM 10-K DISCLOSURE


	
Item on Form 10-K

	
Party Responsible


	
Whether there are any “outside the ordinary course business arrangements” other than would be obtained in an arm’s length transaction between (a) the Sponsor (Seller), Depositor or Issuing Entity on the one hand, and (b) any of the following parties (or their affiliates) on the other hand, that exist currently or within the past two years and that are material to a Certificateholder’s understanding of the Certificates:

	
Depositor as to (a)


Sponsor/Seller as to (b)


	
▪ Master Servicer

	
Master Servicer


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Trustee

	
Depositor/Sponsor


	
▪ Any other 1108(a)(3) servicer

	
Servicer (as to itself)


	
▪ Any 1110 Originator

	
Depositor/Sponsor


	
▪ Any 1112(b) Significant Obligor

	
Depositor/Sponsor


	
▪ Any 1114 Credit Enhancement Provider

	
Depositor/Sponsor


	
▪ Any 1115 Derivative Counterparty Provider

	
Depositor/Sponsor


	
▪ Any other 1101(d)(1) material party

	
Depositor/Sponsor


	
Whether there are any specific relationships involving the transaction or the pool assets between (a) the Sponsor (Seller), Depositor or Issuing Entity on the one hand, and (b) any of the following parties (or their affiliates) on the other hand, that exist currently or within the past two years and that are material:

	
Depositor as to (a)


Sponsor/Seller as to (b)


	
▪ Master Servicer

	
Master Servicer


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Trustee

	
Depositor/Sponsor


	
▪ Any other 1108(a)(3) servicer

	
Servicer (as to itself)


	
▪ Any 1110 Originator

	
Depositor/Sponsor


	
▪ Any 1112(b) Significant Obligor

	
Depositor/Sponsor





 




  





M-3











  




 




	
▪ Any 1114 Credit Enhancement Provider

	
Depositor/Sponsor


	
▪ Any 1115 Derivative Counterparty Provider

	
Depositor/Sponsor


	
▪ Any other 1101(d)(1) material party

	
Depositor/Sponsor














  





M-4











  




 




EXHIBIT N







ADDITIONAL FORM 8-K DISCLOSURE


 



	
FORM 8-K DISCLOSURE INFORMATION


	
Item on Form 8-K

	
Party Responsible


	
Item 1.01- Entry into a Material Definitive Agreement


 


Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party.


 


Examples: servicing agreement, custody agreement.


 


Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus

	
All parties (as to themselves)


	
Item 1.02- Termination of a Material Definitive Agreement


 


Disclosure is required regarding termination of  any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party.


 


Examples: servicing agreement, custody agreement.

	
All parties (as to themselves)


	
Item 1.03- Bankruptcy or Receivership


 


Disclosure is required regarding the bankruptcy or receivership, with respect to any of the following:

	
Depositor


	
▪ Sponsor (Seller)

	
Depositor/Sponsor (Seller)


	
▪ Depositor

	
Depositor


	
▪ Master Servicer

	
Master Servicer


	
▪ Affiliated Servicer

	
Servicer (as to itself)


	
▪ Other Servicer servicing 20% or more of the pool assets at the time of the report

	
Servicer (as to itself)


	
▪ Other material servicers

	
Servicer (as to itself)


	
▪ Trustee

	
Trustee


	
▪ Securities Administrator

	
Securities Administrator


	
▪ Significant Obligor

	
Depositor







 




  





N-1











  






 



	
FORM 8-K DISCLOSURE INFORMATION


	
Item on Form 8-K

	
Party Responsible


	
▪ Credit Enhancer (10% or more)

	
Depositor


	
▪ Derivative Counterparty

	
Depositor


	
▪ Custodian

	
Custodian


	
Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement


 


Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.


 


Disclosure will be made of events other than waterfall triggers which are disclosed in the Distribution Date Statements to the certificateholders.

	
Depositor


Master Servicer


Securities Administrator


	
Item 3.03- Material Modification to Rights of Security Holders


 


Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement.

	
Securities Administrator


Depositor


	
Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year


 


Disclosure is required of any amendment “to the governing documents of the issuing entity”.

	
Depositor


	
Item 6.01- ABS Informational and Computational Material

	
Depositor


	
Item 6.02- Change of Servicer or Securities Administrator


 


Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other servicer servicing 10% or more of pool assets at time of report, other material servicers or trustee.

	
Master Servicer/Securities Administrator/Depositor/


Servicer (as to itself)/Trustee


	
Reg AB disclosure about any new servicer or master servicer is also required.

	
Servicer (as to itself)/Master Servicer/Depositor


	
Reg AB disclosure about any new Trustee is also

	
Depositor/Securities Administrator







 




  





N-2











  






 



	required.	 





 


 



	
FORM 8-K DISCLOSURE INFORMATION


	
Item on Form 8-K

	
Party Responsible


	
Item 6.03- Change in Credit Enhancement or External Support


 


Covers termination of any enhancement in manner other than by its terms, the addition of an enhancement, or a material change in the enhancement provided.  Applies to external credit enhancements as well as derivatives.

	
Depositor/Securities Administrator


	
Reg AB disclosure about any new enhancement provider is also required.

	
Depositor


	
Item 6.04- Failure to Make a Required Distribution

	
Securities Administrator


	
Item 6.05- Securities Act Updating Disclosure


 


If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.

	
Depositor


	
If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.

	
Depositor


	
Item 7.01- Reg FD Disclosure

	
All parties (as to themselves)


	
Item 8.01- Other Events


 


Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to certificateholders.

	
Depositor


	
Item 9.01- Financial Statements and Exhibits

	
Responsible party for reporting/disclosing the financial statement or exhibit














  





N-3











  




 




SCHEDULE A







MORTGAGE LOAN SCHEDULE


 



 







	  	
1

	
2

	
3

	
4

	
5

	
6

	  	
8

	
9

	
10


	
KEY

	
Primary Servicer

	
Servicing Fee %

	
Servicing Fee—Flatdollar

	
Servicing Advance Methodology

	
Originator

	
Loan Group

	
Issuance Loan Number

	
Amortization Type

	
Lien Position

	
HELOC Indicator


	
1

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000149

	
1

	
1

	
0


	
2

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000048

	
1

	
1

	
0


	
3

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000067

	
1

	
1

	
0


	
4

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000096

	
1

	
1

	
0


	
5

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000103

	
1

	
1

	
0


	
6

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000104

	
1

	
1

	
0


	
7

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000115

	
1

	
1

	
0


	
8

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000138

	
1

	
1

	
0


	
9

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000165

	
1

	
1

	
0


	
10

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000175

	
1

	
1

	
0


	
11

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000190

	
1

	
1

	
0


	
12

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000194

	
1

	
1

	
0


	
13

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000229

	
1

	
1

	
0


	
14

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000243

	
1

	
1

	
0


	
15

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000264

	
1

	
1

	
0


	
16

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000267

	
1

	
1

	
0


	
17

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000276

	
1

	
1

	
0


	
18

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000293

	
1

	
1

	
0


	
19

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000332

	
1

	
1

	
0


	
20

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000323

	
1

	
1

	
0


	
21

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000349

	
1

	
1

	
0


	
22

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000373

	
1

	
1

	
0


	
23

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000387

	
1

	
1

	
0


	
24

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000392

	
1

	
1

	
0


	
25

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000403

	
1

	
1

	
0


	
26

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000414

	
1

	
1

	
0


	
27

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000166

	
1

	
1

	
0


	
28

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000311

	
1

	
1

	
0


	
29

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000315

	
1

	
1

	
0


	
30

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000402

	
1

	
1

	
0


	
31

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000001

	
1

	
1

	
0


	
32

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000002

	
1

	
1

	
0


	
33

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000002

	
1

	
1

	
0


	
34

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000017

	
1

	
1

	
0


	
35

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000021

	
1

	
1

	
0


	
36

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000031

	
1

	
1

	
0


	
37

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000029

	
1

	
1

	
0


	
38

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000038

	
1

	
1

	
0


	
39

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000043

	
1

	
1

	
0


	
40

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000044

	
1

	
1

	
0


	
41

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000046

	
1

	
1

	
0


	
42

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000049

	
1

	
1

	
0


	
43

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000053

	
1

	
1

	
0


	
44

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000059

	
1

	
1

	
0


	
45

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000244

	
1

	
1

	
0


	
46

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000071

	
1

	
1

	
0


	
47

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000072

	
1

	
1

	
0


	
48

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000074

	
1

	
1

	
0


	
49

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000079

	
1

	
1

	
0


	
50

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000082

	
1

	
1

	
0


	
51

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000085

	
1

	
1

	
0


	
52

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000088

	
1

	
1

	
0


	
53

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000091

	
1

	
1

	
0


	
54

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000135

	
1

	
1

	
0


	
55

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000106

	
1

	
1

	
0


	
56

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000140

	
1

	
1

	
0


	
57

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000125

	
1

	
1

	
0


	
58

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000415

	
1

	
1

	
0


	
59

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000144

	
1

	
1

	
0


	
60

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000133

	
1

	
1

	
0


	
61

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000003

	
1

	
1

	
0


	
62

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000004

	
1

	
1

	
0


	
63

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000005

	
1

	
1

	
0


	
64

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000155

	
1

	
1

	
0


	
65

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000157

	
1

	
1

	
0


	
66

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000006

	
1

	
1

	
0


	
67

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000007

	
1

	
1

	
0


	
68

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000177

	
1

	
1

	
0


	
69

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000008

	
1

	
1

	
0


	
70

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000269

	
1

	
1

	
0


	
71

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000185

	
1

	
1

	
0


	
72

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000195

	
1

	
1

	
0


	
73

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000024

	
1

	
1

	
0


	
74

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000029

	
1

	
1

	
0


	
75

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000009

	
1

	
1

	
0


	
76

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000025

	
1

	
1

	
0


	
77

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000324

	
1

	
1

	
0


	
78

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000010

	
1

	
1

	
0


	
79

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000011

	
1

	
1

	
0


	
80

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000214

	
1

	
1

	
0


	
81

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000012

	
1

	
1

	
0


	
82

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000013

	
1

	
1

	
0


	
83

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000231

	
1

	
1

	
0


	
84

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000014

	
1

	
1

	
0


	
85

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000223

	
1

	
1

	
0


	
86

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000242

	
1

	
1

	
0


	
87

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000313

	
1

	
1

	
0


	
88

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000245

	
1

	
1

	
0


	
89

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000027

	
1

	
1

	
0


	
90

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000030

	
1

	
1

	
0


	
91

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000257

	
1

	
1

	
0


	
92

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000255

	
1

	
1

	
0


	
93

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
0817000016

	
1

	
1

	
0


	
94

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1000200

	
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1002338

	
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1002338

	
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1002338

	
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1002338

	
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1002338

	
0.002500

	  	  	
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1002338

	
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1002338

	
0.002500

	  	  	
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0.002500

	  	  	
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1002338

	
0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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152

	
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0.002500

	  	  	
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153

	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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156

	
1002338

	
0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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159

	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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168

	
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0.002500

	  	  	
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169

	
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0.002500

	  	  	
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170

	
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0.002500

	  	  	
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171

	
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172

	
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173

	
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174

	
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0.002500

	  	  	
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175

	
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0.002500

	  	  	
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176

	
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0.002500

	  	  	
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177

	
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0.002500

	  	  	
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178

	
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0.002500

	  	  	
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179

	
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0.002500

	  	  	
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180

	
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0.002500

	  	  	
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181

	
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0.002500

	  	  	
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182

	
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0.002500

	  	  	
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183

	
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0.002500

	  	  	
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184

	
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0.002500

	  	  	
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185

	
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0.002500

	  	  	
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186

	
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0.002500

	  	  	
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187

	
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0.002500

	  	  	
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188

	
1002338

	
0.002500

	  	  	
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189

	
1002338

	
0.002500

	  	  	
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190

	
1002338

	
0.002500

	  	  	
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191

	
1002338

	
0.002500

	  	  	
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192

	
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0.002500

	  	  	
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193

	
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0.002500

	  	  	
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194

	
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0.002500

	  	  	
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195

	
1002338

	
0.002500

	  	  	
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196

	
1002338

	
0.002500

	  	  	
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197

	
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0.002500

	  	  	
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198

	
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0.002500

	  	  	
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199

	
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0.002500

	  	  	
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200

	
1002338

	
0.002500

	  	  	
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201

	
1002338

	
0.002500

	  	  	
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202

	
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0.002500

	  	  	
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203

	
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0.002500

	  	  	
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204

	
1002338

	
0.002500

	  	  	
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0.002500

	  	  	
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206

	
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0.002500

	  	  	
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207

	
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0.002500

	  	  	
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208

	
1002338

	
0.002500

	  	  	
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209

	
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0.002500

	  	  	
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210

	
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0.002500

	  	  	
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211

	
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0.002500

	  	  	
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212

	
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0.002500

	  	  	
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213

	
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0.002500

	  	  	
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214

	
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0.002500

	  	  	
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215

	
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0.002500

	  	  	
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216

	
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0.002500

	  	  	
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217

	
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0.002500

	  	  	
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218

	
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0.002500

	  	  	
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219

	
1002338

	
0.002500

	  	  	
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220

	
1002338

	
0.002500

	  	  	
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221

	
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0.002500

	  	  	
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222

	
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0.002500

	  	  	
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223

	
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0.002500

	  	  	
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224

	
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0.002500

	  	  	
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225

	
1002338

	
0.002500

	  	  	
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226

	
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0.002500

	  	  	
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227

	
1002338

	
0.002500

	  	  	
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228

	
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0.002500

	  	  	
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229

	
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0.002500

	  	  	
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230

	
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0.002500

	  	  	
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0.002500

	  	  	
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232

	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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239

	
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0.002500

	  	  	
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240

	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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243

	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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0.002500

	  	  	
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260

	
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3000000055

	
2

	
1

	
0


	
261

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000314

	
2

	
1

	
0


	
262

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000114

	
2

	
1

	
0


	
263

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000056

	
2

	
1

	
0


	
264

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000152

	
2

	
1

	
0


	
265

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000160

	
2

	
1

	
0


	
266

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000057

	
2

	
1

	
0


	
267

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000161

	
2

	
1

	
0


	
268

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000218

	
2

	
1

	
0


	
269

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000093

	
2

	
1

	
0


	
270

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000266

	
2

	
1

	
0


	
271

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000111

	
2

	
1

	
0


	
272

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000002

	
2

	
1

	
0


	
273

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000122

	
2

	
1

	
0


	
274

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000153

	
2

	
1

	
0


	
275

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000174

	
2

	
1

	
0


	
276

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000189

	
2

	
1

	
0


	
277

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000248

	
2

	
1

	
0


	
278

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000219

	
2

	
1

	
0


	
279

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000003

	
2

	
1

	
0


	
280

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000287

	
2

	
1

	
0


	
281

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000292

	
2

	
1

	
0


	
282

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000208

	
2

	
1

	
0


	
283

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000329

	
2

	
1

	
0


	
284

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000004

	
2

	
1

	
0


	
285

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000227

	
2

	
1

	
0


	
286

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000235

	
2

	
1

	
0


	
287

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000252

	
2

	
1

	
0


	
288

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000352

	
2

	
1

	
0


	
289

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000263

	
2

	
1

	
0


	
290

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000322

	
2

	
1

	
0


	
291

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0806000004

	
2

	
1

	
0


	
292

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000337

	
2

	
1

	
0


	
293

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000007

	
2

	
1

	
0


	
294

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000347

	
2

	
1

	
0


	
295

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000008

	
2

	
1

	
0


	
296

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
0814000009

	
2

	
1

	
0


	
297

	
1002338

	
0.002500

	  	  	
1002338

	
1

	
3000000420

	
2

	
1

	
0


	
298

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000436

	
1

	
1

	
0


	
299

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000221

	
1

	
1

	
0


	
300

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000230

	
1

	
1

	
0


	
301

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000410

	
1

	
1

	
0


	
302

	
1000200

	
0.002500

	  	  	
1000200

	
1

	
2000000419

	
1

	
1

	
0







 




	  	
11

	
12

	
13

	
14

	
15

	
16

	
17

	
18

	
19

	
20


	
KEY

	
Loan Purpose

	
Cash Out Amount

	
Total Origination and Discount Points

	
Covered/High Cost Loan Indicator

	
Relocation Loan Indicator

	
Broker Indicator

	
Channel

	
Escrow Indicator

	
Senior Loan


Amount(s)

	
Loan Type of Most


Senior Lien


	
1

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
2

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
3

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
4

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
5

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
6

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
7

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
8

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
9

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
10

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
11

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
12

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
13

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
14

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
15

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
16

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
17

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
18

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
19

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
20

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
21

	
3

	  	  	  	  	  	
1

	
4

	
0

	  
	
22

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
23

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
24

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
25

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
26

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
27

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
28

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
29

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
30

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
31

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
32

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
33

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
34

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
35

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
36

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
37

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
38

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
39

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
40

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
41

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
42

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
43

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
44

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
45

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
46

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
47

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
48

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
49

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
50

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
51

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
52

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
53

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
54

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
55

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
56

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
57

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
58

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
59

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
60

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
61

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
62

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
63

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
64

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
65

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
66

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
67

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
68

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
69

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
70

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
71

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
72

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
73

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
74

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
75

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
76

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
77

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
78

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
79

	
6

	  	  	  	  	  	
1

	
4

	
0

	  
	
80

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
81

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
82

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
83

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
84

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
85

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
86

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
87

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
88

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
89

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
90

	
3

	  	  	  	  	  	
1

	
4

	
0

	  
	
91

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
92

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
93

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
94

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
95

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
96

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
97

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
98

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
99

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
100

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
101

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
102

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
103

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
104

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
105

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
106

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
107

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
108

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
109

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
110

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
111

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
112

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
113

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
114

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
115

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
116

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
117

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
118

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
119

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
120

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
121

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
122

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
123

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
124

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
125

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
126

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
127

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
128

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
129

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
130

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
131

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
132

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
133

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
134

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
135

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
136

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
137

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
138

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
139

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
140

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
141

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
142

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
143

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
144

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
145

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
146

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
147

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
148

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
149

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
150

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
151

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
152

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
153

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
154

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
155

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
156

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
157

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
158

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
159

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
160

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
161

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
162

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
163

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
164

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
165

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
166

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
167

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
168

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
169

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
170

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
171

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
172

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
173

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
174

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
175

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
176

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
177

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
178

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
179

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
180

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
181

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
182

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
183

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
184

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
185

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
186

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
187

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
188

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
189

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
190

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
191

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
192

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
193

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
194

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
195

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
196

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
197

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
198

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
199

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
200

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
201

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
202

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
203

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
204

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
205

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
206

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
207

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
208

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
209

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
210

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
211

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
212

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
213

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
214

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
215

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
216

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
217

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
218

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
219

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
220

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
221

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
222

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
223

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
224

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
225

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
226

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
227

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
228

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
229

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
230

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
231

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
232

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
233

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
234

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
235

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
236

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
237

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
238

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
239

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
240

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
241

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
242

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
243

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
244

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
245

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
246

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
247

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
248

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
249

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
250

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
251

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
252

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
253

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
254

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
255

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
256

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
257

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
258

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
259

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
260

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
261

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
262

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
263

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
264

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
265

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
266

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
267

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
268

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
269

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
270

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
271

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
272

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
273

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
274

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
275

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
276

	
3

	  	  	  	  	  	
1

	
0

	
0

	  
	
277

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
278

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
279

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
280

	
6

	  	  	  	  	  	
1

	
0

	
0

	  
	
281

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
282

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
283

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
284

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
285

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
286

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
287

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
288

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
289

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
290

	
7

	  	  	  	  	  	
1

	
0

	
0

	  
	
291

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
292

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
293

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
294

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
295

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
296

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
297

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
298

	
7

	  	  	  	  	  	
1

	
4

	
0

	  
	
299

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
300

	
9

	  	  	  	  	  	
1

	
0

	
0

	  
	
301

	
9

	  	  	  	  	  	
1

	
4

	
0

	  
	
302

	
9

	  	  	  	  	  	
1

	
0

	
0

	  








	  	
21

	
22

	
23

	
24

	
25

	
26

	
27

	
28

	
29

	
30


	
KEY

	
Hybrid Period of


Most Senior Lien (in


months)

	
Neg Am Limit of


Most Senior Lien

	
Junior Mortgage


Balance

	
Origination Date of


Most Senior Lien

	
Origination Date

	
Original Loan


Amount

	
Original Interest


Rate

	
Original


Amortization Term

	
Original Term to


Maturity

	
First Payment Date


of Loan


	
1

	  	  	
0.00

	  	
20100723

	
879223.03

	
0.055000

	
360

	
360

	
20100901


	
2

	  	  	
123000.00

	  	
20100816

	
1627000.00

	
0.056250

	
360

	
360

	
20101001


	
3

	  	  	
0.00

	  	
20100813

	
664000.00

	
0.053750

	
360

	
360

	
20101001


	
4

	  	  	
0.00

	  	
20100924

	
700000.00

	
0.053750

	
360

	
360

	
20101101


	
5

	  	  	
0.00

	  	
20100731

	
727500.00

	
0.053750

	
360

	
360

	
20100901


	
6

	  	  	
0.00

	  	
20100929

	
830000.00

	
0.053750

	
360

	
360

	
20101101


	
7

	  	  	
240000.00

	  	
20100908

	
939891.00

	
0.052500

	
360

	
360

	
20101101


	
8

	  	  	
0.00

	  	
20100927

	
1267500.00

	
0.053750

	
360

	
360

	
20101101


	
9

	  	  	
0.00

	  	
20100917

	
1320000.00

	
0.052500

	
360

	
360

	
20101101


	
10

	  	  	
0.00

	  	
20101001

	
558090.93

	
0.052500

	
360

	
360

	
20101201


	
11

	  	  	
60000.00

	  	
20100920

	
586752.00

	
0.052500

	
360

	
360

	
20101101


	
12

	  	  	
0.00

	  	
20101001

	
800900.00

	
0.052500

	
360

	
360

	
20101201


	
13

	  	  	
0.00

	  	
20100928

	
795000.00

	
0.050000

	
360

	
360

	
20101101


	
14

	  	  	
0.00

	  	
20101025

	
1459800.00

	
0.050000

	
360

	
360

	
20101201


	
15

	  	  	
0.00

	  	
20101104

	
702289.93

	
0.051250

	
360

	
360

	
20110101


	
16

	  	  	
500000.00

	  	
20101002

	
625000.00

	
0.048750

	
360

	
360

	
20101201


	
17

	  	  	
425000.00

	  	
20101025

	
935000.00

	
0.051250

	
360

	
360

	
20101201


	
18

	  	  	
0.00

	  	
20101021

	
904900.00

	
0.050000

	
360

	
360

	
20101201


	
19

	  	  	
0.00

	  	
20101020

	
726000.00

	
0.051250

	
360

	
360

	
20101201


	
20

	  	  	
0.00

	  	
20101105

	
864000.00

	
0.051250

	
360

	
360

	
20101201


	
21

	  	  	
425000.00

	  	
20101122

	
1200000.00

	
0.051250

	
360

	
360

	
20110101


	
22

	  	  	
130000.00

	  	
20101122

	
545500.00

	
0.050000

	
360

	
360

	
20110101


	
23

	  	  	
0.00

	  	
20101118

	
697600.00

	
0.050000

	
360

	
360

	
20110101


	
24

	  	  	
0.00

	  	
20101110

	
1150000.00

	
0.048750

	
360

	
360

	
20110101


	
25

	  	  	
0.00

	  	
20101214

	
787500.00

	
0.050000

	
360

	
360

	
20110201


	
26

	  	  	
200000.00

	  	
20101217

	
1000000.00

	
0.052500

	
360

	
360

	
20110201


	
27

	  	  	
0.00

	  	
20100825

	
760000.00

	
0.052500

	
360

	
360

	
20101001


	
28

	  	  	
0.00

	  	
20101209

	
1031250.00

	
0.055000

	
360

	
360

	
20110201


	
29

	  	  	
100000.00

	  	
20100929

	
800000.00

	
0.050000

	
360

	
360

	
20101101


	
30

	  	  	
0.00

	  	
20101124

	
617000.00

	
0.050000

	
360

	
360

	
20110101


	
31

	  	  	
0.00

	  	
20101022

	
765254.00

	
0.051250

	
360

	
360

	
20101201


	
32

	  	  	
0.00

	  	
20100820

	
591200.00

	
0.047500

	
360

	
360

	
20101001


	
33

	  	  	
0.00

	  	
20100707

	
999999.00

	
0.057500

	
360

	
360

	
20100901


	
34

	  	  	
170839.00

	  	
20100716

	
756794.00

	
0.055000

	
360

	
360

	
20100901


	
35

	  	  	
0.00

	  	
20100716

	
530800.00

	
0.053750

	
360

	
360

	
20100901


	
36

	  	  	
0.00

	  	
20100628

	
540000.00

	
0.057500

	
360

	
360

	
20100801


	
37

	  	  	
0.00

	  	
20100707

	
999999.00

	
0.053750

	
360

	
360

	
20100901


	
38

	  	  	
0.00

	  	
20100923

	
635342.66

	
0.053750

	
360

	
360

	
20101101


	
39

	  	  	
0.00

	  	
20100628

	
645000.00

	
0.052500

	
360

	
360

	
20100801


	
40

	  	  	
0.00

	  	
20100707

	
479200.00

	
0.055000

	
360

	
360

	
20100901


	
41

	  	  	
0.00

	  	
20100723

	
825000.00

	
0.052500

	
360

	
360

	
20100901


	
42

	  	  	
0.00

	  	
20100702

	
675000.00

	
0.052500

	
360

	
360

	
20100901


	
43

	  	  	
0.00

	  	
20100628

	
960000.00

	
0.053750

	
360

	
360

	
20100901


	
44

	  	  	
0.00

	  	
20100807

	
762400.00

	
0.056250

	
360

	
360

	
20100901


	
45

	  	  	
0.00

	  	
20100928

	
612000.00

	
0.050000

	
360

	
360

	
20101101


	
46

	  	  	
0.00

	  	
20100812

	
702000.00

	
0.055000

	
360

	
360

	
20101001


	
47

	  	  	
0.00

	  	
20100712

	
780000.00

	
0.055000

	
360

	
360

	
20100901


	
48

	  	  	
0.00

	  	
20100723

	
487500.00

	
0.052500

	
360

	
360

	
20100901


	
49

	  	  	
269000.00

	  	
20100820

	
990179.76

	
0.053750

	
360

	
360

	
20101001


	
50

	  	  	
0.00

	  	
20100806

	
720000.00

	
0.052500

	
360

	
360

	
20101001


	
51

	  	  	
486000.00

	  	
20100723

	
954000.00

	
0.055000

	
360

	
360

	
20100901


	
52

	  	  	
0.00

	  	
20100723

	
600000.00

	
0.053750

	
360

	
360

	
20100901


	
53

	  	  	
0.00

	  	
20100930

	
704567.00

	
0.053750

	
360

	
360

	
20101101


	
54

	  	  	
0.00

	  	
20100722

	
1375000.00

	
0.050000

	
360

	
360

	
20100901


	
55

	  	  	
0.00

	  	
20100824

	
1300000.00

	
0.053750

	
360

	
360

	
20101001


	
56

	  	  	
0.00

	  	
20100726

	
560000.00

	
0.051250

	
360

	
360

	
20100901


	
57

	  	  	
0.00

	  	
20101006

	
494700.00

	
0.055000

	
360

	
360

	
20101201


	
58

	  	  	
0.00

	  	
20101116

	
600000.00

	
0.047500

	
360

	
360

	
20110101


	
59

	  	  	
0.00

	  	
20100915

	
712500.00

	
0.048750

	
360

	
360

	
20101101


	
60

	  	  	
0.00

	  	
20100805

	
950000.00

	
0.052500

	
360

	
360

	
20101001


	
61

	  	  	
0.00

	  	
20100813

	
550000.00

	
0.048750

	
360

	
360

	
20101001


	
62

	  	  	
0.00

	  	
20100924

	
798500.00

	
0.052500

	
360

	
360

	
20101101


	
63

	  	  	
0.00

	  	
20100913

	
538000.00

	
0.051250

	
360

	
360

	
20101101


	
64

	  	  	
0.00

	  	
20100914

	
600000.00

	
0.052500

	
360

	
360

	
20101101


	
65

	  	  	
0.00

	  	
20100827

	
560000.00

	
0.050000

	
360

	
360

	
20101001


	
66

	  	  	
0.00

	  	
20100826

	
540881.00

	
0.051250

	
360

	
360

	
20101001


	
67

	  	  	
0.00

	  	
20100907

	
872000.00

	
0.051250

	
360

	
360

	
20101101


	
68

	  	  	
0.00

	  	
20101012

	
1372900.00

	
0.052500

	
360

	
360

	
20101201


	
69

	  	  	
0.00

	  	
20100831

	
628000.00

	
0.048750

	
360

	
360

	
20101001


	
70

	  	  	
0.00

	  	
20100901

	
650000.00

	
0.052500

	
360

	
360

	
20101101


	
71

	  	  	
70000.00

	  	
20100910

	
850000.00

	
0.050000

	
360

	
360

	
20101101


	
72

	  	  	
250000.00

	  	
20100924

	
1051844.70

	
0.051250

	
360

	
360

	
20101101


	
73

	  	  	
0.00

	  	
20101108

	
860000.00

	
0.053750

	
360

	
360

	
20110101


	
74

	  	  	
0.00

	  	
20101109

	
962800.00

	
0.051250

	
360

	
360

	
20110101


	
75

	  	  	
0.00

	  	
20100910

	
696784.00

	
0.051250

	
360

	
360

	
20101101


	
76

	  	  	
0.00

	  	
20100910

	
1734000.00

	
0.051250

	
360

	
360

	
20101101


	
77

	  	  	
0.00

	  	
20100917

	
1500000.00

	
0.050000

	
360

	
360

	
20101101


	
78

	  	  	
0.00

	  	
20100826

	
465000.00

	
0.050000

	
360

	
360

	
20101001


	
79

	  	  	
0.00

	  	
20100830

	
500000.00

	
0.050000

	
360

	
360

	
20101001


	
80

	  	  	
0.00

	  	
20100924

	
483200.00

	
0.052500

	
360

	
360

	
20101101


	
81

	  	  	
100000.00

	  	
20101008

	
926299.00

	
0.051250

	
360

	
360

	
20101201


	
82

	  	  	
0.00

	  	
20100910

	
566250.00

	
0.047500

	
360

	
360

	
20101101


	
83

	  	  	
0.00

	  	
20100830

	
770000.00

	
0.050000

	
360

	
360

	
20101001


	
84

	  	  	
0.00

	  	
20100831

	
908000.00

	
0.048750

	
360

	
360

	
20101001


	
85

	  	  	
0.00

	  	
20101001

	
543000.00

	
0.052500

	
360

	
360

	
20101201


	
86

	  	  	
0.00

	  	
20101011

	
700000.00

	
0.050000

	
360

	
360

	
20101201


	
87

	  	  	
0.00

	  	
20100930

	
1715000.00

	
0.048750

	
360

	
360

	
20101101


	
88

	  	  	
0.00

	  	
20101008

	
1095500.00

	
0.051250

	
360

	
360

	
20101201


	
89

	  	  	
0.00

	  	
20100910

	
498000.00

	
0.048750

	
360

	
360

	
20101101


	
90

	  	  	
0.00

	  	
20101112

	
847610.00

	
0.052500

	
360

	
360

	
20110101


	
91

	  	  	
0.00

	  	
20100830

	
573750.00

	
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300000.00

	  	
20100108

	
850000.00

	
0.054000

	
360

	
360

	
20100301


	
253

	  	  	
0.00

	  	
20100326

	
725000.00

	
0.055500

	
360

	
360

	
20100501


	
254

	  	  	
0.00

	  	
20100331

	
1100000.00

	
0.048500

	
360

	
360

	
20100601


	
255

	  	  	
200000.00

	  	
20100525

	
840000.00

	
0.054500

	
360

	
360

	
20100801


	
256

	  	  	
0.00

	  	
20100625

	
1840000.00

	
0.051500

	
360

	
360

	
20100801


	
257

	  	  	
500000.00

	  	
20100528

	
2000000.00

	
0.049500

	
360

	
360

	
20100801


	
258

	  	  	
0.00

	  	
20100615

	
1875000.00

	
0.053500

	
360

	
360

	
20100801


	
259

	  	  	
0.00

	  	
20100908

	
729750.00

	
0.048000

	
360

	
360

	
20101101


	
260

	  	  	
0.00

	  	
20100616

	
1820000.00

	
0.055000

	
360

	
360

	
20100801


	
261

	  	  	
0.00

	  	
20101004

	
2000000.00

	
0.047500

	
360

	
360

	
20101201


	
262

	  	  	
565000.00

	  	
20100629

	
1500000.00

	
0.048500

	
360

	
360

	
20100901


	
263

	  	  	
80000.00

	  	
20100720

	
1320000.00

	
0.051500

	
360

	
360

	
20100901


	
264

	  	  	
0.00

	  	
20100715

	
1035200.00

	
0.048500

	
360

	
360

	
20100901


	
265

	  	  	
0.00

	  	
20100621

	
882000.00

	
0.047500

	
360

	
360

	
20100801


	
266

	  	  	
1500000.00

	  	
20100622

	
2000000.00

	
0.050500

	
360

	
360

	
20100801


	
267

	  	  	
500000.00

	  	
20100707

	
1000000.00

	
0.048500

	
360

	
360

	
20100901


	
268

	  	  	
0.00

	  	
20100802

	
1450000.00

	
0.045000

	
360

	
360

	
20101001


	
269

	  	  	
0.00

	  	
20100729

	
1000000.00

	
0.050500

	
360

	
360

	
20101001


	
270

	  	  	
0.00

	  	
20100728

	
1500000.00

	
0.046000

	
360

	
360

	
20101001


	
271

	  	  	
200000.00

	  	
20100730

	
2000000.00

	
0.049000

	
360

	
360

	
20101001


	
272

	  	  	
0.00

	  	
20100916

	
1200000.00

	
0.045500

	
360

	
360

	
20101101


	
273

	  	  	
0.00

	  	
20100806

	
768750.00

	
0.049000

	
360

	
360

	
20101001


	
274

	  	  	
373600.00

	  	
20100802

	
1000000.00

	
0.046000

	
360

	
360

	
20101001


	
275

	  	  	
0.00

	  	
20100812

	
1445000.00

	
0.049000

	
360

	
360

	
20101001


	
276

	  	  	
0.00

	  	
20100809

	
1000000.00

	
0.050000

	
360

	
360

	
20101001


	
277

	  	  	
0.00

	  	
20100810

	
699000.00

	
0.045500

	
360

	
360

	
20101001


	
278

	  	  	
0.00

	  	
20100820

	
1250000.00

	
0.046500

	
360

	
360

	
20101001


	
279

	  	  	
340000.00

	  	
20100824

	
2000000.00

	
0.045000

	
360

	
360

	
20101001


	
280

	  	  	
0.00

	  	
20100901

	
1470000.00

	
0.046000

	
360

	
360

	
20101101


	
281

	  	  	
100000.00

	  	
20100831

	
1000000.00

	
0.046500

	
360

	
360

	
20101101


	
282

	  	  	
0.00

	  	
20100901

	
1127795.00

	
0.048500

	
360

	
360

	
20101101


	
283

	  	  	
0.00

	  	
20101012

	
1100000.00

	
0.047000

	
360

	
360

	
20101201


	
284

	  	  	
1808000.00

	  	
20100915

	
1973102.00

	
0.044500

	
360

	
360

	
20101101


	
285

	  	  	
0.00

	  	
20100907

	
1350000.00

	
0.048000

	
360

	
360

	
20101101


	
286

	  	  	
100000.00

	  	
20100917

	
700000.00

	
0.048500

	
360

	
360

	
20101101


	
287

	  	  	
300000.00

	  	
20100901

	
600000.00

	
0.044000

	
360

	
360

	
20101101


	
288

	  	  	
450000.00

	  	
20101029

	
1060000.00

	
0.047500

	
360

	
360

	
20110101


	
289

	  	  	
0.00

	  	
20100910

	
600000.00

	
0.046000

	
360

	
360

	
20101101


	
290

	  	  	
376000.00

	  	
20100929

	
1000000.00

	
0.046500

	
360

	
360

	
20101201


	
291

	  	  	
0.00

	  	
20100923

	
1000000.00

	
0.047500

	
360

	
360

	
20101101


	
292

	  	  	
0.00

	  	
20101029

	
950000.00

	
0.048000

	
360

	
360

	
20110101


	
293

	  	  	
0.00

	  	
20101013

	
1000000.00

	
0.044500

	
360

	
360

	
20101201


	
294

	  	  	
0.00

	  	
20100930

	
1100000.00

	
0.047000

	
360

	
360

	
20101201


	
295

	  	  	
0.00

	  	
20101105

	
1540000.00

	
0.046500

	
360

	
360

	
20110101


	
296

	  	  	
0.00

	  	
20101103

	
1100000.00

	
0.047500

	
360

	
360

	
20110101


	
297

	  	  	
0.00

	  	
20101209

	
1093000.00

	
0.047000

	
360

	
360

	
20110201


	
298

	  	  	
0.00

	  	
20101230

	
468750.00

	
0.052500

	
360

	
360

	
20110201


	
299

	  	  	
58500.00

	  	
20101228

	
725200.00

	
0.053750

	
360

	
360

	
20110201


	
300

	  	  	
404000.00

	  	
20101105

	
715861.33

	
0.050000

	
360

	
360

	
20110101


	
301

	  	  	
0.00

	  	
20101220

	
619500.00

	
0.050000

	
360

	
360

	
20110201


	
302

	  	  	
0.00

	  	
20101222

	
598069.00

	
0.053750

	
360

	
360

	
20110201










	  	
31

	
32

	
33

	
34

	
35

	
36

	
37

	
38

	
39

	
40


	
KEY

	
Interest Type


Indicator

	
Original Interest


Only Term

	
Buy Down Period

	
HELOC Draw Period

	
Scheduled Loan Amount

	
Current Interest


Rate

	
Current Payment


Amount Due

	
Scheduled Interest Paid


Through Date

	
Current Payment


Status

	
Index Type


	
1

	
1

	
0

	
0

	  	
860328.47

	
0.055000

	
4992.14

	
20110201

	
0

	  
	
2

	
1

	
0

	
0

	  	
1618221.25

	
0.056250

	
9365.93

	
20110201

	
0

	  
	
3

	
1

	
0

	
0

	  	
660246.31

	
0.053750

	
3718.21

	
20110201

	
0

	  
	
4

	
1

	
0

	
0

	  	
694102.19

	
0.053750

	
3919.80

	
20110201

	
0

	  
	
5

	
1

	
0

	
0

	  	
722553.65

	
0.053750

	
4073.80

	
20110201

	
0

	  
	
6

	
1

	
0

	
0

	  	
826247.95

	
0.053750

	
4647.77

	
20110201

	
0

	  
	
7

	
1

	
0

	
0

	  	
935043.63

	
0.052500

	
5190.12

	
20110201

	
0

	  
	
8

	
1

	
0

	
0

	  	
1235301.57

	
0.053750

	
7097.64

	
20110201

	
0

	  
	
9

	
1

	
0

	
0

	  	
1313903.78

	
0.052500

	
7289.09

	
20110201

	
0

	  
	
10

	
1

	
0

	
0

	  	
556162.06

	
0.052500

	
3081.80

	
20110201

	
0

	  
	
11

	
1

	
0

	
0

	  	
584042.17

	
0.052500

	
3240.07

	
20110201

	
0

	  
	
12

	
1

	
0

	
0

	  	
797129.75

	
0.052500

	
4422.60

	
20110201

	
0

	  
	
13

	
1

	
0

	
0

	  	
791155.09

	
0.050000

	
4267.74

	
20110201

	
0

	  
	
14

	
1

	
0

	
0

	  	
1454515.95

	
0.050000

	
7836.53

	
20110201

	
0

	  
	
15

	
1

	
0

	
0

	  	
700637.37

	
0.051250

	
3823.88

	
20110201

	
0

	  
	
16

	
1

	
0

	
0

	  	
622685.13

	
0.048750

	
3307.56

	
20110201

	
0

	  
	
17

	
1

	
0

	
0

	  	
931692.72

	
0.051250

	
5090.96

	
20110201

	
0

	  
	
18

	
1

	
0

	
0

	  	
901624.55

	
0.050000

	
4857.70

	
20110201

	
0

	  
	
19

	
1

	
0

	
0

	  	
678097.87

	
0.051250

	
3952.98

	
20110201

	
0

	  
	
20

	
1

	
0

	
0

	  	
860943.88

	
0.051250

	
4704.37

	
20110201

	
0

	  
	
21

	
1

	
0

	
0

	  	
1197176.28

	
0.051250

	
6533.85

	
20110201

	
0

	  
	
22

	
1

	
0

	
0

	  	
544167.14

	
0.050000

	
2928.37

	
20110201

	
0

	  
	
23

	
1

	
0

	
0

	  	
695920.10

	
0.050000

	
3744.87

	
20110201

	
0

	  
	
24

	
1

	
0

	
0

	  	
1147166.21

	
0.048750

	
6085.90

	
20110201

	
0

	  
	
25

	
1

	
0

	
0

	  	
786553.77

	
0.050000

	
4227.48

	
20110201

	
0

	  
	
26

	
1

	
0

	
0

	  	
998852.96

	
0.052500

	
5522.04

	
20110201

	
0

	  
	
27

	
1

	
0

	
0

	  	
749167.90

	
0.052500

	
4196.75

	
20110201

	
0

	  
	
28

	
1

	
0

	
0

	  	
1030121.23

	
0.055000

	
5855.33

	
20110201

	
0

	  
	
29

	
1

	
0

	
0

	  	
796130.92

	
0.050000

	
4294.58

	
20110201

	
0

	  
	
30

	
1

	
0

	
0

	  	
615514.19

	
0.050000

	
3312.19

	
20110201

	
0

	  
	
31

	
1

	
0

	
0

	  	
762547.16

	
0.051250

	
4166.71

	
20110201

	
0

	  
	
32

	
1

	
0

	
0

	  	
587451.38

	
0.047500

	
3083.98

	
20110201

	
0

	  
	
33

	
1

	
0

	
0

	  	
993659.07

	
0.057500

	
5835.73

	
20110201

	
0

	  
	
34

	
1

	
0

	
0

	  	
746818.74

	
0.055000

	
4297.00

	
20110201

	
0

	  
	
35

	
1

	
0

	
0

	  	
526521.22

	
0.053750

	
2972.33

	
20110201

	
0

	  
	
36

	
1

	
0

	
0

	  	
535996.22

	
0.057500

	
3151.30

	
20110201

	
0

	  
	
37

	
1

	
0

	
0

	  	
993199.97

	
0.053750

	
5599.71

	
20110201

	
0

	  
	
38

	
1

	
0

	
0

	  	
632475.74

	
0.053750

	
3557.74

	
20110201

	
0

	  
	
39

	
1

	
0

	
0

	  	
639752.62

	
0.052500

	
3561.72

	
20110201

	
0

	  
	
40

	
1

	
0

	
0

	  	
476016.61

	
0.055000

	
2720.85

	
20110201

	
0

	  
	
41

	
1

	
0

	
0

	  	
819183.66

	
0.052500

	
4555.69

	
20110201

	
0

	  
	
42

	
1

	
0

	
0

	  	
670303.38

	
0.052500

	
3727.38

	
20110201

	
0

	  
	
43

	
1

	
0

	
0

	  	
953472.91

	
0.053750

	
5375.73

	
20110201

	
0

	  
	
44

	
1

	
0

	
0

	  	
757451.97

	
0.056250

	
4388.81

	
20110201

	
0

	  
	
45

	
1

	
0

	
0

	  	
609040.17

	
0.050000

	
3285.35

	
20110201

	
0

	  
	
46

	
1

	
0

	
0

	  	
698122.73

	
0.055000

	
3985.88

	
20110201

	
0

	  
	
47

	
1

	
0

	
0

	  	
774613.76

	
0.055000

	
4428.76

	
20110201

	
0

	  
	
48

	
1

	
0

	
0

	  	
484107.96

	
0.052500

	
2692.00

	
20110201

	
0

	  
	
49

	
1

	
0

	
0

	  	
984582.09

	
0.053750

	
5544.73

	
20110201

	
0

	  
	
50

	
1

	
0

	
0

	  	
714422.05

	
0.052500

	
3975.87

	
20110201

	
0

	  
	
51

	
1

	
0

	
0

	  	
947662.51

	
0.055000

	
5416.71

	
20110201

	
0

	  
	
52

	
1

	
0

	
0

	  	
595920.58

	
0.053750

	
3359.83

	
20110201

	
0

	  
	
53

	
1

	
0

	
0

	  	
701387.69

	
0.053750

	
3945.38

	
20110201

	
0

	  
	
54

	
1

	
0

	
0

	  	
1364983.37

	
0.050000

	
7381.30

	
20110201

	
0

	  
	
55

	
1

	
0

	
0

	  	
1292650.89

	
0.053750

	
7279.63

	
20110201

	
0

	  
	
56

	
1

	
0

	
0

	  	
556012.87

	
0.051250

	
3049.13

	
20110201

	
0

	  
	
57

	
1

	
0

	
0

	  	
493068.08

	
0.055000

	
2808.86

	
20110201

	
0

	  
	
58

	
1

	
0

	
0

	  	
598487.23

	
0.047500

	
3129.89

	
20110201

	
0

	  
	
59

	
1

	
0

	
0

	  	
708974.27

	
0.048750

	
3770.61

	
20110201

	
0

	  
	
60

	
1

	
0

	
0

	  	
944503.66

	
0.052500

	
5245.94

	
20110201

	
0

	  
	
61

	
1

	
0

	
0

	  	
546591.05

	
0.048750

	
2910.65

	
20110201

	
0

	  
	
62

	
1

	
0

	
0

	  	
795740.23

	
0.052500

	
4409.35

	
20110201

	
0

	  
	
63

	
1

	
0

	
0

	  	
536097.00

	
0.051250

	
2929.34

	
20110201

	
0

	  
	
64

	
1

	
0

	
0

	  	
597228.96

	
0.052500

	
3313.23

	
20110201

	
0

	  
	
65

	
1

	
0

	
0

	  	
555908.52

	
0.050000

	
3006.21

	
20110201

	
0

	  
	
66

	
1

	
0

	
0

	  	
535888.59

	
0.051250

	
2945.03

	
20110201

	
0

	  
	
67

	
1

	
0

	
0

	  	
867878.63

	
0.051250

	
4747.93

	
20110201

	
0

	  
	
68

	
1

	
0

	
0

	  	
1368154.99

	
0.052500

	
7581.21

	
20110201

	
0

	  
	
69

	
1

	
0

	
0

	  	
624101.28

	
0.048750

	
3323.43

	
20110201

	
0

	  
	
70

	
1

	
0

	
0

	  	
646998.05

	
0.052500

	
3589.33

	
20110201

	
0

	  
	
71

	
1

	
0

	
0

	  	
845777.15

	
0.050000

	
4562.99

	
20110201

	
0

	  
	
72

	
1

	
0

	
0

	  	
1013453.21

	
0.051250

	
5727.16

	
20110201

	
0

	  
	
73

	
1

	
0

	
0

	  	
858068.33

	
0.053750

	
4815.76

	
20110201

	
0

	  
	
74

	
1

	
0

	
0

	  	
960017.99

	
0.051250

	
5242.33

	
20110201

	
0

	  
	
75

	
1

	
0

	
0

	  	
694319.35

	
0.051250

	
3793.90

	
20110201

	
0

	  
	
76

	
1

	
0

	
0

	  	
1725804.54

	
0.051250

	
9441.41

	
20110201

	
0

	  
	
77

	
1

	
0

	
0

	  	
1492745.50

	
0.050000

	
8052.33

	
20110201

	
0

	  
	
78

	
1

	
0

	
0

	  	
456337.64

	
0.050000

	
2496.23

	
20110201

	
0

	  
	
79

	
1

	
0

	
0

	  	
496970.98

	
0.050000

	
2684.11

	
20110201

	
0

	  
	
80

	
1

	
0

	
0

	  	
480968.41

	
0.052500

	
2668.25

	
20110201

	
0

	  
	
81

	
1

	
0

	
0

	  	
923022.51

	
0.051250

	
5043.58

	
20110201

	
0

	  
	
82

	
1

	
0

	
0

	  	
563383.34

	
0.047500

	
2953.83

	
20110201

	
0

	  
	
83

	
1

	
0

	
0

	  	
765127.81

	
0.050000

	
4133.53

	
20110201

	
0

	  
	
84

	
1

	
0

	
0

	  	
902352.81

	
0.048750

	
4805.22

	
20110201

	
0

	  
	
85

	
1

	
0

	
0

	  	
541123.27

	
0.052500

	
2998.47

	
20110201

	
0

	  
	
86

	
1

	
0

	
0

	  	
697466.19

	
0.050000

	
3757.76

	
20110201

	
0

	  
	
87

	
1

	
0

	
0

	  	
1706513.49

	
0.048750

	
9075.93

	
20110201

	
0

	  
	
88

	
1

	
0

	
0

	  	
1091625.01

	
0.051250

	
5964.86

	
20110201

	
0

	  
	
89

	
1

	
0

	
0

	  	
495460.40

	
0.048750

	
2635.46

	
20110201

	
0

	  
	
90

	
1

	
0

	
0

	  	
845661.25

	
0.052500

	
4680.54

	
20110201

	
0

	  
	
91

	
1

	
0

	
0

	  	
570430.52

	
0.052500

	
3168.27

	
20110201

	
0

	  
	
92

	
1

	
0

	
0

	  	
951608.11

	
0.052500

	
5266.93

	
20110201

	
0

	  
	
93

	
1

	
0

	
0

	  	
959249.89

	
0.053750

	
5389.73

	
20110201

	
0

	  
	
94

	
1

	
0

	
0

	  	
723703.03

	
0.050000

	
3894.38

	
20110201

	
0

	  
	
95

	
1

	
0

	
0

	  	
679347.94

	
0.052500

	
3768.80

	
20110201

	
0

	  
	
96

	
1

	
0

	
0

	  	
526786.07

	
0.052500

	
2915.64

	
20110201

	
0

	  
	
97

	
1

	
0

	
0

	  	
510907.07

	
0.050000

	
2755.99

	
20110201

	
0

	  
	
98

	
1

	
0

	
0

	  	
517485.08

	
0.050000

	
2791.48

	
20110201

	
0

	  
	
99

	
1

	
0

	
0

	  	
737072.33

	
0.050000

	
3971.14

	
20110201

	
0

	  
	
100

	
1

	
0

	
0

	  	
873634.32

	
0.051250

	
4802.24

	
20110201

	
0

	  
	
101

	
1

	
0

	
0

	  	
1094556.75

	
0.048750

	
5821.30

	
20110201

	
0

	  
	
102

	
1

	
0

	
0

	  	
811330.36

	
0.052500

	
4490.53

	
20110201

	
0

	  
	
103

	
1

	
0

	
0

	  	
934259.82

	
0.052500

	
5176.91

	
20110201

	
0

	  
	
104

	
1

	
0

	
0

	  	
678534.98

	
0.050000

	
3655.76

	
20110201

	
0

	  
	
105

	
1

	
0

	
0

	  	
895647.29

	
0.050000

	
4831.40

	
20110201

	
0

	  
	
106

	
1

	
0

	
0

	  	
807930.80

	
0.052500

	
4969.84

	
20110201

	
0

	  
	
107

	
1

	
0

	
0

	  	
966907.67

	
0.050000

	
5217.91

	
20110201

	
0

	  
	
108

	
1

	
0

	
0

	  	
833475.35

	
0.052500

	
4613.09

	
20110201

	
0

	  
	
109

	
1

	
0

	
0

	  	
1195531.50

	
0.050000

	
6441.86

	
20110201

	
0

	  
	
110

	
1

	
0

	
0

	  	
497766.36

	
0.050000

	
2684.11

	
20110201

	
0

	  
	
111

	
1

	
0

	
0

	  	
673663.61

	
0.052500

	
3732.90

	
20110201

	
0

	  
	
112

	
1

	
0

	
0

	  	
580894.42

	
0.047500

	
3038.08

	
20110201

	
0

	  
	
113

	
1

	
0

	
0

	  	
546149.53

	
0.053750

	
3068.65

	
20110201

	
0

	  
	
114

	
1

	
0

	
0

	  	
611497.19

	
0.048750

	
3240.08

	
20110201

	
0

	  
	
115

	
1

	
0

	
0

	  	
458917.56

	
0.051250

	
2504.65

	
20110201

	
0

	  
	
