Document:

EXHIBIT 10.3 

 

SEQUOIA
MORTGAGE TRUST 2012-4

Mortgage Pass-Through Certificates, Series 2012-4

 

UNDERWRITING
AGREEMENT

September 14, 2012

 

The Firm or Firms

of Underwriters named

on the signature page hereof

 

Ladies and Gentlemen:

 

Sequoia Residential Funding, Inc., a Delaware
corporation (the “Depositor”) and an indirect wholly-owned limited purpose subsidiary of Redwood Trust, Inc., a Maryland
corporation (“Redwood Trust”), proposes to sell to you (the “Underwriter”) the Underwritten Certificates
(as defined below), and to cause Sequoia Mortgage Trust 2012-4 (the “Issuing Entity”), a common law trust governed
by New York law, to issue its Mortgage Pass-Through Certificates, Class A-1, Class A-2, Class A-3, Class A-IO2 and Class A-IO3
(in the principal or notional amounts specified in the last column of Schedule 1 hereto, the “Underwritten Certificates”)
having the characteristics set forth in the Final Prospectus, evidencing beneficial ownership interests in the Issuing Entity,
the assets of which will consist primarily of a pool of mortgage loans secured by first liens on one- to four-family residential
properties, including condominiums, planned unit developments and cooperatives (collectively, the “Mortgage Loans”).
Simultaneously with the issuance and sale of the Underwritten Certificates, the Class A-IO1, Class R, Class LT-R, Class B-1, Class
B-2, Class B-3, Class B-4 and Class B-5 Certificates (together with the Underwritten Certificates, the “Certificates”)
are being issued. The Mortgage Loans will have the characteristics described in the Final Prospectus, subject to the variances,
ranges, minimums and maximums set forth in the Final Prospectus.

 

    	 

    	 

    

 

The Issuing Entity will be formed, and the
Certificates will be issued, pursuant to a pooling and servicing agreement (the “Pooling and Servicing Agreement”)
dated as of September 1, 2012, between the Depositor, Wells Fargo Bank, N.A., in the capacities of master servicer (in such capacity,
the “Master Servicer”) and securities administrator (in such capacity, the “Securities Administrator”),
Christiana Trust, a division of Wilmington Savings Fund Society, FSB, as trustee (in such capacity, the “Trustee”),
and acknowledged as to specified sections by Redwood Residential Acquisition Corporation, a Delaware corporation and wholly-owned
subsidiary of Redwood Trust, as seller (the “Seller”). On or about September 21, 2012 (the “Closing Date”),
the Seller will assign all of its right, title and interest in the Mortgage Loans to the Depositor pursuant to a mortgage loan
purchase and sale agreement, dated as of September 21, 2012 (the “Mortgage Loan Purchase Agreement”), between the Seller,
as seller, and the Depositor, as purchaser. Pursuant to the Pooling and Servicing Agreement, the Mortgage Loans will, in turn,
be assigned by the Depositor to the Trustee for the benefit of the Certificateholders, together with all principal and interest
collections received with respect to the Mortgage Loans after September 1, 2012 (the “Cut-off Date”). The Trustee will
concurrently with such assignment, authenticate and deliver the Certificates to the Depositor, and the Depositor will sell the
Underwritten Certificates, in the respective initial Class Principal Amounts or Notional Amounts, as applicable, as set forth on
Schedule 1 annexed hereto, to the Underwriter. In addition, pursuant to various assignment, assumption and recognition agreements
and assignment of representations and warranties agreements (the “Assignment Agreements”), (i) the Seller will assign
its rights under various underlying mortgage loan purchase and servicing agreements relating to the Mortgage Loans, entered into
by the Seller (collectively, the “Underlying Purchase and Servicing Agreements”), to the Depositor and (ii) the
Depositor will, in turn, assign its rights under the Underlying Purchase and Servicing Agreements to the Trustee for the benefit
of the Certificateholders. The Master Servicer will monitor the servicing of the Mortgage Loans by the servicers pursuant to the
provisions of the Pooling and Servicing Agreement.

 

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The Pooling and Servicing Agreement, the
Mortgage Loan Purchase Agreement, the Assignment Agreements, the Underlying Purchase and Servicing Agreements and this Agreement
are sometimes referred to herein collectively as the “Transaction Documents.” Capitalized terms shall have the respective
meanings set forth in this Agreement (or by reference to Section 10 hereof) or, if not defined therein, as set forth in the Pooling
and Servicing Agreement.

 

1.            Representations and Warranties.
The Seller, the Depositor and Redwood Trust jointly and severally represent and warrant to, and agree with, the Underwriter that:

 

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(i)         A registration statement
on Form S-3 (File Nos. 333-179292 and 333-179292-01) relating to mortgage pass-through certificates has been filed with the Securities
and Exchange Commission (the “Commission”) and has become effective under the Securities Act of 1933, as amended (the
“Securities Act”). Such registration statement as of its effective date, and each amendment thereto and any document
incorporated by reference therein and any prospectus included or deemed or retroactively deemed to be a part thereof pursuant to
Rule 430A or Rule 430B, as of the date of this Agreement, is hereinafter referred to as the “Registration Statement.”
The Registration Statement meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act. As of the Closing Date,
no stop order suspending the effectiveness of such Registration Statement has been issued and no proceedings for that purpose have
been initiated or, to the knowledge of the Seller, the Depositor or Redwood Trust, threatened by the Commission. The Depositor
proposes to prepare and file with the Commission pursuant to Rule 424 under the Securities Act a final prospectus dated September
13, 2012 (the “Base Prospectus”) to be supplemented by a prospectus supplement to be dated on or about September 20,
2012 relating to the Underwritten Certificates in the form filed after the date of this Agreement pursuant to Section 424(b) that
discloses the public offering price and other final terms of the Underwritten Certificates (together with any revision, amendment
or supplement, the “Prospectus Supplement”). The Prospectus Supplement, together with the Base Prospectus, including
the documents incorporated therein as of the time of such filing is hereinafter referred to as the “Final Prospectus.”
In connection with the offering of the Underwritten Certificates, the Depositor has also prepared a preliminary prospectus supplement
dated September 14, 2012, which constitutes a statutory prospectus to be retroactively included in the Registration Statement and
has been or will be filed with the Commission pursuant to Rule 424(b) under the Securities Act (the “Preliminary Prospectus
Supplement” and together with the Base Prospectus, the “Preliminary Prospectus”). The Preliminary Prospectus
and the Final Prospectus separately, are referred to herein as a “Prospectus.” Any reference herein to the Registration
Statement or a Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item
12 of Form S-3 which were filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on or before
the date on which the Registration Statement, as amended, became effective, or the issue date of the Preliminary Prospectus, or
the date on which the Final Prospectus is filed pursuant to Rule 424(b) under the Securities Act, as the case may be; and any reference
herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement
and each Prospectus shall be deemed to refer to and include any document incorporated by reference therein which is filed under
the Exchange Act after the date on which the Registration Statement became effective, the issue date of the Preliminary Prospectus
or the date on which a Final Prospectus is filed pursuant to Rule 424(b) under the Securities Act, as the case may be.

 

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(ii)         Each of (A) the
Registration Statement, as of its effective date, (B) the Preliminary Prospectus and (C) the Final Prospectus, as of its issue
date, as revised, amended or supplemented and filed with the Commission prior to the termination of the offering of the Underwritten
Certificates, will conform in all material respects to the requirements of the Securities Act and the rules and regulations (the
“Regulations”) of the Commission thereunder applicable to such documents as of their respective dates, and the Registration
Statement and the Final Prospectus as revised, amended or supplemented and filed with the Commission as of the Closing Date will
conform in all material respects to the requirements of the Securities Act and the Regulations of the Commission applicable to
such documents as of the Closing Date. None of (A) the Registration Statement, at the time it became effective and as of the Closing
Date, (B) the Preliminary Prospectus, as of its issue date and as of September 14, 2012, which the Underwriter has advised the
Depositor is the first date on which a Contract of Sale has been entered into, or (C) the Final Prospectus, as of its issue date,
as of the date of any Contract of Sale that occurs after the date of the Final Prospectus and prior to the Closing Date, and as
of the Closing Date, contained or will contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; provided, however, that the Seller, the Depositor and Redwood Trust make no representations, warranties
or agreements as to the information contained in a Prospectus or any revision or amendment thereof or supplement thereto (in the
case of the Final Prospectus) in reliance upon and in conformity with information furnished in writing to the Depositor by or on
behalf of the Underwriter specifically for use in connection with the preparation of a Prospectus or any revision or amendment
thereof or supplement thereto (in the case of the Final Prospectus), such information being defined as the “Underwriter Information”
in Section 10 hereof.

 

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If, subsequent to the date of
this Agreement, the Depositor and the Underwriter determines that such information included an untrue statement of material fact
or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading and terminate their old Contracts of Sale and enter into new Contracts of Sale with investors
in the Underwritten Certificates, then the Preliminary Prospectus will refer to the information agreed upon in writing by the Depositor
and the Underwriter and conveyed to purchasers at the time of entry into the first such new Contract of Sale, including any information
that corrects such material misstatements or omissions (“Corrective Information”) and the date of each affected Contract
of Sale will refer to the time and date agreed upon by the Depositor and the Underwriter.

 

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(iii)         The conditions
to the use by the Depositor of a registration statement on Form S-3 under the Securities Act, as set forth in the General Instructions
to Form S-3, have been satisfied with respect to the Registration Statement. There are no contracts or documents of the Depositor
which are required to be filed as exhibits to the Registration Statement pursuant to the Securities Act or the Regulations of the
Commission thereunder which have not been so filed.

 

(iv)        (A) At the time
of the filing of the Registration Statement and (B) at the date of this Agreement, the Depositor was not and is not an “ineligible
issuer,” as defined in Rule 405 under the Securities Act.

 

(v)         As of the date hereof,
as of the date of any Contract of Sale and at all subsequent times through the completion of the public offer and sale of the Underwritten
Certificates, the Preliminary Prospectus issued at or prior to the date hereof, any Issuer Information or the Seller Mortgage Loan
Information (each as defined below) contained in a Free Writing Prospectus other than an Underwriter Free Writing Prospectus did
not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; provided, however, that no
representation is made as to any Underwriter Information.

 

(vi)        The Underwritten
Certificates conform in all material respects to the description thereof contained in the Final Prospectus. The issuance of the
Underwritten Certificates has been authorized, and on the Closing Date the Underwritten Certificates will have been duly and validly
executed, authenticated and delivered in accordance with the Pooling and Servicing Agreement and delivered to the Underwriter for
the account of the Underwriter against payment therefor as provided herein, and such Certificates will be duly and validly issued
and outstanding and entitled to the benefits afforded by the Pooling and Servicing Agreement. Each Underwritten Certificate of
the Class (or if applicable, Classes) or type indicated to be “mortgage related securities” under the heading “Summary
of Terms — Legal Investment” in the Prospectus Supplement will, when issued, be a “mortgage related security”
as such term is defined in Section 3(a)(41) of the Exchange Act.

 

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(vii)        This Agreement
has been duly authorized, executed and delivered by each of the Seller, the Depositor and Redwood Trust, and as of the Closing
Date, each of the other Transaction Documents to which the Seller, the Depositor or Redwood Trust is a party will have been, duly
authorized, executed and delivered by the Seller, the Depositor or Redwood Trust, as applicable, and will conform in all material
respects to the descriptions thereof contained in the Final Prospectus and, assuming the valid execution and delivery thereof by
the other parties thereto, each Transaction Document to which Redwood Trust, the Seller or the Depositor is a party will constitute
a legal, valid and binding agreement of the Seller, the Depositor or Redwood Trust, as applicable, enforceable in accordance with
its terms, except as the same may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors’
rights generally and by general principles of equity.

 

(viii)        Each of the Seller,
the Depositor and Redwood Trust has been duly incorporated and is validly existing as a corporation in good standing under the
laws of its respective state of incorporation, and each of the Seller, the Depositor and Redwood Trust is duly qualified to do
business as a foreign corporation and is in good standing under the laws of each jurisdiction where the character of its respective
properties or the nature of its respective activities makes such qualification necessary, except such jurisdictions, if any, in
which the failure to be so qualified will not have a material adverse effect on the condition (financial or otherwise), earnings,
regulatory affairs, business affairs, business prospects or properties of Redwood Trust, the Seller or the Depositor; each of Redwood
Trust, the Seller and the Depositor holds all material licenses, certificates and permits from all governmental authorities necessary
for the conduct of its respective business as described in the Final Prospectus; and each of the Seller, the Depositor and Redwood
Trust has the corporate power and authority to own its respective properties and conduct its respective business as described in
the Final Prospectus and to enter into and perform its respective obligations under each Transaction Document to which it is a
party.

 

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(ix)         Neither the issuance,
delivery or sale of the Underwritten Certificates, nor the consummation of any other of the transactions contemplated herein, nor
the execution and delivery of the Transaction Documents by the Seller, the Depositor or Redwood Trust, as applicable, and compliance
with the provisions of the Transaction Documents, does or will conflict with or result in the breach of any material term or provision
of the certificate of incorporation or by-laws of the Seller, the Depositor, or Redwood Trust, and none of the Seller, the Depositor
or Redwood Trust is in breach or violation of or in default (nor has an event occurred which with notice or lapse of time or both
would constitute a default) under the terms of (i) any indenture, contract, lease, mortgage, deed of trust, note, agreement or
other evidence of indebtedness or other agreement, obligation or instrument to which the Seller, the Depositor or Redwood Trust
is a party or by which it or its respective properties are bound, or (ii) any law, decree, order, rule or regulation applicable
to the Seller, the Depositor or Redwood Trust of any court or supervisory, regulatory, administrative or governmental agency, body
or authority, or arbitrator having jurisdiction over the Seller, the Depositor or Redwood Trust, or its respective properties,
in each case the default, breach or violation of which would have a material adverse effect on the Depositor, Redwood Trust, the
Issuing Entity or the Certificates or on the ability of the Seller, the Depositor or Redwood Trust to perform its respective obligations
under the Transaction Documents to which it is a party; and none of the delivery of the Certificates, the consummation of any other
of the transactions contemplated herein, or the compliance with the provisions of the Transaction Documents will result in such
a default, breach or violation or which would have such a material adverse effect. Each of the Seller, the Depositor and Redwood
Trust is in compliance with all applicable provisions of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and
regulations thereunder, any applicable anti-money laundering statutes, including the Bank Secrecy Act, as amended by Title III
of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001
and regulations administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury.

 

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(x)       No filing or registration
with, notice to, or consent, approval, authorization or order or other action of any court or governmental authority or agency
is required for the consummation by the Seller, the Depositor or Redwood Trust of the transactions contemplated by the Transaction
Documents to which it is a party (other than as required under “blue sky” or state securities laws, as to which no
representations and warranties are made by the Seller, the Depositor or Redwood Trust), except such as have been, or will have
been prior to the Closing Date, obtained under the Securities Act, and such recordations of the assignment of the Mortgage Loans
to the Trustee (to the extent such recordations are required pursuant to the Pooling and Servicing Agreement and/or Underlying
Purchase and Servicing Agreements) or filings under the Uniform Commercial Code that have not yet been completed.

 

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(xi)         Except as described
in the Final Prospectus, there is no action, order, suit or proceeding before or by any court, administrative or governmental agency
now pending to which the Seller, the Depositor or Redwood Trust is a party, or to the best knowledge of each of the Seller, the
Depositor or Redwood Trust, threatened against the Seller, the Depositor or Redwood Trust, which could reasonably result individually
or in the aggregate in any material adverse change in the condition (financial or otherwise), earnings, regulatory affairs, business
affairs, business prospects or properties of the Seller, the Depositor or Redwood Trust or could reasonably interfere with or materially
and adversely affect the consummation of the transactions contemplated by the Transaction Documents.

 

(xii)       At the time of
execution and delivery of the Mortgage Loan Purchase Agreement between the Seller and the Depositor, the Seller (A) will have good
title to and be the sole owner of the Mortgage Loans being sold to the Depositor pursuant thereto, free and clear of any lien,
mortgage, pledge, charge, encumbrance, adverse claim or other security interest (collectively “Liens”), and (B) will
not have assigned to any Person other than the Depositor any of its right, title or interest in and to the Mortgage Loans.

 

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(xiii)        Immediately prior
to the assignment of the Mortgage Loans by the Depositor to the Trustee as contemplated by the Pooling and Servicing Agreement,
the Depositor (A) will have good title to and be the sole owner of each such Mortgage Loan free and clear of any Lien, (B) will
not have assigned to any Person other than the Trustee any of its rights, title or interest in and to such Mortgage Loans or in
the Underlying Purchase and Servicing Agreements to the extent relating to the Mortgage Loans and (C) will have the power
and authority to sell such Mortgage Loans to the Trustee, and upon execution and delivery of the Pooling and Servicing Agreement
by the Trustee and delivery of the Certificates to the Depositor, the Trustee will have acquired all of the Depositor’s right,
title and interest in and to such Mortgage Loans.

 

(xiv)        Any taxes, fees
and other governmental charges in connection with the execution, delivery and issuance of the Transaction Documents and the Certificates
have been or will be paid by the Seller, the Depositor or Redwood Trust at or prior to the Closing Date, except (if applicable)
for fees for recording assignments of the Mortgage Loans to the Trustee pursuant to the Pooling and Servicing Agreement and/or
Underlying Purchase and Servicing Agreements and Uniform Commercial Code filing fees that have not yet been completed, which fees
will be paid by or on behalf of the Depositor.

 

(xv)        The Mortgage Loans
conform in all material respects to the description thereof contained in the Final Prospectus.

 

(xvi)       Neither the Depositor
nor the Issuing Entity is, and neither the issuance and sale of the Certificates nor the activities of the Issuing Entity pursuant
to the Pooling and Servicing Agreement will cause the Depositor or the Issuing Entity to be, an “investment company”
or under the control of an “investment company” as such terms are defined in the Investment Company Act of 1940, as
amended (the “Investment Company Act”).

 

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(xvii)       None of the Seller,
the Depositor or Redwood Trust is doing business with Cuba.

 

(xviii)     As of the date
of delivery, any Seller Mortgage Loan Information provided to the Underwriter is true and correct in all material respects, or
if there is any material error in any Seller Mortgage Loan Information, the Depositor or the Seller has promptly provided corrected
information to the Underwriter.

 

(xix)        Each
of the Seller and the Depositor has complied with Rule 193 of the Securities Act in all material respects in connection with the
offering of the Underwritten Certificates. 

 

2.           Purchase and Sale. Subject
to the terms and conditions and in reliance upon the representations and warranties set forth herein, the Depositor agrees to sell
to the Underwriter, and the Underwriter agrees to purchase from the Depositor, each Class of Underwritten Certificates to be purchased
by the Underwriter, in the initial Class Principal Amounts or Class Notional Amounts, as applicable, and at the purchase price,
as set forth on Schedule 1 annexed hereto (including accrued interest from and including the Cut-off Date to, but not including,
the Closing Date).

 

3.           Delivery and Payment.
The Underwritten Certificates shall be delivered at the office, on the date and at the time specified in the Final Prospectus,
which place, date and time may be changed by agreement between the Underwriter and the Depositor. Delivery of the Underwritten
Certificates shall be made to the Underwriter as against its payment of the purchase price therefor to or upon the order of the
Depositor in immediately available federal funds. The Underwritten Certificates shall be registered in such names and in such denominations
as required by book-entry registration not less than two full business days prior to the Closing Date. The Depositor agrees to
cause the Underwritten Certificates to be made available for inspection, checking and packaging in New York, New York on the business
day prior to the Closing Date.

 

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4.           Offering Procedures.
It is understood that the Underwriter proposes to offer the Underwritten Certificates for sale as set forth in the Preliminary
Prospectus and the Final Prospectus and that you will not offer, sell or otherwise distribute the Underwritten Certificates (except
for the sale thereof in exempt transactions) in any state or other jurisdiction in which the Underwritten Certificates are not
exempt from registration under “blue sky,” state or similar securities laws (except where the Underwritten Certificates
will have been qualified for offering and sale at your direction under such “blue sky,” state or similar securities
laws).

 

Neither the Depositor nor the Underwriter
will disseminate to any potential investor information relating to the Underwritten Certificates that constitutes a “written
communication” within the meaning of Rule 405 under the Securities Act, other than the Preliminary Term Sheet and the Preliminary
Free Writing Prospectus, each Prospectus and, in the case of the Underwriter, Derived Information or Custom Loan Information, unless
(i) if the Underwriter seeks to disseminate such information, the Underwriter has obtained the prior consent of the Depositor,
or (ii) if the Depositor seeks to disseminate such information, the Depositor has obtained the prior consent of the Underwriter.

 

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The Underwriter may convey Derived
Information or Custom Loan Information to a potential investor prior to entering into a Contract of Sale with such investor; provided,
however, that Derived Information shall not be distributed in a manner reasonably designed to lead to its broad unrestricted
dissemination within the meaning of Rule 433(d) under the Securities Act. The Underwriter shall deliver to the Depositor and its
counsel a copy, in electronic form, of each Free Writing Prospectus disseminated by the Underwriter that is required to be filed
with the Commission, not later than one business day prior to the date on which such Free Writing Prospectus is required under
the Regulations to be so filed. The Underwriter will comply with the requirements of Rule 433(g) applicable to any Free Writing
Prospectus, including document retention and record-keeping. The Underwriter represents to the Depositor that prior to September
10, 2012, it had not provided to any investor any Free Writing Prospectus or other information relating to the Underwritten Certificates
other than preliminary term sheets, mortgage loan tapes or CDI files, in each case previously approved by the Depositor and subject
to a confidentiality agreement approved by the Depositor.

 

The Depositor represents that it
has treated and agrees that it will treat each Free Writing Prospectus other than an Underwriter Free Writing Prospectus as an
“issuer free writing prospectus,” as defined in Rule 433, and has complied and will comply with the requirements of
Rule 433 applicable to any such Free Writing Prospectus, including timely Commission filing where required, legending and record-keeping.

 

Neither the Depositor nor the Underwriter
shall disseminate or file with the Commission any information relating to Underwritten Certificates in reliance on Rule 167 or
426 under the Securities Act, nor shall the Underwriter disseminate any Free Writing Prospectus in a manner reasonably designed
to lead to its broad unrestricted dissemination within the meaning of Rule 433(d) under the Securities Act.

 

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Prior to entering into a Contract
of Sale, the Underwriter shall have conveyed to the related purchaser a copy of (i) the Final Prospectus, or a copy of the Preliminary
Prospectus if the Final Prospectus is not yet available, and (ii) the Ratings Free Writing Prospectus (as defined herein), each
in the form that the Underwriter and the Depositor have agreed most recently prior thereto shall be used for offers and sales of
the Underwritten Certificates. Each confirmation of sale with respect to the Underwritten Certificates delivered by the Underwriter
shall, if such confirmation of sale is not preceded or accompanied by delivery of the Final Prospectus, include a legend to the
following effect, or a similar legend, in compliance with Rule 173 under the Securities Act:

 

Rule 173 notice:
This security was sold pursuant to an effective registration statement that is on file with the SEC. You may request a copy of
the Prospectus at www.sec.gov, or by calling 1-800-323-5678.

 

5.           Agreements. The Depositor
agrees with the Underwriter that:

 

(i)           The Depositor will
cause the Preliminary Prospectus and the Final Prospectus to be filed with the Commission pursuant to Rule 424(b) under the Securities
Act not later than 9:00 a.m. (New York time) on the Closing Date, will promptly advise the Underwriter when such Prospectus has
been so filed, and, prior to the termination of the offering of the Underwritten Certificates, will also promptly advise the Underwriter
(i) when any amendment to the Registration Statement has become effective or any revision of or supplement to the Final Prospectus
has been so filed (unless such amendment, revision or supplement does not relate to the Underwritten Certificates or the Issuing
Entity), (ii) of any request by the Commission for any amendment of the Registration Statement or any Final Prospectus or for any
additional information (unless such amendment or request for additional information does not relate to the Underwritten Certificates
or the Issuing Entity), (iii) of any written notification received by the Depositor of the suspension of qualification of the Underwritten
Certificates for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose and (iv) of the issuance
by the Commission of any stop order suspending the effectiveness of the Registration Statement or the institution or, to the knowledge
of the Depositor, the threatening of any proceeding for that purpose. The Depositor will use its best efforts to prevent the issuance
of any such stop order and, if issued, to obtain as soon as possible the withdrawal thereof. The Depositor will not file prior
to the termination of such offering any amendment to the Registration Statement or any revision of or supplement to the Final Prospectus
(other than any such amendment, revision or supplement which does not relate to Underwritten Certificates or the Issuing Entity)
which shall be disapproved by the Underwriter after reasonable notice and review of such filing.

 

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(ii)           If, at any time
when a prospectus relating to the Underwritten Certificates is required to be delivered under the Securities Act, (i) any event
occurs as a result of which the Final Prospectus, the Ratings Free Writing Prospectus or the Preliminary Prospectus (if used by
the Underwriter to enter into a Contract of Sale) as then amended or supplemented would include any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein in the light of the circumstances under which they
were made not misleading, or (ii) it shall be necessary to revise, amend or supplement the Final Prospectus to comply with the
Securities Act or the Regulations of the Commission thereunder, the Depositor promptly will notify the Underwriter and will, upon
the request of the Underwriter, or may, after consultation with the Underwriter, prepare and file with the Commission a revision,
amendment or supplement which will correct such statement or omission or effect such compliance, and furnish without charge to
the Underwriter as many copies as the Underwriter may from time to time reasonably request of an amended Final Prospectus, Ratings
Free Writing Prospectus or the Preliminary Prospectus (if used by the Underwriter to enter into a Contract of Sale) or a supplement
to the Final Prospectus, the Ratings Free Writing Prospectus or the Preliminary Prospectus (if used by the Underwriter to enter
into a Contract of Sale) which will correct such statement or omission or effect such compliance.

