Initial Subservicing Supplement



 Exhibit 10.4 

 
  

 
 SUBSERVICING SUPPLEMENT

 dated as of February 10, 2012 
 between 
 OCWEN LOAN SERVICING, LLC 

and 

HLSS HOLDINGS, LLC 
  

 
  







 CONTENTS 

 

					
	Clause	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	  
	 1.1 Definitions
	  	 	1	  
	 ARTICLE II. SUBSERVICING
	  	 	3	  
	 2.1 Engagement as Subservicer
	  	 	3	  
	 2.2 Servicing Transfer Procedures
	  	 	3	  
	 2.3 Reference to Master Subservicing Agreement
	  	 	3	  
	 ARTICLE III. SERVICING FEES
	  	 	3	  
	 3.1 Base Subservicing Fee
	  	 	3	  
	 3.2 Performance Fee
	  	 	4	  
	 ARTICLE IV. MISCELLANEOUS
	  	 	4	  
	 4.1 Incorporation
	  	 	4	  
	 4.2 Third Party Beneficiaries
	  	 	4	  

  

			
	 SCHEDULE I
	  	Servicing Agreements
	 SCHEDULE II
	  	Retained Servicing Fee Percentage
	 SCHEDULE III
	  	Target Ratio Schedule








 SUBSERVICING SUPPLEMENT 

This SUBSERVICING SUPPLEMENT, dated as of February 10, 2012 (this “Subservicing Supplement”), is by and between
HLSS HOLDINGS, LLC, a Delaware limited liability company (“Servicer”), and OCWEN LOAN SERVICING, LLC, a Delaware limited liability company (“Ocwen”). 

RECITALS: 

WHEREAS, as of the applicable Servicing Transfer Date (as defined herein), Servicer will become the servicer of certain Mortgage Loans
(as defined in the Master Subservicing Agreement) pursuant to the terms of those certain pooling and servicing agreements or other servicing agreements listed in Schedule I hereto; and 

WHEREAS, Servicer and Ocwen are parties to that certain Master Subservicing Agreement dated as of the date hereof (the “Master
Subservicing Agreement”); and 
 WHEREAS, Servicer desires to engage Ocwen to act as subservicer with respect to the
Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements listed in Schedule I hereto, as of the applicable Servicing Transfer Date (as defined herein), and Ocwen desires to act as subservicer with
respect to the Mortgage Loans relating to those pooling and servicing agreements or other servicing agreements, on the terms set forth in the Master Subservicing Agreement, as supplemented by this Subservicing Supplement. 

NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, Servicer and Ocwen agree as follows: 
 ARTICLE I. 
 DEFINITIONS. 

1.1 Definitions. (a) For purposes of this Subservicing Supplement, the following capitalized terms shall have the
respective meanings set forth or referenced below. 
 “Base Subservicing Fee” has the meaning set forth in
Section 3.1. 
 “Deferred Servicing Agreement” has the meaning set forth in the Sale Supplement.

 “Excess Servicing Advances” shall mean, for any calendar month, the amount, if any, by which the outstanding
Servicing Advances with respect to the Servicing Agreements as of the last day of such calendar month exceeds an amount equal to (a) the Target Ratio for such calendar month multiplied by (b) the unpaid principal balance of the Mortgage
Loans subject to the Servicing Agreements as of the last day of such calendar month. 

  
 Subservicing
Supplement 








 “Monthly Reporting Date” means, with respect to each Subject Servicing
Agreement, the date specified as the “Monthly Reporting Date” in Schedule I to this Subservicing Supplement. 

“Monthly Servicing Fee” shall mean, for each calendar month, the sum of the Base Subservicing Fee such calendar month
and the Seller Monthly Servicing Fee (as defined in the Sale Supplement) for such calendar month. 
 “Performance
Fee” has the meaning set forth in Section 3.2. 
 “Retained Servicing Fee” shall mean, for
any calendar month, an amount equal to the sum of (a) the product of the Retained Servicing Fee Percentage for such calendar month and the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing Agreements and
the Deferred Servicing Agreements during such calendar month, and (b) the Retained Servicing Fee Shortfall, if any, for the immediately prior calendar month. 
 “Retained Servicing Fee Percentage” shall mean, for any calendar month, the percentage set forth on Schedule II to this Subservicing Supplement. 

“Retained Servicing Fee Shortfall” shall mean, for any calendar month, beginning in February, 2012, an amount equal to
the excess, if any, of (a) the Retained Servicing Fee for such calendar month over (b) the excess, if any, of (x) the aggregate Servicing Fees actually received by Servicer pursuant to the Subject Servicing Agreements and with respect
to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to Sale Supplement, as applicable) over (y) the Monthly Servicing Fee for such calendar month.

 “Sale Supplement” shall mean that certain Sale Supplement, dated as of the date hereof, between Servicer, as
Purchaser, and Ocwen, as Seller, as the same may be amended, supplemented or otherwise modified from time to time. 

“Scheduled Termination Date” means, with respect to each Subject Servicing Agreement serviced pursuant to this
Subservicing Supplement, the date which is six (6) years after the closing date of the initial acquisition of assets pursuant to the Sale Supplement. 
 “Servicing Agreement” shall mean each of the pooling and servicing agreements or other servicing agreements listed in Schedule I hereto. 