116

	
1

	
0

	
0

	  	
1097679.50

	
0.050000

	
5899.67

	
20110201

	
0

	  
	
117

	
1

	
0

	
0

	  	
797918.04

	
0.051250

	
4355.90

	
20110201

	
0

	  
	
118

	
1

	
0

	
0

	  	
836748.64

	
0.051250

	
4579.95

	
20110201

	
0

	  
	
119

	
1

	
0

	
0

	  	
730121.66

	
0.050000

	
3924.17

	
20110201

	
0

	  
	
120

	
1

	
0

	
0

	  	
887872.89

	
0.050000

	
4772.03

	
20110201

	
0

	  
	
121

	
1

	
0

	
0

	  	
583480.12

	
0.050000

	
3247.24

	
20110201

	
0

	  
	
122

	
1

	
0

	
0

	  	
1098647.45

	
0.048750

	
5821.30

	
20110201

	
0

	  
	
123

	
1

	
0

	
0

	  	
467437.67

	
0.050000

	
2512.33

	
20110201

	
0

	  
	
124

	
1

	
0

	
0

	  	
598555.14

	
0.050000

	
3220.93

	
20110201

	
0

	  
	
125

	
1

	
0

	
0

	  	
484503.53

	
0.048750

	
2567.19

	
20110201

	
0

	  
	
126

	
1

	
0

	
0

	  	
629225.35

	
0.048750

	
3334.02

	
20110201

	
0

	  
	
127

	
1

	
0

	
0

	  	
1312279.16

	
0.052500

	
7399.53

	
20110201

	
0

	  
	
128

	
1

	
0

	
0

	  	
1378898.26

	
0.053500

	
7761.96

	
20110201

	
0

	  
	
129

	
1

	
0

	
0

	  	
855360.70

	
0.057500

	
5028.94

	
20110201

	
0

	  
	
130

	
1

	
0

	
0

	  	
987198.76

	
0.054500

	
5618.33

	
20110201

	
0

	  
	
131

	
1

	
0

	
0

	  	
1972787.72

	
0.051000

	
10788.42

	
20110201

	
0

	  
	
132

	
1

	
0

	
0

	  	
1303367.68

	
0.052500

	
7247.68

	
20110201

	
0

	  
	
133

	
1

	
0

	
0

	  	
1092624.37

	
0.054500

	
6211.22

	
20110201

	
0

	  
	
134

	
1

	
0

	
0

	  	
1340778.71

	
0.053500

	
7538.59

	
20110201

	
0

	  
	
135

	
1

	
0

	
0

	  	
1112764.99

	
0.056500

	
6465.05

	
20110201

	
0

	  
	
136

	
1

	
0

	
0

	  	
1167588.52

	
0.051000

	
6385.09

	
20110201

	
0

	  
	
137

	
1

	
0

	
0

	  	
709907.11

	
0.053000

	
3964.88

	
20110201

	
0

	  
	
138

	
1

	
0

	
0

	  	
1666710.43

	
0.052000

	
9205.85

	
20110201

	
0

	  
	
139

	
1

	
0

	
0

	  	
1043639.05

	
0.050000

	
5636.63

	
20110201

	
0

	  
	
140

	
1

	
0

	
0

	  	
893702.54

	
0.049500

	
4799.66

	
20110201

	
0

	  
	
141

	
1

	
0

	
0

	  	
1133093.84

	
0.050000

	
6119.77

	
20110201

	
0

	  
	
142

	
1

	
0

	
0

	  	
1093396.99

	
0.050500

	
5938.70

	
20110201

	
0

	  
	
143

	
1

	
0

	
0

	  	
879296.10

	
0.050000

	
4831.40

	
20110201

	
0

	  
	
144

	
1

	
0

	
0

	  	
994214.39

	
0.052500

	
5522.04

	
20110201

	
0

	  
	
145

	
1

	
0

	
0

	  	
944452.67

	
0.052000

	
5216.56

	
20110201

	
0

	  
	
146

	
1

	
0

	
0

	  	
827939.08

	
0.049500

	
4440.97

	
20110201

	
0

	  
	
147

	
1

	
0

	
0

	  	
835981.04

	
0.051500

	
4591.74

	
20110201

	
0

	  
	
148

	
1

	
0

	
0

	  	
1191761.47

	
0.050500

	
6465.09

	
20110201

	
0

	  
	
149

	
1

	
0

	
0

	  	
695874.63

	
0.051500

	
3822.19

	
20110201

	
0

	  
	
150

	
1

	
0

	
0

	  	
1093517.31

	
0.051500

	
6006.29

	
20110201

	
0

	  
	
151

	
1

	
0

	
0

	  	
886647.42

	
0.051500

	
4903.32

	
20110201

	
0

	  
	
152

	
1

	
0

	
0

	  	
904487.19

	
0.050000

	
4885.08

	
20110201

	
0

	  
	
153

	
1

	
0

	
0

	  	
964283.43

	
0.051500

	
5296.46

	
20110201

	
0

	  
	
154

	
1

	
0

	
0

	  	
1530584.84

	
0.049500

	
8220.06

	
20110201

	
0

	  
	
155

	
1

	
0

	
0

	  	
894447.09

	
0.049000

	
4776.55

	
20110201

	
0

	  
	
156

	
1

	
0

	
0

	  	
1268776.85

	
0.049500

	
6805.57

	
20110201

	
0

	  
	
157

	
1

	
0

	
0

	  	
719325.14

	
0.049500

	
3863.17

	
20110201

	
0

	  
	
158

	
1

	
0

	
0

	  	
1204148.03

	
0.050000

	
6495.55

	
20110201

	
0

	  
	
159

	
1

	
0

	
0

	  	
597686.71

	
0.050500

	
3239.29

	
20110201

	
0

	  
	
160

	
1

	
0

	
0

	  	
994983.36

	
0.048000

	
5246.66

	
20110201

	
0

	  
	
161

	
1

	
0

	
0

	  	
1088042.47

	
0.049000

	
5838.00

	
20110201

	
0

	  
	
162

	
1

	
0

	
0

	  	
542912.46

	
0.049000

	
2895.65

	
20110201

	
0

	  
	
163

	
1

	
0

	
0

	  	
822013.75

	
0.050000

	
4428.78

	
20110201

	
0

	  
	
164

	
1

	
0

	
0

	  	
1641570.52

	
0.047000

	
8557.53

	
20110201

	
0

	  
	
165

	
1

	
0

	
0

	  	
1396565.98

	
0.049000

	
7430.18

	
20110201

	
0

	  
	
166

	
1

	
0

	
0

	  	
1252798.41

	
0.049000

	
6681.85

	
20110201

	
0

	  
	
167

	
1

	
0

	
0

	  	
1492406.18

	
0.047500

	
7824.72

	
20110201

	
0

	  
	
168

	
1

	
0

	
0

	  	
985123.43

	
0.049000

	
5254.20

	
20110201

	
0

	  
	
169

	
1

	
0

	
0

	  	
1036235.51

	
0.050000

	
5582.95

	
20110201

	
0

	  
	
170

	
1

	
0

	
0

	  	
1222022.75

	
0.049500

	
6538.69

	
20110201

	
0

	  
	
171

	
1

	
0

	
0

	  	
1104825.93

	
0.052000

	
6095.14

	
20110201

	
0

	  
	
172

	
1

	
0

	
0

	  	
896589.55

	
0.047500

	
4694.83

	
20110201

	
0

	  
	
173

	
1

	
0

	
0

	  	
845801.86

	
0.048500

	
4485.39

	
20110201

	
0

	  
	
174

	
1

	
0

	
0

	  	
1083635.51

	
0.051000

	
5904.58

	
20110201

	
0

	  
	
175

	
1

	
0

	
0

	  	
1691390.07

	
0.048000

	
8919.32

	
20110201

	
0

	  
	
176

	
1

	
0

	
0

	  	
996279.24

	
0.048500

	
5276.92

	
20110201

	
0

	  
	
177

	
1

	
0

	
0

	  	
969910.65

	
0.047500

	
5078.76

	
20110201

	
0

	  
	
178

	
1

	
0

	
0

	  	
1245661.70

	
0.047500

	
6531.03

	
20110201

	
0

	  
	
179

	
1

	
0

	
0

	  	
996511.60

	
0.052000

	
5491.11

	
20110201

	
0

	  
	
180

	
1

	
0

	
0

	  	
1096018.34

	
0.050000

	
5905.04

	
20110201

	
0

	  
	
181

	
1

	
0

	
0

	  	
1534217.38

	
0.048000

	
8079.85

	
20110201

	
0

	  
	
182

	
1

	
0

	
0

	  	
1295207.13

	
0.049000

	
6899.45

	
20110201

	
0

	  
	
183

	
1

	
0

	
0

	  	
936628.67

	
0.050500

	
5074.89

	
20110201

	
0

	  
	
184

	
1

	
0

	
0

	  	
693295.24

	
0.049000

	
3688.56

	
20110201

	
0

	  
	
185

	
1

	
0

	
0

	  	
1161464.22

	
0.047500

	
6074.07

	
20110201

	
0

	  
	
186

	
1

	
0

	
0

	  	
987615.96

	
0.050000

	
5314.54

	
20110201

	
0

	  
	
187

	
1

	
0

	
0

	  	
872793.88

	
0.047500

	
4564.42

	
20110201

	
0

	  
	
188

	
1

	
120

	
0

	  	
1250000.00

	
0.055000

	
5729.17

	
20110201

	
0

	
35


	
189

	
1

	
120

	
0

	  	
1450000.00

	
0.053000

	
6404.17

	
20110201

	
0

	
35


	
190

	
1

	
120

	
0

	  	
1400000.00

	
0.046500

	
5425.00

	
20110201

	
0

	
35


	
191

	
1

	
120

	
0

	  	
1039000.00

	
0.050000

	
4329.17

	
20110201

	
0

	
35


	
192

	
1

	
120

	
0

	  	
750000.00

	
0.053000

	
3312.50

	
20110201

	
0

	
35


	
193

	
1

	
120

	
0

	  	
980000.00

	
0.048000

	
3920.00

	
20110201

	
0

	
35


	
194

	
1

	
120

	
0

	  	
1000000.00

	
0.049500

	
4125.00

	
20110201

	
0

	
35


	
195

	
1

	
120

	
0

	  	
1100000.00

	
0.054000

	
4950.00

	
20110201

	
0

	
35


	
196

	
1

	
120

	
0

	  	
1100000.00

	
0.046500

	
4262.50

	
20110201

	
0

	
35


	
197

	
1

	
120

	
0

	  	
441000.00

	
0.050000

	
1837.50

	
20110201

	
0

	
35


	
198

	
1

	
120

	
0

	  	
650000.00

	
0.051500

	
2789.58

	
20110201

	
0

	
35


	
199

	
1

	
120

	
0

	  	
1100000.00

	
0.046000

	
4216.67

	
20110201

	
0

	
35


	
200

	
1

	
120

	
0

	  	
780000.00

	
0.051500

	
3347.50

	
20110201

	
0

	
35


	
201

	
1

	
120

	
0

	  	
1150000.00

	
0.049500

	
4743.75

	
20110201

	
0

	
35


	
202

	
1

	
120

	
0

	  	
2000000.00

	
0.049500

	
8250.00

	
20110201

	
0

	
35


	
203

	
1

	
120

	
0

	  	
1015000.00

	
0.049000

	
4144.58

	
20110201

	
0

	
35


	
204

	
1

	
120

	
0

	  	
1125020.00

	
0.049000

	
4593.83

	
20110201

	
0

	
35


	
205

	
1

	
120

	
0

	  	
2050000.00

	
0.048500

	
8285.42

	
20110201

	
0

	
35


	
206

	
1

	
120

	
0

	  	
1749095.66

	
0.052000

	
7579.41

	
20110201

	
0

	
35


	
207

	
1

	
120

	
0

	  	
1100000.00

	
0.055500

	
5087.50

	
20110201

	
0

	
35


	
208

	
1

	
120

	
0

	  	
1484000.00

	
0.050500

	
6245.17

	
20110201

	
0

	
35


	
209

	
1

	
120

	
0

	  	
1429329.17

	
0.046000

	
5895.97

	
20110201

	
0

	
35


	
210

	
1

	
120

	
0

	  	
902400.00

	
0.052000

	
3910.40

	
20110201

	
0

	
35


	
211

	
1

	
120

	
0

	  	
985000.00

	
0.048000

	
3940.00

	
20110201

	
0

	
35


	
212

	
1

	
120

	
0

	  	
1000000.00

	
0.051000

	
4250.00

	
20110201

	
0

	
35


	
213

	
1

	
120

	
0

	  	
930000.00

	
0.050000

	
3875.00

	
20110201

	
0

	
35


	
214

	
1

	
120

	
0

	  	
1150000.00

	
0.051500

	
4935.42

	
20110201

	
0

	
35


	
215

	
1

	
120

	
0

	  	
540000.00

	
0.053000

	
2385.00

	
20110201

	
0

	
35


	
216

	
1

	
120

	
0

	  	
630000.00

	
0.051500

	
2703.75

	
20110201

	
0

	
35


	
217

	
1

	
120

	
0

	  	
1070000.00

	
0.049000

	
4369.17

	
20110201

	
0

	
35


	
218

	
1

	
120

	
0

	  	
648000.00

	
0.050000

	
2700.00

	
20110201

	
0

	
35


	
219

	
1

	
120

	
0

	  	
935000.00

	
0.054500

	
4246.46

	
20110201

	
0

	
35


	
220

	
1

	
120

	
0

	  	
1000000.00

	
0.046500

	
3875.00

	
20110201

	
0

	
35


	
221

	
1

	
120

	
0

	  	
1000000.00

	
0.054000

	
4500.00

	
20110201

	
0

	
35


	
222

	
1

	
120

	
0

	  	
1500000.00

	
0.051000

	
6375.00

	
20110201

	
0

	
35


	
223

	
1

	
120

	
0

	  	
1000000.00

	
0.053500

	
4458.33

	
20110201

	
0

	
35


	
224

	
1

	
120

	
0

	  	
1320000.00

	
0.044500

	
4895.00

	
20110201

	
0

	
35


	
225

	
1

	
120

	
0

	  	
1725000.00

	
0.049500

	
7115.63

	
20110201

	
0

	
35


	
226

	
1

	
120

	
0

	  	
1354948.33

	
0.046500

	
5250.42

	
20110201

	
0

	
35


	
227

	
1

	
120

	
0

	  	
686737.22

	
0.049500

	
2832.79

	
20110201

	
0

	
35


	
228

	
1

	
120

	
0

	  	
837268.54

	
0.049000

	
3517.25

	
20110201

	
0

	
35


	
229

	
1

	
120

	
0

	  	
1200000.00

	
0.050500

	
5050.00

	
20110201

	
0

	
35


	
230

	
1

	
120

	
0

	  	
768000.00

	
0.054500

	
3488.00

	
20110201

	
0

	
35


	
231

	
1

	
120

	
0

	  	
1500000.00

	
0.052500

	
6562.50

	
20110201

	
0

	
35


	
232

	
1

	
120

	
0

	  	
999745.26

	
0.053000

	
4415.54

	
20110201

	
0

	
35


	
233

	
1

	
120

	
0

	  	
900000.00

	
0.053000

	
3975.00

	
20110201

	
0

	
35


	
234

	
1

	
120

	
0

	  	
1413278.27

	
0.049000

	
5770.89

	
20110201

	
0

	
35


	
235

	
1

	
120

	
0

	  	
545000.00

	
0.055000

	
2497.92

	
20110201

	
0

	
35


	
236

	
1

	
120

	
0

	  	
1000000.00

	
0.050000

	
4166.67

	
20110201

	
0

	
35


	
237

	
1

	
120

	
0

	  	
828738.60

	
0.054500

	
3763.85

	
20110201

	
0

	
35


	
238

	
1

	
120

	
0

	  	
985000.00

	
0.051500

	
4227.29

	
20110201

	
0

	
35


	
239

	
1

	
120

	
0

	  	
1000000.00

	
0.055500

	
4625.00

	
20110201

	
0

	
35


	
240

	
1

	
120

	
0

	  	
999200.00

	
0.051000

	
4246.60

	
20110201

	
0

	
35


	
241

	
1

	
120

	
0

	  	
959872.50

	
0.051000

	
4079.46

	
20110201

	
0

	
35


	
242

	
1

	
120

	
0

	  	
1350000.00

	
0.054000

	
6075.00

	
20110201

	
0

	
35


	
243

	
1

	
120

	
0

	  	
1000000.00

	
0.050500

	
4208.33

	
20110201

	
0

	
35


	
244

	
1

	
120

	
0

	  	
1750000.00

	
0.050000

	
7291.67

	
20110201

	
0

	
35


	
245

	
1

	
120

	
0

	  	
750000.00

	
0.048000

	
3000.00

	
20110201

	
0

	
35


	
246

	
1

	
120

	
0

	  	
850000.00

	
0.050000

	
3541.67

	
20110201

	
0

	
35


	
247

	
1

	
120

	
0

	  	
2025000.00

	
0.053500

	
9028.13

	
20110201

	
0

	
35


	
248

	
1

	
120

	
0

	  	
680000.00

	
0.055000

	
3116.67

	
20110201

	
0

	
35


	
249

	
1

	
120

	
0

	  	
450000.00

	
0.054000

	
2025.00

	
20110201

	
0

	
35


	
250

	
1

	
120

	
0

	  	
1500000.00

	
0.049500

	
6187.50

	
20110201

	
0

	
35


	
251

	
1

	
120

	
0

	  	
700000.00

	
0.054000

	
3150.00

	
20110201

	
0

	
35


	
252

	
1

	
120

	
0

	  	
850000.00

	
0.054000

	
3825.00

	
20110201

	
0

	
35


	
253

	
1

	
120

	
0

	  	
725000.00

	
0.055500

	
3353.13

	
20110201

	
0

	
35


	
254

	
1

	
120

	
0

	  	
1100000.00

	
0.048500

	
4445.83

	
20110201

	
0

	
35


	
255

	
1

	
120

	
0

	  	
789856.17

	
0.054500

	
3587.26

	
20110201

	
0

	
35


	
256

	
1

	
120

	
0

	  	
1840000.00

	
0.051500

	
7896.67

	
20110201

	
0

	
35


	
257

	
1

	
120

	
0

	  	
1598350.00

	
0.049500

	
6593.19

	
20110201

	
0

	
35


	
258

	
1

	
120

	
0

	  	
1874905.59

	
0.053500

	
8358.95

	
20110201

	
0

	
35


	
259

	
1

	
120

	
0

	  	
729750.00

	
0.048000

	
2919.00

	
20110201

	
0

	
35


	
260

	
1

	
120

	
0

	  	
1820000.00

	
0.055000

	
8341.67

	
20110201

	
0

	
35


	
261

	
1

	
120

	
0

	  	
2000000.00

	
0.047500

	
7916.67

	
20110201

	
0

	
35


	
262

	
1

	
120

	
0

	  	
1500000.00

	
0.048500

	
6062.50

	
20110201

	
0

	
35


	
263

	
1

	
120

	
0

	  	
1320000.00

	
0.051500

	
5665.00

	
20110201

	
0

	
35


	
264

	
1

	
120

	
0

	  	
1035200.00

	
0.048500

	
4183.93

	
20110201

	
0

	
35


	
265

	
1

	
120

	
0

	  	
882000.00

	
0.047500

	
3491.25

	
20110201

	
0

	
35


	
266

	
1

	
120

	
0

	  	
2000000.00

	
0.050500

	
8416.67

	
20110201

	
0

	
35


	
267

	
1

	
120

	
0

	  	
1000000.00

	
0.048500

	
4041.67

	
20110201

	
0

	
35


	
268

	
1

	
0

	
0

	  	
1440380.93

	
0.045000

	
7346.94

	
20110201

	
0

	
35


	
269

	
1

	
120

	
0

	  	
1000000.00

	
0.050500

	
4208.33

	
20110201

	
0

	
35


	
270

	
1

	
120

	
0

	  	
1500000.00

	
0.046000

	
5750.00

	
20110201

	
0

	
35


	
271

	
1

	
120

	
0

	  	
2000000.00

	
0.049000

	
8166.67

	
20110201

	
0

	
35


	
272

	
1

	
120

	
0

	  	
1200000.00

	
0.045500

	
4550.00

	
20110201

	
0

	
35


	
273

	
1

	
120

	
0

	  	
768750.00

	
0.049000

	
3139.06

	
20110201

	
0

	
35


	
274

	
1

	
120

	
0

	  	
1000000.00

	
0.046000

	
3833.33

	
20110201

	
0

	
35


	
275

	
1

	
120

	
0

	  	
1445000.00

	
0.049000

	
5900.42

	
20110201

	
0

	
35


	
276

	
1

	
120

	
0

	  	
1000000.00

	
0.050000

	
4166.67

	
20110201

	
0

	
35


	
277

	
1

	
120

	
0

	  	
699000.00

	
0.045500

	
2650.38

	
20110201

	
0

	
35


	
278

	
1

	
120

	
0

	  	
1250000.00

	
0.046500

	
4843.75

	
20110201

	
0

	
35


	
279

	
1

	
120

	
0

	  	
2000000.00

	
0.045000

	
7500.00

	
20110201

	
0

	
35


	
280

	
1

	
120

	
0

	  	
1470000.00

	
0.046000

	
5635.00

	
20110201

	
0

	
35


	
281

	
1

	
120

	
0

	  	
1000000.00

	
0.046500

	
3875.00

	
20110201

	
0

	
35


	
282

	
1

	
120

	
0

	  	
1127795.00

	
0.048500

	
4558.17

	
20110201

	
0

	
35


	
283

	
1

	
120

	
0

	  	
1100000.00

	
0.047000

	
4308.33

	
20110201

	
0

	
35


	
284

	
1

	
120

	
0

	  	
1973102.00

	
0.044500

	
7316.92

	
20110201

	
0

	
35


	
285

	
1

	
120

	
0

	  	
1298000.00

	
0.048000

	
5192.00

	
20110201

	
0

	
35


	
286

	
1

	
120

	
0

	  	
695500.01

	
0.048500

	
2810.98

	
20110201

	
0

	
35


	
287

	
1

	
120

	
0

	  	
600000.00

	
0.044000

	
2200.00

	
20110201

	
0

	
35


	
288

	
1

	
120

	
0

	  	
1060000.00

	
0.047500

	
4195.83

	
20110201

	
0

	
35


	
289

	
1

	
120

	
0

	  	
600000.00

	
0.046000

	
2300.00

	
20110201

	
0

	
35


	
290

	
1

	
120

	
0

	  	
1000000.00

	
0.046500

	
3875.00

	
20110201

	
0

	
35


	
291

	
1

	
120

	
0

	  	
1000000.00

	
0.047500

	
3958.33

	
20110201

	
0

	
35


	
292

	
1

	
120

	
0

	  	
950000.00

	
0.048000

	
3800.00

	
20110201

	
0

	
35


	
293

	
1

	
120

	
0

	  	
1000000.00

	
0.044500

	
3708.33

	
20110201

	
0

	
35


	
294

	
1

	
120

	
0

	  	
1100000.00

	
0.047000

	
4308.33

	
20110201

	
0

	
35


	
295

	
1

	
120

	
0

	  	
1540000.00

	
0.046500

	
5967.50

	
20110201

	
0

	
35


	
296

	
1

	
120

	
0

	  	
1097354.18

	
0.047500

	
4343.69

	
20110201

	
0

	
35


	
297

	
1

	
120

	
0

	  	
1093000.00

	
0.047000

	
4280.92

	
20110201

	
0

	
35


	
298

	
1

	
0

	
0

	  	
468212.32

	
0.052500

	
2588.46

	
20110201

	
0

	  
	
299

	
1

	
0

	
0

	  	
724387.37

	
0.053750

	
4060.92

	
20110201

	
0

	  
	
300

	
1

	
0

	
0

	  	
715861.33

	
0.050000

	
3842.90

	
20110201

	
0

	  
	
301

	
1

	
0

	
0

	  	
618755.64

	
0.050000

	
3325.61

	
20110201

	
0

	  
	
302

	
1

	
0

	
0

	  	
597398.83

	
0.053750

	
3349.02

	
20110201

	
0

	  








	  	
41

	
42

	
43

	
44

	
45

	
46

	
47

	
48

	
49

	
50


	
KEY

	
ARM Look-back


Days

	
Gross Margin

	
ARM Round Flag

	
ARM Round Factor

	
Initial Fixed Rate


Period

	
Initial Interest Rate


Cap (Change Up)

	
Initial Interest Rate


Cap (Change Down)

	
Subsequent Interest


Rate Reset Period

	
Subsequent Interest


Rate Cap (Change Down)

	
Subsequent Interest


Rate Cap (Change


Up)


	
1

	  	  	  	  	  	  	  	  	  	  
	
2

	  	  	  	  	  	  	  	  	  	  
	
3

	  	  	  	  	  	  	  	  	  	  
	
4

	  	  	  	  	  	  	  	  	  	  
	
5

	  	  	  	  	  	  	  	  	  	  
	
6

	  	  	  	  	  	  	  	  	  	  
	
7

	  	  	  	  	  	  	  	  	  	  
	
8

	  	  	  	  	  	  	  	  	  	  
	
9

	  	  	  	  	  	  	  	  	  	  
	
10

	  	  	  	  	  	  	  	  	  	  
	
11

	  	  	  	  	  	  	  	  	  	  
	
12

	  	  	  	  	  	  	  	  	  	  
	
13

	  	  	  	  	  	  	  	  	  	  
	
14

	  	  	  	  	  	  	  	  	  	  
	
15

	  	  	  	  	  	  	  	  	  	  
	
16

	  	  	  	  	  	  	  	  	  	  
	
17

	  	  	  	  	  	  	  	  	  	  
	
18

	  	  	  	  	  	  	  	  	  	  
	
19

	  	  	  	  	  	  	  	  	  	  
	
20

	  	  	  	  	  	  	  	  	  	  
	
21

	  	  	  	  	  	  	  	  	  	  
	
22

	  	  	  	  	  	  	  	  	  	  
	
23

	  	  	  	  	  	  	  	  	  	  
	
24

	  	  	  	  	  	  	  	  	  	  
	
25

	  	  	  	  	  	  	  	  	  	  
	
26

	  	  	  	  	  	  	  	  	  	  
	
27

	  	  	  	  	  	  	  	  	  	  
	
28

	  	  	  	  	  	  	  	  	  	  
	
29

	  	  	  	  	  	  	  	  	  	  
	
30

	  	  	  	  	  	  	  	  	  	  
	
31

	  	  	  	  	  	  	  	  	  	  
	
32

	  	  	  	  	  	  	  	  	  	  
	
33

	  	  	  	  	  	  	  	  	  	  
	
34

	  	  	  	  	  	  	  	  	  	  
	
35

	  	  	  	  	  	  	  	  	  	  
	
36

	  	  	  	  	  	  	  	  	  	  
	
37

	  	  	  	  	  	  	  	  	  	  
	
38

	  	  	  	  	  	  	  	  	  	  
	
39

	  	  	  	  	  	  	  	  	  	  
	
40

	  	  	  	  	  	  	  	  	  	  
	
41

	  	  	  	  	  	  	  	  	  	  
	
42

	  	  	  	  	  	  	  	  	  	  
	
43

	  	  	  	  	  	  	  	  	  	  
	
44

	  	  	  	  	  	  	  	  	  	  
	
45

	  	  	  	  	  	  	  	  	  	  
	
46

	  	  	  	  	  	  	  	  	  	  
	
47

	  	  	  	  	  	  	  	  	  	  
	
48

	  	  	  	  	  	  	  	  	  	  
	
49

	  	  	  	  	  	  	  	  	  	  
	
50

	  	  	  	  	  	  	  	  	  	  
	
51

	  	  	  	  	  	  	  	  	  	  
	
52

	  	  	  	  	  	  	  	  	  	  
	
53

	  	  	  	  	  	  	  	  	  	  
	
54

	  	  	  	  	  	  	  	  	  	  
	
55

	  	  	  	  	  	  	  	  	  	  
	
56

	  	  	  	  	  	  	  	  	  	  
	
57

	  	  	  	  	  	  	  	  	  	  
	
58

	  	  	  	  	  	  	  	  	  	  
	
59

	  	  	  	  	  	  	  	  	  	  
	
60

	  	  	  	  	  	  	  	  	  	  
	
61

	  	  	  	  	  	  	  	  	  	  
	
62

	  	  	  	  	  	  	  	  	  	  
	
63

	  	  	  	  	  	  	  	  	  	  
	
64

	  	  	  	  	  	  	  	  	  	  
	
65

	  	  	  	  	  	  	  	  	  	  
	
66

	  	  	  	  	  	  	  	  	  	  
	
67

	  	  	  	  	  	  	  	  	  	  
	
68

	  	  	  	  	  	  	  	  	  	  
	
69

	  	  	  	  	  	  	  	  	  	  
	
70

	  	  	  	  	  	  	  	  	  	  
	
71

	  	  	  	  	  	  	  	  	  	  
	
72

	  	  	  	  	  	  	  	  	  	  
	
73

	  	  	  	  	  	  	  	  	  	  
	
74

	  	  	  	  	  	  	  	  	  	  
	
75

	  	  	  	  	  	  	  	  	  	  
	
76

	  	  	  	  	  	  	  	  	  	  
	
77

	  	  	  	  	  	  	  	  	  	  
	
78

	  	  	  	  	  	  	  	  	  	  
	
79

	  	  	  	  	  	  	  	  	  	  
	
80

	  	  	  	  	  	  	  	  	  	  
	
81

	  	  	  	  	  	  	  	  	  	  
	
82

	  	  	  	  	  	  	  	  	  	  
	
83

	  	  	  	  	  	  	  	  	  	  
	
84

	  	  	  	  	  	  	  	  	  	  
	
85

	  	  	  	  	  	  	  	  	  	  
	
86

	  	  	  	  	  	  	  	  	  	  
	
87

	  	  	  	  	  	  	  	  	  	  
	
88

	  	  	  	  	  	  	  	  	  	  
	
89

	  	  	  	  	  	  	  	  	  	  
	
90

	  	  	  	  	  	  	  	  	  	  
	
91

	  	  	  	  	  	  	  	  	  	  
	
92

	  	  	  	  	  	  	  	  	  	  
	
93

	  	  	  	  	  	  	  	  	  	  
	
94

	  	  	  	  	  	  	  	  	  	  
	
95

	  	  	  	  	  	  	  	  	  	  
	
96

	  	  	  	  	  	  	  	  	  	  
	
97

	  	  	  	  	  	  	  	  	  	  
	
98

	  	  	  	  	  	  	  	  	  	  
	
99

	  	  	  	  	  	  	  	  	  	  
	
100

	  	  	  	  	  	  	  	  	  	  
	
101

	  	  	  	  	  	  	  	  	  	  
	
102

	  	  	  	  	  	  	  	  	  	  
	
103

	  	  	  	  	  	  	  	  	  	  
	
104

	  	  	  	  	  	  	  	  	  	  
	
105

	  	  	  	  	  	  	  	  	  	  
	
106

	  	  	  	  	  	  	  	  	  	  
	
107

	  	  	  	  	  	  	  	  	  	  
	
108

	  	  	  	  	  	  	  	  	  	  
	
109

	  	  	  	  	  	  	  	  	  	  
	
110

	  	  	  	  	  	  	  	  	  	  
	
111

	  	  	  	  	  	  	  	  	  	  
	
112

	  	  	  	  	  	  	  	  	  	  
	
113

	  	  	  	  	  	  	  	  	  	  
	
114

	  	  	  	  	  	  	  	  	  	  
	
115

	  	  	  	  	  	  	  	  	  	  
	
116

	  	  	  	  	  	  	  	  	  	  
	
117

	  	  	  	  	  	  	  	  	  	  
	
118

	  	  	  	  	  	  	  	  	  	  
	
119

	  	  	  	  	  	  	  	  	  	  
	
120

	  	  	  	  	  	  	  	  	  	  
	
121

	  	  	  	  	  	  	  	  	  	  
	
122

	  	  	  	  	  	  	  	  	  	  
	
123

	  	  	  	  	  	  	  	  	  	  
	
124

	  	  	  	  	  	  	  	  	  	  
	
125

	  	  	  	  	  	  	  	  	  	  
	
126

	  	  	  	  	  	  	  	  	  	  
	
127

	  	  	  	  	  	  	  	  	  	  
	
128

	  	  	  	  	  	  	  	  	  	  
	
129

	  	  	  	  	  	  	  	  	  	  
	
130

	  	  	  	  	  	  	  	  	  	  
	
131

	  	  	  	  	  	  	  	  	  	  
	
132

	  	  	  	  	  	  	  	  	  	  
	
133

	  	  	  	  	  	  	  	  	  	  
	
134

	  	  	  	  	  	  	  	  	  	  
	
135

	  	  	  	  	  	  	  	  	  	  
	
136

	  	  	  	  	  	  	  	  	  	  
	
137

	  	  	  	  	  	  	  	  	  	  
	
138

	  	  	  	  	  	  	  	  	  	  
	
139

	  	  	  	  	  	  	  	  	  	  
	
140

	  	  	  	  	  	  	  	  	  	  
	
141

	  	  	  	  	  	  	  	  	  	  
	
142

	  	  	  	  	  	  	  	  	  	  
	
143

	  	  	  	  	  	  	  	  	  	  
	
144

	  	  	  	  	  	  	  	  	  	  
	
145

	  	  	  	  	  	  	  	  	  	  
	
146

	  	  	  	  	  	  	  	  	  	  
	
147

	  	  	  	  	  	  	  	  	  	  
	
148

	  	  	  	  	  	  	  	  	  	  
	
149

	  	  	  	  	  	  	  	  	  	  
	
150

	  	  	  	  	  	  	  	  	  	  
	
151

	  	  	  	  	  	  	  	  	  	  
	
152

	  	  	  	  	  	  	  	  	  	  
	
153

	  	  	  	  	  	  	  	  	  	  
	
154

	  	  	  	  	  	  	  	  	  	  
	
155

	  	  	  	  	  	  	  	  	  	  
	
156

	  	  	  	  	  	  	  	  	  	  
	
157

	  	  	  	  	  	  	  	  	  	  
	
158

	  	  	  	  	  	  	  	  	  	  
	
159

	  	  	  	  	  	  	  	  	  	  
	
160

	  	  	  	  	  	  	  	  	  	  
	
161

	  	  	  	  	  	  	  	  	  	  
	
162

	  	  	  	  	  	  	  	  	  	  
	
163

	  	  	  	  	  	  	  	  	  	  
	
164

	  	  	  	  	  	  	  	  	  	  
	
165

	  	  	  	  	  	  	  	  	  	  
	
166

	  	  	  	  	  	  	  	  	  	  
	
167

	  	  	  	  	  	  	  	  	  	  
	
168

	  	  	  	  	  	  	  	  	  	  
	
169

	  	  	  	  	  	  	  	  	  	  
	
170

	  	  	  	  	  	  	  	  	  	  
	
171

	  	  	  	  	  	  	  	  	  	  
	
172

	  	  	  	  	  	  	  	  	  	  
	
173

	  	  	  	  	  	  	  	  	  	  
	
174

	  	  	  	  	  	  	  	  	  	  
	
175

	  	  	  	  	  	  	  	  	  	  
	
176

	  	  	  	  	  	  	  	  	  	  
	
177

	  	  	  	  	  	  	  	  	  	  
	
178

	  	  	  	  	  	  	  	  	  	  
	
179

	  	  	  	  	  	  	  	  	  	  
	
180

	  	  	  	  	  	  	  	  	  	  
	
181

	  	  	  	  	  	  	  	  	  	  
	
182

	  	  	  	  	  	  	  	  	  	  
	
183

	  	  	  	  	  	  	  	  	  	  
	
184

	  	  	  	  	  	  	  	  	  	  
	
185

	  	  	  	  	  	  	  	  	  	  
	
186

	  	  	  	  	  	  	  	  	  	  
	
187

	  	  	  	  	  	  	  	  	  	  
	
188

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
189

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
190

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
191

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
192

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
193

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
194

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
195

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
196

	
15

	
0.011000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
197

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
198

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
199

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
200

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
201

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
202

	
15

	
0.011000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
203

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
204

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
205

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
206

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
207

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
208

	
15

	
0.012000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
209

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
210

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
211

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
212

	
15

	
0.010000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
213

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
214

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
215

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
216

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
217

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
218

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
219

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
220

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
221

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
222

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
223

	
15

	
0.013000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
224

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
225

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
226

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
227

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
228

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
229

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
230

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
231

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
232

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
233

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
234

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
235

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
236

	
15

	
0.011500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
237

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
238

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
239

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
240

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
241

	
15

	
0.010500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
242

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
243

	
15

	
0.011500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
244

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
245

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
246

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
247

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
248

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
249

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
250

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
251

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
252

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
253

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
254

	
15

	
0.011000

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
255

	
15

	
0.014500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
256

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
257

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
258

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
259

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
260

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
261

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
262

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
263

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
264

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
265

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
266

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
267

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
268

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
269

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
270

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
271

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
272

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
273

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
274

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
275

	
15

	
0.016500

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
276

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
277

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
278

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
279

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
280

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
281

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
282

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
283

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
284

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
285

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
286

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
287

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
288

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
289

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
290

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
291

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
292

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
293

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
294

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
295

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
296

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
297

	
15

	
0.016250

	
3

	
0.001250

	
120

	
99

	
99

	
1

	
99

	
99


	
298

	  	  	  	  	  	  	  	  	  	  
	
299

	  	  	  	  	  	  	  	  	  	  
	
300

	  	  	  	  	  	  	  	  	  	  
	
301

	  	  	  	  	  	  	  	  	  	  
	
302

	  	  	  	  	  	  	  	  	  	  





 




	  	
51

	
52

	
53

	
54

	
55

	
56

	
57

	
58

	
59

	
60


	
KEY

	
Lifetime Maximum


Rate (Ceiling)

	
Lifetime Minimum


Rate (Floor)

	
Negative


Amortization Limit

	
Initial Negative


Amortization Recast


Period

	
Subsequent


Negative


Amortization Recast


Period

	
Initial Fixed


Payment Period

	
Subsequent


Payment Reset


Period

	
Initial Periodic


Payment Cap

	
Subsequent


Periodic Payment


Cap

	
Initial Minimum


Payment Reset


Period


	
1

	  	  	  	  	  	  	  	  	  	  
	
2

	  	  	  	  	  	  	  	  	  	  
	
3

	  	  	  	  	  	  	  	  	  	  
	
4

	  	  	  	  	  	  	  	  	  	  
	
5

	  	  	  	  	  	  	  	  	  	  
	
6

	  	  	  	  	  	  	  	  	  	  
	
7

	  	  	  	  	  	  	  	  	  	  
	
8

	  	  	  	  	  	  	  	  	  	  
	
9

	  	  	  	  	  	  	  	  	  	  
	
10

	  	  	  	  	  	  	  	  	  	  
	
11

	  	  	  	  	  	  	  	  	  	  
	
12

	  	  	  	  	  	  	  	  	  	  
	
13

	  	  	  	  	  	  	  	  	  	  
	
14

	  	  	  	  	  	  	  	  	  	  
	
15

	  	  	  	  	  	  	  	  	  	  
	
16

	  	  	  	  	  	  	  	  	  	  
	
17

	  	  	  	  	  	  	  	  	  	  
	
18

	  	  	  	  	  	  	  	  	  	  
	
19

	  	  	  	  	  	  	  	  	  	  
	
20

	  	  	  	  	  	  	  	  	  	  
	
21

	  	  	  	  	  	  	  	  	  	  
	
22

	  	  	  	  	  	  	  	  	  	  
	
23

	  	  	  	  	  	  	  	  	  	  
	
24

	  	  	  	  	  	  	  	  	  	  
	
25

	  	  	  	  	  	  	  	  	  	  
	
26

	  	  	  	  	  	  	  	  	  	  
	
27

	  	  	  	  	  	  	  	  	  	  
	
28

	  	  	  	  	  	  	  	  	  	  
	
29

	  	  	  	  	  	  	  	  	  	  
	
30

	  	  	  	  	  	  	  	  	  	  
	
31

	  	  	  	  	  	  	  	  	  	  
	
32

	  	  	  	  	  	  	  	  	  	  
	
33

	  	  	  	  	  	  	  	  	  	  
	
34

	  	  	  	  	  	  	  	  	  	  
	
35

	  	  	  	  	  	  	  	  	  	  
	
36

	  	  	  	  	  	  	  	  	  	  
	
37

	  	  	  	  	  	  	  	  	  	  
	
38

	  	  	  	  	  	  	  	  	  	  
	
39

	  	  	  	  	  	  	  	  	  	  
	
40

	  	  	  	  	  	  	  	  	  	  
	
41

	  	  	  	  	  	  	  	  	  	  
	
42

	  	  	  	  	  	  	  	  	  	  
	
43

	  	  	  	  	  	  	  	  	  	  
	
44

	  	  	  	  	  	  	  	  	  	  
	
45

	  	  	  	  	  	  	  	  	  	  
	
46

	  	  	  	  	  	  	  	  	  	  
	
47

	  	  	  	  	  	  	  	  	  	  
	
48

	  	  	  	  	  	  	  	  	  	  
	
49

	  	  	  	  	  	  	  	  	  	  
	
50

	  	  	  	  	  	  	  	  	  	  
	
51

	  	  	  	  	  	  	  	  	  	  
	
52

	  	  	  	  	  	  	  	  	  	  
	
53

	  	  	  	  	  	  	  	  	  	  
	
54

	  	  	  	  	  	  	  	  	  	  
	
55

	  	  	  	  	  	  	  	  	  	  
	
56

	  	  	  	  	  	  	  	  	  	  
	
57

	  	  	  	  	  	  	  	  	  	  
	
58

	  	  	  	  	  	  	  	  	  	  
	
59

	  	  	  	  	  	  	  	  	  	  
	
60

	  	  	  	  	  	  	  	  	  	  
	
61

	  	  	  	  	  	  	  	  	  	  
	
62

	  	  	  	  	  	  	  	  	  	  
	
63

	  	  	  	  	  	  	  	  	  	  
	
64

	  	  	  	  	  	  	  	  	  	  
	
65

	  	  	  	  	  	  	  	  	  	  
	
66

	  	  	  	  	  	  	  	  	  	  
	
67

	  	  	  	  	  	  	  	  	  	  
	
68

	  	  	  	  	  	  	  	  	  	  
	
69

	  	  	  	  	  	  	  	  	  	  
	
70

	  	  	  	  	  	  	  	  	  	  
	
71

	  	  	  	  	  	  	  	  	  	  
	
72

	  	  	  	  	  	  	  	  	  	  
	
73

	  	  	  	  	  	  	  	  	  	  
	
74

	  	  	  	  	  	  	  	  	  	  
	
75

	  	  	  	  	  	  	  	  	  	  
	
76

	  	  	  	  	  	  	  	  	  	  
	
77

	  	  	  	  	  	  	  	  	  	  
	
78

	  	  	  	  	  	  	  	  	  	  
	
79

	  	  	  	  	  	  	  	  	  	  
	
80

	  	  	  	  	  	  	  	  	  	  
	
81

	  	  	  	  	  	  	  	  	  	  
	
82

	  	  	  	  	  	  	  	  	  	  
	
83

	  	  	  	  	  	  	  	  	  	  
	
84

	  	  	  	  	  	  	  	  	  	  
	
85

	  	  	  	  	  	  	  	  	  	  
	
86

	  	  	  	  	  	  	  	  	  	  
	
87

	  	  	  	  	  	  	  	  	  	  
	
88

	  	  	  	  	  	  	  	  	  	  
	
89

	  	  	  	  	  	  	  	  	  	  
	
90

	  	  	  	  	  	  	  	  	  	  
	
91

	  	  	  	  	  	  	  	  	  	  
	
92

	  	  	  	  	  	  	  	  	  	  
	
93

	  	  	  	  	  	  	  	  	  	  
	
94

	  	  	  	  	  	  	  	  	  	  
	
95

	  	  	  	  	  	  	  	  	  	  
	
96

	  	  	  	  	  	  	  	  	  	  
	
97

	  	  	  	  	  	  	  	  	  	  
	
98

	  	  	  	  	  	  	  	  	  	  
	
99

	  	  	  	  	  	  	  	  	  	  
	
100

	  	  	  	  	  	  	  	  	  	  
	
101

	  	  	  	  	  	  	  	  	  	  
	
102

	  	  	  	  	  	  	  	  	  	  
	
103

	  	  	  	  	  	  	  	  	  	  
	
104

	  	  	  	  	  	  	  	  	  	  
	
105

	  	  	  	  	  	  	  	  	  	  
	
106

	  	  	  	  	  	  	  	  	  	  
	
107

	  	  	  	  	  	  	  	  	  	  
	
108

	  	  	  	  	  	  	  	  	  	  
	
109

	  	  	  	  	  	  	  	  	  	  
	
110

	  	  	  	  	  	  	  	  	  	  
	
111

	  	  	  	  	  	  	  	  	  	  
	
112

	  	  	  	  	  	  	  	  	  	  
	
113

	  	  	  	  	  	  	  	  	  	  
	
114

	  	  	  	  	  	  	  	  	  	  
	
115

	  	  	  	  	  	  	  	  	  	  
	
116

	  	  	  	  	  	  	  	  	  	  
	
117

	  	  	  	  	  	  	  	  	  	  
	
118

	  	  	  	  	  	  	  	  	  	  
	
119

	  	  	  	  	  	  	  	  	  	  
	
120

	  	  	  	  	  	  	  	  	  	  
	
121

	  	  	  	  	  	  	  	  	  	  
	
122

	  	  	  	  	  	  	  	  	  	  
	
123

	  	  	  	  	  	  	  	  	  	  
	
124

	  	  	  	  	  	  	  	  	  	  
	
125

	  	  	  	  	  	  	  	  	  	  
	
126

	  	  	  	  	  	  	  	  	  	  
	
127

	  	  	  	  	  	  	  	  	  	  
	
128

	  	  	  	  	  	  	  	  	  	  
	
129

	  	  	  	  	  	  	  	  	  	  
	
130

	  	  	  	  	  	  	  	  	  	  
	
131

	  	  	  	  	  	  	  	  	  	  
	
132

	  	  	  	  	  	  	  	  	  	  
	
133

	  	  	  	  	  	  	  	  	  	  
	
134

	  	  	  	  	  	  	  	  	  	  
	
135

	  	  	  	  	  	  	  	  	  	  
	
136

	  	  	  	  	  	  	  	  	  	  
	
137

	  	  	  	  	  	  	  	  	  	  
	
138

	  	  	  	  	  	  	  	  	  	  
	
139

	  	  	  	  	  	  	  	  	  	  
	
140

	  	  	  	  	  	  	  	  	  	  
	
141

	  	  	  	  	  	  	  	  	  	  
	
142

	  	  	  	  	  	  	  	  	  	  
	
143

	  	  	  	  	  	  	  	  	  	  
	
144

	  	  	  	  	  	  	  	  	  	  
	
145

	  	  	  	  	  	  	  	  	  	  
	
146

	  	  	  	  	  	  	  	  	  	  
	
147

	  	  	  	  	  	  	  	  	  	  
	
148

	  	  	  	  	  	  	  	  	  	  
	
149

	  	  	  	  	  	  	  	  	  	  
	
150

	  	  	  	  	  	  	  	  	  	  
	
151

	  	  	  	  	  	  	  	  	  	  
	
152

	  	  	  	  	  	  	  	  	  	  
	
153

	  	  	  	  	  	  	  	  	  	  
	
154

	  	  	  	  	  	  	  	  	  	  
	
155

	  	  	  	  	  	  	  	  	  	  
	
156

	  	  	  	  	  	  	  	  	  	  
	
157

	  	  	  	  	  	  	  	  	  	  
	
158

	  	  	  	  	  	  	  	  	  	  
	
159

	  	  	  	  	  	  	  	  	  	  
	
160

	  	  	  	  	  	  	  	  	  	  
	
161

	  	  	  	  	  	  	  	  	  	  
	
162

	  	  	  	  	  	  	  	  	  	  
	
163

	  	  	  	  	  	  	  	  	  	  
	
164

	  	  	  	  	  	  	  	  	  	  
	
165

	  	  	  	  	  	  	  	  	  	  
	
166

	  	  	  	  	  	  	  	  	  	  
	
167

	  	  	  	  	  	  	  	  	  	  
	
168

	  	  	  	  	  	  	  	  	  	  
	
169

	  	  	  	  	  	  	  	  	  	  
	
170

	  	  	  	  	  	  	  	  	  	  
	
171

	  	  	  	  	  	  	  	  	  	  
	
172

	  	  	  	  	  	  	  	  	  	  
	
173

	  	  	  	  	  	  	  	  	  	  
	
174

	  	  	  	  	  	  	  	  	  	  
	
175

	  	  	  	  	  	  	  	  	  	  
	
176

	  	  	  	  	  	  	  	  	  	  
	
177

	  	  	  	  	  	  	  	  	  	  
	
178

	  	  	  	  	  	  	  	  	  	  
	
179

	  	  	  	  	  	  	  	  	  	  
	
180

	  	  	  	  	  	  	  	  	  	  
	
181

	  	  	  	  	  	  	  	  	  	  
	
182

	  	  	  	  	  	  	  	  	  	  
	
183

	  	  	  	  	  	  	  	  	  	  
	
184

	  	  	  	  	  	  	  	  	  	  
	
185

	  	  	  	  	  	  	  	  	  	  
	
186

	  	  	  	  	  	  	  	  	  	  
	
187

	  	  	  	  	  	  	  	  	  	  
	
188

	
0.105000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
189

	
0.103000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
190

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
191

	
0.100000

	
0.014500

	  	  	  	  	
1

	  	  	  
	
192

	
0.103000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
193

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
194

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
195

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
196

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
197

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
198

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
199

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
200

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
201

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
202

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
203

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
204

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
205

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
206

	
0.102000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
207

	
0.105500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
208

	
0.100500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
209

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
210

	
0.102000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
211

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
212

	
0.101000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
213

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
214

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
215

	
0.103000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
216

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
217

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
218

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
219

	
0.104500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
220

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
221

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
222

	
0.101000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
223

	
0.103500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
224

	
0.094500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
225

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
226

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
227

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
228

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
229

	
0.100500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
230

	
0.104500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
231

	
0.102500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
232

	
0.103000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
233

	
0.103000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
234

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
235

	
0.105000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
236

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
237

	
0.104500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
238

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
239

	
0.105500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
240

	
0.101000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
241

	
0.101000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
242

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
243

	
0.100500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
244

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
245

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
246

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
247

	
0.103500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
248

	
0.105000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
249

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
250

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
251

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
252

	
0.104000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
253

	
0.105500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
254

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
255

	
0.104500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
256

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
257

	
0.099500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
258

	
0.103500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
259

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
260

	
0.105000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
261

	
0.097500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
262

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
263

	
0.101500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
264

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
265

	
0.097500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
266

	
0.100500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
267

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
268

	
0.095000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
269

	
0.100500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
270

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
271

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
272

	
0.095500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
273

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
274

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
275

	
0.099000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
276

	
0.100000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
277

	
0.095500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
278

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
279

	
0.095000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
280

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
281

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
282

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
283

	
0.097000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
284

	
0.094500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
285

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
286

	
0.098500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
287

	
0.094000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
288

	
0.097500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
289

	
0.096000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
290

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
291

	
0.097500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
292

	
0.098000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
293

	
0.094500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
294

	
0.097000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
295

	
0.096500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
296

	
0.097500

	
0.029000

	  	  	  	  	
1

	  	  	  
	
297

	
0.097000

	
0.029000

	  	  	  	  	
1

	  	  	  
	
298

	  	  	  	  	  	  	  	  	  	  
	
299

	  	  	  	  	  	  	  	  	  	  
	
300

	  	  	  	  	  	  	  	  	  	  
	
301

	  	  	  	  	  	  	  	  	  	  
	
302

	  	  	  	  	  	  	  	  	  	  





 