 

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If any Contract of Sale entered
into by the Underwriter is terminated or reformed (within the meaning of Rule 159 of the Securities Act) as a result of any such
revision, amendment or supplement, the Depositor shall reimburse the Underwriter for any reasonable cost incurred by an investor
and reimbursed by the Underwriter resulting from such termination or reformation.

 

(iii)           The Depositor
will furnish to the Underwriter and counsel to the Underwriter, without charge, conformed copies of the Registration Statement
(including exhibits thereto) and, so long as delivery of a prospectus relating to the Underwritten Certificates is required under
the Securities Act, as many copies of the Preliminary Prospectus, the Ratings Free Writing Prospectus, the Final Prospectus and
any revisions or amendments thereof or supplements thereto as may be reasonably requested.

 

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(iv)           The Depositor will,
as between itself and the Underwriter, pay all expenses incidental to the performance of the obligations of the Depositor, the
Seller or Redwood Trust under this Agreement, including without limitation (i) expenses of preparing, printing, filing and reproducing
the Registration Statement, the Preliminary Prospectus, the Final Prospectus, any Free Writing Prospectus other than an Underwriter
Free Writing Prospectus, the Transaction Documents and the Certificates, (ii) the cost of delivering the Underwritten Certificates
to the Underwriter, (iii) the fees charged by the securities rating agencies for rating the Underwritten Certificates, (iv) all
transfer taxes, if any, with respect to the sale and delivery of the Underwritten Certificates to the Underwriter, (v) any expenses
for the qualification of the Underwritten Certificates under “blue sky” or state securities laws, including
filing fees and the fees and disbursements of counsel for the Underwriter in connection therewith and in connection with the preparation
of any Blue Sky Survey, (vi) all other costs and expenses incidental to the performance by the Depositor, the Seller or Redwood
Trust of their respective obligations hereunder which are not otherwise specifically provided for in this subsection and (vii)
the fees of any accountants in connection with preparation of any comfort letters in connection with the Preliminary Term Sheet
or a Prospectus. In addition, it is understood that, except as provided in this paragraph (iv) and in Section 9 hereof, the Underwriter
will pay all the following additional expenses: (i) any transfer taxes on resale of any of the Underwritten Certificates by them,
(ii) any advertising expenses connected with any offers that the Underwriter may make, (iii) the fees of any counsel to the Underwriter,
including the fees incurred in connection with the review of the Transaction Documents and the preparation of the Underwriting
Agreement and the legal opinions and (iv) the expenses of any due diligence conducted by the Underwriter with respect to the Mortgage
Loans.

 

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(v)           So long as any Underwritten
Certificates are outstanding, upon request of the Underwriter, the Depositor will furnish, or will cause to be furnished, to the
Underwriter, as soon as available, a copy of (i) the annual statement of compliance prepared by the Master Servicer, the servicing
administrator, the servicers and any subservicers pursuant to the Pooling and Servicing Agreement or the Underlying Purchase and
Servicing Agreements, as applicable, (ii) each report regarding the Underwritten Certificates filed with the Commission under the
Exchange Act or mailed to the holders of the Underwritten Certificates and (iii) from time to time, such other information concerning
the Underwritten Certificates which may be furnished by the Depositor or the Trustee without undue expense and without violation
of applicable law.

 

(vi)          On or prior to
the filing of the Final Prospectus pursuant to Rule 424(b), the Company will file with the Commission a current report on Form
8-K attaching the Transaction Documents and certain other material agreements and opinions of counsel that are required to be filed,
provided that such Transaction Documents need not be executed and may be subject to nonmaterial changes.

 

(vii)          For a period ending
on the Closing Date, the Depositor shall not offer or sell, or announce the offering of, or cause any trust created by the Depositor
to offer or sell, or announce the offering of, any mortgage pass-through certificates or other similar mortgage-related securities,
without the prior written consent of the Underwriter.

 

(viii)         The Depositor
has prepared the Preliminary Prospectus described in Section 1(i) relating to the Underwritten Certificates, in a form consented
to by the Underwriter, and has filed or will file the Preliminary Prospectus within the period required by Rule 424(b).

 

(ix)           All written and
graphic communications relating to the Underwritten Certificates used prior to the availability of a Prospectus will comply with
the requirements of Rule 433, including the inclusion of the legend required by Rule 433(c)(2).

 

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(x)          Neither the Preliminary
Prospectus nor the Final Prospectus shall identify any nationally recognized statistical rating organization by name or indicate
any rating issued or expected to be issued by any nationally recognized statistical rating organization with respect to the Certificates.

 

Redwood Trust covenants with the
Underwriter and with the Depositor that it shall notify you and the Depositor of the occurrence of any material events respecting
the activities, affairs or condition, financial or otherwise, of Redwood Trust and its subsidiaries and, if as a result of any
such event it is necessary to amend or supplement any Prospectus in order to make such Prospectus not misleading in the light of
the circumstances existing at the time it is delivered to a purchaser, Redwood Trust will forthwith supply such information to
the Depositor as shall be necessary for the Depositor to prepare an amendment or supplement to such Prospectus so that, as so amended
or supplemented, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances existing at the time it is delivered to a purchaser,
not misleading.

 

6.           Conditions to the Obligations
of Underwriter. The obligation of the Underwriter to purchase the Underwritten Certificates to be purchased by it as set forth
on Schedule 1 annexed hereto shall be subject to the accuracy in all material respects of the representations and warranties on
the part of the Seller, the Depositor and Redwood Trust contained herein as of the date hereof and as of the Closing Date, to the
accuracy of the statements of the Seller, the Depositor and Redwood Trust made in any officer’s certificate pursuant to the
provisions hereof, to the performance in all material respects by the Seller, the Depositor and Redwood Trust of its obligations
hereunder and to the following additional conditions:

 

    	21

    	 

    

 

(a)         No stop order suspending the
effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been instituted
and be pending or shall have been threatened, any requests for additional information on the part of the Commission (to be included
in the Registration Statement or in a Prospectus or otherwise) shall have been complied with to the reasonable satisfaction of
the Underwriter, and the Preliminary Prospectus and the Final Prospectus shall have been filed or transmitted for filing with the
Commission not later than the time the same is required to be filed or transmitted for filing pursuant to the Regulations of the
Commission.

 

(b)         Each of the Depositor and
the Seller shall have furnished to the Underwriter a certificate, dated the Closing Date, signed by the Chairman of the Board or
the President and the principal financial or accounting officer of such entity, to the effect that each signer of such certificate
has carefully examined the Registration Statement, the Final Prospectus, the Preliminary Prospectus and this Agreement and that:

 

(i)           The representations
and warranties made by such entity herein are true and correct in all material respects on and as of the Closing Date with the
same effect as if made on the Closing Date, and such entity has complied with all agreements and satisfied all the conditions on
its part to be performed or satisfied at or prior to the Closing Date;

 

(ii)          No stop order suspending
the effectiveness of the Registration Statement has been issued, and no proceedings for that purpose have been instituted and are
pending or, to the knowledge of such officer, have been threatened as of the Closing Date;

 

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(iii)          Nothing has come
to the attention of such officer that would lead such officer to believe that the Preliminary Prospectus or the Final Prospectus
contains any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and

 

(iv)          Nothing has come
to the attention of such officer that would lead such officer to believe that any Seller Mortgage Loan Information contains any
untrue statement of a material fact or, in conjunction with the Preliminary Prospectus or the Final Prospectus, omits any material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

(c)         Redwood Trust shall have furnished
to the Underwriter a certificate, dated the Closing Date, of Redwood Trust, signed by the Chairman of the Board or President and
the principal financial or accounting officer of Redwood Trust, to the effect that each signer of such certificate has carefully
examined the Registration Statement, the Preliminary Prospectus, the Final Prospectus and this Agreement and that:

 

(i)           The representations
and warranties of Redwood Trust herein are true and correct in all material respects on and as of the Closing Date with the same
effect as if made on the Closing Date, and Redwood Trust has complied with all agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to the Closing Date;

 

(ii)           No stop order suspending
the effectiveness of the Registration Statement has been issued, and no proceedings for that purpose have been instituted and are
pending or, to the knowledge of such officer, have been threatened as of the Closing Date; and

 

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(iii)       Nothing has come
to the attention of such officer that would lead such officer to believe that the Preliminary Prospectus or the Final Prospectus
contains any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

 

(d)           Each of the Depositor and
the Seller shall have furnished to you an opinion, dated the Closing Date, of Weintraub Tobin Chediak Coleman Grodin Law Corporation
or Orrick, Herrington & Sutcliffe LLP, special counsel to the Depositor and the Seller, in form and substance satisfactory
to the Underwriter and counsel to the Underwriter, to the effect that:

 

(i)          Such entity has
been duly incorporated, is validly existing as a corporation in good standing under the laws of the State of its incorporation
and is duly qualified to do business in, and is in good standing as a foreign corporation under the laws of, each jurisdiction
where the character of its properties or the nature of its activities makes such qualification necessary, except such jurisdictions,
if any, in which the failure to be so qualified will not have a material adverse effect on the condition (financial or otherwise),
earnings, regulatory affairs, business affairs, business prospects or properties of such entity; and such entity holds all material
licenses, certificates and permits from all governmental authorities necessary for the conduct of its business as described in
the Final Prospectus;

 

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(ii)           No filing or registration
with, notice to, or consent, approval, authorization, order or other action of any governmental agency or body or any court is
required for the consummation by such entity of the transactions contemplated by the terms of the Transaction Documents to which
it is a party except such as may be required under the “blue sky” or state securities laws of any jurisdiction in connection
with the offering, sale or acquisition of the Underwritten Certificates, any recordations of the Mortgage Loans to the Trustee
(to the extent such recordations are required pursuant to the Pooling and Servicing Agreement and/or the Underlying Purchase and
Servicing Agreements) and filings under the Uniform Commercial Code that have not yet been completed and such other approvals as
have been obtained;

 

(iii)          The issuance,
delivery and sale of the Underwritten Certificates to be purchased by the Underwriter pursuant to this Agreement, the execution
and delivery of the Transaction Documents by such entity and the consummation of any of the transactions contemplated by the terms
of the Transaction Documents do not conflict with or result in a breach or violation of any material term or provision of, or constitute
a default under, the certificate of incorporation or by-laws of such entity, or any indenture, contract, lease, mortgage, deed
of trust, note, agreement or other evidence of indebtedness or other agreement, obligation or instrument to which such entity is
a party or by which it or its property is bound, or any statute or any law, decree, order, rule or regulation applicable to such
entity of any court, regulatory body, administrative agency or governmental body having jurisdiction over such entity or its properties;

 

(iv)          There are no legal
or governmental actions, investigations or proceedings pending to which such entity is a party, or, to the best knowledge of such
counsel, threatened against such entity, (A) asserting the invalidity of any Transaction Document or the Certificates, (B) seeking
to prevent the issuance of the Certificates or the consummation of any of the transactions contemplated by any Transaction Document,
(C) which might materially and adversely affect the performance by such entity of its respective obligations under, or the
validity or enforceability of, any Transaction Document or the Certificates, except as described in the Final Prospectus or (D)
seeking to affect adversely the REMIC status (for Federal income tax purposes) of the Underwritten Certificates as described in
the Final Prospectus under the heading “Material Federal Income Tax Consequences”;

 

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(v)           The Registration
Statement and any amendments thereto have become effective under the Securities Act; to the best knowledge of such counsel, no
stop order suspending the effectiveness of the Registration Statement has been issued and not withdrawn, no proceedings for that
purpose have been instituted or threatened and not terminated; and the Registration Statement and each Prospectus and each amendment
or supplement thereto (in the case of the Registration Statement and the Final Prospectus), as of their respective effective or
issue dates (other than the financial and statistical information contained therein as to which such counsel need express no opinion),
complied as to form in all material respects with the applicable requirements of the Securities Act and the respective rules and
regulations thereunder;

 

(vi)           To the best knowledge
of such counsel, there are no material contracts, indentures or other documents of a character required to be described or referred
to in the Registration Statement or any Prospectus or to be filed as exhibits to the Registration Statement other than those described
or referred to therein or filed or incorporated by reference as exhibits thereto;

 

(vii)           Each Transaction
Document to which such entity is a party has been duly authorized, executed and delivered by such entity and constitutes a valid,
legal and binding agreement of such entity enforceable against such entity in accordance with its terms, subject, as to enforceability
to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and to
general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law;

 

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(viii)          The direction
by the Depositor to the Trustee to execute, authenticate and deliver the Underwritten Certificates has been duly authorized by
the Depositor, and the Underwritten Certificates, when authenticated by the Trustee in the manner anticipated by the Pooling and
Servicing Agreement and delivered and paid for by you as provided in this Agreement, will be validly issued and outstanding and
entitled to the benefits of the Pooling and Servicing Agreement;

 

(ix)           The Underwritten
Certificates and the Transaction Documents conform in all material respects to the descriptions thereof contained in the Final
Prospectus;

 

(x)           The statements in
the Final Prospectus under the headings “Certain Legal Aspects of the Loans” and “Legal Investment,” to
the extent that they constitute matters of law or legal conclusions with respect thereto, have been reviewed by such counsel and
are correct in all material respects;

 

(xi)          The Underwritten
Certificates indicated under the heading “Summary of Terms — Legal Investment” in the Final Prospectus to be
“mortgage related securities” will be mortgage related securities, as defined in Section 3(a)(41) of the Exchange Act,
so long as such Underwritten Certificates are rated in one of the two highest rating categories by at least one nationally recognized
statistical rating organization; and

 

(xii)          The Pooling and
Servicing Agreement is not required to be qualified under the Trust Indenture Act of 1939, as amended, and neither the Depositor
nor the Issuing Entity is required to be registered as an “investment company” under the 1940 Act.

 

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Such opinion of counsel
shall also include negative assurances satisfactory to the Underwriter with respect to the Preliminary Prospectus, the Ratings
Free Writing Prospectus and the Final Prospectus.

 

Such opinion may express
its reliance as to factual matters on the representations and warranties made by, and on certificates or other documents furnished
by officers of, the parties to the Transaction Documents. Such opinion may assume the due authorization, execution and delivery
of the instruments and documents referred to therein by the parties thereto other than the Seller, the Depositor and Redwood Trust.
Such opinion may be qualified as an opinion only on the laws of the States of New York and Delaware and the federal law of the
United States, and such opinion may be subject to such other qualifications as are acceptable to the Underwriter and counsel to
the Underwriter. To the extent that such firm relies upon the opinion of other counsel in rendering any portion of its opinion,
the opinion of such other counsel shall be attached to and delivered with the opinion of such firm that is delivered to you.

 

(e)         The Depositor shall have furnished
to the Underwriter an opinion, dated the Closing Date, of Chapman and Cutler LLP, special tax counsel to the Depositor, in form
and substance satisfactory to the Underwriter and counsel to the Underwriter, to the effect that:

 

(i)           The statements in
the Final Prospectus under the heading “Material Federal Income Tax Consequences,” as supplemented or modified by the
statements in the Prospectus Supplement under the heading “Material Federal Income Tax Consequences,” to the extent
that they constitute matters of law or legal conclusions with respect to Federal income tax matters, are correct in all material
respects; and

 

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(ii)         Each segregated
asset pool for which the Pooling and Servicing Agreement directs the Trustee to make a REMIC election will qualify as a REMIC within
the meaning of Section 860D of the Code.

 

(f)         Redwood Trust shall have furnished
to the Underwriter an opinion, dated the Closing Date, of Weintraub Tobin Chediak Coleman Grodin Law Corporation, special counsel
to Redwood Trust, in form and substance satisfactory to the Underwriter and counsel to the Underwriter, to the effect that:

 

(i)           Redwood Trust has
been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Maryland and is
duly qualified to do business in, and is in good standing as a foreign corporation under the laws of, each jurisdiction where the
character of its properties or the nature of its activities makes such qualification necessary, except such jurisdictions, if any,
in which the failure to be so qualified will not have a material adverse effect on the condition (financial or otherwise), earnings,
regulatory affairs, business affairs, business prospects or properties of Redwood Trust; and Redwood Trust holds all material licenses,
certificates and permits from all governmental authorities necessary for the conduct of its business as described in the Final
Prospectus;

 

(ii)          Each Transaction
Document to which Redwood Trust is a party has been duly authorized, executed and delivered by Redwood Trust and constitutes a
valid, legal and binding agreement of Redwood Trust, enforceable against Redwood Trust in accordance with its terms, subject, as
to enforceability to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights
generally and to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at law;

 

    	29

    	 

    

 

(iii)        No consent, approval,
authorization or order of any court or governmental agency or body is required for the consummation by Redwood Trust of the transactions
contemplated by the terms of the Transaction Documents to which Redwood Trust is a party except such as may be required under the
“blue sky” or state securities laws of any jurisdiction in connection with the offering, sale or acquisition of the
Underwritten Certificates, any recordations of the assignment of the Mortgage Loans to the Trustee (to the extent such recordations
are required pursuant to the Pooling and Servicing Agreement and/or the Underlying Purchase and Servicing Agreements) that have
not yet been completed and such other approvals as have been obtained;

 

(iv)        The consummation
of any of the transactions contemplated by the terms of the Transaction Documents to which Redwood Trust is a party do not conflict
with or result in a breach or violation of any material term or provision of, or constitute a default under, the charter or by-laws
of Redwood Trust, or, to the best knowledge of such counsel, any indenture or other agreement or instrument to which Redwood Trust
is a party or by which it is bound, or any statute or regulation applicable to Redwood Trust or any order of any court, regulatory
body, administrative agency or governmental body having jurisdiction over Redwood Trust; and

 

(v)         There are no legal
or governmental actions, investigations or proceedings pending to which Redwood Trust is a party, or, to the best knowledge of
such counsel, threatened against Redwood Trust, (A) asserting the invalidity of any Transaction Document to which Redwood Trust
is a party or (B) which might materially and adversely affect the performance by Redwood Trust of its obligations under, or the
validity or enforceability of any Transaction Document to which Redwood Trust is a party.

 

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Such opinion may express
its reliance as to factual matters on the representations and warranties made by, and on certificates or other documents furnished
by officers of, the parties to the Transaction Documents. Such opinion may assume the due authorization, execution and delivery
of the instruments and documents referred to therein by the parties thereto other than Redwood Trust, the Seller and the Depositor.
Such opinion may be qualified as an opinion only on the laws of the States of Maryland, New York and California and the federal
law of the United States. To the extent that such counsel relies upon the opinion of other counsel in rendering any portion of
its opinion, the opinion of such other counsel shall be attached to and delivered with the opinion of such counsel that is delivered
to the Underwriter.

 

(g)        The Trustee shall have furnished
to the Underwriter an opinion, dated the Closing Date, of Alston & Bird LLP, counsel to the Trustee, in form and substance
satisfactory to the Underwriter and counsel to the Underwriter, to the effect that:

 

(i)         The Trustee has
been duly organized and is validly existing as a federal savings bank duly organized under the laws of the United States of America,
and is duly qualified to do business in each jurisdiction where the character of its properties or the nature of its activities
makes such qualification necessary, except such jurisdictions, if any, in which the failure to be so qualified will not have a
material adverse effect on the condition (financial or otherwise), earnings, regulatory affairs, business affairs, business prospects
or properties of the Trustee; and the Trustee holds all material licenses, certificates and permits from all governmental authorities
necessary for the conduct of its business as described in the Final Prospectus;

 

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(ii)        The Pooling and
Servicing Agreement has been duly authorized, executed and delivered by the Trustee and constitutes a valid, legal and binding
agreement of the Trustee, enforceable against the Trustee in accordance with its terms, subject, as to enforceability to bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and to general principles
of equity regardless of whether enforcement is sought in a proceeding in equity or at law;

 

(iii)        No consent, approval,
authorization or order of any court or governmental agency or body is required for the consummation by the Trustee of the transactions
contemplated by the terms of the Pooling and Servicing Agreement, except any such as may be required under the “blue sky”
or state securities laws of any jurisdiction in connection with the offering, sale or acquisition of the Underwritten Certificates,
any recordations of the assignment of the Mortgage Loans to the Trustee (to the extent such recordations are required pursuant
to the Pooling and Servicing Agreement and/or the Underlying Purchase and Servicing Agreements) that have not yet been completed
and such other approvals as have been obtained; and

 

(iv)       The consummation
of any of the transactions contemplated by the Pooling and Servicing Agreement do not conflict with or result in a breach or violation
of any material term or provision of, or constitute a default under, the charter or by-laws of the Trustee, or, to the best knowledge
of such counsel, any indenture or other agreement or instrument to which the Trustee is a party or by which it is bound, or any
statute or regulation applicable to the Trustee or any order of any court, regulatory body, administrative agency or governmental
body having jurisdiction over the Trustee.

 

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Such opinion may express
its reliance as to factual matters on the representations and warranties made by, and on certificates or other documents furnished
by officers of, the parties to the Transaction Documents. Such opinion may assume the due authorization, execution and delivery
of the instruments and documents referred to therein by the parties thereto other than the Trustee. Such opinion may be qualified
as an opinion only on the laws of the States of New York and Delaware and the federal law of the United States. To the extent that
such counsel relies upon the opinion of other counsel in rendering any portion of its opinion, the opinion of such other counsel
shall be attached to and delivered with the opinion of such counsel that is delivered to the Underwriter.

 

(h)        The Master Servicer and the
Securities Administrator shall have furnished to the Underwriter an opinion, dated the Closing Date, of counsel to the Master Servicer
or Alston & Bird LLP, counsel to such parties, in form and substance satisfactory to the Underwriter and counsel to the Underwriter,
to the effect that:

 

(i)         Each of the Master
Servicer and the Securities Administrator has been duly organized and is validly existing as a national banking association under
the laws of the United States of America, and is duly qualified to do business in each jurisdiction where the character of its
properties or the nature of its activities makes such qualification necessary, except such jurisdictions, if any, in which the
failure to be so qualified will not have a material adverse effect on the condition (financial or otherwise), earnings, regulatory
affairs, business affairs, business prospects or properties of the such party; and such party holds all material licenses, certificates
and permits from all governmental authorities necessary for the conduct of its business as described in the Final Prospectus;

 

    	33

    	 

    

 

(ii)        The Pooling and
Servicing Agreement has been duly authorized, executed and delivered by each of the Master Servicer and the Securities Administrator
and constitutes a valid, legal and binding agreement of the such party, enforceable against such party in accordance with its terms,
subject, as to enforceability to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’
rights generally and to general principles of equity regardless of whether enforcement is sought in a proceeding in equity or at
law;

 

(iii)        No consent, approval,
authorization or order of any court or governmental agency or body is required for the consummation by the either the Master Servicer
or the Securities Administrator of the transactions contemplated by the terms of the Pooling and Servicing Agreement;

 

(iv)        The consummation
of any of the transactions contemplated by the terms of the Pooling and Servicing Agreement do not conflict with or result in a
breach or violation of any material term or provision of, or constitute a default under, the charter or by-laws of either the Master
Servicer or the Securities Administrator or, to the best knowledge of such counsel, any indenture or other agreement or instrument
to which such party is a party or by which it is bound, or any statute or regulation applicable to such party or any order of any
court, regulatory body, administrative agency or governmental body having jurisdiction over such party; and

 

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(v)        There are no legal
or governmental actions, investigations or proceedings pending to which either the Master Servicer or the Securities Administrator
is a party, or, to the best knowledge of such counsel, threatened against the such party, (A) asserting the invalidity of the Pooling
and Servicing Agreement or (B) which might materially and adversely affect the performance by such party of its obligations under,
or the validity or enforceability of, the Pooling and Servicing Agreement.

 

Such opinion may express
its reliance as to factual matters on the representations and warranties made by, and on certificates or other documents furnished
by officers of, the parties to the Transaction Documents. Such opinion may assume the due authorization, execution and delivery
of the instruments and documents referred to therein by the parties thereto other than the Master Servicer or the Securities Administrator.
Such opinion may be qualified as an opinion only on the laws of the States of New York and Delaware and the federal law of the
United States. To the extent that such counsel relies upon the opinion of other counsel in rendering any portion of its opinion,
the opinion of such other counsel shall be attached to and delivered with the opinion of such counsel that is delivered to the
Underwriter.

 

(i)         The Underwriter shall have
received copies of any opinions of counsel delivered to the rating agencies set forth in the Ratings Free Writing Prospectus as
rating the Underwritten Certificates, including, but not limited to, any “true sale” or “perfection” opinions.
Any such opinions shall be dated the Closing Date and addressed to the Underwriter or accompanied by reliance letters addressed
to the Underwriter.

 

(j)         The Underwriter shall have
received from its counsel such opinion or opinions, dated the Closing Date, with respect to the issuance and sale of the Underwritten
Certificates, the Registration Statement and each Prospectus, and such other related matters as you may reasonably require, including
a negative assurance letter satisfactory to the Underwriter with respect to the Preliminary Prospectus, the Ratings Free Writing
Prospectus or the Final Prospectus.

