Document:

EXHIBIT 10.1
                                 EXECUTION COPY

                   RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,

                                  as Purchaser,

                           GMAC MORTGAGE CORPORATION,

                             as Seller and Servicer,

                   WALNUT GROVE HOME EQUITY LOAN TRUST 2000-A,

                                   as Seller,

                     GMACM HOME EQUITY LOAN TRUST 2000-HE4,

                                   as Issuer,

                                       and

                        WELLS FARGO BANK MINNESOTA, N.A.,

                              as Indenture Trustee

                  --------------------------------------------

                        MORTGAGE LOAN PURCHASE AGREEMENT
                  --------------------------------------------

                          Dated as of November 29, 2000

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<TABLE>
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                                TABLE OF CONTENTS

                                                                                            Page

<S>                                                                                        <C>
ARTICLE I         DEFINITIONS...............................................................2

        Section 1.1     Definitions.........................................................2

        Section 1.2     Other Definitional Provisions.......................................2

ARTICLE II        SALE OF MORTGAGE LOANS AND RELATED PROVISIONS.............................3

        Section 2.1     Sale of Initial Mortgage Loans......................................3

        Section 2.2     Sale of Subsequent Mortgage Loans...................................7

        Section 2.3     Payment of Purchase Price..........................................10

        Section 2.4     Variable Funding Notes on or after the Closing Date................11

        Section 2.5     Draws During Rapid Amortization Period.............................11

ARTICLE III       REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH......................12

        Section 3.1     GMACM Representations and Warranties...............................12

ARTICLE IV        SELLERS' COVENANTS.......................................................21

        Section 4.1     Covenants of the Sellers...........................................21

ARTICLE V         SERVICING................................................................22

        Section 5.1     Servicing..........................................................22

ARTICLE VI        INDEMNIFICATION BY THE SELLERS WITH RESPECT TO THE MORTGAGE LOANS........22

        Section 6.1     Limitation on Liability of the Sellers.............................22

ARTICLE VII       TERMINATION..............................................................22

        Section 7.1     Termination........................................................22

ARTICLE VIII      MISCELLANEOUS PROVISIONS.................................................23

        Section 8.1     Amendment..........................................................23

        Section 8.2     GOVERNING LAW......................................................23

        Section 8.3     Notices............................................................23

        Section 8.4     Severability of Provisions.........................................24

        Section 8.5     Relationship of Parties............................................24

        Section 8.6     Counterparts.......................................................24

        Section 8.7     Further Agreements.................................................24

        Section 8.8     Intention of the Parties...........................................24

        Section 8.9     Successors and Assigns; Assignment of this Agreement...............25

        Section 8.10    Survival...........................................................25

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        Section 8.11    Third Party Beneficiary............................................26

EXHIBIT 1  MORTGAGE LOAN SCHEDULE...........................................................0

EXHIBIT 2  FORM OF SUBSEQUENT TRANSFER AGREEMENT............................................1

EXHIBIT 3  FORM OF ADDITION NOTICE..........................................................2

                                        ii
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        This Mortgage Loan Purchase  Agreement  (the  "Agreement"),  dated as of
November 29, 2000, is made among GMAC Mortgage Corporation,  as seller ("GMACM")
and as servicer (in such  capacity,  the  "Servicer"),  Walnut Grove Home Equity
Loan Trust  2000-A,  as seller  ("WG  Trust" and,  together  with GMACM,  each a
"Seller" and collectively, the "Sellers"),  Residential Asset Mortgage Products,
Inc., as purchaser (the "Purchaser"),  GMACM Home Equity Loan Trust 2000-HE4, as
issuer  (the  "Issuer"),  and Wells Fargo Bank  Minnesota,  N.A.,  as  indenture
trustee (the "Indenture Trustee").

                                   WITNESSETH:

        WHEREAS,  GMACM,  in the ordinary  course of its  business  acquires and
originates  mortgage  loans and acquired or originated all of the mortgage loans
listed on the Mortgage Loan Schedule  attached as Exhibit 1 hereto (the "Initial
Mortgage Loans");

        WHEREAS,  GMACM sold a portion of the  Initial  Mortgage  Loans (the "WG
Trust Initial  Mortgage  Loans") and intends to sell a portion of the Subsequent
Mortgage Loans to be sold by WG Trust hereunder,  to Walnut Grove Funding,  Inc.
("Walnut  Grove"),  pursuant to a Mortgage Loan Purchase  Agreement (the "Walnut
Grove Purchase  Agreement"),  dated as of June 1, 2000,  among Walnut Grove,  as
purchaser,  GMACM,  as  seller,  WG  Trust,  as Issuer  and Bank  One,  National
Association, as trustee (each date of sale, a "Prior Transfer Date");

        WHEREAS,  Walnut Grove sold the WG Trust  Initial  Mortgage  Loans to WG
Trust pursuant to a Trust  Agreement,  dated as of June 1, 2000,  between Walnut
Grove, as depositor and Wilmington Trust Company, as owner trustee;

        WHEREAS,  GMACM owns the Cut-Off Date Principal Balances and the Related
Documents for the portion of Initial  Mortgage Loans  identified on the Mortgage
Loan  Schedule -A attached  as Exhibit 1-A hereto (the "GMACM  Initial  Mortgage
Loans"), including rights to (a) any property acquired by foreclosure or deed in
lieu of foreclosure or otherwise, and (b) the proceeds of any insurance policies
covering the GMACM Initial Mortgage Loans;

        WHEREAS,  WG Trust owns the  Cut-Off  Date  Principal  Balances  and the
Related  Documents for the WG Trust  Initial  Mortgage  Loans  identified on the
Mortgage  Loan Schedule -B attached as Exhibit 1-B hereto,  including  rights to
(a) any  property  acquired by  foreclosure  or deed in lieu of  foreclosure  or
otherwise,  and (b) the proceeds of any insurance policies covering the WG Trust
Initial Mortgage Loans;

        WHEREAS, the parties hereto desire that: (i) GMACM sell the Cut-Off Date
Principal  Balances of the GMACM Initial  Mortgage Loans to the Purchaser on the
Closing Date pursuant to the terms of this  Agreement  together with the Related
Documents,  and  thereafter  all  Additional  Balances  relating  to the Initial
Mortgage  Loans  created  on or after  the  Cut-Off  Date and prior to the Rapid
Amortization  Period,  (ii) WG Trust sell the Cut-Off Date Principal Balances of
the WG  Trust  Initial  Mortgage  Loans to the  Purchaser  on the  Closing  Date
pursuant to the terms of this  Agreement,  together with the Related  Documents,
including all of its rights to the Additional  Balances relating to the WG Trust
Initial  Mortgage Loans created on or after the Cut-Off Date,  (iii) the Sellers
may sell  Subsequent  Mortgage  Loans to the  Issuer  on one or more  Subsequent
Transfer  Dates  pursuant  to the  terms  of  the  related  Subsequent  Transfer
Agreement,  and (iv) each Seller make certain  representations and warranties on
the Closing Date and on each Subsequent Transfer Date;

<PAGE>

        WHEREAS,  pursuant to the Trust  Agreement,  the Purchaser will sell the
Initial  Mortgage  Loans and transfer all of its rights under this  Agreement to
the Issuer on the Closing Date;

     WHEREAS,  pursuant to the terms of the  Servicing  Agreement,  the Servicer
will service the Mortgage Loans;

     WHEREAS,  pursuant  to the terms of the Trust  Agreement,  the Issuer  will
issue the Certificates;

     WHEREAS,  pursuant to the terms of the Indenture, the Issuer will issue the
Notes, secured by the Trust Estate;

        NOW,  THEREFORE,   in  consideration  of  the  mutual  covenants  herein
contained, the parties hereto agree as follows:

                                   ARTICLE I

                                   DEFINITIONS

Section 1.1 Definitions. For all purposes of this Agreement, except as otherwise
expressly provided herein or unless the context otherwise requires,  capitalized
terms not  otherwise  defined  herein shall have the  meanings  assigned to such
terms in the  Definitions  contained in Appendix A to the indenture  dated as of
November  29,  2000 (the  "Indenture"),  between  the Issuer  and the  Indenture
Trustee,  which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.