	  	
61

	
62

	
63

	
64

	
65

	
66

	
67

	
68

	
69

	
70


	
KEY

	
Subsequent


Minimum Payment


Reset Period

	
Option ARM


Indicator

	
Options at Recast

	
Initial Minimum


Payment

	
Current Minimum


Payment

	
Prepayment Penalty


Calculation

	
Prepayment Penalty


Type

	
Prepayment Penalty


Total Term

	
Prepayment Penalty


Hard Term

	
Primary Borrower ID


	
1

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
2

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
3

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
4

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
5

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
6

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
7

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
8

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
9

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
10

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
11

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
12

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
13

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
14

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
15

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
16

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
17

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
18

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
19

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
20

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
21

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
22

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
23

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
24

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
25

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
26

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
27

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
28

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
29

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
30

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
31

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
32

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
33

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
34

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
35

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
36

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
37

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
38

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
39

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
40

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
41

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
42

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
43

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
44

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
45

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
46

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
47

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
48

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
49

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
50

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
51

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
52

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
53

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
54

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
55

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
56

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
57

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
58

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
59

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
60

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
61

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
62

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
63

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
64

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
65

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
66

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
67

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
68

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
69

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
70

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
71

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
72

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
73

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
74

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
75

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
76

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
77

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
78

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
79

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
80

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
81

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
82

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
83

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
84

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
85

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
86

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
87

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
88

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
89

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
90

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
91

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
92

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
93

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
94

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
95

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
96

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
97

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
98

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
99

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
100

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
101

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
102

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
103

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
104

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
105

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
106

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
107

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
108

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
109

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
110

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
111

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
112

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
113

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
114

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
115

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
116

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
117

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
118

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
119

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
120

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
121

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
122

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
123

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
124

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
125

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
126

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
127

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
128

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
129

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
130

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
131

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
132

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
133

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
134

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
135

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
136

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
137

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
138

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
139

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
140

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
141

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
142

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
143

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
144

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
145

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
146

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
147

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
148

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
149

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
150

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
151

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
152

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
153

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
154

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
155

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
156

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
157

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
158

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
159

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
160

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
161

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
162

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
163

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
164

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
165

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
166

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
167

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
168

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
169

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
170

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
171

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
172

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
173

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
174

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
175

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
176

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
177

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
178

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
179

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
180

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
181

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
182

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
183

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
184

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
185

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
186

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
187

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
188

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
189

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
190

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
191

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
192

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
193

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
194

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
195

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
196

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
197

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
198

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
199

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
200

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
201

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
202

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
203

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
204

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
205

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
206

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
207

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
208

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
209

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
210

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
211

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
212

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
213

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
214

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
215

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
216

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
217

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
218

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
219

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
220

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
221

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
222

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
223

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
224

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
225

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
226

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
227

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
228

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
229

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
230

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
231

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
232

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
233

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
234

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
235

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
236

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
237

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
238

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
239

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
240

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
241

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
242

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
243

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
244

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
245

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
246

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
247

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
248

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
249

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
250

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
251

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
252

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
253

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
254

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
255

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
256

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
257

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
258

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
259

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
260

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
261

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
262

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
263

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
264

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
265

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
266

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
267

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
268

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
269

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
270

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
271

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
272

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
273

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
274

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
275

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
276

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
277

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
278

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
279

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
280

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
281

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
282

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
283

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
284

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
285

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
286

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
287

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
288

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
289

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
290

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
291

	  	
0

	  	  	  	
20

	
1

	
36

	
36

	  
	
292

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
293

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
294

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
295

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
296

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
297

	  	
0

	  	  	  	
20

	
1

	
60

	
60

	  
	
298

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
299

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
300

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
301

	  	
0

	  	  	  	
0

	  	
0

	
0

	  
	
302

	  	
0

	  	  	  	
0

	  	
0

	
0

	  





 




	  	
71

	
72

	
73

	
74

	
75

	
76

	
77

	
78

	
79

	
80


	
KEY

	
Number of


Mortgaged


Properties

	
Total Number of


Borrowers

	
Self-employment


Flag

	
Current ‘Other’


Monthly Payment

	
Length of


Employment:


Borrower

	
Length of


Employment: Co-


Borrower

	
Years in Home

	
FICO Model Used

	
Most Recent FICO


Date

	
Primary Wage


Earner Original


FICO: Equifax


	
1

	
1

	  	
1

	
591.00

	
3.5

	
0

	
0.67

	
1

	
20101217

	  
	
2

	
1

	  	
1

	
3026.11

	
20

	  	
0.67

	
1

	
20110121

	  
	
3

	
2

	  	
1

	
848.00

	
29.4

	
0

	
15.42

	
1

	
20110121

	  
	
4

	
2

	  	
1

	
2578.00

	
15.7

	
15.3

	
10.42

	
1

	  	  
	
5

	
2

	  	
1

	
566.00

	
6.5

	
99

	
16

	
1

	
20101217

	  
	
6

	
1

	  	
0

	
1885.00

	
6.5

	  	
1.5

	
1

	  	  
	
7

	
1

	  	
1

	
1427.00

	
29.93

	
0

	
3.92

	
1

	  	  
	
8

	
2

	  	
1

	
19780.00

	
33.4

	
3.5

	
38

	
1

	  	  
	
9

	
1

	  	
0

	
211.00

	
5.7

	
12

	
1.75

	
1

	  	  
	
10

	
1

	  	
1

	
933.00

	
2

	
0

	
3.5

	
1

	  	  
	
11

	
1

	  	
0

	
1934.00

	
2.3

	
4.2

	
2.08

	
1

	  	  
	
12

	
1

	  	
0

	
6894.00

	
22

	  	
0.5

	
1

	  	  
	
13

	
2

	  	
1

	
5527.15

	
13.3

	
13.3

	
7.92

	
1

	  	  
	
14

	
2

	  	
1

	
10954.31

	
23

	
0

	
2.83

	
1

	  	  
	
15

	
1

	  	
1

	
3356.69

	
21.6

	
0

	
10.58

	
1

	  	  
	
16

	
1

	  	
1

	
65.00

	
7.8

	
14.1

	
10.58

	
1

	  	  
	
17

	
1

	  	
1

	
1157.00

	
29.5

	
29.5

	
20.58

	
1

	  	  
	
18

	
1

	  	
0

	
360.22

	
9

	
0

	
1.25

	
1

	  	  
	
19

	
1

	  	
1

	
1241.00

	
10

	
0

	
4.08

	
1

	  	  
	
20

	
2

	  	
0

	
4780.00

	
10.5

	  	
12

	
1

	  	  
	
21

	
1

	  	
0

	
451.00

	
3

	
0

	
12.25

	
1

	  	  
	
22

	
1

	  	
0

	
290.00

	
15.4

	
12.6

	
4.58

	
1

	  	  
	
23

	
2

	  	
1

	
4960.00

	
12

	
0

	
9.67

	
1

	  	  
	
24

	
1

	  	
1

	
3213.73

	
28

	
0

	
29

	
1

	  	  
	
25

	
1

	  	
0

	
30.00

	
17.2

	
11

	
3.75

	
1

	  	  
	
26

	
1

	  	
0

	
8139.00

	
23.4

	  	  	
1

	  	  
	
27

	
1

	  	
0

	
2509.00

	
10.51

	
0

	
3

	
1

	
20110121

	  
	
28

	
1

	  	
1

	
126.00

	
10.4

	
10.4

	
3.33

	
1

	  	  
	
29

	
1

	  	
1

	
2293.00

	
8

	  	
6

	
1

	  	  
	
30

	
1

	  	
1

	
2353.00

	
3.67

	
0

	
5.33

	
1

	  	  
	
31

	
2

	  	
0

	
5726.00

	
4.4

	
0

	  	
1

	  	  
	
32

	
1

	  	
0

	
661.00

	
0.2

	
0.4

	  	
1

	
20110121

	  
	
33

	
1

	  	
0

	
157.00

	
18.8

	  	
4

	
1

	
20101217

	  
	
34

	
1

	  	
0

	
969.00

	
2.4

	  	
6.5

	
1

	
20101217

	  
	
35

	
1

	  	
0

	
1621.00

	
21

	  	
3

	
1

	
20101217

	  
	
36

	
1

	  	
0

	
1686.00

	
0.2

	
0.5

	
1

	
1

	
20101217

	  
	
37

	
1

	  	
0

	
8055.00

	
1.7

	
3.5

	
4.5

	
1

	
20101217

	  
	
38

	
1

	  	
0

	
724.79

	
4.8

	  	
4.17

	
1

	  	  
	
39

	
1

	  	
0

	
960.00

	
0.1

	
0

	
12.25

	
1

	
20101217

	  
	
40

	
2

	  	
1

	
4744.96

	
20.5

	  	
5.5

	
1

	
20101217

	  
	
41

	
1

	  	
0

	
1638.33

	
8.6

	
0

	
4.75

	
1

	
20101217

	  
	
42

	
1

	  	
0

	
206.00

	
25.1

	
0

	
4.5

	
1

	
20101217

	  
	
43

	
1

	  	
0

	
2873.00

	
0

	
9.1

	
10

	
1

	
20101217

	  
	
44

	
1

	  	
0

	
2062.00

	
7.5

	
0

	
0.08

	
1

	
20110121

	  
	
45

	
1

	  	
0

	
1184.00

	
22

	  	
0.25

	
1

	  	  
	
46

	
1

	  	
0

	
538.00

	
2.9

	
0.9

	
5.17

	
1

	
20110121

	  
	
47

	
1

	  	
0

	
1234.00

	
12.1

	  	
12

	
1

	
20101217

	  
	
48

	
1

	  	
0

	
706.00

	
0.7

	  	
6

	
1

	
20101217

	  
	
49

	
1

	  	
1

	
3342.00

	
16.6

	  	
18.75

	
1

	
20110121

	  
	
50

	
1

	  	
0

	
2333.00

	
5.7

	
0

	
6.92

	
1

	
20110121

	  
	
51

	
1

	  	
0

	
483.00

	
0

	
15.3

	
4

	
1

	
20101217

	  
	
52

	
1

	  	
0

	
2471.00

	
2.6

	
0

	
7.5

	
1

	
20101217

	  
	
53

	
1

	  	
0

	
141.00

	
0

	
4.8

	
2

	
1

	  	  
	
54

	
1

	  	
0

	
2381.00

	
0.4

	
0

	
3.42

	
1

	
20101217

	  
	
55

	
1

	  	
1

	
2707.04

	
8

	  	
2.33

	
1

	
20110121

	  
	
56

	
1

	  	
0

	
275.00

	
22.6

	  	
1

	
1

	
20101217

	  
	
57

	
1

	  	
1

	
635.00

	
0

	
1.2

	
9.33

	
1

	  	  
	
58

	
3

	  	
1

	
243.00

	
18

	
0

	
10

	
1

	  	  
	
59

	
1

	  	
0

	
1796.00

	
26

	
5

	
3.25

	
1

	  	  
	
60

	
1

	  	
0

	
926.28

	
13

	
0

	
15.67

	
1

	
20110121

	  
	
61

	
3

	  	
0

	
505.00

	
25.6

	
0

	  	
1

	
20110121

	  
	
62

	
1

	  	
1

	
495.00

	
22.3

	
0

	
3

	
1

	  	  
	
63

	
2

	  	
1

	
2477.54

	
9.8

	
9.8

	  	
1

	  	  
	
64

	
1

	  	
0

	
141.00

	
2

	
0

	
3.92

	
1

	  	  
	
65

	
1

	  	
1

	
701.00

	
13.9

	  	
8.5

	
1

	
20110121

	  
	
66

	
1

	  	
1

	
885.00

	
32

	
0

	
22

	
1

	
20110121

	  
	
67

	
1

	  	
0

	
576.00

	
19.2

	  	  	
1

	  	  
	
68

	
3

	  	
1

	
15383.00

	
8.5

	  	
5.17

	
1

	  	  
	
69

	
1

	  	
0

	
485.00

	
0

	
3.3

	  	
1

	
20110121

	  
	
70

	
2

	  	
0

	
20345.83

	
2.6

	
8.6

	
2.5

	
1

	  	  
	
71

	
1

	  	
0

	
663.00

	
6.5

	
6.25

	
2.75

	
1

	  	  
	
72

	
1

	  	
0

	
4084.00

	
9.4

	
0.3

	
5

	
1

	  	  
	
73

	
1

	  	
0

	
1603.00

	
3.8

	
20.8

	
17.5

	
1

	  	  
	
74

	
1

	  	
0

	
69.00

	
99

	
99

	
5.17

	
1

	  	  
	
75

	
1

	  	
0

	
174.00

	
2.3

	
0

	
1.92

	
1

	  	  
	
76

	
1

	  	
0

	
698.00

	
10.6

	
10.5

	
6.67

	
1

	  	  
	
77

	
2

	  	
0

	
20326.36

	
0

	
22

	
13.5

	
1

	  	  
	
78

	
1

	  	
0

	
819.00

	
13.1

	
0

	  	
1

	
20110121

	  
	
79

	
1

	  	
0

	
1052.90

	
0.5

	
1

	
0

	
1

	
20110121

	  
	
80

	
1

	  	
0

	
3705.00

	
3.1

	  	
3

	
1

	  	  
	
81

	
1

	  	
1

	
3606.00

	
31

	  	
10

	
1

	  	  
	
82

	
2

	  	
0

	
1147.47

	
27.7

	
0

	  	
1

	  	  
	
83

	
1

	  	
0

	
1902.00

	
0.42

	
10.59

	
2.83

	
1

	
20110121

	  
	
84

	
1

	  	
0

	
370.00

	
22

	
0.1

	  	
1

	
20110121

	  
	
85

	
1

	  	
0

	
1296.26

	
8.2

	  	
7.17

	
1

	  	  
	
86

	
1

	  	
0

	
1242.00

	
0

	
3.2

	
7.08

	
1

	  	  
	
87

	
1

	  	
0

	
15822.45

	
0.1

	  	
5.08

	
1

	  	  
	
88

	
1

	  	
1

	
3881.19

	
6

	
0

	
0.3

	
1

	  	  
	
89

	
1

	  	
0

	
2422.58

	
5.8

	
0

	  	
1

	  	  
	
90

	
1

	  	
0

	
1524.00

	
3.6

	  	
14.08

	
1

	  	  
	
91

	
1

	  	
0

	
4114.25

	
14.7

	
0

	
8.58

	
1

	
20110121

	  
	
92

	
1

	  	
0

	
289.00

	
3.2

	  	
3.67

	
1

	  	  
	
93

	
1

	  	
0

	
586.00

	
16.67

	  	
0.67

	
1

	  	  
	
94

	
1

	  	
0

	
1926.00

	
1.4

	
0

	
12.33

	
1

	  	  
	
95

	
4

	  	
1

	
17348.00

	
11.2

	
8.3

	
6.25

	
1

	  	  
	
96

	
1

	  	
0

	
45.00

	
99

	
99

	
11

	
1

	  	  
	
97

	
1

	  	
0

	
628.00

	
3.2

	  	
2.83

	
1

	  	  
	
98

	
1

	  	
0

	
932.00

	
15

	
0

	  	
1

	  	  
	
99

	
2

	  	
1

	
5253.00

	
0

	
12.5

	
9.5

	
1

	  	  
	
100

	
1

	  	
0

	
128.00

	
4.5

	  	
3.25

	
1

	  	  
	
101

	
1

	  	
0

	
164.00

	
8.7

	
5.7

	
10.58

	
1

	  	  
	
102

	
1

	  	
0

	
1070.00

	
0.7

	
0

	
12.58

	
1

	  	  
	
103

	
2

	  	
1

	
16661.16

	
10

	
10

	  	
1

	  	  
	
104

	
1

	  	
0

	
1254.00

	
3

	
0

	
3.67

	
1

	  	  
	
105

	
1

	  	
0

	
1781.00

	
7.9

	
0

	
4.17

	
1

	  	  
	
106

	
1

	  	
1

	
65.00

	
6

	
0

	
1

	
1

	  	  
	
107

	
2

	  	
0

	
1190.00

	
3.5

	
0

	
2.58

	
1

	  	  
	
108

	
1

	  	
1

	
2446.00

	
33

	
0

	
3.83

	
1

	  	  
	
109

	
1

	  	
0

	
90.00

	
12

	  	
1.5

	
1

	  	  
	
110

	
1

	  	
0

	
978.00

	
22

	
0

	
8.5

	
1

	  	  
	
111

	
1

	  	
1

	
1332.00

	
20

	  	
9.33

	
1

	  	  
	
112

	
1

	  	
0

	
82.00

	
7.3

	
0

	  	
1

	  	  
	
113

	
2

	  	
0

	
5980.92

	
99

	
0

	  	
1

	  	  
	
114

	
2

	  	
1

	
254.34

	
99

	
99

	
11.75

	
1

	  	  
	
115

	
1

	  	
0

	
1307.00

	
0.3

	  	  	
1

	  	  
	
116

	
2

	  	
0

	
4679.57

	
11.67

	
0

	
1.33

	
1

	  	  
	
117

	
1

	  	
0

	
95.00

	
4.1

	  	
3.58

	
1

	  	  
	
118

	
1

	  	
0

	
95.00

	
7.09

	  	
1.5

	
1

	  	  
	
119

	
2

	  	
0

	
8310.00

	
11.76

	
0

	
9.75

	
1

	  	  
	
120

	
2

	  	
0

	
1807.00

	
8.5

	
0

	
4.08

	
1

	  	  
	
121

	
2

	  	
1

	
2306.00

	
20.9

	
3

	
15.75

	
1

	  	  
	
122

	
2

	  	
0

	
864.66

	
5.09

	
0

	
0.25

	
1

	  	  
	
123

	
1

	  	
0

	
1640.16

	
19.5

	
19.5

	  	
1

	  	  
	
124

	
2

	  	
1

	
16906.67

	
18

	  	
1.67

	
1

	  	  
	
125

	
2

	  	
0

	
3310.35

	
99

	
0

	  	
1

	  	  
	
126

	
3

	  	
0

	
124.00

	
10

	
0

	  	
1

	  	  
	
127

	
2

	  	
0

	
4087.00

	
2.5

	
0

	
5

	
1

	
20101217

	  
	
128

	
2

	  	
1

	
2014.41

	
19

	
0

	
9

	
1

	
20110101

	  
	
129

	
2

	  	
1

	
3566.00

	
12.5

	
0

	
3

	
1

	
20101217

	  
	
130

	
2

	  	
1

	
6472.24

	
27

	
0

	  	
1

	
20110101

	  
	
131

	
1

	  	
0

	
9602.00

	
24

	
0

	
6

	
1

	
20101217

	  
	
132

	
1

	  	
0

	
20.00

	
8

	  	
0

	
1

	
20101217

	  
	
133

	
6

	  	
1

	
306.00

	
1

	  	
2

	
1

	
20101217

	  
	
134

	
1

	  	
0

	
132.00

	
10

	
0

	
2

	
1

	
20101217

	  
	
135

	
1

	  	
0

	
3608.41

	
15

	
6.8

	
6

	
1

	
20101217

	  
	
136

	
1

	  	
0

	
1492.00

	
9.5

	
0

	
4

	
1

	
20101217

	  
	
137

	
1

	  	
0

	
2610.00

	
0.01

	
0.01

	
7

	
1

	
20101217

	  
	
138

	
1

	  	
0

	
566.00

	
13

	
0

	
1

	
1

	
20110121

	  
	
139

	
1

	  	
1

	
1778.00

	
8

	
8

	
6

	
1

	
20101217

	  
	
140

	
1

	  	
0

	
8742.00

	
3

	
10

	
6

	
1

	
20110121

	  
	
141

	
1

	  	
0

	
844.00

	
8

	
0

	
6

	
1

	
20101217

	  
	
142

	
1

	  	
0

	
1246.00

	
10

	
0

	
2

	
1

	
20110121

	  
	
143

	
1

	  	
0

	
2934.00

	
14

	
4

	
6

	
1

	
20110121

	  
	
144

	
1

	  	
0

	
295.00

	
15

	
0

	
5

	
1

	
20110121

	  
	
145

	
1

	  	
0

	
88.00

	
3

	
4.1

	
0

	
1

	
20101217

	  
	
146

	
1

	  	
0

	
1277.00

	
25

	
2

	
4

	
1

	
20110121

	  
	
147

	
1

	  	
0

	
963.00

	
1.5

	
0

	
0

	
1

	
20110121

	  
	
148

	
1

	  	
0

	
1491.00

	
10

	  	
10

	
1

	  	  
	
149

	
1

	  	
0

	
112.00

	
32.6

	
0

	
31

	
1

	
20110121

	  
	
150

	
1

	  	
1

	
1058.00

	
31

	
23.6

	
11

	
1

	
20110121

	  
	
151

	
1

	  	
0

	
1076.00

	
8

	
12

	
5

	
1

	
20110121

	  
	
152

	
1

	  	
0

	
11780.00

	
5

	
0

	
10

	
1

	
20110121

	  
	
153

	
1

	  	
1

	
1193.00

	
5.5

	
0

	
8

	
1

	
20110121

	  
	
154

	
1

	  	
1

	
2220.00

	
7.7

	
0

	
4

	
1

	
20110121

	  
	
155

	
1

	  	
0

	
92.00

	
5

	
0

	
0

	
1

	
20110121

	  
	
156

	
1

	  	
0

	
90.00

	
6

	
0

	
4

	
1

	
20110121

	  
	
157

	
4

	  	
1

	
4573.00

	
19

	
42

	
30

	
1

	
20110121

	  
	
158

	
1

	  	
0

	
3451.00

	
0.5

	
0

	
9

	
1

	  	  
	
159

	
1

	  	
0

	
1407.00

	
5

	  	
2

	
1

	  	  
	
160

	
1

	  	
0

	
5348.00

	
4.5

	
9.5

	
6

	
1

	  	  
	
161

	
1

	  	
0

	
1873.00

	
6

	
4

	
6

	
1

	  	  
	
162

	
1

	  	
0

	
719.00

	
7

	
0

	
7

	
1

	  	  
	
163

	
2

	  	
0

	
4308.75

	
14

	  	
4

	
1

	  	  
	
164

	
1

	  	
0

	
5194.00

	
10

	
0

	
10

	
1

	  	  
	
165

	
6

	  	
0

	
624.00

	
99

	
0

	
30

	
1

	  	  
	
166

	
1

	  	
0

	
413.00

	
6

	
0

	
0

	
1

	  	  
	
167

	
1

	  	
1

	
3893.00

	
20

	
0

	
10

	
1

	  	  
	
168

	
1

	  	
1

	
166.00

	
7

	
0

	
16

	
1

	  	  
	
169

	
1

	  	
0

	
822.00

	
4

	
0

	
7

	
1

	  	  
	
170

	
1

	  	
0

	
1180.00

	
8

	
0

	
8

	
1

	  	  
	
171

	
1

	  	
0

	
2052.00

	
8

	
0

	
9

	
1

	  	  
	
172

	
1

	  	
0

	
363.00

	
9

	
0

	
8

	
1

	  	  
	
173

	
1

	  	
1

	
665.00

	
3.5

	
0

	
5

	
1

	  	  
	
174

	
1

	  	
0

	
5520.00

	
8

	
0

	
7

	
1

	  	  
	
175

	
1

	  	
0

	
74.00

	
7

	
17

	
11

	
1

	  	  
	
176

	
1

	  	
1

	
1015.23

	
8

	
0

	
8

	
1

	  	  
	
177

	
1

	  	
0

	
388.00

	
4.7

	
0

	
7

	
1

	  	  
	
178

	
1

	  	
0

	
870.00

	
4

	
3

	
3

	
1

	  	  
	
179

	
3

	  	
0

	
21701.00

	
1

	
11

	
1

	
1

	  	  
	
180

	
1

	  	
0

	
2155.00

	
3

	
0

	
2

	
1

	  	  
	
181

	
1

	  	
0

	
2787.00

	
38

	
0

	
13

	
1

	  	  
	
182

	
1

	  	
0

	
228.00

	
10.3

	
9

	
5

	
1

	  	  
	
183

	
1

	  	
0

	
1893.00

	
0.4

	
0

	
11

	
1

	  	  
	
184

	
1

	  	
0

	
3052.00

	
17

	
0

	
9

	
1

	  	  
	
185

	
1

	  	
1

	
578.00

	
2

	
25

	
5

	
1

	  	  
	
186

	
1

	  	
0

	
199.00

	
11

	
0

	
23

	
1

	  	  
	
187

	
1

	  	
0

	
639.00

	
0.5

	
0

	
0

	
1

	  	  
	
188

	
1

	  	
0

	
5306.80

	
14

	
0

	
0

	
1

	
20101217

	  
	
189

	
1

	  	
0

	
5481.00

	
6.6

	
0

	
8

	
1

	
20101217

	  
	
190

	
1

	  	
0

	
2053.00

	
16

	
15

	
9

	
1

	
20101217

	  
	
191

	
1

	  	
0

	
1966.78

	
3

	
0

	
1

	
1

	
20101217

	  
	
192

	
1

	  	
0

	
475.00

	
6.7

	
0

	
5

	
1

	
20101217

	  
	
193

	
1

	  	
1

	
106.00

	
8

	
0

	
1

	
1

	
20101217

	  
	
194

	
1

	  	
0

	
1280.75

	
5

	
0

	
1

	
1

	
20101217

	  
	
195

	
1

	  	
0

	
7383.00

	
3

	
0

	
3

	
1

	
20101217

	  
	
196

	
1

	  	
0

	
322.00

	
3

	  	
4

	
1

	
20101217

	  
	
197

	
2

	  	
0

	
4709.36

	
23

	
13

	
15

	
1

	
20101217

	  
	
198

	
2

	  	
0

	
4971.84

	
14

	
0

	
3

	
1

	
20101217

	  
	
199

	
2

	  	
0

	
1478.00

	
0.08

	  	
2

	
1

	
20101217

	  
	
200

	
2

	  	
0

	
1480.00

	
1

	
1

	
4

	
1

	
20101217

	  
	
201

	
1

	  	
0

	
15.00

	
9

	  	
1.9

	
1

	
20101217

	  
	
202

	
1

	  	
1

	
194.00

	
17

	
0

	
2

	
1

	
20101217

	  
	
203

	
2

	  	
0

	
7009.83

	
99

	  	
3

	
1

	
20101217

	  
	
204

	
2

	  	
0

	
6243.60

	
99

	  	
2

	
1

	
20101217

	  
	
205

	
1

	  	
1

	
819.00

	
25

	
13

	
9

	
1

	
20101217

	  
	
206

	
1

	  	
1

	
83.00

	
2.6

	
2.6

	
3

	
1

	
20101217

	  
	
207

	
1

	  	
0

	
8600.00

	
8

	
0

	
3

	
1

	
20101217

	  
	
208

	
1

	  	
0

	
935.40

	
5

	
8

	
2

	
1

	
20101217

	  
	
209

	
3

	  	
0

	
6249.35

	
3

	
13

	  	
1

	
20101217

	  
	
210

	
1

	  	
0

	
5855.00

	
0.5

	
0

	
0.25

	
1

	
20101217

	  
	
211

	
1

	  	
0

	
737.00

	
3

	
0

	
3

	
1

	
20101217

	  
	
212

	
1

	  	
0

	
3693.00

	
8

	
0

	
2

	
1

	
20101217

	  
	
213

	
2

	  	
0

	
7301.00

	
99

	
0

	
8

	
1

	
20101217

	  
	
214

	
2

	  	
0

	
4541.00

	
1

	
0

	
3

	
1

	
20101217

	  
	
215

	
2

	  	
0

	
8926.85

	
9

	  	
1

	
1

	
20101217

	  
	
216

	
1

	  	
0

	
1063.00

	
1

	
4.5

	
11

	
1

	
20101217

	  
	
217

	
3

	  	
0

	
116.00

	
1.4

	
0

	
0

	
1

	
20101217

	  
	
218

	
2

	  	
0

	
1551.30

	
0.6

	
0.6

	
0

	
1

	
20101217

	  
	
219

	
1

	  	
0

	
513.00

	
16

	
0.25

	
5

	
1

	
20101217

	  
	
220

	
1

	  	
0

	
1077.00

	
5.5

	
19

	  	
1

	
20101217

	  
	
221

	
1

	  	
1

	
364.00

	
3

	
0

	
10

	
1

	
20101217

	  
	
222

	
1

	  	
1

	
4808.00

	
15

	
0

	
3

	
1

	
20101217

	  
	
223

	
1

	  	
0

	
175.00

	
5

	
0

	
2

	
1

	
20101217

	  
	
224

	
3

	  	
0

	
8184.00

	
5

	
0

	
10

	
1

	
20101217

	  
	
225

	
4

	  	
1

	
3250.00

	
10

	
0

	
5

	
1

	
20101217

	  
	
226

	
2

	  	
1

	
7393.00

	
12

	
0

	
0.5

	
1

	
20101217

	  
	
227

	
1

	  	
0

	
144.35

	
1.2

	
0

	
0.6

	
1

	
20101217

	  
	
228

	
2

	  	
0

	
2162.00

	
0.5

	
16

	
14

	
1

	
20101217

	  
	
229

	
1

	  	
0

	
322.00

	
8

	
0

	
1.5

	
1

	
20101217

	  
	
230

	
1

	  	
0

	
1409.00

	
10

	
0

	
5

	
1

	
20101217

	  
	
231

	
2

	  	
1

	
6068.00

	
11

	
0

	
0

	
1

	
20101217

	  
	
232

	
2

	  	
0

	
2322.00

	
1.5

	
0

	
1

	
1

	
20101217

	  
	
233

	
1

	  	
0

	
915.90

	
6

	
2

	
1

	
1

	
20101217

	  
	
234

	
2

	  	
0

	
6995.00

	
8

	
0

	
0

	
1

	
20101217

	  
	
235

	
1

	  	
0

	
88.00

	
99

	
0

	
15

	
1

	
20101217

	  
	
236

	
1

	  	
0

	
15.00

	
3

	
11

	
4

	
1

	
20101217

	  
	
237

	
1

	  	
0

	
212.00

	
7

	
0

	
0

	
1

	
20101217

	  
	
238

	
1

	  	
0

	
1477.00

	
3.37

	
0

	
5

	
1

	
20101217

	  
	
239

	
2

	  	
0

	
5058.15

	
8

	
0

	
2

	
1

	
20101217

	  
	
240

	
2

	  	
0

	
394.10

	
4.6

	
0

	
0

	
1

	
20101217

	  
	
241

	
1

	  	
0

	
20.00

	
10

	
0

	
0

	
1

	
20101217

	  
	
242

	
1

	  	
0

	
1815.84

	
2

	
2

	
0.8

	
1

	
20101217

	  
	
243

	
1

	  	
0

	
384.00

	
99

	  	
0

	
1

	
20101217

	  
	
244

	
2

	  	
0

	
8989.67

	
3

	
4

	
4

	
1

	
20101217

	  
	
245

	
2

	  	
0

	
3479.00

	
7

	
0

	
0

	
1

	
20101217

	  
	
246

	
2

	  	
0

	
2680.75

	
0.9

	
0

	
10

	
1

	
20101217

	  
	
247

	
2

	  	
1

	
11855.00

	
14

	
0

	
7

	
1

	
20101217

	  
	
248

	
1

	  	
0

	
3089.00

	
25

	
0

	
4

	
1

	
20101217

	  
	
249

	
4

	  	
1

	
15544.08

	
15

	
15

	
17

	
1

	
20101217

	  
	
250

	
2

	  	
0

	
7709.65

	
5.7

	
0

	
0

	
1

	
20101217

	  
	
251

	
2

	  	
0

	
7318.08

	
99

	
0

	
24

	
1

	
20101217

	  
	
252

	
1

	  	
0

	
1605.00

	
1.1

	
9

	
16

	
1

	
20101217

	  
	
253

	
2

	  	
0

	
6692.67

	
24

	
2.6

	  	
1

	
20101217

	  
	
254

	
2

	  	
0

	
587.00

	
3.6

	
0

	
0

	
1

	
20101217

	  
	
255

	
1

	  	
0

	
928.00

	
1

	
0

	
17

	
1

	
20101217

	  
	
256

	
2

	  	
0

	
5740.00

	
5.5

	
0

	
8

	
1

	
20101217

	  
	
257

	
3

	  	
1

	
9676.75

	
3.1

	
7

	  	
1

	
20110107

	  
	
258

	
2

	  	
0

	
10127.70

	
1.5

	  	  	
1

	
20101217

	  
	
259

	
1

	  	
0

	
1453.00

	
3

	
1.8

	
4

	
1

	  	  
	
260

	
1

	  	
1

	
1718.00

	
5

	  	
2

	
1

	
20101217

	  
	
261

	
1

	  	
0

	
774.00

	
0.6

	
5

	
0

	
1

	  	  
	
262

	
2

	  	
0

	
14754.89

	
10

	
0

	
0

	
1

	
20101217

	  
	
263

	
1

	  	
1

	
1288.00

	
2.6

	
0

	
10

	
1

	
20101217

	  
	
264

	
1

	  	
1

	
403.00

	
14

	
0

	
6

	
1

	
20101217

	  
	
265

	
1

	  	
0

	
16.00

	
99

	  	
1

	
1

	
20101217

	  
	
266

	
1

	  	
0

	
1928.00

	
99

	
3

	
6

	
1

	
20101217

	  
	
267

	
1

	  	
0

	
7045.00

	
11

	
5.5

	
5

	
1

	
20101217

	  
	
268

	
1

	  	
0

	
43.00

	
0.1

	
0

	
0

	
1

	
20110121

	  
	
269

	
1

	  	
1

	
3885.00

	
4

	  	
3

	
1

	
20101217

	  
	
270

	
1

	  	
0

	
3419.00

	
20

	  	
0

	
1

	
20101217

	  
	
271

	
1

	  	
0

	
129.00

	
9

	
16

	
3

	
1

	
20101217

	  
	
272

	
1

	  	
0

	
976.00

	
1.5

	  	
0

	
1

	  	  
	
273

	
1

	  	
0

	
33.00

	
99

	  	
6

	
1

	
20110121

	  
	
274

	
1

	  	
0

	
841.75

	
15.7

	
0

	
3

	
1

	
20110121

	  
	
275

	
1

	  	
0

	
1053.00

	
23.4

	
0

	
6

	
1

	
20110121

	  
	
276

	
5

	  	
1

	
1689.50

	
40.5

	
32.8

	
11

	
1

	
20110121

	  
	
277

	
1

	  	
0

	
6534.00

	
14

	  	
0

	
1

	
20110121

	  
	
278

	
1

	  	
0

	
1551.00

	
1.5

	
0

	
3

	
1

	
20110121

	  
	
279

	
1

	  	
0

	
997.00

	
5.6

	
0

	
2

	
1

	
20110121

	  
	
280

	
1

	  	
0

	
1778.00

	
3.2

	
0

	
2

	
1

	  	  
	
281

	
1

	  	
0

	
1312.00

	
3

	
0

	
10

	
1

	
20110121

	  
	
282

	
1

	  	
0

	
685.00

	
4.5

	
0

	
3

	
1

	  	  
	
283

	
1

	  	
0

	
69.00

	
13

	
0

	
0

	
1

	  	  
	
284

	
2

	  	
0

	
25672.00

	
7

	
0

	
7

	
1

	  	  
	
285

	
1

	  	
0

	
200.00

	
2.6

	
0

	
2

	
1

	  	  
	
286

	
1

	  	
0

	
4713.00

	
1.3

	
12

	
6

	
1

	  	  
	
287

	
1

	  	
0

	
173.00

	
2.6

	
2

	
4

	
1

	  	  
	
288

	
3

	  	
0

	
6010.00

	
3

	
0

	
3

	
1

	  	  
	
289

	
2

	  	
0

	
17975.00

	
0.8

	
0

	
15

	
1

	  	  
	
290

	
2

	  	
0

	
5315.00

	
2

	
0

	
0

	
1

	  	  
	
291

	
2

	  	
0

	
7070.25

	
7

	
0

	
6

	
1

	  	  
	
292

	
1

	  	
1

	
1691.22

	
27

	
0

	
6

	
1

	  	  
	
293

	
8

	  	
0

	
6726.00

	
30

	
0

	
2

	
1

	  	  
	
294

	
1

	  	
0

	
865.00

	
6

	
0

	
3

	
1

	  	  
	
295

	
2

	  	
0

	
800.00

	
5.5

	
0

	
3

	
1

	  	  
	
296

	
1

	  	
0

	
43.00

	
5

	  	
0.75

	
1

	  	  
	
297

	
3

	  	
0

	
10677.17

	
99

	
0

	
5

	
1

	  	  
	
298

	
2

	  	
0

	
7899.63

	
13

	  	  	
1

	  	  
	
299

	
1

	  	
1

	
15.00

	
18.8

	  	
3

	
1

	  	  
	
300

	
1

	  	
1

	
322.50

	
6.9

	
0

	
9.08

	
1

	  	  
	
301

	
4

	  	
1

	
6067.00

	
28.5

	
28.6

	
18.58

	
1

	  	  
	
302

	
1

	  	
0

	
4506.95

	
0

	
8

	
4.5

	
1

	  	  












	  	
81

	
82

	
83

	
84

	
85

	  	
86

	
87

	
88

	
89

	
90


	
KEY

	
Primary Wage


Earner Original


FICO: Experian

	
Primary Wage


Earner Original


FICO: TransUnion

	
Secondary Wage


Earner Original


FICO: Equifax

	
Secondary Wage


Earner Original


FICO: Experian

	
Secondary Wage


Earner Original


FICO: TransUnion

	
Original


Primary Borrower


FICO

	
Most Recent


Primary Borrower


FICO

	
Most Recent Co-


Borrower FICO

	
Most Recent FICO


Method

	
VantageScore:


Primary Borrower

	
VantageScore: Co-


Borrower


	
1

	  	  	  	  	  	
769

	
761

	  	  	  	  
	
2

	  	  	  	  	  	
735

	
738

	  	  	  	  
	
3

	  	  	  	  	  	
783

	
770

	  	  	  	  
	
4

	  	  	  	  	  	
777

	  	  	  	  	  
	
5

	  	  	  	  	  	
794

	
781

	  	  	  	  
	
6

	  	  	  	  	  	
785

	  	  	  	  	  
	
7

	  	  	  	  	  	
725

	  	  	  	  	  
	
8

	  	  	  	  	  	
754

	  	  	  	  	  
	
9

	  	  	  	  	  	
782

	  	  	  	  	  
	
10

	  	  	  	  	  	
793

	  	  	  	  	  
	
11

	  	  	  	  	  	
779

	  	  	  	  	  
	
12

	  	  	  	  	  	
786

	  	  	  	  	  
	
13

	  	  	  	  	  	
777

	  	  	  	  	  
	
14

	  	  	  	  	  	
788

	  	  	  	  	  
	
15

	  	  	  	  	  	
729

	  	  	  	  	  
	
16

	  	  	  	  	  	
801

	  	  	  	  	  
	
17

	  	  	  	  	  	
801

	  	  	  	  	  
	
18

	  	  	  	  	  	
784

	  	  	  	  	  
	
19

	  	  	  	  	  	
762

	  	  	  	  	  
	
20

	  	  	  	  	  	
766

	  	  	  	  	  
	
21

	  	  	  	  	  	
777

	  	  	  	  	  
	
22

	  	  	  	  	  	
784

	  	  	  	  	  
	
23

	  	  	  	  	  	
787

	  	  	  	  	  
	
24

	  	  	  	  	  	
712

	  	  	  	  	  
	
25

	  	  	  	  	  	
792

	  	  	  	  	  
	
26

	  	  	  	  	  	
766

	  	  	  	  	  
	
27

	  	  	  	  	  	
778

	
795

	  	  	  	  
	
28

	  	  	  	  	  	
783

	  	  	  	  	  
	
29

	  	  	  	  	  	
787

	  	  	  	  	  
	
30

	  	  	  	  	  	
793

	  	  	  	  	  
	
31

	  	  	  	  	  	
717

	  	  	  	  	  
	
32

	  	  	  	  	  	
758

	
764

	  	  	  	  
	
33

	  	  	  	  	  	
792

	
774

	  	  	  	  
	
34

	  	  	  	  	  	
791

	
781

	  	  	  	  
	
35

	  	  	  	  	  	
751

	
781

	  	  	  	  
	
36

	  	  	  	  	  	
777

	
768

	  	  	  	  
	
37

	  	  	  	  	  	
753

	
678

	  	  	  	  
	
38

	  	  	  	  	  	
807

	  	  	  	  	  
	
39

	  	  	  	  	  	
768

	
761

	  	  	  	  
	
40

	  	  	  	  	  	
778

	
781

	  	  	  	  
	
41

	  	  	  	  	  	
771

	
770

	  	  	  	  
	
42

	  	  	  	  	  	
703

	
775

	  	  	  	  
	
43

	  	  	  	  	  	
778

	
788

	  	  	  	  
	
44

	  	  	  	  	  	
789

	
799

	  	  	  	  
	
45

	  	  	  	  	  	
778

	  	  	  	  	  
	
46

	  	  	  	  	  	
758

	
768

	  	  	  	  
	
47

	  	  	  	  	  	
757

	
727

	  	  	  	  
	
48

	  	  	  	  	  	
787

	
775

	  	  	  	  
	
49

	  	  	  	  	  	
801

	
780

	  	  	  	  
	
50

	  	  	  	  	  	
724

	
731

	  	  	  	  
	
51

	  	  	  	  	  	
787

	
798

	  	  	  	  
	
52

	  	  	  	  	  	
782

	
792

	  	  	  	  
	
53

	  	  	  	  	  	
793

	  	  	  	  	  
	
54

	  	  	  	  	  	
739

	
781

	  	  	  	  
	
55

	  	  	  	  	  	
795

	
795

	  	  	  	  
	
56

	  	  	  	  	  	
765

	
768

	  	  	  	  
	
57

	  	  	  	  	  	
793

	  	  	  	  	  
	
58

	  	  	  	  	  	
777

	  	  	  	  	  
	
59

	  	  	  	  	  	
751

	  	  	  	  	  
	
60

	  	  	  	  	  	
770

	
702

	  	  	  	  
	
61

	  	  	  	  	  	
781

	
754

	  	  	  	  
	
62

	  	  	  	  	  	
732

	  	  	  	  	  
	
63

	  	  	  	  	  	
790

	  	  	  	  	  
	
64

	  	  	  	  	  	
799

	  	  	  	  	  
	
65

	  	  	  	  	  	
787

	
801

	  	  	  	  
	
66

	  	  	  	  	  	
777

	
788

	  	  	  	  
	
67

	  	  	  	  	  	
727

	  	  	  	  	  
	
68

	  	  	  	  	  	
797

	  	  	  	  	  
	
69

	  	  	  	  	  	
782

	
774

	  	  	  	  
	
70

	  	  	  	  	  	
729

	  	  	  	  	  
	
71

	  	  	  	  	  	
774

	  	  	  	  	  
	
72

	  	  	  	  	  	
772

	  	  	  	  	  
	
73

	  	  	  	  	  	
770

	  	  	  	  	  
	
74

	  	  	  	  	  	
803

	  	  	  	  	  
	
75

	  	  	  	  	  	
767

	  	  	  	  	  
	
76

	  	  	  	  	  	
776

	  	  	  	  	  
	
77

	  	  	  	  	  	
741

	  	  	  	  	  
	
78

	  	  	  	  	  	
802

	
802

	  	  	  	  
	
79

	  	  	  	  	  	
794

	
758

	  	  	  	  
	
80

	  	  	  	  	  	
740

	  	  	  	  	  
	
81

	  	  	  	  	  	
779

	  	  	  	  	  
	
82

	  	  	  	  	  	
788

	  	  	  	  	  
	
83

	  	  	  	  	  	
767

	
799

	  	  	  	  
	
84

	  	  	  	  	  	
790

	
783

	  	  	  	  
	
85

	  	  	  	  	  	
784

	  	  	  	  	  
	
86

	  	  	  	  	  	
790

	  	  	  	  	  
	
87

	  	  	  	  	  	
790

	  	  	  	  	  
	
88

	  	  	  	  	  	
739

	  	  	  	  	  
	
89

	  	  	  	  	  	
789

	  	  	  	  	  
	
90

	  	  	  	  	  	
790

	  	  	  	  	  
	
91

	  	  	  	  	  	
718

	
756

	  	  	  	  
	
92

	  	  	  	  	  	
801

	  	  	  	  	  
	
93

	  	  	  	  	  	
752

	  	  	  	  	  
	
94

	  	  	  	  	  	
713

	  	  	  	  	  
	
95

	  	  	  	  	  	
771

	  	  	  	  	  
	
96

	  	  	  	  	  	
801

	  	  	  	  	  
	
97

	  	  	  	  	  	
788

	  	  	  	  	  
	
98

	  	  	  	  	  	
775

	  	  	  	  	  
	
99

	  	  	  	  	  	
785

	  	  	  	  	  
	
100

	  	  	  	  	  	
808

	  	  	  	  	  
	
101

	  	  	  	  	  	
773

	  	  	  	  	  
	
102

	  	  	  	  	  	
746

	  	  	  	  	  
	
103

	  	  	  	  	  	
761

	  	  	  	  	  
	
104

	  	  	  	  	  	
789

	  	  	  	  	  
	
105

	  	  	  	  	  	
765

	  	  	  	  	  
	
106

	  	  	  	  	  	
787

	  	  	  	  	  
	
107

	  	  	  	  	  	
792

	  	  	  	  	  
	
108

	  	  	  	  	  	
793

	  	  	  	  	  
	
109

	  	  	  	  	  	
791

	  	  	  	  	  
	
110

	  	  	  	  	  	
775

	  	  	  	  	  
	
111

	  	  	  	  	  	
783

	  	  	  	  	  
	
112

	  	  	  	  	  	
786

	  	  	  	  	  
	
113

	  	  	  	  	  	
775

	  	  	  	  	  
	
114

	  	  	  	  	  	
768

	  	  	  	  	  
	
115

	  	  	  	  	  	
733

	  	  	  	  	  
	
116

	  	  	  	  	  	
790

	  	  	  	  	  
	
117

	  	  	  	  	  	
733

	  	  	  	  	  
	
118

	  	  	  	  	  	
772

	  	  	  	  	  
	
119

	  	  	  	  	  	
757

	  	  	  	  	  
	
120

	  	  	  	  	  	
793

	  	  	  	  	  
	
121

	  	  	  	  	  	
755

	  	  	  	  	  
	
122

	  	  	  	  	  	
778

	  	  	  	  	  
	
123

	  	  	  	  	  	
769

	  	  	  	  	  
	
124

	  	  	  	  	  	
730

	  	  	  	  	  
	
125

	  	  	  	  	  	
766

	  	  	  	  	  
	
126

	  	  	  	  	  	
796

	  	  	  	  	  
	
127

	  	  	  	  	  	
773

	
765

	  	  	  	  
	
128

	  	  	  	  	  	
794

	
791

	  	  	  	  
	
129

	  	  	  	  	  	
746

	
770

	  	  	  	  
	
130

	  	  	  	  	  	
731

	
727

	  	  	  	  
	
131

	  	  	  	  	  	
801

	
796

	  	  	  	  
	
132

	  	  	  	  	  	
764

	
763

	  	  	  	  
	
133

	  	  	  	  	  	
759

	
770

	  	  	  	  
	
134

	  	  	  	  	  	
782

	
747

	  	  	  	  
	
135

	  	  	  	  	  	
770

	
751

	  	  	  	  
	
136

	  	  	  	  	  	
776

	
772

	  	  	  	  
	
137

	  	  	  	  	  	
715

	
725

	  	  	  	  
	
138

	  	  	  	  	  	
786

	
784

	  	  	  	  
	
139

	  	  	  	  	  	
771

	
745

	  	  	  	  
	
140

	  	  	  	  	  	
791

	
798

	  	  	  	  
	
141

	  	  	  	  	  	
785

	
763

	  	  	  	  
	
142

	  	  	  	  	  	
769

	
803

	  	  	  	  
	
143

	  	  	  	  	  	
791

	
777

	  	  	  	  
	
144

	  	  	  	  	  	
798

	
783

	  	  	  	  
	
145

	  	  	  	  	  	
754

	
754

	  	  	  	  
	
146

	  	  	  	  	  	
723

	
732

	  	  	  	  
	
147

	  	  	  	  	  	
788

	
766

	  	  	  	  
	
148

	  	  	  	  	  	
782

	  	  	  	  	  
	
149

	  	  	  	  	  	
792

	
795

	  	  	  	  
	
150

	  	  	  	  	  	
739

	
735

	  	  	  	  
	
151

	  	  	  	  	  	
765

	
774

	  	  	  	  
	
152

	  	  	  	  	  	
738

	
742

	  	  	  	  
	
153

	  	  	  	  	  	
797

	
803

	  	  	  	  
	
154

	  	  	  	  	  	
781

	
774

	  	  	  	  
	
155

	  	  	  	  	  	
791

	
777

	  	  	  	  
	
156

	  	  	  	  	  	
777

	
787

	  	  	  	  
	
157

	  	  	  	  	  	
768

	
781

	  	  	  	  
	
158

	  	  	  	  	  	
780

	  	  	  	  	  
	
159

	  	  	  	  	  	
797

	  	  	  	  	  
	
160

	  	  	  	  	  	
809

	  	  	  	  	  
	
161

	  	  	  	  	  	
767

	  	  	  	  	  
	
162

	  	  	  	  	  	
790

	  	  	  	  	  
	
163

	  	  	  	  	  	
793

	  	  	  	  	  
	
164

	  	  	  	  	  	
740

	  	  	  	  	  
	
165

	  	  	  	  	  	
745

	  	  	  	  	  
	
166

	  	  	  	  	  	
790

	  	  	  	  	  
	
167

	  	  	  	  	  	
763

	  	  	  	  	  
	
168

	  	  	  	  	  	
791

	  	  	  	  	  
	
169

	  	  	  	  	  	
807

	  	  	  	  	  
	
170

	  	  	  	  	  	
741

	  	  	  	  	  
	
171

	  	  	  	  	  	
789

	  	  	  	  	  
	
172

	  	  	  	  	  	
803

	  	  	  	  	  
	
173

	  	  	  	  	  	
788

	  	  	  	  	  
	
174

	  	  	  	  	  	
787

	  	  	  	  	  
	
175

	  	  	  	  	  	
800

	  	  	  	  	  
	
176

	  	  	  	  	  	
772

	  	  	  	  	  
	
177

	  	  	  	  	  	
781

	  	  	  	  	  
	
178

	  	  	  	  	  	
785

	  	  	  	  	  
	
179

	  	  	  	  	  	
740

	  	  	  	  	  
	
180

	  	  	  	  	  	
799

	  	  	  	  	  
	
181

	  	  	  	  	  	
791

	  	  	  	  	  
	
182

	  	  	  	  	  	
805

	  	  	  	  	  
	
183

	  	  	  	  	  	
794

	  	  	  	  	  
	
184

	  	  	  	  	  	
752

	  	  	  	  	  
	
185

	  	  	  	  	  	
775

	  	  	  	  	  
	
186

	  	  	  	  	  	
734

	  	  	  	  	  
	
187

	  	  	  	  	  	
719

	  	  	  	  	  
	
188

	  	  	  	  	  	
707

	
721

	  	  	  	  
	
189

	  	  	  	  	  	
803

	
797

	  	  	  	  
	
190

	  	  	  	  	  	
795

	
823

	  	  	  	  
	
191

	  	  	  	  	  	
777

	
777

	  	  	  	  
	
192

	  	  	  	  	  	
769

	
770

	  	  	  	  
	
193

	  	  	  	  	  	
777

	
773

	  	  	  	  
	
194

	  	  	  	  	  	
788

	
789

	  	  	  	  
	
195

	  	  	  	  	  	
754

	
753

	  	  	  	  
	
196

	  	  	  	  	  	
756

	
802

	  	  	  	  
	
197

	  	  	  	  	  	
787

	
782

	  	  	  	  
	
198

	  	  	  	  	  	
800

	
729

	  	  	  	  
	
199

	  	  	  	  	  	
764

	
758

	  	  	  	  
	
200

	  	  	  	  	  	
784

	
796

	  	  	  	  
	
201

	  	  	  	  	  	
750

	
740

	  	  	  	  
	
202

	  	  	  	  	  	
792

	
796

	  	  	  	  
	
203

	  	  	  	  	  	
787

	
796

	  	  	  	  
	
204

	  	  	  	  	  	
787

	
796

	  	  	  	  
	
205

	  	  	  	  	  	
714

	
700

	  	  	  	  
	
206

	  	  	  	  	  	
781

	
804

	  	  	  	  
	
207

	  	  	  	  	  	
794

	
781

	  	  	  	  
	
208

	  	  	  	  	  	
798

	
773

	  	  	  	  
	
209

	  	  	  	  	  	
782

	
727

	  	  	  	  
	
210

	  	  	  	  	  	
776

	
757

	  	  	  	  
	
211

	  	  	  	  	  	
796

	
790

	  	  	  	  
	
212

	  	  	  	  	  	
780

	
793

	  	  	  	  
	
213

	  	  	  	  	  	
793

	
761

	  	  	  	  
	
214

	  	  	  	  	  	
772

	
753

	  	  	  	  
	
215

	  	  	  	  	  	
786

	
790

	  	  	  	  
	
216

	  	  	  	  	  	
788

	
809

	  	  	  	  
	
217

	  	  	  	  	  	
784

	
810

	  	  	  	  
	
218

	  	  	  	  	  	
749

	
744

	  	  	  	  
	