 

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(k)        The Depositor’s independent
accountants shall have furnished to the Underwriter a letter or letters addressed to the Underwriter and dated as of or prior to
the date of first use of any Free Writing Prospectus (other than an Underwriter Free Writing Prospectus or the Preliminary Free
Writing Prospectus), the Preliminary Prospectus or the Final Prospectus in the form and reflecting the performance of the procedures
previously agreed to by the Depositor and the Underwriter.

 

(l)         Subsequent to the date hereof,
there shall not have occurred any change, or any development involving a prospective change in or affecting the earnings, business
or properties of Redwood Trust, the Depositor or the Seller which, in your judgment, materially impairs the investment quality
of the Underwritten Certificates so as to make it impractical or inadvisable to proceed with the public offering or the delivery
of the Underwritten Certificates as contemplated by the Final Prospectus.

 

(m)        The Underwritten Certificates
shall be rated not lower than the required ratings set forth in the Free Writing Prospectus dated September 14, 2012 with respect
to ratings of the Underwritten Certificates (the “Ratings Free Writing Prospectus”), such ratings shall not have been
rescinded and no public announcement shall have been made that any such required rating of the Underwritten Certificates has been
placed under review (otherwise than for possible upgrading).

 

(n)        The Depositor shall have furnished
to the Underwriter such further information, certificates and documents as the Underwriter may reasonably have requested, and all
proceedings in connection with the transactions contemplated by this Agreement and all documents incident hereto shall be in all
material respects satisfactory in form and substance to the Underwriter and its counsel.

 

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If any of the conditions specified
in this Section 6 shall not have been fulfilled when and as provided in this Agreement, this Agreement and all obligations of the
Underwriter hereunder may be canceled at, or at any time prior to, the Closing Date by the Underwriter. Notice of such cancellation
shall be given to the Depositor in writing, or by telephone or telegraph confirmed in writing.

 

7.         Termination. This Agreement
shall be subject to termination in your absolute discretion, by notice given to the Depositor if, subsequent to the date hereof,
(i) trading generally shall have been suspended or materially limited on, or by, as the case may be, any of the New York Stock
Exchange, the American Stock Exchange, the Nasdaq National Market, the Chicago Board of Options Exchange, the Chicago Mercantile
Exchange or the Chicago Board of Trade, (ii) trading of any securities of Redwood Trust or the Depositor shall have been suspended
on any exchange or in any over-the-counter market, (iii) a material disruption in securities settlement, payment or clearance services
in the United States shall have occurred, (iv) any moratorium on commercial banking activities shall have been declared by Federal
or New York State authorities or (v) there shall have occurred any outbreak or escalation of hostilities, or any change in financial
markets or any calamity or crisis that, in your judgment, is material and adverse and which, singly or together with any other
event specified in this clause (v), makes it, in your judgment, impracticable or inadvisable to proceed with the offer, sale or
delivery of the Underwritten Certificates on the terms and in the manner contemplated in the Final Prospectus.

 

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8.         Representations and Indemnities
to Survive. The respective agreements, representations, warranties, indemnities and other statements of the Depositor, the
Seller and Redwood Trust and their respective officers and of the Underwriter set forth in or made pursuant to this Agreement will
remain in full force and effect, regardless of any investigation made by or on behalf of the Underwriter or the Depositor, the
Seller or Redwood Trust, and will survive delivery of and payment for the Underwritten Certificates. The provisions of Sections
5(iv), 9, 11 and 12 hereof shall survive the termination or cancellation of this Agreement.

 

9.         Reimbursement of Underwriter
Expenses. If for any reason, other than default by the Underwriter in its obligation to purchase the Underwritten Certificates
or termination by the Underwriter pursuant to Section 7 hereof, the Underwritten Certificates are not delivered as provided herein,
the Depositor, the Seller and Redwood Trust jointly and severally agree to reimburse the Underwriter for all damages, losses and
out-of-pocket expenses of the Underwriter, including reasonable fees and disbursements of its counsel, reasonably incurred by the
Underwriter in making preparations for the purchase, sale and delivery of the Underwritten Certificates, but the Depositor, the
Seller and Redwood Trust shall then be under no further liability to the Underwriter with respect to the Underwritten Certificates,
except as provided in Sections 5(iv), 8, 11 or 12 hereof.

 

10.         Certain Definitions.
For purposes of this Agreement, the following terms shall have the respective meanings set forth below:

 

Custom Loan Information: Such information
regarding the Mortgage Loans as is disseminated by the Underwriter to a potential investor, exclusive of any Seller Mortgage Loan
Information (in the form provided by the Depositor) and information included in the Preliminary Term Sheet.

 

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Contract of Sale: A valid contract,
whether oral or written, by which a third party becomes committed to purchase any Underwritten Certificates from the Underwriter
and the Underwriter becomes committed to sell such Underwritten Certificates to such third party; provided that “Contract
of Sale” excludes any action by such third party and the Underwriter prior to such commitments.

 

Derived Information: Such information
regarding the Underwritten Certificates as is disseminated by the Underwriter to a potential investor, which information is prepared
on the basis of or derived from Seller Mortgage Loan Information (e.g., tables and/or charts displaying with respect to any Class
or Classes of Underwritten Certificates, any of the following: yield, average life, duration, expected maturity, interest rate
sensitivity, loss sensitivity), but does not include (i) Issuer Information, (ii) information contained in the Registration Statement,
any Prospectus or any amendment or supplement to any of them, taking into account information incorporated therein by reference
or (iii) Seller Mortgage Loan Information.

 

Free Writing Prospectus: The Preliminary
Term Sheet, the Preliminary Free Writing Prospectus and any Custom Loan Information, Derived Information or other information relating
to the Underwritten Certificates disseminated by the Depositor (with the prior consent of the Underwriter pursuant to Section 4)
or by the Underwriter (with the prior consent of the Depositor pursuant to Section 4), that constitutes a “free writing prospectus”
within the meaning of Rule 405 under the Securities Act.

 

Issuer Information: Such information
as defined in Rule 433(h) under the Securities Act and information that is based on or derived from such information, but excluding
Derived Information or Custom Loan Information.

 

Preliminary Free Writing Prospectus:
The preliminary free writing prospectus dated September 13, 2012.

 

Preliminary Term Sheet: The preliminary
term sheet dated September 10, 2012.

 

    	39

    	 

    

 

Seller Mortgage Loan Information:
Information relating to the Mortgage Loans furnished by or on behalf of the Depositor or the Seller to the Underwriter.

 

Spread: The excess, if any, of (i)
the purchase prices paid by investors to the Underwriter for the Underwritten Certificates over (ii) the purchase price
paid by the Underwriter to the Depositor for the Underwritten Certificates purchased by the Underwriter.

 

Underwriter Free Writing Prospectus:
Any Free Writing Prospectus that was prepared by or on behalf of an Underwriter.

 

Underwriter Information: The only
written information furnished by or on behalf of the Underwriter to the Depositor specifically for use in connection with the preparation
of the Registration Statement, any Prospectus or any Free Writing Prospectus, such information being specified on Exhibit A attached
hereto.

 

11.         Indemnification. (a)
The Depositor, the Seller and Redwood Trust jointly and severally agree to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of either the Securities Act or the Exchange Act against any and all losses,
claims, damages or liabilities, joint or several, to which they may become subject under the Securities Act, the Exchange Act,
or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement or in any revision or amendment thereof or supplement thereto, (ii) the omission or
alleged omission to state therein a material fact required to be stated in the Registration Statement or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading, (iii) any untrue statement or
alleged untrue statement of a material fact contained in the Preliminary Prospectus (expressly including any information relating
to a servicer or an originator), (iv) the omission or alleged omission to state therein a material fact required to be stated in
the Preliminary Prospectus (expressly including any information relating to a servicer or an originator), or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading, (v) any untrue statement
or alleged untrue statement of a material fact contained in the Final Prospectus (expressly including any information relating
to a servicer or an originator), or in any revision or amendment thereof or supplement thereto, (vi) the omission or alleged omission
to state in the Final Prospectus (expressly including any information relating to a servicer or an originator), or in any revision
or amendment thereof or supplement thereto, a material fact required to be stated therein or necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading, (vii) any untrue statement or alleged untrue statement
of a material fact contained in a Free Writing Prospectus other than an Underwriter Free Writing Prospectus, or (viii) the omission
or alleged omission to state in a Free Writing Prospectus other than an Underwriter Free Writing Prospectus a material fact required
to be stated in a Free Writing Prospectus or necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading, and further agree to promptly reimburse each such indemnified party for any legal or other
expenses reasonably incurred by it or him, as incurred, in connection with defending or preparing to defend against any such loss,
claim, damage, liability or action; provided, however, that none of the Depositor, the Seller or Redwood Trust shall
be liable to the Underwriter or any person who controls the Underwriter to the extent that any misstatement or alleged misstatement
or omission or alleged omission (i) was made in the Preliminary Prospectus, the Final Prospectus, any Free Writing Prospectus or
the Registration Statement, as applicable, pursuant to Underwriter Information, Derived Information or Custom Loan Information
disseminated by the Underwriter (unless such misstatement or alleged misstatement or omission or alleged omission resulted from
an error or material omission in the Seller Mortgage Loan Information), (ii) was corrected (with such correction timely delivered
to the Underwriter) at least one business day prior to the written confirmation of the applicable Contract of Sale and the Underwriter
did not deliver, at or prior to the written confirmation of such sale, a copy of the Final Prospectus as then revised, amended
or supplemented, if the Depositor has previously furnished copies thereof to the Underwriter in accordance with the terms of this
Agreement, (iii) was made in any Free Writing Prospectus or the Registration Statement and was corrected in the Preliminary Prospectus
but the Underwriter did not deliver, prior to entering into the applicable Contract of Sale, a copy of the Preliminary Prospectus
to the applicable purchaser, if the Depositor has previously furnished copies thereof to the Underwriter in accordance with the
terms of this Agreement or (iv) is attributable to a breach or an alleged breach of a representation and warranty made by the Underwriter
or an affiliate of the Underwriter to the Depositor or an affiliate of the Depositor. This agreement as to indemnity will be in
addition to any liability that the Depositor, the Seller or Redwood Trust may otherwise have.

 

    	40

    	 

    

 

(b)         The Underwriter agrees to
indemnify and hold harmless the Depositor, Redwood Trust and the Seller, the officers of the Depositor who signed the Registration
Statement or any amendment thereof, the directors of the Depositor, and each person who controls the Depositor, Redwood Trust or
the Seller within the meaning of either the Securities Act or the Exchange Act, to the same extent as the foregoing indemnities
from the Depositor, the Seller and Redwood Trust to the Underwriter; provided, however, that the Underwriter will
be liable in any such case only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission
was made in reliance upon and in conformity with Underwriter Information, Derived Information or Custom Loan Information, as applicable,
furnished by the Underwriter to the Depositor or to a prospective investor, except to the extent that any untrue statement or alleged
untrue statement therein or omission therefrom resulted (or is alleged to have resulted) directly from an error in the Seller Mortgage
Loan Information that was used in the preparation of either (x) any Underwriter Information, Derived Information or Custom Loan
Information (or amendment or supplement thereof) or (y) any written or electronic materials furnished to prospective investors
on which the Underwriter Information (or amendments or supplements) were based, and for any untrue statement or alleged untrue
statement of a material fact contained in any Underwriter Free Writing Prospectus prepared by or on behalf of the Underwriter and
the omission or alleged omission to state in any Underwriter Free Writing Prospectus prepared by or on behalf of the Underwriter
a material fact required to be stated in a Free Writing Prospectus or necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. This agreement as to indemnity will be in addition to any liability
that the Underwriter may otherwise have.

 

    	41

    	 

    

 

(c)         Promptly after receipt of
notice of the commencement of any action by an indemnified party under this Section 11, such indemnified party shall, if a claim
in respect thereof is to be made against the indemnifying party under this Section 11, notify the indemnifying party in writing
of the commencement thereof; provided, however, that the omission so to notify the indemnifying party will not relieve
the indemnifying party from any liability which it may have to any indemnified party, unless the indemnifying party is materially
prejudiced by such failure to notify and in any event shall not relieve the indemnifying party from
any liability which it may have to any indemnified party other than under this Section 11. In case any such action is brought
against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party shall
be entitled to participate therein, and to the extent that it may elect by written notice delivered to the indemnified party, to
assume the defense thereof; provided, however, that if the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party (including impleaded parties) or parties shall have reasonably concluded
that there may be legal defenses available to it or them and/or other indemnified parties that are different from or additional
to those available to the indemnifying party such that joint representation of the parties would create an ethical conflict of
interest for counsel, the indemnified party or parties shall have the right to elect to be represented by separate counsel to assert
such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties.
Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such action
and consent by the indemnified party to selection of counsel, which consent shall not be withheld unreasonably, the indemnifying
party will not be liable for any legal or other expenses subsequently incurred by such indemnified party in connection with the
defense thereof, unless (i) the indemnified party shall have employed separate counsel in connection with the assertion of legal
defenses in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party
shall not be liable for the expenses of more than one separate counsel (in addition to local counsel) for the Underwriter in the
case of paragraph (a) of this Section 11, representing the related indemnified parties under such paragraph (a) who are parties
to such action), (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of commencement of the action or (iii) the indemnifying party has authorized
the employment of counsel for the indemnified party at the expense of the indemnifying party; and except that, if clause (i) or
(iii) is applicable, such liability shall only be in respect of the counsel referred to in such clause (i) or (iii). The indemnifying
party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent
or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against
any loss or liability by reason of such settlement or judgment. No indemnifying party shall, without the consent of the indemnified
party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an unconditional
release of such indemnified party from all liability on claims that are the subject matter of such proceeding.

 

    	42

    	 

    

 

12.         Contribution. If the
indemnification provided for in Section 11 is unavailable or insufficient to hold harmless an indemnified party under Section 11,
then (i) each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses,
claims, damages or liabilities referred to in Section 11 above in such proportion as is appropriate to reflect the relative benefits
received by the Depositor, the Seller and Redwood Trust on the one hand and the Underwriter on the other from the offering of the
Underwritten Certificates or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in
such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative
fault of the Depositor, the Seller and Redwood Trust on the one hand and the Underwriter on the other in connection with the statements
or omissions or alleged statements or alleged omissions which resulted in such losses, claims, damages or liabilities as well as
any other relevant equitable considerations. The relative benefits received by the Depositor, the Seller and Redwood Trust on the
one hand and the Underwriter on the other shall be in such proportion so that the Underwriter is responsible for an amount equal
to the Spread, and the Depositor, the Seller and Redwood Trust are responsible for the balance. The relative fault shall be determined
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omissions or alleged
omission to state a material fact relates to information supplied by the Depositor, the Seller or Redwood Trust or by the Underwriter
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement
or omission. The Depositor, the Seller, Redwood Trust and the Underwriter agree that it would not be just and equitable if contribution
were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable
considerations referred to above. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities
referred to in the first sentence of this Section 12 shall be deemed to include any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any action or claim which is the subject of this Section
12. The Underwriter shall not be required to contribute any amount in excess of (x) the Spread, over (y) the amount of any damages
which the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.

 

    	43

    	 

    

 

13.        Successors. This Agreement
will inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns, and no other person
will have any right or obligation hereunder.

 

14.         Applicable Law. This
Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made
and to be performed therein, without reference to its conflict of law 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.

 

15.         No Advisory or Fiduciary
Responsibility. The Depositor acknowledges and agrees that: (i) the purchase and sale of the Underwritten Certificates pursuant
to this Agreement, including the determination of the public offering price of the Underwritten Certificates and any related discounts
and commissions, is an arm’s-length commercial transaction between the Depositor, on the one hand, and the Underwriter, on
the other hand, and the Depositor is capable of evaluating and understanding and understands and accepts the terms, risks and conditions
of the transactions contemplated by this Agreement; (ii) in connection with each transaction contemplated hereby and the process
leading to such transaction the Underwriter is and has been acting solely as a principal and is not the financial advisor, agent
or fiduciary of the Depositor or its affiliates, stockholders, creditors or employees or any other party; (iii) the Underwriter
has not assumed nor will it assume an advisory, agency or fiduciary responsibility in favor of the Depositor with respect to any
of the transactions contemplated hereby or the process leading thereto (irrespective of whether the Underwriter has advised or
is currently advising the Depositor on other matters) or any other obligation to the Depositor except the obligations expressly
set forth in this Agreement; (iv) the Underwriter and its affiliates may be engaged in a broad range of transactions that involve
interests that differ from those of the Depositor and that the Underwriter has no obligation to disclose any of such interests
by virtue of any advisory, agency or fiduciary relationship; and (v) the Underwriter has not provided any legal, accounting, regulatory
or tax advice with respect to the offering contemplated hereby and the Depositor has consulted its own legal, accounting, regulatory
and tax advisors to the extent it deemed appropriate.

 

    	44

    	 

    

 

This Agreement supersedes all prior
agreements and understandings (whether written or oral) between the Depositor and the Underwriter with respect to the subject matter
hereof. The Depositor hereby waives and releases, to the fullest extent permitted by law, any claims that the Depositor may have
against the Underwriter with respect to any breach or alleged breach of agency or fiduciary duty.

 

The Depositor acknowledges and agrees
that the Underwriter is acting solely in the capacity of an arm's length contractual counterparty to the Depositor with respect
to the offering of Underwritten Certificates contemplated hereby (including in connection with determining the terms of
the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Depositor or any other person. In addition,
the Underwriter is not advising the Depositor or any other person as to any legal, tax, investment, accounting or regulatory matters
in any jurisdiction. The Depositor shall consult with its own advisors concerning such matters, and the Underwriter shall have
no responsibility or liability to the Depositor with respect thereto. Any review by the Underwriter of the Depositor, the transactions
contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriter
and shall not be on behalf of the Depositor.

 

    	45

    	 

    

 

16.         Miscellaneous. Time
shall be of the essence of this Agreement. This Agreement, together with any contemporaneous written agreements and any prior written
agreements (to the extent not superseded by this Agreement) that relate to the offering of the Underwritten Certificates, represents
the entire agreement between Depositor, the Seller and Redwood Trust, on the one hand, and the Underwriter, on the other, with
respect to the preparation of the Preliminary Prospectus, the Final Prospectus and any Free Writing Prospectus, the conduct of
the offering and the purchase and sale of the Underwritten Certificates. Neither this Agreement nor any term hereof may be changed,
waived, discharged or terminated except by a writing signed by the party against whom enforcement of such change, waiver, discharge
or termination is sought. This Agreement may be signed in any number of counterparts, each of which shall be deemed an original,
which taken together shall constitute one and the same instrument.

 

17.         Notices. All communications
hereunder shall be in writing and effective only on receipt and, if sent to the Underwriter, shall be delivered to the address
specified on the signature page hereof. If such notice is sent to the Depositor, the Seller or Redwood Trust, it shall be delivered
to One Belvedere Place, Suite 330, Mill Valley, California 94941, attention of John Isbrandtsen.

 

18.        Closing Date. The Underwriter,
the Seller, the Depositor and Redwood Trust shall make all commercially reasonable efforts to close the sale and purchase of the
Underwritten Certificates (the “Transaction”) on September 21, 2012 (the “Targeted Closing Date”). If the
Transaction does not close on or before September 21, 2012, the Underwriter, the Seller, the Depositor and Redwood Trust shall
make all commercially reasonable efforts to close the Transaction as soon as practicable thereafter but not later than October
5, 2012 (the “Latest Permitted Closing Date”).

 

    	46

    	 

    

 

To the extent that the Transaction
does not close on the Targeted Closing Date but closes on or prior to the Latest Permitted Closing Date and the failure to close
on the Targeted Closing Date is not the result of a delay of or caused by the Underwriter in connection with any Free Writing Prospectus,
the Preliminary Prospectus, the Final Prospectus or this Agreement, the Aggregate Purchase Price Percentage for the Underwritten
Certificates as shown on Schedule 1 hereto shall be reduced by an amount equal to 0.078125% for each five business day period for
which the closing of the Transaction does not occur, pro rated for the actual number of business days from and including the Targeted
Closing Date to but excluding the actual closing date of the Transaction.

 

In the event that the Transaction
does not close on or before the Latest Permitted Closing Date, the obligations of the Underwriter under this Agreement shall terminate
unless the Underwriter, the Depositor, the Seller and Redwood Trust each agree in writing to extend this Agreement, subject to
any additional terms and conditions agreed to at the time of such extension.

 

* * *

 

    	47

    	 

    

 

If the foregoing is in accordance with
your understanding of our agreement please sign and return to the undersigned a counterpart hereof, whereupon this Agreement and
your acceptance shall represent a binding agreement by and among the Depositor, the Seller, Redwood Trust and the Underwriter
relating to the Underwritten Certificates. 

 

	 	Very truly yours,
	 	 
	 	REDWOOD RESIDENTIAL ACQUISITION CORPORATION,
	 	as Seller
	 	 
	 	By:	/s/ William J. Moliski
	 	 	Name:  William J. Moliski
	 	 	Title:    Authorized Signatory
	 	 
	 	SEQUOIA RESIDENTIAL FUNDING, INC.,
	 	as Depositor
	 	 
	 	By:	/s/ William J. Moliski
	 	 	Name:  William J. Moliski
	 	 	Title:    Authorized Signatory
	 	 
	 	REDWOOD TRUST, INC.
	 	 
	 	By:	/s/ William J. Moliski
	 	 	Name:  William J. Moliski
	 	 	Title:    Authorized Signatory

 

    	 

    	 

    

 

	The foregoing Agreement	 
	is hereby confirmed and accepted by:	 
	 	 
	BARCLAYS CAPITAL INC.	 
	 	 
	By:	/s/ Adam Yarnold	 
	 	Name: Adam Yarnold	 
	 	Title: Managing Director	 
	 	Address:  Barclays Capital Inc.	 
	 	                 745 Seventh Avenue	 
	 	                 New York, New York 10019	 

  

    	 

    	 

    

 

Schedule 1 – Schedule of
Underwritten Certificates

 

	Class	 	Original
Class 
Principal or
Notional 
Amount	 	 	Initial Class
 Interest
 Rate(1)
	 	 	Aggregate
Purchase
 Price
 Percentage of
the
Underwriter	 	 	Original
 Principal or
 Notional
 Amount to be
 purchased by
 Underwriter
	 
	A-1    	 	$	100,000,000	 	 	 	3.500	%	 	 	103.0000	%	 	$	100,000,000	 
	A-2    	 	$	100,000,000	 	 	 	3.000	%	 	 	101.7500	%	 	$	100,000,000	 
	A-3    	 	$	90,357,000	 	 	 	2.069	%	 	 	99.4225	%	 	$	90,357,000	 
	A-IO2	 	$	100,000,000	 	 	 	0.500	%	 	 	1.2500	%	 	$	100,000,000	 
	A-IO3	 	$	90,357,000	 	 	 	1.431	%	 	 	3.5775	%	 	$	90,357,000	 

 

 

 

		(1)	The Underwritten Certificates will accrue interest at the related interest rate described in the
Final Prospectus.

 

    	 

    	 

    

 

EXHIBIT A 

 

The following constitutes Underwriter Information
for purposes of Section 10 of this Agreement: 

 

The information set forth in the Preliminary
Prospectus Supplement and the Prospectus Supplement (i) in the first and second sentences of the paragraph immediately preceding
the penultimate paragraph on the cover page thereof and (ii) in the second paragraph and the first sentence of the fourth paragraph
under the caption “Method of Distribution” therein.EXHIBIT 10.6 

 

ASSIGNMENT, ASSUMPTION AND RECOGNITION
AGREEMENT

 

This is an Assignment,
Assumption and Recognition Agreement (the “Agreement”) made as of the 21st day of September, 2012, among
Redwood Residential Acquisition Corporation, a Delaware corporation (“Assignor”), Sequoia Residential Funding, Inc.,
a Delaware corporation (“Depositor”), Christiana Trust, a division of Wilmington Savings Fund Society, FSB, a federal
savings bank, not in its individual capacity but solely as trustee (in such capacity, the “Trustee” or the “Assignee”)
under a Pooling and Servicing Agreement dated as of September 1, 2012 (the “Pooling and Servicing Agreement”), and
First Republic Bank, a California-chartered bank (the “Bank”).

 

In consideration
of the mutual promises contained herein, the parties hereto agree that the mortgage loans (the “Attachment 1A Mortgage Loans”)
listed on Attachment 1A annexed hereto (the “Attachment 1A Mortgage Loan Schedule”) now serviced by the Bank (together
with its successors and assigns, the “Servicer”) for Assignor and its successors and assigns pursuant to the Flow
Mortgage Loan Sale and Servicing Agreement dated as of July 1, 2010, between Assignor and the Bank (the “Sale and Servicing
Agreement”) and the servicing thereof shall be subject to the terms of the Sale and Servicing Agreement as modified or supplemented
by this Agreement. In consideration of the mutual promises contained herein, the parties hereto further agree that the servicing
of the mortgage loans (the “Attachment 1B Mortgage Loans” and, together with the Attachment 1A Mortgage Loans, the
“Mortgage Loans”) listed on Attachment 1B annexed hereto (the “Attachment 1B Mortgage Loan Schedule” and,
together with the Attachment 1A Mortgage Loan Schedule, the “Mortgage Loan Schedule”) delivered under the Flow Mortgage
Loan Sale and Servicing Agreement dated as of March 16, 2012, between Barclays Bank PLC and the Bank, as modified by the Assignment,
Assumption and Recognition Agreement, dated as of March 29, 2012 (the “Barclays AAR”), among Barclays Capital PLC,
Redwood Residential Acquisition Corporation and the Bank (together, the “Purchase Agreement”) shall be subject to
the terms of the Sale and Servicing Agreement as modified or supplemented by this Agreement. Unless otherwise specified herein,
capitalized terms used herein but not defined shall have the meanings ascribed to them in the Sale and Servicing Agreement. Assignor
will sell the Mortgage Loans to Depositor pursuant to a Mortgage Loan Purchase and Sale Agreement dated the date hereof, and Depositor
will sell the Mortgage Loans to Assignee pursuant to the Pooling and Servicing Agreement.