Section 1.2 Other Definitional  Provisions.  All terms defined in this Agreement
shall have the defined  meanings when used in any  certificate or other document
made or delivered pursuant hereto unless otherwise defined therein.

        As used in this Agreement and in any  certificate or other document made
or delivered  pursuant hereto or thereto,  accounting  terms not defined in this
Agreement or in any such  certificate or other  document,  and accounting  terms
partly defined in this Agreement or in any such  certificate or other  document,
to the extent not  defined,  shall have the  respective  meanings  given to them
under  generally  accepted  accounting  principles.   To  the  extent  that  the
definitions of accounting  terms in this Agreement or in any such certificate or
other document are inconsistent  with the meanings of such terms under generally
accepted accounting  principles,  the definitions contained in this Agreement or
in any such certificate or other document shall control.

        The words  "hereof,"  "herein,"  "hereunder" and words of similar import
when used in this Agreement  shall refer to this Agreement as a whole and not to
any  particular  provision  of this  Agreement;  Section and Exhibit  references
contained in this  Agreement  are  references  to Sections and Exhibits in or to
this Agreement  unless  otherwise  specified;  the term  "including"  shall mean

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<PAGE>

"including  without  limitation";  "or"  shall  include  "and/or";  and the term
"proceeds" shall have the meaning ascribed thereto in the UCC.

        The  definitions  contained  in this  Agreement  are  applicable  to the
singular as well as the plural forms of such terms and to the  masculine as well
as the feminine and neuter genders of such terms.

        Any agreement, instrument or statute defined or referred to herein or in
any  instrument  or  certificate  delivered in  connection  herewith  means such
agreement,  instrument  or statute  as from time to time  amended,  modified  or
supplemented and includes (in the case of agreements or instruments)  references
to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns.

                                   ARTICLE II

                  SALE OF MORTGAGE LOANS AND RELATED PROVISIONS

Section 2.1    Sale of Initial Mortgage Loans.

(a) GMACM,  by the execution and delivery of this  Agreement,  does hereby sell,
assign, set over, and otherwise convey to the Purchaser,  without recourse,  all
of its  right,  title and  interest  in, to and  under the  following,  wherever
located:  (i) the GMACM  Initial  Mortgage  Loans  (including  the Cut-Off  Date
Principal Balances now existing and all Additional  Balances  thereafter arising
thereunder to and including the date  immediately  preceding the commencement of
the Rapid  Amortization  Period relating thereto;  provided,  however,  that any
Principal  Balance  represented  by a Draw made  during  the Rapid  Amortization
Period and  interest  thereon and money due or to become due in respect  thereof
will not be or  deemed to be  transferred  to the  Purchaser,  and GMACM in such
event shall retain ownership of each Principal Balance  represented by each such
Draw and  interest  thereon and money due or to become due in respect  thereof),
all interest accruing thereon,  all monies due or to become due thereon, and all
collections in respect thereof received on or after the Cut-Off Date (other than
interest  thereon in respect of any period prior to the Cut-Off Date);  (ii) the
interest  of GMACM in any  insurance  policies  in respect of the GMACM  Initial
Mortgage Loans; and (iii) all proceeds of the foregoing; provided, however, that
the Purchaser does not assume the obligation under each Loan Agreement  relating
to a HELOC to fund Draws to the Mortgagor  thereunder,  and the Purchaser  shall
not be obligated or permitted to fund any such Draws, it being agreed that GMACM
will retain the obligation to fund future Draws. Such conveyance shall be deemed
to be made: (1) with respect to the Cut-Off Date Principal  Balances,  as of the
Closing  Date;  and (2) with  respect to the amount of each  Additional  Balance
created on or after the Cut-Off Date and prior to the  commencement of the Rapid
Amortization  Period,  as of the later of the Closing Date and the date that the
corresponding  Draw was made pursuant to the related Loan Agreement,  subject to
the receipt by GMACM of  consideration  therefor as provided herein under clause
(a) of Section 2.3.

(b) WG Trust, by the execution and delivery of this Agreement, does hereby sell,
assign, set over, and otherwise convey to the Purchaser,  without recourse,  all
of its  right,  title and  interest  in, to and  under the  following,  wherever
located:  (i) the WG Trust Initial  Mortgage  Loans  (including the Cut-Off Date
Principal  Balances  now  existing  and its  rights to  acquire  all  Additional

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Balances  and  Excluded  Amounts  thereafter  arising  thereunder,  all interest
accruing thereon,  all monies due or to become due thereon,  and all collections
in respect  thereof  received on or after the Cut-Off Date (other than  interest
thereon in respect of any period prior to the Cut-Off  Date);  (ii) the interest
of WG  Trust in any  insurance  policies  in  respect  of the WG  Trust  Initial
Mortgage Loans; and (iii) all proceeds of the foregoing; provided, however, that
the Purchaser does not assume the obligation under each Loan Agreement  relating
to a HELOC to fund Draws to the Mortgagor  thereunder,  and the Purchaser  shall
not be obligated or permitted to fund any such Draws, it being agreed that GMACM
has retained the  obligation  to fund future Draws  pursuant to the Walnut Grove
Purchase Agreement. Such conveyance shall be deemed to be made as of the Closing
Date.

        Each Additional Balance with respect to a WG Trust Initial Mortgage Loan
created on or after the Cut-Off Date and prior to the  commencement of the Rapid
Amortization  Period  will be  deemed  to have  been  conveyed  by  GMACM to the
Purchaser  as  of  the  later  of  the  Closing  Date  and  the  date  that  the
corresponding  Draw was made pursuant to the related Loan Agreement,  subject to
the receipt by GMACM of  consideration  therefor as provided herein under clause
(a) of  Section  2.3.  Any  Principal  Balance  of a WG  Initial  Mortgage  Loan
represented  by a Draw  funded by GMACM and made  during the Rapid  Amortization
Period,  including  interest  thereon  and money due or to become due in respect
thereof,  will not be deemed to be transferred  to the  Purchaser,  and GMACM in
such event shall retain ownership of each Principal Balance  represented by each
such  Draw and  interest  thereon  and money  due or to  become  due in  respect
thereof.

        In addition,  the Issuer shall deposit with the  Indenture  Trustee from
proceeds of the issuance of the  Securities on the Closing Date (i) the Original
Pre-Funded  Amount for deposit in the Pre-Funding  Account and (ii) the Interest
Coverage Amount for deposit in the Capitalized Interest Account.

(c) In connection  with the  conveyance  by GMACM of the GMACM Initial  Mortgage
Loans and any  Subsequent  Mortgage  Loans,  GMACM  further  agrees,  at its own
expense,  on or prior to the Closing Date with respect to the Principal Balances
of the GMACM Initial  Mortgage  Loans and on or prior to the related  Subsequent
Cut-Off  Date in the  case  of any  Subsequent  Mortgage  Loans  sold by it,  to
indicate in its books and records  that the GMACM  Initial  Mortgage  Loans have
been sold to the Purchaser pursuant to this Agreement,  and, in the case of such
Subsequent  Mortgage  Loans,  to the Issuer  pursuant to the related  Subsequent
Transfer  Agreement,  and to deliver to the Purchaser true and complete lists of
all of the Mortgage  Loans  specifying  for each  Mortgage  Loan (i) its account
number,  (ii) its Cut-Off  Date  Principal  Balance or  Subsequent  Cut-Off Date
Principal Balance and (iii) the Loan Group or Loan Groups to which such Mortgage
Loans  relate.  Mortgage Loan Schedule -A, which forms part of the Mortgage Loan
Schedule,  shall be  marked  as  Exhibit  1-A to this  Agreement  and is  hereby
incorporated into and made a part of this Agreement.