219

	  	  	  	  	  	
809

	
786

	  	  	  	  
	
220

	  	  	  	  	  	
797

	
812

	  	  	  	  
	
221

	  	  	  	  	  	
797

	
759

	  	  	  	  
	
222

	  	  	  	  	  	
797

	
786

	  	  	  	  
	
223

	  	  	  	  	  	
708

	
735

	  	  	  	  
	
224

	  	  	  	  	  	
750

	
786

	  	  	  	  
	
225

	  	  	  	  	  	
777

	
770

	  	  	  	  
	
226

	  	  	  	  	  	
762

	
803

	  	  	  	  
	
227

	  	  	  	  	  	
777

	
773

	  	  	  	  
	
228

	  	  	  	  	  	
745

	
728

	  	  	  	  
	
229

	  	  	  	  	  	
791

	
810

	  	  	  	  
	
230

	  	  	  	  	  	
790

	
801

	  	  	  	  
	
231

	  	  	  	  	  	
793

	
762

	  	  	  	  
	
232

	  	  	  	  	  	
780

	
787

	  	  	  	  
	
233

	  	  	  	  	  	
802

	
782

	  	  	  	  
	
234

	  	  	  	  	  	
784

	
756

	  	  	  	  
	
235

	  	  	  	  	  	
787

	
784

	  	  	  	  
	
236

	  	  	  	  	  	
810

	
801

	  	  	  	  
	
237

	  	  	  	  	  	
776

	
762

	  	  	  	  
	
238

	  	  	  	  	  	
759

	
801

	  	  	  	  
	
239

	  	  	  	  	  	
784

	
756

	  	  	  	  
	
240

	  	  	  	  	  	
767

	
764

	  	  	  	  
	
241

	  	  	  	  	  	
792

	
790

	  	  	  	  
	
242

	  	  	  	  	  	
784

	
783

	  	  	  	  
	
243

	  	  	  	  	  	
701

	
807

	  	  	  	  
	
244

	  	  	  	  	  	
787

	
801

	  	  	  	  
	
245

	  	  	  	  	  	
811

	
786

	  	  	  	  
	
246

	  	  	  	  	  	
750

	
787

	  	  	  	  
	
247

	  	  	  	  	  	
794

	
781

	  	  	  	  
	
248

	  	  	  	  	  	
790

	
792

	  	  	  	  
	
249

	  	  	  	  	  	
777

	
786

	  	  	  	  
	
250

	  	  	  	  	  	
789

	
798

	  	  	  	  
	
251

	  	  	  	  	  	
778

	
778

	  	  	  	  
	
252

	  	  	  	  	  	
776

	
784

	  	  	  	  
	
253

	  	  	  	  	  	
775

	
786

	  	  	  	  
	
254

	  	  	  	  	  	
751

	
760

	  	  	  	  
	
255

	  	  	  	  	  	
735

	
746

	  	  	  	  
	
256

	  	  	  	  	  	
736

	
723

	  	  	  	  
	
257

	  	  	  	  	  	
776

	
773

	  	  	  	  
	
258

	  	  	  	  	  	
789

	
793

	  	  	  	  
	
259

	  	  	  	  	  	
790

	  	  	  	  	  
	
260

	  	  	  	  	  	
764

	
755

	  	  	  	  
	
261

	  	  	  	  	  	
789

	  	  	  	  	  
	
262

	  	  	  	  	  	
801

	
785

	  	  	  	  
	
263

	  	  	  	  	  	
790

	
793

	  	  	  	  
	
264

	  	  	  	  	  	
775

	
738

	  	  	  	  
	
265

	  	  	  	  	  	
782

	
757

	  	  	  	  
	
266

	  	  	  	  	  	
722

	
731

	  	  	  	  
	
267

	  	  	  	  	  	
804

	
790

	  	  	  	  
	
268

	  	  	  	  	  	
799

	
732

	  	  	  	  
	
269

	  	  	  	  	  	
778

	
781

	  	  	  	  
	
270

	  	  	  	  	  	
800

	
808

	  	  	  	  
	
271

	  	  	  	  	  	
784

	
795

	  	  	  	  
	
272

	  	  	  	  	  	
781

	  	  	  	  	  
	
273

	  	  	  	  	  	
815

	
788

	  	  	  	  
	
274

	  	  	  	  	  	
811

	
769

	  	  	  	  
	
275

	  	  	  	  	  	
801

	
781

	  	  	  	  
	
276

	  	  	  	  	  	
808

	
778

	  	  	  	  
	
277

	  	  	  	  	  	
801

	
784

	  	  	  	  
	
278

	  	  	  	  	  	
776

	
785

	  	  	  	  
	
279

	  	  	  	  	  	
774

	
736

	  	  	  	  
	
280

	  	  	  	  	  	
775

	  	  	  	  	  
	
281

	  	  	  	  	  	
785

	
757

	  	  	  	  
	
282

	  	  	  	  	  	
789

	  	  	  	  	  
	
283

	  	  	  	  	  	
788

	  	  	  	  	  
	
284

	  	  	  	  	  	
752

	  	  	  	  	  
	
285

	  	  	  	  	  	
782

	  	  	  	  	  
	
286

	  	  	  	  	  	
792

	  	  	  	  	  
	
287

	  	  	  	  	  	
796

	  	  	  	  	  
	
288

	  	  	  	  	  	
751

	  	  	  	  	  
	
289

	  	  	  	  	  	
777

	  	  	  	  	  
	
290

	  	  	  	  	  	
805

	  	  	  	  	  
	
291

	  	  	  	  	  	
756

	  	  	  	  	  
	
292

	  	  	  	  	  	
703

	  	  	  	  	  
	
293

	  	  	  	  	  	
716

	  	  	  	  	  
	
294

	  	  	  	  	  	
763

	  	  	  	  	  
	
295

	  	  	  	  	  	
776

	  	  	  	  	  
	
296

	  	  	  	  	  	
704

	  	  	  	  	  
	
297

	  	  	  	  	  	
786

	  	  	  	  	  
	
298

	  	  	  	  	  	
759

	  	  	  	  	  
	
299

	  	  	  	  	  	
796

	  	  	  	  	  
	
300

	  	  	  	  	  	
781

	  	  	  	  	  
	
301

	  	  	  	  	  	
781

	  	  	  	  	  
	
302

	  	  	  	  	  	
802

	  	  	  	  	  


















	  	
91

	
92

	
93

	
94

	
95

	
96

	
97

	
98

	
99

	
100


	
KEY

	
Most Recent


VantageScore


Method

	
VantageScore Date

	
Credit Report:


Longest Trade Line

	
Credit Report:


Maximum Trade


Line

	
Credit Report:


Number of Trade


Lines

	
Credit Line Usage


Ratio

	
Most Recent 12-


month Pay History

	
Months Bankruptcy

	
Months Foreclosure

	
Primary Borrower


Wage Income


	
1

	  	  	  	  	  	  	
   777777000000

	  	  	
0.00


	
2

	  	  	  	  	  	  	
777777700000

	  	  	
58412.00


	
3

	  	  	  	  	  	  	
777777700000

	  	  	
17579.00


	
4

	  	  	  	  	  	  	
777777770000

	  	  	
18289.00


	
5

	  	  	  	  	  	  	
777777000000

	  	  	
0.00


	
6

	  	  	  	  	  	  	
777777770000

	  	  	
37041.00


	
7

	  	  	  	  	  	  	
777777770000

	  	  	
33386.41


	
8

	  	  	  	  	  	  	
777777770000

	  	  	
87315.00


	
9

	  	  	  	  	  	  	
777777770000

	  	  	
25092.08


	
10

	  	  	  	  	  	  	
777777777000

	  	  	
0.00


	
11

	  	  	  	  	  	  	
777777770000

	  	  	
10875.00


	
12

	  	  	  	  	  	  	
777777777000

	  	  	
36416.00


	
13

	  	  	  	  	  	  	
777777770000

	  	  	
18361.00


	
14

	  	  	  	  	  	  	
777777777000

	  	  	
20417.00


	
15

	  	  	  	  	  	  	
777777777700

	  	  	
23198.00


	
16

	  	  	  	  	  	  	
777777777000

	  	  	
13750.00


	
17

	  	  	  	  	  	  	
777777777000

	  	  	
28958.00


	
18

	  	  	  	  	  	  	
777777777000

	  	  	
46700.08


	
19

	  	  	  	  	  	  	
777777777000

	  	  	
19500.00


	
20

	  	  	  	  	  	  	
777777777000

	  	  	
29181.00


	
21

	  	  	  	  	  	  	
777777777700

	  	  	
38233.00


	
22

	  	  	  	  	  	  	
777777777700

	  	  	
22371.00


	
23

	  	  	  	  	  	  	
777777777700

	  	  	
43233.00


	
24

	  	  	  	  	  	  	
777777777700

	  	  	
44382.00


	
25

	  	  	  	  	  	  	
777777777770

	  	  	
12126.00


	
26

	  	  	  	  	  	  	
777777777770

	  	  	
45746.00


	
27

	  	  	  	  	  	  	
777777700000

	  	  	
38662.44


	
28

	  	  	  	  	  	  	
777777777770

	  	  	
1663.00


	
29

	  	  	  	  	  	  	
777777770000

	  	  	
25618.00


	
30

	  	  	  	  	  	  	
777777777700

	  	  	
24997.00


	
31

	  	  	  	  	  	  	
777777777000

	  	  	
59480.00


	
32

	  	  	  	  	  	  	
777777700000

	  	  	
22844.68


	
33

	  	  	  	  	  	  	
777777000000

	  	  	
19056.00


	
34

	  	  	  	  	  	  	
777777000000

	  	  	
20483.00


	
35

	  	  	  	  	  	  	
777777000000

	  	  	
17772.26


	
36

	  	  	  	  	  	  	
777770000000

	  	  	
7500.00


	
37

	  	  	  	  	  	  	
777777000000

	  	  	
41666.66


	
38

	  	  	  	  	  	  	
777777770000

	  	  	
36667.00


	
39

	  	  	  	  	  	  	
777770000000

	  	  	
12500.00


	
40

	  	  	  	  	  	  	
777777000000

	  	  	
4166.66


	
41

	  	  	  	  	  	  	
777777000000

	  	  	
20000.00


	
42

	  	  	  	  	  	  	
777777000000

	  	  	
14583.33


	
43

	  	  	  	  	  	  	
777777000000

	  	  	
0.00


	
44

	  	  	  	  	  	  	
777777000000

	  	  	
18916.43


	
45

	  	  	  	  	  	  	
777777770000

	  	  	
13333.00


	
46

	  	  	  	  	  	  	
777777700000

	  	  	
9765.00


	
47

	  	  	  	  	  	  	
777777000000

	  	  	
18471.46


	
48

	  	  	  	  	  	  	
777777000000

	  	  	
15000.00


	
49

	  	  	  	  	  	  	
777777700000

	  	  	
117126.00


	
50

	  	  	  	  	  	  	
777777700000

	  	  	
28749.98


	
51

	  	  	  	  	  	  	
777777000000

	  	  	
0.00


	
52

	  	  	  	  	  	  	
777777000000

	  	  	
0.00


	
53

	  	  	  	  	  	  	
777777770000

	  	  	
0.00


	
54

	  	  	  	  	  	  	
777777000000

	  	  	
33333.00


	
55

	  	  	  	  	  	  	
777777700000

	  	  	
29652.00


	
56

	  	  	  	  	  	  	
777777000000

	  	  	
14900.00


	
57

	  	  	  	  	  	  	
777777777000

	  	  	
0.00


	
58

	  	  	  	  	  	  	
777777777700

	  	  	
189124.00


	
59

	  	  	  	  	  	  	
777777770000

	  	  	
22175.00


	
60

	  	  	  	  	  	  	
777777700000

	  	  	
26116.00


	
61

	  	  	  	  	  	  	
777777700000

	  	  	
31358.49


	
62

	  	  	  	  	  	  	
777777770000

	  	  	
36681.00


	
63

	  	  	  	  	  	  	
777777770000

	  	  	
23342.69


	
64

	  	  	  	  	  	  	
777777770000

	  	  	
23258.78


	
65

	  	  	  	  	  	  	
777777700000

	  	  	
16450.00


	
66

	  	  	  	  	  	  	
777777700000

	  	  	
12944.00


	
67

	  	  	  	  	  	  	
777777770000

	  	  	
28333.00


	
68

	  	  	  	  	  	  	
777777777000

	  	  	
21677.00


	
69

	  	  	  	  	  	  	
777777700000

	  	  	
7500.00


	
70

	  	  	  	  	  	  	
777777770000

	  	  	
31466.00


	
71

	  	  	  	  	  	  	
777777770000

	  	  	
12083.07


	
72

	  	  	  	  	  	  	
777777770000

	  	  	
30833.00


	
73

	  	  	  	  	  	  	
777777777700

	  	  	
0.00


	
74

	  	  	  	  	  	  	
777777777700

	  	  	
0.00


	
75

	  	  	  	  	  	  	
777777770000

	  	  	
20833.34


	
76

	  	  	  	  	  	  	
777777770000

	  	  	
0.00


	
77

	  	  	  	  	  	  	
777777770000

	  	  	
0.00


	
78

	  	  	  	  	  	  	
777777700000

	  	  	
10169.70


	
79

	  	  	  	  	  	  	
777777700000

	  	  	
12466.44


	
80

	  	  	  	  	  	  	
777777770000

	  	  	
18278.00


	
81

	  	  	  	  	  	  	
777777777000

	  	  	
50839.00


	
82

	  	  	  	  	  	  	
777777770000

	  	  	
14136.40


	
83

	  	  	  	  	  	  	
777777700000

	  	  	
10416.67


	
84

	  	  	  	  	  	  	
777777700000

	  	  	
10790.78


	
85

	  	  	  	  	  	  	
777777777000

	  	  	
20833.00


	
86

	  	  	  	  	  	  	
777777777000

	  	  	
0.00


	
87

	  	  	  	  	  	  	
777777770000

	  	  	
116666.34


	
88

	  	  	  	  	  	  	
777777777000

	  	  	
61181.00


	
89

	  	  	  	  	  	  	
777777770000

	  	  	
12995.65


	
90

	  	  	  	  	  	  	
777777777700

	  	  	
37625.46


	
91

	  	  	  	  	  	  	
777777700000

	  	  	
32500.00


	
92

	  	  	  	  	  	  	
777777777700

	  	  	
23311.00


	
93

	  	  	  	  	  	  	
777777770000

	  	  	
18038.52


	
94

	  	  	  	  	  	  	
777777777700

	  	  	
25000.02


	
95

	  	  	  	  	  	  	
777777770000

	  	  	
23525.33


	
96

	  	  	  	  	  	  	
777777777700

	  	  	
0.00


	
97

	  	  	  	  	  	  	
777777770000

	  	  	
16029.02


	
98

	  	  	  	  	  	  	
777777770000

	  	  	
16250.00


	
99

	  	  	  	  	  	  	
777777777000

	  	  	
31232.00


	
100

	  	  	  	  	  	  	
777777777000

	  	  	
22010.47


	
101

	  	  	  	  	  	  	
777777770000

	  	  	
16683.00


	
102

	  	  	  	  	  	  	
777777777700

	  	  	
33333.34


	
103

	  	  	  	  	  	  	
777777770000

	  	  	
96147.00


	
104

	  	  	  	  	  	  	
777777777000

	  	  	
21142.86


	
105

	  	  	  	  	  	  	
777777770000

	  	  	
21987.85


	
106

	  	  	  	  	  	  	
777777777700

	  	  	
18204.00


	
107

	  	  	  	  	  	  	
777777777000

	  	  	
25300.00


	
108

	  	  	  	  	  	  	
777777777700

	  	  	
47099.00


	
109

	  	  	  	  	  	  	
777777777000

	  	  	
68712.67


	
110

	  	  	  	  	  	  	
777777777000

	  	  	
27250.00


	
111

	  	  	  	  	  	  	
777777777000

	  	  	
27379.00


	
112

	  	  	  	  	  	  	
777777777700

	  	  	
11913.28


	
113

	  	  	  	  	  	  	
777777777000

	  	  	
0.00


	
114

	  	  	  	  	  	  	
777777777770

	  	  	
0.00


	
115

	  	  	  	  	  	  	
777777777700

	  	  	
13083.33


	
116

	  	  	  	  	  	  	
777777777770

	  	  	
37950.59


	
117

	  	  	  	  	  	  	
777777777700

	  	  	
18913.73


	
118

	  	  	  	  	  	  	
777777777700

	  	  	
26757.00


	
119

	  	  	  	  	  	  	
777777777770

	  	  	
48031.00


	
120

	  	  	  	  	  	  	
777777777770

	  	  	
23954.88


	
121

	  	  	  	  	  	  	
777777777770

	  	  	
35635.00


	
122

	  	  	  	  	  	  	
777777777770

	  	  	
34630.00


	
123

	  	  	  	  	  	  	
777777777770

	  	  	
14767.00


	
124

	  	  	  	  	  	  	
777777777700

	  	  	
73014.00


	
125

	  	  	  	  	  	  	
777777777770

	  	  	
0.00


	
126

	  	  	  	  	  	  	
777777777770

	  	  	
27341.00


	
127

	  	  	  	  	  	  	
777777000000

	  	  	
118676.00


	
128

	  	  	  	  	  	  	
777770000000

	  	  	
30154.42


	
129

	  	  	  	  	  	  	
777770000000

	  	  	
31723.54


	
130

	  	  	  	  	  	  	
777770000000

	  	  	
30708.33


	
131

	  	  	  	  	  	  	
777777000000

	  	  	
137198.50


	
132

	  	  	  	  	  	  	
777777000000

	  	  	
35929.00


	
133

	  	  	  	  	  	  	
777777000000

	  	  	
13812.67


	
134

	  	  	  	  	  	  	
777777000000

	  	  	
29166.66


	
135

	  	  	  	  	  	  	
777777000000

	  	  	
15998.00


	
136

	  	  	  	  	  	  	
777777000000

	  	  	
14583.34


	
137

	  	  	  	  	  	  	
777777700000

	  	  	
18333.33


	
138

	  	  	  	  	  	  	
777777700000

	  	  	
45138.90


	
139

	  	  	  	  	  	  	
777777700000

	  	  	
43770.00


	
140

	  	  	  	  	  	  	
777777700000

	  	  	
18055.00


	
141

	  	  	  	  	  	  	
777777700000

	  	  	
27689.00


	
142

	  	  	  	  	  	  	
777777700000

	  	  	
51417.25


	
143

	  	  	  	  	  	  	
777777700000

	  	  	
76579.00


	
144

	  	  	  	  	  	  	
777777700000

	  	  	
23365.27


	
145

	  	  	  	  	  	  	
777777700000

	  	  	
7916.66


	
146

	  	  	  	  	  	  	
777777770000

	  	  	
17039.00


	
147

	  	  	  	  	  	  	
777777700000

	  	  	
22778.00


	
148

	  	  	  	  	  	  	
777777770000

	  	  	
29840.00


	
149

	  	  	  	  	  	  	
777777700000

	  	  	
8750.00


	
150

	  	  	  	  	  	  	
777777700000

	  	  	
15607.00


	
151

	  	  	  	  	  	  	
777777700000

	  	  	
21872.93


	
152

	  	  	  	  	  	  	
777777700000

	  	  	
77478.00


	
153

	  	  	  	  	  	  	
777777700000

	  	  	
49278.13


	
154

	  	  	  	  	  	  	
777777700000

	  	  	
26814.00


	
155

	  	  	  	  	  	  	
777777700000

	  	  	
26666.00


	
156

	  	  	  	  	  	  	
777777770000

	  	  	
22567.00


	
157

	  	  	  	  	  	  	
777777700000

	  	  	
4847.22


	
158

	  	  	  	  	  	  	
777777770000

	  	  	
0.00


	
159

	  	  	  	  	  	  	
777777777000

	  	  	
38208.00


	
160

	  	  	  	  	  	  	
777777770000

	  	  	
20060.00


	
161

	  	  	  	  	  	  	
777777770000

	  	  	
78112.00


	
162

	  	  	  	  	  	  	
777777770000

	  	  	
12190.00


	
163

	  	  	  	  	  	  	
777777777000

	  	  	
26338.00


	
164

	  	  	  	  	  	  	
777777770000

	  	  	
39166.67


	
165

	  	  	  	  	  	  	
777777777700

	  	  	
0.00


	
166

	  	  	  	  	  	  	
777777770000

	  	  	
64750.00


	
167

	  	  	  	  	  	  	
777777770000

	  	  	
56198.00


	
168

	  	  	  	  	  	  	
777777770000

	  	  	
45832.00


	
169

	  	  	  	  	  	  	
777777777000

	  	  	
23338.34


	
170

	  	  	  	  	  	  	
777777777700

	  	  	
91913.00


	
171

	  	  	  	  	  	  	
777777770000

	  	  	
51250.00


	
172

	  	  	  	  	  	  	
777777777000

	  	  	
27918.00


	
173

	  	  	  	  	  	  	
777777777000

	  	  	
35004.00


	
174

	  	  	  	  	  	  	
777777777000

	  	  	
38542.00


	
175

	  	  	  	  	  	  	
777777770000

	  	  	
13666.00


	
176

	  	  	  	  	  	  	
777777777000

	  	  	
63182.00


	
177

	  	  	  	  	  	  	
777777777000

	  	  	
27679.00


	
178

	  	  	  	  	  	  	
777777770000

	  	  	
13650.00


	
179

	  	  	  	  	  	  	
777777777000

	  	  	
166666.00


	
180

	  	  	  	  	  	  	
777777777000

	  	  	
22917.00


	
181

	  	  	  	  	  	  	
777777777000

	  	  	
54522.00


	
182

	  	  	  	  	  	  	
777777777000

	  	  	
14185.00


	
183

	  	  	  	  	  	  	
777777777000

	  	  	
47917.00


	
184

	  	  	  	  	  	  	
777777777000

	  	  	
71602.00


	
185

	  	  	  	  	  	  	
777777777700

	  	  	
178.00


	
186

	  	  	  	  	  	  	
777777777700

	  	  	
18190.00


	
187

	  	  	  	  	  	  	
777777777700

	  	  	
16666.67


	
188

	  	  	  	  	  	  	
000000000000

	  	  	
46268.00


	
189

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
190

	  	  	  	  	  	  	
000000000000

	  	  	
79167.00


	
191

	  	  	  	  	  	  	
000000000000

	  	  	
49546.00


	
192

	  	  	  	  	  	  	
000000000000

	  	  	
25459.00


	
193

	  	  	  	  	  	  	
000000000000

	  	  	
15833.00


	
194

	  	  	  	  	  	  	
000000000000

	  	  	
26817.00


	
195

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
196

	  	  	  	  	  	  	
000000000000

	  	  	
70779.00


	
197

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
198

	  	  	  	  	  	  	
000000000000

	  	  	
93697.00


	
199

	  	  	  	  	  	  	
000000000000

	  	  	
28592.00


	
200

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
201

	  	  	  	  	  	  	
000000000000

	  	  	
58403.00


	
202

	  	  	  	  	  	  	
000000000000

	  	  	
45147.00


	
203

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
204

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
205

	  	  	  	  	  	  	
000000000000

	  	  	
67996.00


	
206

	  	  	  	  	  	  	
000000000000

	  	  	
16229.00


	
207

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
208

	  	  	  	  	  	  	
000000000000

	  	  	
18750.00


	
209

	  	  	  	  	  	  	
000000000000

	  	  	
49523.00


	
210

	  	  	  	  	  	  	
000000000000

	  	  	
23335.00


	
211

	  	  	  	  	  	  	
000000000000

	  	  	
24794.00


	
212

	  	  	  	  	  	  	
000000000000

	  	  	
49036.00


	
213

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
214

	  	  	  	  	  	  	
000000000000

	  	  	
22568.00


	
215

	  	  	  	  	  	  	
000000000000

	  	  	
92769.00


	
216

	  	  	  	  	  	  	
000000000000

	  	  	
22929.17


	
217

	  	  	  	  	  	  	
000000000000

	  	  	
15488.42


	
218

	  	  	  	  	  	  	
000000000000

	  	  	
10000.00


	
219

	  	  	  	  	  	  	
000000000000

	  	  	
8642.00


	
220

	  	  	  	  	  	  	
000000000000

	  	  	
13750.00


	
221

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
222

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
223

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
224

	  	  	  	  	  	  	
000000000000

	  	  	
53352.00


	
225

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
226

	  	  	  	  	  	  	
000000000000

	  	  	
12500.00


	
227

	  	  	  	  	  	  	
000000000000

	  	  	
3914.83


	
228

	  	  	  	  	  	  	
000000000000

	  	  	
17500.00


	
229

	  	  	  	  	  	  	
000000000000

	  	  	
52515.67


	
230

	  	  	  	  	  	  	
000000000000

	  	  	
17482.02


	
231

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
232

	  	  	  	  	  	  	
000000000000

	  	  	
25447.00


	
233

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
234

	  	  	  	  	  	  	
000000000000

	  	  	
69584.00


	
235

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
236

	  	  	  	  	  	  	
000000000000

	  	  	
38157.60


	
237

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
238

	  	  	  	  	  	  	
000000000000

	  	  	
16725.00


	
239

	  	  	  	  	  	  	
000000000000

	  	  	
24167.00


	
240

	  	  	  	  	  	  	
000000000000

	  	  	
21458.00


	
241

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
242

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
243

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
244

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
245

	  	  	  	  	  	  	
000000000000

	  	  	
56250.00


	
246

	  	  	  	  	  	  	
000000000000

	  	  	
71250.00


	
247

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
248

	  	  	  	  	  	  	
000000000000

	  	  	
88555.00


	
249

	  	  	  	  	  	  	
000000000000

	  	  	
0.00


	
250

	  	  	  	  	  	  	
000000000000

	  	  	
39029.00


	
251

	  	  	  	  	  	  	
700000000000

	  	  	
0.00


	
252

	  	  	  	  	  	  	
000000000000

	  	  	
12500.00


	
253

	  	  	  	  	  	  	
770000000000

	  	  	
0.00


	
254

	  	  	  	  	  	  	
777000000000

	  	  	
0.00


	
255

	  	  	  	  	  	  	
777770000000

	  	  	
37500.00


	
256

	  	  	  	  	  	  	
777770000000

	  	  	
13852.32


	
257

	  	  	  	  	  	  	
777770000000

	  	  	
39270.88


	
258

	  	  	  	  	  	  	
777770000000

	  	  	
118550.83


	
259

	  	  	  	  	  	  	
777777770000

	  	  	
10416.66


	
260

	  	  	  	  	  	  	
777770000000

	  	  	
42750.00


	
261

	  	  	  	  	  	  	
777777777000

	  	  	
33333.33


	
262

	  	  	  	  	  	  	
777777000000

	  	  	
66666.67


	
263

	  	  	  	  	  	  	
777777000000

	  	  	
8957.00


	
264

	  	  	  	  	  	  	
777777000000

	  	  	
23752.61


	
265

	  	  	  	  	  	  	
777770000000

	  	  	
0.00


	
266

	  	  	  	  	  	  	
777770000000

	  	  	
0.00


	
267

	  	  	  	  	  	  	
777777000000

	  	  	
40566.00


	
268

	  	  	  	  	  	  	
777777700000

	  	  	
33333.33


	
269

	  	  	  	  	  	  	
777777700000

	  	  	
31250.00


	
270

	  	  	  	  	  	  	
777777700000

	  	  	
41666.00


	
271

	  	  	  	  	  	  	
777777700000

	  	  	
38495.34


	
272

	  	  	  	  	  	  	
777777770000

	  	  	
58850.00


	
273

	  	  	  	  	  	  	
777777700000

	  	  	
0.00


	
274

	  	  	  	  	  	  	
777777700000

	  	  	
35476.00


	
275

	  	  	  	  	  	  	
777777700000

	  	  	
30509.23


	
276

	  	  	  	  	  	  	
777777700000

	  	  	
21042.00


	
277

	  	  	  	  	  	  	
777777700000

	  	  	
25000.00


	
278

	  	  	  	  	  	  	
777777700000

	  	  	
33333.34


	
279

	  	  	  	  	  	  	
777777700000

	  	  	
54147.00


	
280

	  	  	  	  	  	  	
777777770000

	  	  	
28667.00


	
281

	  	  	  	  	  	  	
777777770000

	  	  	
46364.00


	
282

	  	  	  	  	  	  	
777777770000

	  	  	
20625.00


	
283

	  	  	  	  	  	  	
777777777000

	  	  	
16667.00


	
284

	  	  	  	  	  	  	
777777770000

	  	  	
53229.18


	
285

	  	  	  	  	  	  	
777777770000

	  	  	
22536.17


	
286

	  	  	  	  	  	  	
777777770000

	  	  	
24850.00


	
287

	  	  	  	  	  	  	
777777770000

	  	  	
10180.00


	
288

	  	  	  	  	  	  	
777777777700

	  	  	
42425.00


	
289

	  	  	  	  	  	  	
777777770000

	  	  	
90000.00


	
290

	  	  	  	  	  	  	
777777777000

	  	  	
28750.00


	
291

	  	  	  	  	  	  	
777777770000

	  	  	
32527.00


	
292

	  	  	  	  	  	  	
777777777700

	  	  	
44598.00


	
293

	  	  	  	  	  	  	
777777777000

	  	  	
0.00


	
294

	  	  	  	  	  	  	
777777777000

	  	  	
27426.00


	
295

	  	  	  	  	  	  	
777777777700

	  	  	
12528.00


	
296

	  	  	  	  	  	  	
777777777700

	  	  	
34145.00


	
297

	  	  	  	  	  	  	
777777777770

	  	  	
0.00


	
298

	  	  	  	  	  	  	
777777777770

	  	  	
34546.00


	
299

	  	  	  	  	  	  	
777777777770

	  	  	
14063.00


	
300

	  	  	  	  	  	  	
777777777700

	  	  	
60593.00


	
301

	  	  	  	  	  	  	
777777777770

	  	  	
13537.00


	
302

	  	  	  	  	  	  	
777777777770

	  	  	
0.00













	  	
101

	
102

	
103

	
104

	
105

	
106

	
107

	
108

	
109

	
110


	
KEY

	
Co-Borrower Wage


Income

	
Primary Borrower


Other Income

	
Co-Borrower Other


Income

	
All Borrower Wage


Income

	
All Borrower Total


Income

	
4506-T Indicator

	
Borrower Income


Verification Level

	
Co-Borrower


Income Verification

	
Borrower


Employment


Verification

	
Co-Borrower


Employment


Verification


	
1

	
0.00

	
50907.00

	
0.00

	
0.00

	
50907.00

	
Y

	
5

	  	
3

	  
	
2

	  	
0.00

	  	
58412.00

	
58412.00

	
Y

	
5

	  	
3

	  
	
3

	
0.00

	
2869.69

	
0.00

	
17579.00

	
20448.69

	
Y

	
5

	  	
3

	  
	
4

	
0.00

	
0.00

	
14118.00

	
18289.00

	
32407.00

	
Y

	
5

	  	
3

	  
	
5

	
0.00

	
39628.79

	
10821.75

	
0.00

	
50450.54

	
Y

	
5

	  	
3

	  
	
6

	  	
0.00

	  	
37041.00

	
37041.00

	
Y

	
5

	  	
3

	  
	
7

	
0.00

	
0.00

	
0.00

	
33386.41

	
33386.41

	
Y

	
5

	  	
3

	  
	
8

	
7583.00

	
4333.00

	
0.00

	
94898.00

	
99231.00

	
Y

	
5

	  	
3

	  
	
9

	
25092.08

	
0.00

	
0.00

	
50184.16

	
50184.16

	
Y

	
5

	  	
3

	  
	
10

	
0.00

	
20100.00

	
0.00

	
0.00

	
20100.00

	
Y

	
5

	  	
3

	  
	
11

	
5768.50

	
0.00

	
0.00

	
16643.50

	
16643.50

	
Y

	
5

	  	
3

	  
	
12

	  	
0.00

	  	
36416.00

	
36416.00

	
Y

	
5

	  	
3

	  
	
13

	
16864.00

	
0.00

	
0.00

	
35225.00

	
35225.00

	
Y

	
5

	  	
3

	  
	
14

	
0.00

	
53388.00

	
0.00

	
20417.00

	
73805.00

	
Y

	
5

	  	
3

	  
	
15

	
0.00

	
5037.00

	
0.00

	
23198.00

	
28235.00

	
Y

	
5

	  	
3

	  
	
16

	
9583.35

	
0.00

	
0.00

	
23333.35

	
23333.35

	
Y

	
5

	  	
3

	  
	
17

	
3500.00

	
0.00

	
0.00

	
32458.00

	
32458.00

	
Y

	
5

	  	
3

	  
	
18

	
0.00

	
0.00

	
0.00

	
46700.08

	
46700.08

	
Y

	
5

	  	
3

	  
	
19

	
0.00

	
36892.00

	
0.00

	
19500.00

	
56392.00

	
Y

	
5

	  	
3

	  
	
20

	  	
0.00

	  	
29181.00

	
29181.00

	
Y

	
5

	  	
3

	  
	
21

	
0.00

	
0.00

	
0.00

	
38233.00

	
38233.00

	
Y

	
5

	  	
3

	  
	
22

	
8490.00

	
0.00

	
0.00

	
30861.00

	
30861.00

	
Y

	
5

	  	
3

	  
	
23

	
0.00

	
0.00

	
0.00

	
43233.00

	
43233.00

	
Y

	
5

	  	
3

	  
	
24

	
0.00

	
0.00

	
0.00

	
44382.00

	
44382.00

	
Y

	
5

	  	
3

	  
	
25

	
6875.00

	
0.00

	
0.00

	
19001.00

	
19001.00

	
Y

	
5

	  	
3

	  
	
26

	  	
0.00

	  	
45746.00

	
45746.00

	
Y

	
5

	  	
3

	  
	
27

	
0.00

	
0.00

	
0.00

	
38662.44

	
38662.44

	
Y

	
5

	  	
3

	  
	
28

	
39914.00

	
-263.00

	
0.00

	
41577.00

	
41314.00

	
Y

	
5

	  	
3

	  
	
29

	  	
793.00

	  	
25618.00

	
26411.00

	
Y

	
5

	  	
3

	  
	
30

	
0.00

	
14252.00

	
0.00

	
24997.00

	
39249.00

	
Y

	
5

	  	
3

	  
	
31

	
0.00

	
0.00

	
0.00

	
59480.00

	
59480.00

	
Y

	
5

	  	
3

	  
	
32

	
0.00

	
0.00

	
0.00

	
22844.68

	
22844.68

	
Y

	
5

	  	
2

	  
	
33

	  	
3429.33

	  	
19056.00

	
22485.33

	
Y

	
5

	  	
3

	  
	
34

	  	
0.00

	  	
20483.00

	
20483.00

	
Y

	
5

	  	
3

	  
	
35

	  	
0.00

	  	
17772.26

	
17772.26

	
Y

	
5

	  	
3

	  
	
36

	
0.00

	
3676.00

	
3559.00

	
7500.00

	
14735.00

	
Y

	
4

	  	
3

	  
	
37

	
20547.00

	
0.00

	
0.00

	
62213.66

	
62213.66

	
Y

	
5

	  	
3

	  
	
38

	  	
0.00

	  	
36667.00

	
36667.00

	
Y

	
5

	  	
3

	  
	
39

	
0.00

	
2376.00

	
0.00

	
12500.00

	
14876.00

	
Y

	
4

	  	
3

	  
	
40

	  	
16986.92

	  	
4166.66

	
21153.58

	
Y

	
5

	  	
3

	  
	
41

	
0.00

	
0.00

	
0.00

	
20000.00

	
20000.00

	
Y

	
5

	  	
3

	  
	
42

	
0.00

	
0.00

	
0.00

	
14583.33

	
14583.33

	
Y

	
5

	  	
3

	  
	
43

	
24871.58

	
0.00

	
0.00

	
24871.58

	
24871.58

	
Y

	
5

	  	
3

	  
	
44

	
0.00

	
2403.54

	
0.00

	
18916.43

	
21319.97

	
Y

	
5

	  	
3

	  
	
45

	  	
0.00

	  	
13333.00

	
13333.00

	
Y

	
5

	  	
3

	  
	
46

	
5000.00

	
0.00

	
0.00

	
14765.00

	
14765.00

	
Y

	
5

	  	
3

	  
	
47

	  	
0.00

	  	
18471.46

	
18471.46

	
Y

	
5

	  	
3

	  
	
48

	  	
0.00

	  	
15000.00

	
15000.00

	
Y

	
5

	  	
3

	  
	
49

	  	
-2640.00

	  	
117126.00

	
114486.00

	
Y

	
5

	  	
3

	  
	
50

	
0.00

	
-613.08

	
0.00

	
28749.98

	
28136.90

	
Y

	
5

	  	
3

	  
	
51

	
34276.31

	
0.00

	
0.00

	
34276.31

	
34276.31

	
Y

	
5

	  	
3

	  
	
52

	
0.00

	
30994.25

	
905.00

	  	
31899.25

	
Y

	
5

	  	
3

	  
	
53

	
35733.10

	
0.00

	
0.00

	
35733.10

	
35733.10

	
Y

	
5

	  	
3

	  
	
54

	
0.00

	
0.00

	
0.00

	
33333.00

	
33333.00

	
Y

	
5

	  	
3

	  
	
55

	  	
-68.00

	  	
29652.00

	
29584.00

	
Y

	
5

	  	
3

	  
	
56

	  	
0.00

	  	
14900.00

	
14900.00

	
Y

	
5

	  	
3

	  
	
57

	
15417.00

	
0.00

	
0.00

	
15417.00

	
15417.00

	
Y

	
5

	  	
3

	  
	
58

	
0.00

	
2613.58

	
0.00

	
189124.00

	
191737.58

	
Y

	
5

	  	
3

	  
	
59

	
9667.00

	
0.00

	
0.00

	
31842.00

	
31842.00

	
Y

	
5

	  	
3

	  
	
60

	
0.00

	
0.00

	
0.00

	
26116.00

	
26116.00

	
Y

	
5

	  	
3

	  
	
61

	
0.00

	
0.00

	
0.00

	
31358.49

	
31358.49

	
Y

	
5

	  	
2

	  
	
62

	
0.00

	
85.00

	
0.00

	
36681.00

	
36766.00

	
Y

	
5

	  	
3

	  
	
63

	
14650.24

	
0.00

	
0.00

	
37992.93

	
37992.93

	
Y

	
4

	  	
2

	  
	
64

	
0.00

	
0.00

	
0.00

	
23258.78

	
23258.78

	
Y

	
5

	  	
3

	  
	
65

	  	
0.00

	  	
16450.00

	
16450.00

	
Y

	
5

	  	
3

	  
	
66

	
0.00

	
6299.00

	
0.00

	
12944.00

	
19243.00

	
Y

	
5

	  	
3

	  
	
67

	  	
0.00

	  	
28333.00

	
28333.00

	
Y

	
5

	  	
3

	  
	
68

	  	
49897.00

	  	
21677.00

	
71574.00

	
Y

	
5

	  	
3

	  
	
69

	
12500

	
0.00

	
0.00

	
20000.00

	
20000.00

	
Y

	
5

	  	
2

	  
	
70

	
27048.34

	
0.00

	
0.00

	
58514.34

	
58514.34

	
Y

	
5

	  	
3

	  
	
71

	
8366.00

	
0.00

	
0.00

	
20449.07

	
20449.07

	
Y

	
5

	  	
3

	  
	
72

	
0.00

	
0.00

	
0.00

	
30833.00

	
30833.00

	
Y

	
5

	  	
3

	  
	
73

	
0.00

	
20666.00

	
1130.00

	  	
21796.00

	
Y

	
5

	  	
2

	  
	
74

	
0.00

	
10000.00

	
6832.00

	  	
16832.00

	
Y

	
5

	  	
3

	  
	
75

	
0.00

	
0.00

	
0.00

	
20833.34

	
20833.34

	
Y

	
5

	  	
2

	  
	
76

	
0.00

	
0.00

	
35289.50

	  	
35289.50

	
Y

	
5

	  	
3

	  
	
77

	
172425.00

	
0.00

	
0.00

	
172425.00

	
172425.00

	
Y

	
5

	  	
3

	  
	
78

	
0.00

	
0.00

	
0.00

	
10169.70

	
10169.70

	
Y

	
5

	  	
3

	  
	
79

	
666.67

	
0.00

	
0.00

	
13133.11

	
13133.11

	
Y

	
5

	  	
3

	  
	
80

	  	
0.00

	  	
18278.00

	
18278.00

	
Y

	
5

	  	
3

	  
	
81

	  	
0.00

	  	
50839.00

	
50839.00

	
Y

	
5

	  	
3

	  
	
82

	
0.00

	
0.00

	
0.00

	
14136.40

	
14136.40

	
Y

	
5

	  	
3

	  
	
83

	
11453.86

	
0.00

	
0.00

	
21870.53

	
21870.53

	
Y

	
5

	  	
3

	  
	
84

	
3815.42

	
0.00

	
0.00

	
14606.20

	
14606.20

	
Y

	
5

	  	
3

	  
	
85

	  	
0.00

	  	
20833.00

	
20833.00

	
Y

	
5

	  	
3

	  
	
86

	
10444.00

	
3773.40

	
0.00

	
10444.00

	
14217.40

	
Y

	
5

	  	
3

	  
	
87

	  	
0.00

	  	
116666.34

	
116666.34

	
Y

	
5

	  	
3

	  
	
88

	
0.00

	
0.00

	
0.00

	
61181.00

	
61181.00

	
Y

	
5

	  	
3

	  
	
89

	
0.00

	
2448.71

	
0.00

	
12995.65

	
15444.36

	
Y

	
5

	  	
2

	  
	
90

	  	
0.00

	  	
37625.46

	
37625.46

	
Y

	
5

	  	
3

	  
	
91

	
0.00

	
0.00

	
0.00

	
32500.00

	
32500.00

	
Y

	
5

	  	
3

	  
	
92

	  	
0.00

	  	
23311.00

	
23311.00

	
Y

	
5

	  	
3

	  
	
93

	  	
0.00

	  	
18038.52

	
18038.52

	
Y

	
5

	  	
3

	  
	
94

	
0.00

	
0.00

	
0.00

	
25000.02

	
25000.02

	
Y

	
5

	  	
2

	  
	
95

	
43627.66

	
0.00

	
0.00

	
67152.99

	
67152.99

	
Y

	
5

	  	
3

	  
	
96

	
0.00

	
8556.00

	
2792.00

	  	
11348.00

	
Y

	
5

	  	
3

	  
	
97

	  	
0.00

	  	
16029.02

	
16029.02

	
Y

	
5

	  	
3

	  
	
98

	
0.00

	
0.00

	
0.00

	
16250.00

	
16250.00

	
Y

	
5

	  	
3

	  
	
99

	
0.00

	
-1589.00

	
0.00

	
31232.00

	
29643.00

	
Y

	
5

	  	
3

	  
	
100

	  	
0.00

	  	
22010.47

	
22010.47

	
Y

	
5

	  	
3

	  
	
101

	
5240.75

	
0.00

	
0.00

	
21923.75

	
21923.75

	
Y

	
5

	  	
2

	  
	
102

	
0.00

	
0.00

	
0.00

	
33333.34

	
33333.34

	
Y

	
5

	  	
3

	  
	
103

	
-26260.00

	
408.00

	
0.00

	
69887.00

	
70295.00

	
Y

	
5

	  	
3

	  
	
104

	
0.00

	
0.00

	
0.00

	
21142.86

	
21142.86

	
Y

	
5

	  	
3

	  
	
105

	
0.00

	
0.00

	
0.00

	
21987.85

	
21987.85

	
Y

	
5

	  	
3

	  
	
106

	
0.00

	
1892.00

	
0.00

	
18204.00

	
20096.00

	
Y

	
5

	  	
3

	  
	
107

	
0.00

	
-140.00

	
0.00

	
25300.00

	
25160.00

	
Y

	
5

	  	
3

	  
	
108

	
0.00

	
0.00

	
0.00

	
47099.00

	
47099.00

	
Y

	
5

	  	
3

	  
	
109

	  	
0.00

	  	
68712.67

	
68712.67

	
Y

	
5

	  	
3

	  
	
110

	
0.00

	
0.00

	
0.00

	
27250.00

	
27250.00

	
Y

	
5

	  	
3

	  
	
111

	  	
185.00

	  	
27379.00

	
27564.00

	
Y

	
5

	  	
3

	  
	
112

	
0.00

	
0.00

	
0.00

	
11913.28

	
11913.28

	
Y

	
5

	  	
3

	  
	
113

	
0.00

	
26619.00

	
0.00

	  	
26619.00

	
N

	
5

	  	
3

	  
	
114

	
0.00

	
14624.00

	
1634.00

	  	
16258.00

	
Y

	
5

	  	
3

	  
	
115

	  	
0.00

	  	
13083.33

	
13083.33

	
Y

	
5

	  	
3

	  
	
116

	
0.00

	
0.00

	
0.00

	
37950.59

	
37950.59

	
Y

	
5

	  	
3

	  
	
117

	  	
0.00

	  	
18913.73

	
18913.73

	
Y

	
5

	  	
3

	  
	
118

	  	
0.00

	  	
26757.00

	
26757.00

	
Y

	
5

	  	
3

	  
	
119

	
0.00

	
0.00

	
0.00

	
48031.00

	
48031.00

	
Y

	
5

	  	
3

	  
	
120

	
0.00

	
0.00

	
0.00

	
23954.88

	
23954.88

	
Y

	
5

	  	
3

	  
	
121

	
1100.00

	
0.00

	
0.00

	
36735.00

	
36735.00

	
Y

	
5

	  	
3

	  
	
122

	
0.00

	
0.00

	
0.00

	
34630.00

	
34630.00

	
Y

	
5

	  	
3

	  
	
123

	
8375.00

	
0.00

	
0.00

	
23142.00

	
23142.00

	
Y

	
5

	  	
3

	  
	
124

	  	
0.00

	  	
73014.00

	
73014.00

	
Y

	
5

	  	
3

	  
	
125

	
0.00

	
23249.00

	
0.00

	  	
23249.00

	
Y

	
5

	  	
3

	  
	
126

	
0.00

	
615.00

	
0.00

	
27341.00

	
27956.00

	
Y

	
5

	  	
3

	  
	
127

	
0.00

	
0.00

	
0.00

	
118676.00

	
118676.00

	
Y

	
5

	  	
3

	  
	
128

	
0.00

	
3983.88

	
0.00

	
30154.42

	
34138.30

	
Y

	
5

	  	
3

	  
	
129

	
0.00

	
5854.50

	
0.00

	
31723.54

	
37578.04

	
Y

	
5

	  	
3

	  
	
130

	
0.00

	
0.00

	
0.00

	
30708.33

	
30708.33

	
Y

	
4

	  	
2

	  
	
131

	
0.00

	
2359.00

	
0.00

	
137198.50

	
139557.50

	
Y

	
5

	  	
3

	  
	
132

	  	
-1649.00

	  	
35929.00

	
34280.00

	
Y

	
5

	  	
3

	  
	
133

	  	
3816.56

	  	
13812.67

	
17629.23

	
Y

	
5

	  	
3

	  
	
134

	
0.00

	
0.00

	
0.00

	
29166.66

	
29166.66

	
Y

	
5

	  	
3

	  
	
135

	
13364.00

	
4874.00

	
0.00

	
29362.00

	
34236.00

	
Y

	
5

	  	
3

	  
	
136

	
0.00

	
15668.00

	
0.00

	
14583.34

	
30251.34

	
Y

	
5

	  	
3

	  
	
137

	
18333.33

	
0.00

	
0.00

	
36666.66

	
36666.66

	
Y

	
5

	  	
3

	  
	
138

	
0.00

	
0.00

	
0.00

	
45138.90

	
45138.90

	
Y

	
5

	  	
3

	  
	
139

	
0.00

	
0.00

	
0.00

	
43770.00

	
43770.00

	
Y

	
5

	  	
3

	  
	
140

	
19000.00

	
0.00

	
0.00

	
37055.00

	
37055.00

	
Y

	
5

	  	
2

	  
	
141

	
0.00

	
1486.08

	
0.00

	
27689.00

	
29175.08

	
Y

	
5

	  	
2

	  
	
142

	
0.00

	
-3573.65

	
0.00

	
51417.25

	
47843.60

	
Y

	
5

	  	
3

	  
	
143

	
-7.00

	
-10731.00

	
0.00

	
76572.00

	
65841.00

	
Y

	
5

	  	
3

	  
	
144

	
0.00

	
1051.00

	
0.00

	
23365.27

	
24416.27

	
Y

	
5

	  	
3

	  
	
145

	
9378.68

	
0.00

	
0.00

	
17295.34

	
17295.34

	
Y

	
5

	  	
3

	  
	
146

	
7089.00

	
875.00

	
0.00

	
24128.00

	
25003.00

	
Y

	
5

	  	
3

	  
	
147

	
0.00

	
700.41

	
0.00

	
22778.00

	
23478.41

	
Y

	
5

	  	
2

	  
	
148

	  	
1644.84

	  	
29840.00

	
31484.84

	
Y

	
5

	  	
3

	  
	
149

	
0.00

	
10127.50

	
0.00

	
8750.00

	
18877.50

	
Y

	
5

	  	
3

	  
	
150

	
15607.00

	
0.00

	
0.00

	
31214.00

	
31214.00

	
Y

	
5

	  	
3

	  
	
151

	
11559.66

	
0.00

	
0.00

	
33432.59

	
33432.59

	
Y

	
5

	  	
3

	  
	
152

	
0.00

	
2146.00

	
0.00

	
77478.00

	
79624.00

	
Y

	
5

	  	
3

	  
	
153

	
0.00

	
704.78

	
0.00

	
49278.13

	
49982.91

	
Y

	
5

	  	
3

	  
	
154

	
0.00

	
1915.00

	
0.00

	
26814.00

	
28729.00

	
Y

	
5

	  	
3

	  
	
155

	
0.00

	
0.00

	
0.00

	
26666.00

	
26666.00

	
Y

	
5

	  	
3

	  
	
156

	
0.00

	
0.00

	
0.00

	
22567.00

	
22567.00

	
Y

	
5

	  	
2

	  
	
157

	
19142.14

	
17541.33

	
0.00

	
23989.36

	
41530.69

	
Y

	
5

	  	
3

	  
	
158

	
0.00

	
26661.00

	
0.00

	
0.00

	
26661.00

	
Y

	
4

	  	
3

	  
	
159

	  	
-708.00

	  	
38208.00

	
37500.00

	
Y

	
5

	  	
2

	  
	
160

	
17251.00

	
0.00

	
0.00

	
37311.00

	
37311.00

	
Y

	
5

	  	
3

	  
	
161

	
10750.00

	
0.00

	
0.00

	
88862.00

	
88862.00

	
Y

	
5

	  	
3

	  
	
162

	
0.00

	
0.00

	
0.00

	
12190.00

	
12190.00

	
Y

	
5

	  	
2

	  
	
163

	  	
20104.33

	  	
26338.00

	
46442.33

	
Y

	
5

	  	
3

	  
	
164

	
0.00

	
6666.67

	
0.00

	
39166.67

	
45833.34

	
Y

	
5

	  	
3

	  
	
165

	
0.00

	
39765.00

	
0.00

	
0.00

	
39765.00

	
Y

	
5

	  	
3

	  
	
166

	
0.00

	
0.00

	
0.00

	
64750.00

	
64750.00

	
Y

	
5

	  	
3

	  
	
167

	
0.00

	
2528.00

	
0.00

	
56198.00

	
58726.00

	
N

	
5

	  	
3

	  
	
168

	
0.00

	
-27423.00

	
0.00

	
45832.00

	
18409.00

	
Y

	
5

	  	
3

	  
	
169

	
0.00

	
0.00

	
0.00

	
23338.34

	
23338.34

	
Y

	
5

	  	
3

	  
	
170

	
0.00

	
0.00

	
0.00

	
91913.00

	
91913.00

	
Y

	
5

	  	
3

	  
	
171

	
0.00

	
-1168.00

	
0.00

	
51250.00

	
50082.00

	
Y

	
5

	  	
3

	  
	
172

	
0.00

	
0.00

	
0.00

	
27918.00

	
27918.00

	
Y

	
5

	  	
2

	  
	
173

	
0.00

	
0.00

	
0.00

	
35004.00

	
35004.00

	
Y

	
5

	  	
3

	  
	
174

	
0.00

	
0.00

	
0.00

	
38542.00

	
38542.00

	
Y

	
5

	  	
3

	  
	
175

	
19000.00

	
-2935.00

	
0.00

	
32666.00

	
29731.00

	
Y

	
5

	  	
3

	  
	