“Servicing Fees” shall mean, with respect to any Servicing Agreement, the servicing fees payable to Servicer under the
Subject Servicing Agreements, including each “servicing fee” payable based on a percentage of the outstanding principal balance of the Mortgage Loans serviced pursuant to such Servicing Agreement, but excluding any Ancillary Income,
Prepayment Interest Excess or any amounts earned in connection with the investment of funds in the related Custodial Accounts and Escrow Accounts. 
 “Servicing Transfer Date” shall have the meaning specified in the Sale Supplement. 
 “Subject Servicing Agreement”, shall mean, as of any date of determination, each Servicing Agreement with respect to which the Servicing Transfer Date has occurred on or prior to such
date and with respect to which the Subservicing Termination Date has not occurred on or prior to such date. 

  
 Subservicing
Supplement 
 2 








 “Target Ratio” for each calendar month shall mean the amount specified in
Schedule III with respect to such month. 
 (b) Any capitalized term used but not defined in this Subservicing Supplement
shall have the meaning assigned to such term in the Master Subservicing Agreement. 
 ARTICLE II. 

SUBSERVICING 
 2.1 Engagement as Subservicer. Servicer hereby engages Ocwen to act as subservicer, and Ocwen agrees to act as subservicer, with respect to the Mortgage Loans relating to those certain pooling and
servicing agreements or other servicing agreements listed in Schedule I hereto (the “Subject Servicing Agreements”) pursuant to the terms of the Master Subservicing Agreement, as supplement by this Subservicing Supplement, on
and after the related Servicing Transfer Date for such Subject Servicing Agreement. Except as set forth in this Subservicing Supplement or the Master Subservicing Agreement, Ocwen further agrees to be responsible for performing all of the duties and
obligations of Servicer and its subservicers under each Subject Servicing Agreement, and to meet any standards and fulfill any requirements applicable to Servicer or its subservicer under each Subject Servicing Agreement on and after the related
Servicing Transfer Date. 
 2.2 Servicing Transfer Procedures. Servicer and Ocwen each covenant and agree to following
the Servicing Transfer Procedures agreed pursuant to the Sale Supplement with respect to each Subject Servicing Agreement. 

2.3 Reference to Master Subservicing Agreement. Each of Servicer and Subservicer agrees that (a) this Subservicing Supplement
is a “Subservicing Supplement” executed pursuant to Section 2.1 of the Master Subservicing Agreement, (b) the terms of this Subservicing Supplement are hereby incorporated into the Master Subservicing Agreement with
respect to the Subject Servicing Agreements and the related Mortgage Loans to the extent set forth therein, (c) each of the Subject Servicing Agreements listed in Schedule I is a “Subject Servicing Agreement” as such term is
used in the Master Subservicing Agreement on and after the related Servicing Transfer Date, and (d) the terms of this Subservicing Supplement apply to the Subject Servicing Agreements specified herein and not to any other “Subject
Servicing Agreement” as that term is used in the Master Subservicing Agreement. In the event of any conflict between the provisions of this Subservicing Supplement and the Master Subservicing Agreement, the terms of this Subservicing Supplement
shall prevail. 
 ARTICLE III. 
 SERVICING FEES 
 3.1 Base Subservicing Fee. As compensation for its
services with respect to the Subject Servicing Agreements, Servicer shall pay Ocwen a monthly base subservicing fee for 

  
 Subservicing
Supplement 
 3 








 
each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this Subservicing Supplement equal to 12.00% of the aggregate Servicing
Fees actually received by Servicer pursuant to the Subject Servicing Agreements during such calendar month (the “Base Subservicing Fee”). 
 3.2 Performance Fee. Servicer shall pay to Ocwen for each calendar month during which Ocwen is servicing Mortgage Loans with respect to Subject Servicing Agreements pursuant to this
Subservicing Supplement a performance fee (the “Performance Fee”) equal to the greater of (a) zero and (b) the excess, if any, of the aggregate of all Servicing Fees actually received by Servicer pursuant to the Subject Servicing
Agreements and with respect to the Deferred Servicing Agreements during such calendar month (whether directly pursuant to such Subject Servicing Agreement or pursuant to the Sale Supplement, as applicable) over the sum of (i) the Monthly Servicing
Fee for such calendar month and (ii) the Retained Servicing Fee for such calendar month, multiplied by (y) a fraction, (i) the numerator of which is the average unpaid principal balance of all Mortgage Loans subject to the Subject Servicing
Agreements during such calendar month and (ii) the denominator of which is equal to the sum of the average unpaid principal balance of all Mortgage Loans subject to the Deferred Servicing Agreements during such calendar month and the average unpaid
principal balance of all Mortgage Loans subject to the Subject Servicing Agreements during such calendar month, or such other allocation percentage which is agreed by Servicer and Ocwen (the “Allocation Percentage”). The Performance
Fee, if any, for any calendar month will be reduced by 6.50% per annum (i.e., 0.5417% per month) of the Excess Servicing Advances, if any, for such calendar month multiplied by the Allocation Percentage. If the Closing Date does not occur on the
first day of a calendar month, the Performance Fee for the period from the Closing Date to the last of the calendar month in which the Closing Date occurs shall be calculated in a pro rata manner based on the number of days in such period.