(d) In  connection  with the  conveyance  by WG  Trust  of the WG Trust  Initial
Mortgage Loans and any Subsequent  Mortgage Loans,  WG Trust further agrees,  at
its own expense,  on or prior to the Closing Date with respect to the  Principal
Balances of the WG Trust Initial  Mortgage  Loans and on or prior to the related
Subsequent Cut-Off Date in the case of any Subsequent Mortgage Loans sold by it,
to indicate in its books and records that the WG Trust  Initial  Mortgage  Loans
have been sold to the Purchaser pursuant to this Agreement,  and, in the case of

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<PAGE>

such Subsequent Mortgage Loans, to the Issuer pursuant to the related Subsequent
Transfer  Agreement.  GMACM, as Servicer of the Mortgage Loans sold by WG Trust,
agrees  to  deliver  to the  Purchaser  true  and  complete  lists of all of the
Mortgage  Loans  sold by WG  Trust  specifying  for each  Mortgage  Loan (i) its
account number, (ii) its Cut-Off Date Principal Balance and (iii) the Loan Group
or Loan Groups to which such Mortgage  Loans relate.  Mortgage Loan Schedule -B,
which forms part of the Mortgage Loan  Schedule,  shall be marked as Exhibit 1-B
to this  Agreement  and is  hereby  incorporated  into  and  made a part of this
Agreement.

(e) In connection  with the  conveyance  by GMACM of the GMACM Initial  Mortgage
Loans and any  Subsequent  Mortgage  Loans sold by it and the  conveyance  by WG
Trust of the WG Trust Initial  Mortgage Loans and any Subsequent  Mortgage Loans
sold by it, GMACM shall on behalf of the Purchaser  deliver to, and deposit with
the  Custodian,  at least five (5) Business  Days before the Closing Date in the
case of an  Initial  Mortgage  Loan,  and,  on behalf of the  Issuer,  three (3)
Business  Days prior to the related  Subsequent  Transfer  Date in the case of a
Subsequent  Mortgage Loan,  with respect to (i) below,  or within 90 days of the
Closing Date or the  Subsequent  Transfer Date, as the case may be, with respect
to (ii) through (v) below,  the following  documents or instruments with respect
to each related Mortgage Loan of the related Seller:

(i) the original Loan Agreement  endorsed or assigned  without recourse in blank
(which  endorsement  shall contain  either an original  signature or a facsimile
signature  of an  authorized  officer of GMACM) or, with respect to any Mortgage
Loan as to which  the  original  Loan  Agreement  has been  permanently  lost or
destroyed and has not been replaced, a Lost Note Affidavit;

(ii) the  original  Mortgage  with  evidence of  recording  thereon,  or, if the
original  Mortgage has not yet been returned from the public recording office, a
copy of the original  Mortgage  certified  by GMACM that such  Mortgage has been
sent for recording, or a county certified copy of such Mortgage in the event the
recording office keeps the original or if the original is lost;

(iii) assignments  (which may be included in one or more blanket  assignments if
permitted by applicable  law) of the Mortgage in  recordable  form from GMACM to
"Wells  Fargo Bank  Minnesota,  N.A.,  as Indenture  Trustee  under that certain
Indenture  dated as of  November  29,  2000,  for GMACM Home  Equity  Loan Trust
2000-HE4,  Mortgage  Loan-Backed  Term  Notes"  c/o the  Servicer  at an address
specified by the Servicer;

(iv)  originals  of  any  intervening  assignments  of  the  Mortgage  from  the
originator to GMACM, with evidence of recording thereon,  or, if the original of
any such  intervening  assignment  has not yet  been  returned  from the  public
recording office, a copy of such original  intervening  assignment  certified by
GMACM that such original intervening assignment has been sent for recording; and

(v) a true and correct copy of each assumption,  modification,  consolidation or
substitution agreement, if any, relating to such Mortgage Loan.

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<PAGE>

        Within the time period for the review of each Mortgage File set forth in
Section 2.2 of the  Custodial  Agreement,  if a material  defect in any Mortgage
File is discovered  which may materially  and adversely  affect the value of the
related Mortgage Loan, or the interests of the Indenture  Trustee (as pledgee of
the Mortgage Loans), the Noteholders,  the Certificateholders or the Enhancer in
such Mortgage Loan,  including  GMACM's failure to deliver any document required
to be delivered to the Custodian on behalf of the Indenture  Trustee  (provided,
that a Mortgage  File will not be deemed to  contain a defect for an  unrecorded
assignment  under clause (iv) above if GMACM has submitted  such  assignment for
recording  pursuant to the terms of the following  paragraph),  GMACM shall cure
such defect,  repurchase the related  Mortgage Loan at the  Repurchase  Price or
substitute  an  Eligible  Substitute  Loan  therefor  upon  the same  terms  and
conditions set forth in Section 3.1 hereof for breaches of  representations  and
warranties as to the Mortgage Loans.

        In  instances  where an original  Mortgage or any  original  intervening
assignment of Mortgage was not, in  accordance  with clauses (ii) or (iv) above,
delivered by GMACM to the  Custodian  contemporaneously  with the  execution and
delivery of this  Agreement,  GMACM will  deliver or cause to be  delivered  the
originals or certified  copies of such documents to the Custodian  promptly upon
receipt thereof.

        Upon sale of the Initial  Mortgage  Loans,  the  ownership  of each Loan
Agreement,  each related  Mortgage and the contents of the related Mortgage File
shall be vested in the  Purchaser and the ownership of all records and documents
with  respect to the Initial  Mortgage  Loans that are  prepared by or that come
into the possession of either Seller,  as a seller of the Initial Mortgage Loans
hereunder or by GMACM in its capacity as Servicer under the Servicing  Agreement
shall immediately vest in the Purchaser,  and shall be promptly delivered to the
Servicer in the case of  documents  in  possession  of WG Trust and retained and
maintained  in trust by GMACM as the Servicer at the will of the  Purchaser,  in
such custodial  capacity  only. In the event that any original  document held by
GMACM hereunder in its capacity as Servicer is required pursuant to the terms of
this Section to be part of a Mortgage  File,  such  document  shall be delivered
promptly to the Custodian.  Each Seller's  records will  accurately  reflect the
sale of each Initial Mortgage Loan sold by it to the Purchaser.

        The Purchaser hereby acknowledges its acceptance of all right, title and
interest to the property conveyed to it pursuant to this Section 2.1.

(f) The parties hereto intend that the transactions set forth herein  constitute
a sale by the Sellers to the Purchaser of each of the Sellers' right,  title and
interest in and to their respective Initial Mortgage Loans and other property as
and to the  extent  described  above.  In the event the  transactions  set forth
herein are deemed not to be a sale, each Seller hereby grants to the Purchaser a
security  interest in all of such Seller's right,  title and interest in, to and
under all  accounts,  chattel  papers,  general  intangibles,  contract  rights,
certificates of deposit, deposit accounts,  instruments,  documents,  letters of
credit, money, advices of credit,  investment property, goods and other property
consisting of,  arising under or related to the Initial  Mortgage Loans and such
other property, to secure all of such Seller's obligations  hereunder,  and this
Agreement shall and hereby does constitute a security agreement under applicable
law. Each Seller agrees to take or cause to be taken such actions and to execute

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<PAGE>

such  documents,  including  without  limitation the filing of any  continuation
statements with respect to the UCC-1 financing  statements filed with respect to
the  Initial  Mortgage  Loans by the  Purchaser  on the  Closing  Date,  and any
amendments  thereto  required  to  reflect  a change  in the  name or  corporate
structure  of such  Seller  or the  filing  of any  additional  UCC-1  financing
statements  due to the  change  in  the  principal  office  or  jurisdiction  of
incorporation  of such  Seller,  as are  necessary  to perfect  and  protect the
Purchaser's and its assignees'  interests in each Initial  Mortgage Loan and the
proceeds thereof. The Servicer shall file any such continuation  statements on a
timely basis.

Section 2.2    Sale of Subsequent Mortgage Loans.