 

Assignment and Assumption

 

1.             Assignor
hereby grants, transfers and assigns to Depositor all of its right, title and interest in, to and under the Sale and Servicing
Agreement to the extent relating to the Attachment 1A Mortgage Loans, together with its obligations as “Purchaser”
to the extent relating to the Attachment 1A Mortgage Loans, and Depositor hereby accepts such assignment from Assignor and assumes
such obligations.

 

    	 

    	 

    

 

2.             Assignor
hereby grants, transfers and assigns to Depositor all of its right, title and interest in, to and under the Purchase Agreement
to the extent relating to the Attachment 1B Mortgage Loans, together with its obligations as “Purchaser” (as such
term is defined in the Purchase Agreement) to the extent relating to the Attachment 1B Mortgage Loans, and Depositor hereby accepts
such assignment from Assignor and assumes such obligations.

 

3.             Depositor
hereby grants, transfers and assigns to Assignee all of its right, title and interest in, to and under the Sale and Servicing
Agreement to the extent relating to the Attachment 1A Mortgage Loans, together with its obligations as “Purchaser”
to the extent relating to the Attachment 1A Mortgage Loans, Depositor is released from all obligations under the Sale and Servicing
Agreement, and Assignee hereby accepts such assignment from Depositor and assumes such obligations.

 

4.             Depositor
hereby grants, transfers and assigns to Assignee all of its right, title and interest in, to and under the Purchase Agreement
to the extent relating to the Attachment 1B Mortgage Loans, together with its obligations as “Purchaser” (as such
term is defined in the Purchase Agreement) to the extent relating to the Attachment 1B Mortgage Loans, Depositor is released from
all obligations under the Purchase Agreement, and Assignee hereby accepts such assignment from Depositor and assumes such obligations.

 

5.             Assignee
agrees to be bound, as “Purchaser,” by all of the terms, covenants and conditions of the Sale and Servicing Agreement
relating to the Attachment 1A Mortgage Loans, and from and after the date hereof, Assignee assumes for the benefit of each of
Assignor, Depositor and the Bank all of Assignor's obligations as Purchaser thereunder in respect of the Attachment 1A Mortgage
Loans, and Assignor is released from such obligations.

 

6.             Assignee
agrees to be bound, as “Purchaser” (as such term is defined in the Purchase Agreement), by all of the terms, covenants
and conditions of the Purchase Agreement relating to the Attachment 1B Mortgage Loans, and from and after the date hereof, Assignee
assumes for the benefit of each of Assignor, Depositor and the Bank all of Assignor's obligations as Purchaser thereunder in respect
of the Attachment 1B Mortgage Loans, and Assignor is released from such obligations.

 

7.             The
Bank hereby acknowledges the foregoing assignments and assumptions and agrees that Assignee shall be the “Purchaser”
under both the Sale and Servicing Agreement with respect to the Attachment 1A Mortgage Loans and the Purchase Agreement with respect
to the Attachment 1B Mortgage Loans.

 

Representations and Warranties

 

8.             Assignor
warrants and represents to, and covenants with, Depositor, Assignee and the Bank as of the date hereof that:

 

    	2

    	 

    

 

(a)          Attached
hereto as Attachment 2A is a true and accurate copy of the Sale and Servicing Agreement, and as Attachment 2B is a true and accurate
copy of the Purchase Agreement, each of which agreement is in full force and effect as of the date hereof and the provisions of
which have not been waived, amended or modified in any respect, nor has any notice of termination been given thereunder;

 

(b)          Assignor
is the lawful owner of its interests, rights and obligations under the Sale and Servicing Agreement to the extent of the Attachment
1A Mortgage Loans and the Purchase Agreement to the extent of the Attachment 1B Mortgage Loans, in each case free and clear from
any and all claims and encumbrances whatsoever, and upon the transfer of such interests, rights and obligations to Assignee as
contemplated herein, Assignee shall have good title to all of Assignee's interests, rights and obligations under the Sale and
Servicing Agreement to the extent of the Attachment 1A Mortgage Loans and the Purchase Agreement to the extent of the Attachment
1B Mortgage Loans, in each case free and clear of all liens, claims and encumbrances;

 

(c)          There
are no offsets, counterclaims or other defenses available to the Bank with respect to the Sale and Servicing Agreement or the
Purchase Agreement;

 

(d)          Assignor
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all
requisite power and authority to enter into and perform its obligations under each of the Sale and Servicing Agreement and the
Purchase Agreement;

 

(e)          Assignor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Assignor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of Assignor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Assignor is
now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
Assignor or its property is subject. The execution, delivery and performance by Assignor of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of Assignor.
This Agreement has been duly executed and delivered by Assignor and, upon the due authorization, execution and delivery by the
other parties hereto, will constitute the valid and legally binding obligation of Assignor enforceable against Assignor in accordance
with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar
laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless
of whether enforceability is considered in a proceeding in equity or at law; and

 

    	3

    	 

    

 

(f)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Assignor in connection with the execution, delivery or performance by Assignor of this Agreement, or
the consummation by it of the transactions contemplated hereby.

 

9.             Depositor
warrants and represents to, and covenants with, Assignor, Assignee and the Bank that as of the date hereof:

 

(a)          Depositor
is a Delaware corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation;

 

(b)          Depositor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Depositor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of Depositor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Depositor is
now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
Depositor or its property is subject. The execution, delivery and performance by Depositor of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Depositor.
This Agreement has been duly executed and delivered by Depositor and, upon the due authorization, execution and delivery by the
other parties hereto, will constitute the valid and legally binding obligation of Depositor enforceable against Depositor in accordance
with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar
laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless
of whether enforceability is considered in a proceeding in equity or at law; and

 

(c)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Depositor in connection with the execution, delivery or performance by Depositor of this Agreement,
or the consummation by it of the transactions contemplated hereby other than any that have been obtained or made.

 

10.          Assignee
warrants and represents to, and covenants with, Assignor, Depositor and the Bank that as of the date hereof:

 

(a)          Assignee
is a federal savings bank duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization;
and

 

(b)          Assignee
has been directed to enter into this Agreement pursuant to the provisions of the Pooling and Servicing Agreement. The execution,
delivery and performance by Assignee of this Agreement and the consummation by it of the transactions contemplated hereby, have
been duly authorized by all necessary action on part of Assignee. This Agreement has been duly executed and delivered by Assignee
and, upon the due authorization, execution and delivery by the other parties hereto, will constitute the valid and legally binding
obligation of Assignee enforceable against Assignee in accordance with its terms except as enforceability may be limited by bankruptcy,
reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally,
and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law.

 

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11.           The
Bank warrants and represents to, and covenants with, Assignor, Depositor and Assignee as of the date hereof that:

 

(a)          Attached
hereto as Attachment 2A is a true and accurate copy of the Sale and Servicing Agreement and as Attachment 2B is a true and accurate
copy of the Purchase Agreement, each of which agreement is in full force and effect as of the date hereof and the provisions of
which have not been waived, amended or modified in any respect, nor has any notice of termination been given thereunder;

 

(b)          The
Bank is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has
all requisite power and authority to service the Mortgage Loans pursuant to the Sale and Servicing Agreement and otherwise to
perform its obligations under the Sale and Servicing Agreement and the Purchase Agreement;

 

(c)          The
Bank has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of the Bank’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of the Bank’s charter or by-laws or any legal restriction, or any material agreement or instrument to which the Bank is
now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
the Bank or its property is subject. The execution, delivery and performance by the Bank of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of the Bank.
This Agreement has been duly executed and delivered by the Bank and, upon the due authorization, execution and delivery by Assignor,
Assignee and the Depositor, will constitute the valid and legally binding obligation of the Bank enforceable against the Bank
in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or
other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity
regardless of whether enforceability is considered in a proceeding in equity or at law; and

 

(d)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by the Bank in connection with the execution, delivery or performance by the Bank of this Agreement, or
the consummation by it of the transactions contemplated hereby.

 

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Restated Bank Representations and Warranties

 

12.           The
Bank hereby restates to Depositor and Assignee (a) the representations and warranties set forth in Subsection 7.01 of the Sale
and Servicing Agreement with respect to each Attachment 1A Mortgage Loan as of the related Closing Date (as such term is defined
in the Sale and Servicing Agreement); provided, however, that with respect to Mortgage Loan number 3000004081, the owner of the
Mortgaged Property is a limited liability company that is wholly-owned by the Mortgagor; (b) the representations and warranties
set forth in Subsection 7.02 of the Sale and Servicing Agreement as of the date hereof, with respect to each Attachment 1A Mortgage
Loan; (c) the representations and warranties set forth in Subsection 7.01 of the Purchase Agreement with respect to each
Attachment 1B Mortgage Loan as of the related Closing Date (as such term is defined in the Purchase Agreement); and (d) the
representations and warranties set forth in Subsection 7.02 of the Purchase Agreement as of the date hereof, with respect to each
Attachment 1B Mortgage Loan, in each case as if such representations and warranties were set forth herein in full.

 

In the event of a breach
of any representations and warranties referred to in clauses (a) or (b) above as of the date specified, Assignee shall be entitled
to all the remedies under the Sale and Servicing Agreement, subject to the rights of the Controlling Holder pursuant to Section
16.

 

Repurchase by Assignor Upon Certain
Breaches of Representations and Warranties

 

13.          
(a)          Assignor hereby covenants and agrees that, if a breach of any representation
and warranty set forth in Subsection 7.01 of the Sale and Servicing Agreement or Subsection 7.01 of the Purchase Agreement exists
on the date hereof that materially and adversely affects the value of any Mortgage Loan or the interest of Assignee in any Mortgage
Loan and such breach did not exist as of the Closing Date of that Mortgage Loan, Assignor shall have a period of 60 days from
the earlier of either discovery by or receipt of written notice from Assignee to Assignor of such breach within which to correct
or cure such breach. Each determination as to whether there has been such a breach shall be conducted on a Mortgage Loan-by-Mortgage
Loan basis. A breach of representations and warranties in Subsections 7.01(h), (bb), and (vv) of the Sale and Servicing Agreement
or the Purchase Agreement shall be deemed to materially and adversely affect the value of the related Mortgage Loan or the interest
of the Assignee therein. Assignor hereby covenants and agrees that if any breach cannot be corrected or cured within such 60 day
period, then Assignor shall, at its option, (i) substitute a mortgage loan for the defective Mortgage Loan in accordance with
the Sale and Servicing Agreement or the Purchase Agreement, as applicable, (ii) repurchase the related Mortgage Loan at the Repurchase
Price or (iii) except for a breach of a representation and warranty in Subsection 7.01(bb) of the Sale and Servicing Agreement
or the Purchase Agreement, make an indemnification payment in an amount equal to the reduction in value of such Mortgage Loan
as a result of such breach not later than 90 days after its discovery or receipt of notice of such breach and in the case of clauses
(ii) and (iii) above, by wire transfer of immediately available funds to such account as Assignee shall specify to Assignor.

 

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(b)          Assignor
and Assignee agree that the resolution of any controversy or claim arising out of or relating to an obligation or alleged obligation
of Assignor to repurchase a Mortgage Loan or Mortgage Loans pursuant to Section 13(a) above shall be by Arbitration administered
by the American Arbitration Association. If any such controversy or claim has not been resolved to the satisfaction of both Assignor
and Assignee, either party may commence Arbitration to resolve the dispute; provided that a party may commence Arbitration with
respect to one or more unresolved allegations only during the months of January, April, July and October, and all matters with
respect to which Arbitration has been commenced in any such month shall be heard in a single Arbitration in the immediately following
month or as soon as practicable thereafter; and provided further that if any Arbitration arising out of or relating to an obligation
or alleged obligation of the Bank to repurchase a Mortgage Loan relating to the same representation and warranty, has commenced
and is continuing, then such Arbitration shall be joined with the Arbitration commenced hereunder.

 

(c)          To
commence Arbitration, the moving party shall deliver written notice to the other party that it has elected to pursue Arbitration
in accordance with this Section 13, provided that if Assignor has not responded to Assignee's notification of a breach of a representation
and warranty, Assignee shall not commence Arbitration with respect to that breach before 60 days following such notification in
order to provide Assignor with an opportunity to respond to such notification. Within ten Business Days after a party has provided
notice that it has elected to pursue Arbitration, each party may submit the names of one or more proposed Arbitrators to the other
party in writing. If the parties have not agreed on the selection of an Arbitrator within five Business Days after the first such
submission, then the party commencing Arbitration shall, within the next five Business Days, notify the American Arbitration Association
in San Francisco, California and request that it appoint a single Arbitrator with experience in arbitrating disputes arising in
the financial services industry.

 

(d)          It
is the intention of the parties that Arbitration shall be conducted in as efficient and cost-effective a manner as is reasonably
practicable, without the burden of discovery. Accordingly, the Arbitrator will resolve the dispute on the basis of a review of
the written correspondence between the parties (including any supporting materials attached to such correspondence) conveyed by
the parties to each other in connection with the dispute prior to the delivery of notice to commence Arbitration; however, upon
a showing of good cause, a party may request the Arbitrator to direct the production of such additional information, evidence
and/or documentation from the parties that the Arbitrator deems appropriate. If requested by the Arbitrator or any party, any
hearing with respect to an Arbitration shall be conducted by video conference or teleconference except upon the agreement of both
parties or the request of the Arbitrator.

 

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(e)          The
finding of the Arbitrator shall be final and binding upon the parties. Judgment upon any arbitration award rendered may be entered
and enforced in any court of competent jurisdiction. The costs of the Arbitrator shall be shared equally between both parties.
Each party, however, shall bear its own attorneys fees and costs in connection with the Arbitration.

 

Recognition of Assignee

 

14.           (a)          From
and after the date hereof, subject to Sections 16 and 17 below, the Bank shall recognize Assignee as owner of the Mortgage Loans
and will service the Mortgage Loans and perform its obligations hereunder for the benefit of the Assignee in accordance with the
Sale and Servicing Agreement and the Purchase Agreement, each as modified hereby or as may be amended from time to time, as if
Assignee and the Bank had entered into a separate servicing agreement for the purchase and servicing of the Mortgage Loans.

 

(b)          From
and after the date hereof, the Bank further agrees that the provisions of the Sale and Servicing Agreement shall apply to all
of the Mortgage Loans as though all of the Mortgage Loans were sold by the Bank thereunder; provided, however, that Subsection
7.04 (Repurchase of Mortgage Loans with Early Payment Default) and Subsection 7.05 (Purchase Price Protection) of the Purchase
Agreement shall apply to the Attachment 1B Mortgage Loans as though set forth in the Sale and Servicing Agreement.

 

(c)          It
is the intention of Assignor, Depositor, the Bank and Assignee that this Agreement, which includes the Sale and Servicing Agreement,
shall constitute a separate and distinct servicing agreement, and the entire servicing agreement, between the Bank and Assignee
to the extent of the Mortgage Loans and shall be binding upon and for the benefit of the respective successors and assigns of
the parties hereto.

 

15.           The
Mortgage Loans shall be serviced by the Bank for Assignee in accordance with all applicable state, federal and local laws as well
as in conformity with the provisions of the applicable Mortgages and Mortgage Notes, and pursuant to the terms and conditions
of this Agreement.

 

Continuing Rights and Responsibilities

 

16.           (a)          Controlling
Holder Rights. The Bank agrees and acknowledges that Sequoia Mortgage Funding Corporation, an Affiliate of the Depositor,
in its capacity as the initial Controlling Holder pursuant to the Pooling and Servicing Agreement, and for so long as it is the
Controlling Holder, will assume all of Assignee's rights and all related responsibilities as Purchaser under each of the following
sections of the Sale and Servicing Agreement:

 

    	8

    	 

    

 

Sale and
Servicing Agreement:

 

	Section
    or Subsection	 	Matter
	 	 	 
	7.03, other than 7.03(c)	 	Repurchase and Substitution
	 	 	 
	11.20	 	Seller and Servicer Shall Provide Access and Information as Reasonably Required

 

(b)          Notwithstanding
Sections 1 and 2 above, Assignor reserves its rights under, and does not assign to Assignee or Depositor, the ongoing rights to
take action and the responsibilities of the Purchaser under the sections of the Purchase Agreement and the Sale and Servicing
Agreement listed below:

 

Purchase
Agreement:

 

	Section	 	Matter
	7.04	 	Repurchase of Mortgage Loans with Early Payment Default
	 	 	 
	7.05	 	Purchase Price Protection

 

Sale and
Servicing Agreement:

 

	Subsection	 	Matter
	7.05	 	Purchase Price Protection
	 	 	 
	Addendum I	 	Regulation AB Compliance Addendum

 

(c)          In
addition, the Bank agrees to furnish to Assignor and to Wells Fargo Bank, N.A., as master servicer or securities administrator
under the Pooling and Servicing Agreement (the “Master Servicer”), copies of reports, notices, statements and other
communications required to be delivered to the Purchaser by the Bank pursuant to any of the sections of the Sale and Servicing
Agreement referred to above and under the following sections, at the times therein specified:

 

    	9

    	 

    

 

Sale and
Servicing Agreement:

 

	Subsection	 	 
	 	 	 
	11.09	 	Transfer of Accounts
	 	 	 
	11.16	 	Statements to the Purchaser
	 	 	 
	Subsection 2.04 of Addendum I	 	Servicer Compliance Statement
	 	 	 
	Subsection 2.05 of Addendum I	 	Report on Assessment of Compliance and Attestation

 

(d)          If
there is no Controlling Holder under the Pooling and Servicing Agreement, then all rights and responsibilities assumed by the
Controlling Holder pursuant to Section 16(a) shall terminate and revert to Assignee. Assignor will provide thirty (30) days notice
to the Bank of any such termination of which Assignor has knowledge. Upon the first exercise of an enforcement of any rights pursuant
to Section 16(a), Assignee shall notify (or cause the Master Servicer to notify) the Bank that there is no longer a Controlling
Holder.

 

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Amendments to Sale and Servicing Agreement

 

17.           The
parties agree that the Sale and Servicing Agreement shall be amended, solely with respect to the Mortgage Loans, as follows:

 

(a)          Definitions.

 

(i)          The
definitions of “Arbitration,” “Business Day,” “Opinion of Counsel,” “Repurchase Price”
and “Servicing Fee Rate” set forth in Section 1 of the Sale and Servicing Agreement shall be deleted and replaced
in their entirety as follows, and the following definitions of “Affiliate,” “Clean-up Call,” “Controlling
Holder,” “Eligible Account,” “Eligible Investment,” “Principal Forbearance Amount,”
“Securities Administrator” and “Servicing Modification” shall be added to Section 1 of the Sale and Servicing
Agreement:

 

Affiliate:
With respect to any specified Person, another 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 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.

 

Arbitration:
Arbitration in accordance with the then governing Commercial Arbitration Rules of the American Arbitration Association and administered
by the American Arbitration Association, which shall be conducted in San Francisco, California or other place mutually acceptable
to the parties to the arbitration.

 

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

 

Clean-up
Call: The optional purchase of the mortgage loans subject to the Pooling and Servicing Agreement and all property acquired
in respect of any such mortgage loan remaining in the trust fund created pursuant to the Pooling and Servicing Agreement on any
date on which the aggregate stated principal balance is less than 10% of the aggregate stated principal balance as of September
1, 2012, in accordance with the Pooling and Servicing Agreement.

 

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Controlling
Holder: At any time, the holder of the majority of the class principal amount of the most subordinate class of certificates
issued pursuant to the Pooling and Servicing Agreement or, if the class principal amount of the most subordinate class of certificates
issued pursuant to the Pooling and Servicing Agreement is zero, the holder of the majority of the class principal amount of the
second most subordinate class of certificates issued pursuant to the Pooling and Servicing Agreement. If the class principal amount
of the second most subordinate class of certificates issued pursuant to the Pooling and Servicing Agreement is zero, then no entity
will have any rights as a Controlling Holder.

 

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) are rated in the highest rating
category of the Rating Agency with respect to short-term unsecured debt obligations and in one of the two highest rating categories
of Fitch, Inc. (the “Rating Agency”) with respect to long-term unsecured debt obligations at the time any amounts
are held on deposit therein. Eligible Accounts may bear interest. If the rating of the short-term or long-term unsecured debt
obligations of the depository institution or trust company that maintains the account or accounts is no longer in the highest
rating category of the Rating Agency with respect to short-term unsecured debt obligations or in one of the two highest rating
categories of the Rating Agency with respect to long-term unsecured debt obligations, 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;

 

    	12

    	 

    

 

(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;

 

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

 

Opinion
of Counsel: A written opinion of counsel, who may be salaried counsel for the Person on behalf of whom the opinion is being
given, reasonably acceptable to each Person to whom such opinion is addressed, and which must be Independent outside counsel with
respect to any such opinion of counsel concerning the taxation or the federal income tax status of each REMIC.

 

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

 

Repurchase
Price: With respect to any Mortgage Loan, a price equal to (i) the unpaid principal balance of the Mortgage Loan, plus (ii) interest
on such unpaid principal balance at the related Mortgage Loan Remittance Rate from the last date through which interest was last
paid by or on behalf of the Mortgagor to the last day of the month in which such repurchase occurs, plus (iii) reasonable and
customary third party expenses incurred in connection with the transfer of the Mortgage Loan being repurchased, minus (iv) any
amounts received in respect of such repurchased Mortgage Loan and being held in the Custodial Account for future distribution
in connection with such Mortgage Loan; which Repurchase Price proceeds shall be deposited in the Custodial Account for withdrawal
by the Servicer in accordance with Subsection 11.05; provided, however, that if at the time of repurchase the Servicer is not
the Seller or an Affiliate of the Seller, the amount described in clause (ii) shall be computed as the sum of (a) the Mortgage
Loan Remittance Rate and (b) the Servicing Fee Rate.

 

Servicing
Fee Rate: With respect to each Mortgage Loan, the per annum rate set forth on the related Mortgage Loan Schedule or if not
specified thereon, in the related PPTL, which rate shall be increased by the amount of any increase in the Mortgage Interest Rate
for any such Mortgage Loan pursuant to the terms of the related Mortgage Note due to the termination of an automatic debit or
direct deposit account.

 

Securities
Administrator: Wells Fargo Bank, N.A., not in its individual capacity but solely as Securities Administrator under the Pooling
and Servicing Agreement, or any successor in interest, or if any successor Securities Administrator shall be appointed as provided
in the Pooling and Servicing Agreement, then such successor Securities Administrator.

 

    	14

    	 

    

 

Servicing
Modification: Any reduction of the Mortgage Interest 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, default is reasonably foreseeable in accordance with the Sale and Servicing Agreement.

 

(b)          Servicing
Standard. In servicing the Mortgage Loans in accordance with this Agreement and Customary Servicing Procedures, the Servicer
shall service the Mortgage Loans with a view to the best interests of all holders of the Sequoia Mortgage Trust 2012-4 Mortgage
Pass-Through Certificates as a single class.

 

(c)          Segregated
Custodial Account. The Servicer shall establish a Custodial Account pursuant to Subsection 11.04 of the Sale and Servicing
Agreement which shall be titled “First Republic Bank, in trust for Christiana Trust, a division of Wilmington Savings Fund
Society, FSB, as trustee of the Sequoia Mortgage Trust 2012-4” (the “2012-4 Custodial Account”), which shall
be the Custodial Account under this Agreement for all purposes. If the 2012-4 Custodial Account is no longer an Eligible Account,
the Servicer shall transfer the 2012-4 Custodial Account to an account that is an Eligible Account. The 2012-4 Custodial Account
shall qualify as an Eligible Account. 

 

(d)          Determination
of Breach of Representations and Warranties. The following sentence shall be added as the new third sentence of Subsection
7.03(a):

 

Each determination as
to whether there has been such a breach shall be conducted on a Mortgage Loan-by-Mortgage Loan basis.

 

(e)          Transfer
of Eligible Investments. The following sentences shall be added at the end of the last paragraph of Subsection 11.04:

 

Notwithstanding
anything to the contrary in this Agreement, for all Eligible Investments rated at least "F1/A+"(short/long) that have
terms greater than 60 days, in the event of a downgrade of such Eligible Investment below "F1" (or "A+" if
no short term rating) Servicer agrees to remove such Eligible Investment within 60 days of such downgrade. Servicer acknowledges
and agrees that Servicer shall bear any losses incurred with respect to removal of such Eligible Investment following such a downgrade
and that any losses shall be immediately deposited by the Servicer in the 2012-4 Custodial Account, as appropriate, out of the
Servicer’s own funds, with no right to reimbursement therefor.