 ARTICLE IV. 
 MISCELLANEOUS 
 4.1 Incorporation. The provisions of Article
10 of the Master Subservicing Agreement are hereby incorporated into this Subservicing Supplement by reference, mutatis mutandis, as if its provisions were fully set forth herein. 

4.2 Third Party Beneficiaries. Ocwen and Servicer each acknowledges and agrees that the indenture trustee, on behalf of the
holders of related notes, with respect to any Servicing Advance Facility pursuant to which Servicer has transferred Servicer Advances made pursuant to a Servicing Agreement is an express third party beneficiary of this Subservicing Supplement and
the Subservicing Agreement solely with respect to the Servicing Agreements related to such Servicing Advance Facility. 

[Signature Page Follows] 

  
 Subservicing
Supplement 
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 IN WITNESS WHEREOF, the parties hereto have caused this Subservicing Supplement to be
executed and delivered as of the date first above written. 
  

			
	HLSS HOLDINGS, LLC
	
	 By: Home Loan Servicing Solutions, Ltd., its sole
 member

		
	    By:	 	/s/ William C. Erbey            
	    Name:	 	William C. Erbey
	    Title:	 	Chief Executive Officer


  

			
	OCWEN LOAN SERVICING, LLC
		
	    By:	 	/s/ Ronald M. Faris
	    Name:	 	Ronald M. Faris
	    Title:	 	President, CEO and Secretary



  
 Subservicing
Supplement 
 5 








 SCHEDULE I 

SERVICING AGREEMENTS 
  

							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	1.	  	EQLS 2007-1	  	Pooling and Servicing Agreement, dated as of June 1, 2007, among BCAP LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ SERVICING, as Servicer, DEUTSCHE BANK
NATIONAL TRUST COMPANY, as Trustee, and THE BANK OF NEW YORK TRUST COMPANY, N.A., as Custodian.	  	1/17/12
	2.	  	SABR 2007-NC2	  	Pooling and Servicing Agreement, dated as of February 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ
SERVICING, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	3.	  	SABR 2007-NC1	  	Pooling and Servicing Agreement, dated as of January 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ
SERVICING, as Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	4.	  	SABR 2006-FR3	  	Pooling and Servicing Agreement, dated as of July 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, OFFICETIGER
GLOBAL REAL ESTATE SERVICES INC., as Loan Performance Advisor, FREMONT INVESTMENT & LOAN, as Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	1/18/12
	5.	  	SABR 2006-HE1	  	Pooling and Servicing Agreement, dated as of August 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, FREMONT
INVESTMENT & LOAN, as a Responsible Party, AEGIS MORTGAGE CORPORATION, as a Responsible Party, DECISION ONE MORTGAGE COMPANY, LLC, as a Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	1/18/12


  
 Sch I-1









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	6.	  	SABR 2006-HE2	  	Pooling and Servicing Agreement, dated as of September 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, FREMONT
INVESTMENT & LOAN, as a Responsible Party, NC CAPITAL CORPORATION, as a Responsible Party, AEGIS MORTGAGE CORPORATION, as a Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	7.	  	SABR 2006-NC3	  	Pooling and Servicing Agreement, dated as of October 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, NC CAPITAL
CORPORATION, as Responsible Party, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Custodian.	  	 	1/18/12	  
	8.	  	SABR 2006-WM2	  	Pooling and Servicing Agreement, dated as of October 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WMC MORTGAGE
CORP., as Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	9.	  	SABR 2006-WM3	  	Pooling and Servicing Agreement, dated as of November 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, WMC MORTGAGE CORP., as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  
	10.	  	SABR 2006-FR4	  	Pooling and Servicing Agreement, dated as of November 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, FREMONT INVESTMENT & LOAN, as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  


  
 Sch I-2









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	11.	  	SABR 2006-WM4	  	Pooling and Servicing Agreement, dated as of December 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, WMC MORTGAGE CORP., as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  
	12.	  	SABR 2007-HE1	  	Pooling and Servicing Agreement, dated as of January 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, WMC MORTGAGE CORP., as a Responsible Party, NC CAPITAL CORPORATION, as a Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  
	13.	  	SABR 2007-BR5	  	Pooling and Servicing Agreement, dated as of June 1, 2007, among BCAP LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ SERVICING, as Servicer, and DEUTSCHE BANK
NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	14.	  	SABR 2007-BR4	  	Pooling and Servicing Agreement, dated as of May 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ SERVICING,
as Servicer, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	15.	  	SABR 2007-BR3	  	Pooling and Servicing Agreement, dated as of May 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ SERVICING,
as Servicer, WMC MORTGAGE CORP., as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  
	16.	  	SABR 2007-BR2	  	Pooling and Servicing Agreement, dated as of April 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, WMC MORTGAGE CORP., as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian.	  	 	1/18/12	  