(a) Subject to the  conditions  set forth in  paragraphs  (b) and (c) below (the
satisfaction of which (other than the conditions specified in paragraphs (b)(i),
(b)(ii),  (b)(iii),  (b)(vi),  (b)(vii) and  (c)(iii))  shall be evidenced by an
Officer's  Certificate  of the  related  Seller  dated  the date of the  related
Subsequent  Transfer  Date),  in  consideration  of the Issuer's  payment of the
purchase  price provided for in Section 2.3 on one or more  Subsequent  Transfer
Dates using amounts on deposit in the Pre-Funding Account, the Custodial Account
(to the extent  permitted by the Servicing  Agreement)  or the Funding  Account,
each Seller  may,  on the related  Subsequent  Transfer  Date,  sell,  transfer,
assign,  set over and convey  without  recourse to the Issuer but subject to the
other  terms  and  provisions  of this  Agreement  all of the  right,  title and
interest of such Seller in and to (i) Subsequent  Mortgage  Loans  identified on
the related Mortgage Loan Schedule attached to the related  Subsequent  Transfer
Agreement  delivered by such Seller on such Subsequent  Transfer Date (including
the Subsequent  Cut-Off Date Principal  Balance then existing and all Additional
Balances and Excluded Amounts thereafter arising thereunder to and including the
date immediately  preceding the commencement of the Rapid Amortization  Period);
provided that Excluded  Amounts shall not be conveyed to the Issuer and shall be
retained  by GMACM,  (ii) all money due or to become due  thereon  and after the
related  Subsequent  Cut-Off  Date and  (iii)  all items  with  respect  to such
Subsequent  Mortgage Loans to be delivered pursuant to Section 2.1 above and the
other items in the related Mortgage Files; provided, however, that the Seller of
a Subsequent Mortgage Loan reserves and retains all right, title and interest in
and to principal received and interest accruing on such Subsequent Mortgage Loan
prior to the related  Subsequent  Cut-Off Date.  Any transfer to the Issuer by a
Seller of Subsequent  Mortgage  Loans shall be absolute,  and is intended by the
Issuer  and  such  Seller  to  constitute  and to be  treated  as a sale of such
Subsequent  Mortgage  Loans by such Seller to the Issuer.  In the event that any
such transaction is deemed not to be a sale, GMACM and WG Trust hereby grants to
the Issuer as of each  Subsequent  Transfer  Date a security  interest in all of
GMACM's or WG Trust's, as applicable, right, title and interest in, to and under
all accounts, chattel papers, general intangibles, contract rights, certificates
of deposit, deposit accounts, instruments,  documents, letters of credit, money,
advices of credit,  investment property, goods and other property consisting of,
arising under or related to the related Subsequent Mortgage Loans and such other
property, to secure all of GMACM's or WG Trust's obligations hereunder, and this
Agreement  shall  constitute a security  agreement  under  applicable  law. Each
Seller  agrees to take or cause to be taken such  actions  and to  execute  such
documents,  including the filing of all  necessary  UCC-1  financing  statements
filed in the State of Delaware and the Commonwealth of Pennsylvania (which shall
be  submitted  for  filing as of the  related  Subsequent  Transfer  Date),  any
continuation statements with respect thereto and any amendments thereto required
to reflect a change in the name or  corporate  structure  of such  Seller or the
filing of any  additional  UCC-1  financing  statements due to the change in the
principal  office of such  Seller,  as are  necessary to perfect and protect the
interests of the Issuer and its assignees in each  Subsequent  Mortgage Loan and
the proceeds thereof.  The Servicer shall file any such continuation  statements
on a timely basis.

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<PAGE>

        The  Issuer on each  Subsequent  Transfer  Date  shall  acknowledge  its
acceptance of all right, title and interest to the related  Subsequent  Mortgage
Loans  and  other  property,  existing  on  the  Subsequent  Transfer  Date  and
thereafter created, conveyed to it pursuant to this Section 2.2.

        The Issuer  shall be entitled to all  scheduled  principal  payments due
after each  Subsequent  Cut-Off  Date,  all other  payments of principal due and
collected  after each  Subsequent  Cut-Off Date, and all payments of interest on
any related  Subsequent  Mortgage Loans, minus that portion of any such interest
payment that is allocable to the period prior to the related  Subsequent Cut-Off
Date and any  payment  relating to any  Excluded  Amounts as provided in Section
2.5. No scheduled  payments of principal due on Subsequent  Mortgage Loans on or
before the related  Subsequent  Cut-Off Date and collected after such Subsequent
Cut-Off Date shall belong to the Issuer pursuant to the terms of this Agreement.

(b) Either Seller may transfer to the Issuer  Subsequent  Mortgage Loans and the
other  property and rights  related  thereto  described in Section  2.2(a) above
during the Pre-Funding  Period,  and the Issuer shall cause to be released funds
from the Pre-Funding Account or during the Revolving Period, upon the release of
funds on deposit in the Custodial Account or the Funding Account,  respectively,
in accordance with the Servicing  Agreement,  only upon the satisfaction of each
of the following conditions on or prior to the related Subsequent Transfer Date:

(i) such  Seller or GMACM,  as  Servicer,  shall  have  provided  the  Indenture
Trustee,  the Rating  Agencies and the Enhancer  with a timely  Addition  Notice
substantially  in the form of Exhibit 3,  which  notice  shall be given no later
than seven  Business Days prior to the related  Subsequent  Transfer  Date,  and
shall  designate the  Subsequent  Mortgage  Loans to be sold to the Issuer,  the
aggregate  Principal Balance of such Subsequent Mortgage Loans as of the related
Subsequent  Cut-Off  Date,  the Loan  Group or Groups to which  such  Subsequent
Mortgage  Loans have been  assigned,  which shall be the Loan Group or Groups to
which the money on deposit in the Pre-Funding  Account relates or from which the
Collections  used to pay the Purchase  Price of such Mortgage Loans were derived
and any other information  reasonably  requested by the Indenture Trustee or the
Enhancer with respect to such Subsequent Mortgage Loans;

(ii) such Seller shall have delivered to the Indenture  Trustee and the Enhancer
a duly  executed  Subsequent  Transfer  Agreement  substantially  in the form of
Exhibit 2, (A)  confirming  the  satisfaction  of each  condition  precedent and
representations  specified in this Section  2.2(b) and in Section  2.2(c) and in
the related  Subsequent  Transfer  Agreement  and (B)  including a Mortgage Loan
Schedule listing the Subsequent Mortgage Loans;

(iii) as of each  Subsequent  Transfer  Date,  as  evidenced  by delivery to the
Indenture Trustee of the Subsequent Transfer Agreement in the form of Exhibit 2,
the respective Seller shall not be insolvent, made insolvent by such transfer or
aware of any pending insolvency;

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<PAGE>

(iv)  such  sale and  transfer  shall  not  result  in a  material  adverse  tax
consequence  to the Issuer or, due to any action or  inaction on the part of the
respective Seller to the Securityholders or the Enhancer;

(v)     the Revolving Period shall not have terminated; and

(vi) the Enhancer shall have approved the sale of the Subsequent  Mortgage Loans
(which  approval shall not be  unreasonably  withheld)  within five (5) Business
Days of receipt of the Mortgage Loan Schedule reflecting the Subsequent Mortgage
Loans;  provided,  that if the Enhancer  shall not have notified the  respective
Seller or GMACM  within five (5)  Business  Days that the  Enhancer  does not so
approve,  such sale of Subsequent Mortgage Loans shall be deemed approved by the
Enhancer.

        In addition,  GMACM shall have  delivered to the Issuer,  the  Indenture
Trustee  and the  Enhancer  an  Opinion  of  Counsel  with  respect  to  certain
bankruptcy matters relating to the transfers of Subsequent Mortgage Loans, which
Opinion of Counsel shall be  substantially in the form of the Opinion of Counsel
delivered to the Enhancer and the Rating  Agencies and the Indenture  Trustee on
the Closing Date regarding certain bankruptcy matters,  within 30 days after the
end  of  the  Pre-Funding  Period  relating  to all  Subsequent  Mortgage  Loans
transferred to the Trust during the Pre-Funding Period, and within 30 days after
the end of the  Revolving  Period,  relating to all  Subsequent  Mortgage  Loans
transferred  to the Trust during the  Revolving  Period,  other than  Subsequent
Mortgage Loans purchased from funds on deposit in the Pre-Funding Account.