 

    	15

    	 

    

 

(f)          Transfer
of Accounts. The second sentence of Subsection 11.09 shall be deleted and replaced in its entirety as follows:

 

Pursuant to Subsections 11.04 and 11.06, such transfer
shall be made only with the Purchaser’s approval, which shall not unreasonably be withheld.

 

(g)          Form
of Monthly Report. The Servicer shall provide monthly accounting reports to the Purchaser and Master Servicer, pursuant to
Subsection 11.16 of the Sale and Servicing Agreement, with the information required by the monthly reporting format of the Master
Servicer as previously provided to the Servicer by Assignor. Such reports shall be provided not later than the fifth (5th)
Business Day of each calendar month.

 

(h)          Shorter
Cure Period for Failure to Provide Distribution Data. An additional “Event of Default” shall be listed in Subsection
13.01, to be inserted after clause (h), to read in its entirety as follows:

 

or (i)
Servicer shall fail to provide to Purchaser the data required to be provided pursuant to the first paragraph of Subsection 11.16
and such failure shall continue for three Business Days after notice of such failure has been given to Servicer by Purchaser;

 

(i)          Clean-up
Call. A new Section 33 shall be added to the Sale and Servicing Agreement, to read in its entirety as follows:

 

SECTION 33. Clean-up Call.
In the event a Clean-up Call is exercised, the purchaser of the remaining Mortgage Loans (a) shall have all right, title and interest
in, to and under the Sale and Servicing Agreement to the extent relating to such Mortgage Loans and (b) shall be bound as “Purchaser”
under the Sale and Servicing Agreement from and after the date it exercises the Clean-up Call. The remaining Mortgage Loans shall
be serviced by the Bank for such purchaser in accordance with the terms and conditions of the Sale and Servicing Agreement.         

 

(j)          REMIC
Provisions.

 

(i)          The
following definition of “REMIC Provisions” is hereby added to Section 1 of the Sale and Servicing Agreement:

 

REMIC Provisions:Sections
860A through 860G of the Internal Revenue Code; such other provisions of the Code as relate to an entity created thereunder; the
regulations promulgated pursuant such sections and provisions of the Code; and published guidance issued by the Internal Revenue
Service relating to such Code sections and regulations.

 

(ii)         The
following paragraph shall be added to the end of Subsection 11.13, to read in its entirety as follows:

 

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If a Mortgage
Loan is held by a REMIC, the Servicer shall not acquire any real property (or personal property incident to such real property)
in respect of such Mortgage Loan except in connection with a default or imminent default of such Mortgage Loan. In the event that
a REMIC acquires any real property (or personal property incident to such real property) in connection with a default or imminent
default of a Mortgage Loan, such property shall be disposed of by the Servicer as soon as practicable in a manner that, consistent
with prudent mortgage loan servicing practices, maximizes the net present value of the recovery to the trust formed pursuant to
the Pooling and Servicing Agreement (the “Trust”), but in any event within three years after its acquisition by such
REMIC unless the Servicer provides to the Purchaser and the Securities Administrator an Opinion of Counsel to the effect that
the holding by such REMIC of such Mortgaged Property subsequent to three years after its acquisition will not result in the imposition
of taxes on “prohibited transactions” on such REMIC as defined in Section 860F of the Code or under the law of any
state in which real property securing a Mortgage Loan owned by such REMIC is located or cause such REMIC to fail to qualify as
a REMIC for federal income tax purposes or for state tax purposes under the laws of any state in which real property securing
a Mortgage Loan owned by such REMIC is located at any time that any mortgage pass-through certificates representing interests
in such REMIC are outstanding. The Servicer shall conserve, protect and operate each such property for such REMIC solely for the
purpose of its prompt disposition and sale in a manner which does not cause such property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) or result in the receipt by such REMIC of any “income from non-permitted
assets” within the meaning of Section 860F(a)(2)(B) of the Code or any “net income from foreclosure property”
which is subject to taxation under the REMIC Provisions. Pursuant to its efforts to sell such property, the Servicer shall either
itself or through an agent selected by the Servicer protect and conserve such property in the same manner and to such extent as
is customary in the locality where such property is located and may, incident to its conservation and protection of the assets
of the Trust, rent the same, or any part thereof, as the Servicer deems to be in the best interest of the Trust for the period
prior to the sale of such property. Additionally, the Servicer shall perform the tax withholding and shall file information returns
with respect to the receipt of mortgage interests received in a trade or business, the reports of foreclosures and abandonments
of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged
Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the Purchaser and the Securities
Administrator an Officers’ Certificate on or before March 31 of each year stating that such reports have been filed. Such
reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050H, 6050J and 6050P
of the Code.

 

    	17

    	 

    

 

(iii)        The
following additional provisions shall be added after Subsection 11.23, to read in its entirety as follows:

 

Subsection
11.24 Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which the
Mortgage Loans and REO Property are held, the Servicer shall not take any action, cause the 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
(i) endanger the status of the REMIC as a REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited
to the tax on “prohibited transactions” as defined in Section 860F(a)(2) of the Code and the tax on “contribution”
to a REMIC set forth in Section 860G(d) of the Code unless the Servicer has received an Opinion of Counsel (at the expense of
the party seeking to take such actions) to the effect that the contemplated action will not endanger such REMIC status or result
in the imposition of any such tax.

 

(k)          Avoidance
of Consolidation.

 

(i)          The
following Subsection 7.06 shall be added at the end of Section 7, to read in its entirety as follows:

 

Subsection
7.06 Avoidance of Consolidation.

 

(a)          The
Servicer covenants and agrees that it shall not hold or purchase any certificate (a “Certificate”) issued by the trust
created by the Pooling and Servicing Agreement (the “Trust”) if its holding or purchase of such Certificate (or interest
therein) would cause the Servicer to be required to consolidate any assets of the Trust on its financial statements under U.S.
generally accepted accounting principles (“Consolidate” or “Consolidation”). The 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 Servicer to be required to Consolidate any assets of the Trust on
its financial statements.

 

    	18

    	 

    

 

If the 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 Servicer holds or purchases a Certificate
(or interest therein) in violation of the restrictions in this Subsection 7.06 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 Servicer shall promptly endorse and deliver such Certificate (or otherwise transfer a book-entry
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 Servicer. The terms and conditions of any sale under this Subsection 7.06 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 Servicer shall indemnify and hold harmless the
Depositor and the Trust from and against any and all losses, liabilities, claims, costs or expenses incurred by such parties as
a result of such holding or purchase resulting in a Consolidation.

 

(b)          The
Servicer covenants and agrees that it shall not transfer its servicing rights and duties under this Agreement and the Sale and
Servicing Agreement to an insured depository institution, as such
term is defined in the Federal Deposit Insurance Act (an “IDI”) (an IDI in such capacity, an “IDI Servicer Transferee”)
unless the Purchaser and the Servicer shall have received a representation from the IDI Servicer Transferee that the acquisition
of such servicing rights and duties will not cause the IDI Servicer Transferee to be required to Consolidate any assets of the
Trust on its financial statements. Any IDI Servicer Transferee shall be deemed to have represented by virtue of its acquisition
of such servicing rights and duties that such acquisition will not cause Consolidation. Any IDI Servicer Transferee who acquires
such servicing rights and duties without providing the representation described above or whose acquisition of such servicing rights
and duties has required it to Consolidate any assets of the Trust on its financial statements shall indemnify and hold harmless
the Servicer, the Depositor and the Trust from and against any and all losses, liabilities, claims, costs or expenses incurred
by such parties as a result of such acquisition.

 

(ii) An
additional “Event of Default” shall be listed in Subsection 13.01, to be inserted after clause (i) added in Section
14(h) of this Agreement above, to read in its entirety as follows:

 

or (j)(A)
the purchase or holding by the Servicer of any Certificate such that the Servicer is required to Consolidate any assets of the
Trust on its financial statements, provided that such purchase or holding of a Certificate shall not constitute an Event of Default
if, within 45 days of (1) the date of such purchase or acquisition or (2) if such requirement to Consolidate is not effective
on the date of such purchase or acquisition, the date the Servicer becomes aware of such requirement to Consolidate, the Servicer
causes such requirement to Consolidate not to apply; or (B) the failure of the Servicer to obtain from an IDI Servicer Transferee
the representation described in Section 7.06(b) prior to the transfer to such IDI Servicer Transferee of any servicing rights
or duties.

 

    	19

    	 

    

 

(l)          Foreclosure
Proceedings. The first sentence of Subsection 11.13 is hereby deleted and replaced in its entirety with the following:

 

Subject to Subsection
11.02, in the event that title to the Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed
or certificate of sale shall be taken in the name of the Trust, where permitted by applicable law or regulation, and where not
so permitted, in the name of the trustee of the Trust or its nominee.

 

(m)          Modification
Payment Plans and Foreclosure Approvals.

 

(i)          The
first sentence of the fifth paragraph of Subsection 11.01 is hereby deleted and replaced in its entirety with the following:

 

Consistent
with the terms of this Agreement, and subject to the REMIC Provisions if the Mortgage Loans have been transferred to a REMIC,
the Servicer may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with
any such term or in any manner grant indulgence to any Mortgagor; provided, however, that the Servicer shall not enter
into any payment plan or agreement to modify payments with a Mortgagor lasting more than twelve (12) months or permit any
modification with respect to any Mortgage Loan that would change the Mortgage Interest Rate, the Lifetime Rate Cap (if applicable),
the Initial Rate Cap (if applicable), the Periodic Rate Cap (if applicable) or the Gross Margin (if applicable), agree to the
capitalization of arrearages, including interest, fees or expenses owed under the Mortgage Loan, make any future advances or extend
the final maturity date with respect to such Mortgage Loan (provided that the Servicer shall in no event extend the final maturity
date past September 25, 2042 or, if such 25th day is not a Business Day, the next succeeding Business Day), or accept substitute
or additional collateral or release any collateral for such Mortgage Loan, unless (1) the Mortgagor is in default with respect
to the Mortgage Loan, or such default is, in the judgment of the Servicer, imminent, (2) the modification is in accordance with
the customary procedures of the Servicer, which may change from time to time, or industry-accepted programs, and (3) the Purchaser
has approved such action.

 

(ii)         The
third sentence of the last paragraph of Subsection 11.01 is hereby deleted and replaced in its entirety with the following:

 

In the event
(a) the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances
or wastes and (b) the Purchaser provides written approval for the Servicer to proceed with foreclosure or acceptance of a deed
in lieu of foreclosure, the Servicer shall be reimbursed for all reasonable costs associated with such foreclosure or acceptance
of a deed in lieu of foreclosure and any related environmental clean up costs, as applicable, from the related Liquidation Proceeds,
or if the Liquidation Proceeds are insufficient fully to reimburse the Servicer, the Servicer shall be entitled to be reimbursed
from amounts in the Custodial Account pursuant to Subsection 11.05 hereof.

 

    	20

    	 

    

 

(n)          Servicer
Reports. The Servicer shall provide monthly reports to the Purchaser pursuant to Subsection 11.16 of the Sale and Servicing
Agreement in the formats attached hereto as Exhibits 10 and 11, or in such other format as the Servicer, the Purchaser and the
Depositor shall agree in writing.

 

(o)          Assumption
Agreements. The first sentence of Subsection 11.18 is hereby deleted and replaced in its entirety with the following:

 

The Servicer
will use its best efforts to enforce any “due-on-sale” provision contained in any Mortgage or Mortgage Note; provided
that, subject to the Purchaser’s prior approval for the release of liability from the original borrower, the Servicer
shall permit such assumption if so required in accordance with the terms of the Mortgage or the Mortgage Note.

 

(p)          Indemnification
Expenses. The first sentence of Subsection 12.01(b) is hereby deleted and replaced in its entirety with the following:

 

The Servicer
shall immediately notify the Purchaser if a claim is made by a third party with respect to this Agreement or the Mortgage Loans,
and the Servicer shall assume the defense of any such claim and pay all expenses in connection therewith, including counsel fees.

 

(q)          The
rights under the Purchase Agreement and the Sale and Servicing Agreement assigned to the Depositor and the Assignee pursuant to
this Agreement shall be under the Purchase Agreement and the Sale and Servicing Agreement as amended by this Agreement.

 

Miscellaneous

 

18.         All
demands, notices and communications related to the Mortgage Loans, the Sale and Servicing Agreement and this Agreement shall be
in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid,
as follows:

 

(a)          In
the case of the Bank,

 

First Republic Bank

111 Pine Street

San Francisco, CA 94111

Attention: Tony Sachs

 

    	21

    	 

    

 

with a copy to the General
Counsel at the same address

 

(b)          In
the case of Assignee,

 

Christiana Trust, a
division of Wilmington Savings Fund Society, FSB

500 Delaware Avenue,
11th Floor

Wilmington, Delaware,
19801

Attention: Corporate
Trust

 

(c)          In
the case of Depositor,

 

Sequoia Residential
Funding, Inc.

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

(d)          In
the case of Assignor,

 

Redwood Residential
Acquisition Corporation

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

(e)          In
the case of Master Servicer,

 

Wells Fargo Bank, N.A.

9062 Old Annapolis Road

Columbia, Maryland 21045

Telephone number: (410) 884-2000

Facsimile number: (410) 715-2380

Attention: Client Manager —
Sequoia Mortgage Trust 2012-4

 

    	22

    	 

    

 

(f)          In
the case of the initial Controlling Holder,

 

Sequoia Mortgage Funding
Corporation

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

19.         This
Agreement shall be construed in accordance with the laws of the State of New York, except to the extent preempted by Federal law,
and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without regard
to the conflicts of laws provisions of the State of New York or any other jurisdiction.

 

20.         No
term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the
party against whom such waiver or modification is sought to be enforced.

 

21.         This
Agreement shall inure to the benefit of the successors and assigns of the parties hereto. Any entity into which Assignor, Depositor,
Assignee or the Bank may be merged or consolidated shall, without the requirement for any further writing, be deemed Assignor,
Depositor, Assignee or the Bank, respectively, hereunder.

 

22.         This
Agreement shall survive the conveyance of the Mortgage Loans, the assignment of each of the Sale and Servicing Agreement to the
extent of the Attachment 1A Mortgage Loans and the assignment of the Purchase Agreement to the extent of the Attachment 1B Mortgage
Loans by Assignor to Depositor and by Depositor to Assignee, and the termination of each of the Sale and Servicing Agreement and
the Purchase Agreement.

 

23.         This
Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and
all such counterparts shall constitute one and the same instrument.

 

24.         The
Controlling Holder under the Pooling and Servicing Agreement 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 Bank hereby consents to such exercise and enforcement.

 

    	23

    	 

    

 

25.         It
is expressly understood and agreed by the parties hereto that insofar as this Agreement is executed by the Trustee (i) this Agreement
is executed and delivered by Christiana Trust, a division of Wilmington Savings Fund Society, FSB (“Christiana Trust”)
not in its individual capacity but solely as Trustee on behalf of the trust created by the Pooling and Servicing Agreement referred
to herein (the “Trust”) in the exercise of the powers and authority conferred upon and vested in it, and as directed
in the Pooling and Servicing Agreement, (ii) each of the undertakings and agreements herein made on behalf of the Trust is made
and intended not as a personal undertaking or agreement of or by Christiana Trust but is made and intended for purposes of binding
only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of Christiana Trust, individually
or personally, to perform any covenant either express or implied in this Agreement, all such liability, if any, being expressly
waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (iv) under no circumstances
shall Christiana Trust in its individual capacity or in its capacity as Trustee be personally liable for the payment of any indebtedness,
amounts or expenses owed by the Purchaser under the Sale and Servicing Agreement (such indebtedness, expenses and other amounts
being payable solely from and to the extent of funds of the Trust) or be personally liable for the breach or failure of any obligation,
representation, warranty or covenant made under this Agreement or any other related documents.

 

26.         Master
Servicer. The Bank hereby acknowledges that the Assignee has appointed Wells Fargo Bank, N.A. to act as master servicer and
securities administrator under the Pooling and Servicing Agreement and hereby agrees to treat all inquiries, demands, instructions,
authorizations and other communications from the Master Servicer as if the same had been received from the Assignee. The Master
Servicer, acting on behalf of the Assignee, shall have the rights of the Assignee as the Purchaser under this Agreement, including,
without limitation, the right to enforce the obligations of the Bank and the Servicer hereunder and under the Sale and Servicing
Agreement and the right to exercise the remedies of the Purchaser hereunder and under the Sale and Servicing Agreement, other
than the rights assumed by the Controlling Holder assumed under Section 13(a) above.

 

The Bank shall make
all remittances due by it to the Purchaser with respect to the Mortgage Loans to the following account by wire transfer of immediately
available funds:

 

Wells Fargo Bank, N.A.

San Francisco, California

ABA# 121-000-248

Account #3970771416

Account Name: SAS Clearing

FFC: Account #48174300, Sequoia
Mortgage Trust 2012-4 Distribution Account

 

27.         The
Bank acknowledges that the custodian will be Wells Fargo Bank, N.A. acting pursuant to the Custodial Agreement. Requests for Mortgage
Loan Documents required by the Bank to perform its duties under the Sale and Servicing Agreement shall be directed to Wells Fargo
Bank, N.A., as custodian, using the form of Request for Release in the form of Exhibit F hereto. The Bank shall provide the Custodian
with the specimen signatures of the Bank's authorized servicing representatives using the form in Exhibit D-3 hereto. Notwithstanding
Section 10 of the Sale and Servicing Agreement, the Bank shall pay shipping expenses for any Mortgage Loan Documents if there
has been a breach of any representation or warranty made with respect to the related Mortgage Loan in Subsection 7.01 of the Sale
and Servicing Agreement.

 

    	24

    	 

    

 

28.         Helping
Families Act Notice. Assignor hereby requests that the Bank furnish each Mortgagor with the notice described in Subsection
6.04 of the Sale and Servicing Agreement, in the form attached as Exhibit 8 thereto and using Christiana Trust, a division of
Wilmington Savings Fund Society, FSB, as trustee of the Sequoia Mortgage Trust 2012-4 as the investor name, in accordance with
the terms of Subsection 6.04 therein, and the Bank hereby covenants that it shall furnish each Mortgagor with such notice as provided
therein.

 

29.         Rule
17g-5 Compliance. The Bank hereby agrees that it shall provide information with respect to the Mortgage Loans or the origination
or servicing thereof to any Rating Agency or nationally recognized statistical rating organization (“NRSRO”) via electronic
mail at rmbs17g5informationprovider@wellsfargo.com, with a subject reference of “SEMT 2012-4” and an identification
of the type of information being provided in the body of such electronic mail. The Securities Administrator, as the initial Rule
17g-5 Information Provider (the “Rule 17g-5 Information Provider”) shall notify the Bank in writing of any change
in the identity or contact information of the Rule 17g-5 Information Provider. The Bank shall have no liability for (i) the Rule
17g-5 Information Provider’s failure to post information provided by it in accordance with the terms of this Agreement or
(ii) any malfunction or disabling of the website maintained by the Rule 17g-5 Information Provider. None of the foregoing restrictions
in this Section 29 prohibit or restrict oral or written communications, or providing information, between the Bank, on the one
hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review
of the ratings it assigns to the Bank, (ii) such Rating Agency’s or NRSRO’s approval of the Bank as a residential
mortgage master, special or primary servicer, or (iii) such Rating Agency’s or NRSRO’s evaluation of the Bank’s
servicing operations in general; provided, however, that the Bank shall not provide any information relating to the Mortgage Loans
to such Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO unless: (x) borrower,
property or deal specific identifiers are redacted; or (y) such information has already been provided to the Rule 17g-5 Information
Provider.

 

    	25

    	 

    

 

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

 

	 	REDWOOD RESIDENTIAL ACQUISITION CORPORATION
	 	Assignor
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	SEQUOIA RESIDENTIAL FUNDING, INC.
	 	Depositor
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Christiana Trust, a division of Wilmington Savings Fund Society, FSB,
    not in its individual capacity but solely as Trustee,
	 	Assignee
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	FIRST REPUBLIC BANK
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	Accepted and agreed to by:	 
	 	 
	WELLS FARGO BANK, N.A.	 
	Master Servicer	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

  

Signature
Page to Assignment, Assumption and Recognition Agreement – First Republic (SEMT 2012-4)

  

    	 

    	 

    

 

ATTACHMENT 1A

 

MORTGAGE LOAN SCHEDULE

 

    	27

    	 

    

  

	Primary
 Servicer	 	Servicing Fee %	 	Servicing
 Fee—Flatdollar	 	Servicing Advance
 Methodology	 	Originator	 	Loan Group	 	Loan Number	 	Amortization
 Type	 	Lien Position	 	HELOC
 Indicator	 	Loan Purpose	 	Cash Out
 Amount
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	993000006	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	993000012	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002991	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003857	 	1	 	1	 	0	 	3	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002907	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002963	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002932	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002925	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002965	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002941	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002542	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003059	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002966	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002945	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002715	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003133	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002971	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002956	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002687	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002717	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003019	 	1	 	1	 	0	 	3	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002718	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002720	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002787	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002673	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002708	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004363	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002788	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002829	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000002830	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003060	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003036	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003061	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003271	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003082	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004104	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003241	 	1	 	1	 	0	 	3	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003242	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003272	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003382	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004470	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003914	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003890	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003726	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003631	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003671	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003755	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003805	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003941	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003915	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004143	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003986	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000003987	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004080	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004081	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004144	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004426	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004558	 	1	 	1	 	0	 	3	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004490	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004560	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004986	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004579	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004623	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004985	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004054	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000004987	 	1	 	1	 	0	 	7	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3000005068	 	1	 	1	 	0	 	7	 	 

 

    	28

    	 

    

 

	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	 	Hybrid Period of
 Most Senior Lien

(in
 months)	 	Neg Am Limit of
 Most Senior Lien	 	Junior Mortgage
 Balance	 	Origination Date of
 Most Senior Lien
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	50000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	400000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	4	 	0	 	 	 	 	 	 	 	500000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	770000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	400000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	130000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	109500.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	50000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	1815000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	100000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	92500.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	100000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	200000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	100000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 

 

    	29

    	 

    

 