  
 Sch I-3









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	17.	  	SABR 2007-BR1	  	Pooling and Servicing Agreement, dated as of March 1, 2007, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, BARCLAYS CAPITAL REAL ESTATE INC., D/B/A HOMEQ
SERVICING, as Servicer, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	18.	  	PPSI 2004-WHQ1	  	Pooling and Servicing Agreement, dated as of September 1, 2004, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	19.	  	PPSI 2004-MHQ1	  	Pooling and Servicing Agreement, dated as of October 1, 2004, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	20.	  	PPSI 2004-WHQ2	  	Pooling and Servicing Agreement, dated as of November 1, 2004, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	21.	  	PPSI 2005-WHQ1	  	Pooling and Servicing Agreement, dated as of February 1, 2005, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	22.	  	PPSI 2005-WHQ2	  	Pooling and Servicing Agreement, dated as of April 1, 2005, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	23.	  	PPSI 2005-WHQ3	  	Pooling and Servicing Agreement, dated as of May 1, 2005, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO BANK,
N.A., as Trustee.	  	 	1/18/12	  
	24.	  	PPSI 2005-WHQ4	  	Pooling and Servicing Agreement, dated as of August 1, 2005, among PARK PLACE SECURITIES, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Master Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  


  
 Sch I-4









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	25.	  	SABR 2005-HE1	  	Pooling and Servicing Agreement, dated as of November 1, 2005, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer, MORTGAGERAMP, INC., as Loan Performance Advisor, NC CAPITAL CORPORATION, as a Responsible Party, WMC MORTGAGE CORPORATION, as a Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Trustee.	  	 	1/18/12	  
	26.	  	SABR 2006-FR1	  	Pooling and Servicing Agreement, dated as of February 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer,
MORTGAGERAMP, INC., as Loan Performance Advisor, FREMONT INVESTMENT & LOAN, as Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	27.	  	SABR 2006-FR2	  	Pooling and Servicing Agreement, dated as of June 1, 2006, among SECURITIZED ASSET BACKED RECEIVABLES LLC, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, OFFICETIGER
GLOBAL REAL ESTATE SERVICES INC., as Loan Performance Advisor, FREMONT INVESTMENT & LOAN, as Responsible Party, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	28.	  	ABFC 2003-WMC1	  	Pooling and Servicing Agreement, dated as of November 1, 2003, by and between ASSET BACKED FUNDING CORPORATION, HOMEQ SERVICING CORPORATION, and JPMORGAN CHASE BANK	  	 	1/17/12	  
	29.	  	FFML 2005-FF5	  	Pooling and Servicing Agreement, dated as of April 1, 2005, among ASSET BACKED FUNDING CORPORATION, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer and JPMORGAN CHASE
BANK, N.A., as Trustee.	  	 	1/17/12	  
	30.	  	ABFC 2005-WMC1	  	Pooling and Servicing Agreement, dated as of September 1, 2005, among ASSET BACKED FUNDING CORPORATION, as Depositor, HOMEQ SERVICING CORPORATION, as Servicer and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	31.	  	ABSHE 2004-HE1	  	Pooling and Servicing Agreement, dated as of January 1, 2004, among ASSET BACKED SECURITIES CORPORATION, as Depositor, DLJ MORTGAGE CAPITAL, INC., as Seller, HOMEQ SERVICING
CORPORATION, as Servicer and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  


  
 Sch I-5









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	32.	  	ABSHE 2004-HE2	  	Pooling and Servicing Agreement, dated as of April 1, 2004, among ASSET BACKED SECURITIES CORPORATION, as Depositor, DLJ MORTGAGE CAPITAL, INC., as Seller, HOMEQ SERVICING
CORPORATION, as Servicer, and WELLS FARGO BANK, N.A., as Trustee.	  	 	1/19/12	  
	33.	  	ABSHE 2006-HE2	  	Pooling and Servicing Agreement, dated as of March 1, 2004, among ASSET BACKED SECURITIES CORPORATION, as Depositor, DLJ MORTGAGE CAPITAL, INC., as Seller, HOMEQ SERVICING
CORPORATION, as Servicer, MORTGAGERAMP, INC., as Loan Performance Advisor, and U.S. BANK, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	34.	  	ACE 2004-RM1	  	Pooling and Servicing Agreement, dated as of July 1, 2004, among ACE SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A., as Master
Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	35.	  	GSAMP 2004-FM1	  	Pooling and Servicing Agreement, dated as of January 1, 2004, among GS MORTGAGE SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	36.	  	GSAMP 2004-FM2	  	Pooling and Servicing Agreement, dated as of March 1, 2004, among GS MORTGAGE SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	37.	  	EMLT 2004-1	  	Pooling and Servicing Agreement, dated as of February 15, 2004, among FINANCIAL ASSET SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and DEUTSCHE BANK
NATIONAL TRUST COMPANY, as Trustee.	  	 	1/17/12	  
	38.	  	FFML 2004-FFH1	  	Pooling and Servicing Agreement, dated as of March 1, 2004, among FINANCIAL ASSET SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS FARGO BANK,
NATIONAL ASSOCIATION, as Trustee.	  	 	1/17/12	  
	39.	  	SVHE 2004-1	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among FINANCIAL ASSET SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as a Servicer, SAXON MORTGAGE
SERVICES, INC., as a Servicer, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/17/12	  