176

	
0.00

	
-5247.00

	
0.00

	
63182.00

	
57935.00

	
Y

	
5

	  	
3

	  
	
177

	
0.00

	
693.00

	
0.00

	
27679.00

	
28372.00

	
Y

	
5

	  	
3

	  
	
178

	
15417.00

	
0.00

	
0.00

	
29067.00

	
29067.00

	
Y

	
5

	  	
3

	  
	
179

	
54475.00

	
0.00

	
0.00

	
221141.00

	
221141.00

	
Y

	
5

	  	
2

	  
	
180

	
0.00

	
16700.00

	
0.00

	
22917.00

	
39617.00

	
Y

	
5

	  	
3

	  
	
181

	
0.00

	
0.00

	
0.00

	
54522.00

	
54522.00

	
Y

	
5

	  	
3

	  
	
182

	
17683.00

	
0.00

	
0.00

	
31868.00

	
31868.00

	
Y

	
5

	  	
2

	  
	
183

	
0.00

	
0.00

	
0.00

	
47917.00

	
47917.00

	
Y

	
5

	  	
3

	  
	
184

	
0.00

	
2010.00

	
0.00

	
71602.00

	
73612.00

	
Y

	
5

	  	
2

	  
	
185

	
17782.34

	
8367.00

	
0.00

	
17960.34

	
26327.34

	
Y

	
5

	  	
2

	  
	
186

	
0.00

	
-430.00

	
0.00

	
18190.00

	
17760.00

	
Y

	
5

	  	
3

	  
	
187

	
0.00

	
2050.00

	
0.00

	
16666.67

	
18716.67

	
Y

	
5

	  	
3

	  
	
188

	
0.00

	
0.00

	
0.00

	
46268.00

	
46268.00

	
Y

	
5

	  	
2

	  
	
189

	
0.00

	
43726.00

	
0.00

	
0.00

	
43726.00

	
Y

	
5

	  	
2

	  
	
190

	
7008.00

	
0.00

	
0.00

	
86175.00

	
86175.00

	
Y

	
5

	  	
2

	  
	
191

	
0.00

	
0.00

	
0.00

	
49546.00

	
49546.00

	
Y

	
5

	  	
2

	  
	
192

	
0.00

	
0.00

	
0.00

	
25459.00

	
25459.00

	
Y

	
5

	  	
3

	  
	
193

	
0.00

	
666.00

	
0.00

	
15833.00

	
16499.00

	
Y

	
4

	  	
2

	  
	
194

	
0.00

	
0.00

	
0.00

	
26817.00

	
26817.00

	
Y

	
5

	  	
2

	  
	
195

	
0.00

	
103711.00

	
0.00

	
0.00

	
103711.00

	
Y

	
5

	  	
2

	  
	
196

	  	
0.00

	  	
70779.00

	
70779.00

	
Y

	
5

	  	
2

	  
	
197

	
0.00

	
59779.00

	
0.00

	  	
59779.00

	
Y

	
5

	  	
2

	  
	
198

	
0.00

	
0.00

	
0.00

	
93697.00

	
93697.00

	
Y

	
5

	  	
2

	  
	
199

	  	
-2045.00

	  	
26547.00

	
26547.00

	
Y

	
5

	  	
3

	  
	
200

	
5000.00

	
10416.67

	
2110.00

	
5000.00

	
17526.67

	
Y

	
5

	  	
2

	  
	
201

	  	
0.00

	  	
58403.00

	
58403.00

	
Y

	
5

	  	
2

	  
	
202

	
0.00

	
0.00

	
0.00

	
45147.00

	
45147.00

	
Y

	
4

	  	
2

	  
	
203

	  	
49638.00

	  	  	
49638.00

	
Y

	
5

	  	
3

	  
	
204

	  	
49638.00

	  	  	
49638.00

	
Y

	
5

	  	
3

	  
	
205

	
2790.00

	
0.00

	
0.00

	
70786.00

	
70786.00

	
Y

	
5

	  	
3

	  
	
206

	
0.00

	
9374.00

	
0.00

	
16229.00

	
25603.00

	
Y

	
5

	  	
3

	  
	
207

	
0.00

	
133333.34

	
0.00

	
0.00

	
133333.34

	
Y

	
5

	  	
2

	  
	
208

	
38354.00

	
9669.00

	
0.00

	
57104.00

	
66773.00

	
Y

	
5

	  	
2

	  
	
209

	
3025.00

	
6563.00

	
0.00

	
52548.00

	
59111.00

	
Y

	
5

	  	
2

	  
	
210

	
0.00

	
3633.00

	
0.00

	
23335.00

	
26968.00

	
Y

	
5

	  	
3

	  
	
211

	
0.00

	
0.00

	
0.00

	
24794.00

	
24794.00

	
Y

	
5

	  	
2

	  
	
212

	
0.00

	
2071.00

	
0.00

	
49036.00

	
51107.00

	
Y

	
5

	  	
3

	  
	
213

	
0.00

	
68447.00

	
0.00

	
0.00

	
68447.00

	
Y

	
5

	  	
3

	  
	
214

	
0.00

	
44289.00

	
0.00

	
22568.00

	
66857.00

	
Y

	
5

	  	
2

	  
	
215

	  	
0.00

	  	
92769.00

	
92769.00

	
Y

	
5

	  	
2

	  
	
216

	
0.00

	
0.00

	
0.00

	
22929.17

	
22929.17

	
Y

	
5

	  	
2

	  
	
217

	
0.00

	
860.00

	
0.00

	
15488.42

	
16348.42

	
Y

	
5

	  	
2

	  
	
218

	
8333.00

	
0.00

	
0.00

	
18333.00

	
18333.00

	
Y

	
5

	  	
2

	  
	
219

	
7750.00

	
644.00

	
0.00

	
16392.00

	
17036.00

	
Y

	
5

	  	
2

	  
	
220

	
7506.00

	
1875.00

	
0.00

	
21256.00

	
23131.00

	
Y

	
5

	  	
2

	  
	
221

	
0.00

	
17525.00

	
0.00

	
0.00

	
17525.00

	
Y

	
5

	  	
3

	  
	
222

	
0.00

	
44889.00

	
0.00

	
0.00

	
44889.00

	
Y

	
4

	  	
2

	  
	
223

	
0.00

	
48442.00

	
0.00

	
0.00

	
48442.00

	
Y

	
5

	  	
2

	  
	
224

	
0.00

	
2360.00

	
0.00

	
53352.00

	
55712.00

	
Y

	
5

	  	
2

	  
	
225

	
0.00

	
34267.17

	
0.00

	
0.00

	
34267.17

	
Y

	
5

	  	
3

	  
	
226

	
0.00

	
7485.83

	
0.00

	
12500.00

	
19985.83

	
Y

	
5

	  	
3

	  
	
227

	
0.00

	
7023.05

	
0.00

	
3914.83

	
10937.88

	
Y

	
5

	  	
2

	  
	
228

	
10350.00

	
0.00

	
0.00

	
27850.00

	
27850.00

	
Y

	
5

	  	
2

	  
	
229

	
0.00

	
0.00

	
0.00

	
52515.67

	
52515.67

	
Y

	
5

	  	
2

	  
	
230

	
0.00

	
0.00

	
0.00

	
17482.02

	
17482.02

	
Y

	
5

	  	
2

	  
	
231

	
0.00

	
63863.00

	
0.00

	
0.00

	
63863.00

	
Y

	
5

	  	
3

	  
	
232

	
0.00

	
12047.33

	
0.00

	
25447.00

	
37494.33

	
Y

	
5

	  	
2

	  
	
233

	
0.00

	
59716.00

	
0.00

	
0.00

	
59716.00

	
Y

	
5

	  	
2

	  
	
234

	
0.00

	
1036.00

	
0.00

	
69584.00

	
70620.00

	
Y

	
5

	  	
2

	  
	
235

	
0.00

	
14166.00

	
0.00

	  	
14166.00

	
Y

	
5

	  	
3

	  
	
236

	
12780.46

	
0.00

	
0.00

	
50938.06

	
50938.06

	
Y

	
5

	  	
2

	  
	
237

	
0.00

	
23637.00

	
0.00

	
0.00

	
23637.00

	
Y

	
5

	  	
2

	  
	
238

	
0.00

	
6088.00

	
0.00

	
16725.00

	
22813.00

	
Y

	
5

	  	
2

	  
	
239

	
0.00

	
45666.00

	
0.00

	
24167.00

	
69833.00

	
Y

	
5

	  	
2

	  
	
240

	
0.00

	
0.00

	
0.00

	
21458.00

	
21458.00

	
Y

	
5

	  	
2

	  
	
241

	
0.00

	
46014.00

	
0.00

	
0.00

	
46014.00

	
Y

	
5

	  	
2

	  
	
242

	
16666.67

	
18951.83

	
0.00

	
16666.67

	
35618.50

	
Y

	
5

	  	
2

	  
	
243

	  	
23198.00

	  	
0.00

	
23198.00

	
N

	
5

	  	
3

	  
	
244

	
0.00

	
88239.00

	
-2073.00

	
0.00

	
86166.00

	
Y

	
5

	  	
3

	  
	
245

	
0.00

	
0.00

	
0.00

	
56250.00

	
56250.00

	
Y

	
5

	  	
2

	  
	
246

	
0.00

	
0.00

	
0.00

	
71250.00

	
71250.00

	
Y

	
5

	  	
3

	  
	
247

	
0.00

	
178567.00

	
0.00

	  	
178567.00

	
Y

	
5

	  	
3

	  
	
248

	
0.00

	
0.00

	
0.00

	
88555.00

	
88555.00

	
Y

	
5

	  	
2

	  
	
249

	
0.00

	
28720.00

	
19519.00

	
0.00

	
48239.00

	
Y

	
5

	  	
3

	  
	
250

	
0.00

	
227.00

	
0.00

	
39029.00

	
39256.00

	
Y

	
5

	  	
2

	  
	
251

	
0.00

	
42785.00

	
0.00

	
0.00

	
42785.00

	
Y

	
5

	  	
3

	  
	
252

	
7174.00

	
3106.00

	
0.00

	
19674.00

	
22780.00

	
Y

	
5

	  	
3

	  
	
253

	
0.00

	
65169.00

	
0.00

	  	
65169.00

	
Y

	
5

	  	
2

	  
	
254

	
0.00

	
96692.00

	
0.00

	
0.00

	
96692.00

	
Y

	
5

	  	
3

	  
	
255

	
0.00

	
0.00

	
0.00

	
37500.00

	
37500.00

	
Y

	
5

	  	
2

	  
	
256

	
0.00

	
32640.42

	
0.00

	
13852.32

	
46492.74

	
Y

	
5

	  	
2

	  
	
257

	
37463.08

	
32352.00

	
0.00

	
76733.96

	
109085.96

	
Y

	
5

	  	
3

	  
	
258

	  	
0.00

	  	
118550.83

	
118550.83

	
Y

	
5

	  	
2

	  
	
259

	
10567.00

	
399.16

	
0.00

	
20983.66

	
21382.82

	
Y

	
5

	  	
3

	  
	
260

	  	
0.00

	  	
42750.00

	
42750.00

	
Y

	
5

	  	
3

	  
	
261

	
7618.00

	
0.00

	
0.00

	
40951.33

	
40951.33

	
Y

	
5

	  	
2

	  
	
262

	
0.00

	
0.00

	
0.00

	
66666.67

	
66666.67

	
Y

	
5

	  	
3

	  
	
263

	
0.00

	
28281.00

	
0.00

	
8957.00

	
37238.00

	
Y

	
5

	  	
3

	  
	
264

	
0.00

	
0.00

	
0.00

	
23752.61

	
23752.61

	
Y

	
5

	  	
3

	  
	
265

	  	
27980.83

	  	
0.00

	
27980.83

	
Y

	
5

	  	
3

	  
	
266

	
12038.00

	
65714.00

	
0.00

	
12038.00

	
77752.00

	
Y

	
5

	  	
3

	  
	
267

	
12610.00

	
-1050.00

	
-472.00

	
53176.00

	
51654.00

	
Y

	
5

	  	
2

	  
	
268

	
0.00

	
0.00

	
0.00

	
33333.33

	
33333.33

	
Y

	
4

	  	
3

	  
	
269

	  	
2290.00

	  	
31250.00

	
33540.00

	
Y

	
5

	  	
3

	  
	
270

	  	
0.00

	  	
41666.00

	
41666.00

	
N

	
5

	  	
3

	  
	
271

	
38498.34

	
8795.00

	
0.00

	
76993.68

	
85788.68

	
Y

	
5

	  	
2

	  
	
272

	  	
0.00

	  	
58850.00

	
58850.00

	
Y

	
5

	  	
2

	  
	
273

	  	
18907.00

	  	
0.00

	
18907.00

	
Y

	
5

	  	
3

	  
	
274

	
0.00

	
2071.00

	
0.00

	
35476.00

	
37547.00

	
Y

	
5

	  	
3

	  
	
275

	
0.00

	
800.91

	
0.00

	
30509.23

	
31310.14

	
Y

	
5

	  	
3

	  
	
276

	
0.00

	
25980.41

	
20150.70

	
21042.00

	
67173.11

	
Y

	
5

	  	
3

	  
	
277

	  	
5608.00

	  	
25000.00

	
30608.00

	
Y

	
5

	  	
2

	  
	
278

	
0.00

	
0.00

	
0.00

	
33333.34

	
33333.34

	
Y

	
5

	  	
3

	  
	
279

	
0.00

	
57183.00

	
0.00

	
54147.00

	
111330.00

	
Y

	
5

	  	
2

	  
	
280

	
0.00

	
0.00

	
0.00

	
28667.00

	
28667.00

	
Y

	
5

	  	
3

	  
	
281

	
0.00

	
218.00

	
0.00

	
46364.00

	
46582.00

	
Y

	
5

	  	
3

	  
	
282

	
0.00

	
0.00

	
0.00

	
20625.00

	
20625.00

	
Y

	
5

	  	
3

	  
	
283

	
0.00

	
2577.00

	
0.00

	
16667.00

	
19244.00

	
Y

	
5

	  	
2

	  
	
284

	
0.00

	
59632.46

	
0.00

	
53229.18

	
112861.64

	
Y

	
5

	  	
2

	  
	
285

	
0.00

	
0.00

	
0.00

	
22536.17

	
22536.17

	
Y

	
5

	  	
2

	  
	
286

	
1863.00

	
-10183.00

	
2923.00

	
26713.00

	
19453.00

	
Y

	
5

	  	
3

	  
	
287

	
1050.00

	
5955.00

	
0.00

	
11230.00

	
17185.00

	
Y

	
5

	  	
3

	  
	
288

	
0.00

	
1971.00

	
0.00

	
42425.00

	
44396.00

	
Y

	
5

	  	
3

	  
	
289

	
0.00

	
0.00

	
0.00

	
90000.00

	
90000.00

	
Y

	
5

	  	
3

	  
	
290

	
0.00

	
2478.00

	
0.00

	
28750.00

	
31228.00

	
Y

	
5

	  	
3

	  
	
291

	
0.00

	
-3310.00

	
0.00

	
32527.00

	
29217.00

	
Y

	
5

	  	
2

	  
	
292

	
0.00

	
0.00

	
0.00

	
44598.00

	
44598.00

	
Y

	
5

	  	
3

	  
	
293

	
0.00

	
231667.00

	
0.00

	
0.00

	
231667.00

	
Y

	
4

	  	
2

	  
	
294

	
0.00

	
0.00

	
0.00

	
27426.00

	
27426.00

	
Y

	
5

	  	
2

	  
	
295

	
0.00

	
39312.00

	
0.00

	
12528.00

	
51840.00

	
Y

	
5

	  	
2

	  
	
296

	  	
914.00

	  	
34145.00

	
35059.00

	
Y

	
5

	  	
3

	  
	
297

	
0.00

	
40028.00

	
0.00

	  	
40028.00

	
Y

	
5

	  	
3

	  
	
298

	  	
0.00

	  	
34546.00

	
34546.00

	
Y

	
5

	  	
3

	  
	
299

	  	
0.00

	  	
14063.00

	
14063.00

	
Y

	
5

	  	
3

	  
	
300

	
0.00

	
0.00

	
0.00

	
60593.00

	
60593.00

	
Y

	
5

	  	
3

	  
	
301

	
16552.00

	
0.00

	
0.00

	
30089.00

	
30089.00

	
Y

	
4

	  	
3

	  
	
302

	
19562.00

	
0.00

	
0.00

	
19562.00

	
19562.00

	
Y

	
5

	  	
3

	  











	  	
111

	
112

	
113

	
114

	
115

	
116

	
117

	
118

	
119

	
120


	
KEY

	
Borrower Asset


Verification

	
Co-Borrower Asset


Verification

	
Liquid / Cash


Reserves

	
Monthly Debt All


Borrowers

	
Originator DTI

	
Fully Indexed Rate

	
Qualification


Method

	
Percentage of Down


Payment from


Borrower Own


Funds

	
City

	
State


	
1

	
4

	  	
213942.34

	
5585.31

	
0.119537

	  	
1

	
0.000000

	
CHAPIN

	
SC


	
2

	
4

	  	
182688.87

	
15604.46

	
0.267145

	  	
1

	
0.000000

	
PARKER

	
CO


	
3

	
3

	  	
499760.62

	
5634.14

	
0.275526

	  	
1

	
0.000000

	
FEDERAL WAY

	
WA


	
4

	
4

	  	
62939.20

	
7606.06

	
0.234704

	  	
1

	
0.000000

	
OREGON CITY

	
OR


	
5

	
4

	  	
602675.00

	
6407.14

	
0.152630

	
 

	
1

	
100.000000

	
LA QUINTA

	
CA


	
6

	
4

	  	
112340.19

	
7315.31

	
0.179000

	  	
1

	
0.000000

	
ANN ARBOR

	
MI


	
7

	
3

	  	
32804.78

	
8681.84

	
0.260041

	  	
1

	
0.000000

	
SEATTLE

	
WA


	
8

	
4

	  	
803437.35

	
27968.83

	
0.281856

	  	
1

	
0.000000

	
CANNON BEACH

	
OR


	
9

	
4

	  	
905429.56

	
9572.23

	
0.189300

	  	
1

	
0.000000

	
WOODINVILLE

	
WA


	
10

	
4

	  	
104792.62

	
5137.88

	
0.255616

	  	
1

	
0.000000

	
FALMOUTH

	
ME


	
11

	
4

	  	
141329.01

	
6673.75

	
0.401000

	  	
1

	
0.000000

	
SOLON

	
OH


	
12

	
4

	  	
56775.72

	
12198.39

	
0.330800

	  	
1

	
0.000000

	
BRUNSWICK

	
ME


	
13

	
4

	  	
72591.40

	
11238.05

	
0.373300

	  	
1

	
0.000000

	
WOODINVILLE

	
WA


	
14

	
4

	  	
154999.83

	
19686.87

	
0.250700

	  	
1

	
0.000000

	
PORTLAND

	
OR


	
15

	
4

	  	
631624.63

	
8270.61

	
0.292920

	  	
1

	
0.000000

	
BELLINGHAM

	
WA


	
16

	
4

	  	
114488.08

	
7266.28

	
0.311412

	  	
1

	
0.000000

	
BELLEVUE

	
WA


	
17

	
4

	  	
903958.50

	
11865.80

	
0.382400

	  	
1

	
0.000000

	
WEST LINN

	
OR


	
18

	
4

	  	
187438.83

	
6483.44

	
0.153100

	  	
1

	
0.000000

	
ISSAQUAH

	
WA


	
19

	
4

	  	
234386.29

	
6595.94

	
0.116900

	  	
1

	
0.000000

	
STEILACOOM

	
WA


	
20

	
4

	  	
700864.26

	
10420.70

	
0.394400

	  	
1

	
100.000000

	
HINCKLEY

	
OH


	
21

	
4

	  	
525488.61

	
14366.62

	
0.375200

	  	
1

	
0.000000

	
MERCER ISLAND

	
WA


	
22

	
4

	  	
574091.55

	
4587.44

	
0.148648

	  	
1

	
0.000000

	
   CHERRY HILLS VILLAGE

	
CO


	
23

	
3

	  	
358252.69

	
9667.59

	
0.246900

	  	
1

	
100.000000

	
GIG HARBOR

	
WA


	
24

	
4

	  	
2013483.23

	
11807.23

	
0.266036

	  	
1

	
100.000000

	
SEATTLE

	
WA


	
25

	
4

	  	
101923.26

	
5492.65

	
0.254100

	  	
1

	
0.000000

	
SEATTLE

	
WA


	
26

	
4

	  	
354557.59

	
17337.49

	
0.370900

	  	
1

	
91.660000

	
LAKE LEELANAU

	
MI


	
27

	
4

	  	
176546.62

	
8728.33

	
0.225757

	  	
1

	
0.000000

	
AUSTIN

	
TX


	
28

	
4

	  	
682318.22

	
12526.07

	
0.302800

	  	
1

	
0.000000

	
LOUDON

	
TN


	
29

	
4

	  	
310460.51

	
8121.26

	
0.242900

	  	
1

	
100.000000

	
HENDERSONVILLE

	
TN


	
30

	
4

	  	
146889.50

	
6784.96

	
0.172870

	  	
1

	
0.000000

	
COLLIERVILLE

	
TN


	
31

	
4

	  	
581146.19

	
11273.21

	
0.189529

	  	
1

	
100.000000

	
CHATHAM

	
NJ


	
32

	
4

	  	
197875.98

	
5237.09

	
0.229200

	  	
1

	
100.000000

	
PALM HARBOR

	
FL


	
33

	
4

	  	
55910.82

	
6962.98

	
0.309668

	  	
1

	
0.000000

	
EDWARDS

	
CO


	
34

	
4

	  	
282560.60

	
6762.97

	
0.330175

	  	
1

	
0.000000

	
FREMONT

	
CA


	
35

	
3

	  	
645197.53

	
6218.97

	
0.349926

	  	
1

	
0.000000

	
PLANO

	
TX


	
36

	
3

	  	
111296.70

	
5554.64

	
0.376969

	  	
1

	
100.000000

	
AUSTIN

	
TX


	
37

	
4

	  	
509851.70

	
15255.74

	
0.245215

	  	
1

	
100.000000

	
SACRAMENTO

	
CA


	
38

	
4

	  	
125423.79

	
5703.71

	
0.148200

	  	
1

	
0.000000

	
ATLANTA

	
GA


	
39

	
4

	  	
2473202.94

	
5571.68

	
0.374542

	  	
1

	
100.000000

	
SEVERNA PARK

	
MD


	
40

	
4

	  	
397810.21

	
8059.60

	
0.381004

	  	
1

	
100.000000

	
TEMPE

	
AZ


	
41

	
4

	  	
82162.55

	
7811.03

	
0.390552

	  	
1

	
100.000000

	
LEAWOOD

	
KS


	
42

	
4

	  	
493414.45

	
4687.91

	
0.321457

	  	
1

	
100.000000

	
SEATTLE

	
WA


	
43

	
4

	  	
960057.34

	
10034.90

	
0.403469

	  	
1

	
33.330000

	
EL DORADO HILLS

	
CA


	
44

	
3

	  	
290687.23

	
7582.18

	
0.355637

	  	
1

	
0.000000

	
NAPERVILLE

	
IL


	
45

	
4

	  	
453538.33

	
4832.53

	
0.362449

	  	
1

	
100.000000

	
SEATTLE

	
WA


	
46

	
4

	  	
111055.99

	
5414.08

	
0.366683

	  	
1

	
0.000000

	
ANNAPOLIS

	
MD


	
47

	
4

	  	
171504.31

	
7091.52

	
0.383918

	  	
1

	
100.000000

	
SEVERNA PARK

	
MD


	
48

	
4

	  	
129077.02

	
4145.87

	
0.276391

	  	
1

	
100.000000

	
GOLDEN

	
CO


	
49

	
4

	  	
517824.82

	
9965.31

	
0.087044

	  	
1

	
0.000000

	
ATHERTON

	
CA


	
50

	
4

	  	
112075.56

	
8316.12

	
0.295559

	  	
1

	
100.000000

	
LUTZ

	
FL


	
51

	
4

	  	
2049651.10

	
7704.52

	
0.224777

	  	
1

	
0.000000

	
SOLANA BEACH

	
CA


	
52

	
4

	  	
961047.36

	
6442.57

	
0.201966

	  	
1

	
100.000000

	
CAREFREE

	
AZ


	
53

	
4

	  	
193675.62

	
5468.96

	
0.144800

	  	
1

	
0.000000

	
TULSA

	
OK


	
54

	
4

	  	
866551.47

	
11462.23

	
0.343870

	  	
1

	
100.000000

	
CLYDE HILL

	
WA


	
55

	
4

	  	
195234.29

	
11536.95

	
0.389973

	  	
1

	
0.000000

	
ARCADIA

	
CA


	
56

	
3

	  	
379303.09

	
4427.38

	
0.297140

	  	
1

	
100.000000

	
CARMEL

	
IN


	
57

	
3

	  	
222233.52

	
4633.44

	
0.300541

	  	
1

	
0.000000

	
ANN ARBOR

	
MI


	
58

	
4

	  	
387226.72

	
4752.73

	
0.025114

	  	
1

	
0.000000

	
TOMBALL

	
TX


	
59

	
4

	  	
548362.78

	
6300.45

	
0.197866

	  	
1

	
100.000000

	
NEWBURYPORT

	
MA


	
60

	
4

	  	
4207001.47

	
9664.99

	
0.370079

	  	
1

	
100.000000

	
RANCHO SANTA FE

	
CA


	
61

	
4

	  	
237928.33

	
8486.37

	
0.270600

	  	
1

	
100.000000

	
VESTAVIA

	
AL


	
62

	
4

	  	
114064.47

	
5584.91

	
0.151904

	  	
1

	
0.000000

	
GREENWOOD VILLAGE

	
CO


	
63

	
4

	  	
448869.64

	
6522.45

	
0.175500

	  	
1

	
100.000000

	
GARDEN RIDGE

	
TX


	
64

	
4

	  	
209552.97

	
5197.86

	
0.223479

	  	
1

	
0.000000

	
PHILADELPHIA

	
PA


	
65

	
4

	  	
74275.72

	
4368.99

	
0.265592

	  	
1

	
100.000000

	
NASHVILLE

	
TN


	
66

	
4

	  	
1332858.66

	
6408.04

	
0.333006

	  	
1

	
0.000000

	
ORCHARD LAKE

	
MI


	
67

	
4

	  	
368704.83

	
7336.10

	
0.258924

	  	
1

	
77.060000

	
SCARSDALE

	
NY


	
68

	
4

	  	
1158246.89

	
26567.85

	
0.325700

	  	
1

	
0.000000

	
HARBOR SPRINGS

	
MI


	
69

	
4

	  	
262503.58

	
4655.58

	
0.238600

	  	
1

	
100.000000

	
CHARLESTON

	
SC


	
70

	
4

	  	
464243.14

	
25544.54

	
0.337257

	  	
1

	
100.000000

	
ARVADA

	
CO


	
71

	
4

	  	
324295.21

	
7012.35

	
0.308000

	  	
1

	
0.000000

	
NOVATO

	
CA


	
72

	
3

	  	
758651.59

	
12300.47

	
0.398938

	  	
1

	
0.000000

	
GREENWICH

	
CT


	
73

	
4

	  	
97686.40

	
7136.09

	
0.327400

	  	
1

	
0.000000

	
BOULDER

	
CO


	
74

	
4

	  	
338841.50

	
5966.82

	
0.354500

	  	
1

	
0.000000

	
MOORESVILLE

	
NC


	
75

	
4

	  	
210459.00

	
4345.04

	
0.216900

	  	
1

	
0.000000

	
DENVER

	
CO


	
76

	
3

	  	
153816.84

	
13516.07

	
0.383005

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
77

	
4

	  	
648002.77

	
29392.92

	
0.167800

	  	
1

	
100.000000

	
DALLAS

	
TX


	
78

	
4

	  	
153454.17

	
4351.37

	
0.427876

	  	
1

	
100.000000

	
YARDLEY

	
PA


	
79

	
4

	  	
200617.72

	
5070.28

	
0.373900

	  	
1

	
100.000000

	
PRINCETON JUNCTION

	
NJ


	
80

	
4

	  	
90926.30

	
6968.96

	
0.305700

	  	
1

	
0.000000

	
TUCSON

	
AZ


	
81

	
3

	  	
437559.45

	
11059.15

	
0.217533

	  	
1

	
0.000000

	
ANAHEIM HILLS

	
CA


	
82

	
4

	  	
382703.42

	
5010.18

	
0.354400

	  	
1

	
100.000000

	
RENO

	
NV


	
83

	
4

	  	
166034.88

	
8194.80

	
0.374696

	  	
1

	
100.000000

	
RIVER FOREST

	
IL


	
84

	
4

	  	
363195.64

	
5650.22

	
0.386800

	  	
1

	
100.000000

	
HONOLULU

	
HI


	
85

	
3

	  	
102060.23

	
5219.72

	
0.243400

	  	
1

	
0.000000

	
CLAYTON

	
MO


	
86

	
4

	  	
356168.35

	
6088.35

	
0.358900

	  	
1

	
0.000000

	
SHAVER LAKE

	
CA


	
87

	
4

	  	
2219964.70

	
25865.75

	
0.261200

	  	
1

	
100.000000

	
MONTVILLE

	
NJ


	
88

	
4

	  	
1411860.88

	
11091.18

	
0.181285

	  	
1

	
0.000000

	
ARLINGTON

	
VA


	
89

	
4

	  	
168631.67

	
6106.14

	
0.386900

	  	
1

	
100.000000

	
BOLTON

	
MA


	
90

	
3

	  	
312050.13

	
7431.36

	
0.197500

	  	
1

	
0.000000

	
OAKTON

	
VA


	
91

	
4

	  	
32633.35

	
8188.10

	
0.251942

	  	
1

	
100.000000

	
AUSTIN

	
TX


	
92

	
4

	  	
876056.19

	
7206.90

	
0.311200

	  	
1

	
0.000000

	
SAN MARINO

	
CA


	
93

	
4

	  	
70065.96

	
7293.56

	
0.404333

	  	
1

	
0.000000

	
SAN JOSE

	
CA


	
94

	
4

	  	
348570.37

	
6567.30

	
0.262700

	  	
1

	
0.000000

	
PLAYA DEL REY

	
CA


	
95

	
4

	  	
532708.23

	
23862.21

	
0.286800

	  	
1

	
100.000000

	
LUDLOW

	
VT


	
96

	
4

	  	
130898.64

	
4518.84

	
0.398200

	  	
1

	
0.000000

	
SUPERIOR TOWNSHIP

	
MI


	
97

	
4

	  	
103875.40

	
4591.57

	
0.286454

	  	
1

	
0.000000

	
DOWNINGTOWN

	
PA


	
98

	
4

	  	
234751.03

	
4435.49

	
0.272953

	  	
1

	
80.760000

	
NEW ORLEANS

	
LA


	
99

	
3

	  	
51293.31

	
11617.87

	
0.368800

	  	
1

	
0.000000

	
WAYZATA

	
MN


	
100

	
3

	  	
1016033.80

	
6464.02

	
0.293679

	  	
1

	
0.000000

	
SEATTLE

	
WA


	
101

	
4

	  	
1145411.51

	
8169.99

	
0.372700

	  	
1

	
0.000000

	
WOODSIDE

	
CA


	
102

	
3

	  	
893555.13

	
8120.75

	
0.243622

	  	
1

	
0.000000

	
WINNETKA

	
IL


	
103

	
4

	  	
382577.62

	
23090.39

	
0.328478

	  	
1

	
100.000000

	
LONGMONT

	
CO


	
104

	
4

	  	
818682.50

	
6792.84

	
0.303400

	  	
1

	
0.000000

	
MUNDELEIN

	
IL


	
105

	
4

	  	
343793.85

	
7743.23

	
0.388000

	  	
1

	
100.000000

	
KIRKLAND

	
WA


	
106

	
4

	  	
2504941.49

	
6065.98

	
0.370400

	  	
1

	
0.000000

	
ASPEN

	
CO


	
107

	
4

	  	
200151.26

	
8319.69

	
0.314200

	  	
1

	
0.000000

	
SAN DIEGO

	
CA


	
108

	
4

	  	
50290.28

	
8390.77

	
0.178152

	  	
1

	
0.000000

	
VASHON

	
WA


	
109

	
4

	  	
214579.91

	
9746.09

	
0.141800

	  	
1

	
0.000000

	
SHORT HILLS

	
NJ


	
110

	
4

	  	
272508.04

	
6009.69

	
0.220539

	  	
1

	
0.000000

	
THORNWOOD

	
NY


	
111

	
4

	  	
73991.84

	
5926.41

	
0.215005

	  	
1

	
0.000000

	
RANCHO CUCAMONGA

	
CA


	
112

	
4

	  	
89954.11

	
4144.96

	
0.347900

	  	
1

	
100.000000

	
WESTFORD

	
MA


	
113

	
4

	  	
1921542.08

	
9654.98

	
0.362200

	  	
1

	
100.000000

	
EASTON

	
MD


	
114

	
3

	  	
1050873.17

	
4624.25

	
0.309500

	  	
1

	
0.000000

	
MENDOCINO

	
CA


	
115

	
4

	  	
297841.69

	
5112.48

	
0.390800

	  	
1

	
100.000000

	
PALMETTO BAY

	
FL


	
116

	
4

	  	
3847995.00

	
13038.54

	
0.264208

	  	
1

	
0.000000

	
OKLAHOMA CITY

	
OK


	
117

	
4

	  	
71637.32

	
6150.01

	
0.325161

	  	
1

	
0.000000

	
SUDBURY

	
MA


	
118

	
3

	  	
253996.00

	
6148.18

	
0.229778

	  	
1

	
0.000000

	
SEATTLE

	
WA


	
119

	
4

	  	
1421270.12

	
13712.19

	
0.285486

	  	
1

	
0.000000

	
ACTON

	
MA


	
120

	
4

	  	
177506.04

	
7613.86

	
0.308200

	  	
1

	
0.000000

	
FOREST HILLS

	
NY


	
121

	
3

	  	
2419140.81

	
7979.65

	
0.205300

	  	
1

	
0.000000

	
WINNETKA

	
IL


	
122

	
4

	  	
1188854.89

	
8869.03

	
0.264900

	  	
1

	
0.000000

	
LAFAYETTE

	
CA


	
123

	
4

	  	
182281.81

	
4758.58

	
0.205625

	  	
1

	
100.000000

	
SCOTTSDALE

	
AZ


	
124

	
4

	  	
718080.52

	
21705.89

	
0.297284

	  	
1

	
100.000000

	
SAN ANTONIO

	
TX


	
125

	
4

	  	
2137462.91

	
4869.29

	
0.338500

	  	
1

	
100.000000

	
SCOTTSDALE

	
AZ


	
126

	
4

	  	
924004.83

	
4574.77

	
0.163618

	  	
1

	
100.000000

	
BOISE

	
ID


	
127

	
3

	  	
1008459.80

	
15622.00

	
0.131636

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
128

	
3

	  	
5300451.00

	
12968.09

	
0.379869

	  	
1

	
0.000000

	
HILLSBOROUGH

	
CA


	
129

	
3

	  	
750606.12

	
9899.63

	
0.296125

	  	
1

	
100.000000

	
KENWOOD

	
CA


	
130

	
3

	  	
2242477.50

	
9104.21

	
0.296474

	  	
1

	
100.000000

	
LOS ALTOS HILLS

	
CA


	
131

	
3

	  	
2268380.00

	
28225.69

	
0.202251

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
132

	
3

	  	
3533931.34

	
8397.76

	
0.244975

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
133

	
3

	  	
120869.03

	
8698.19

	
0.493396

	  	
1

	
0.000000

	
TIBURON

	
CA


	
134

	
3

	  	
1166592.10

	
9510.56

	
0.326076

	  	
1

	
100.000000

	
MENLO PARK

	
CA


	
135

	
4

	  	
476915.30

	
10380.80

	
0.353545

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
136

	
4

	  	
505569.20

	
9643.59

	
0.318782

	  	
1

	
0.000000

	
PIEDMONT

	
CA


	
137

	
3

	  	
2966535.70

	
7928.18

	
0.216223

	  	
1

	
100.000000

	
PORTLAND

	
OR


	
138

	
3

	  	
544164.26

	
11910.74

	
0.263869

	  	
1

	
0.000000

	
ATHERTON

	
CA


	
139

	
3

	  	
797542.72

	
9232.96

	
0.210943

	  	
1

	
0.000000

	
LOS ALTOS

	
CA


	
140

	
4

	  	
449643.88

	
14676.91

	
0.396084

	  	
1

	
100.000000

	
NEWTON

	
MA


	
141

	
3

	  	
439918.66

	
10269.20

	
0.351985

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
142

	
3

	  	
391532.39

	
11740.18

	
0.245387

	  	
1

	
0.000000

	
PIEDMONT

	
CA


	
143

	
3

	  	
454550.02

	
27832.78

	
0.422727

	  	
1

	
0.000000

	
NEWPORT BEACH

	
CA


	
144

	
3

	  	
625180.54

	
7875.42

	
0.322548

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
145

	
3

	  	
862921.24

	
7121.97

	
0.411785

	  	
1

	
63.760000

	
SAN FRANCISCO

	
CA


	
146

	
3

	  	
157999.12

	
8252.46

	
0.330059

	  	
1

	
0.000000

	
BERKELEY

	
CA


	
147

	
3

	  	
805308.93

	
7724.74

	
0.329015

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
148

	
3

	  	
3968038.04

	
11132.09

	
0.353570

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
149

	
3

	  	
1279796.66

	
7391.40

	
0.391545

	  	
1

	
0.000000

	
PHOENIX

	
AZ


	
150

	
4

	  	
813985.45

	
12263.46

	
0.392883

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
151

	
4

	  	
407300.26

	
7418.33

	
0.221889

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
152

	
3

	  	
4194652.87

	
23855.84

	
0.299606

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
153

	
4

	  	
822022.59

	
7875.29

	
0.157560

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
154

	
3

	  	
1320244.51

	
12472.20

	
0.434133

	  	
1

	
100.000000

	
NAPA

	
CA


	
155

	
3

	  	
741639.65

	
6567.30

	
0.246280

	  	
1

	
59.010000

	
SAN MATEO

	
CA


	
156

	
4

	  	
1010635.74

	
8895.47

	
0.394180

	  	
1

	
100.000000

	
LOS GATOS

	
CA


	
157

	
3

	  	
1166013.76

	
9604.13

	
0.231254

	  	
1

	
100.000000

	
CALISTOGA

	
CA


	
158

	
3

	  	
6467131.39

	
11660.88

	
0.437376

	  	
1

	
0.000000

	
RYE

	
NH


	
159

	
3

	  	
142523.48

	
9086.40

	
0.242304

	  	
1

	
0.000000

	
BOSTON

	
MA


	
160

	
3

	  	
1141005.44

	
15533.33

	
0.416320

	  	
1

	
42.850000

	
PIEDMONT

	
CA


	
161

	
3

	  	
988067.80

	
13143.76

	
0.147912

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
162

	
4

	  	
261356.20

	
4446.14

	
0.364737

	  	
1

	
100.000000

	
BEDFORD

	
MA


	
163

	
4

	  	
230273.83

	
9731.11

	
0.369470

	  	
1

	
0.000000

	
SUNOL

	
CA


	
164

	
3

	  	
1039925.78

	
16447.95

	
0.358864

	  	
1

	
100.000000

	
LOS GATOS

	
CA


	
165

	
3

	  	
177260.83

	
9128.55

	
0.230000

	  	
1

	
0.000000

	
HILLSBOROUGH

	
CA


	
166

	
4

	  	
1928951.76

	
9185.18

	
0.141856

	  	
1

	
100.000000

	
RYE

	
NY


	
167

	
4

	  	
586094.02

	
22456.67

	
0.396075

	  	
1

	
0.000000

	
PORTOLA VALLEY

	
CA


	
168

	
3

	  	
1108842.63

	
8132.69

	
0.441778

	  	
1

	
0.000000

	
MILL VALLEY

	
CA


	
169

	
3

	  	
520672.04

	
8749.02

	
0.374878

	  	
1

	
0.000000

	
LOS ALTOS

	
CA


	
170

	
3

	  	
699177.64

	
9730.28

	
0.110000

	  	
1

	
0.000000

	
DUXBURY

	
MA


	
171

	
4

	  	
738514.90

	
12382.56

	
0.247246

	  	
1

	
0.000000

	
HILLSBOROUGH

	
CA


	
172

	
3

	  	
270131.78

	
8096.47

	
0.290009

	  	
1

	
0.000000

	
HILLSBOROUGH

	
CA


	
173

	
3

	  	
310473.57

	
7063.83

	
0.201801

	  	
1

	
0.000000

	
OAKLAND

	
CA


	
174

	
4

	  	
582954.47

	
13229.17

	
0.343240

	  	
1

	
100.000000

	
NAPA

	
CA


	
175

	
3

	  	
2873632.43

	
13253.20

	
0.445770

	  	
1

	
100.000000

	
NEWPORT BEACH

	
CA


	
176

	
3

	  	
544118.96

	
8765.10

	
0.151292

	  	
1

	
0.000000

	
SAUSALITO

	
CA


	
177

	
3

	  	
465237.42

	
8422.85

	
0.296872

	  	
1

	
0.000000

	
HILLSBOROUGH

	
CA


	
178

	
3

	  	
1236318.66

	
9173.07

	
0.315584

	  	
1

	
100.000000

	
PORTOLA VALLEY

	
CA


	
179

	
3

	  	
3807175.06

	
28626.33

	
0.100000

	  	
1

	
100.000000

	
BRIDGEHAMPTON

	
NY


	
180

	
4

	  	
421949.63

	
9654.91

	
0.272607

	  	
1

	
100.000000

	
ROSS

	
CA


	
181

	
3

	  	
869636.39

	
12186.35

	
0.223513

	  	
1

	
0.000000

	
SANTA MONICA

	
CA


	
182

	
4

	  	
749222.69

	
9055.17

	
0.284146

	  	
1

	
0.000000

	
LAGUNA BEACH

	
CA


	
183

	
3

	  	
2137265.01

	
9164.98

	
0.191268

	  	
1

	
0.000000

	
MILL VALLEY

	
CA


	
184

	
3

	  	
498381.00

	
8091.40

	
0.109920

	  	
1

	
0.000000

	
WENHAM

	
MA


	
185

	
3

	  	
1292695.08

	
8883.47

	
0.417626

	  	
1

	
0.000000

	
LOS ALTOS HILLS

	
CA


	
186

	
4

	  	
408385.82

	
7862.64

	
0.450000

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
187

	
4

	  	
1256363.47

	
6814.16

	
0.364069

	  	
1

	
100.000000

	
MENLO PARK

	
CA


	
188

	
4

	  	
1805671.00

	
17026.08

	
0.370000

	  	
1

	
100.000000

	
LOS ANGELES

	
CA


	
189

	
3

	  	
3546691.00

	
14775.09

	
0.350000

	  	
1

	
0.000000

	
BELVEDERE TIBURON

	
CA


	
190

	
3

	  	
2002375.00

	
9937.92

	
0.120000

	  	
1

	
0.000000

	
LOS ALTOS

	
CA


	
191

	
3

	  	
569468.00

	
7570.67

	
0.150000

	  	
1

	
0.000000

	
WELLESLEY

	
MA


	
192

	
3

	  	
241085.58

	
4673.88

	
0.190000

	  	
1

	
0.000000

	
DARIEN

	
CT


	
193

	
3

	  	
366437.00

	
4755.08

	
0.290000

	  	
1

	
0.000000

	
SAN DIEGO

	
CA


	
194

	
3

	  	
2543920.00

	
9005.00

	
0.340000

	  	
1

	
0.000000

	
HIDDEN HILLS

	
CA


	
195

	
3

	  	
13214478.00

	
19020.67

	
0.190000

	  	
1

	
0.000000

	
BURLINGAME

	
CA


	
196

	
3

	  	
274986.10

	
6802.69

	
0.090000

	  	
1

	
0.000000

	
DARIEN

	
CT


	
197

	
3

	  	
475274.00

	
10524.76

	
0.170000

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
198

	
3

	  	
901080.29

	
8003.84

	
0.090000

	  	
1

	
0.000000

	
NANTUCKET

	
MA


	
199

	
3

	  	
2960248.48

	
11469.48

	
0.432000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
200

	
3

	  	
844080.30

	
6906.50

	
0.400000

	  	
1

	
0.000000

	
MILL VALLEY

	
CA


	
201

	
3

	  	
295894.00

	
6258.75

	
0.130000

	  	
1

	
0.000000

	
NEW YORK

	
NY


	
202

	
3

	  	
1462693.35

	
11536.83

	
0.260000

	  	
1

	
0.000000

	
GREENWICH

	
CT


	
203

	
3

	  	
3163218.82

	
12937.40

	
0.390000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
204

	
3

	  	
3158317.20

	
12910.87

	
0.400000

	  	
1

	
0.000000

	
STINSON BEACH

	
CA


	
205

	
4

	  	
771015.30

	
14686.42

	
0.320000

	  	
1

	
0.000000

	
NEW YORK

	
NY


	
206

	
3

	  	
7410159.00

	
17281.65

	
0.537400

	  	
1

	
0.000000

	
PIEDMONT

	
CA


	
207

	
3

	  	
11636069.00

	
16094.25

	
0.120000

	  	
1

	
0.000000

	
KENTFIELD

	
CA


	
208

	
3

	  	
2378539.53

	
9905.18

	
0.150000

	  	
1

	
0.000000

	
WELLESLEY

	
MA


	
209

	
3

	  	
2027583.05

	
18765.67

	
0.320000

	  	
1

	
100.000000

	
LOS ANGELES

	
CA


	
210

	
3

	  	
635742.26

	
12101.80

	
0.380000

	  	
1

	
0.000000

	
NEEDHAM

	
MA


	
211

	
3

	  	
45405.20

	
5069.54

	
0.260000

	  	
1

	
0.000000

	
MOUNTAIN VIEW

	
CA


	
212

	
3

	  	
2997238.12

	
10350.51

	
0.202526

	  	
1

	
0.000000

	
BROOKLYN

	
NY


	
213

	
3

	  	
13260424.57

	
14477.76

	
0.211518

	  	
1

	
0.000000

	
MANHATTAN BEACH

	
CA


	
214

	
3

	  	
1784159.00

	
12936.84

	
0.190000

	  	
1

	
0.000000

	
SANTA MONICA

	
CA


	
215

	
3

	  	
729067.98

	
10107.85

	
0.120000

	  	
1

	
0.000000

	
EAST HAMPTON

	
NY


	
216

	
3

	  	
2950384.00

	
7837.03

	
0.390000

	  	
1

	
0.000000

	
BURLINGAME

	
CA


	
217

	
3

	  	
2357610.00

	
6590.84

	
0.400000

	  	
1

	
100.000000

	
PIEDMONT

	
CA


	
218

	
3

	  	
963572.63

	
5221.50

	
0.280000

	  	
1

	
100.000000

	
CARLSBAD

	
CA


	
219

	
3

	  	
1801444.00

	
6149.63

	
0.380000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
220

	
3

	  	
799145.00

	
7460.87

	
0.320000

	  	
1

	
100.000000

	
SAN MATEO

	
CA


	
221

	
3

	  	
2344901.00

	
8117.67

	
0.463205

	  	
1

	
0.000000

	
DOVER

	
MA


	
222

	
3

	  	
4252327.76

	
13855.97

	
0.308672

	  	
1

	
100.000000

	
CARMEL

	
CA


	
223

	
3

	  	
4027518.00

	
7492.75

	
0.150000

	  	
1

	
0.000000

	
BOSTON

	
MA


	
224

	
3

	  	
6236201.63

	
21378.65

	
0.383735

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
225

	
3

	  	
4517214.65

	
12246.01

	
0.357400

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
226

	
3

	  	
2411383.71

	
13251.84

	
0.557200

	  	
1

	
0.000000

	
KINGS POINT

	
NY


	
227

	
3

	  	
3841938.00

	
3968.54

	
0.360000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
228

	
4

	  	
734863.26

	
8374.46

	
0.360000

	  	
1

	
100.000000

	
MOUNTAIN VIEW

	
CA


	
229

	
3

	  	
7291359.00

	
10999.83

	
0.210000

	  	
1

	
0.000000

	
SAN MATEO

	
CA


	
230

	
3

	  	
1169001.00

	
5926.48

	
0.339004

	  	
1

	
0.000000

	
LONG BEACH

	
CA


	
231

	
3

	  	
5240221.00

	
20197.96

	
0.316270

	  	
1

	
100.000000

	
SANTA MONICA

	
CA


	
232

	
3

	  	
4058030.00

	
8817.03

	
0.235156

	  	
1

	
0.000000

	
ORINDA

	
CA


	
233

	
3

	  	
975357.00

	
7134.76

	
0.120000

	  	
1

	
0.000000

	
OAKLAND

	
CA


	
234

	
3

	  	
3521409.57

	
17021.50

	
0.241029

	  	
1

	
100.000000

	
WOODSIDE

	
CA


	
235

	
3

	  	
12106046.71

	
3878.29

	
0.310000

	  	
1

	
0.000000

	
ATHERTON

	
CA


	
236

	
3

	  	
3702139.00

	
7617.25

	
0.150000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
237

	
3

	  	
454096.00

	
5336.30

	
0.230000

	  	
1

	
100.000000

	
LOS ANGELES

	
CA


	
238

	
3

	  	
5876747.00

	
8700.87

	
0.380000

	  	
1

	
0.000000

	
PEBBLE BEACH

	
CA


	
239

	
3

	  	
14976169.00

	
26176.48

	
0.370000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
240

	
4

	  	
1134653.00

	
6635.07

	
0.330000

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
241

	
3

	  	
3921470.67

	
7892.75

	
0.170000

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
242

	
3

	  	
6286304.29

	
9415.18

	
0.260000

	  	
1

	
0.000000

	
ROSS

	
CA


	
243

	
3

	  	
6710190.00

	
7872.58

	
0.584300

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
244

	
3

	  	
10439022.00

	
21787.11

	
0.254178

	  	
1

	
0.000000

	
KETCHUM

	
ID


	
245

	
4

	  	
2249235.00

	
9916.17

	
0.180000

	  	
1

	
100.000000

	
DANVILLE

	
CA


	
246

	
3

	  	
2878619.00

	
8038.44

	
0.112820

	  	
1

	
0.000000

	
LOS ALTOS

	
CA


	
247

	
3

	  	
20759565.31

	
24982.81

	
0.139907

	  	
1

	
0.000000

	
SANTA MONICA

	
CA


	
248

	
3

	  	
11535754.00

	
12404.67

	
0.140000

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
249

	
3

	  	
4814144.00

	
20052.89

	
0.413630

	  	
1

	
0.000000

	
HOMEWOOD

	
CA


	
250

	
3

	  	
2243904.00

	
16288.13

	
0.410000

	  	
1

	
100.000000

	
LOS ANGELES

	
CA


	
251

	
3

	  	
6582350.00

	
11790.30

	
0.275571

	  	
1

	
0.000000

	
NOVATO

	
CA


	
252

	
3

	  	
3294813.00

	
8716.08

	
0.382620

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
253

	
3

	  	
1854289.99

	
13769.67

	
0.210000

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
254

	
3

	  	
5795732.00

	
9303.91

	
0.096221

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
255

	
3

	  	
3586868.00

	
7612.50

	
0.190000

	  	
1

	
0.000000

	
MENLO PARK

	
CA


	
256

	
4

	  	
1455656.13

	
18513.82

	
0.398209

	  	
1

	
100.000000

	
NEW CANAAN

	
CT


	
257

	
3

	  	
6485324.00

	
25422.92

	
0.233054

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
258

	
3

	  	
4693412.00

	
20936.37

	
0.176602

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
259

	
4

	  	
874850.96

	
6236.00

	
0.291636

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
260

	
3

	  	
489755.72

	
12626.62

	
0.295360

	  	
1

	
0.000000

	
LOS GATOS

	
CA


	
261

	
4

	  	
740515.51

	
10946.01

	
0.267293

	  	
1

	
100.000000

	
NEW YORK

	
NY


	
262

	
3

	  	
321383.78

	
27792.64

	
0.416890

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
263

	
3

	  	
762452.40

	
10310.47

	
0.380000

	  	
1

	
0.000000

	
SAN DIEGO

	
CA


	
264

	
4

	  	
399491.04

	
6032.18

	
0.253959

	  	
1

	
100.000000

	
LOS ALTOS

	
CA


	
265

	
3

	  	
492536.21

	
6080.75

	
0.376223

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
266

	
4

	  	
1914178.00

	
21385.42

	
0.275047

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
267

	
4

	  	
1160993.06

	
16765.13

	
0.324566

	  	
1

	
100.000000

	
MILL VALLEY

	
CA


	
268

	
4

	  	
1203948.48

	
9988.11

	
0.299643

	  	
1

	
100.000000

	
MENLO PARK

	
CA


	
269

	
3

	  	
5526449.28

	
10692.07

	
0.318786

	  	
1

	
0.000000

	
SAN DIEGO

	
CA


	
270

	
4

	  	
2517427.34

	
15234.66

	
0.365638

	  	
1

	
100.000000

	
PIEDMONT

	
CA


	
271

	
3

	  	
497697.05

	
13488.25

	
0.157226

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
272

	
3

	  	
1444987.45

	
6030.50

	
0.100000

	  	
1

	
100.000000

	
NEW CANAAN

	
CT


	
273

	
3

	  	
1203617.64

	
4375.77

	
0.231437

	  	
1

	
0.000000

	
GRASS VALLEY

	
CA


	
274

	
3

	  	
528182.96

	
9091.04

	
0.256259

	  	
1

	
100.000000

	
POWAY

	
CA


	
275

	
3

	  	
415235.61

	
9656.95

	
0.308429

	  	
1

	
0.000000

	
TIBURON

	
CA


	
276

	
3

	  	
1621114.91

	
9682.30

	
0.144140

	  	
1

	
0.000000

	
LOS ANGELES

	
CA


	
277

	
3

	  	
4901836.26

	
10568.77

	
0.345294

	  	
1

	
100.000000

	
SAN FRANCISCO

	
CA


	
278

	
3

	  	
1097016.98

	
9126.83

	
0.273805

	  	
1

	
0.000000

	
MENLO PARK

	
CA


	
279

	
3

	  	
11724363.13

	
14892.83

	
0.133772

	  	
1

	
0.000000

	
MENLO PARK

	
CA


	
280

	
3

	  	
1335424.93

	
9792.17

	
0.341583

	  	
1

	
100.000000

	
LOS ANGELES

	
CA


	
281

	
4

	  	
935423.17

	
7357.01

	
0.157937

	  	
1

	
0.000000

	
SAN FRANCISCO

	
CA


	
282

	
4

	  	
361276.54

	
7282.50

	
0.353091

	  	
1

	
0.000000

	
BURLINGAME

	
CA


	
283

	
4

	  	
696531.21

	
8034.16

	
0.417489

	  	
1

	
100.000000

	
SCARSDALE

	
NY


	
284

	
3

	  	
36766383.15

	
44042.29

	
0.390000

	  	
1

	
0.000000

	
ATHERTON

	
CA


	
285

	
3

	  	
450434.57

	
8190.50

	
0.363438

	  	
1

	
0.000000

	
PORTOLA VALLEY

	
CA


	
286

	
3

	  	
836014.46

	
9672.61

	
0.497230

	  	
1

	
0.000000

	
WINCHESTER

	
MA


	
287

	
3

	  	
861247.05

	
5981.12

	
0.467677

	  	
1

	
100.000000

	
LAFAYETTE

	
CA


	
288

	
4

	  	
1736906.56

	
15558.73

	
0.350000

	  	
1

	
0.000000

	
BEDFORD CORNERS

	
NY


	
289

	
4

	  	
1277599.58

	
21683.00

	
0.240922

	  	
1

	
0.000000

	
SANTA MONICA

	
CA


	
290

	
3

	  	
1666536.95

	
13786.67

	
0.441484

	  	
1

	
100.000000

	
PLEASANTON

	
CA


	
291

	
3

	  	
9109740.00

	
10470.25

	
0.360000

	  	
1

	
0.000000

	
GLEN ELLEN

	
CA


	
292

	
3

	  	
1991045.01

	
10075.22

	
0.200000

	  	
1

	
0.000000

	
NEW YORK

	
NY


	
293

	
3

	  	
3695154.41

	
14880.90

	
0.064234

	  	
1

	
0.000000

	
LOS ALTOS HILLS

	
CA


	
294

	
3

	  	
1355981.39

	
8081.03

	
0.294649

	  	
1

	
0.000000

	
NEWPORT BEACH

	
CA


	
295

	
3

	  	
3498914.00

	
9660.33

	
0.250000

	  	
1

	
0.000000

	
NEW YORK

	
NY


	
296

	
3

	  	
3018687.00

	
6096.75

	
0.167162

	  	
1

	
0.000000

	
TOPANGA AREA

	
CA


	
297

	
4

	  	
1358267.00

	  	
0.435866

	  	
1

	
0.000000

	
BOCA GRANDE

	
FL


	
298

	
4

	  	
337773.60

	
11143.96

	
0.322600

	  	
1

	
100.000000

	
QUINCY

	
WA


	
299

	
4

	  	
128338.77

	
5158.04

	
0.360200

	  	
1

	
0.000000

	
GIG HARBOR

	
WA


	
300

	
4

	  	
183970.91

	
6495.39

	
0.123100

	  	
1

	
0.000000

	
LOOKOUT MOUNTAIN

	
TN


	
301

	
4

	  	
836387.01

	
10488.71

	
0.343400

	  	
1

	
0.000000

	
ANN ARBOR

	
MI


	
302

	
3

	  	
1850455.34

	
8485.19

	
0.367800

	  	
1

	
0.000000

	
ORLEANS

	
MA













	  	
121

	
122

	
123

	
124

	
125

	
126

	
127

	
128

	
129

	
130


	
KEY

	
Postal Code

	
Property Type

	
Occupancy

	
Sales Price

	
Original Appraised


Property Value

	
Original Property


Valuation Type

	
Original Property


Valuation Date

	
Original Automated


Valuation Model


(AVM) Model Name

	
Original AVM


Confidence Score

	
Most Recent


Property Value2


	
1

	
29036

	
7

	
1

	  	
1150000.00

	
3

	
20100614

	  	  	  
	