	Origination Date	 	Original Loan
 Amount	 	Original
 Interest
 Rate	 	Original
 Amortization
 Term	 	Original Term

to
 Maturity	 	First Payment
 Date
 of Loan	 	Interest Type
 Indicator	 	Original Interest
 Only Term	 	Buy Down Period	 	HELOC Draw
 Period	 	Current Loan
 Amount	 	Current
 Interest
 Rate
	20110209	 	870000.00	 	0.048500	 	360	 	360	 	20110401	 	1	 	0	 	0	 	 	 	849976.85	 	0.048500
	20110603	 	1265625.00	 	0.051000	 	360	 	360	 	20110801	 	1	 	120	 	0	 	 	 	1265625.00	 	0.051000
	20120216	 	1090300.00	 	0.049000	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1082211.06	 	0.049000
	20120524	 	1250000.00	 	0.042500	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	1244815.17	 	0.042500
	20120210	 	1075000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1066192.90	 	0.043500
	20120117	 	780000.00	 	0.044500	 	360	 	360	 	20120301	 	1	 	120	 	0	 	 	 	780000.00	 	0.044500
	20120131	 	1036000.00	 	0.042000	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1027282.71	 	0.042000
	20120118	 	718000.00	 	0.043000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	711063.36	 	0.043000
	20120222	 	1300000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	120	 	0	 	 	 	1300000.00	 	0.043500
	20120222	 	1092000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1083053.61	 	0.043500
	20120201	 	1500000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1485552.56	 	0.043500
	20120302	 	1591200.00	 	0.041500	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1579962.64	 	0.041500
	20120216	 	850000.00	 	0.045000	 	360	 	360	 	20120401	 	1	 	120	 	0	 	 	 	845507.13	 	0.045000
	20120301	 	653600.00	 	0.043500	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	649145.83	 	0.043500
	20120209	 	1667000.00	 	0.042000	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1652973.25	 	0.042000
	20120313	 	988500.00	 	0.045000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	981942.44	 	0.045000
	20120301	 	1280200.00	 	0.044500	 	360	 	360	 	20120501	 	1	 	120	 	0	 	 	 	1280200.00	 	0.044500
	20120316	 	1350000.00	 	0.042000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1340550.40	 	0.042000
	20120130	 	880000.00	 	0.042500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	872660.81	 	0.042500
	20120214	 	1000000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	915621.97	 	0.043500
	20120222	 	1100000.00	 	0.046000	 	360	 	360	 	20120401	 	1	 	120	 	0	 	 	 	1100000.00	 	0.046000
	20120315	 	1105000.00	 	0.043500	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1097469.60	 	0.043500
	20120209	 	940000.00	 	0.044000	 	360	 	360	 	20120401	 	1	 	120	 	0	 	 	 	940000.00	 	0.044000
	20120306	 	1312500.00	 	0.042500	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1303394.33	 	0.042500
	20120209	 	660000.00	 	0.043000	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	654544.38	 	0.043000
	20120216	 	1288000.00	 	0.043500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	1277447.85	 	0.043500
	20120615	 	615000.00	 	0.041000	 	240	 	240	 	20120801	 	1	 	0	 	0	 	 	 	611678.30	 	0.041000
	20120223	 	1100000.00	 	0.042500	 	360	 	360	 	20120401	 	1	 	120	 	0	 	 	 	1100000.00	 	0.042500
	20120223	 	672000.00	 	0.044500	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	666592.09	 	0.044500
	20120216	 	550000.00	 	0.043000	 	360	 	360	 	20120401	 	1	 	0	 	0	 	 	 	545453.64	 	0.043000
	20120229	 	1000000.00	 	0.043000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	993123.97	 	0.043000
	20120305	 	700000.00	 	0.043500	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	695229.60	 	0.043500
	20120301	 	780000.00	 	0.043000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	774636.69	 	0.043000
	20120309	 	1300000.00	 	0.043000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1291061.17	 	0.043000
	20120309	 	900000.00	 	0.044000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	893789.24	 	0.042500
	20120604	 	1248750.00	 	0.044500	 	360	 	360	 	20120801	 	1	 	120	 	0	 	 	 	1248750.00	 	0.044500
	20120413	 	1650000.00	 	0.043000	 	360	 	360	 	20120601	 	1	 	120	 	0	 	 	 	1650000.00	 	0.043000
	20120302	 	1250000.00	 	0.042000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	1241250.37	 	0.042000
	20120524	 	1500000.00	 	0.043500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1495933.28	 	0.043500
	20120322	 	710000.00	 	0.043000	 	360	 	360	 	20120501	 	1	 	0	 	0	 	 	 	705118.03	 	0.043000
	20120524	 	1340000.00	 	0.042500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1336301.13	 	0.042500
	20120531	 	744000.00	 	0.043000	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	740941.53	 	0.043000
	20120522	 	1000000.00	 	0.043000	 	360	 	360	 	20120701	 	1	 	120	 	0	 	 	 	1000000.00	 	0.043000
	20120411	 	912000.00	 	0.047500	 	360	 	360	 	20120601	 	1	 	0	 	0	 	 	 	907382.97	 	0.047500
	20120618	 	1088000.00	 	0.045500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1085155.06	 	0.045500
	20120426	 	1810000.00	 	0.043000	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	1802559.37	 	0.043000
	20120531	 	656863.00	 	0.044000	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	655098.14	 	0.044000
	20120417	 	800000.00	 	0.041500	 	360	 	360	 	20120601	 	1	 	0	 	0	 	 	 	795488.01	 	0.041500
	20120601	 	800000.00	 	0.043000	 	360	 	360	 	20120801	 	1	 	120	 	0	 	 	 	800000.00	 	0.043000
	20120531	 	662000.00	 	0.042000	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	659229.44	 	0.042000
	20120619	 	1000000.00	 	0.041000	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	997164.53	 	0.041000
	20120611	 	618000.00	 	0.042500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	616294.10	 	0.042500
	20120530	 	1023200.00	 	0.043000	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	1018993.79	 	0.043000
	20120514	 	2500000.00	 	0.041000	 	360	 	360	 	20120701	 	1	 	120	 	0	 	 	 	2500000.00	 	0.041000
	20120618	 	1050000.00	 	0.042500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1047101.64	 	0.042500
	20120607	 	735000.00	 	0.041000	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	732915.93	 	0.041000
	20120605	 	1040000.00	 	0.044000	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1037205.72	 	0.044000
	20120622	 	2000000.00	 	0.044500	 	360	 	360	 	20120801	 	1	 	120	 	0	 	 	 	2000000.00	 	0.044500
	20120608	 	1090000.00	 	0.038500	 	240	 	240	 	20120801	 	1	 	0	 	0	 	 	 	1083945.76	 	0.038500
	20120607	 	775000.00	 	0.044500	 	360	 	360	 	20120801	 	1	 	120	 	0	 	 	 	775000.00	 	0.044500
	20120620	 	1720000.00	 	0.040500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	1715079.30	 	0.040500
	20120606	 	531750.00	 	0.041500	 	360	 	360	 	20120801	 	1	 	0	 	0	 	 	 	530255.65	 	0.041500
	20120702	 	625000.00	 	0.042000	 	360	 	360	 	20120901	 	1	 	0	 	0	 	 	 	624131.14	 	0.042000
	20120625	 	1732500.00	 	0.040500	 	240	 	240	 	20120801	 	1	 	0	 	0	 	 	 	1723089.88	 	0.040500
	20120522	 	610000.00	 	0.042500	 	360	 	360	 	20120701	 	1	 	0	 	0	 	 	 	607469.80	 	0.042500
	20120628	 	1052000.00	 	0.042000	 	360	 	360	 	20120901	 	1	 	120	 	0	 	 	 	1052000.00	 	0.042000
	20120712	 	1000846.00	 	0.040500	 	360	 	360	 	20120901	 	1	 	120	 	0	 	 	 	1000846.00	 	0.040500

 

    	30

    	 

    

 

	Current
 Payment
 Amount Due	 	Interest Paid
 Through Date	 	Current

Payment
 Status	 	Index Type	 	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
	4590.92	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5378.91	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5786.51	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6149.25	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5351.48	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2892.50	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5066.22	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3553.18	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4712.50	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5436.10	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7467.18	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7734.88	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3170.65	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3253.70	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8151.92	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5008.58	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4747.41	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6601.73	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4329.07	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4978.12	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4216.67	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5500.82	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3446.67	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6456.71	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3266.15	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6411.82	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3759.27	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3895.83	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3384.99	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2721.79	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4948.71	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3484.68	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3860.00	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6433.33	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4427.62	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4630.78	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5912.50	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6112.71	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7467.18	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3513.59	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6591.99	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3681.84	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3583.33	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4757.42	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5545.11	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8957.17	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3289.31	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3888.83	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2866.67	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3237.29	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4831.98	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3040.19	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5063.52	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8541.67	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5165.37	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3551.51	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5207.91	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7416.67	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6519.35	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2873.96	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8261.20	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2584.85	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3056.36	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	10544.32	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3000.83	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3682.00	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3377.86	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	31

    	 

    

 

	Subsequent
 Interest
 Rate Cap
 (Change Down)	 	Subsequent
 Interest
 Rate Cap
 (Change
 Up)	 	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
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	32

    	 

    

 

	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	 	Number of
 Mortgaged
 Properties	 	Total Number of
 Borrowers
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	324	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	76	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	304	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	31	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	75	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	22	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	282	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	1	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	82	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	44	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	280	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	71	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	294	 	3	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	311	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	302	 	8	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	263	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	286	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	98	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	358	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	308	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	343	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	283	 	4	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	285	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	165	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	145	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	95	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	232	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	318	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	247	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	310	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	53	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	341	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	100	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	277	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	174	 	3	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	36	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	149	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	274	 	4	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	240	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	245	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	276	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	61	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	18	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 	 	 	27	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	28	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	96	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	60	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	47	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	51	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	361	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	7	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	5	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	13	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	316	 	3	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	12	 	7	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	309	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	36	 	 	 	32	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	338	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	16	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	298	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	354	 	3	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	363	 	4	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	279	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	146	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	265	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	321	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 	 	 	375	 	1	 	 

 

    	33

    	 

    

 

	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	 	Primary Wage
 Earner Original
 FICO: Experian	 	Primary Wage
 Earner Original
 FICO: TransUnion	 	Secondary Wage
 Earner Original
 FICO: Equifax	 	Secondary Wage
 Earner Original
 FICO: Experian
	0	 	 	 	4	 	0	 	2	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	0	 	5	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3	 	9	 	6	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	16	 	0	 	11	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	10	 	6	 	3	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	17	 	0	 	3	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	6	 	0	 	3	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	5	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	5	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	18	 	 	 	7	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	8	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	5	 	3	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	17	 	 	 	2	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	1	 	4	 	3	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	20	 	20	 	20	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	20	 	 	 	4	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	5	 	 	 	3	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	7	 	10	 	4	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	6	 	4	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	16	 	1	 	1	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	9	 	2	 	2	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	1	 	 	 	35	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	10	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	10	 	 	 	2	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0.2	 	2	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3.5	 	8	 	3	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	7	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	2	 	3	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	8	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	1	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	4	 	1	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	1	 	 	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	10	 	7	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	3	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	25	 	10	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	4	 	 	 	3	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	18	 	4	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	8	 	0	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	2	 	5	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	2	 	0.5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	15	 	2	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	10	 	 	 	1	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	5	 	 	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	0	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3	 	0	 	6	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	9	 	2	 	9	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	1	 	 	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	12	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	0	 	2.5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	2	 	0	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	15	 	15	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	2	 	5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	15	 	0	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	5.5	 	5.5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	15	 	15	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	22	 	5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	29	 	 	 	10	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	1.5	 	2	 	12	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	23	 	0	 	1	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	 	 	0	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	20	 	5	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	20	 	 	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	2	 	2	 	4	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	11	 	 	 	2	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3	 	 	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3.75	 	 	 	0	 	1	 	 	 	 	 	 	 	 	 	 	 	 

 

    	34

    	 

    

 

	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	 	Most Recent
 VantageScore
 Method	 	VantageScore
 Date	 	Credit Report:
 Longest Trade
 Line	 	Credit Report:
 Maximum
 Trade
 Line	 	Credit Report:
 Number of Trade
 Lines
	 	 	775	 	795	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	711	 	718	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	693	 	690	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	815	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	793	 	784	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	760	 	758	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	781	 	753	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	750	 	778	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	748	 	705	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	740	 	730	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	804	 	801	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	788	 	797	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	775	 	769	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	792	 	767	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	779	 	784	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	749	 	778	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	765	 	795	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	776	 	767	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	762	 	753	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	813	 	790	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	797	 	789	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	713	 	708	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	788	 	784	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	808	 	797	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	796	 	798	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	804	 	758	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	777	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	785	 	769	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	799	 	790	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	732	 	741	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	810	 	797	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	797	 	766	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	802	 	783	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	778	 	793	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	804	 	803	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	778	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	738	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	773	 	773	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	699	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	785	 	778	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	799	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	802	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	775	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	787	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	766	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	763	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	786	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	725	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	798	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	794	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	753	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	755	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	724	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	777	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	742	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	807	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	752	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	789	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	749	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	805	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	781	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	738	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	798	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	728	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	796	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	748	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	699	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	35

    	 

    

 

	Credit Line
 Usage
 Ratio	 	Most Recent 12-
 month Pay
 History	 	Months
 Bankruptcy	 	Months
 Foreclosure	 	Primary
 Borrower
 Wage Income	 	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
	 	 	000000000000	 	 	 	 	 	44859.00	 	0.00	 	0.00	 	0.00	 	44859.00	 	44859.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	16666.67	 	0.00	 	0.00	 	19696.00	 	16666.67	 	36362.73	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	41206.67	 	0.00	 	0.00	 	41206.67	 	0	 	5
	 	 	000000000000	 	 	 	 	 	35363.34	 	0.00	 	187829.50	 	0.00	 	35363.34	 	223192.84	 	0	 	5
	 	 	000000000000	 	 	 	 	 	9605.02	 	8338.83	 	-3973.00	 	0.00	 	17943.85	 	13970.85	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	13122.00	 	0.00	 	0.00	 	13122.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	45871.00	 	0.00	 	0.00	 	0.00	 	45871.00	 	45871.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	27946.00	 	 	 	0.00	 	27946.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	27708.00	 	0.00	 	0.00	 	27708.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	31004.96	 	 	 	0.00	 	31004.96	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	38211.50	 	0.00	 	0.00	 	38211.50	 	0	 	5
	 	 	000000000000	 	 	 	 	 	24759.00	 	12000.00	 	-5055.00	 	0.00	 	36759.00	 	31704.00	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	18073.00	 	 	 	0.00	 	18073.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	16042.00	 	8709.00	 	0.00	 	24751.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	17500.00	 	17570.00	 	26901.00	 	0.00	 	35070.00	 	61971.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	98449.27	 	0.00	 	-10608.88	 	0.00	 	98449.27	 	87840.39	 	0	 	4
	 	 	000000000000	 	 	 	 	 	21500.00	 	0.00	 	0.00	 	0.00	 	21500.00	 	21500.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	39761.00	 	0.00	 	0.00	 	39761.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	9676.34	 	5833.00	 	0.00	 	0.00	 	15509.34	 	15509.34	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	16667.00	 	17500.00	 	0.00	 	34167.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	26332.00	 	0.00	 	0.00	 	0.00	 	26332.00	 	26332.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	5738.30	 	1544.90	 	13409.00	 	0.00	 	7283.20	 	20692.20	 	0	 	4
	 	 	000000000000	 	 	 	 	 	16666.67	 	 	 	0.00	 	 	 	16666.67	 	16666.67	 	0	 	5
	 	 	000000000000	 	 	 	 	 	60504.26	 	0.00	 	0.00	 	0.00	 	60504.26	 	60504.26	 	0	 	5
	 	 	000000000000	 	 	 	 	 	14196.00	 	 	 	-1045.00	 	 	 	14196.00	 	13151.00	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	16667.00	 	16506.00	 	0.00	 	33173.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	16500.00	 	16179.00	 	0.00	 	32679.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	53734.00	 	 	 	0.00	 	53734.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	1548.42	 	13750.00	 	0.00	 	1548.42	 	15298.42	 	0	 	5
	 	 	000000000000	 	 	 	 	 	16146.88	 	 	 	-732.00	 	 	 	16146.88	 	15414.88	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	21750.00	 	0.00	 	0.00	 	21750.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	11666.00	 	13776.66	 	0.00	 	0.00	 	25442.66	 	25442.66	 	0	 	5
	 	 	000000000000	 	 	 	 	 	53125.00	 	 	 	0.00	 	 	 	53125.00	 	53125.00	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	30262.00	 	8420.00	 	0.00	 	38682.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	5463.00	 	13500.00	 	0.00	 	5463.00	 	18963.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	38752.25	 	20816.12	 	0.00	 	0.00	 	59568.37	 	59568.37	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	97931.00	 	 	 	0.00	 	97931.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	21260.00	 	10812.00	 	2376.00	 	0.00	 	32072.00	 	34448.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	181782.00	 	0.00	 	0.00	 	0.00	 	181782.00	 	181782.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	11000.00	 	11656.00	 	0.00	 	0.00	 	22656.00	 	22656.00	 	1	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	21973.00	 	0.00	 	0.00	 	21973.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	35715.00	 	13251.00	 	0.00	 	48966.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	30472.33	 	 	 	0.00	 	30472.33	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	26076.00	 	 	 	0.00	 	26076.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	15933.22	 	31608.12	 	0.00	 	47541.34	 	0	 	5
	 	 	000000000000	 	 	 	 	 	31877.70	 	0.00	 	0.00	 	0.00	 	31877.70	 	31877.70	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	6505.27	 	8333.33	 	0.00	 	14838.60	 	0	 	5
	 	 	000000000000	 	 	 	 	 	15842.00	 	 	 	0.00	 	 	 	15842.00	 	15842.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	20833.00	 	5417.00	 	0.00	 	26250.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	13817.00	 	0.00	 	0.00	 	13817.00	 	13817.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	16666.67	 	0.00	 	73859.06	 	0.00	 	16666.67	 	90525.73	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	1750.00	 	50752.00	 	0.00	 	52502.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	29852.00	 	4166.00	 	0.00	 	34018.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	421316.00	 	0.00	 	0.00	 	421316.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	81000.00	 	0.00	 	0.00	 	0.00	 	81000.00	 	81000.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	0.00	 	61316.75	 	0.00	 	61316.75	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	15549.00	 	8631.00	 	0.00	 	24180.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	33921.00	 	 	 	0.00	 	33921.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	15416.66	 	0.00	 	14583.33	 	0.00	 	15416.66	 	29999.99	 	0	 	5
	 	 	000000000000	 	 	 	 	 	9373.60	 	2570.47	 	0.00	 	0.00	 	11944.07	 	11944.07	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	9570.50	 	28624.50	 	1555.50	 	9570.50	 	39750.50	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	27088.00	 	19282.00	 	0.00	 	46370.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	0.00	 	 	 	17311.00	 	 	 	0.00	 	17311.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	15833.00	 	15833.00	 	7916.67	 	7847.33	 	31666.00	 	47430.00	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	21018.75	 	0.00	 	0.00	 	21018.75	 	0	 	4
	 	 	000000000000	 	 	 	 	 	0.00	 	0.00	 	35358.00	 	0.00	 	0.00	 	35358.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	21416.00	 	0.00	 	0.00	 	0.00	 	21416.00	 	21416.00	 	0	 	5

 

    	36

    	 

    

 

	Co-Borrower
 Income
 Verification	 	Borrower
 Employment
 Verification	 	Co-Borrower
 Employment
 Verification	 	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
	 	 	2	 	 	 	3	 	 	 	478231.25	 	7017.70	 	0.1564	 	 	 	 	 	 	 	WALNUT CREEK
	 	 	2	 	 	 	4	 	 	 	8621941.70	 	7999.80	 	0.2200	 	 	 	 	 	100	 	DARIEN
	 	 	2	 	 	 	4	 	 	 	1295059.00	 	11858.41	 	0.2878	 	 	 	 	 	 	 	MENLO PARK
	 	 	2	 	 	 	4	 	 	 	2099876.74	 	19551.69	 	0.0876	 	 	 	 	 	 	 	NEW YORK
	 	 	3	 	 	 	3	 	 	 	730753.87	 	5668.95	 	0.4058	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	569356.14	 	4494.78	 	0.3425	 	 	 	 	 	 	 	LAFAYETTE
	 	 	2	 	 	 	3	 	 	 	818692.83	 	7100.56	 	0.1548	 	 	 	 	 	 	 	Berkeley
	 	 	2	 	 	 	4	 	 	 	451332.00	 	7187.85	 	0.2572	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	534341.00	 	8258.01	 	0.2980	 	 	 	 	 	100	 	HILLSBOROUGH
	 	 	2	 	 	 	4	 	 	 	202330.00	 	12759.63	 	0.4115	 	 	 	 	 	 	 	San Francisco
	 	 	2	 	 	 	3	 	 	 	545080.00	 	15334.66	 	0.4013	 	 	 	 	 	66.1974	 	SAN FRANCISCO
	 	 	3	 	 	 	4	 	 	 	458859.05	 	14092.97	 	0.4445	 	 	 	 	 	100	 	MENLO PARK
	 	 	2	 	 	 	4	 	 	 	291711.41	 	6834.14	 	0.3781	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	135952.18	 	4840.13	 	0.1956	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	3	 	 	 	663195.26	 	18121.81	 	0.2924	 	 	 	 	 	 	 	HILLSBOROUGH
	 	 	2	 	 	 	4	 	 	 	627005.73	 	20968.64	 	0.2387	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	607320.87	 	7901.12	 	0.3675	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	556603.50	 	13200.25	 	0.3320	 	 	 	 	 	 	 	San Francisco
	 	 	3	 	 	 	4	 	 	 	88527.92	 	4498.41	 	0.2900	 	 	 	 	 	36.8947	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	616746.88	 	8039.91	 	0.2353	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	3	 	 	 	227354.00	 	7566.24	 	0.2873	 	 	 	 	 	 	 	MILL VALLEY
	 	 	3	 	 	 	3	 	 	 	813510.81	 	9134.61	 	0.4415	 	 	 	 	 	 	 	Orinda
	 	 	2	 	 	 	4	 	 	 	611309.89	 	6200.80	 	0.3720	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	330002.59	 	8323.93	 	0.1376	 	 	 	 	 	 	 	MENLO PARK
	 	 	2	 	 	 	4	 	 	 	202515.86	 	5243.53	 	0.3987	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	550740.00	 	8513.39	 	0.2566	 	 	 	 	 	0	 	WOODSIDE
	 	 	2	 	 	 	4	 	 	 	113799.97	 	5343.02	 	0.1635	 	 	 	 	 	 	 	NEWTON
	 	 	2	 	 	 	4	 	 	 	722594.99	 	8405.66	 	0.1564	 	 	 	 	 	0	 	LAFAYETTE
	 	 	2	 	 	 	4	 	 	 	93081.56	 	4114.60	 	0.2690	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	413957.60	 	4903.50	 	0.3181	 	 	 	 	 	0	 	SAN CARLOS
	 	 	2	 	 	 	3	 	 	 	4213586.25	 	7465.06	 	0.3432	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	3	 	 	 	3	 	 	 	989325.40	 	10176.58	 	0.4000	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	409815.00	 	10620.91	 	0.1999	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	820433.85	 	12517.84	 	0.3236	 	 	 	 	 	0	 	Lafayette
	 	 	3	 	 	 	3	 	 	 	1903337.29	 	10991.68	 	0.5796	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	3	 	 	 	842004.21	 	17060.38	 	0.2864	 	 	 	 	 	100	 	NEW YORK
	 	 	2	 	 	 	4	 	 	 	644932.00	 	13207.95	 	0.1349	 	 	 	 	 	 	 	Woodside
	 	 	3	 	 	 	4	 	 	 	905470.39	 	16013.43	 	0.4649	 	 	 	 	 	100	 	SAN RAFAEL
	 	 	2	 	 	 	3	 	 	 	3404532.70	 	15633.25	 	0.0860	 	 	 	 	 	100	 	PALO ALTO
	 	 	3	 	 	 	4	 	 	 	550420.01	 	4741.90	 	0.2093	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	204416.20	 	9663.73	 	0.4398	 	 	 	 	 	0	 	NEWPORT BEACH
	 	 	2	 	 	 	4	 	 	 	380234.34	 	10331.83	 	0.2110	 	 	 	 	 	0	 	NEW YORK
	 	 	2	 	 	 	4	 	 	 	4712111.06	 	9949.22	 	0.3265	 	 	 	 	 	 	 	NEW YORK
	 	 	2	 	 	 	4	 	 	 	138488.21	 	6410.68	 	0.2458	 	 	 	 	 	0	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	178607.30	 	10725.33	 	0.2256	 	 	 	 	 	0	 	WESTON
	 	 	2	 	 	 	4	 	 	 	299947.97	 	12400.43	 	0.3890	 	 	 	 	 	 	 	MENLO PARK
	 	 	2	 	 	 	4	 	 	 	842671.64	 	4218.61	 	0.2843	 	 	 	 	 	 	 	CAMBRIDGE
	 	 	2	 	 	 	4	 	 	 	106245.38	 	5732.63	 	0.3619	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	1523493.69	 	6373.50	 	0.2428	 	 	 	 	 	0	 	RUMSON
	 	 	2	 	 	 	3	 	 	 	168309.16	 	5036.30	 	0.3645	 	 	 	 	 	100	 	BOSTON
	 	 	2	 	 	 	3	 	 	 	2503426.24	 	8274.05	 	0.0914	 	 	 	 	 	100	 	WAYLAND
	 	 	2	 	 	 	4	 	 	 	517824.29	 	14264.79	 	0.2717	 	 	 	 	 	 	 	SOUTH YARMOUTH
	 	 	2	 	 	 	4	 	 	 	270634.72	 	6854.63	 	0.2015	 	 	 	 	 	0	 	BROOKLINE
	 	 	2	 	 	 	4	 	 	 	16794999.00	 	19212.01	 	0.0456	 	 	 	 	 	0	 	PEBBLE BEACH
	 	 	2	 	 	 	3	 	 	 	8071625.38	 	21642.96	 	0.2672	 	 	 	 	 	 	 	BOSTON
	 	 	2	 	 	 	4	 	 	 	1930176.43	 	13784.01	 	0.2248	 	 	 	 	 	 	 	APTOS
	 	 	2	 	 	 	4	 	 	 	1156721.00	 	9350.41	 	0.3867	 	 	 	 	 	0	 	GLENDALE
	 	 	2	 	 	 	4	 	 	 	2070447.00	 	16221.02	 	0.4782	 	 	 	 	 	 	 	Los Angeles
	 	 	3	 	 	 	3	 	 	 	360783.81	 	10485.00	 	0.3495	 	 	 	 	 	 	 	PALO ALTO
	 	 	2	 	 	 	4	 	 	 	491694.31	 	4098.01	 	0.3431	 	 	 	 	 	 	 	LAGUNA BEACH
	 	 	2	 	 	 	4	 	 	 	806732.98	 	17365.72	 	0.4369	 	 	 	 	 	0	 	SAN DIEGO
	 	 	2	 	 	 	4	 	 	 	126532.24	 	13572.50	 	0.2927	 	 	 	 	 	0	 	GLEN ELLEN
	 	 	2	 	 	 	4	 	 	 	581465.00	 	3993.65	 	0.2307	 	 	 	 	 	0	 	SANTA MONICA
	 	 	2	 	 	 	3	 	 	 	4155593.01	 	16138.44	 	0.3403	 	 	 	 	 	 	 	CAMBRIDGE
	 	 	2	 	 	 	4	 	 	 	255530.11	 	5351.86	 	0.2546	 	 	 	 	 	 	 	MEDINA
	 	 	2	 	 	 	4	 	 	 	564535.01	 	10116.88	 	0.2861	 	 	 	 	 	0	 	LOS ANGELES
	 	 	2	 	 	 	4	 	 	 	1861786.74	 	4814.66	 	0.2248	 	 	 	 	 	100	 	NEWTON

 

    	37

    	 

    

 