  
 Sch I-6









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	40.	  	FINA 2004-2	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among FINANCIAL ASSET SECURITIES CORP., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and DEUTSCHE BANK
NATIONAL TRUST COMPANY, as Trustee.	  	 	1/17/12	  
	41.	  	SVHE 2005-CTX1	  	Pooling and Servicing Agreement, dated as of November 1, 2005, among FINANCIAL ASSET SECURITIES CORP., as Depositor, CENTEX HOME EQUITY COMPANY, LLC, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, and JPMORGAN CHASE BANK, N.A., as Trustee.	  	 	1/17/12	  
	42.	  	SAIL 2004-4	  	Securitization Servicing Agreement, dated as of May 1, 2004, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES INC.,
as Master Servicer, and LASALLE BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	43.	  	SAIL 2004-7	  	Securitization Servicing Agreement, dated as of July 1, 2004, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A., as
Master Servicer, and LASALLE BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	44.	  	FHLT 2004-3	  	Securitization Servicing Agreement, dated as of October 1, 2004, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A.,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/18/12	  
	45.	  	SAIL 2005-7	  	Securitization Servicing Agreement, dated as of July 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES LLC,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	46.	  	SAIL 2006-3	  	Securitization Servicing Agreement, dated as of June 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A., as
Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  


  
 Sch I-7









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	47.	  	SAIL 2006-4	  	Securitization Servicing Agreement, dated as of June 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	48.	  	SASC 2006-BC2	  	Securitization Servicing Agreement, dated as of August 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A.,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	49.	  	SASC 2006-W1A	  	Securitization Servicing Agreement, dated as of August 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	50.	  	SASC 2006-BC5	  	Securitization Servicing Agreement, dated as of November 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK,
N.A., as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	51.	  	SASC 2007-BC2	  	Securitization Servicing Agreement, dated as of February 1, 2007, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	52.	  	SASC 2007-EQ1	  	Securitization Servicing Agreement, dated as of April 1, 2007, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES LLC,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	53.	  	SAIL 2005-HE1	  	Securitization Servicing Agreement, dated as of July 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES LLC,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  


  
 Sch I-8









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	54.	  	SAIL 2005-HE2	  	Securitization Servicing Agreement, dated as of July 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	55.	  	SAIL 2005-HE3	  	Securitization Servicing Agreement, dated as of July 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES LLC,
as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	56.	  	SAIL 2005-8	  	Securitization Servicing Agreement, dated as of September 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	57.	  	SASC 2005-AR1	  	Securitization Servicing Agreement, dated as of November 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	58.	  	SAIL 2005-11	  	Securitization Servicing Agreement, dated as of December 1, 2005, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES
LLC, as Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	59.	  	SAIL 2006-2	  	Securitization Servicing Agreement, dated as March 1, 2006, among LEHMAN BROTHERS HOLDINGS INC., as Seller, HOMEQ SERVICING CORPORATION, as Servicer, AURORA LOAN SERVICES LLC, as
Master Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	 	1/10/12	  
	60.	  	MLMI 2004-WMC1	  	Pooling and Servicing Agreement, dated as of January 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS
FARGO BANK, N.A., as Trustee.	  	 	1/18/12	  
	61.	  	FFML 2004-FF1	  	Pooling and Servicing Agreement, dated as of February 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS
FARGO BANK, N.A., as Trustee.	  	 	1/18/12	  


  
 Sch I-9









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	62.	  	MLMI 2004-WMC2	  	Pooling and Servicing Agreement, dated as of March 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS
FARGO BANK, N.A., as Trustee.	  	 	1/18/12	  
	63.	  	MLMI 2004-WMC3	  	Pooling and Servicing Agreement, dated as of April 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	64.	  	MLMI 2004-WMC4	  	Pooling and Servicing Agreement, dated as of June 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS FARGO
BANK, N.A., as Trustee.	  	 	1/18/12	  
	65.	  	MLMI 2004-WMC5	  	Pooling and Servicing Agreement, dated as of October 1, 2004, among MERRILL LYNCH MORTGAGE INVESTORS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and WELLS
FARGO BANK, N.A., as Trustee.	  	 	1/18/12	  
	66.	  	MSAC 2003-NC5	  	Pooling and Servicing Agreement, dated as of May 1, 2003, by and between MORGAN STANLEY ABS CAPITAL I INC., HOMEQ SERVICING CORPORATION, NC CAPITAL CORPORATION, DEUTSCHE BANK
NATIONAL TRUST COMPANY	  	 	1/17/12	  
	67.	  	MSAC 2003-NC6	  	Pooling and Servicing Agreement, dated as of June 1, 2003, by and between MORGAN STANLEY ABS CAPITAL I INC., HOMEQ SERVICING CORPORATION, NC CAPITAL CORPORATION, DEUTSCHE BANK
NATIONAL TRUST COMPANY	  	 	1/18/12	  
	68.	  	MSAC 2003-NC7	  	Pooling and Servicing Agreement, dated as of July 1, 2003, as amended, as of as of April 14, 2005, by and between MORGAN STANLEY ABS CAPITAL I INC., HOMEQ SERVICING CORPORATION,
NC CAPITAL CORPORATION, DEUTSCHE BANK NATIONAL TRUST COMPANY	  	 	1/18/12	  
	69.	  	MSAC 2003-NC9	  	Pooling and Servicing Agreement, dated as of August 1, 2003, by and between MORGAN STANLEY ABS CAPITAL I INC., HOMEQ SERVICING CORPORATION, NC CAPITAL CORPORATION, DEUTSCHE BANK
NATIONAL TRUST COMPANY, ACE GUARANTY CORP.	  	 	1/18/12	  
	70.	  	MSAC 2004-NC1	  	Pooling and Servicing Agreement, dated as of January 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer,
NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  