2

	
80134

	
7

	
1

	  	
2700000.00

	
3

	
20100722

	  	  	  
	
3

	
98023

	
1

	
1

	  	
900000.00

	
3

	
20100622

	  	  	  
	
4

	
97045

	
1

	
1

	  	
875000.00

	
3

	
20100716

	  	  	  
	
5

	
92253

	
7

	
2

	
970000.00

	
1000000.00

	
3

	
20100709

	  	  	  
	
6

	
48104

	
1

	
1

	  	
1050000.00

	
3

	
20100803

	  	  	  
	
7

	
98199

	
1

	
1

	  	
1475000.00

	
3

	
20100726

	  	  	  
	
8

	
97110

	
1

	
2

	  	
2000000.00

	
3

	
20100721

	  	  	  
	
9

	
98072

	
1

	
1

	  	
1760000.00

	
3

	
20100809

	  	  	  
	
10

	
04105

	
1

	
1

	  	
840000.00

	
3

	
20100803

	  	  	  
	
11

	
44139

	
1

	
1

	  	
820000.00

	
3

	
20100811

	  	  	  
	
12

	
04011

	
7

	
1

	  	
1150000.00

	
3

	
20100810

	  	  	  
	
13

	
98077

	
1

	
1

	  	
1500000.00

	
3

	
20100811

	  	  	  
	
14

	
97210

	
1

	
1

	  	
2800000.00

	
3

	
20100824

	  	  	  
	
15

	
98229

	
1

	
1

	  	
1750000.00

	
3

	
20100819

	  	  	  
	
16

	
98006

	
1

	
1

	  	
1500000.00

	
3

	
20100831

	  	  	  
	
17

	
97068

	
1

	
1

	  	
1700000.00

	
3

	
20100902

	  	  	  
	
18

	
98027

	
1

	
1

	  	
1345000.00

	
3

	
20100901

	  	  	  
	
19

	
98388

	
7

	
1

	  	
1050000.00

	
3

	
20101004

	  	  	  
	
20

	
44233

	
7

	
1

	
1080000.00

	
1080000.00

	
3

	
20100929

	  	  	  
	
21

	
98040

	
1

	
1

	  	
3500000.00

	
3

	
20101004

	  	  	  
	
22

	
80113

	
7

	
1

	  	
980000.00

	
3

	
20101019

	  	  	  
	
23

	
98335

	
1

	
1

	
872000.00

	
890000.00

	
3

	
20101014

	  	  	  
	
24

	
98199

	
1

	
1

	
2120000.00

	
2200000.00

	
3

	
20101021

	  	  	  
	
25

	
98118

	
1

	
1

	  	
1050000.00

	
3

	
20101110

	  	  	  
	
26

	
49653

	
1

	
1

	
1500000.00

	
1500000.00

	
3

	
20101107

	  	  	  
	
27

	
78732

	
7

	
1

	  	
950000.00

	
3

	
20100726

	  	  	  
	
28

	
37774

	
1

	
1

	  	
1375000.00

	
3

	
20100908

	  	  	  
	
29

	
37075

	
1

	
1

	
1200000.00

	
1290000.00

	
3

	
20100929

	  	  	  
	
30

	
38017

	
7

	
1

	  	
950000.00

	
3

	
20101025

	  	  	  
	
31

	
07928

	
1

	
1

	
1093220.00

	
1128000.00

	
3

	
20100816

	  	  	  
	
32

	
34683

	
1

	
1

	
739000.00

	
750000.00

	
3

	
20100729

	  	  	  
	
33

	
81632

	
7

	
1

	  	
1337000.00

	
3

	
20100526

	  	  	  
	
34

	
94539

	
1

	
1

	  	
1270000.00

	
3

	
20100607

	  	  	  
	
35

	
75093

	
7

	
1

	  	
730000.00

	
3

	
20100605

	  	  	  
	
36

	
78734

	
1

	
1

	
675000.00

	
715000.00

	
3

	
20100607

	  	  	  
	
37

	
95864

	
1

	
1

	
1260000.00

	
1260000.00

	
3

	
20100610

	  	  	  
	
38

	
30327

	
1

	
1

	  	
825000.00

	
3

	
20100621

	  	  	  
	
39

	
21146

	
7

	
1

	
950000.00

	
995000.00

	
3

	
20100616

	  	  	  
	
40

	
85284

	
7

	
1

	
599000.00

	
600000.00

	
3

	
20100615

	  	  	  
	
41

	
66224

	
7

	
1

	
1250000.00

	
1280000.00

	
3

	
20100616

	  	  	  
	
42

	
98144

	
1

	
1

	
1060000.00

	
1075000.00

	
3

	
20100614

	  	  	  
	
43

	
95762

	
7

	
1

	
1410000.00

	
1435000.00

	
3

	
20100616

	  	  	  
	
44

	
60540

	
1

	
1

	  	
955000.00

	
3

	
20100413

	  	  	  
	
45

	
98115

	
1

	
1

	
765000.00

	
765000.00

	
3

	
20100929

	  	  	  
	
46

	
21401

	
1

	
1

	  	
970000.00

	
3

	
20100624

	  	  	  
	
47

	
21146

	
1

	
1

	
975000.00

	
985000.00

	
3

	
20100628

	  	  	  
	
48

	
80401

	
7

	
1

	
650000.00

	
686000.00

	
3

	
20100628

	  	  	  
	
49

	
94027

	
1

	
1

	  	
1575000.00

	
3

	
20100702

	  	  	  
	
50

	
33558

	
7

	
1

	
900000.00

	
900000.00

	
3

	
20100630

	  	  	  
	
51

	
92075

	
1

	
1

	  	
1800000.00

	
3

	
20100629

	  	  	  
	
52

	
85377

	
1

	
1

	
1300000.00

	
1300000.00

	
3

	
20100629

	  	  	  
	
53

	
74137

	
7

	
1

	  	
910000.00

	
3

	
20100709

	  	  	  
	
54

	
98004

	
1

	
1

	
2500000.00

	
2500000.00

	
3

	
20100713

	  	  	  
	
55

	
91007

	
1

	
1

	  	
1745000.00

	
3

	
20100707

	  	  	  
	
56

	
46032

	
7

	
1

	
700000.00

	
725000.00

	
3

	
20100713

	  	  	  
	
57

	
48104

	
1

	
1

	  	
700000.00

	
3

	
20100711

	  	  	  
	
58

	
77377

	
1

	
1

	  	
1000000.00

	
3

	
20101006

	  	  	  
	
59

	
01950

	
1

	
1

	
950000.00

	
953000.00

	
3

	
20100720

	  	  	  
	
60

	
92067

	
7

	
1

	
2950000.00

	
2950000.00

	
3

	
20100719

	  	  	  
	
61

	
35243

	
7

	
1

	
743021.00

	
775000.00

	
3

	
20100716

	  	  	  
	
62

	
80121

	
1

	
1

	  	
1085000.00

	
3

	
20100728

	  	  	  
	
63

	
78266

	
7

	
1

	
688000.00

	
695000.00

	
3

	
20100730

	  	  	  
	
64

	
19118

	
1

	
1

	  	
825000.00

	
3

	
20100723

	  	  	  
	
65

	
37205

	
1

	
1

	
915000.00

	
915000.00

	
3

	
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3

	
20090925

	  	  	  
	
249

	
96141

	
3

	
2

	  	
2000000.00

	
3

	
20091027

	  	  	  
	
250

	
90005

	
1

	
1

	
1875000.00

	
1875000.00

	
3

	
20091130

	  	  	  
	
251

	
94947

	
1

	
2

	  	
1000000.00

	
3

	
20100104

	  	  	  
	
252

	
94123

	
1

	
1

	  	
2500000.00

	
3

	
20100105

	  	  	  
	
253

	
94109

	
2

	
2

	
1405000.00

	
1405000.00

	
3

	
20100225

	  	  	  
	
254

	
94109

	
2

	
1

	
3215000.00

	
3215000.00

	
3

	
20100317

	  	  	  
	
255

	
94025

	
1

	
1

	  	
2800000.00

	
3

	
20100513

	  	  	  
	
256

	
06840

	
1

	
1

	
3825000.00

	
3950000.00

	
3

	
20100607

	  	  	  
	
257

	
94121

	
1

	
1

	
3850000.00

	
3850000.00

	
3

	
20100513

	  	  	  
	
258

	
10028

	
4

	
1

	
2500000.00

	
2500000.00

	
3

	
20100601

	  	  	  
	
259

	
10021

	
2

	
1

	
975000.00

	
975000.00

	
3

	
20100625

	  	  	  
	
260

	
95032

	
1

	
1

	  	
2600000.00

	
3

	
20100604

	  	  	  
	
261

	
10128

	
8

	
1

	
3475000.00

	
3475000.00

	
3

	
20100630

	  	  	  
	
262

	
94118

	
1

	
1

	
2950000.00

	
2950000.00

	
3

	
20100621

	  	  	  
	
263

	
92130

	
6

	
1

	  	
2000000.00

	
3

	
20100625

	  	  	  
	
264

	
94022

	
1

	
1

	
1294000.00

	
1294000.00

	
3

	
20100628

	  	  	  
	
265

	
94109

	
2

	
1

	
1260000.00

	
1260000.00

	
3

	
20100614

	  	  	  
	
266

	
94115

	
1

	
1

	  	
9600000.00

	
3

	
20100611

	  	  	  
	
267

	
94941

	
1

	
1

	
2225238.00

	
2240000.00

	
3

	
20100630

	  	  	  
	
268

	
94025

	
6

	
1

	
2250000.00

	
2250000.00

	
3

	
20100420

	  	  	  
	
269

	
92130

	
6

	
1

	  	
2125000.00

	
3

	
20100715

	  	  	  
	
270

	
94611

	
1

	
1

	
5150000.00

	
5150000.00

	
3

	
20100708

	  	  	  
	
271

	
90049

	
1

	
1

	  	
3300000.00

	
3

	
20100722

	  	  	  
	
272

	
06840

	
1

	
1

	
1612500.00

	
1615000.00

	
3

	
20100731

	  	  	  
	
273

	
95949

	
6

	
1

	  	
1025000.00

	
3

	
20100719

	  	  	  
	
274

	
92064

	
1

	
1

	
1717500.00

	
1725000.00

	
3

	
20100726

	  	  	  
	
275

	
94920

	
1

	
1

	  	
2100000.00

	
3

	
20100726

	  	  	  
	
276

	
91423

	
1

	
1

	  	
4500000.00

	
3

	
20100802

	  	  	  
	
277

	
94117

	
3

	
1

	
994000.00

	
1000000.00

	
3

	
20100727

	  	  	  
	
278

	
94025

	
1

	
1

	  	
2850000.00

	
3

	
20100812

	  	  	  
	
279

	
94025

	
1

	
1

	  	
3600000.00

	
3

	
20100802

	  	  	  
	
280

	
90064

	
1

	
1

	
2100000.00

	
2100000.00

	
3

	
20100809

	  	  	  
	
281

	
94116

	
6

	
1

	  	
1650000.00

	
3

	
20100820

	  	  	  
	
282

	
94010

	
1

	
1

	  	
1720000.00

	
3

	
20100825

	  	  	  
	
283

	
10583

	
1

	
1

	
2002000.00

	
2050000.00

	
3

	
20100923

	  	  	  
	
284

	
94027

	
1

	
1

	  	
11500000.00

	
3

	
20100902

	  	  	  
	
285

	
94028

	
1

	
1

	  	
2350000.00

	
3

	
20100823

	  	  	  
	
286

	
01890

	
1

	
1

	  	
1550000.00

	
3

	
20100831

	  	  	  
	
287

	
94549

	
1

	
1

	
1375000.00

	
1375000.00

	
3

	
20100823

	  	  	  
	
288

	
10549

	
1

	
1

	  	
2600000.00

	
3

	
20100923

	  	  	  
	
289

	
90405

	
3

	
2

	  	
1000000.00

	
3

	
20100903

	  	  	  
	
290

	
94566

	
6

	
1

	
1720000.00

	
1750000.00

	
3

	
20100907

	  	  	  
	
291

	
95442

	
1

	
2

	  	
2200000.00

	
3

	
20100907

	  	  	  
	
292

	
10075

	
2

	
1

	  	
2850000.00

	
3

	
20100928

	  	  	  
	
293

	
94022

	
1

	
1

	  	
6750000.00

	
3

	
20100917

	  	  	  
	
294

	
92660

	
6

	
1

	  	
2200000.00

	
3

	
20100922

	  	  	  
	
295

	
10028

	
3

	
1

	  	
2250000.00

	
3

	
20101013

	  	  	  
	
296

	
90290

	
1

	
1

	  	
1500000.00

	
3

	
20101027

	  	  	  
	
297

	
33921

	
7

	
1

	  	
1825000.00

	
3

	
20101105

	  	  	  
	
298

	
98848

	
1

	
1

	
625000.00

	
633000.00

	
3

	
20101207

	  	  	  
	
299

	
98335

	
1

	
1

	  	
1045000.00

	
3

	
20100826

	  	  	  
	
300

	
37350

	
1

	
1

	  	
1400000.00

	
3

	
20100811

	  	  	  
	
301

	
48103

	
1

	
1

	  	
826000.00

	
3

	
20101108

	  	  	  
	
302

	
02653

	
1

	
2

	  	
960000.00

	
3

	
20101117

	  	  	  











	  	
131

	
132

	
133

	
134

	
135

	
136

	
137

	
138

	
139

	
140


	
KEY

	
Most Recent


Property Valuation


Type

	
Most Recent


Property Valuation


Date

	
Most Recent AVM


Model Name

	
Most Recent AVM


Confidence Score

	
Original CLTV

	
Original LTV

	
Original Pledged


Assets

	
Mortgage Insurance


Company Name

	
Mortgage Insurance


Percent

	
MI: Lender or


Borrower Paid?


	
1

	  	  	  	  	
0.764540

	
0.764540

	
0

	
0

	
0

	  
	
2

	  	  	  	  	
0.648100

	
0.602590

	
0

	
0

	
0

	  
	
3

	  	  	  	  	
0.737780

	
0.737780

	
0

	
0

	
0

	  
	
4

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
5

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
6

	  	  	  	  	
0.790480

	
0.790480

	
0

	
0

	
0

	  
	
7

	  	  	  	  	
0.799930

	
0.637210

	
0

	
0

	
0

	  
	
8

	  	  	  	  	
0.633750

	
0.633750

	
0

	
0

	
0

	  
	
9

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
10

	  	  	  	  	
0.664390

	
0.664390

	
0

	
0

	
0

	  
	
11

	  	  	  	  	
0.788720

	
0.715550

	
0

	
0

	
0

	  
	
12

	  	  	  	  	
0.696430

	
0.696430

	
0

	
0

	
0

	  
	
13

	  	  	  	  	
0.530000

	
0.530000

	
0

	
0

	
0

	  
	
14

	  	  	  	  	
0.521360

	
0.521360

	
0

	
0

	
0

	  
	
15

	  	  	  	  	
0.401310

	
0.401310

	
0

	
0

	
0

	  
	
16

	  	  	  	  	
0.750000

	
0.416670

	
0

	
0

	
0

	  
	
17

	  	  	  	  	
0.800000

	
0.550000

	
0

	
0

	
0

	  
	
18

	  	  	  	  	
0.672790

	
0.672790

	
0

	
0

	
0

	  
	
19

	  	  	  	  	
0.691430

	
0.691430

	
0

	
0

	
0

	  
	
20

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
21

	  	  	  	  	
0.464290

	
0.342860

	
0

	
0

	
0

	  
	
22

	  	  	  	  	
0.689290

	
0.556630

	
0

	
0

	
0

	  
	
23

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
24

	  	  	  	  	
0.542450

	
0.542450

	
0

	
0

	
0

	  
	
25

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
26

	  	  	  	  	
0.800000

	
0.666670

	
0

	
0

	
0

	  
	
27

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
28

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
29

	  	  	  	  	
0.750000

	
0.666670

	
0

	
0

	
0

	  
	
30

	  	  	  	  	
0.649470

	
0.649470

	
0

	
0

	
0

	  
	
31

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
32

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
33

	  	  	  	  	
0.747940

	
0.747940

	
0

	
0

	
0

	  
	
34

	  	  	  	  	
0.730420

	
0.595900

	
0

	
0

	
0

	  
	
35

	  	  	  	  	
0.727120

	
0.727120

	
0

	
0

	
0

	  
	
36

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
37

	  	  	  	  	
0.793650

	
0.793650

	
0

	
0

	
0

	  
	
38

	  	  	  	  	
0.770110

	
0.770110

	
0

	
0

	
0

	  
	
39

	  	  	  	  	
0.678950

	
0.678950

	
0

	
0

	
0

	  
	
40

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
41

	  	  	  	  	
0.660000

	
0.660000

	
0

	
0

	
0

	  
	
42

	  	  	  	  	
0.636790

	
0.636790

	
0

	
0

	
0

	  
	
43

	  	  	  	  	
0.680850

	
0.680850

	
0

	
0

	
0

	  
	
44

	  	  	  	  	
0.798325

	
0.798325

	
0

	
0

	
0

	  
	
45

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
46

	  	  	  	  	
0.723710

	
0.723710

	
0

	
0

	
0

	  
	
47

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
48

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
49

	  	  	  	  	
0.799479

	
0.628690

	
0

	
0

	
0

	  
	
50

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
51

	  	  	  	  	
0.800000

	
0.530000

	
0

	
0

	
0

	  
	
52

	  	  	  	  	
0.461540

	
0.461540

	
0

	
0

	
0

	  
	
53

	  	  	  	  	
0.774250

	
0.774250

	
0

	
0

	
0

	  
	
54

	  	  	  	  	
0.550000

	
0.550000

	
0

	
0

	
0

	  
	
55

	  	  	  	  	
0.744990

	
0.744990

	
0

	
0

	
0

	  
	
56

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
57

	  	  	  	  	
0.706710

	
0.706710

	
0

	
0

	
0

	  
	
58

	  	  	  	  	
0.600000

	
0.600000

	
0

	
0

	
0

	  
	
59

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
60

	  	  	  	  	
0.322030

	
0.322030

	
0

	
0

	
0

	  
	
61

	  	  	  	  	
0.740200

	
0.740200

	
0

	
0

	
0

	  
	
62

	  	  	  	  	
0.735900

	
0.735900

	
0

	
0

	
0

	  
	
63

	  	  	  	  	
0.782000

	
0.782000

	
0

	
0

	
0

	  
	
64

	  	  	  	  	
0.727270

	
0.727270

	
0

	
0

	
0

	  
	
65

	  	  	  	  	
0.612020

	
0.612020

	
0

	
0

	
0

	  
	
66

	  	  	  	  	
0.450700

	
0.450700

	
0

	
0

	
0

	  
	
67

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
68

	  	  	  	  	
0.624050

	
0.624050

	
0

	
0

	
0

	  
	
69

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
70

	  	  	  	  	
0.582960

	
0.582960

	
0

	
0

	
0

	  
	
71

	  	  	  	  	
0.800000

	
0.739130

	
0

	
0

	
0

	  
	
72

	  	  	  	  	
0.510530

	
0.412490

	
0

	
0

	
0

	  
	
73

	  	  	  	  	
0.614300

	
0.614300

	
0

	
0

	
0

	  
	
74

	  	  	  	  	
0.501500

	
0.501500

	
0

	
0

	
0

	  
	
75

	  	  	  	  	
0.663600

	
0.663600

	
0

	
0

	
0

	  
	
76

	  	  	  	  	
0.597900

	
0.597900

	
0

	
0

	
0

	  
	
77

	  	  	  	  	
0.649350

	
0.649350

	
0

	
0

	
0

	  
	
78

	  	  	  	  	
0.794900

	
0.794900

	
0

	
0

	
0

	  
	
79

	  	  	  	  	
0.789900

	
0.789900

	
0

	
0

	
0

	  
	
80

	  	  	  	  	
0.648590

	
0.648590

	
0

	
0

	
0

	  
	
81

	  	  	  	  	
0.735700

	
0.664000

	
0

	
0

	
0

	  
	
82

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
83

	  	  	  	  	
0.719630

	
0.719630

	
0

	
0

	
0

	  
	
84

	  	  	  	  	
0.721800

	
0.721800

	
0

	
0

	
0

	  
	
85

	  	  	  	  	
0.748970

	
0.748970

	
0

	
0

	
0

	  
	
86

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
87

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
88

	  	  	  	  	
0.684690

	
0.684690

	
0

	
0

	
0

	  
	
89

	  	  	  	  	
0.711400

	
0.711400

	
0

	
0

	
0

	  
	
90

	  	  	  	  	
0.683600

	
0.683600

	
0

	
0

	
0

	  
	
91

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
92

	  	  	  	  	
0.714440

	
0.646640

	
0

	
0

	
0

	  
	
93

	  	  	  	  	
0.776200

	
0.776200

	
0

	
0

	
0

	  
	
94

	  	  	  	  	
0.784300

	
0.784300

	
0

	
0

	
0

	  
	
95

	  	  	  	  	
0.650000

	
0.650000

	
0

	
0

	
0

	  
	
96

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
97

	  	  	  	  	
0.673300

	
0.673300

	
0

	
0

	
0

	  
	
98

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
99

	  	  	  	  	
0.422710

	
0.422710

	
0

	
0

	
0

	  
	
100

	  	  	  	  	
0.512780

	
0.512780

	
0

	
0

	
0

	  
	
101

	  	  	  	  	
0.517600

	
0.517600

	
0

	
0

	
0

	  
	
102

	  	  	  	  	
0.740920

	
0.625540

	
0

	
0

	
0

	  
	
103

	  	  	  	  	
0.781300

	
0.781300

	
0

	
0

	
0

	  
	
104

	  	  	  	  	
0.619090

	
0.619090

	
0

	
0

	
0

	  
	
105

	  	  	  	  	
0.689660

	
0.689660

	
0

	
0

	
0

	  
	
106

	  	  	  	  	
0.175440

	
0.157890

	
0

	
0

	
0

	  
	
107

	  	  	  	  	
0.775170

	
0.670340

	
0

	
0

	
0

	  
	
108

	  	  	  	  	
0.749517

	
0.668320

	
0

	
0

	
0

	  
	
109

	  	  	  	  	
0.521740

	
0.521740

	
0

	
0

	
0

	  
	
110

	  	  	  	  	
0.500000

	
0.500000

	
0

	
0

	
0

	  
	
111

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
112

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
113

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
114

	  	  	  	  	
0.556590

	
0.556590

	
0

	
0

	
0

	  
	
115

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
116

	  	  	  	  	
0.499550

	
0.499550

	
0

	
0

	
0

	  
	
117

	  	  	  	  	
0.727300

	
0.727300

	
0

	
0

	
0

	  
	
118

	  	  	  	  	
0.560770

	
0.560770

	
0

	
0

	
0

	  
	
119

	  	  	  	  	
0.696190

	
0.696190

	
0

	
0

	
0

	  
	
120

	  	  	  	  	
0.756550

	
0.756550

	
0

	
0

	
0

	  
	
121

	  	  	  	  	
0.545750

	
0.504080

	
0

	
0

	
0

	  
	
122

	  	  	  	  	
0.530120

	
0.530120

	
0

	
0

	
0

	  
	
123

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
124

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
125

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
126

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
127

	  	  	  	  	
0.558960

	
0.357330

	
0

	
0

	
0

	  
	
128

	  	  	  	  	
0.609680

	
0.448390

	
0

	
0

	
0

	  
	
129

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
130

	  	  	  	  	
0.592610

	
0.592610

	
0

	
0

	
0

	  
	
131

	  	  	  	  	
0.532690

	
0.427310

	
0

	
0

	
0

	  
	
132

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
133

	  	  	  	  	
0.500000

	
0.500000

	
0

	
0

	
0

	  
	
134

	  	  	  	  	
0.796040

	
0.796040

	
0

	
0

	
0

	  
	
135

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
136

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
137

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
138

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
139

	  	  	  	  	
0.666670

	
0.666670

	
0

	
0

	
0

	  
	
140

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
141

	  	  	  	  	
0.750000

	
0.670590

	
0

	
0

	
0

	  
	
142

	  	  	  	  	
0.700000

	
0.550000

	
0

	
0

	
0

	  
	
143

	  	  	  	  	
0.625000

	
0.160710

	
0

	
0

	
0

	  
	
144

	  	  	  	  	
0.771930

	
0.701750

	
0

	
0

	
0

	  
	
145

	  	  	  	  	
0.579270

	
0.579270

	
0

	
0

	
0

	  
	
146

	  	  	  	  	
0.700000

	
0.533330

	
0

	
0

	
0

	  
	
147

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
148

	  	  	  	  	
0.614100

	
0.614100

	
0

	
0

	
0

	  
	
149

	  	  	  	  	
0.692310

	
0.538460

	
0

	
0

	
0

	  
	
150

	  	  	  	  	
0.750000

	
0.556960

	
0

	
0

	
0

	  
	
151

	  	  	  	  	
0.733060

	
0.733060

	
0

	
0

	
0

	  
	
152

	  	  	  	  	
0.332000

	
0.182000

	
0

	
0

	
0

	  
	
153

	  	  	  	  	
0.657630

	
0.657630

	
0

	
0

	
0

	  
	
154

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
155

	  	  	  	  	
0.596030

	
0.596030

	
0

	
0

	
0

	  
	
156

	  	  	  	  	
0.698630

	
0.698630

	
0

	
0

	
0

	  
	
157

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
158

	  	  	  	  	
0.550000

	
0.550000

	
0

	
0

	
0

	  
	
159

	  	  	  	  	
0.608110

	
0.405410

	
0

	
0

	
0

	  
	
160

	  	  	  	  	
0.666670

	
0.476190

	
0

	
0

	
0

	  
	
161

	  	  	  	  	
0.547170

	
0.415090

	
0

	
0

	
0

	  
	
162

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
163

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
164

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
165

	  	  	  	  	
0.622220

	
0.622220

	
0

	
0

	
0

	  
	
166

	  	  	  	  	
0.699830

	
0.699830

	
0

	
0

	
0

	  
	
167

	  	  	  	  	
0.700000

	
0.375000

	
0

	
0

	
0

	  
	
168

	  	  	  	  	
0.600000

	
0.471430

	
0

	
0

	
0

	  
	
169

	  	  	  	  	
0.592210

	
0.540260

	
0

	
0

	
0

	  
	
170

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
171

	  	  	  	  	
0.700000

	
0.541460

	
0

	
0

	
0

	  
	
172

	  	  	  	  	
0.400000

	
0.360000

	
0

	
0

	
0

	  
	
173

	  	  	  	  	
0.739130

	
0.739130

	
0

	
0

	
0

	  
	
174

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
175

	  	  	  	  	
0.532080

	
0.532080

	
0

	
0

	
0

	  
	
176

	  	  	  	  	
0.600000

	
0.540540

	
0

	
0

	
0

	  
	
177

	  	  	  	  	
0.631680

	
0.526270

	
0

	
0

	
0

	  
	
178

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
179

	  	  	  	  	
0.250000

	
0.250000

	
0

	
0

	
0

	  
	
180

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
181

	  	  	  	  	
0.427780

	
0.427780

	
0

	
0

	
0

	  
	
182

	  	  	  	  	
0.636360

	
0.590910

	
0

	
0

	
0

	  
	
183

	  	  	  	  	
0.522220

	
0.522220

	
0

	
0

	
0

	  
	
184

	  	  	  	  	
0.631820

	
0.631820

	
0

	
0

	
0

	  
	
185

	  	  	  	  	
0.597130

	
0.597130

	
0

	
0

	
0

	  
	
186

	  	  	  	  	
0.396360

	
0.360000

	
0

	
0

	
0

	  
	
187

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
188

	
7

	
20110101

	  	  	
0.673170

	
0.480770

	
0

	
0

	
0

	  
	
189

	
5

	
20110101

	  	  	
0.483300

	
0.483300

	
0

	
0

	
0

	  
	
190

	
5

	
20110101

	  	  	
0.500000

	
0.500000

	
0

	
0

	
0

	  
	
191

	
7

	
20110101

	  	  	
0.752900

	
0.752900

	
0

	
0

	
0

	  
	
192

	
7

	
20110101

	  	  	
0.588200

	
0.588200

	
0

	
0

	
0

	  
	
193

	
7

	
20110101

	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
194

	
7

	
20110101

	  	  	
0.571490

	
0.476190

	
0

	
0

	
0

	  
	
195

	
5

	
20110101

	  	  	
0.661580

	
0.423080

	
0

	
0

	
0

	  
	
196

	
9

	
20110101

	  	  	
0.687500

	
0.687500

	
0

	
0

	
0

	  
	
197

	
7

	
20110101

	  	  	
0.367500

	
0.367500

	
0

	
0

	
0

	  
	
198

	
9

	
20110101

	  	  	
0.506490

	
0.506490

	
0

	
0

	
0

	  
	
199

	
5

	
20110101

	  	  	
0.388960

	
0.305560

	
0

	
0

	
0

	  
	
200

	
7

	
20110101

	  	  	
0.410526

	
0.410526

	
0

	
0

	
0

	  
	
201

	
7

	
20110101

	  	  	
0.547619

	
0.547619

	
0

	
0

	
0

	  
	
202

	
9

	
20110101

	  	  	
0.235294

	
0.235294

	
0

	
0

	
0

	  
	
203

	
7

	
20110101

	  	  	
0.441300

	
0.441300

	
0

	
0

	
0

	  
	
204

	
7

	
20110101

	  	  	
0.613090

	
0.613090

	
0

	
0

	
0

	  
	
205

	
5

	
20110101

	  	  	
0.401960

	
0.401960

	
0

	
0

	
0

	  
	
206

	
5

	
20110101

	  	  	
0.569600

	
0.443000

	
0

	
0

	
0

	  
	
207

	
5

	
20110101

	  	  	
0.500000

	
0.500000

	
0

	
0

	
0

	  
	
208

	
7

	
20110101

	  	  	
0.675000

	
0.675000

	
0

	
0

	
0

	  
	
209

	
5

	
20110101

	  	  	
0.567568

	
0.567568

	
0

	
0

	
0

	  
	
210

	
7

	
20110101

	  	  	
0.699750

	
0.699750

	
0

	
0

	
0

	  
	
211

	
9

	
20110101

	  	  	
0.679310

	
0.679310

	
0

	
0

	
0

	  
	
212

	
7

	
20110101

	  	  	
0.520833

	
0.416700

	
0

	
0

	
0

	  
	
213

	
7

	
20110101

	  	  	
0.510000

	
0.372000

	
0

	
0

	
0

	  
	
214

	
9

	
20110101

	  	  	
0.242100

	
0.242100

	
0

	
0

	
0

	  
	
215

	
7

	
20110101

	  	  	
0.600000

	
0.480000

	
0

	
0

	
0

	  
	
216

	
5

	
20110101

	  	  	
0.565000

	
0.315000

	
0

	
0

	
0

	  
	
217

	
5

	
20110101

	  	  	
0.686200

	
0.686200

	
0

	
0

	
0

	  
	
218

	
7

	
20110101

	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
219

	
3

	
20110216

	  	  	
0.667860

	
0.667860

	
0

	
0

	
0

	  
	
220

	
7

	
20110101

	  	  	
0.758600

	
0.689655

	
0

	
0

	
0

	  
	
221

	
5

	
20110101

	  	  	
0.440000

	
0.400000

	
0

	
0

	
0

	  
	
222

	
7

	
20110101

	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
223

	
7

	
20110101

	  	  	
0.579700

	
0.579700

	
0

	
0

	
0

	  
	
224

	
9

	
20110101

	  	  	
0.600000

	
0.347360

	
0

	
0

	
0

	  
	
225

	
5

	
20110101

	  	  	
0.492860

	
0.492860

	
0

	
0

	
0

	  
	
226

	
9

	
20110101

	  	  	
0.471200

	
0.471200

	
0

	
0

	
0

	  
	
227

	
7

	
20110101

	  	  	
0.749470

	
0.749470

	
0

	
0

	
0

	  
	
228

	
7

	
20110101

	  	  	
0.795600

	
0.722628

	
0

	
0

	
0

	  
	
229

	
5

	
20110101

	  	  	
0.441200

	
0.352900

	
0

	
0

	
0

	  
	
230

	
7

	
20110101

	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
231

	
9

	
20110101

	  	  	
0.700000

	
0.500800

	
0

	
0

	
0

	  
	
232

	
9

	
20110101

	  	  	
0.563890

	
0.563890

	
0

	
0

	
0

	  
	
233

	
7

	
20110101

	  	  	
0.689660

	
0.689660

	
0

	
0

	
0

	  
	
234

	
9

	
20110101

	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
235

	
9

	
20110101

	  	  	
0.172000

	
0.145300

	
0

	
0

	
0

	  
	
236

	
5

	
20110101

	  	  	
0.758660

	
0.689660

	
0

	
0

	
0

	  
	
237

	
7

	
20110101

	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
238

	
5

	
20110101

	  	  	
0.272400

	
0.201000

	
0

	
0

	
0

	  
	
239

	
3

	
20110101

	  	  	
0.571430

	
0.190476

	
0

	
0

	
0

	  
	
240

	
9

	
20110101

	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
241

	
5

	
20110101

	  	  	
0.449780

	
0.449780

	
0

	
0

	
0

	  
	
242

	
5

	
20110101

	  	  	
0.473680

	
0.473680

	
0

	
0

	
0

	  
	
243

	
7

	
20110101

	  	  	
0.511600

	
0.465100

	
0

	
0

	
0

	  
	
244

	
7

	
20110101

	  	  	
0.573770

	
0.573770

	
0

	
0

	
0

	  
	
245

	
7

	
20110101

	  	  	
0.733370

	
0.666670

	
0

	
0

	
0

	  
	
246

	
9

	
20110101

	  	  	
0.599200

	
0.548380

	
0

	
0

	
0

	  
	
247

	
5

	
20110101

	  	  	
0.460833

	
0.421880

	
0

	
0

	
0

	  
	
248

	  	  	  	  	
0.144680

	
0.144680

	
0

	
0

	
0

	  
	
249

	  	  	  	  	
0.225000

	
0.225000

	
0

	
0

	
0

	  
	
250

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
251

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
252

	  	  	  	  	
0.460000

	
0.340000

	
0

	
0

	
0

	  
	
253

	  	  	  	  	
0.516014

	
0.516014

	
0

	
0

	
0

	  
	
254

	  	  	  	  	
0.342100

	
0.342100

	
0

	
0

	
0

	  
	
255

	  	  	  	  	
0.371400

	
0.300000

	
0

	
0

	
0

	  
	
256

	  	  	  	  	
0.481050

	
0.481050

	
0

	
0

	
0

	  
	
257

	  	  	  	  	
0.649350

	
0.519480

	
0

	
0

	
0

	  
	
258

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
259

	  	  	  	  	
0.748460

	
0.748460

	
0

	
0

	
0

	  
	
260

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
261

	  	  	  	  	
0.575540

	
0.575540

	
0

	
0

	
0

	  
	
262

	  	  	  	  	
0.700000

	
0.508470

	
0

	
0

	
0

	  
	
263

	  	  	  	  	
0.700000

	
0.660000

	
0

	
0

	
0

	  
	
264

	  	  	  	  	
0.800000

	
0.800000

	
0

	
0

	
0

	  
	
265

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
266

	  	  	  	  	
0.364580

	
0.208330

	
0

	
0

	
0

	  
	
267

	  	  	  	  	
0.674090

	
0.449390

	
0

	
0

	
0

	  
	
268

	  	  	  	  	
0.644440

	
0.644440

	
0

	
0

	
0

	  
	
269

	  	  	  	  	
0.470590

	
0.470590

	
0

	
0

	
0

	  
	
270

	  	  	  	  	
0.291260

	
0.291260

	
0

	
0

	
0

	  
	
271

	  	  	  	  	
0.666670

	
0.606060

	
0

	
0

	
0

	  
	
272

	  	  	  	  	
0.744186

	
0.744186

	
0

	
0

	
0

	  
	
273

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
274

	  	  	  	  	
0.799770

	
0.582240

	
0

	
0

	
0

	  
	
275

	  	  	  	  	
0.688100

	
0.688100

	
0

	
0

	
0

	  
	
276

	  	  	  	  	
0.222220

	
0.222220

	
0

	
0

	
0

	  
	
277

	  	  	  	  	
0.703220

	
0.703220

	
0

	
0

	
0

	  
	
278

	  	  	  	  	
0.438600

	
0.438600

	
0

	
0

	
0

	  
	
279

	  	  	  	  	
0.650000

	
0.555555

	
0

	
0

	
0

	  
	
280

	  	  	  	  	
0.700000

	
0.700000

	
0

	
0

	
0

	  
	
281

	  	  	  	  	
0.666670

	
0.606060

	
0

	
0

	
0

	  
	
282

	  	  	  	  	
0.655690

	
0.655690

	
0

	
0

	
0

	  
	
283

	  	  	  	  	
0.549450

	
0.549450

	
0

	
0

	
0

	  
	
284

	  	  	  	  	
0.328800

	
0.171570

	
0

	
0

	
0

	  
	
285

	  	  	  	  	
0.574470

	
0.574470

	
0

	
0

	
0

	  
	
286

	  	  	  	  	
0.516130

	
0.451610

	
0

	
0

	
0

	  
	
287

	  	  	  	  	
0.654550

	
0.436360

	
0

	
0

	
0

	  
	
288

	  	  	  	  	
0.580769

	
0.407690

	
0

	
0

	
0

	  
	
289

	  	  	  	  	
0.600000

	
0.600000

	
0

	
0

	
0

	  
	
290

	  	  	  	  	
0.800000

	
0.581400

	
0

	
0

	
0

	  
	
291

	  	  	  	  	
0.454500

	
0.454500

	
0

	
0

	
0

	  
	
292

	  	  	  	  	
0.333330

	
0.333330

	
0

	
0

	
0

	  
	
293

	  	  	  	  	
0.148148

	
0.148148

	
0

	
0

	
0

	  
	
294

	  	  	  	  	
0.500000

	
0.500000

	
0

	
0

	
0

	  
	
295

	  	  	  	  	
0.684444

	
0.684444

	
0

	
0

	
0

	  
	
296

	  	  	  	  	
0.733333

	
0.733333

	
0

	
0

	
0

	  
	
297

	  	  	  	  	
0.598900

	
0.598900

	
0

	
0

	
0

	  
	
298

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
299

	  	  	  	  	
0.749950

	
0.693970

	
0

	
0

	
0

	  
	
300

	  	  	  	  	
0.799900

	
0.511330

	
0

	
0

	
0

	  
	
301

	  	  	  	  	
0.750000

	
0.750000

	
0

	
0

	
0

	  
	
302

	  	  	  	  	
0.622990

	
0.622990

	
0

	
0

	
0

	  








	  	
141

	
142

	
143

	
144

	
145

	
146

	
147

	
148

	
149

	
150


	
KEY

	
Pool Insurance Co.


Name

	
Pool Insurance Stop


Loss %

	
MI Certificate


Number

	
Updated DTI


(Front-end)

	
Updated DTI


(Back-end)

	
Modification


Effective Payment


Date

	
Total Capitalized


Amount

	
Total Deferred


Amount

	
Pre-Modification


Interest (Note) Rate

	
Pre-Modification P&I


Payment


	
1

	  	  	  	  	  	  	  	  	  	  
	
2

	  	  	  	  	  	  	  	  	  	  
	
3

	  	  	  	  	  	  	  	  	  	  
	
4

	  	  	  	  	  	  	  	  	  	  
	
5

	  	  	  	  	  	  	  	  	  	  
	
6

	  	  	  	  	  	  	  	  	  	  
	
7

	  	  	  	  	  	  	  	  	  	  
	
8

	  	  	  	  	  	  	  	  	  	  
	
9

	  	  	  	  	  	  	  	  	  	  
	
10

	  	  	  	  	  	  	  	  	  	  
	
11

	  	  	  	  	  	  	  	  	  	  
	
12

	  	  	  	  	  	  	  	  	  	  
	
13

	  	  	  	  	  	  	  	  	  	  
	
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15

	  	  	  	  	  	  	  	  	  	  
	
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18

	  	  	  	  	  	  	  	  	  	  
	
19

	  	  	  	  	  	  	  	  	  	  
	
20

	  	  	  	  	  	  	  	  	  	  
	
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22

	  	  	  	  	  	  	  	  	  	  
	
23

	  	  	  	  	  	  	  	  	  	  
	
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33

	  	  	  	  	  	  	  	  	  	  
	
34

	  	  	  	  	  	  	  	  	  	  
	
35

	  	  	  	  	  	  	  	  	  	  
	
36

	  	  	  	  	  	  	  	  	  	  
	
37

	  	  	  	  	  	  	  	  	  	  
	
38

	  	  	  	  	  	  	  	  	  	  
	
39

	  	  	  	  	  	  	  	  	  	  
	
40

	  	  	  	  	  	  	  	  	  	  
	
41

	  	  	  	  	  	  	  	  	  	  
	
42

	  	  	  	  	  	  	  	  	  	  
	
43

	  	  	  	  	  	  	  	  	  	  
	
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45

	  	  	  	  	  	  	  	  	  	  
	
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48

	  	  	  	  	  	  	  	  	  	  
	
49

	  	  	  	  	  	  	  	  	  	  
	
50

	  	  	  	  	  	  	  	  	  	  
	
51

	  	  	  	  	  	  	  	  	  	  
	
52

	  	  	  	  	  	  	  	  	  	  
	
53

	  	  	  	  	  	  	  	  	  	  
	
54

	  	  	  	  	  	  	  	  	  	  
	
55

	  	  	  	  	  	  	  	  	  	  
	
56

	  	  	  	  	  	  	  	  	  	  
	
57

	  	  	  	  	  	  	  	  	  	  
	
58

	  	  	  	  	  	  	  	  	  	  
	
59

	  	  	  	  	  	  	  	  	  	  
	
60

	  	  	  	  	  	  	  	  	  	  
	
61

	  	  	  	  	  	  	  	  	  	  
	
62

	  	  	  	  	  	  	  	  	  	  
	
63

	  	  	  	  	  	  	  	  	  	  
	
64

	  	  	  	  	  	  	  	  	  	  
	
65

	  	  	  	  	  	  	  	  	  	  
	
66

	  	  	  	  	  	  	  	  	  	  
	
67

	  	  	  	  	  	  	  	  	  	  
	
68

	  	  	  	  	  	  	  	  	  	  
	
69

	  	  	  	  	  	  	  	  	  	  
	
70

	  	  	  	  	  	  	  	  	  	  
	
71

	  	  	  	  	  	  	  	  	  	  
	
72

	  	  	  	  	  	  	  	  	  	  
	
73

	  	  	  	  	  	  	  	  	  	  
	
74

	  	  	  	  	  	  	  	  	  	  
	
75

	  	  	  	  	  	  	  	  	  	  
	
76

	  	  	  	  	  	  	  	  	  	  
	
77

	  	  	  	  	  	  	  	  	  	  
	
78

	  	  	  	  	  	  	  	  	  	  
	
79

	  	  	  	  	  	  	  	  	  	  
	
80

	  	  	  	  	  	  	  	  	  	  
	
81

	  	  	  	  	  	  	  	  	  	  
	
82

	  	  	  	  	  	  	  	  	  	  
	
83

	  	  	  	  	  	  	  	  	  	  
	
84

	  	  	  	  	  	  	  	  	  	  
	
85

	  	  	  	  	  	  	  	  	  	  
	
86

	  	  	  	  	  	  	  	  	  	  
	
87

	  	  	  	  	  	  	  	  	  	  
	
88

	  	  	  	  	  	  	  	  	  	  
	
89

	  	  	  	  	  	  	  	  	  	  
	
90

	  	  	  	  	  	  	  	  	  	  
	
91

	  	  	  	  	  	  	  	  	  	  
	
92

	  	  	  	  	  	  	  	  	  	  
	
93

	  	  	  	  	  	  	  	  	  	  
	
94

	  	  	  	  	  	  	  	  	  	  
	
95

	  	  	  	  	  	  	  	  	  	  
	
96

	  	  	  	  	  	  	  	  	  	  
	
97

	  	  	  	  	  	  	  	  	  	  
	
98

	  	  	  	  	  	  	  	  	  	  
	
99

	  	  	  	  	  	  	  	  	  	  
	
100

	  	  	  	  	  	  	  	  	  	  
	
101

	  	  	  	  	  	  	  	  	  	  
	
102

	  	  	  	  	  	  	  	  	  	  
	
103

	  	  	  	  	  	  	  	  	  	  
	
104

	  	  	  	  	  	  	  	  	  	  
	
105

	  	  	  	  	  	  	  	  	  	  
	
106

	  	  	  	  	  	  	  	  	  	  
	
107

	  	  	  	  	  	  	  	  	  	  
	
108

	  	  	  	  	  	  	  	  	  	  
	
109

	  	  	  	  	  	  	  	  	  	  
	
110

	  	  	  	  	  	  	  	  	  	  
	
111

	  	  	  	  	  	  	  	  	  	  
	
112

	  	  	  	  	  	  	  	  	  	  
	
113

	  	  	  	  	  	  	  	  	  	  
	
114

	  	  	  	  	  	  	  	  	  	  
	
115

	  	  	  	  	  	  	  	  	  	  
	
116

	  	  	  	  	  	  	  	  	  	  
	
117

	  	  	  	  	  	  	  	  	  	  
	
118

	  	  	  	  	  	  	  	  	  	  
	
119

	  	  	  	  	  	  	  	  	  	  
	
120

	  	  	  	  	  	  	  	  	  	  
	
121

	  	  	  	  	  	  	  	  	  	  
	
122

	  	  	  	  	  	  	  	  	  	  
	
123

	  	  	  	  	  	  	  	  	  	  
	
124

	  	  	  	  	  	  	  	  	  	  
	
125

	  	  	  	  	  	  	  	  	  	  
	
126

	  	  	  	  	  	  	  	  	  	  
	
127

	  	  	  	  	  	  	  	  	  	  
	
128

	  	  	  	  	  	  	  	  	  	  
	
129

	  	  	  	  	  	  	  	  	  	  
	
130

	  	  	  	  	  	  	  	  	  	  
	
131

	  	  	  	  	  	  	  	  	  	  
	
132

	  	  	  	  	  	  	  	  	  	  
	
133

	  	  	  	  	  	  	  	  	  	  
	
134

	  	  	  	  	  	  	  	  	  	  
	
135

	  	  	  	  	  	  	  	  	  	  
	
136

	  	  	  	  	  	  	  	  	  	  
	
137

	  	  	  	  	  	  	  	  	  	  
	
138

	  	  	  	  	  	  	  	  	  	  
	
139

	  	  	  	  	  	  	  	  	  	  
	
140

	  	  	  	  	  	  	  	  	  	  
	
141

	  	  	  	  	  	  	  	  	  	  
	
142

	  	  	  	  	  	  	  	  	  	  
	
143

	  	  	  	  	  	  	  	  	  	  
	