        The  obligation of the Issuer to purchase a Subsequent  Mortgage Loan on
any Subsequent  Transfer Date is subject to the following  conditions:  (i) each
such Subsequent  Mortgage Loan must satisfy the  representations  and warranties
specified in the related Subsequent Transfer Agreement and this Agreement;  (ii)
neither Seller has selected such  Subsequent  Mortgage Loans in a manner that it
reasonably  believes  is  adverse to the  interests  of the  Noteholders  or the
Enhancer;  (iii) GMACM will deliver to the Enhancer  and the  Indenture  Trustee
certain  Opinions of Counsel  described in Section  2.2(b) and acceptable to the
Enhancer  and the  Indenture  Trustee  with  respect to the  conveyance  of such
Subsequent  Mortgage Loans; and (iv) as of the related  Subsequent  Cut-Off Date
each  Subsequent  Mortgage  Loan will satisfy the following  criteria:  (A) such
Subsequent Mortgage Loan may not be 30 or more days contractually  delinquent as
of the related Subsequent Cut-Off Date; (B) the original stated term to maturity
of such Subsequent Mortgage Loan will not exceed 360 months; (C) such Subsequent
Mortgage Loan must have an outstanding  Principal Balance of at least $1,000 and
not more than  $750,000  as of the related  Subsequent  Cut-Off  Date;  (D) such
Subsequent  Mortgage Loan will be underwritten  substantially in accordance with
the criteria set forth under  "Description of the Mortgage Loans -- Underwriting
Standards" in the Prospectus Supplement;  (E) such Subsequent Mortgage Loan must
have a CLTV at  origination  of no more than 100.00%;  (F) the remaining term to
stated  maturity  of such  Subsequent  Mortgage  Loan must be no later  than 360
months;  (G) such  Subsequent  Mortgage  Loan  shall not  provide  for  negative
amortization;  and (H) following the purchase of such Subsequent  Mortgage Loans
by the Issuer,  the  Mortgage  Loans  included  in the Trust  Estate must have a
weighted average  interest rate, a weighted  average  remaining term to maturity
and a weighted average CLTV at origination,  as of each Subsequent Cut-Off Date,
that does not vary materially from the Initial Mortgage Loans included initially
in the  Trust  Estate,  and the  percentage  of  Mortgage  Loans  (by  aggregate

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<PAGE>

principal  balance)  that are secured by second  liens on the related  Mortgaged
Properties  shall be no greater than the percentage of Initial  Mortgage  Loans.
Subsequent Mortgage Loans with characteristics materially varying from those set
forth above may be  purchased  by the Issuer and included in the Trust Estate if
they are  acceptable to the Enhancer,  in its reasonable  discretion;  provided,
however, that the addition of such Subsequent Mortgage Loans will not materially
affect the aggregate  characteristics of the Mortgage Loans in the Trust Estate.
Neither  Seller  shall  transfer  Subsequent  Mortgage  Loans with the intent to
mitigate losses on Mortgage Loans  previously  transferred.  Upon the end of the
Revolving  Period,  the Enhancer may increase the  Overcollateralization  Amount
pursuant to Section 2.2(d) herein.

(c) Within five Business Days after each Subsequent  Transfer Date,  GMACM shall
deliver to the Rating Agencies, the Indenture Trustee and the Enhancer a copy of
the updated Mortgage Loan Schedule  reflecting the Subsequent  Mortgage Loans in
electronic format.

(d) In the event that a mortgage  loan is not  acceptable  to the  Enhancer as a
Subsequent  Mortgage Loan pursuant to Section 2.2(b)(v) hereof, the Enhancer and
GMACM may mutually  agree to the transfer of such mortgage loan to the Issuer as
a Subsequent Mortgage Loan, subject to any increase in the Overcollateralization
Amount  that  may be  agreed  to by  GMACM  and  the  Enhancer  pursuant  to the
Indenture,  in which event GMACM shall  deliver to the Issuer and the  Indenture
Trustee, with a copy to the Enhancer,  an Officer's  Certificate  confirming the
agreement to the transfer of such  Subsequent  Mortgage Loan and  specifying the
amount of such increase in the  Overcollateralization  Amount,  which additional
Overcollateralization Amount may not be contributed by GMACM.

Section 2.3    Payment of Purchase Price.

(a) The sale of the Initial Mortgage Loans shall take place on the Closing Date,
subject to and  simultaneously  with the deposit of the Initial  Mortgage  Loans
into the Trust  Estate,  the deposit of the Original  Pre-Funded  Amount and the
Interest  Coverage  Amount  into the  Pre-Funding  Account  and the  Capitalized
Interest Account, respectively, and the issuance of the Securities. The purchase
price (the "Purchase  Price") for the GMACM Initial Mortgage Loans to be paid by
the  Purchaser  to  GMACM  on the  Closing  Date  shall  be an  amount  equal to
$110,065,790.85 in immediately  available funds,  together with the Certificates
and the  Variable  Funding  Notes,  in respect  of the  Cut-Off  Date  Principal
Balances thereof.  The Purchase Price for the WG Trust Initial Mortgage Loans to
be paid by the  Purchaser  to WG Trust on the  Closing  Date  shall be an amount
equal to  $136,673,763.52  in  immediately  available  funds,  in respect of the
Cut-Off  Date  Principal  Balances  thereof.  The  Purchase  Price  paid for any
Subsequent  Mortgage Loan by the Indenture  Trustee from funds on deposit in the
Pre-Funding  Account,  at the  direction  of the  Issuer,  shall be  one-hundred
percent (100%) of the  Subsequent  Cut-Off Date  Principal  Balance  thereof (as
identified  on the Mortgage  Loan  Schedule  attached to the related  Subsequent
Transfer  Agreement).  In  the  case  of  each  Additional  Balance  transferred
hereunder  created on or after the Cut-Off Date (or the Subsequent  Cut-Off Date
in the case of a Subsequent  Mortgage Loan) and prior to the commencement of the
Rapid  Amortization  Period,  the Purchase  Price thereof shall be the principal
amount of the related Draw under the related Loan  Agreement on the later of the
Closing  Date  (or  the  related  Subsequent  Transfer  Date  in the  case  of a
Subsequent  Mortgage  Loan)  and the  date of the  creation  of such  Additional
Balance.

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<PAGE>

(b) In consideration of the sale of the GMACM Initial Mortgage Loans by GMACM to
the  Purchaser  on the Closing  Date,  the  Purchaser  shall pay to GMACM on the
Closing Date by wire transfer of immediately  available  funds to a bank account
designated by GMACM,  the amount  specified above in paragraph (a) for the GMACM
Initial  Mortgage  Loans;  provided,  that such  payment may be on a net funding
basis if agreed by GMACM and the Purchaser.  In consideration of the sale of any
Subsequent  Mortgage Loan by GMACM to the Issuer,  the Issuer shall pay to GMACM
by wire transfer of immediately  available funds to a bank account designated by
GMACM, the amount specified above in paragraph (a) for each Subsequent  Mortgage
Loan.

(c) In  consideration  of the sale of the WG Trust Initial  Mortgage Loans by WG
Trust to the Purchaser on the Closing Date, the Purchaser  shall pay to WG Trust
on the Closing Date by wire transfer of  immediately  available  funds to a bank
account  designated by WG Trust, the amount specified above in paragraph (a) for
the WG Trust Initial Mortgage Loans; provided, that such payment may be on a net
funding basis if agreed by WG Trust and the Purchaser.  In  consideration of the
sale of any Subsequent Mortgage Loan by WG Trust to the Issuer, the Issuer shall
pay to WG  Trust  by wire  transfer  of  immediately  available  funds to a bank
account  designated by WG Trust, the amount specified above in paragraph (a) for
each Subsequent Mortgage Loan.