  
 Sch I-10









  

									
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date	 
	71.	  	MSAC 2004-HE2	  	Pooling and Servicing Agreement, dated as of April 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, AAMES CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	72.	  	MSAC 2004-NC4	  	Pooling and Servicing Agreement, dated as of May 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, NC CAPITAL CORPORATION,
as Responsible Party and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	73.	  	MSAC 2004-HE3	  	Pooling and Servicing Agreement, dated as of May 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, AAMES CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  
	74.	  	MSAC 2004-HE4	  	Pooling and Servicing Agreement, dated as of June 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, AAMES CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	 	1/18/12	  


  
 Sch I-11










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	75.	  	MSAC 2004-HE5	  	Pooling and Servicing Agreement, dated as of July 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, ACCREDITED HOME LENDERS, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	76.	  	MSAC 2004-NC6	  	Pooling and Servicing Agreement, dated as of July 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, NEW CENTURY MORTGAGE CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as Responsible Party and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	77.	  	MSAC 2004-WMC1	  	Pooling and Servicing Agreement, dated as of July 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WMC MORTGAGE CORP., as
Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	78.	  	MSAC 2004-HE6	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, ACCREDITED HOME LENDERS, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	79.	  	MSAC 2004-NC7	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, NEW CENTURY MORTGAGE CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12


  
 Sch I-12










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	80.	  	MSAC 2004-HE7	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE MANHATTAN MORTGAGE CORPORATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, NEW CENTURY MORTGAGE CORPORATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, AAMES CAPITAL CORPORATION, MILA, INC., NC CAPITAL CORPORATION, and DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Trustee.	  	1/18/12
	81.	  	MSAC 2004-WMC2	  	Pooling and Servicing Agreement, dated as of August 1, 2004, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WMC MORTGAGE CORP., as
Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	82.	  	MSHEL 2005-1	  	Pooling and Servicing Agreement, dated as of January 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, CHASE HOME FINANCE LLC, as a Servicer, HOMEQ SERVICING
CORPORATION, as a Servicer, FIRST NLC FINANCIAL SERVICES, LLC, MILA, INC., and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	83.	  	MSAC 2005-HE1	  	Pooling and Servicing Agreement, dated as of January 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, OPTION ONE
MORTGAGE CORPORATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, NC CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., DECISION ONE MORTGAGE COMPANY LLC, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Custodian, and DEUTSCHE BANK
NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	84.	  	MSAC 2005-NC1	  	Pooling and Servicing Agreement, dated as of February 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as a Servicer, CHASE HOME FINANCE
LLC, as a Servicer, NEW CENTURY MORTGAGE CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12


  
 Sch I-13










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	85.	  	MSAC 2005- HE2	  	Pooling and Servicing Agreement, dated as of March 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, OPTION
ONE MORTGAGE CORPORATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, NC CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., DECISION ONE MORTGAGE COMPANY LLC, AAMES CAPITAL CORPORATION, WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Custodian, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	86.	  	MSHEL 2005-2	  	Pooling and Servicing Agreement, dated as of May 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer,
COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, ACCREDITED HOME LENDERS, INC., as a Responsible Party, FIRST NLC FINANCIAL SERVICES, LLC, as a Responsible Party, MILA, INC., as a Responsible Party, and
DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	87.	  	MSAC 2005-HE3	  	Pooling and Servicing Agreement, dated as of July 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer and
Securities Administrator, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., NC CAPITAL CORPORATION, ACCREDITED HOME LENDERS, INC., DECISION ONE MORTGAGE COMPANY LLC, LASALLE BANK
NATIONAL ASSOCIATION, as Custodian, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	88.	  	MSAC 2005-HE4	  	Pooling and Servicing Agreement, dated as of August 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., ACCREDITED HOME LENDERS, INC., DECISION ONE MORTGAGE COMPANY LLC, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee and as a Custodian, LASALLE BANK NATIONAL ASSOCIATION, as a Custodian, and
DEUTSCHE BANK NATIONAL TRUST COMPANY, as a Custodian.	  	1/18/12


  
 Sch I-14










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	89.	  	MSHEL 2005-3	  	Pooling and Servicing Agreement, dated as of August 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer,
HOMEQ SERVICING CORPORATION, as a Servicer, MILA, INC., as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	90.	  	MSAC 2005-HE5	  	Pooling and Servicing Agreement, dated as of October 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., NC CAPITAL CORPORATION, DECISION ONE MORTGAGE COMPANY LLC, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee and as a Custodian,
LASALLE BANK NATIONAL ASSOCIATION, as a Custodian and DEUTSCHE BANK NATIONAL TRUST COMPANY, as a Custodian.	  	1/18/12
	91.	  	MSHEL 2005-4	  	Pooling and Servicing Agreement, dated as of November 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, FIRST NLC FINANCIAL SERVICES, LLC, as Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and LASALLE BANK NATIONAL ASSOCIATION, as Custodian.	  	1/18/12
	92.	  	MSAC 2005-HE6	  	Pooling and Servicing Agreement, dated as of November 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, JPMORGAN
CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., NC CAPITAL CORPORATION, DECISION ONE MORTGAGE COMPANY LLC, WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Custodian, LASALLE BANK
NATIONAL ASSOCIATION, as a Custodian, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12