	State	 	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	 	Most Recent
 Property
 Valuation
 Type
	CA	 	94596	 	1	 	1	 	 	 	1160000.00	 	3	 	20110202	 	 	 	 	 	 	 	 
	CT	 	06820	 	1	 	1	 	1687500.00	 	1690000.00	 	3	 	20110421	 	 	 	 	 	 	 	 
	CA	 	94025	 	1	 	1	 	 	 	3000000.00	 	3	 	20120113	 	 	 	 	 	 	 	 
	NY	 	10075	 	2	 	1	 	 	 	5250000.00	 	3	 	20120510	 	 	 	 	 	 	 	 
	CA	 	94117	 	13	 	1	 	 	 	1550000.00	 	3	 	20111226	 	 	 	 	 	 	 	 
	CA	 	94549	 	1	 	1	 	 	 	1475000.00	 	3	 	20120103	 	 	 	 	 	 	 	 
	CA	 	94709	 	1	 	1	 	 	 	1425000.00	 	3	 	20120112	 	 	 	 	 	 	 	 
	CA	 	94103	 	3	 	1	 	897500.00	 	898000.00	 	3	 	20111228	 	 	 	 	 	 	 	 
	CA	 	94010	 	1	 	1	 	1700000.00	 	1700000.00	 	3	 	20120106	 	 	 	 	 	 	 	 
	CA	 	94117	 	1	 	1	 	 	 	2600000.00	 	3	 	20120202	 	 	 	 	 	 	 	 
	CA	 	94115	 	3	 	1	 	2323416.00	 	2500000.00	 	3	 	20120116	 	 	 	 	 	 	 	 
	CA	 	94025	 	1	 	1	 	1989000.00	 	1990000.00	 	3	 	20120220	 	 	 	 	 	 	 	 
	CA	 	94118	 	1	 	1	 	 	 	2750000.00	 	3	 	20120125	 	 	 	 	 	 	 	 
	CA	 	94122	 	3	 	1	 	 	 	817000.00	 	3	 	20120207	 	 	 	 	 	 	 	 
	CA	 	94010	 	1	 	1	 	 	 	3500000.00	 	3	 	20120117	 	 	 	 	 	 	 	 
	CA	 	94117	 	1	 	1	 	 	 	2100000.00	 	3	 	20120210	 	 	 	 	 	 	 	 
	CA	 	94118	 	1	 	1	 	 	 	2000000.00	 	3	 	20120202	 	 	 	 	 	 	 	 
	CA	 	94115	 	1	 	1	 	 	 	1847000.00	 	3	 	20120203	 	 	 	 	 	 	 	 
	CA	 	94131	 	1	 	1	 	1100000.00	 	1100000.00	 	3	 	20120119	 	 	 	 	 	 	 	 
	CA	 	94115	 	1	 	1	 	 	 	1800000.00	 	3	 	20120204	 	 	 	 	 	 	 	 
	CA	 	94941	 	1	 	1	 	 	 	1700000.00	 	3	 	20120126	 	 	 	 	 	 	 	 
	CA	 	94563	 	1	 	1	 	 	 	1750000.00	 	3	 	20120302	 	 	 	 	 	 	 	 
	CA	 	94114	 	13	 	1	 	1175000.00	 	1175000.00	 	3	 	20120126	 	 	 	 	 	 	 	 
	CA	 	94025	 	1	 	1	 	 	 	1750000.00	 	3	 	20120206	 	 	 	 	 	 	 	 
	CA	 	94107	 	3	 	1	 	825000.00	 	825000.00	 	3	 	20120126	 	 	 	 	 	 	 	 
	CA	 	94062	 	1	 	1	 	1610000.00	 	1610000.00	 	3	 	20120203	 	 	 	 	 	 	 	 
	MA	 	02468	 	1	 	1	 	 	 	900000.00	 	3	 	20120321	 	 	 	 	 	 	 	 
	CA	 	94549	 	1	 	1	 	1662000.00	 	1700000.00	 	3	 	20120207	 	 	 	 	 	 	 	 
	CA	 	94110	 	3	 	1	 	840000.00	 	840000.00	 	3	 	20120209	 	 	 	 	 	 	 	 
	CA	 	94070	 	1	 	1	 	855000.00	 	855000.00	 	3	 	20120209	 	 	 	 	 	 	 	 
	CA	 	94114	 	1	 	1	 	2995000.00	 	2900000.00	 	3	 	20120216	 	 	 	 	 	 	 	 
	CA	 	94109	 	2	 	1	 	1200000.00	 	1200000.00	 	3	 	20120216	 	 	 	 	 	 	 	 
	CA	 	94105	 	3	 	1	 	975000.00	 	975000.00	 	3	 	20120221	 	 	 	 	 	 	 	 
	CA	 	94549	 	1	 	1	 	1699000.00	 	1700000.00	 	3	 	20120228	 	 	 	 	 	 	 	 
	CA	 	94109	 	4	 	1	 	1370703.00	 	1375000.00	 	3	 	20120221	 	 	 	 	 	 	 	 
	NY	 	10025	 	4	 	1	 	1665000.00	 	1665000.00	 	3	 	20120404	 	 	 	 	 	 	 	 
	CA	 	94062	 	1	 	1	 	 	 	3100000.00	 	3	 	20120312	 	 	 	 	 	 	 	 
	CA	 	94901	 	7	 	1	 	2515000.00	 	2515000.00	 	3	 	20120225	 	 	 	 	 	 	 	 
	CA	 	94301	 	1	 	3	 	5100000.00	 	5100000.00	 	3	 	20120302	 	 	 	 	 	 	 	 
	CA	 	94115	 	3	 	1	 	1210000.00	 	1210000.00	 	3	 	20120309	 	 	 	 	 	 	 	 
	CA	 	92625	 	7	 	1	 	1675000.00	 	1675000.00	 	3	 	20120514	 	 	 	 	 	 	 	 
	NY	 	10011	 	2	 	1	 	930000.00	 	930000.00	 	3	 	20120403	 	 	 	 	 	 	 	 
	NY	 	10128	 	2	 	1	 	 	 	2800000.00	 	3	 	20120404	 	 	 	 	 	 	 	 
	CA	 	94107	 	3	 	1	 	1262000.00	 	1262000.00	 	3	 	20120330	 	 	 	 	 	 	 	 
	MA	 	02493	 	1	 	1	 	1360000.00	 	1375000.00	 	3	 	20120328	 	 	 	 	 	 	 	 
	CA	 	94025	 	1	 	1	 	 	 	2900000.00	 	3	 	20120411	 	 	 	 	 	 	 	 
	MA	 	02138	 	3	 	1	 	 	 	998000.00	 	3	 	20120416	 	 	 	 	 	 	 	 
	CA	 	94107	 	3	 	1	 	1262626.00	 	1200000.00	 	3	 	20120405	 	 	 	 	 	 	 	 
	NJ	 	07760	 	1	 	1	 	1476260.00	 	1480000.00	 	3	 	20120417	 	 	 	 	 	 	 	 
	MA	 	02118	 	4	 	1	 	827500.00	 	830000.00	 	3	 	20120417	 	 	 	 	 	 	 	 
	MA	 	01778	 	1	 	1	 	1295000.00	 	1250000.00	 	3	 	20120511	 	 	 	 	 	 	 	 
	MA	 	02664	 	1	 	2	 	 	 	950000.00	 	3	 	20120503	 	 	 	 	 	 	 	 
	MA	 	02445	 	3	 	1	 	1279000.00	 	1280000.00	 	3	 	20120510	 	 	 	 	 	 	 	 
	CA	 	93953	 	1	 	2	 	4700000.00	 	4700000.00	 	3	 	20120424	 	 	 	 	 	 	 	 
	MA	 	02135	 	15	 	3	 	 	 	1590000.00	 	3	 	20120501	 	 	 	 	 	 	 	 
	CA	 	95003	 	7	 	2	 	 	 	990000.00	 	3	 	20120430	 	 	 	 	 	 	 	 
	CA	 	91207	 	1	 	1	 	1485000.00	 	1450000.00	 	3	 	20120509	 	 	 	 	 	 	 	 
	CA	 	90024	 	1	 	1	 	 	 	3700000.00	 	3	 	20120514	 	 	 	 	 	 	 	 
	CA	 	94301	 	1	 	1	 	 	 	4000000.00	 	3	 	20120518	 	 	 	 	 	 	 	 
	CA	 	92651	 	1	 	1	 	 	 	1200000.00	 	3	 	20120522	 	 	 	 	 	 	 	 
	CA	 	92127	 	7	 	1	 	2150000.00	 	2150000.00	 	3	 	20120530	 	 	 	 	 	 	 	 
	CA	 	95442	 	1	 	2	 	709000.00	 	720000.00	 	3	 	20120525	 	 	 	 	 	 	 	 
	CA	 	90405	 	13	 	1	 	800000.00	 	800000.00	 	3	 	20120604	 	 	 	 	 	 	 	 
	MA	 	02138	 	4	 	1	 	 	 	2800000.00	 	3	 	20120227	 	 	 	 	 	 	 	 
	WA	 	98039	 	1	 	1	 	 	 	3100000.00	 	3	 	20120430	 	 	 	 	 	 	 	 
	CA	 	90049	 	1	 	1	 	1315000.00	 	1315000.00	 	3	 	20120618	 	 	 	 	 	 	 	 
	MA	 	02459	 	1	 	1	 	1251058.00	 	1255000.00	 	3	 	20120625	 	 	 	 	 	 	 	 

 

    	38

    	 

    

 

	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?	 	Pool Insurance

Co.
 Name	 	Pool Insurance

Stop
 Loss %	 	MI Certificate
 Number
	 	 	 	 	 	 	0.7931	 	0.7500	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7500	 	0.7500	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.4967	 	0.3634	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.2380	 	0.2380	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6935	 	0.6935	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5288	 	0.5288	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7270	 	0.7270	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7647	 	0.7647	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6123	 	0.4200	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6456	 	0.6456	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.3090	 	0.3090	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6962	 	0.4762	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6611	 	0.4707	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6401	 	0.6401	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7309	 	0.7309	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6277	 	0.5555	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7114	 	0.6470	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6314	 	0.6314	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7500	 	0.7500	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7388	 	0.6833	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6618	 	0.6618	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6432	 	0.6432	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.3448	 	0.3448	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5833	 	0.5833	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7651	 	0.7651	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6565	 	0.6565	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7500	 	0.7500	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5322	 	0.5322	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.4970	 	0.4970	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6500	 	0.2941	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5867	 	0.5867	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.3571	 	0.3571	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7226	 	0.7226	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6586	 	0.6241	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6581	 	0.6581	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6666	 	0.6666	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5419	 	0.5419	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7478	 	0.6505	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5319	 	0.5319	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6603	 	0.6603	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7424	 	0.7424	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7172	 	0.7172	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5675	 	0.5405	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.3225	 	0.2725	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6458	 	0.6458	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7500	 	0.7500	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7812	 	0.7812	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.6187	 	0.6187	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.2290	 	0.1967	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.8000	 	0.8000	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7999	 	0.7999	 	0	 	0	 	0	 	 	 	 	 	 	 	 

 

    	39

    	 

    

 

	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	 	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
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	6/1/2012	 	0	 	0	 	0.044	 	4506.85	 	 	 	 	 	 	 	0	 	0
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	40

    	 

    

 

	Forgiven
 Interest
 Amount	 	Number of
 Modifications	 	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)	 	Primary Borrower

Wage Income
 (Commission)	 	Co-Borrower
 Wage Income
 (Salary)	 	Co-Borrower
 Wage Income
 (Bonus)
	 	 	 	 	 	 	8	 	0	 	50000.00	 	20410301	 	44859.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	23	 	5	 	0.00	 	20410701	 	16667.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	10	 	9	 	400000.00	 	20420301	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	16	 	0	 	0.00	 	20420601	 	35363.34	 	187829.50	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	35	 	25	 	0.00	 	20420301	 	9605.02	 	0.00	 	0.00	 	8338.83	 	0.00
	 	 	 	 	 	 	17	 	0	 	0.00	 	20420201	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	19	 	0	 	0.00	 	20420301	 	45871.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	11	 	 	 	0.00	 	20420201	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	8	 	 	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	18	 	 	 	500000.00	 	20420301	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	8	 	 	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	6	 	3	 	0.00	 	20420401	 	24759.00	 	0.00	 	0.00	 	12000.00	 	0.00
	 	 	 	 	 	 	20	 	 	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	14	 	4	 	0.00	 	20420401	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	20	 	20	 	770000.00	 	20420301	 	17500.00	 	0.00	 	0.00	 	17570.00	 	0.00
	 	 	 	 	 	 	35	 	 	 	400000.00	 	20420401	 	98449.27	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	15	 	 	 	0.00	 	20420401	 	21500.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	10	 	10	 	0.00	 	20420401	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	6	 	5	 	0.00	 	20420301	 	9676.34	 	0.00	 	0.00	 	5833.00	 	0.00
	 	 	 	 	 	 	16	 	5	 	130000.00	 	20420301	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	9	 	15	 	109500.00	 	20420301	 	26332.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	1	 	 	 	0.00	 	20420401	 	5738.30	 	0.00	 	0.00	 	1544.90	 	0.00
	 	 	 	 	 	 	15	 	 	 	0.00	 	20420301	 	16666.67	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	10	 	 	 	0.00	 	20420401	 	60504.26	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	11	 	 	 	0.00	 	20420301	 	14196.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	12	 	2	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	12	 	14	 	50000.00	 	20320701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	14	 	 	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	10	 	5	 	0.00	 	20420301	 	0.00	 	0.00	 	0.00	 	1548.42	 	0.00
	 	 	 	 	 	 	20	 	 	 	0.00	 	20420301	 	16146.88	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	7	 	17	 	0.00	 	20420401	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	28	 	30	 	0.00	 	20420401	 	11666.00	 	0.00	 	0.00	 	13776.66	 	0.00
	 	 	 	 	 	 	27	 	 	 	0.00	 	20420401	 	53125.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	15	 	15	 	0.00	 	20420401	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	0	 	1	 	 	 	0	 	3	 	0.00	 	20420401	 	0.00	 	0.00	 	0.00	 	5463.00	 	0.00
	 	 	 	 	 	 	40	 	40	 	0.00	 	20420701	 	38752.25	 	0.00	 	0.00	 	20816.12	 	0.00
	 	 	 	 	 	 	4	 	 	 	0.00	 	20420501	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	30	 	10	 	0.00	 	20420401	 	21260.00	 	0.00	 	0.00	 	10812.00	 	0.00
	 	 	 	 	 	 	30	 	0	 	1815000.00	 	20420701	 	181782.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	5	 	9	 	0.00	 	20420401	 	11000.00	 	0.00	 	0.00	 	11656.00	 	0.00
	 	 	 	 	 	 	13	 	8	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	18	 	23	 	0.00	 	20420601	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	10	 	 	 	0.00	 	20420601	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	8	 	 	 	0.00	 	20420501	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	11	 	11	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	26	 	0	 	0.00	 	20420601	 	31877.70	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	10	 	12	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	20	 	 	 	0.00	 	20420501	 	15842.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	10	 	12	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	0	 	10	 	0.00	 	20420601	 	0.00	 	0.00	 	0.00	 	13817.00	 	0.00
	 	 	 	 	 	 	15	 	0	 	0.00	 	20420701	 	16666.67	 	73859.06	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	15	 	15	 	92500.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	10	 	10	 	0.00	 	20420601	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	15	 	0	 	0.00	 	20420601	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	6	 	6	 	0.00	 	20420701	 	81000.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	24	 	24	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	22	 	15	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	29	 	 	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	23	 	2	 	200000.00	 	20320701	 	15416.66	 	14583.33	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	36	 	 	 	0.00	 	20420701	 	9373.60	 	0.00	 	0.00	 	2570.00	 	0.00
	 	 	 	 	 	 	 	 	0	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	9570.50	 	0.00
	 	 	 	 	 	 	20	 	15	 	0.00	 	20420701	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	20	 	 	 	0.00	 	20420801	 	0.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	3	 	3	 	0.00	 	20320701	 	15833.00	 	7916.67	 	0.00	 	15833.00	 	7847.33
	 	 	 	 	 	 	30	 	 	 	100000.00	 	20420601	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	3	 	 	 	0.00	 	20420801	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	12	 	 	 	0.00	 	20420801	 	21416.00	 	0.00	 	0.00	 	0.00	 	0.00

 

    	41

    	 

    

 

	Co-Borrower
 Wage Income
 (Commission)	 	Originator Doc
 Code	 	RWT Income
 Verification	 	RWT Asset
 Verification
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	One Month
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	One Month
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	One Month
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months

 

    	42

    	 

    

 

	
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

	
Scheduled Loan Amount

	
Mortgage loan scheduled 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

	
Scheduled Interest Paid

Through Date

	  	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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 residential 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

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
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

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
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**)

*For self-employed borrowers:  Level 4 Income Verification:

• 2 Years Tax Returns

• Self-prepared tax returns (regardless of 4506 and tax transcripts)

 

** For self-employed borrowers: Level 5 Income Verification:

• 2 Years tax returns

• Tax returns prepared and not executed by a CPA, with

          o CPA name & phone number shown on the Preparer section of the tax return

          o Executed 4506 and tax transcripts (matching returns in file)

• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
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**)

*For self-employed borrowers:  Level 4 Income Verification:

• 2 Years Tax Returns

• Self-prepared tax returns (regardless of 4506 and tax transcripts)

 

** For self-employed borrowers: Level 5 Income Verification:

• 2 Years tax returns

• Tax returns prepared and not executed by a CPA, with

          o CPA name & phone number shown on the Preparer section of the tax return

          o Executed 4506 and tax transcripts (matching returns in file)

• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
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

> 0

	
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

	  

    	43

    	 

    

  

ATTACHMENT 1B

 

MORTGAGE LOAN SCHEDULE

 

    	44

    	 

    

 

 

	Primary
 Servicer	 	Servicing Fee %	 	Servicing
 Fee—Flatdollar	 	Servicing Advance
 Methodology	 	Originator	 	Loan Group	 	Loan Number	 	Amortization
 Type	 	Lien Position	 	HELOC
 Indicator	 	Loan Purpose	 	Cash Out
 Amount
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003192	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003205	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003206	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003210	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003229	 	1	 	1	 	0	 	9	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003230	 	1	 	1	 	0	 	6	 	 
	1002338	 	0.002500	 	 	 	 	 	1002338	 	 	 	3500003232	 	1	 	1	 	0	 	6	 	 

 

    	45

    	 

    

 

	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	 	Hybrid Period of
 Most Senior Lien

(in
 months)	 	Neg Am Limit of
 Most Senior Lien	 	Junior Mortgage
 Balance	 	Origination Date of
 Most Senior Lien
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	70000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	559000.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 
	 	 	 	 	 	 	 	 	1	 	0	 	0	 	 	 	 	 	 	 	0.00	 	 

 

    	46

    	 

    

 

	Origination Date	 	Original Loan
 Amount	 	Original
 Interest
 Rate	 	Original
 Amortization
 Term	 	Original Term

to
 Maturity	 	First Payment
 Date
 of Loan	 	Interest Type
 Indicator	 	Original Interest
 Only Term	 	Buy Down Period	 	HELOC Draw
 Period	 	Current Loan
 Amount	 	Current
 Interest
 Rate
	20120104	 	1190000.00	 	0.043500	 	360	 	360	 	20120301	 	1	 	120	 	0	 	 	 	1190000.00	 	0.043500
	20120104	 	912000.00	 	0.044500	 	360	 	360	 	20120201	 	1	 	0	 	0	 	 	 	902177.86	 	0.044500
	20120109	 	1300000.00	 	0.045000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	1287880.98	 	0.045000
	20120119	 	1190000.00	 	0.044000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	1178706.29	 	0.044000
	20120113	 	1075000.00	 	0.043000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	1064614.38	 	0.043000
	20120119	 	1120000.00	 	0.042000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	1108985.90	 	0.042000
	20120123	 	1273000.00	 	0.043000	 	360	 	360	 	20120301	 	1	 	0	 	0	 	 	 	1258908.66	 	0.043000

 

    	47

    	 

    

 

	Current
 Payment
 Amount Due	 	Interest Paid
 Through Date	 	Current

Payment
 Status	 	Index Type	 	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
	4313.75	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4593.92	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6586.91	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5959.05	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5319.87	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5476.99	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6299.71	 	20120901	 	0	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	48

    	 

    

 

	Subsequent
 Interest
 Rate Cap
 (Change Down)	 	Subsequent
 Interest
 Rate Cap
 (Change
 Up)	 	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
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	49

    	 

    

 

	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	 	Number of
 Mortgaged
 Properties	 	Total Number of
 Borrowers
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	348	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	55	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	275	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	50	 	3	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	60	 	 	 	117	 	2	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 	 	 	194	 	1	 	 
	 	 	 	 	 	 	 	 	 	 	99	 	99	 	36	 	 	 	132	 	1	 	 

 

    	50

    	 

    

 

	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	 	Primary Wage
 Earner Original
 FICO: Experian	 	Primary Wage
 Earner Original
 FICO: TransUnion	 	Secondary Wage
 Earner Original
 FICO: Equifax	 	Secondary Wage
 Earner Original
 FICO: Experian
	0	 	 	 	14	 	 	 	7	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	4	 	18	 	1	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	11	 	 	 	12	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	1	 	 	 	25	 	15	 	10	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	3	 	6	 	2	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	1	 	3	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 
	0	 	 	 	5	 	8	 	0	 	1	 	8/3/2012	 	 	 	 	 	 	 	 	 	 

 

    	51

    	 

    

 

	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	 	Most Recent
 VantageScore
 Method	 	VantageScore
 Date	 	Credit Report:
 Longest Trade
 Line	 	Credit Report:
 Maximum
 Trade
 Line	 	Credit Report:
 Number of Trade
 Lines
	 	 	771	 	742	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	785	 	802	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	786	 	743	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	718	 	755	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	789	 	769	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	786	 	766	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	763	 	785	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	52

    	 

    

 

	Credit Line
 Usage
 Ratio	 	Most Recent 12-
 month Pay
 History	 	Months
 Bankruptcy	 	Months
 Foreclosure	 	Primary
 Borrower
 Wage Income	 	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
	 	 	000000000000	 	 	 	 	 	25000.00	 	 	 	0.00	 	 	 	25000.00	 	25000.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	16083.33	 	 	 	0.00	 	 	 	16083.33	 	16083.33	 	0	 	4
	 	 	000000000000	 	 	 	 	 	27151.00	 	0.00	 	399.00	 	0.00	 	27151.00	 	27550.00	 	0	 	5
	 	 	000000000000	 	 	 	 	 	25570.42	 	10000.00	 	11856.59	 	0.00	 	35570.42	 	47427.01	 	0	 	4
	 	 	000000000000	 	 	 	 	 	17083.00	 	22917.00	 	-829.00	 	0.00	 	40000.00	 	39171.00	 	1	 	5
	 	 	000000000000	 	 	 	 	 	20000.00	 	12166.67	 	0.00	 	0.00	 	32166.67	 	32166.67	 	0	 	5
	 	 	000000000000	 	 	 	 	 	14583.33	 	13603.67	 	0.00	 	0.00	 	28187.00	 	28187.00	 	0	 	5

 

    	53

    	 

    

 

	Co-Borrower
 Income
 Verification	 	Borrower
 Employment
 Verification	 	Co-Borrower
 Employment
 Verification	 	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
	 	 	2	 	 	 	4	 	 	 	328687.90	 	6597.55	 	0.2639	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	40039.00	 	6046.83	 	0.3760	 	 	 	 	 	 	 	SAN RAFAEL
	 	 	3	 	 	 	3	 	 	 	247373.53	 	9675.81	 	0.3512	 	 	 	 	 	 	 	ORINDA
	 	 	2	 	 	 	4	 	 	 	344866.38	 	17033.22	 	0.3591	 	 	 	 	 	 	 	SAN FRANCISCO
	 	 	3	 	 	 	3	 	 	 	1978826.13	 	8627.02	 	0.2202	 	 	 	 	 	 	 	MENLO PARK
	 	 	2	 	 	 	4	 	 	 	200083.25	 	7065.22	 	0.2196	 	 	 	 	 	100	 	SAN FRANCISCO
	 	 	2	 	 	 	4	 	 	 	277432.32	 	8752.63	 	0.3105	 	 	 	 	 	100	 	BURLINGAME

 

    	54

    	 

    

 

	State	 	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	 	Most Recent
 Property
 Valuation
 Type
	CA	 	94121	 	1	 	1	 	 	 	1800000.00	 	3	 	20111026	 	 	 	 	 	 	 	 
	CA	 	94901	 	1	 	1	 	 	 	1200000.00	 	3	 	20111209	 	 	 	 	 	 	 	 
	CA	 	94563	 	1	 	1	 	 	 	1725000.00	 	3	 	20111115	 	 	 	 	 	 	 	 
	CA	 	94123	 	1	 	1	 	 	 	2400000.00	 	3	 	20111206	 	 	 	 	 	 	 	 
	CA	 	94025	 	1	 	1	 	 	 	2125000.00	 	3	 	20120102	 	 	 	 	 	 	 	 
	CA	 	94116	 	1	 	1	 	1427000.00	 	1427000.00	 	3	 	20111221	 	 	 	 	 	 	 	 
	CA	 	94010	 	1	 	1	 	1675000.00	 	1675000.00	 	3	 	20120103	 	 	 	 	 	 	 	 

 

    	55

    	 

    

 

	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?	 	Pool Insurance

Co.
 Name	 	Pool Insurance

Stop
 Loss %	 	MI Certificate
 Number
	 	 	 	 	 	 	0.7000	 	0.6611	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7600	 	0.7600	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7536	 	0.7536	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7287	 	0.4958	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.5058	 	0.5058	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7848	 	0.7848	 	0	 	0	 	0	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	0.7600	 	0.7600	 	0	 	0	 	0	 	 	 	 	 	 	 	 