144

	  	  	  	  	  	  	  	  	  	  
	
145

	  	  	  	  	  	  	  	  	  	  
	
146

	  	  	  	  	  	  	  	  	  	  
	
147

	  	  	  	  	  	  	  	  	  	  
	
148

	  	  	  	  	  	  	  	  	  	  
	
149

	  	  	  	  	  	  	  	  	  	  
	
150

	  	  	  	  	  	  	  	  	  	  
	
151

	  	  	  	  	  	  	  	  	  	  
	
152

	  	  	  	  	  	  	  	  	  	  
	
153

	  	  	  	  	  	  	  	  	  	  
	
154

	  	  	  	  	  	  	  	  	  	  
	
155

	  	  	  	  	  	  	  	  	  	  
	
156

	  	  	  	  	  	  	  	  	  	  
	
157

	  	  	  	  	  	  	  	  	  	  
	
158

	  	  	  	  	  	  	  	  	  	  
	
159

	  	  	  	  	  	  	  	  	  	  
	
160

	  	  	  	  	  	  	  	  	  	  
	
161

	  	  	  	  	  	  	  	  	  	  
	
162

	  	  	  	  	  	  	  	  	  	  
	
163

	  	  	  	  	  	  	  	  	  	  
	
164

	  	  	  	  	  	  	  	  	  	  
	
165

	  	  	  	  	  	  	  	  	  	  
	
166

	  	  	  	  	  	  	  	  	  	  
	
167

	  	  	  	  	  	  	  	  	  	  
	
168

	  	  	  	  	  	  	  	  	  	  
	
169

	  	  	  	  	  	  	  	  	  	  
	
170

	  	  	  	  	  	  	  	  	  	  
	
171

	  	  	  	  	  	  	  	  	  	  
	
172

	  	  	  	  	  	  	  	  	  	  
	
173

	  	  	  	  	  	  	  	  	  	  
	
174

	  	  	  	  	  	  	  	  	  	  
	
175

	  	  	  	  	  	  	  	  	  	  
	
176

	  	  	  	  	  	  	  	  	  	  
	
177

	  	  	  	  	  	  	  	  	  	  
	
178

	  	  	  	  	  	  	  	  	  	  
	
179

	  	  	  	  	  	  	  	  	  	  
	
180

	  	  	  	  	  	  	  	  	  	  
	
181

	  	  	  	  	  	  	  	  	  	  
	
182

	  	  	  	  	  	  	  	  	  	  
	
183

	  	  	  	  	  	  	  	  	  	  
	
184

	  	  	  	  	  	  	  	  	  	  
	
185

	  	  	  	  	  	  	  	  	  	  
	
186

	  	  	  	  	  	  	  	  	  	  
	
187

	  	  	  	  	  	  	  	  	  	  
	
188

	  	  	  	  	  	  	  	  	  	  
	
189

	  	  	  	  	  	  	  	  	  	  
	
190

	  	  	  	  	  	  	  	  	  	  
	
191

	  	  	  	  	  	  	  	  	  	  
	
192

	  	  	  	  	  	  	  	  	  	  
	
193

	  	  	  	  	  	  	  	  	  	  
	
194

	  	  	  	  	  	  	  	  	  	  
	
195

	  	  	  	  	  	  	  	  	  	  
	
196

	  	  	  	  	  	  	  	  	  	  
	
197

	  	  	  	  	  	  	  	  	  	  
	
198

	  	  	  	  	  	  	  	  	  	  
	
199

	  	  	  	  	  	  	  	  	  	  
	
200

	  	  	  	  	  	  	  	  	  	  
	
201

	  	  	  	  	  	  	  	  	  	  
	
202

	  	  	  	  	  	  	  	  	  	  
	
203

	  	  	  	  	  	  	  	  	  	  
	
204

	  	  	  	  	  	  	  	  	  	  
	
205

	  	  	  	  	  	  	  	  	  	  
	
206

	  	  	  	  	  	  	  	  	  	  
	
207

	  	  	  	  	  	  	  	  	  	  
	
208

	  	  	  	  	  	  	  	  	  	  
	
209

	  	  	  	  	  	  	  	  	  	  
	
210

	  	  	  	  	  	  	  	  	  	  
	
211

	  	  	  	  	  	  	  	  	  	  
	
212

	  	  	  	  	  	  	  	  	  	  
	
213

	  	  	  	  	  	  	  	  	  	  
	
214

	  	  	  	  	  	  	  	  	  	  
	
215

	  	  	  	  	  	  	  	  	  	  
	
216

	  	  	  	  	  	  	  	  	  	  
	
217

	  	  	  	  	  	  	  	  	  	  
	
218

	  	  	  	  	  	  	  	  	  	  
	
219

	  	  	  	  	  	  	  	  	  	  
	
220

	  	  	  	  	  	  	  	  	  	  
	
221

	  	  	  	  	  	  	  	  	  	  
	
222

	  	  	  	  	  	  	  	  	  	  
	
223

	  	  	  	  	  	  	  	  	  	  
	
224

	  	  	  	  	  	  	  	  	  	  
	
225

	  	  	  	  	  	  	  	  	  	  
	
226

	  	  	  	  	  	  	  	  	  	  
	
227

	  	  	  	  	  	  	  	  	  	  
	
228

	  	  	  	  	  	  	  	  	  	  
	
229

	  	  	  	  	  	  	  	  	  	  
	
230

	  	  	  	  	  	  	  	  	  	  
	
231

	  	  	  	  	  	  	  	  	  	  
	
232

	  	  	  	  	  	  	  	  	  	  
	
233

	  	  	  	  	  	  	  	  	  	  
	
234

	  	  	  	  	  	  	  	  	  	  
	
235

	  	  	  	  	  	  	  	  	  	  
	
236

	  	  	  	  	  	  	  	  	  	  
	
237

	  	  	  	  	  	  	  	  	  	  
	
238

	  	  	  	  	  	  	  	  	  	  
	
239

	  	  	  	  	  	  	  	  	  	  
	
240

	  	  	  	  	  	  	  	  	  	  
	
241

	  	  	  	  	  	  	  	  	  	  
	
242

	  	  	  	  	  	  	  	  	  	  
	
243

	  	  	  	  	  	  	  	  	  	  
	
244

	  	  	  	  	  	  	  	  	  	  
	
245

	  	  	  	  	  	  	  	  	  	  
	
246

	  	  	  	  	  	  	  	  	  	  
	
247

	  	  	  	  	  	  	  	  	  	  
	
248

	  	  	  	  	  	  	  	  	  	  
	
249

	  	  	  	  	  	  	  	  	  	  
	
250

	  	  	  	  	  	  	  	  	  	  
	
251

	  	  	  	  	  	  	  	  	  	  
	
252

	  	  	  	  	  	  	  	  	  	  
	
253

	  	  	  	  	  	  	  	  	  	  
	
254

	  	  	  	  	  	  	  	  	  	  
	
255

	  	  	  	  	  	  	  	  	  	  
	
256

	  	  	  	  	  	  	  	  	  	  
	
257

	  	  	  	  	  	  	  	  	  	  
	
258

	  	  	  	  	  	  	  	  	  	  
	
259

	  	  	  	  	  	  	  	  	  	  
	
260

	  	  	  	  	  	  	  	  	  	  
	
261

	  	  	  	  	  	  	  	  	  	  
	
262

	  	  	  	  	  	  	  	  	  	  
	
263

	  	  	  	  	  	  	  	  	  	  
	
264

	  	  	  	  	  	  	  	  	  	  
	
265

	  	  	  	  	  	  	  	  	  	  
	
266

	  	  	  	  	  	  	  	  	  	  
	
267

	  	  	  	  	  	  	  	  	  	  
	
268

	  	  	  	  	  	  	  	  	  	  
	
269

	  	  	  	  	  	  	  	  	  	  
	
270

	  	  	  	  	  	  	  	  	  	  
	
271

	  	  	  	  	  	  	  	  	  	  
	
272

	  	  	  	  	  	  	  	  	  	  
	
273

	  	  	  	  	  	  	  	  	  	  
	
274

	  	  	  	  	  	  	  	  	  	  
	
275

	  	  	  	  	  	  	  	  	  	  
	
276

	  	  	  	  	  	  	  	  	  	  
	
277

	  	  	  	  	  	  	  	  	  	  
	
278

	  	  	  	  	  	  	  	  	  	  
	
279

	  	  	  	  	  	  	  	  	  	  
	
280

	  	  	  	  	  	  	  	  	  	  
	
281

	  	  	  	  	  	  	  	  	  	  
	
282

	  	  	  	  	  	  	  	  	  	  
	
283

	  	  	  	  	  	  	  	  	  	  
	
284

	  	  	  	  	  	  	  	  	  	  
	
285

	  	  	  	  	  	  	  	  	  	  
	
286

	  	  	  	  	  	  	  	  	  	  
	
287

	  	  	  	  	  	  	  	  	  	  
	
288

	  	  	  	  	  	  	  	  	  	  
	
289

	  	  	  	  	  	  	  	  	  	  
	
290

	  	  	  	  	  	  	  	  	  	  
	
291

	  	  	  	  	  	  	  	  	  	  
	
292

	  	  	  	  	  	  	  	  	  	  
	
293

	  	  	  	  	  	  	  	  	  	  
	
294

	  	  	  	  	  	  	  	  	  	  
	
295

	  	  	  	  	  	  	  	  	  	  
	
296

	  	  	  	  	  	  	  	  	  	  
	
297

	  	  	  	  	  	  	  	  	  	  
	
298

	  	  	  	  	  	  	  	  	  	  
	
299

	  	  	  	  	  	  	  	  	  	  
	
300

	  	  	  	  	  	  	  	  	  	  
	
301

	  	  	  	  	  	  	  	  	  	  
	
302

	  	  	  	  	  	  	  	  	  	  









	  	
151

	
152

	
153

	
154

	
155

	
156

	
157


	
KEY

	
Pre-Modification


Initial Interest Rate


Change Downward


Cap

	
Pre-Modification


Subsequent Interest


Rate Cap

	
Pre-Modification


Next Interest Rate


Change Date

	
Pre-Modification I/O


Term

	
Forgiven Principal


Amount

	
Forgiven Interest


Amount

	
Number of


Modifications


	
1

	  	  	  	  	  	  	  
	
2

	  	  	  	  	  	  	  
	
3

	  	  	  	  	  	  	  
	
4

	  	  	  	  	  	  	  
	
5

	  	  	  	  	  	  	  
	
6

	  	  	  	  	  	  	  
	
7

	  	  	  	  	  	  	  
	
8

	  	  	  	  	  	  	  
	
9

	  	  	  	  	  	  	  
	
10

	  	  	  	  	  	  	  
	
11

	  	  	  	  	  	  	  
	
12

	  	  	  	  	  	  	  
	
13

	  	  	  	  	  	  	  
	
14

	  	  	  	  	  	  	  
	
15

	  	  	  	  	  	  	  
	
16

	  	  	  	  	  	  	  
	
17

	  	  	  	  	  	  	  
	
18

	  	  	  	  	  	  	  
	
19

	  	  	  	  	  	  	  
	
20

	  	  	  	  	  	  	  
	
21

	  	  	  	  	  	  	  
	
22

	  	  	  	  	  	  	  
	
23

	  	  	  	  	  	  	  
	
24

	  	  	  	  	  	  	  
	
25

	  	  	  	  	  	  	  
	
26

	  	  	  	  	  	  	  
	
27

	  	  	  	  	  	  	  
	
28

	  	  	  	  	  	  	  
	
29

	  	  	  	  	  	  	  
	
30

	  	  	  	  	  	  	  
	
31

	  	  	  	  	  	  	  
	
32

	  	  	  	  	  	  	  
	
33

	  	  	  	  	  	  	  
	
34

	  	  	  	  	  	  	  
	
35

	  	  	  	  	  	  	  
	
36

	  	  	  	  	  	  	  
	
37

	  	  	  	  	  	  	  
	
38

	  	  	  	  	  	  	  
	
39

	  	  	  	  	  	  	  
	
40

	  	  	  	  	  	  	  
	
41

	  	  	  	  	  	  	  
	
42

	  	  	  	  	  	  	  
	
43

	  	  	  	  	  	  	  
	
44

	  	  	  	  	  	  	  
	
45

	  	  	  	  	  	  	  
	
46

	  	  	  	  	  	  	  
	
47

	  	  	  	  	  	  	  
	
48

	  	  	  	  	  	  	  
	
49

	  	  	  	  	  	  	  
	
50

	  	  	  	  	  	  	  
	
51

	  	  	  	  	  	  	  
	
52

	  	  	  	  	  	  	  
	
53

	  	  	  	  	  	  	  
	
54

	  	  	  	  	  	  	  
	
55

	  	  	  	  	  	  	  
	
56

	  	  	  	  	  	  	  
	
57

	  	  	  	  	  	  	  
	
58

	  	  	  	  	  	  	  
	
59

	  	  	  	  	  	  	  
	
60

	  	  	  	  	  	  	  
	
61

	  	  	  	  	  	  	  
	
62

	  	  	  	  	  	  	  
	
63

	  	  	  	  	  	  	  
	
64

	  	  	  	  	  	  	  
	
65

	  	  	  	  	  	  	  
	
66

	  	  	  	  	  	  	  
	
67

	  	  	  	  	  	  	  
	
68

	  	  	  	  	  	  	  
	
69

	  	  	  	  	  	  	  
	
70

	  	  	  	  	  	  	  
	
71

	  	  	  	  	  	  	  
	
72

	  	  	  	  	  	  	  
	
73

	  	  	  	  	  	  	  
	
74

	  	  	  	  	  	  	  
	
75

	  	  	  	  	  	  	  
	
76

	  	  	  	  	  	  	  
	
77

	  	  	  	  	  	  	  
	
78

	  	  	  	  	  	  	  
	
79

	  	  	  	  	  	  	  
	
80

	  	  	  	  	  	  	  
	
81

	  	  	  	  	  	  	  
	
82

	  	  	  	  	  	  	  
	
83

	  	  	  	  	  	  	  
	
84

	  	  	  	  	  	  	  
	
85

	  	  	  	  	  	  	  
	
86

	  	  	  	  	  	  	  
	
87

	  	  	  	  	  	  	  
	
88

	  	  	  	  	  	  	  
	
89

	  	  	  	  	  	  	  
	
90

	  	  	  	  	  	  	  
	
91

	  	  	  	  	  	  	  
	
92

	  	  	  	  	  	  	  
	
93

	  	  	  	  	  	  	  
	
94

	  	  	  	  	  	  	  
	
95

	  	  	  	  	  	  	  
	
96

	  	  	  	  	  	  	  
	
97

	  	  	  	  	  	  	  
	
98

	  	  	  	  	  	  	  
	
99

	  	  	  	  	  	  	  
	
100

	  	  	  	  	  	  	  
	
101

	  	  	  	  	  	  	  
	
102

	  	  	  	  	  	  	  
	
103

	  	  	  	  	  	  	  
	
104

	  	  	  	  	  	  	  
	
105

	  	  	  	  	  	  	  
	
106

	  	  	  	  	  	  	  
	
107

	  	  	  	  	  	  	  
	
108

	  	  	  	  	  	  	  
	
109

	  	  	  	  	  	  	  
	
110

	  	  	  	  	  	  	  
	
111

	  	  	  	  	  	  	  
	
112

	  	  	  	  	  	  	  
	
113

	  	  	  	  	  	  	  
	
114

	  	  	  	  	  	  	  
	
115

	  	  	  	  	  	  	  
	
116

	  	  	  	  	  	  	  
	
117

	  	  	  	  	  	  	  
	
118

	  	  	  	  	  	  	  
	
119

	  	  	  	  	  	  	  
	
120

	  	  	  	  	  	  	  
	
121

	  	  	  	  	  	  	  
	
122

	  	  	  	  	  	  	  
	
123

	  	  	  	  	  	  	  
	
124

	  	  	  	  	  	  	  
	
125

	  	  	  	  	  	  	  
	
126

	  	  	  	  	  	  	  
	
127

	  	  	  	  	  	  	  
	
128

	  	  	  	  	  	  	  
	
129

	  	  	  	  	  	  	  
	
130

	  	  	  	  	  	  	  
	
131

	  	  	  	  	  	  	  
	
132

	  	  	  	  	  	  	  
	
133

	  	  	  	  	  	  	  
	
134

	  	  	  	  	  	  	  
	
135

	  	  	  	  	  	  	  
	
136

	  	  	  	  	  	  	  
	
137

	  	  	  	  	  	  	  
	
138

	  	  	  	  	  	  	  
	
139

	  	  	  	  	  	  	  
	
140

	  	  	  	  	  	  	  
	
141

	  	  	  	  	  	  	  
	
142

	  	  	  	  	  	  	  
	
143

	  	  	  	  	  	  	  
	
144

	  	  	  	  	  	  	  
	
145

	  	  	  	  	  	  	  
	
146

	  	  	  	  	  	  	  
	
147

	  	  	  	  	  	  	  
	
148

	  	  	  	  	  	  	  
	
149

	  	  	  	  	  	  	  
	
150

	  	  	  	  	  	  	  
	
151

	  	  	  	  	  	  	  
	
152

	  	  	  	  	  	  	  
	
153

	  	  	  	  	  	  	  
	
154

	  	  	  	  	  	  	  
	
155

	  	  	  	  	  	  	  
	
156

	  	  	  	  	  	  	  
	
157

	  	  	  	  	  	  	  
	
158

	  	  	  	  	  	  	  
	
159

	  	  	  	  	  	  	  
	
160

	  	  	  	  	  	  	  
	
161

	  	  	  	  	  	  	  
	
162

	  	  	  	  	  	  	  
	
163

	  	  	  	  	  	  	  
	
164

	  	  	  	  	  	  	  
	
165

	  	  	  	  	  	  	  
	
166

	  	  	  	  	  	  	  
	
167

	  	  	  	  	  	  	  
	
168

	  	  	  	  	  	  	  
	
169

	  	  	  	  	  	  	  
	
170

	  	  	  	  	  	  	  
	
171

	  	  	  	  	  	  	  
	
172

	  	  	  	  	  	  	  
	
173

	  	  	  	  	  	  	  
	
174

	  	  	  	  	  	  	  
	
175

	  	  	  	  	  	  	  
	
176

	  	  	  	  	  	  	  
	
177

	  	  	  	  	  	  	  
	
178

	  	  	  	  	  	  	  
	
179

	  	  	  	  	  	  	  
	
180

	  	  	  	  	  	  	  
	
181

	  	  	  	  	  	  	  
	
182

	  	  	  	  	  	  	  
	
183

	  	  	  	  	  	  	  
	
184

	  	  	  	  	  	  	  
	
185

	  	  	  	  	  	  	  
	
186

	  	  	  	  	  	  	  
	
187

	  	  	  	  	  	  	  
	
188

	  	  	  	  	  	  	  
	
189

	  	  	  	  	  	  	  
	
190

	  	  	  	  	  	  	  
	
191

	  	  	  	  	  	  	  
	
192

	  	  	  	  	  	  	  
	
193

	  	  	  	  	  	  	  
	
194

	  	  	  	  	  	  	  
	
195

	  	  	  	  	  	  	  
	
196

	  	  	  	  	  	  	  
	
197

	  	  	  	  	  	  	  
	
198

	  	  	  	  	  	  	  
	
199

	  	  	  	  	  	  	  
	
200

	  	  	  	  	  	  	  
	
201

	  	  	  	  	  	  	  
	
202

	  	  	  	  	  	  	  
	
203

	  	  	  	  	  	  	  
	
204

	  	  	  	  	  	  	  
	
205

	  	  	  	  	  	  	  
	
206

	  	  	  	  	  	  	  
	
207

	  	  	  	  	  	  	  
	
208

	  	  	  	  	  	  	  
	
209

	  	  	  	  	  	  	  
	
210

	  	  	  	  	  	  	  
	
211

	  	  	  	  	  	  	  
	
212

	  	  	  	  	  	  	  
	
213

	  	  	  	  	  	  	  
	
214

	  	  	  	  	  	  	  
	
215

	  	  	  	  	  	  	  
	
216

	  	  	  	  	  	  	  
	
217

	  	  	  	  	  	  	  
	
218

	  	  	  	  	  	  	  
	
219

	  	  	  	  	  	  	  
	
220

	  	  	  	  	  	  	  
	
221

	  	  	  	  	  	  	  
	
222

	  	  	  	  	  	  	  
	
223

	  	  	  	  	  	  	  
	
224

	  	  	  	  	  	  	  
	
225

	  	  	  	  	  	  	  
	
226

	  	  	  	  	  	  	  
	
227

	  	  	  	  	  	  	  
	
228

	  	  	  	  	  	  	  
	
229

	  	  	  	  	  	  	  
	
230

	  	  	  	  	  	  	  
	
231

	  	  	  	  	  	  	  
	
232

	  	  	  	  	  	  	  
	
233

	  	  	  	  	  	  	  
	
234

	  	  	  	  	  	  	  
	
235

	  	  	  	  	  	  	  
	
236

	  	  	  	  	  	  	  
	
237

	  	  	  	  	  	  	  
	
238

	  	  	  	  	  	  	  
	
239

	  	  	  	  	  	  	  
	
240

	  	  	  	  	  	  	  
	
241

	  	  	  	  	  	  	  
	
242

	  	  	  	  	  	  	  
	
243

	  	  	  	  	  	  	  
	
244

	  	  	  	  	  	  	  
	
245

	  	  	  	  	  	  	  
	
246

	  	  	  	  	  	  	  
	
247

	  	  	  	  	  	  	  
	
248

	  	  	  	  	  	  	  
	
249

	  	  	  	  	  	  	  
	
250

	  	  	  	  	  	  	  
	
251

	  	  	  	  	  	  	  
	
252

	  	  	  	  	  	  	  
	
253

	  	  	  	  	  	  	  
	
254

	  	  	  	  	  	  	  
	
255

	  	  	  	  	  	  	  
	
256

	  	  	  	  	  	  	  
	
257

	  	  	  	  	  	  	  
	
258

	  	  	  	  	  	  	  
	
259

	  	  	  	  	  	  	  
	
260

	  	  	  	  	  	  	  
	
261

	  	  	  	  	  	  	  
	
262

	  	  	  	  	  	  	  
	
263

	  	  	  	  	  	  	  
	
264

	  	  	  	  	  	  	  
	
265

	  	  	  	  	  	  	  
	
266

	  	  	  	  	  	  	  
	
267

	  	  	  	  	  	  	  
	
268

	  	  	  	  	  	  	  
	
269

	  	  	  	  	  	  	  
	
270

	  	  	  	  	  	  	  
	
271

	  	  	  	  	  	  	  
	
272

	  	  	  	  	  	  	  
	
273

	  	  	  	  	  	  	  
	
274

	  	  	  	  	  	  	  
	
275

	  	  	  	  	  	  	  
	
276

	  	  	  	  	  	  	  
	
277

	  	  	  	  	  	  	  
	
278

	  	  	  	  	  	  	  
	
279

	  	  	  	  	  	  	  
	
280

	  	  	  	  	  	  	  
	
281

	  	  	  	  	  	  	  
	
282

	  	  	  	  	  	  	  
	
283

	  	  	  	  	  	  	  
	
284

	  	  	  	  	  	  	  
	
285

	  	  	  	  	  	  	  
	
286

	  	  	  	  	  	  	  
	
287

	  	  	  	  	  	  	  
	
288

	  	  	  	  	  	  	  
	
289

	  	  	  	  	  	  	  
	
290

	  	  	  	  	  	  	  
	
291

	  	  	  	  	  	  	  
	
292

	  	  	  	  	  	  	  
	
293

	  	  	  	  	  	  	  
	
294

	  	  	  	  	  	  	  
	
295

	  	  	  	  	  	  	  
	
296

	  	  	  	  	  	  	  
	
297

	  	  	  	  	  	  	  
	
298

	  	  	  	  	  	  	  
	
299

	  	  	  	  	  	  	  
	
300

	  	  	  	  	  	  	  
	
301

	  	  	  	  	  	  	  
	
302

	  	  	  	  	  	  	  

















	  	  	  	  	  	  	  	  
	
KEY

	
Cash To/From Brrw at Closing

	
Brrw - Yrs at in Industry

	
CoBrrw - Yrs at in Industry

	
Junior Mortgage Drawn Amount

	
Maturity Date

	
Primary Borrower Wage Income (Salary)

	
Primary Borrower Wage Income (Bonus)


	
1

	
-4101.02

	
3

	
0

	
0

	
20400801

	
0

	
0


	
2

	
-50453.77

	
20

	  	
121915

	
20400901

	
58412

	
0


	
3

	
2738.37

	
40

	
0

	
0

	
20400901

	
17579

	
0


	
4

	
-16139.47

	
15.7

	
15.3

	
0

	
20401001

	
18289

	
0


	
5

	
-184790.97

	
30

	
0

	
0

	
20400801

	
0

	
0


	
6

	
-60040.05

	
15

	  	
0

	
20401001

	
20000

	
17041


	
7

	
-21158.93

	
30

	
0

	
156150

	
20401001

	
33386.41

	
0.00


	
8

	
0

	
35

	
35

	
0

	
20401001

	
87315

	
0


	
9

	
-337329.48

	
12

	
12

	
0

	
20401001

	
25092.08

	
0.00


	
10

	
-8332.68

	
2

	
0

	
0

	
20401101

	
0

	
0


	
11

	
-15000.06

	
19

	
21

	
59694

	
20401001

	
10875

	
0


	
12

	
204.8

	
25

	  	
0

	
20401101

	
36416

	
0.00


	
13

	
-844.82

	
13.3

	
20

	
0

	
20401001

	
18361

	
0.00


	
14

	
-6512.36

	
25

	
0

	
0

	
20401101

	
20417

	
0.00


	
15

	
1537.31

	
21.6

	
0

	
0

	
20401201

	
23198

	
0.00


	
16

	
-175000

	
15

	
15

	
500000

	
20401101

	
13750

	
0


	
17

	
-20640.28

	
29.5

	
29.5

	
425000

	
20401101

	
28958

	
0.00


	
18

	
-1654.36

	
16

	
0

	
0

	
20401101

	
46700.08

	
0.00


	
19

	
-7484.98

	
20

	
0

	
0

	
20401101

	
19500

	
0.00


	
20

	
-227023.47

	
25

	  	
0

	
20401101

	
19670

	
9511


	
21

	
81387.41

	
28

	
0

	
425000

	
20401201

	
38233

	
0.00


	
22

	
-13504.25

	
15.5

	
15

	
86646

	
20401201

	
22371

	
0.00


	
23

	
-247216.48

	
20

	
0

	
0

	
20401201

	
43233

	
0.00


	
24

	
-975666.75

	
28

	
0

	
0

	
20401201

	
44382

	
0.00


	
25

	
-67183.1

	
17.2

	
11

	
0

	
20410101

	
12126

	
0.00


	
26

	
-307059.99

	
23.4

	  	
200000

	
20410101

	
45746

	
0.00


	
27

	
-19571.29

	
10.51

	
0

	
0

	
20400901

	
16666.67

	
0


	
28

	
-218116.65

	
10.4

	
10.4

	
0

	
20410101

	
1663

	
0.00


	
29

	
-307300.68

	
10

	  	
100000

	
20401001

	
25618

	
0.00


	
30

	
812.8

	
3.67

	
0

	
0

	
20401201

	
24997

	
0.00


	
31

	
-326641.93

	
4.4

	
0

	
0

	
20401101

	
9167

	
50313


	
32

	
-153733.58

	
10

	
0.4

	
0

	
20400901

	
19166.67

	
3678.01


	
33

	
-11937.21

	
24

	  	
0

	
20400801

	
19056

	
0.00


	
34

	
-19132.42

	
23

	  	
0

	
20400801

	
20483

	
0.00


	
35

	
0

	
21

	  	
0

	
20400801

	
13600

	
4172.26


	
36

	
-128728.83

	
0

	
0

	
0

	
20400701

	
7500

	
0


	
37

	
-269523.21

	
1.7

	
3.5

	
0

	
20400801

	
41666.66

	
0


	
38

	
-14587.83

	
31.5

	  	
0

	
20401001

	
36667

	
0


	
39

	
-327962.79

	
28

	
0

	
0

	
20400701

	
12500

	
0


	
40

	
-114987.96

	
20.5

	  	
0

	
20400801

	
4166.66

	
0


	
41

	
-410744.32

	
21

	
0

	
0

	
20400801

	
20000

	
0


	
42

	
-392158.72

	
25.1

	
0

	
0

	
20400801

	
14583.33

	
0


	
43

	
-459218

	
0

	
9.1

	
0

	
20400801

	
0

	
0


	
44

	
-6463.06

	
20

	
0

	
0

	
20400801

	
10583.43

	
8333


	
45

	
-155492.22

	
22

	  	
0

	
20401001

	
13333

	
0


	
46

	
100.83

	
3

	
3

	
0

	
20400901

	
6250

	
0


	
47

	
-217333.83

	
12.1

	  	
0

	
20400801

	
18471.46

	
0


	
48

	
-145481.22

	
10

	  	
0

	
20400801

	
15000

	
0


	
49

	
0

	
51

	  	
3002.28

	
20400901

	
117126

	
0


	
50

	
-176882.65

	
6

	
0

	
0

	
20400901

	
28749.98

	
0


	
51

	
10095.32

	
0

	
15.3

	
14000

	
20400801

	
0

	
0


	
52

	
-702779.42

	
2.6

	
2.6

	
0

	
20400801

	
0

	
0


	
53

	
-393.32

	
0

	
16

	
0

	
20401001

	
0.00

	
0.00


	
54

	
-1073989

	
10

	
0

	
0

	
20400801

	
33333

	
0


	
55

	
-2595.29

	
15

	  	
0

	
20400901

	
29652

	
0


	
56

	
-129648.36

	
22.6

	  	
0

	
20400801

	
14900

	
0


	
57

	
1779.21

	
0

	
4

	
0

	
20401101

	
0

	
0


	
58

	
-15486.99

	
20

	
0

	
0

	
20401201

	
189124

	
0.00


	
59

	
-213607.1

	
26

	
5

	
0

	
20401001

	
22175

	
0


	
60

	
-2009001.2

	
13

	
0

	
0

	
20400901

	
26116

	
0


	
61

	
-212857.72

	
25.6

	
0

	
0

	
20400901

	
22897

	
8461.49


	
62

	
-724.47

	
22.3

	
0

	
0

	
20401001

	
36681

	
0.00


	
63

	
-141036.06

	
10

	
10

	
0

	
20401001

	
23342.69

	
0.00


	
64

	
-202910

	
13

	
0

	
0

	
20401001

	
23258.78

	
0


	
65

	
-350896.72

	
13.9

	  	
0

	
20400901

	
16450

	
0


	
66

	
-24558.04

	
32

	
0

	
0

	
20400901

	
12944

	
0.00


	
67

	
-272663.41

	
19.2

	  	
0

	
20401001

	
28333

	
0.00


	
68

	
-20059.2

	
30

	  	
0

	
20401101

	
21677

	
0.00


	
69

	
-163076.23

	
3.3

	
0

	
0

	
20400901

	
7500

	
0.00


	
70

	
-440351.87

	
15

	
8.6

	
0

	
20401001

	
29575

	
1891


	
71

	
-18148.56

	
6.5

	
15

	
68580

	
20401001

	
12083.07

	
0.00


	
72

	
-17172.82

	
20

	
25

	
250000

	
20401001

	
30833

	
0


	
73

	
7135.46

	
3.8

	
20

	
0

	
20401201

	
0.00

	
0.00


	
74

	
-5390.69

	
99

	
0

	
0

	
20401201

	
0.00

	
0.00


	
75

	
-5549.24

	
2.3

	
0

	
0

	
20401001

	
20833.34

	
0.00


	
76

	
-15701.77

	
0

	
10.5

	
0

	
20401001

	
0.00

	
0.00


	
77

	
-778848.17

	
0

	
22

	
0

	
20401001

	
0

	
0


	
78

	
-123402.44

	
13.1

	
0

	
0

	
20400901

	
10169.7

	
0.00


	
79

	
-137845.58

	
3

	
2

	
0

	
20400901

	
12466.44

	
0


	
80

	
56.91

	
3.1

	  	
0

	
20401001

	
18278

	
0.00


	
81

	
-16054.56

	
31

	  	
100000

	
20401101

	
50839

	
0.00


	
82

	
-197867.93

	
27.7

	
0

	
0

	
20401001

	
14136.4

	
0.00


	
83

	
-248669.85

	
20

	
10.59

	
0

	
20400901

	
10416.67

	
0


	
84

	
-352321.76

	
22

	
2.5

	
0

	
20400901

	
10790.78

	
0.00


	
85

	
-58656.54

	
8.2

	  	
0

	
20401101

	
20833

	
0


	
86

	
-7994.43

	
0

	
35

	
0

	
20401101

	
0

	
0


	
87

	
-1132255.2

	
20

	  	
0

	
20401001

	
58333.34

	
58333


	
88

	
-10545.24

	
6

	
0

	
0

	
20401101

	
61181

	
0


	
89

	
-205505.58

	
8

	
0

	
0

	
20401001

	
12995.65

	
0.00


	
90

	
-200133.51

	
3.6

	  	
0

	
20401201

	
37625.46

	
0.00


	
91

	
-189216.17

	
15

	
0

	
0

	
20400901

	
32500

	
0


	
92

	
-3723.51

	
13

	  	
90846

	
20401201

	
23311

	
0.00


	
93

	
-3596.64

	
16.7

	  	
0

	
20401001

	
18038.52

	
0.00


	
94

	
-257.48

	
10

	
0

	
0

	
20401201

	
25000.02

	
0.00


	
95

	
-289840.32

	
11.2

	
8.3

	
0

	
20401001

	
8458.33

	
0.00


	
96

	
-107375.35

	
99

	
0

	
0

	
20401201

	
0.00

	
0.00


	
97

	
-13.57

	
3.2

	  	
0

	
20401001

	
16029.02

	
0


	
98

	
-141045.45

	
15

	
0

	
0

	
20401001

	
16250

	
0.00


	
99

	
777.33

	
12.5

	
0

	
0

	
20401101

	
31232

	
0.00


	
100

	
121

	
5

	  	
0

	
20401101

	
19180

	
2830.47


	
101

	
-221001.93

	
8.7

	
5.7

	
0

	
20401001

	
16683

	
0.00


	
102

	
-1252.62

	
0.7

	
0

	
150000

	
20401201

	
33333.34

	
0.00


	
103

	
-284183.72

	
10

	
10

	
0

	
20401001

	
96147

	
0.00


	
104

	
-3215.06

	
28

	
0

	
0

	
20401101

	
21142.86

	
0


	
105

	
-394002.6

	
7.9

	
0

	
0

	
20401001

	
16557

	
5430.85


	
106

	
1290.81

	
6

	
0

	
100000

	
20401201

	
8900

	
9304


	
107

	
-3349.83

	
22

	
0

	
149609

	
20401101

	
25300

	
0.00


	
108

	
-4615.72

	
33

	
0

	
82092

	
20401201

	
47099

	
0.00


	
109

	
-55728.46

	
14

	  	
0

	
20401101

	
16666.67

	
52046


	
110

	
946.84

	
28

	
0

	
0

	
20401101

	
27250

	
0.00


	
111

	
-14457.39

	
20

	  	
0

	
20401101

	
27379

	
0.00


	
112

	
-154810.83

	
7.3

	
0

	
0

	
20401201

	
11913.28

	
0.00


	
113

	
-152744.68

	
99

	
0

	
0

	
20401101

	
0.00

	
0.00


	
114

	
97.3

	
99

	
0

	
0

	
20410101

	
0.00

	
0.00


	
115

	
-141171.33

	
12

	  	
0

	
20401201

	
13083.33

	
0.00


	
116

	
-48919.15

	
11.67

	
0

	
0

	
20410101

	
18242.46

	
19708.13


	
117

	
22632.01

	
4.1

	  	
0

	
20401201

	
15047.06

	
3866.67


	
118

	
6

	
7.09

	  	
0

	
20401201

	
10976

	
15781


	
119

	
8016.81

	
11.76

	
0

	
0

	
20410101

	
41250

	
6781


	
120

	
-21887.26

	
8.5

	
0

	
0

	
20410101

	
23954.88

	
0.00


	
121

	
20607.19

	
20.9

	
3

	
50000

	
20410101

	
35635

	
0.00


	
122

	
-25552.14

	
5.09

	
0

	
0

	
20410101

	
19461

	
15169


	
123

	
-158618

	
20

	
20

	
0

	
20410101

	
14767

	
0


	
124

	
-199868.58

	
18

	  	
0

	
20401201

	
73014

	
0.00


	
125

	
-215021.09

	
99

	
0

	
0

	
20410101

	
0.00

	
0.00


	
126

	
-221469.48

	
10

	
0

	
0

	
20410101

	
16667

	
10674


	
127

	
-10239.34

	
19

	
0

	
756110

	
20400801

	
118676

	
0.00


	
128

	
3943.18

	
41

	
0

	
165000

	
20400701

	
30154.42

	
0.00


	
129

	
-289172.59

	
13

	
0

	
0

	
20400701

	
31723.54

	
0.00


	
130

	
-677961.17

	
27

	
0

	
0

	
20400701

	
19958.33

	
10750


	
131

	
95

	
24

	
0

	
490000

	
20400801

	
33333

	
103865.5


	
132

	
-624566.07

	
8

	  	
0

	
20400801

	
10833

	
25096


	
133

	
-13791.9

	
5

	  	
0

	
20400801

	
13812.67

	
0


	
134

	
-307588.57

	
10

	
0

	
0

	
20400801

	
29166.66

	
0


	
135

	
-72755.2

	
15

	
16

	
0

	
20400801

	
15998

	
0


	
136

	
-316836.62

	
9.5

	
0

	
0

	
20400801

	
14583.34

	
0.00


	
137

	
-174209.81

	
15

	
15

	
0

	
20400901

	
18333.33

	
0


	
138

	
-122530.79

	
13

	
0

	
0

	
20400901

	
45138.9

	
0


	
139

	
9377.63

	
20

	
14

	
0

	
20400901

	
43770

	
0


	
140

	
-184839.06

	
17

	
10

	
0

	
20400901

	
18055

	
0


	
141

	
239

	
8

	
0

	
135000

	
20400901

	
27689

	
0


	
142

	
-10000

	
18

	
0

	
137709.36

	
20400901

	
51417.25

	
0


	
143

	
-596.15

	
14

	
4

	
1280865.4

	
20400901

	
0

	
76579


	
144

	
-7742.34

	
15

	
0

	
100000

	
20400901

	
0

	
0


	
145

	
-700566.08

	
8

	
7

	
0

	
20400901

	
7916.66

	
0


	
146

	
1466.16

	
34

	
22

	
260000

	
20401001

	
17039

	
0


	
147

	
-295041.5

	
11

	
0

	
0

	
20400901

	
16667

	
6111


	
148

	
-1275830.8

	
12

	  	
0

	
20401001

	
16667

	
13173


	
149

	
-33887.11

	
44

	
0

	
0

	
20400901

	
8750

	
0


	
150

	
-505630.47

	
42

	
29

	
381250

	
20400901

	
15607

	
0


	
151

	
-5515.5

	
15

	
15

	
0

	
20400901

	
21872.93

	
0


	
152

	
22.5

	
19

	
0

	
750000

	
20400901

	
62500

	
14978


	
153

	
-3562.98

	
33

	
0

	
0

	
20400901

	
49278.13

	
0


	
154

	
-686135.25

	
15

	
0

	
0

	
20400901

	
26814

	
0


	
155

	
-615605.36

	
5

	
0

	
0

	
20400901

	
20833

	
5833


	
156

	
-554746.37

	
12

	
0

	
0

	
20401001

	
16883

	
5684


	
157

	
-229469.05

	
19

	
42

	
0

	
20400901

	
4847.22

	
0


	
158

	
-10140.08

	
31

	
0

	
0

	
20401001

	
0

	
0


	
159

	
-2889.52

	
19

	  	
0

	
20401101

	
8333

	
0


	
160

	
-720509.09

	
11

	
14

	
400000

	
20401001

	
16250

	
3810


	
161

	
-323107.85

	
15

	
10

	
350000

	
20401001

	
78112

	
0


	
162

	
-106046.91

	
16

	
0

	
0

	
20401001

	
12190

	
0


	
163

	
-79959.84

	
17

	  	
0

	
20401101

	
16667

	
9671


	
164

	
-696518.16

	
25

	
0

	
0

	
20401001

	
25833.34

	
13333.33


	
165

	
-41689.4

	
99

	
0

	
0

	
20401201

	
0

	
0


	
166

	
-494819.05

	
6

	
0

	
0

	
20401001

	
21145

	
43605


	
167

	
-56577.98

	
20

	
0

	
1300000

	
20401001

	
56198

	
0


	
168

	
-9445.73

	
20

	
0

	
0

	
20401001

	
45832

	
0


	
169

	
-4588.3

	
28

	
0

	
100000

	
20401101

	
23338.34

	
0


	
170

	
-258910.91

	
13

	
0

	
0

	
20401201

	
91913

	
0


	
171

	
1128.45

	
20

	
0

	
0

	
20401001

	
14583

	
36667


	
172

	
5594.49

	
15

	
0

	
100000

	
20401101

	
27918

	
0


	
173

	
-6050.65

	
14

	
0

	
0

	
20401101

	
35004

	
0


	
174

	
-377946.15

	
33

	
0

	
0

	
20401101

	
38542

	
0


	
175

	
-1886737.4

	
18

	
21

	
0

	
20401001

	
13666

	
0


	
176

	
-2157.32

	
22

	
0

	
110000

	
20401101

	
63182

	
0


	
177

	
-6229.39

	
4.7

	
0

	
0

	
20401101

	
16250

	
11429


	
178

	
-331946.04

	
4

	
3

	
0

	
20401001

	
13650

	
0


	
179

	
-2741111.4

	
12

	
14

	
0

	
20401101

	
33333

	
133333


	
180

	
-277701.85

	
12

	
0

	
0

	
20401101

	
22917

	
0


	
181

	
-4802.45

	
42

	
0

	
0

	
20401101

	
54522

	
0


	
182

	
-13970.01

	
23

	
15

	
0

	
20401101

	
14185

	
0


	
183

	
-10192.54

	
20

	
0

	
0

	
20401101

	
16667

	
31250


	
184

	
-2418.14

	
22

	
0

	
0

	
20401201

	
0

	
0


	
185

	
-93608.86

	
25

	
25

	
0

	
20401201

	
178

	
0.00


	
186

	
105844.3

	
31

	
0

	
100000

	
20401201

	
18190

	
0


	
187

	
-382020.59

	
14

	
0

	
0

	
20401201

	
16666.67

	
0


	
188

	
-874723.55

	
14

	
0

	
500000

	
20390501

	
46268

	
0


	
189

	
378375.72

	
14

	
0

	
0

	
20390501

	
0

	
0


	
190

	
-71779.32

	
29

	
19

	
0

	
20390301

	
27334

	
51833


	
191

	
-36594.21

	
3

	
0

	
0

	
20390301

	
49546

	
0.00


	
192

	
-6525.2

	
16

	
0

	
0

	
20390301

	
19167

	
6292


	
193

	
-32090.19

	
13

	
0

	
0

	
20390301

	
15833

	
0.00


	
194

	
-121544.22

	
6

	
0

	
200000

	
20390301

	
26817

	
0.00


	
195

	
-9055.5

	
14

	
0

	
100000

	
20390801

	
0

	
0


	
196

	
-8867.03

	
10

	  	
0

	
20390401

	
20833

	
49946


	
197

	
-1536.68

	
28

	
24

	
0

	
20390301

	
0.00

	
0.00


	
198

	
10239.27

	
14

	
0

	
0

	
20390401

	
14337

	
79360


	
199

	
39607.08

	
3

	  	
300000

	
20390401

	
28592

	
0.00


	
200

	
-2157.1

	
12

	
15

	
0

	
20390401

	
0.00

	
0.00


	
201

	
-20741.31

	
9

	  	
0

	
20390401

	
12500

	
45903


	
202

	
1462693.4

	
17

	
0

	
0

	
20390401

	
45147

	
0.00


	
203

	
0

	
99

	  	
0

	
20390401

	
0.00

	
0.00


	
204

	
-4901.62

	
99

	  	
0

	
20390401

	
0.00

	
0.00


	
205

	
30629.81

	
25

	
20

	
0

	
20390401

	
67996

	
0.00


	
206

	
0

	
14

	
14

	
500000

	
20390401

	
16229

	
0


	
207

	
-10082.98

	
16

	
0

	
0

	
20390501

	
0

	
0


	
208

	
-167318.39

	
14

	
8

	
0

	
20390401

	
18750

	
0.00


	
209

	
-1646938

	
3

	
13

	
0

	
20390401

	
49523

	
0.00


	
210

	
-2737.76

	
19

	
0

	
0

	
20390401

	
23335

	
0.00


	
211

	
500

	
3

	
0

	
0

	
20390401

	
24794

	
0.00


	
212

	
-10913.67

	
15

	
0

	
110761.31

	
20390601

	
25000

	
24036


	
213

	
-18342.57

	
99

	
0

	
0

	
20390401

	
0

	
0


	
214

	
-218879.82

	
1

	
0

	
0

	
20390401

	
22568

	
0


	
215

	
-36302.52

	
13

	  	
150000

	
20390401

	
15000

	
77769


	
216

	
-13346.71

	
30

	
4

	
500000

	
20390401

	
22929.17

	
0


	
217

	
-542893.43

	
12

	
0

	
0

	
20390401

	
15488.42

	
0


	
218

	
-182145.96

	
9

	
8

	
0

	
20390501

	
10000

	
0


	
219

	
-3817.68

	
16

	
8

	
0

	
20390501

	
8642

	
0


	
220

	
-387134.18

	
22

	
19

	
100000

	
20390401

	
13750

	
0.00


	
221

	
-13390.44

	
3

	
0

	
0

	
20390501

	
0

	
0


	
222

	
-755335.24

	
30

	
0

	
0

	
20390401

	
0

	
0


	
223

	
-12538.8

	
27

	
0

	
0

	
20390501

	
0

	
0


	
224

	
0

	
15

	
0

	
0

	
20390401

	
39781

	
13571


	
225

	
32188.41

	
20

	
0

	
0

	
20390501

	
0

	
0


	
226

	
-7684.66

	
12

	
0

	
0

	
20390501

	
12500

	
0


	
227

	
-20682.95

	
4

	
0

	
0

	
20390501

	
3914.83

	
0


	
228

	
-400197.4

	
15

	
16

	
100000

	
20390401

	
17500

	
0.00


	
229

	
-15956.97

	
10

	
0

	
300000

	
20390501

	
29349

	
23166.67


	
230

	
-18251.89

	
15

	
0

	
0

	
20390501

	
8750.02

	
0


	
231

	
-860962.92

	
11

	
0

	
596500

	
20390401

	
0

	
0


	
232

	
-4652.54

	
10

	
0

	
0

	
20390401

	
0

	
0


	
233

	
-85068.37

	
15

	
2

	
0

	
20390501

	
0

	
0


	
234

	
-788711.5

	
8

	
0

	
0

	
20390401

	
8334

	
0


	
235

	
-5157.25

	
99

	
0

	
100000

	
20390501

	
0.00

	
0.00


	
236

	
-369357.99

	
28

	
24

	
100000

	
20390501

	
25657.6

	
12500


	
237

	
-217627.09

	
7

	
0

	
0

	
20390501

	
0

	
0


	
238

	
-122726.12

	
37

	
0

	
0

	
20390501

	
14625

	
2100


	
239

	
15.33

	
10

	
0

	
0

	
20390501

	
24167

	
0


	
240

	
-270239.8

	
11

	
0

	
0

	
20390501

	
15000

	
6458


	
241

	
-1250432.3

	
18

	
0

	
0

	
20390501

	
0

	
0


	
242

	
-11143.75

	
10

	
16

	
0

	
20390501

	
0

	
0


	
243

	
-1170157.5

	
99

	  	
100000

	
20390501

	
0

	
0


	
244

	
-1145719.4

	
3

	
4

	
0

	
20390601

	
0

	
0


	
245

	
-368593.5

	
20

	
0

	
100000

	
20390501

	
18750

	
37500


	
246

	
-14891.41

	
22

	
0

	
78750

	
20390601

	
71250

	
0


	
247

	
-7252.37

	
30

	
0

	
187000

	
20390701

	
0.00

	
0.00


	
248

	
-9835.72

	
36

	
0

	
0

	
20400201

	
88555

	
0.00


	
249

	
-40972.71

	
15

	
18

	
0

	
20391201

	
0

	
0


	
250

	
-374940.14

	
15

	
0

	
0

	
20400201

	
17029

	
22000


	
251

	
-17197.66

	
99

	
0

	
0

	
20400301

	
0

	
0


	
252

	
174567.94

	
27

	
9

	
300000

	
20400201

	
12500

	
0


	
253

	
-696546.01

	
24

	
20

	
0

	
20400401

	
0.00

	
0.00


	
254

	
-2147449.8

	
13

	
0

	
0

	
20400501

	
0

	
0


	
255

	
-78826.68

	
20

	
0

	
200000

	
20400701

	
37500

	
0


	
256

	
-1620634.5

	
14

	
0

	
0

	
20400701

	
13852.32

	
0


	
257

	
-1372690.7

	
6

	
15

	
500000

	
20400701

	
39270.88

	
0


	
258

	
-710135.41

	
11

	  	
0

	
20400701

	
118550.83

	
0


	
259

	
-249485.98

	
9

	
8

	
0

	
20401001

	
10416.66

	
0


	
260

	
545

	
5

	  	
0

	
20400701

	
42750

	
0


	
261

	
-1234067.3

	
15

	
12

	
0

	
20401101

	
33333.33

	
0


	
262

	
-950000

	
20

	
0

	
565000

	
20400801

	
66666.67

	
0.00


	
263

	
-315.68

	
23

	
0

	
80000

	
20400801

	
8957

	
0


	
264

	
-263564.68

	
25

	
0

	
0

	
20400801

	
23752.61

	
0


	
265

	
-433005.62

	
99

	  	
0

	
20400701

	
0

	
0


	
266

	
38

	
99

	
3

	
1500000

	
20400701

	
0

	
0


	
267

	
-1236976.8

	
18

	
20

	
500000

	
20400801

	
12500

	
0


	
268

	
-860848.12

	
11

	
0

	
0

	
20400901

	
33333.33

	
0


	
269

	
-7865.17

	
4

	  	
0

	
20400901

	
31250

	
0


	
270

	
-3551624.6

	
24

	  	
0

	
20400901

	
41666

	
0


	
271

	
-147387.71

	
9

	
16

	
156583.78

	
20400901

	
13333.34

	
25162


	
272

	
-431051.59

	
9

	  	
0

	
20401001

	
7500

	
0


	
273

	
202932.9

	
99

	  	
0

	
20400901

	
0.00

	
0.00


	
274

	
-358591.29

	
15.7

	
0

	
373600

	
20400901

	
35476

	
0


	
275

	
-19721.79

	
23.4

	
0

	
0

	
20400901

	
17500

	
13009.23


	
276

	
289328.46

	
40.5

	
40

	
0

	
20400901

	
21042

	
0


	
277

	
-307890.26

	
18

	  	
0

	
20400901

	
25000

	
0


	
278

	
-10226.6

	
6

	
0

	
0

	
20400901

	
33333.34

	
0


	
279

	
-41802.05

	
19

	
0

	
340000

	
20400901

	
54147

	
0


	
280

	
-623518.26

	
10

	
0

	
0

	
20401001

	
28667

	
0


	
281

	
-67359.19

	
27

	
0

	
0

	
20401001

	
46364

	
0


	
282

	
-17603.77

	
16

	
0

	
0

	
20401001

	
20625

	
0


	
283

	
-759963.15

	
14

	
0

	
0

	
20401101

	
16667

	
0


	
284

	
-11285.3

	
29

	
0

	
0

	
20401001

	
41666.68

	
11562.5


	
285

	
-20241.55

	
17

	
0

	
0

	
20401001

	
16666.67

	
5869.5


	
286

	
-194678.12

	
30

	
12

	
100000

	
20401001

	
24850

	
0


	
287

	
-13144.18

	
10

	
10

	
300000

	
20401001

	
8500

	
1680


	
288

	
-13144.18

	
29

	
0

	
428996

	
20401201

	
42425

	
0


	
289

	
-11315.65

	
20

	
0

	
0

	
20401001

	
90000

	
0


	
290

	
-3574.33

	
20

	
0

	
376000

	
20401101

	
25000

	
3750


	
291

	
-3574.33

	
35

	
0

	
0

	
20401001

	
32527

	
0.00


	
292

	
-7839.04

	
27

	
0

	
0

	
20401201

	
44598

	
0


	
293

	
-9066.76

	
30

	
0

	
0

	
20401101

	
0

	
0


	
294

	
-9446.28

	
16

	
0

	
0

	
20401101

	
18750

	
8676


	
295

	
-137818.06

	
19

	
0

	
0

	
20401201

	
12528

	
0.00


	
296

	
-97441.06

	
5

	  	
0

	
20401201

	
34145

	
0.00


	
297

	
40487

	
99

	
0

	
0

	
20410101

	
0

	
0


	
298

	
-161700.71

	
20

	  	
0

	
20410101

	
34546

	
0.00


	
299

	
-7803.67

	
20

	  	
25979

	
20410101

	
14063

	
0.00


	
300

	
-12940.09

	
8

	
0

	
402917

	
20401201

	
60593

	
0.00


	
301

	
753.98

	
28.77

	
28.6

	
0

	
20410101

	
13537

	
0.00


	
302

	
-6894.33

	
0

	
39

	
0

	
20410101

	
0

	
0










	  	  	  	  	  	  	  	  
	