  
 Sch I-15










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	93.	  	MSAC 2005-HE7	  	Pooling and Servicing Agreement, dated as of December 1, 2005, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer,
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., NC CAPITAL CORPORATION, DECISION ONE MORTGAGE COMPANY LLC, WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Custodian, LASALLE
BANK NATIONAL ASSOCIATION, as a Custodian and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	94.	  	MSHEL 2006-1	  	Pooling and Servicing Agreement, dated as of January 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, DECISION ONE MORTGAGE
COMPANY, LLC, FIRST NLC FINANCIAL SERVICES, LLC, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and LASALLE BANK NATIONAL ASSOCIATION, as Custodian.	  	1/18/12
	95.	  	MSAC 2006-NC1	  	Pooling and Servicing Agreement, dated as of January 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ
SERVICING CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	96.	  	MSHEL 2006-2	  	Pooling and Servicing Agreement, dated as of March 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, FIRST NLC
FINANCIAL SERVICES, LLC, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	97.	  	MSAC 2006-NC3	  	Pooling and Servicing Agreement, dated as of April 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, WELLS FARGO BANK, N.A., as a Servicer, HOMEQ SERVICING
CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as Responsible Party, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12


  
 Sch I-16










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	98.	  	MSAC 2006-HE2	  	Pooling and Servicing Agreement, dated as of April 1, 2006, among MORGAN STANLEY CAPITAL I INC., as Depositor, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Securities
Administrator, as a Servicer and as a Custodian, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, WMC MORTGAGE CORP., as a Responsible Party, DECISION ONE MORTGAGE COMPANY, LLC, as a Responsible
Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and LASALLE BANK NATIONAL ASSOCIATION, as a Custodian.	  	1/18/12
	99.	  	MSAC 2006-HE3	  	Pooling and Servicing Agreement, dated as of May 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Servicer and as a
Custodian, HOMEQ SERVICING CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as a Responsible Party, WMC MORTGAGE CORP., as a Responsible Party, DECISION ONE MORTGAGE COMPANY, LLC, as a Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as
Trustee, and LASALLE BANK NATIONAL ASSOCIATION, as a Custodian.	  	1/18/12
	100.	  	MSHEL 2006-3	  	Pooling and Servicing Agreement, dated as of May 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, HOMEQ SERVICING CORPORATION, as a Servicer, WELLS FARGO BANK,
NATIONAL ASSOCIATION, as a Servicer, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, FIRST NLC FINANCIAL SERVICES, LLC, and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	101.	  	MSAC 2006-HE5	  	Pooling and Servicing Agreement, dated as of June 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, COUNTRYWIDE HOME LOANS SERVICING LP, as a Servicer, WELLS FARGO
BANK, NATIONAL ASSOCIATION, as a Servicer and as a Custodian, HOMEQ SERVICING CORPORATION, as a Servicer, NEW CENTURY MORTGAGE CORPORATION, as a Servicer, NC CAPITAL CORPORATION, as a Responsible Party, WMC MORTGAGE CORP., as a Responsible Party,
DECISION ONE MORTGAGE COMPANY, LLC, as a Responsible Party, DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee, and LASALLE BANK NATIONAL ASSOCIATION, as a Custodian.	  	1/18/12


  
 Sch I-17









  

							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	102.	  	MSIX 2006-1	  	Pooling and Servicing Agreement, dated as of June 1, 2006, among MORGAN STANLEY ABS CAPITAL I INC., as Depositor, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer, as
Securities Administrator and as a Servicer, SAXON MORTGAGE SERVICES, INC., as a Servicer, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Servicer, HOMEQ SERVICING CORPORATION, as a Servicer, FIRST NLC FINANCIAL SERVICES, LLC, as a Responsible
Party, DECISION ONE MORTGAGE COMPANY, LLC, as a Responsible Party, WMC MORTGAGE CORP., as a Responsible Party, IXIS REAL ESTATE CAPITAL INC., and DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee.	  	1/18/12
	103.	  	PCHLT 2004-1	  	Pooling and Servicing Agreement, dated as of April 1, 2004, among PEOPLE’S CHOICE HOME LOAN SECURITIES CORP., HOMEQ SERVICING CORPORATION, as Servicer, WELLS FARGO BANK, N.A.,
as Master Servicer and Securities Administrator, and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee.	  	1/18/12
	104.	  	MABS 2004-WMC2	  	Pooling and Servicing Agreement, dated as of July 1, 2004, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and U.S.
BANK NATIONAL ASSOCIATION, as Trustee.	  	1/18/12
	105.	  	MABS 2004-FRE1	  	Pooling and Servicing Agreement dated as of July 1, 2004, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., HOMEQ SERVICING CORPORATION AND U.S. BANK NATIONAL
ASSOCIATION	  	1/18/12
	106.	  	MABS 2004-WMC3	  	Pooling and Servicing Agreement, dated as of December 1, 2004, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and
U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/18/12
	107.	  	MABS 2005-FRE1	  	Pooling and Servicing Agreement, dated as of November 1, 2005, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, and
U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/18/12


  
 Sch I-18









  