 

    	56

    	 

    

 

	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	 	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
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	57

    	 

    

 

	Forgiven
 Interest
 Amount	 	Number of
 Modifications	 	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)	 	Primary Borrower

Wage Income
 (Commission)	 	Co-Borrower
 Wage Income
 (Salary)	 	Co-Borrower
 Wage Income
 (Bonus)
	 	 	 	 	 	 	17	 	 	 	70000.00	 	20420201	 	25000.00	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	20	 	18	 	0.00	 	20420101	 	16083.33	 	0.00	 	0.00	 	 	 	 
	 	 	 	 	 	 	11	 	 	 	0.00	 	20420201	 	27151.00	 	0.00	 	0.00	 	0.00	 	0.00
	 	 	 	 	 	 	25	 	15	 	490000.00	 	20420201	 	25570.42	 	0.00	 	0.00	 	10000.00	 	0.00
	 	 	 	 	 	 	16	 	18	 	0.00	 	20420201	 	17083.00	 	0.00	 	0.00	 	22917.00	 	0.00
	 	 	 	 	 	 	15	 	15	 	0.00	 	20420201	 	20000.00	 	0.00	 	0.00	 	12166.67	 	0.00
	 	 	 	 	 	 	14	 	12	 	0.00	 	20420201	 	14583.33	 	14583.33	 	0.00	 	13603.67	 	0.00

 

    	58

    	 

    

 

	Co-Borrower
 Wage Income
 (Commission)	 	Originator Doc
 Code	 	RWT Income
 Verification	 	RWT Asset
 Verification
	 	 	Full	 	Two Years	 	Two Months
	 	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	One Month
	0.00	 	Full	 	Two Years	 	Two Months
	0.00	 	Full	 	Two Years	 	Two Months

 

    	59

    	 

    

 

	
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

	
Scheduled Loan Amount

	
Mortgage loan scheduled 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

	
Scheduled Interest Paid

Through Date

	  	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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

	
99=no cap

	  
	
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 residential 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

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
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

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
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**)

*For self-employed borrowers:  Level 4 Income Verification:

• 2 Years Tax Returns

• Self-prepared tax returns (regardless of 4506 and tax transcripts)

 

** For self-employed borrowers: Level 5 Income Verification:

• 2 Years tax returns

• Tax returns prepared and not executed by a CPA, with

          o CPA name & phone number shown on the Preparer section of the tax return

          o Executed 4506 and tax transcripts (matching returns in file)

• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
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**)

*For self-employed borrowers:  Level 4 Income Verification:

• 2 Years Tax Returns

• Self-prepared tax returns (regardless of 4506 and tax transcripts)

 

** For self-employed borrowers: Level 5 Income Verification:

• 2 Years tax returns

• Tax returns prepared and not executed by a CPA, with

          o CPA name & phone number shown on the Preparer section of the tax return

          o Executed 4506 and tax transcripts (matching returns in file)

• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
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

> 0

	
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

	  

    	60

    	 

    

  

ATTACHMENT 2A

 

SALE AND SERVICING AGREEMENT

 

Refer to Exhibit 10.4

 

    	61

    	 

    

 

ATTACHMENT 2B

 

PURCHASE AGREEMENT

 

Refer to Exhibit 10.5 

 

    	62

    	 

    

 

EXHIBIT D-3

 

INITIAL AUTHORIZED REPRESENTATIVES
OF THE SERVICER

 

	Name	 	Title	 	Specimen Signature
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 

    	 

    

 

EXHIBIT F

 

REQUEST FOR RELEASE OF DOCUMENTS

 

	To:	Wells Fargo Bank, N.A.	Date: 	 
	 	751 Kasota Avenue	 	 
	 	Minneapolis, MN  55414	 	 
	 	Attn:  WFDC Release Department.	 	 

 

		Re:	Custodial Agreement, dated as of September 1, 2012, among Christiana
                                                               Trust, a division of Wilmington Savings Fund Society, FSB, as Trustee,
                                                               Wells Fargo Bank, N.A., as Custodian, Sequoia Residential Funding,
                                                               Inc., as Depositor, and Redwood Residential Acquisition Corporation,
                                                               as Seller

 

In connection with the administration of
the Mortgage Loans held by you as Custodian for the Trustee pursuant to the above-captioned Custodial Agreement, we request the
release of the Custodian’s Mortgage File for the Mortgage Loan described below, for the reason indicated.

 

	Mortgage Loan Number:	 	Investor Number:
	 	 	 
	Mortgagor Name, Address & Zip Code:	 	Pool Number:

 

Reason for Requesting Documents (check one):

 

_______ 1. Mortgage Paid in Full

 

_______ 2. Foreclosure

 

_______ 3. Substitution

 

_______ 4. Other Liquidation

 

	_______ 5. Non-liquidation	Reason:	 

 

	 	For CMI Use Only:	 

 

	By:	 	 
	 	(Authorized Signature)	 

 

	Printed Name	 	 
	 	 	 
	Servicer Name:	 	 
	 	 	 
	Ship To Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Phone:	 	 

 

    	 

    	 

    

 

Custodian

 

Please acknowledge the execution of the above request by
your signature and date below:

 

	 	 	Date
	Signature	 	 

 

Documents returned to Custodian:

 

	 	 	Date
	Custodian	 	 

 

    	 

    	 

    

 

EXHIBIT 10

 

FORM OF MONTHLY LOSS REPORT

 

    	 

    	 

    

 

Exhibit : Calculation
of Realized Loss/Gain Form 332– Instruction Sheet

NOTE: Do not net or combine items. Show all expenses
individually and all credits as separate line items. Claim packages are due on the remittance report date. Late submissions may
result in claims not being passed until the following month. The Servicer is responsible to remit all funds pending loss approval
and /or resolution of any disputed items. 

 

The numbers on the 332 form correspond
with the numbers listed below.

 

Liquidation and Acquisition Expenses:

1.           The
Actual Unpaid Principal Balance of the Mortgage Loan. For documentation, an Amortization Schedule from date of default through
liquidation breaking out the net interest and servicing fees advanced is required.

 2.           The
Total Interest Due less the aggregate amount of servicing fee that would have been earned if all delinquent payments had been
made as agreed. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest
and servicing fees advanced is required.

3.           Accrued
Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis. For documentation,
an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is
required.

4-12.     Complete
as applicable. Required documentation:

* For
taxes and insurance advances – see page 2 of 332 form - breakdown required showing period of coverage, base tax,
interest, penalty. Advances prior to default require evidence of servicer efforts to recover advances.

* For escrow
advances - complete payment history (to calculate advances from last positive escrow balance forward)

* Other expenses
-  copies of corporate advance history showing all payments

* REO repairs
> $1500 require explanation

* REO repairs
>$3000 require evidence of at least 2 bids.

* Short Sale
or Charge Off require P&L supporting the decision and WFB’s approved Officer Certificate

* Unusual or
extraordinary items may require further documentation.

13.         The
total of lines 1 through 12.

 

Credits: 

14-21.    Complete
as applicable. Required documentation:

* Copy
of the HUD 1 from the REO sale. If a 3rd Party Sale, bid instructions and Escrow Agent / Attorney Letter of
Proceeds Breakdown.

* Copy of
EOB for any MI or gov't guarantee

* All other
credits need to be clearly defined on the 332 form            

22.         The
total of lines 14 through 21.

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

  

    	Page 1 of 5

    	 

    

 

Please Note:       For
HUD/VA loans, use line (18a) for Part A/Initial proceeds and line (18b) for Part B/Supplemental proceeds.

 

Total Realized Loss (or
Amount of Any Gain)

23.         The
total derived from subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis
( ).

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 2 of 5

    	 

    

 

Exhibit
3A: Calculation of Realized Loss/Gain Form 332

 

	Prepared by: 	 	 	Date: 	 
	Phone: 	 	 	Email Address:	 

  

	 Servicer
                                                         Loan No.

         
	 	 Servicer
                                                         Name

         
	 	 Servicer
                                                         Address

         

         

 

WELLS FARGO BANK, N.A. Loan No._____________________________

 

Borrower's Name: 

_________________________________________________________

Property Address: _________________________________________________________

 

	Liquidation Type: 	REO Sale	3rd Party Sale	Short Sale	Charge Off

 

Was this loan granted a Bankruptcy deficiency or
cramdown                   Yes                         No

If “Yes”, provide deficiency
or cramdown amount _______________________________

 

Liquidation and Acquisition Expenses:

  

	(1)	 	Actual Unpaid Principal Balance of Mortgage Loan	 	$		(1)
	(2)	 	Interest accrued at Net Rate	 	 		(2)
	(3)	 	Accrued Servicing Fees	 	 		(3)
	(4)	 	Attorney's Fees	 	 		(4)
	(5)	 	Taxes (see page 2)	 	 		(5)
	(6)	 	Property Maintenance	 	 		(6)
	(7)	 	MI/Hazard Insurance Premiums (see page 2)	 	 		(7)
	(8)	 	Utility Expenses	 	 		(8)
	(9)	 	Appraisal/BPO	 	 		(9)
	(10)	 	Property Inspections	 	 		(10)
	(11)	 	FC Costs/Other Legal Expenses	 	 		(11)

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 3 of 5

    	 

    

  

 

	(12)	 	Other (itemize)	 	 	________________	(12)
		 	Cash for Keys__________________________	 	 		(12)
	 	 	HOA/Condo Fees_______________________	 	 		(12)
	 	 	______________________________________	 	 		(12)
	 	 	 	 	 		 
	 	 	Total Expenses	 	$		(13)
	Credits:	 	 	 	 		 
	(14)	 	Escrow Balance	 	$		(14)
	(15)	 	HIP Refund	 	 		(15)
	(16)	 	Rental Receipts	 	 		(16)
	(17)	 	Hazard Loss Proceeds	 	 		(17)
	(18)	 	Primary Mortgage Insurance / Gov’t Insurance	 	 		(18a) HUD Part A
	 	 		 	 		(18b) HUD Part B
	(19)	 	Pool Insurance Proceeds	 	 		(19)
	(20)	 	Proceeds from Sale of Acquired Property	 	 		(20)
	(21)	 	Other (itemize)	 	 		(21)
	 	 	_________________________________________	 	 		(21)
	 	 	 	 	 		 
	 	 	Total Credits	 	$		(22)
	Total Realized Loss (or Amount of Gain)	 	$		(23)

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 4 of 5

    	 

    

 

Escrow Disbursement Detail

 

	Type

(Tax

/Ins.)
	 	Date

Paid	 	Period
    of

Coverage	 	Total

Paid	 	Base

Amount	 	Penalties	 	Interest
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 5 of 5

    	 

    

 

EXHIBIT 11

 

FORM OF DELINQUENCY REPORTING

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 1 of 8

    	 

    

 

Exhibit
: Standard File Layout – Delinquency Reporting

 

*The column/header names in bold
are the minimum fields Wells Fargo must receive from every Servicer

 

	Column/Header Name	 	Description	 	Decimal	 	Format

    Comment
	SERVICER_LOAN_NBR	 	A unique
    number assigned to a loan by the Servicer.  This may be different than the LOAN_NBR	 	 	 	 
	LOAN_NBR	 	A unique
    identifier assigned to each loan by the originator.	 	 	 	 
	CLIENT_NBR	 	Servicer
    Client Number	 	 	 	 
	SERV_INVESTOR_NBR	 	Contains
    a unique number as assigned by an external servicer to identify a group of loans in their system.	 	 	 	 
	BORROWER_FIRST_NAME	 	First Name
    of the Borrower.	 	 	 	 
	BORROWER_LAST_NAME	 	Last name
    of the borrower.	 	 	 	 
	PROP_ADDRESS	 	Street Name
    and Number of Property	 	 	 	 
	PROP_STATE	 	The state
    where the  property located.	 	 	 	 
	PROP_ZIP	 	Zip code
    where the property is located.	 	 	 	 
	BORR_NEXT_PAY_DUE_DATE	 	The
    date that the borrower's next payment is due to the servicer at the end of processing cycle, as reported by Servicer.	 	 	 	MM/DD/YYYY
	LOAN_TYPE	 	Loan Type
    (i.e. FHA, VA, Conv)	 	 	 	 
	BANKRUPTCY_FILED_DATE	 	The date
    a particular bankruptcy claim was filed.	 	 	 	MM/DD/YYYY
	BANKRUPTCY_CHAPTER_CODE	 	The chapter
    under which the bankruptcy was filed.	 	 	 	 
	BANKRUPTCY_CASE_NBR	 	The case
    number assigned by the court to the bankruptcy filing.	 	 	 	 
	POST_PETITION_DUE_DATE	 	The payment
    due date once the bankruptcy has been approved by the courts	 	 	 	MM/DD/YYYY
	BANKRUPTCY_DCHRG_DISM_DATE	 	The Date
    The Loan Is Removed From Bankruptcy. Either by Dismissal, Discharged and/or a Motion For Relief Was Granted.	 	 	 	MM/DD/YYYY
	LOSS_MIT_APPR_DATE	 	The Date
    The Loss Mitigation Was Approved By The Servicer	 	 	 	MM/DD/YYYY
	LOSS_MIT_TYPE	 	The Type
    Of Loss Mitigation Approved For A Loan Such As;	 	 	 	 
	LOSS_MIT_EST_COMP_DATE	 	The Date
    The Loss Mitigation /Plan Is Scheduled To End/Close	 	 	 	MM/DD/YYYY

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

   

    	Page 2 of 8

    	 

    

 

	LOSS_MIT_ACT_COMP_DATE	 	The
    Date The Loss Mitigation Is Actually Completed	 	 	 	MM/DD/YYYY
	FRCLSR_APPROVED_DATE	 	The date
    DA Admin sends a letter to the servicer with instructions to begin foreclosure proceedings.	 	 	 	MM/DD/YYYY
	ATTORNEY_REFERRAL_DATE	 	Date File
    Was Referred To Attorney to Pursue Foreclosure	 	 	 	MM/DD/YYYY
	FIRST_LEGAL_DATE	 	Notice of
    1st legal filed by an Attorney in a Foreclosure Action	 	 	 	MM/DD/YYYY
	FRCLSR_SALE_EXPECTED_DATE	 	The date
    by which a foreclosure sale is expected to occur.	 	 	 	MM/DD/YYYY
	FRCLSR_SALE_DATE	 	The actual
    date of the foreclosure sale.	 	 	 	MM/DD/YYYY
	FRCLSR_SALE_AMT	 	The amount
    a property sold for at the foreclosure sale.	 	2	 	No
    commas(,) or dollar signs ($)
	EVICTION_START_DATE	 	The date
    the servicer initiates eviction of the borrower.	 	 	 	MM/DD/YYYY
	EVICTION_COMPLETED_DATE	 	The date
    the court revokes legal possession of the property from the borrower.	 	 	 	MM/DD/YYYY
	LIST_PRICE	 	The price
    at which an REO property is marketed.	 	2	 	No
    commas(,) or dollar signs ($)
	LIST_DATE	 	The date
    an REO property is listed at a particular price.	 	 	 	MM/DD/YYYY
	OFFER_AMT	 	The dollar
    value of an offer for an REO property.	 	2	 	No
    commas(,) or dollar signs ($)
	OFFER_DATE_TIME	 	The date
    an offer is received by DA Admin or by the Servicer.	 	 	 	MM/DD/YYYY
	REO_CLOSING_DATE	 	The date
    the REO sale of the property is scheduled to close.	 	 	 	MM/DD/YYYY
	REO_ACTUAL_CLOSING_DATE	 	Actual Date
    Of REO Sale	 	 	 	MM/DD/YYYY
	OCCUPANT_CODE	 	Classification
    of how the property is occupied.	 	 	 	 
	PROP_CONDITION_CODE	 	A code that
    indicates the condition of the property.	 	 	 	 
	PROP_INSPECTION_DATE	 	The date
    a  property inspection is performed.	 	 	 	MM/DD/YYYY
	APPRAISAL_DATE	 	The date
    the appraisal was done.	 	 	 	MM/DD/YYYY
	CURR_PROP_VAL	 	 The
    current "as is" value of the property based on brokers price opinion or appraisal.	 	2	 	 

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 3 of 8

    	 

    

 

	REPAIRED_PROP_VAL	 	The
    amount the property would be worth if repairs are completed pursuant to a broker's price opinion or appraisal.	 	2	 	 
	If
    applicable:	 	 	 	 	 	 
	DELINQ_STATUS_CODE	 	FNMA Code
    Describing Status of Loan	 	 	 	 
	DELINQ_REASON_CODE	 	The circumstances
    which caused a borrower to stop paying on a loan.   Code indicates the reason why the loan is in default for this
    cycle.	 	 	 	 
	MI_CLAIM_FILED_DATE	 	Date Mortgage
    Insurance Claim Was Filed With Mortgage Insurance Company.	 	 	 	MM/DD/YYYY
	MI_CLAIM_AMT	 	Amount of
    Mortgage Insurance Claim Filed	 	 	 	No
    commas(,) or dollar signs ($)
	MI_CLAIM_PAID_DATE	 	Date Mortgage
    Insurance Company Disbursed Claim Payment	 	 	 	MM/DD/YYYY
	MI_CLAIM_AMT_PAID	 	Amount Mortgage
    Insurance Company Paid On Claim	 	2	 	No
    commas(,) or dollar signs ($)
	POOL_CLAIM_FILED_DATE	 	Date Claim
    Was Filed With Pool Insurance Company	 	 	 	MM/DD/YYYY
	POOL_CLAIM_AMT	 	Amount of
    Claim Filed With Pool Insurance Company	 	2	 	No
    commas(,) or dollar signs ($)
	POOL_CLAIM_PAID_DATE	 	Date Claim
    Was Settled and The Check Was Issued By The Pool Insurer	 	 	 	MM/DD/YYYY
	POOL_CLAIM_AMT_PAID	 	Amount Paid
    On Claim By Pool Insurance Company	 	2	 	No
    commas(,) or dollar signs ($)
	FHA_PART_A_CLAIM_FILED_DATE	 	 Date
    FHA Part A Claim Was Filed With HUD	 	 	 	MM/DD/YYYY
	FHA_PART_A_CLAIM_AMT	 	 Amount
    of FHA Part A Claim Filed	 	2	 	No
    commas(,) or dollar signs ($)
	FHA_PART_A_CLAIM_PAID_DATE	 	 Date
    HUD Disbursed Part A Claim Payment	 	 	 	MM/DD/YYYY
	FHA_PART_A_CLAIM_PAID_AMT	 	 Amount
    HUD Paid on Part A Claim	 	2	 	No
    commas(,) or dollar signs ($)
	FHA_PART_B_CLAIM_FILED_DATE	 	  Date
    FHA Part B Claim Was Filed With HUD	 	 	 	MM/DD/YYYY
	FHA_PART_B_CLAIM_AMT	 	  Amount
    of FHA Part B Claim Filed	 	2	 	No
    commas(,) or dollar signs ($)
	FHA_PART_B_CLAIM_PAID_DATE	 	   Date
    HUD Disbursed Part B Claim Payment	 	 	 	MM/DD/YYYY

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 4 of 8

    	 

    

 

	FHA_PART_B_CLAIM_PAID_AMT	 	 Amount HUD Paid on Part B Claim	 	2	 	No commas(,) or dollar signs ($)
	VA_CLAIM_FILED_DATE	 	 Date VA Claim Was Filed With the Veterans Admin	 	 	 	MM/DD/YYYY
	VA_CLAIM_PAID_DATE	 	 Date Veterans Admin. Disbursed VA Claim Payment	 	 	 	MM/DD/YYYY
	VA_CLAIM_PAID_AMT	 	 Amount Veterans Admin. Paid on VA Claim	 	2	 	No commas(,) or dollar signs ($)
	MOTION_FOR_RELIEF_DATE	 	The date the Motion for
    Relief was filed	 	10	 	MM/DD/YYYY
	FRCLSR_BID_AMT	 	The foreclosure sale bid amount	 	11	 	No commas(,) or dollar signs ($)
	FRCLSR_SALE_TYPE	 	The foreclosure sales results: REO,
    Third Party, Conveyance to HUD/VA	 	 	 	 
	REO_PROCEEDS	 	The net proceeds from the sale of
    the REO property. 	 	 	 	No commas(,) or dollar signs ($)
	BPO_DATE	 	The date the BPO was done.	 	 	 	 
	CURRENT_FICO	 	The current FICO score	 	 	 	 
	HAZARD_CLAIM_FILED_DATE	 	The date the Hazard Claim was filed
    with the Hazard Insurance Company.	 	10	 	MM/DD/YYYY
	HAZARD_CLAIM_AMT	 	The amount of the Hazard Insurance
    Claim filed.	 	11	 	No commas(,) or dollar signs ($)
	HAZARD_CLAIM_PAID_DATE	 	The date the Hazard Insurance Company
    disbursed the claim payment.	 	10	 	MM/DD/YYYY
	HAZARD_CLAIM_PAID_AMT	 	The amount the Hazard Insurance Company
    paid on the claim.	 	11	 	No commas(,) or dollar signs ($)
	ACTION_CODE	 	Indicates loan status	 	 	 	Number
	NOD_DATE	 	 	 	 	 	MM/DD/YYYY
	NOI_DATE	 	 	 	 	 	MM/DD/YYYY
	ACTUAL_PAYMENT_PLAN_START_DATE	 	 	 	 	 	MM/DD/YYYY
	ACTUAL_PAYMENT_ PLAN_END_DATE	 	 	 	 	 	 
	ACTUAL_REO_START_DATE	 	 	 	 	 	MM/DD/YYYY
	REO_SALES_PRICE	 	 	 	 	 	Number
	REALIZED_LOSS/GAIN	 	As defined in the Servicing Agreement	 	 	 	Number

 

Exhibit
2: Standard File Codes – Delinquency Reporting

 

The Loss Mit Type field should show the approved
Loss Mitigation Code as follows:

·   ASUM- Approved
Assumption

·   BAP-     Borrower
Assistance Program

·   CO-      
 Charge Off

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 5 of 8

    	 

    

 

·   DIL-
      Deed-in-Lieu

·   FFA-
     Formal Forbearance Agreement

·   MOD-
   Loan Modification

·   PRE-
     Pre-Sale

·   SS-
        Short Sale

·   MISC-   Anything
else approved by the PMI or Pool Insurer

 

NOTE: Wells Fargo Bank will accept alternative
Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other
than those above are used, the Servicer must supply Wells Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.

 

The Occupant Code field should show the current
status of the property code as follows:

		·	Mortgagor

		·	Tenant

		·	Unknown
                                                                                                     

		·	Vacant

 

The Property Condition field should show the
last reported condition of the property as follows:

		·	Damaged

		·	Excellent

		·	Fair

		·	Gone

		·	Good

		·	Poor

		·	Special
                                                                                                              Hazard

		·	Unknown

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 6 of 8

    	 

    
  

Exhibit
2: Standard File Codes – Delinquency Reporting, Continued

 

The FNMA Delinquent Reason Code field should
show the Reason for Delinquency as follows:

 

	Delinquency 
 Code	 	Delinquency
    Description
	001	 	FNMA-Death of principal mortgagor
	002	 	FNMA-Illness of principal mortgagor
	003	 	FNMA-Illness of mortgagor’s family
    member
	004	 	FNMA-Death of mortgagor’s family
    member
	005	 	FNMA-Marital difficulties
	006	 	FNMA-Curtailment of income
	007	 	FNMA-Excessive Obligation
	008	 	FNMA-Abandonment of property
	009	 	FNMA-Distant employee transfer
	011	 	FNMA-Property problem
	012	 	FNMA-Inability to sell property
	013	 	FNMA-Inability to rent property
	014	 	FNMA-Military Service
	015	 	FNMA-Other
	016	 	FNMA-Unemployment
	017	 	FNMA-Business failure
	019	 	FNMA-Casualty loss
	022	 	FNMA-Energy environment costs
	023	 	FNMA-Servicing problems
	026	 	FNMA-Payment adjustment
	027	 	FNMA-Payment dispute
	029	 	FNMA-Transfer of ownership pending
	030	 	FNMA-Fraud
	031	 	FNMA-Unable to contact borrower
	INC	 	FNMA-Incarceration

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 7 of 8

    	 

    

 

Exhibit
2: Standard File Codes – Delinquency Reporting, Continued

 

The FNMA Delinquent Status Code field should
show the Status of Default as follows:

 

	Status Code	 	Status
    Description
	09	 	Forbearance
	17	 	Pre-foreclosure Sale Closing Plan Accepted
	24	 	Government Seizure
	26	 	Refinance
	27	 	Assumption
	28	 	Modification
	29	 	Charge-Off
	30	 	Third Party Sale
	31	 	Probate
	32	 	Military Indulgence
	43	 	Foreclosure Started
	44	 	Deed-in-Lieu Started
	49	 	Assignment Completed
	61	 	Second Lien Considerations
	62	 	Veteran’s Affairs-No Bid
	63	 	Veteran’s Affairs-Refund
	64	 	Veteran’s Affairs-Buydown
	65	 	Chapter 7 Bankruptcy
	66	 	Chapter 11 Bankruptcy
	67	 	Chapter 13 Bankruptcy

 

Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.

© Copyright Wells Fargo Bank, Corporate
Trust Services

Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com

 

    	Page 8 of 8

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