(d) With respect to each Additional Balance  transferred  hereunder with respect
to any Initial Mortgage Loan or Subsequent Mortgage Loan, the Issuer as assignee
of the  Purchaser  shall  pay or cause to be paid to GMACM or its  designee  the
Purchase  Price  specified  above  for  such  Additional  Balance  in one of the
following ways, as applicable: (i) a cash payment pursuant to Section 3.03(b) of
the  Servicing  Agreement  and Section  2.3(a)  hereof in an amount equal to the
related Draw, if then available from  Principal  Collections  during the related
Collection Period on the Mortgage Loans, or from funds on deposit in the Funding
Account, and (ii) to the extent aggregate Draws exceed Principal Collections and
the amount on deposit in the Funding  Account  for such  Collection  Period,  an
increase in the Variable  Funding  Balance of the Variable  Funding Notes of the
related Class or an issuance of new Variable  Funding  Notes,  as of the Payment
Date  corresponding to the Collection  Period in which such Additional  Balances
were created, equal to the amount of such excess.

Section 2.4  Variable  Funding  Notes on or after the Closing  Date.  Subject to
Section 4.01(d) of the Indenture, if at any time, GMACM or an Affiliate of GMACM
holds Variable  Funding Notes that have reached their Maximum  Variable  Funding
Balance,  and to the extent that the same are exchanged for Capped Funding Notes
in accordance with Section 4.01(d) of the Indenture, GMACM may cause such Capped
Funding Notes to be resold in a private offering pursuant to a private placement
memorandum.  Any  such  private  placement  memorandum  shall  not  include  any
information with respect to the Enhancer, except for information approved by the
Enhancer for use therein.

Section  2.5  Draws  During  Rapid   Amortization   Period.   During  the  Rapid
Amortization  Period,  any Draws made on the HELOCs (each, an "Excluded Amount")

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<PAGE>

shall not be  Additional  Balances,  and the  ownership of the related  balances
shall be retained by GMACM.  On any Payment  Date during the Rapid  Amortization
Period,  with  respect to the related  Collection  Period,  all  Collections  in
respect  of each HELOC  shall be  allocated  pro rata as between  the Issuer and
GMACM,  based on the  relative  proportions  of the  Principal  Balance  and the
Excluded  Amount  thereof,  respectively,  as of the end of the  calendar  month
immediately  prior to such  Collection  Period.  During  the Rapid  Amortization
Period,  any losses incurred with respect to a HELOC shall be allocated pro rata
between the Issuer and GMACM,  based on the  Principal  Balance and the Excluded
Amount  thereof,  respectively,  as of the date of  liquidation  of such  HELOC.
Notwithstanding  any  other  provision  hereof  or of the  Servicing  Agreement,
payments and collections  allocable to an Excluded Amount shall not be deposited
into the  Custodial  Account,  the  Distribution  Account  or the  Note  Payment
Account,  and shall be distributed  by the Servicer to GMACM no less  frequently
than monthly in accordance with reasonable instructions provided by the Seller.

                                  ARTICLE III

                         REPRESENTATIONS AND WARRANTIES;
                               REMEDIES FOR BREACH

Section 3.1 GMACM Representations and Warranties.  GMACM represents and warrants
to the Purchaser, as of the Closing Date and as of each Subsequent Transfer Date
(or if otherwise specified below, as of the date so specified):

(a)     As to GMACM:

(i) GMACM is a corporation duly organized, validly existing and in good standing
under the laws of the  jurisdiction  governing its creation and existence and is
or will be in  compliance  with the laws of each  state in which  any  Mortgaged
Property is located to the extent necessary to ensure the enforceability of each
Mortgage Loan;

(ii) GMACM has the power and authority to make, execute, deliver and perform its
obligations under this Agreement and each Subsequent Transfer Agreement to which
it is a party and all of the transactions  contemplated under this Agreement and
each such Subsequent Transfer  Agreement,  and has taken all necessary corporate
action to authorize the  execution,  delivery and  performance of this Agreement
and each such Subsequent Transfer Agreement;

(iii) GMACM is not  required  to obtain the  consent of any other  Person or any
consents,  licenses,  approvals or  authorizations  from,  or  registrations  or
declarations  with, any governmental  authority,  bureau or agency in connection
with the execution,  delivery,  performance,  validity or enforceability of this
Agreement  or any  Subsequent  Transfer  Agreement,  except  for such  consents,
licenses,  approvals or  authorizations,  or registrations  or declarations,  as
shall have been obtained or filed, as the case may be;

(iv) The execution and delivery of this  Agreement and any  Subsequent  Transfer
Agreement by GMACM and its  performance  and  compliance  with the terms of this
Agreement and each such Subsequent  Transfer  Agreement will not violate GMACM's
Certificate of  Incorporation  or Bylaws or constitute a material default (or an
event which,  with notice or lapse of time, or both, would constitute a material
default)  under,  or result in the material  breach of, any  material  contract,
agreement  or  other  instrument  to which  GMACM  is a party  or  which  may be
applicable to GMACM or any of its assets;

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<PAGE>

(v) No litigation  before any court,  tribunal or governmental body is currently
pending, or to the knowledge of GMACM threatened,  against GMACM or with respect
to this  Agreement or any Subsequent  Transfer  Agreement that in the opinion of
GMACM has a reasonable  likelihood of resulting in a material  adverse effect on
the  transactions  contemplated  by this  Agreement or any  Subsequent  Transfer
Agreement;

(vi)    Reserved;

(vii) This  Agreement and each  Subsequent  Transfer  Agreement to which it is a
party,  constitutes a legal, valid and binding obligation of GMACM,  enforceable
against  GMACM in accordance  with its terms,  except as  enforceability  may be
limited by  applicable  bankruptcy,  insolvency,  reorganization,  moratorium or
other  similar laws now or  hereafter in effect  affecting  the  enforcement  of
creditors' rights in general and except as such enforceability may be limited by
general  principles of equity  (whether  considered in a proceeding at law or in
equity) or by public  policy with respect to  indemnification  under  applicable
securities laws;

(viii)  This  Agreement  constitutes  a valid  transfer  and  assignment  to the
Purchaser of all right,  title and interest of GMACM in and to the GMACM Initial
Mortgage Loans,  including the Cut-Off Date Principal  Balances now existing and
all Additional  Balances thereafter arising to and including the day immediately
preceding the Rapid  Amortization  Period,  all monies due or to become due with
respect thereto,  and all proceeds of such Cut-Off Date Principal  Balances with
respect to the GMACM Initial  Mortgage Loans; and this Agreement and the related
Subsequent Transfer Agreement,  when executed,  will constitute a valid transfer
and assignment to the Issuer of all right, title and interest of GMACM in and to
the related  Subsequent  Mortgage  Loans,  including the Cut-Off Date  Principal
Balances  existing on the related  Subsequent  Cut-Off Date and  thereafter  all
Additional  Balances arising to and including the day immediately  preceding the
Rapid Amortization Period, all monies due or to become due with respect thereto,
and all proceeds of such  Subsequent  Cut-Off Date  Principal  Balances and such
funds as are from time to time deposited in the Custodial Account (excluding any
investment  earnings  thereon)  as assets  of the  Trust and all other  property
specified in the  definition of "Trust" as being part of the corpus of the Trust
conveyed to the Purchaser by GMACM, and upon payment for the Additional Balances
with respect to any of the Mortgage Loans,  will constitute a valid transfer and
assignment  to the  Purchaser  (or the  Issuer  in the  case  of any  Additional
Balances relating to Subsequent Mortgage Loans) of all right, title and interest
of GMACM in and to the Additional Balances, all monies due or to become due with
respect  thereto,  and all  proceeds of such  Additional  Balances and all other
property  specified  in the  definition  of "Trust"  relating to the  Additional
Balances; and