							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	108.	  	MABS 2006-WMC1	  	Pooling and Servicing Agreement, dated as of March 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer,
WELLS FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	109.	  	MABS 2006-HE3	  	Pooling and Servicing Agreement, dated as of August 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WELLS
FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	110.	  	MABS 2006-NC2	  	Pooling and Servicing Agreement, dated as of September 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, HOMEQ SERVICING CORPORATION, as Servicer, WELLS
FARGO BANK, N.A., as Master Servicer and Trust Administrator, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	111.	  	MABS 2006-HE4	  	Pooling and Servicing Agreement, dated as of November 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ
SERVICING, as Servicer, WELLS FARGO BANK, N.A., as Servicer, Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	112.	  	MABS 2006-NC3	  	Pooling and Servicing Agreement, dated as of December 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ
SERVICING, as Servicer, WELLS FARGO BANK, N.A., as Master Servicer and Trust Administrator, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12


  
 Sch I-19










							
	 	  	 Short Form
 Deal Name
	  	Subject Servicing Agreement	  	Monthly
Reporting
Date
	113.	  	MABS 2006-HE5	  	Pooling and Servicing Agreement, dated as of December 1, 2006, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A
HOMEQ SERVICING, as Servicer, WELLS FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	114.	  	MABS 2007-HE1	  	Pooling and Servicing Agreement, dated as of May 1, 2007, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ
SERVICING, as Servicer, WELLS FARGO BANK, N.A., as Servicer, Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	115.	  	MABS 2007-HE2	  	Pooling and Servicing Agreement, dated as of August 1, 2007, among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC., as Depositor, OPTION ONE MORTGAGE CORPORATION, as a Servicer,
BARCLAYS CAPITAL REAL ESTATE INC. D/B/A HOMEQ SERVICING, as a Servicer, WELLS FARGO BANK, N.A., as Master Servicer, Trust Administrator and Custodian, and U.S. BANK NATIONAL ASSOCIATION as Trustee.	  	1/17/12
	116.	  	WMLT 2005-WMC1	  	Pooling and Servicing Agreement, dated as of September 1, 2005, among WACHOVIA MORTGAGE LOAN TRUST, LLC, as Depositor, WACHOVIA BANK, NATIONAL ASSOCIATION, as Certificate
Administrator and Custodian, HOMEQ SERVICING CORPORATION, as Servicer, and U.S. BANK NATIONAL ASSOCIATION, as Trustee.	  	1/18/12


  
 Sch I-20









 SCHEDULE II 

RETAINED SERVICING FEE PERCENTAGE 
  

					
	 From
Month1
	  	 To Month
	  	 Retained Fee

	1	  	3	  	32.5 bps
	4	  	6	  	31.0 bps
	7	  	12	  	29.5 bps
	13	  	18	  	27.5 bps
	19	  	24	  	27.5 bps
	25	  	30	  	27.5 bps
	31	  	36	  	27.5 bps
	37	  	42	  	27.5 bps
	43	  	48	  	27.5 bps
	49	  	54	  	27.5 bps
	55	  	60	  	27.5 bps
	61	  	66	  	27.5 bps
	67	  	72	  	27.5 bps

  
  

	1 	 Starting with March, 2012 (provided that the percentage for the first month will also apply to any partial period in February, 2012).




  
 Sch II-1









 SCHEDULE III 

TARGET RATIO SCHEDULE 
  

			
	Month2	  	Target Advance Ratio
	1	  	2.74%
	2	  	2.67%
	3	  	2.61%
	4	  	2.54%
	5	  	2.48%
	6	  	2.42%
	7	  	2.36%
	8	  	2.30%
	9	  	2.24%
	10	  	2.18%
	11	  	2.13%
	12	  	2.08%
	13	  	2.02%
	14	  	2.00%
	15	  	2.00%
	16	  	2.00%
	17	  	2.00%
	18	  	2.00%
	19	  	2.00%
	20	  	2.00%
	21	  	2.00%
	22	  	2.00%
	23	  	2.00%
	24	  	2.00%
	25	  	2.00%
	26	  	2.00%
	27	  	2.00%
	28	  	2.00%
	29	  	2.00%
	30	  	2.00%
	31	  	2.00%
	32	  	2.00%

  
  

	2 	 Starting with March, 2012 (provided that the percentage for the first month will also apply to any partial period in February, 2012).




  
 Sch III-1









  

			
	Month2	  	Target Advance Ratio
	33	  	2.00%
	34	  	2.00%
	35	  	2.00%
	36	  	2.00%
	37	  	2.00%
	38	  	2.00%
	39	  	2.00%
	40	  	2.00%
	41	  	2.00%
	42	  	2.00%
	43	  	2.00%
	44	  	2.00%
	45	  	2.00%
	46	  	2.00%
	47	  	2.00%
	48	  	2.00%
	49	  	2.00%
	50	  	2.00%
	51	  	2.00%
	52	  	2.00%
	53	  	2.00%
	54	  	2.00%
	55	  	2.00%
	56	  	2.00%
	57	  	2.00%
	58	  	2.00%
	59	  	2.00%
	60	  	2.00%
	61	  	2.00%
	62	  	2.00%
	63	  	2.00%
	64	  	2.00%
	65	  	2.00%
	66	  	2.00%
	67	  	2.00%
	68	  	2.00%
	69	  	2.00%
	70	  	2.00%
	71	  	2.00%
	72	  	2.00%


  
 Sch III-2