KEY

	
Primary Borrower Wage Income (Commission)

	
Co-Borrower Wage Income (Salary)

	
Co-Borrower Wage Income (Bonus)

	
Co-Borrower Wage Income (Commission)

	
Originator Doc Code

	
RWT Income Verification

	
RWT Asset Verification


	
1

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
2

	
0

	  	  	  	
Full

	
2 years

	
Y


	
3

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
4

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
5

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
6

	
0

	  	  	  	
Full

	
2 years

	
Y


	
7

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
8

	
0

	
7583

	
0

	
0

	
Full

	
2 years

	
Y


	
9

	
0.00

	
25092.08

	
0

	
0

	
Full

	
2 years

	
Y


	
10

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
11

	
0

	
5768.5

	
0

	
0

	
Full

	
2 years

	
Y


	
12

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
13

	
0.00

	
16864

	
0

	
0

	
Full

	
2 years

	
Y


	
14

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
15

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
16

	
0

	
9583.35

	
0

	
0

	
Full

	
2 years

	
Y


	
17

	
0.00

	
3500

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
18

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
19

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
20

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
21

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
22

	
0.00

	
8490

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
23

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
24

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
25

	
0.00

	
6875

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
26

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
27

	
21995.77

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
28

	
0.00

	
39914

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
29

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
30

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
31

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
32

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
33

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
34

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
35

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
36

	
0

	
0

	
0

	
0

	
Full

	
1 year

	
Y


	
37

	
0.00

	
20547

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
38

	
0

	  	  	  	
Full

	
2 years

	
Y


	
39

	
0.00

	
0

	
0.00

	
0.00

	
Full

	
1 year

	
Y


	
40

	
0

	  	  	  	
Full

	
2 years

	
Y


	
41

	
0.00

	
0

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
42

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
43

	
0.00

	
24871.58

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
44

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
45

	
0

	  	  	  	
Full

	
2 years

	
Y


	
46

	
3515

	
5000

	
0

	
0

	
Full

	
2 years

	
Y


	
47

	
0

	  	  	  	
Full

	
2 years

	
Y


	
48

	
0

	  	  	  	
Full

	
2 years

	
Y


	
49

	
0

	  	  	  	
Full

	
2 years

	
Y


	
50

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
51

	
0

	
10415.6

	
0

	
23860.71

	
Full

	
2 years

	
Y


	
52

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
53

	
0.00

	
35733.1

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
54

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
55

	
0

	  	  	  	
Full

	
2 years

	
Y


	
56

	
0

	  	  	  	
Full

	
2 years

	
Y


	
57

	
0

	
15417

	
0

	
0

	
Full

	
2 years

	
Y


	
58

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
59

	
0

	
9667

	
0

	
0

	
Full

	
2 years

	
Y


	
60

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
61

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
62

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
63

	
0.00

	
14650.24

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
64

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
65

	
0

	  	  	  	
Full

	
2 years

	
Y


	
66

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
67

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
68

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
69

	
0.00

	
0.00

	
12500.00

	
0.00

	
Full

	
2 years

	
Y


	
70

	
0

	
21133.34

	
5915

	
0

	
Full

	
2 years

	
Y


	
71

	
0.00

	
8366

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
72

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
73

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
74

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
75

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
76

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
77

	
0

	
57500

	
114925

	
0

	
Full

	
2 years

	
Y


	
78

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
79

	
0

	
666.67

	
0

	
0

	
Full

	
2 years

	
Y


	
80

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
81

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
82

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
83

	
0

	
11453.86

	
0

	
0

	
Full

	
2 years

	
Y


	
84

	
0.00

	
3815.42

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
85

	
0

	  	  	  	
Full

	
2 years

	
Y


	
86

	
0

	
10444

	
0

	
0

	
Full

	
2 years

	
Y


	
87

	
0

	  	  	  	
Full

	
2 years

	
Y


	
88

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
89

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
90

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
91

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
92

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
93

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
94

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
95

	
15067

	
43627.66

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
96

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
97

	
0

	  	  	  	
Full

	
2 years

	
Y


	
98

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
99

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
100

	
0

	  	  	  	
Full

	
2 years

	
Y


	
101

	
0.00

	
5240.75

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
102

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
103

	
0.00

	
-26260

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
104

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
105

	
0.00

	
0

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
106

	
0.00

	
0

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
107

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
108

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
109

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
110

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
111

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
112

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
113

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
114

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
115

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
116

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
117

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
118

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
119

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
120

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
121

	
0.00

	
1100

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
122

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
123

	
0.00

	
8375

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
124

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
125

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
126

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
127

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
128

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
129

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
130

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
131

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
132

	
0

	  	  	  	
Full

	
2 years

	
Y


	
133

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
134

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
135

	
0.00

	
13364

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
136

	
0

	
0

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
137

	
0

	
18333.33

	
0

	
0

	
Full

	
2 years

	
Y


	
138

	
0

	
0

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
139

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
140

	
0

	
19000

	
0

	
0

	
Full

	
2 years

	
Y


	
141

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
142

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
143

	
0

	
-7

	
0

	
0

	
Full

	
2 years

	
Y


	
144

	
23365.27

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
145

	
0

	
8083.34

	
1295.34

	
0

	
Full

	
2 years

	
Y


	
146

	
0

	
7089

	
0

	
0

	
Full

	
2 years

	
Y


	
147

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
148

	
0

	  	  	  	
Full

	
2 years

	
Y


	
149

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
150

	
0

	
15607

	
0

	
0

	
Full

	
2 years

	
Y


	
151

	
0

	
11559.66

	
0

	
0

	
Full

	
2 years

	
Y


	
152

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
153

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
154

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
155

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
156

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
157

	
0

	
19142.14

	
0

	
0

	
Full

	
2 years

	
Y


	
158

	
0

	
0

	
0

	
0

	
Full

	
1 year

	
Y


	
159

	
29875

	  	  	  	
Full

	
2 years

	
Y


	
160

	
0

	
17251

	
0

	
0

	
Full

	
2 years

	
Y


	
161

	
0

	
10750

	
0

	
0

	
Full

	
2 years

	
Y


	
162

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
163

	
0

	  	  	  	
Full

	
2 years

	
Y


	
164

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
165

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
166

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
167

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
168

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
169

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
170

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
171

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
172

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
173

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
174

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
175

	
0

	
19000

	
0

	
0

	
Full

	
2 years

	
Y


	
176

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
177

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
178

	
0

	
15417

	
0

	
0

	
Full

	
2 years

	
Y


	
179

	
0

	
33333

	
21142

	
0

	
Full

	
2 years

	
Y


	
180

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
181

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
182

	
0

	
17683

	
0

	
0

	
Full

	
2 years

	
Y


	
183

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
184

	
71602

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
185

	
0.00

	
17782.34

	
0

	
0

	
Full

	
2 years

	
Y


	
186

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
187

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
188

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
189

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
190

	
0

	
7008

	
0

	
0

	
Full

	
2 years

	
Y


	
191

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
192

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
193

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
194

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
195

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
196

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
197

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
198

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
199

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
200

	
0.00

	
5000

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
201

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
202

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
203

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
204

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
205

	
0.00

	
2790

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
206

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
207

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
208

	
0.00

	
38354

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
209

	
0.00

	
3025

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
210

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
211

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
212

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
213

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
214

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
215

	
0

	  	  	  	
Full

	
2 years

	
Y


	
216

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
217

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
218

	
0

	
8333

	
0

	
0

	
Full

	
2 years

	
Y


	
219

	
0

	
7750

	
0

	
0

	
Full

	
2 years

	
Y


	
220

	
0.00

	
7506

	
0

	
0

	
Full

	
2 years

	
Y


	
221

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
222

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
223

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
224

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
225

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
226

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
227

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
228

	
0.00

	
10350

	
0

	
0

	
Full

	
2 years

	
Y


	
229

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
230

	
8732

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
231

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
232

	
25447

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
233

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
234

	
61250

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
235

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
236

	
0

	
12780.46

	
0

	
0

	
Full

	
2 years

	
Y


	
237

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
238

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
239

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
240

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
241

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
242

	
0

	
16666.67

	
0

	
0

	
Full

	
2 years

	
Y


	
243

	
0

	  	  	  	
Full

	
2 years

	
Y


	
244

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
245

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
246

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
247

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
248

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
249

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
250

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
251

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
252

	
0

	
7174

	
0

	
0

	
Full

	
2 years

	
Y


	
253

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
254

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
255

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
256

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
257

	
0

	
37463.08

	
0

	
0

	
Full

	
2 years

	
Y


	
258

	
0

	  	  	  	
Full

	
2 years

	
Y


	
259

	
0

	
10567

	
0

	
0

	
Full

	
2 years

	
Y


	
260

	
0

	  	  	  	
Full

	
2 years

	
Y


	
261

	
0

	
7618

	
0

	
0

	
Full

	
2 years

	
Y


	
262

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
263

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
264

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
265

	
0

	  	  	  	
Full

	
2 years

	
Y


	
266

	
0

	
12038

	
0

	
0

	
Full

	
2 years

	
Y


	
267

	
28066

	
12610

	
0

	
0

	
Full

	
2 years

	
Y


	
268

	
0

	
0

	
0

	
0

	
Full

	
1 year

	
Y


	
269

	
0

	  	  	  	
Full

	
2 years

	
Y


	
270

	
0

	  	  	  	
Full

	
2 years

	
Y


	
271

	
0

	
13333.34

	
25165

	
0

	
Full

	
2 years

	
Y


	
272

	
51350

	  	  	  	
Full

	
2 years

	
Y


	
273

	
0

	  	  	  	
Full

	
2 years

	
Y


	
274

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
275

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
276

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
277

	
0

	  	  	  	
Full

	
2 years

	
Y


	
278

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
279

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
280

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
281

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
282

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
283

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
284

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
285

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
286

	
0

	
1863

	
0

	
0

	
Full

	
2 years

	
Y


	
287

	
0

	
1050

	
0

	
0

	
Full

	
2 years

	
Y


	
288

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
289

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
290

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
291

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
292

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
293

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
294

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
295

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
296

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
297

	
0

	
0

	
0

	
0

	
Full

	
2 years

	
Y


	
298

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
299

	
0.00

	  	  	  	
Full

	
2 years

	
Y


	
300

	
0.00

	
0.00

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
301

	
0.00

	
16552

	
0.00

	
0.00

	
Full

	
2 years

	
Y


	
302

	
0

	
19562

	
0.00

	
0.00

	
Full

	
2 years

	
Y







 


 
























  





  











  







ASF RMBS DISCLOSURE PACKAGE









The American Securitization Forum is a broad-based professional forum through which participants in the U.S. securitization market advocate their common interests on important legal, regulatory and market practice issues. ASF members include over 380 firms, including issuers, investors, servicers, financial intermediaries, rating agencies, financial guarantors, legal and accounting firms, and other professional organizations involved in securitization transactions. The ASF also provides information, education and training on a range of securitization market issues and topics through industry conferences, seminars and similar initiatives. For more information about ASF, its members and activities,
please go to www.americansecuritization.com.


 




	
Field Number

	
Field Name

	
Field Description

	
Type of Field

	
Data Type

	
Sample Data

	
Format

	
When Applicable?

	
Valid Values

	
Proposed Unique Coding

	
Notes


	
1

	
Primary Servicer

	
The MERS Organization ID of the company that has or will have the right to service the loan.

	
General Information

	
Numeric – Integer

	
2351805

	
9(7)

	
Always

	
”9999999” if Unknown

	  	  
	
2

	
Servicing Fee—Percentage

	
Aggregate monthly fee paid to all servicers, stated in decimal form.

	
General Information

	
Numeric - Decimal

	
0.0025

	
9.999999

	
Loans without flat-dollar servicing fees

	
>= 0 and < 1

	  	
Must be populated if Field 3 is Null


	
3

	
Servicing Fee—Flat-dollar

	
Aggregate monthly fee paid to all servicers, stated as a dollar amount.

	
General Information

	
Numeric – Decimal

	
7.5

	
9(3).99

	
Loans with flat-dollar servicing fees

	
>= 0 and



<= 999



	  	
Must be populated if 2 is Null


	
4

	
Servicing Advance Methodology

	
The manner in which principal and/or interest are to be advanced by the servicer.

	
General Information

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Scheduled Interest, Scheduled Principal



2 = Actual Interest, Actual Principal



3 = Scheduled Interest, Actual Principal



99 = Unknown







	  
	
5

	
Originator

	
The MERS Organization ID of the entity that lends funds to the borrower and, in return, places a lien on the mortgage property as collateral.

	
General Information

	
Numeric – Integer

	
5938671

	
9(7)

	
Always

	
”9999999” if Unknown

	  	  
	
6

	
Loan Group

	
Indicates the collateral group number in which the loan falls (for structures with multiple collateral groups). Use “1” if there is only one loan group.

	
General Information

	
Text

	
1A

	
XXXX

	
Always

	
“UNK” if Unknown

	  	  
	
7

	
Loan Number

	
Unique National Mortgage Loan ID Number (Vendor TBD).

	
General Information

	
Numeric – Integer

	
TBD

	
TBD

	
Always

	
TBD

	  	
Details to be provided by Vendor


	
8

	
Amortization Type

	
Indicates whether the loan’s interest rate is fixed or adjustable (Hybrid ARMs are adjustable).

	
Loan Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Fixed



2 = Adjustable



99 = Unknown





	  
	
9

	
Lien Position

	
A number indicating the loan’s lien position (1 = first lien, etc.).

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
>0

	
99 = Unknown

	  
	
10

	
HELOC Indicator

	
Indicates whether the loan is a home equity line of credit.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
11

	
Loan Purpose

	
Indicates the purpose of the loan.

	
Loan Type

	
Numeric – Integer

	
9

	
99

	
Always

	
See Coding

	
See Appendix A

	  
	
12

	
Cash Out Amount

	
For “Cash-out” loans (see Glossary):



[NEW LOAN AMOUNT] – [PAID-OFF FIRST MORTGAGE LOAN AMOUNT] – [PAID-OFF SECOND MORTGAGE LOAN AMOUNT (if Second was used to purchase the property)] – [CLOSING COSTS].



	
Loan Type

	
Numeric – Decimal

	
72476.5

	
9(10).99

	
Always

	
>= 0

	  	  
	
13

	
Total Origination and Discount Points (in dollars)

	
Amount paid to the lender to increase the lender’s effective yield and, in the case of discount points, to reduce the interest rate paid by the borrower.

	
Loan Type

	
Numeric – Decimal

	
5250

	
9(10).99

	
Always

	
>= 0

	  	
Typically Lines 801 and 802 of HUD Settlement Statement


	
14

	
Covered/High Cost Loan Indicator

	
Indicates whether the loan is categorized as “high cost” or “covered” according to state or federal statutes or regulations.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
15

	
Relocation Loan Indicator

	
Indicates whether the loan is part of a corporate relocation program.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
16

	
Broker Indicator

	
Indicates whether a broker took the application.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
17

	
Channel

	
Code indicating the source (channel) from which the Issuer obtained the mortgage loan.

	
Loan Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Retail



2 = Broker



3 = Correspondent Bulk



4 = Correspondent Flow with delegated underwriting





5 = Correspondent Flow without delegated underwriting



99 = Unknown









	  
	
18

	
Escrow Indicator

	
Indicates whether various homeownership expenses are paid by the borrower directly or through an escrow account (as of securitization cut-off date).

	
Loan Type

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
0 = No Escrows



1 = Taxes



2 = Insurance



3 = HOA dues



4 = Taxes and Insurance



5 = All



99 =Unknown













	  
	
19

	
Senior Loan Amount(s)

	
For non-first mortgages, the sum of the balances of all associated senior mortgages at the time of origination of the subordinate lien.

	
Mortgage Lien Info

	
Numeric – Decimal

	
611004.25

	
9(10).99

	
If Lien Position > 1

	
>= 0

	  	  
	
20

	
Loan Type of Most Senior Lien

	
For non-first mortgages, indicates whether the associated first mortgage is a Fixed, ARM, Hybrid, or negative amortization loan.

	
Mortgage Lien Info

	
Numeric – Integer

	
2

	
99

	
If Lien Position > 1

	
See Coding

	
1 = Fixed Rate



2 = ARM



3 = Hybrid



4 = Neg Am



99 = Unknown









	  
	
21

	
Hybrid Period of Most Senior Lien (in months)

	
For non-first mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest rate period for the hybrid first mortgage.

	
Mortgage Lien Info

	
Numeric – Integer

	
23

	
999

	
If Lien Position > 1


AND the most senior lien is a hybrid ARM (see Field 20)

	
>= 0

	  	  
	
22

	
Neg Am Limit of Most Senior Lien

	
For non-first mortgages where the associated first mortgage features negative amortization, the maximum percentage by which the negatively amortizing balance may increase (expressed as a proportion of the senior lien’s original balance).

	
Mortgage Lien Info

	
Numeric – Decimal

	
1.25

	
9.999999

	
If Lien Position > 1



AND the senior lien is Neg Am (see Field 20)



	
>= 1 and <= 2

	  	  
	
23

	
Junior Mortgage Balance

	
For first mortgages with subordinate liens at the time of origination, the combined balance of the subordinate liens (if known).

	
Mortgage Lien Info

	
Numeric – Decimal

	
51775.12

	
9(10).99

	
If Lien Position = 1 and there is a 2nd lien on the subject property

	
>= 0

	  	
Subject to Regulatory Confirmation


	
24

	
Origination Date of Most Senior Lien

	
For non-first mortgages, the origination date of the associated first mortgage.

	
Mortgage Lien Info

	
Date

	
20090914

	
YYYYMMDD

	
If Lien Position > 1 and there is a 2nd lien on the subject property

	
“19010101” if unknown

	  	  
	
25

	
Origination Date

	
The date of the Mortgage Note and Mortgage/Deed of Trust

	
Loan Term and Amortization Type

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
26

	
Original Loan Amount

	
The dollar amount of the mortgage loan, as specified on the mortgage note at the time of the loan’s origination. For HELOCs, the maximum available line of credit.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
150000

	
9(10).99

	
Always

	
>0

	  	  
	
27

	
Original Interest Rate

	
The original note rate as indicated on the mortgage note.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
0.0475

	
9.999999

	
Always

	
> 0 and <= 1

	  	  
	
28

	
Original Amortization Term

	
The number of months in which the loan would be retired if the amortizing principal and interest payment were to be paid each month.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
360

	
999

	
Always

	
>= 60

	  	  
	
29

	
Original Term to Maturity

	
The initial number of months between loan origination and the loan maturity date, as specified on the mortgage note.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
60

	
999

	
Always

	
>0

	
N/A

	  
	
30

	
First Payment Date of Loan

	
The date of the first scheduled mortgage payment to be made by the borrower as specified on the mortgage note.

	
Loan Term and Amortization Type

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	
N/A

	  
	
31

	
Interest Type Indicator

	
Indicates whether the interest rate calculation method is simple or actuarial.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1= Simple



2 = Actuarial





99 = Unknown



	  
	
32

	
Original Interest Only Term

	
Original interest-only term for a loan in months (including NegAm Loans).

	
Loan Term and Amortization Type

	
Numeric – Integer

	
60

	
999

	
Always

	
>= 0 and <= 240



Unknown = Blank;





No Interest Only Term = 0



	  	  
	
33

	
Buy Down Period

	
The total number of months during which any buy down is in effect, representing the accumulation of all buy down periods.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
65

	
999

	
Always

	
>= 0 and <= 100



Unknown = Blank;





No Buy Down = 0



	  	  
	
34

	
HELOC Draw Period

	
The original number of months during which the borrower may draw funds against the HELOC account.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
24

	
999

	
HELOCs Only

	
>= 12 and <= 120

	  	  
	
35

	
Current Loan Amount

	
Mortgage loan outstanding principal balance as of cut-off date. For HELOCs, the current drawn amount.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
248951.19

	
9(10).99

	
Always

	
>= 0

	  	  
	
36

	
Current Interest Rate

	
The interest rate used to calculate the current P&I or I/O payment.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
0.05875

	
9.999999

	
Always

	
> 0 and <= 1

	  	  
	
37

	
Current Payment Amount Due

	
Next Total Payment due to be collected (including principal, interest or both—but Exclude Escrow Amounts).

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
1250.15

	
9(10).99

	
Always

	
> 0

	  	  
	
38

	
Interest Paid Through Date

	
The date through which interest is paid with the current payment, which is the effective date from which interest will be calculated for the application of the next payment.

	
Loan Term and Amortization Type

	
Date

	
20090429

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
39

	
Current Payment Status

	
Number of payments the borrower is past due as of the securitization cut-off date.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
3

	
99

	
Always

	
>= 0

	  	  
	
40

	
Index Type

	
Specifies the type of index to be used to determine the interest rate at each adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
18

	
99

	
ARMs Only

	
See Coding

	
See Appendix B

	  
	
41

	
ARM Look-back Days

	
The number of days prior to the interest rate adjustment date to retrieve the index value.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
45

	
99

	
ARMs Only

	
>= 0 to <=99

	  	  
	
42

	
Gross Margin

	
The percentage stated on the mortgage note representing the spread between the ARM Index value and the mortgage interest rate. The gross mortgage margin is added to the index value to establish a new gross interest rate in the manner prescribed on the mortgage note.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.03

	
9.999999

	
ARMs Only

	
>0 and <= 1

	  	  
	
43

	
ARM Round Flag

	
An indicator of whether an adjusted interest rate is rounded to the next higher ARM round factor, to the next lower round factor, or to the nearest round factor.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
3

	
9

	
ARMs Only

	
See Coding

	
0 = No Rounding



1 = Up





2 = Down





3 = Nearest





99=Unknown



	  
	
44

	
ARM Round Factor

	
The percentage to which an adjusted interest rate is to be rounded.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.0025 or 0.00125

	
9.999999

	
ARMs Only



Where ARM Round Flag = 1, 2, or 3



	
>= 0 and < 1

	  	  
	
45

	
Initial Fixed Rate Period

	
For hybrid ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
60

	
999

	
Hybrid ARMs Only

	
>= 1 to <=240

	  	  
	
46

	
Initial Interest Rate Cap (Change Up)

	
The maximum percentage by which the mortgage note rate may increase at the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	  
	
47

	
Initial Interest Rate  Cap (Change Down)

	
The maximum percentage by which the mortgage note rate may decrease at the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	  
	
48

	
Subsequent Interest Rate Reset Period

	
The number of months between subsequent rate adjustments.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
60

	
999

	
ARMs Only

	
>=0 and <= 120

	  	
0 = Loan does not adjust after initial reset


	
49

	
Subsequent Interest Rate (Change Down)

	
The maximum percentage by which the interest rate may decrease at each rate adjustment date after the initial adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	  
	
50

	
Subsequent Interest Rate Cap (Change Up)

	
The maximum percentage by which the interest rate may increase at each rate adjustment date after the initial adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	  
	
51

	
Lifetime Maximum Rate (Ceiling)

	
The maximum interest rate that can be in effect during the life of the loan.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.125

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	
=1 if no ceiling specified


	
52

	
Lifetime Minimum Rate (Floor)

	
The minimum interest rate that can be in effect during the life of the loan.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.015

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	
If no floor is specified enter the greater of the margin or 0.


	
53

	
Negative Amortization Limit

	
The maximum amount of negative amortization allowed before recast is required. (Expressed as a percentage of the original unpaid principal balance.)

	
Negative Amortization

	
Numeric – Decimal

	
1.25

	
9.999999

	
Negatively Amortizing ARMs Only

	
>=0, and <2

	  	  
	
54

	
Initial Negative Amortization Recast Period

	
The number of months in which the payment is required to recast if the loan does not reach the prescribed maximum balance earlier.

	
Negative Amortization

	
Numeric – Integer

	
60

	
999

	
Negatively Amortizing ARMs Only

	
>=0

	  	  
	
55

	
Subsequent Negative Amortization Recast Period

	
The number of months after which the payment is required to recast AFTER the first recast period.

	
Negative Amortization

	
Numeric – Integer

	
48

	
999

	
Negatively Amortizing ARMs Only

	
>=0

	  	  
	
56

	
Initial Fixed Payment Period

	
Number of months after origination during which the payment is fixed.

	
Negative Amortization

	
Numeric – Integer

	
60

	
999

	
Negatively Amortizing Hybrid ARMs Only

	
>= 0 to <=120

	  	  
	
57

	
Subsequent Payment Reset Period

	
Number of months between payment adjustments after first payment reset.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
58

	
Initial Periodic Payment Cap

	
The maximum percentage by which a payment can change (increase or decrease) in the first period.

	
Negative Amortization

	
Numeric – Decimal

	
0.075

	
9.999999

	
Negatively Amortizing ARMs Only

	
>= 0 and < 1

	  	  
	
59

	
Subsequent Periodic Payment Cap

	
The maximum percentage by which a payment can change (increase or decrease) in one period after the initial cap.

	
Negative Amortization

	
Numeric – Decimal

	
0.075

	
9.999999

	
Negatively Amortizing ARMs Only

	
>= 0 and < 1

	  	  
	
60

	
Initial Minimum Payment Reset Period

	
The maximum number of months a borrower can initially pay the minimum payment before a new minimum payment is determined.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
61

	
Subsequent Minimum Payment Reset Period

	
The maximum number of months (after the initial period) a borrower can pay the minimum payment before a new minimum payment is determined after the initial period.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
62

	
Option ARM Indicator

	
An indicator of whether the loan is an Option ARM.

	
Negative Amortization

	
Numeric – Integer

	
1

	
99

	
ARMs Only

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
63

	
Options at Recast

	
The means of computing the lowest monthly payment available to the borrower after recast.

	
Option ARM

	
Numeric – Integer

	
2

	
99

	
Option ARMs Only

	
N/A

	
1= Fully amortizing 30 year



2= Fully amortizing 15 year



3=Fully amortizing 40 year



4 = Interest-Only





5 = Minimum Payment





99= Unknown







	  
	
64

	
Initial Minimum Payment

	
The initial minimum payment the borrower is permitted to make.

	
Option ARM

	
Numeric – Decimal

	
879.52

	
99

	
Option ARMs Only

	
>=0

	  	  
	
65

	
Current Minimum Payment

	
Current Minimum Payment (in dollars).

	
Negative Amortization

	
Numeric – Decimal

	
250

	
9(10).99

	
Option ARMs Only

	
>= 0

	  	  
	
66

	
Prepayment Penalty Calculation

	
A description of how the prepayment penalty would be calculated during each phase of the prepayment penalty term.

	
Prepayment Penalties

	
Numeric – Integer

	
12

	
99

	
Always

	
See Coding

	
See Appendix C

	  
	
67

	
Prepayment Penalty Type

	
• Hard: The prepayment penalty is incurred regardless of the reason the loan is prepaid in full.



• Hybrid: The prepayment penalty can be characterized as hard for a certain amount of time and as soft during another period.



	
Prepayment Penalties

	
Numeric – Integer

	
1

	
99

	
All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)

	
See Coding

	
1 = Hard



2 = Soft





3 = Hybrid





99 = Unknown



	  
	
68

	
Prepayment Penalty Total Term

	
The total number of months that the prepayment penalty may be in effect.

	
Prepayment Penalties

	
Numeric – Integer

	
60

	
999

	
All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)

	
>0 to <=120

	  	  
	
69

	
Prepayment Penalty Hard Term

	
For hybrid prepayment penalties, the number of months during which a “hard” prepayment penalty applies.

	
Prepayment Penalties

	
Numeric – Integer

	
12

	
999

	
Loans with Hybrid Prepayment Penalties (i.e., loans for which Field 67 = “3”)

	
>= 0 to <=120

	  	  
	
70

	
Primary Borrower ID

	
A lender-generated ID number for the primary borrower on the mortgage

	
Borrower

	
Numeric—Integer

	
123456789

	
999999999

	
Always

	
>0

	  	
Used to identify the number of times a single borrower appears in a given deal.


	
71

	
Number of Mortgaged Properties

	
The number of properties owned by the borrower that currently secure mortgage loans.

	
Borrower

	
Numeric – Integer

	
1

	
99

	
Always

	
> 0

	  	  
	
72

	
Total Number of Borrowers

	
The number of Borrowers who are obligated to repay the mortgage note.

	
Borrower

	
Numeric – Integers

	
2

	
99

	
Always

	
> 0

	  	  
	
73

	
Self-employment Flag

	
An indicator of whether the primary borrower is self-employed.

	
Borrower

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes



99 = Unknown





	  
	
74

	
Current ‘Other’ Monthly Payment

	
The aggregate of all payments pertaining to the subject property other than principal and interest (includes common charges, condo fees, T&I, HOA, etc.), whether escrowed or not.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
1789.25

	
9(10).99

	
Always

	
> 0

	  	  
	
75

	
Length of Employment: Borrower

	
The number of years of service with the borrower’s current employer as of the date of the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
3.5

	
99.99

	
Always

	
>=0

	  	  
	
76

	
Length of Employment: Co-Borrower

	
The number of years of service with the co-borrower’s current employer as of the date of the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
3.5

	
99.99

	
If “Total Number of Borrowers” > 1

	
>= 0

	  	  
	
77

	
Years in Home

	
Length of time that the borrower has been at current address.

	
Borrower Qualification

	
Numeric – Decimal

	
14.5

	
99.99

	
Refinances of Primary Residences Only (Loan Purpose = 1, 2, 3, 4, 8 or 9)

	
> 0

	  	  
	
78

	
FICO Model Used

	
Indicates whether the FICO score was calculated using the Classic, Classic 08, or Next Generation model.

	
Borrower Qualification

	
Numeric – Integer

	
1

	
99

	
If a FICO score was obtained

	
See Coding

	
1 = Classic



2 = Classic 08





3 = Next Generation





99 = Unknown



	  
	
79

	
Most Recent FICO Date

	
Specifies the date on which the most recent FICO score was obtained

	
Borrower Qualification

	
Date

	
20090914

	
YYYYMMDD

	
If a FICO score was obtained

	
“19010101” if unknown

	  	
Issuers unable to Provide may Rep and Warrant that the FICO score used for underwriting was not more than 4 months old at the date of issuance.


	
80

	
Primary Wage Earner Original FICO:  Equifax

	
Equifax FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
81

	
Primary Wage Earner Original FICO:  Experian

	
Experian FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
82

	
Primary Wage Earner Original FICO:  TransUnion

	
TransUnion FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
83

	
Secondary Wage Earner Original FICO:  Equifax

	
Equifax FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
84

	
Secondary Wage Earner Original FICO:  Experian

	
Experian FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
85

	
Secondary Wage Earner Original FICO: TransUnion

	
TransUnion FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
86

	
Most Recent Primary Borrower FICO

	
Most Recent Primary Borrower FICO score used by the lender to approve the loan.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
87

	
Most Recent Co-Borrower FICO

	
Most Recent Co-Borrower FICO score used by the lender to approve the loan.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
88

	
Most Recent FICO Method

	
Number of credit repositories used to update the FICO Score.

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If a FICO score was obtained

	
>0

	  	  
	
89

	
VantageScore: Primary Borrower

	
Credit Score for the Primary Borrower used to approve the loan and obtained using the Vantage credit evaluation model.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a Vantage Credit Score was obtained

	
>= 501 and <= 990

	  	  
	
90

	
VantageScore: Co-Borrower

	
Credit Score for the Co-borrower used to approve the loan and obtained using the Vantage credit evaluation model.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a VantageScore was obtained AND “Total Number of Borrowers” > 1

	
>= 501 and <= 990

	  	  
	
91

	
Most Recent VantageScore Method

	
Number of credit repositories used to update the Vantage Score.

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If a Vantage Credit Score was obtained

	
>0

	  	  
	
92

	
VantageScore Date

	
Date Vantage Credit Score was obtained.

	
Borrower Qualification

	
Date

	
20090914

	
YYYYMMDD

	
If a Vantage Credit Score was obtained

	
“19010101” if unknown

	  	  
	
93

	
Credit Report: Longest Trade Line

	
The length of time in months that the oldest active trade line, installment or revolving, has been outstanding. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Integer

	
999

	
999

	
Always

	
> =0

	  	
Subject to Regulatory Confirmation


	
94

	
Credit Report: Maximum Trade Line

	
The dollar amount for the trade line, installment or revolving, with the largest unpaid balance. For revolving lines of credit, e.g. credit card, the dollar amount reported should reflect the maximum amount of credit available under the credit line whether used or not. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Decimal

	
339420.19

	
9(10).99

	
Always

	
>=0

	  	
Subject to Regulatory Confirmation


	
95

	
Credit Report: Number of Trade Lines

	
A count of non-derogatory, currently open and active, consumer trade lines (installment or revolving) for the borrower. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Integer

	
57

	
999

	
Always

	
>=0

	  	
Subject to Regulatory Confirmation


	
96

	
Credit Line Usage Ratio

	
Sum of credit balances divided by sum of total open credit available.

	
Borrower Qualification

	
Numeric – Decimal

	
0.27

	
9.999999

	
Always

	
>= 0 and <= 1

	  	
Subject to Regulatory Confirmation


	
97

	
Most Recent 12-month Pay History

	
String indicating the payment status per month listed from oldest to most recent.

	
Borrower Qualification

	
Text

	
77X123200001

	
X(12)

	
Always

	
See Coding

	
0 = Current



1 = 30-59 days delinquent



2 = 60-89 days delinquent



3 = 90-119 days delinquent





4 = 120+ days delinquent





5 = Foreclosure



6 = REO







7 = Loan did not exist in period



X = Unavailable









	  
	
98

	
Months Bankruptcy

	
Number of months since any borrower was discharged from bankruptcy. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program—have passed since most recent discharge from bankruptcy.)

	
Borrower Qualification

	
Numeric – Integer

	
12

	
999

	
If Borrower has ever been in Bankruptcy

	
>= 0

	  	
Blank = Borrower is not known to have been in bankruptcy


	
99

	
Months Foreclosure

	
Number of months since foreclosure sale date. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program— have passed since most recent foreclosure.)

	
Borrower Qualification

	
Numeric – Integer

	
12

	
999

	
If Borrower has ever been in Foreclosure

	
>= 0

	  	
Blank = Borrower is not known to have been in foreclosure


	
100

	
Primary Borrower Wage Income

	
Monthly base wage income for primary borrower.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
101

	
Co-Borrower Wage Income

	
Monthly base wage income for all other borrowers.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
If “Total Number of Borrowers” > 1

	
>= 0

	  	  
	
102

	
Primary Borrower Other Income

	
Monthly Other (non-wage) income for primary borrower. (This figure should include net rental income and be reduced by any net rental loss.)

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
103

	
Co-Borrower Other Income

	
Monthly Other (non-wage) income for all other borrowers. (This figure should include net rental income and be reduced by any net rental loss.)

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
If “Total Number of Borrowers” > 1

	
>= 0

	  	  
	
104

	
All Borrower Wage Income

	
Monthly income of all borrowers derived from base salary only.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
105

	
All Borrower Total Income

	
Monthly income of all borrowers derived from base salary, commission, tips and gratuities, overtime and bonuses, part-time or second-job earnings, alimony, child support, interest and dividend income, notes receivable, trust income, net rental income, retirement income, social security, veterans income, military income, foster care income, and self-employed income.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
106

	
4506-T Indicator

	
A yes/no indicator of whether a Transcript of Tax Return (received pursuant to the filing of IRS Form 4506-T) was obtained and considered.

	
Borrower Qualification

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No



1 = Yes





99 = Unknown



	  
	
107

	
Borrower Income Verification Level

	
A code indicating the extent to which the borrower’s income has been verified:



Level 4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)



Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)





	
Borrower Qualification

	
Numeric – Integer

	
1

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, “Partially” Verified





4 = Stated, “Level 4” Verified  (as defined)





5 = Stated, “Level 5” Verified  (as defined)



	  
	
108

	
Co-Borrower Income Verification

	
A code indicating the extent to which the co-borrower’s income has been verified:



Level 4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)



Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)





	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, “Partially” Verified





4 = Stated, “Level 4” Verified  (as defined)


5 = Stated, “Level 5” Verified  (as defined)



	  
	
109

	
Borrower Employment Verification

	
A code indicating the extent to which the primary borrower’s employment has been verified:



Level 3 Verified = Direct Independent Verification with a third party of the borrower’s current employment.



	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, Level 3 Verified (as defined)



	  
	
110

	
Co-Borrower Employment Verification

	
A code indicating the extent to which the co-borrower’s employment has been verified:



Level 3 Verified = Direct Independent Verification with a third party of the co-borrower’s current employment.



	
Borrower Qualification

	
Numeric – Integer

	
1

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, Level 3 Verified (as defined)



	  
	
111

	
Borrower Asset Verification

	
A code indicating the extent to which the primary borrower’s assets used to qualify the loan have been verified:



Level 4 Verified = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).



	
Borrower Qualification

	
Numeric – Integer

	
3

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, “Partially” Verified





4 = Stated, Level 4 Verified  (as defined)



	  
	
112

	
Co-Borrower Asset Verification

	
A code indicating the extent to which the co-borrower’s assets used to qualify the loan have been verified:



Level 4 = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).



	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified



2 = Stated, Not Verified





3 = Stated, “Partially” Verified





4 = Stated, Level 4 Verified  (as defined)



	  
	
113

	
Liquid / Cash Reserves

	
The actual dollar amount of remaining verified liquid assets after settlement. (This should not include cash out amount of subject loan.)

	
Borrower Qualification

	
Numeric – Decimal

	
3242.76

	
9(9).99

	
Always

	
>= 0

	  	  
	
114

	
Monthly Debt All Borrowers

	
The aggregate monthly payment due on other debt (excluding only installment loans with fewer than 10 payments remaining and other real estate loans used to compute net rental income-- which is added/subtracted in the income fields).

	
Borrower Qualification

	
Numeric – Decimal

	
3472.43

	
9(9).99

	
Always

	
>= 0

	  	  
	
115

	
Originator DTI

	
Total Debt to income ratio used by the originator to qualify the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
0.35

	
9.999999

	
Always

	
>= 0 and >= 1

	  	  
	
116

	
Fully Indexed Rate

	
The fully indexed interest rate as of securitization cut-off.

	
Borrower Qualification

	
Numeric – Decimal

	
0.0975

	
9.999999

	
ARMs Only

	
>= 0 and >= 1

	  	  
	
117

	
Qualification Method

	
Type of mortgage payment used to qualify the borrower for the loan.

	
Borrower Qualification

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
1 = Start Rate



2 = First Year Cap Rate



3 = I/O Amount





4 = Fully Indexed





5 = Min Payment



98 = Other







99 = Unknown





	  
	
118

	
Percentage of Down Payment from Borrower Own Funds

	
Include only borrower funds, do not include any gift or borrowed funds. (Issuers may provide the actual percentage for each loan, or the guideline percentage and note departure concentration on the transaction summary.)

	
Borrower Qualification

	
Numeric – Decimal

	
0.5

	
9.999999

	
Purchase Loans Only

	
>= 0 and >= 1

	  	  
	
119

	
City

	
The name of the city.

	
Subject Property

	
Text

	
New York

	
X(45)

	
Always

	
Unk=Unknown

	  	  
	
120

	
State

	
The name of the state as a 2-digit Abbreviation.

	
Subject Property

	
Text

	
NY

	
XX

	
Always

	
See Coding

	
See Appendix H

	  
	
121

	
Postal Code

	
The postal code (zip code in the US) where the subject property is located.

	
Subject Property

	
Text

	
10022

	
X(5)

	
Always

	
Unk=Unknown

	  	  
	
122

	
Property Type

	
Specifies the type of property being used to secure the loan.

	
Subject Property

	
Numeric – Integer

	
11

	
99

	
Always

	
See Coding

	
See Appendix D

	  
	
123

	
Occupancy

	
Specifies the property occupancy status (e.g., owner-occupied, investment property, second home, etc.).

	
Subject Property

	
Numeric – Integer

	
4

	
9

	
Always

	
See Coding

	
See Appendix E

	  
	
124

	
Sales Price

	
The negotiated price of a given property between the buyer and seller.

	
Subject Property

	
Numeric – Decimal

	
450000.23

	
9(10).99

	
Purchase Loans Only

	
> 0

	  	  
	
125

	
Original Appraised Property Value

	
The appraised value of the property used to approve the loan.

	
Subject Property

	
Numeric – Decimal

	
550000.23

	
9(10).99

	
Always

	
> 0

	  	  
	
126

	
Original Property Valuation Type

	
Specifies the method by which the property value (at the time of underwriting) was reported.

	
Subject Property

	
Numeric – Integer

	
8

	
99

	
Always

	
See Coding

	
See Appendix F

	  
	
127

	
Original Property Valuation Date

	
Specifies the date on which the original property value (at the time of underwriting) was reported. (Issuers unable to provide may Rep and Warrant that the appraisal used for underwriting was not more than x days old at time of loan closing.)

	
Subject Property

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
128

	
Original Automated Valuation Model (AVM) Model Name

	
The name of the AVM Vendor if an AVM was used to determine the original property valuation.

	
Subject Property

	
Numeric – Integer

	
1

	
99

	
Always

	
See Appendix I

	
See Appendix I

	  
	
129

	
Original AVM Confidence Score

	
The confidence range presented on the AVM report.

	
Subject Property

	
Numeric – Decimal

	
0.74

	
9.999999

	
If AVM Model Name (Field 127) > 0

	
>= 0 to <= 1

	  	  
	
130

	
Most Recent Property Value[1]

	
If a valuation was obtained subsequent to the valuation used to calculate LTV, the most recent property value.

	
Subject Property

	
Numeric – Decimal

	
500000

	
9(10).99

	
If updated value was obtained subsequent to loan approval

	
> 0

	  	  
	
131

	
Most Recent Property Valuation Type

	
If an additional property valuation was obtained after the valuation used for underwriting purposes, the method by which the property value was reported.

	
Subject Property

	
Numeric – Integer

	
6

	
9

	
If updated value was obtained subsequent to loan approval

	
See Coding

	
See Appendix F

	  
	
132

	
Most Recent Property Valuation Date

	
Specifies the date on which the updated property value was reported.

	
Subject Property

	
Date

	
20090914

	
YYYYMMDD

	
If updated value was obtained subsequent to loan approval

	
“19010101” if unknown

	  	  
	
133

	
Most Recent AVM Model Name

	
The name of the AVM Vendor if an AVM was used to determine the updated property valuation.

	
Subject Property

	
Numeric – Integer

	
19

	
99

	
If updated value was obtained subsequent to loan approval

	
See Coding

	
See Appendix I

	  
	
134

	
Most Recent AVM Confidence Score

	
If AVM used to determine the updated property valuation, the confidence range presented on the AVM report.

	
Subject Property

	
Numeric – Decimal

	
0.85

	
9.999999

	
If “Most Recent AVM Model Name” > 0

	
>= 0 to <= 1

	  	  
	
135

	
Original CLTV

	
The ratio obtained by dividing the amount of all known outstanding mortgage liens on a property at origination by the lesser of the appraised value or the sales price.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
0.96

	
9.999999

	
Always

	
>= 0 and <= 1.5

	  	  
	
136

	
Original LTV

	
The ratio obtained by dividing the original mortgage loan amount on the note date by the lesser of the mortgaged property’s appraised value on the note date or its purchase price.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
0.8

	
9.999999

	
Always

	
>= 0 and <= 1.25

	  	  
	
137

	
Original Pledged Assets

	
The total value of assets pledged as collateral for the loan at the time of origination. Pledged assets may include cash or marketable securities.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
75000

	
9(10).99

	
Always

	
>=0

	  	  
	
138

	
Mortgage Insurance Company Name

	
The name of the entity providing mortgage insurance for a loan.

	
Mortgage Insurance

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
See Appendix G

	  
	
139

	
Mortgage Insurance Percent

	
Mortgage Insurance coverage percentage.

	
Mortgage Insurance

	
Numeric – Decimal

	
0.25

	
9.999999

	
“Mortgage Insurance Company Name” > 0

	
>= 0 to <= 1

	  	  
	
140

	
MI: Lender or Borrower Paid?

	
An indicator of whether mortgage insurance is paid by the borrower or the lender.

	
Mortgage Insurance

	
Numeric – Integer

	
1

	
99

	
“Mortgage Insurance Company Name” > 0

	
See Coding

	
1 = Borrower-Paid



2 = Lender- Paid



99 = Unknown





	  
	
141

	
Pool Insurance Co. Name

	
Name of pool insurance provider.

	
Mortgage Insurance

	
Numeric – Integer

	
8

	
99

	
Always

	
See Coding

	
See Appendix G

	  
	
142

	
Pool Insurance Stop Loss %

	
The aggregate amount that a pool insurer will pay, calculated as a percentage of the pool balance.

	
Mortgage Insurance

	
Numeric – Decimal

	
0.25

	
9.999999

	
Pool MI Company > 0

	
>= 0 to <= 1

	  	  
	
143

	
MI Certificate Number

	
The unique number assigned to each individual loan insured under an MI policy.

	
Mortgage Insurance

	
Text

	
123456789G

	
X(20)

	
MI Company

	
UNK = Unknown

	  	  
	
144

	
Updated DTI


 


 


 



(Front-end)



	
Updated front-end DTI ratio (total monthly housing expense divided by total monthly income) used to qualify the loan modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.35

	
9.999999

	
Modified Loans Only

	
>= 0 and >= 1

	  	  
	
145

	
Updated DTI


 


 


 



(Back-end)



	
Updated back-end DTI ratio (total monthly debt expense divided by total monthly income) used to qualify the loan modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.35

	
9.999999

	
Modified Loans Only

	
>= 0 and >= 1

	  	  
	
146

	
Modification Effective Payment Date

	
Date of first payment due post modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Date

	
20090914

	
YYYYMMDD

	
Modified Loans Only

	
“19010101” if unknown

	  	  
	
147

	
Total Capitalized Amount

	
Amount added to the principal balance of a loan due to the modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
148

	
Total Deferred Amount

	
Any non-interest-bearing deferred amount (e.g., principal, interest and fees).

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
149

	
Pre-Modification Interest (Note) Rate

	
Scheduled Interest Rate Of The Loan Immediately Preceding The Modification Effective Payment Date.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.075

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
150

	
Pre-Modification P&I Payment

	
Scheduled Total Principal And Interest Payment Amount Preceding The Modification Effective Payment Date – or if servicer is no longer advancing P&I, the payment that would be in effect if the loan were current.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
2310.57

	
9(10).99

	
Modified Loans Only

	
> 0

	  	  
	
151

	
Pre-Modification Initial Interest Rate Change Downward Cap

	
Maximum amount the rate can adjust downward on the first interest rate adjustment date (prior to modification) – Only provide if the rate floor is modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.015

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
152

	
Pre-Modification Subsequent Interest Rate Cap

	
Maximum increment the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.015

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
153

	
Pre-Modification Next Interest Rate Change Date

	
Next Interest Reset Date Under The Original Terms Of The Loan (one month prior to new payment due date).

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Date

	
20090914

	
YYYYMMDD

	
Modified Loans Only

	
“19010101” if unknown

	  	  
	
154

	
Pre-Modification I/O Term

	
Interest Only Term (in months) preceding The Modification Effective Payment Date.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Integer

	
36

	
999

	
Modified Loans Only

	
>= 0 to <= 120

	  	  
	
155

	
Forgiven Principal Amount

	
The sum total of all principal balance reductions (as a result of loan modification) over the life of the loan.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
156

	
Forgiven Interest Amount

	
The sum total of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
157

	
Number of Modifications

	
The number of times the loan has been modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Integer

	
1

	
9

	
Modified Loans Only

	
>= 0

	  	  
	
MH-1

	
Real Estate Interest

	
Indicates whether the property on which the manufactured home is situated is owned outright or subject to the terms of a short- or long-term lease. (A long-term lease is defined as a lease whose term is greater than or equal to the loan term.)

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Coding

	
1 = Owned



2 = Short-term lease





3 = Long-term lease





99 = Unavailable



	  
	
MH-2

	
Community Ownership Structure

	
If the manufactured home is situated in a community, a means of classifying ownership of the community.

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Coding

	
1 = Public Institutional



2 = Public Non-Institutional





3 = Private Institutional



4 = Private Non-Institutional





5 = HOA-Owned





6 = Non-Community





99 = Unavailable





	  
	
MH-3

	
Year of Manufacture

	
The year in which the home was manufactured (Model Year -- YYYY Format). Required only in cases where a full appraisal is not provided.

	
Manufactured Housing

	
Numeric – Integer

	
2006

	
YYYY

	
Manufactured Housing Loans Only

	
1901 = Unavailable

	  	  
	
MH-4

	
HUD Code Compliance  Indicator (Y/N)

	
Indicates whether the home was constructed in accordance with the 1976 HUD code. In general, homes manufactured after 1976 comply with this code.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
9

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No



1 = Yes





99 = Unavailable



	  
	
MH-5

	
Gross Manufacturer’s Invoice Price

	
The total amount that appears on the manufacturer’s invoice (typically includes intangible costs such as transportation, association, on-site setup, service and warranty costs, taxes, dealer incentives, and other fees).

	
Manufactured Housing

	
Numeric – Decimal

	
72570.62

	
9(10).99

	
Manufactured Housing Loans Only

	
>= 0

	  	  
	
MH-6

	
LTI (Loan-to-Invoice) Gross

	
The ratio of the loan amount divided by the Gross Manufacturer’s Invoice Price (Field MH-5).

	
Manufactured Housing

	
Numeric – Decimal

	
0.75

	
9.999999

	
Manufactured Housing Loans Only

	
>= 0 to <= 1

	  	  
	
MH-7

	
Net Manufacturer’s Invoice Price

	
The Gross Manufacturer’s Invoice Price (Field MH-5) minus intangible costs, including: transportation, association, on-site setup, service, and warranty costs, taxes, dealer incentives, and other fees.

	
Manufactured Housing

	
Numeric – Decimal

	
61570.62

	
9(10).99

	
Manufactured Housing Loans Only

	
>= 0

	  	  
	
MH-8

	
LTI (Net)

	
The ratio of the loan amount divided by the Net Manufacturer’s Invoice Price (Field MH-7).

	
Manufactured Housing

	
Numeric – Decimal

	
0.62

	
9.999999

	
Manufactured Housing Loans Only

	
>= 0 to <= 1

	  	  
	
MH-9

	
Manufacturer Name

	
The manufacturer of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is available.)

	
Manufactured Housing

	
Text

	
“XYZ Corp”

	
Char (100)

	
Manufactured Housing Loans Only (where no appraised value is provided)

	
MH Manufacturer name in double quotation marks

	  	  
	
MH-10

	
Model Name

	
The model name of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is available.)

	
Manufactured Housing

	
Text

	
“DX5-916-X”

	
Char (100)

	
Manufactured Housing Loans Only (where no appraised value is provided)

	
MH Model name in double quotation marks

	  	  
	
MH-11

	
Down Payment Source

	
An indicator of the source of the down payment used by the borrower to acquire the property and qualify for the mortgage.

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
1 = Cash



2 = Proceeds from trade in





3 = Land in Lieu





4 = Other



99 = Unavailable





	  
	
MH-12

	
Community/Related Party Lender (Y/N)

	
An indicator of whether the loan was made by the community owner, an affiliate of the community owner or the owner of the real estate upon which the collateral is located.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No



1 = Yes





99 = Unavailable



	  
	
MH-13

	
Defined Underwriting Criteria (Y/N)

	
An indicator of whether the loan was made in accordance with a defined and/or standardized set of underwriting criteria.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No



1 = Yes



99 = Unavailable





	  
	
MH-14

	
Chattel Indicator

	
An Indicator of whether the secured property is classified as chattel or Real Estate.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = Real Estate


1 = Chattel


99 = Unavailable

	  







 








 




  





Schedule A-1