(ix) GMACM is not in default with respect to any order or decree of any court or
any order, regulation or demand of any federal, state, municipal or governmental
agency,  which  default  might  have  consequences  that  would  materially  and
adversely  affect the condition  (financial or otherwise) or operations of GMACM
or its properties or might have  consequences  that would  materially  adversely
affect its performance hereunder;

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<PAGE>

(b) As to each Initial Mortgage Loan (except as otherwise specified below) as of
the Closing  Date,  or with respect to each  Subsequent  Mortgage Loan as of the
related Subsequent Transfer Date (except as otherwise specified below):

(i) The information set forth in the Mortgage Loan Schedule with respect to each
Mortgage Loan or the Mortgage Loans is true and correct in all material respects
as of  the  date  or  dates  respecting  which  such  information  is  initially
furnished;

(ii) With respect to each of the WG Trust  Initial  Mortgage  Loans,  as of each
respective  Prior Transfer Date: (A) the related Loan Agreement and the Mortgage
had not been assigned or pledged,  except for any  assignment or pledge that had
been  satisfied and released,  (B)  immediately  prior to the assignment of such
Mortgage Loans to Walnut Grove, GMACM had good title thereto and (C) immediately
prior to such  assignment,  GMACM was the sole owner and holder of the  Mortgage
Loan free and clear of any and all liens,  encumbrances,  pledges,  or  security
interests  (other  than,  with  respect to any  Mortgage  Loan in a second  lien
position,  the lien of the related  first  mortgage)  of any nature and had full
right and  authority,  under  all  governmental  and  regulatory  bodies  having
jurisdiction  over the ownership of the  applicable  Mortgage  Loan, to sell and
assign the same pursuant to the Walnut Grove Purchase Agreement;

(iii) With respect to the GMACM  Initial  Mortgage  Loans:  (A) the related Loan
Agreement  and the Mortgage  have not been  assigned or pledged,  except for any
assignment or pledge that has been satisfied and released, (B) immediately prior
to the assignment of the Mortgage  Loans to the Purchaser,  GMACM has good title
thereto and (C) GMACM is the sole owner and holder of the Mortgage Loan free and
clear of any and all liens, encumbrances,  pledges, or security interests (other
than,  with respect to any Mortgage Loan in a second lien position,  the lien of
the  related  first  mortgage)  of any nature and has full right and  authority,
under all  governmental  and  regulatory  bodies  having  jurisdiction  over the
ownership of the applicable  Mortgage Loans to sell and assign the same pursuant
to this Agreement or the related Subsequent Transfer Agreement, as applicable;

(iv) To the best of  GMACM's  knowledge,  there is no valid  offset,  defense or
counterclaim of any obligor under any Loan Agreement or Mortgage;

(v) To the best of GMACM's knowledge,  there is no delinquent recording or other
tax or fee or assessment lien against any related Mortgaged Property;

(vi) To the  best of  GMACM's  knowledge,  there  is no  proceeding  pending  or
threatened  for the  total or  partial  condemnation  of the  related  Mortgaged
Property;

(vii) To the best of GMACM's knowledge, there are no mechanics' or similar liens
or claims  which  have been  filed for work,  labor or  material  affecting  the
related  Mortgaged  Property  which are,  or may be liens  prior or equal to, or
subordinate with, the lien of the related Mortgage, except liens which are fully
insured against by the title insurance policy referred to in clause (xi);

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<PAGE>

(viii) As of the Cut-Off Date or related  Subsequent  Cut-Off  Date, no Mortgage
Loan was 30 days or more delinquent in payment of principal or interest;

(ix) With respect to the GMACM Initial Mortgage Loans, the related Mortgage File
contains or will contain,  in accordance  with Section  2.1(e)(ii),  each of the
documents and instruments specified to be included therein;

(x) To the best of the GMACM's  knowledge,  the related Loan  Agreement  and the
related Mortgage at the time it was made complied in all material  respects with
applicable local, state and federal laws;

(xi) A title  search  or other  assurance  of title  customary  in the  relevant
jurisdiction was obtained with respect to each Mortgage Loan;

(xii)  None of the  Mortgaged  Properties  is a  mobile  home or a  manufactured
housing unit that is not permanently attached to its foundation;

(xiii) As of the Cut-Off Date, no more than  approximately  27.99% and 16.81% of
the Initial HELOCs, by Cut-Off Date Principal Balance,  are secured by Mortgaged
Properties  located in California and Michigan,  respectively,  and no more than
approximately  32.86% and 6.22% of the Initial HELs,  by Cut-Off Date  Principal
Balance, are secured by Mortgaged Properties located in California and New York.
No more than approximately  4.34% of the Initial HELOCs and approximately  2.74%
of the Initial HELs, by Cut-Off Date Principal Balance, are secured by Mortgaged
Properties located in planned unit developments;

(xiv)  As  of  the  Cut-Off  Date  or  Subsequent  Cut-Off  Date,  the  Combined
Loan-to-Value Ratio for each Mortgage Loan was not in excess of 105.57%;

(xv) GMACM has not transferred the GMACM Initial Mortgage Loans to the Purchaser
or any Subsequent Mortgage Loans to the Issuer with any intent to hinder,  delay
or defraud any of its creditors;

(xvi) As of the  Cut-Off  Date,  no more than  approximately  20% of the Initial
Mortgage  Loans,  by Cut-Off Date  Principal  Balance,  are secured by Mortgaged
Properties  which  may  have  been  appraised  using  the  statistical  property
evaluation method of Solimar.net;

(xvii) The minimum monthly payment with respect to any Mortgage Loan is not less
than the  interest  accrued at the  applicable  Loan Rate on the  average  daily
Principal  Balance during the interest period relating to the date on which such
minimum monthly payment is due;

(xviii) Within a loan type, and except as required by applicable  law, each Loan
Agreement  and  each  Mortgage  is an  enforceable  obligation  of  the  related
Mortgagor;

(xix) To the best  knowledge  of GMACM,  the physical  property  subject to each
Mortgage is free of material damage and is in acceptable repair;

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<PAGE>

(xx) GMACM has not  received a notice of  default  of any senior  mortgage  loan
related to a Mortgaged  Property  which has not been cured by a party other than
the Servicer;

(xxi) Each of the HELOCs has a  substantially  similar  definition  of the prime
rate as the Index applicable to the related Loan Rate;

(xxii)  None of the Mortgage Loans is a reverse mortgage loan;

(xxiii) No  Initial  HELOC has an  original  term to  maturity  in excess of 300
months.  Interest  rate  adjustments  for HELOCs  prior to the  Cut-Off  Date or
Subsequent  Cut-Off Date were made in compliance  with the related  Mortgage and
Loan  Agreement.  Over the term of any  HELOC,  the Loan Rate may not exceed the
related Maximum Loan Rate, if any;

(xxiv) As of the Cut-Off Date,  the Initial HELOCs have Maximum Loan Rates which
range  between  15.000% and 19.250%.  The current  Gross Margins for the Initial
HELOCs range between  -0.25% and 5.250%,  and the weighted  average Gross Margin
for the Initial HELOCs is approximately 1.398% as of the Cut-Off Date. As of the
Cut-Off  Date,  the Loan Rates on the Initial  HELOCs range  between  9.00% (not
including teaser rates) and 14.750% and on the Initial HELs range between 6.990%
and 14.125%,  and the weighted average Loan Rate is  approximately  10.898% (not
including teaser rates) for the Initial HELOCs and 10.934% for the Initial HELs.
The  weighted  average  remaining  term to  scheduled  maturity  of the  Initial
Mortgage  Loans on a contractual  basis as of the Cut-Off Date is  approximately
193 months for the Initial HELOCs and 209 months for the Initial HELs;

(xxv) (A) Each Mortgaged  Property  consists of a single parcel of real property
with a single family or two- to four-family  residence  erected  thereon,  or an
individual  condominium unit, planned unit development unit; (B) (1)With respect
to the  Initial  HELOCs (a)  approximately  10.14% (by  Cut-Off  Date  Principal
Balance) are secured by real property  improved by individual  condominium units
and  planned  development  units,  (b)  approximately  89.03% (by  Cut-Off  Date
Principal  Balance) are secured by real property with a single family  residence
erected thereon, (c) approximately 0.81% (by Cut-Off Date Principal Balance) are
secured by real property with a two- to four-family  residence  erected  thereon
and (d) 0.02% are secured by real property improved by manufactured  housing and
(2) With respect to the Initial HELs, (a)  approximately  6.09% (by Cut-Off Date
Principal   Balance)  are  secured  by  real  property  improved  by  individual
condominium units and planned  development  units, (b) approximately  91.16% (by
Cut-Off  Date  Principal  Balance)  are secured by real  property  with a single
family  residence  erected  thereon,  (c)  approximately  2.74% (by Cut-Off Date
Principal  Balance)  are  secured by real  property  with a two- to  four-family
residence  erected thereon and (d) none are secured by real property improved by
manufactured housing;

(xxvi) As of the Cut-Off Date, (A) the Credit Limits on the Initial HELOCs range
between  approximately  $6,700.00 and $900,000.00 with an average of $43,097.19,
and  (B)  no  Initial  Mortgage  Loan  had a  principal  balance  in  excess  of
$891,121.88;

(xxvii) No more than  approximately  92.26% of the Initial  Mortgage  Loans,  by
aggregate Principal Balance as of the Cut-Off Date, are secured by second liens;

                                        16

<PAGE>

(xxviii) A policy of hazard  insurance and flood insurance,  if applicable,  was
required  from the  Mortgagor  for the Mortgage  Loan when the Mortgage Loan was
originated;

(xxix)  Other  than with  respect  to a payment  default,  there is no  material
default,  breach, violation or event of acceleration existing under the terms of
any Loan Agreement or Mortgage and, to the best of GMACM's  knowledge,  no event
which, with notice and expiration of any grace or cure period,  would constitute
a material default,  breach,  violation or event of acceleration under the terms
of any  Loan  Agreement  or  Mortgage,  and no such  material  default,  breach,
violation  or event  of  acceleration  has been  waived  by  GMACM  involved  in
originating or servicing the related Mortgage Loan;

(xxx) To the best  knowledge of GMACM,  no  instrument  of release or waiver has
been executed in connection with the Mortgage  Loans,  and no Mortgagor has been
released, in whole or in part from its obligations in connection therewith;

(xxxi) With respect to each Mortgage  Loan secured by a second lien,  either (a)
no consent for such  Mortgage  Loan was required by the holder or holders of the
related  prior lien,  (b) such consent has been obtained and is contained in the
related  Mortgage  File or (c) no consent for such Mortgage Loan was required by
relevant law;

(xxxii)  With  respect  to  each  Mortgage  Loan,  to the  extent  permitted  by
applicable  law, the related  Mortgage  contains a customary  provision  for the
acceleration of the payment of the unpaid Principal Balance of the Mortgage Loan
in the event the related Mortgaged Property is sold without the prior consent of
the mortgagee thereunder; and

(xxxiii) GMACM used no selection  procedures that  identified  Mortgage Loans as
being less desirable or valuable than other comparable mortgage loans originated
or acquired by GMACM under the GMACM Home Equity Program. The Mortgage Loans are
representative  of the  GMACM's  portfolio  of fixed  rate and  adjustable  rate
mortgage loans that were originated under the GMACM Home Equity Program.

               With  respect to this  Section  3.1(b),  representations  made by
GMACM  with  respect  to the WG Trust  Initial  Mortgage  Loans,  made as of the
Cut-Off  Date or the Closing  Date or with  respect to the  Subsequent  Mortgage
Loans  sold by WG  Trust  and  made  as of the  Subsequent  Cut-Off  Date or the
Subsequent  Transfer  Date,  are  made by  GMACM in its  capacity  as  Servicer.
Representations  made by GMACM  with  respect to the WG Trust  Initial  Mortgage
Loans or the Subsequent Mortgage Loans sold by WG Trust and made as of any other
date, are made by GMACM in its capacity as Seller.

               (c) WG Trust  Representations  and Warranties WG Trust represents
and warrants to the Purchaser,  as of the Closing Date and as of each Subsequent
Transfer Date:

               (i)    As to WG Trust:

(i) WG Trust is a Delaware  business trust duly organized,  validly existing and
in good standing under the laws of the State of Delaware;

                                        17

(ii) WG Trust has the power and authority to make, execute,  deliver and perform
its obligations under this Agreement and each Subsequent  Transfer  Agreement to
which  it is a  party  and  all  of the  transactions  contemplated  under  this
Agreement  and each  such  Subsequent  Transfer  Agreement,  and has  taken  all
necessary  action to authorize the execution,  delivery and  performance of this
Agreement and each such Subsequent Transfer Agreement;

(iii) WG Trust is not  required to obtain the consent of any other Person or any
consents,  licenses,  approvals or  authorizations  from,  or  registrations  or
declarations  with, any governmental  authority,  bureau or agency in connection
with the execution,  delivery,  performance,  validity or enforceability of this
Agreement  or any  Subsequent  Transfer  Agreement,  except  for such  consents,
licenses,  approvals or  authorizations,  or registrations  or declarations,  as
shall have been obtained or filed, as the case may be;

(iv) The execution and delivery of this  Agreement and any  Subsequent  Transfer
Agreement by WG Trust and its  performance and compliance with the terms of this
Agreement  and each such  Subsequent  Transfer  Agreement  will not  violate  WG
Trust's  organizational  documents or constitute a material default (or an event
which,  with  notice or lapse of time,  or both,  would  constitute  a  material
default)  under,  or result in the material  breach of, any  material  contract,
agreement  or other  instrument  to  which  WG Trust is a party or which  may be
applicable to WG Trust or any of its assets;

(v) No litigation  before any court,  tribunal or governmental body is currently
pending,  or to the knowledge of WG Trust  threatened,  against WG Trust or with
respect to this  Agreement  or any  Subsequent  Transfer  Agreement  that in the
opinion  of WG Trust has a  reasonable  likelihood  of  resulting  in a material
adverse  effect  on the  transactions  contemplated  by  this  Agreement  or any
Subsequent Transfer Agreement;

(vi) This  Agreement  and each  Subsequent  Transfer  Agreement to which it is a
party constitutes a legal, valid and binding obligation of WG Trust, enforceable
against WG Trust in accordance with its terms,  except as enforceability  may be
limited by  applicable  bankruptcy,  insolvency,  reorganization,  moratorium or
other  similar laws now or  hereafter in effect  affecting  the  enforcement  of
creditors' rights in general and except as such enforceability may be limited by
general  principles of equity  (whether  considered in a proceeding at law or in
equity) or by public  policy with respect to  indemnification  under  applicable
securities laws;

(vii)  This  Agreement  constitutes  a  valid  transfer  and  assignment  to the
Purchaser  of all right,  title and  interest of WG Trust in and to the WG Trust
Initial  Mortgage  Loans,  including  the Cut-Off Date  Principal  Balances with
respect  to the  WG  Trust  Initial  Mortgage  Loans,  all  Additional  Balances
thereafter  arising,  all monies due or to become due with respect thereto,  and
all  proceeds of such  Cut-Off Date  Principal  Balances  with respect to the WG
Trust Initial  Mortgage  Loans;  and this  Agreement and the related  Subsequent
Transfer  Agreement,  when  executed,  will  constitute  a  valid  transfer  and
assignment to the Issuer of all right,  title and interest of WG Trust in and to
the related  Subsequent  Mortgage  Loans,  including the Cut-Off Date  Principal
Balances  existing on the related  Subsequent  Cut-Off  Date and all  Additional
Balances  thereafter  arising,  all  monies  due or to become  due with  respect
thereto,  and all  proceeds  thereof  and such  funds  as are from  time to time
deposited in the Custodial Account  (excluding any investment  earnings thereon)

                                        18

<PAGE>

as assets of the Trust and all other  property  specified in the  definition  of
"Trust" as being part of the corpus of the Trust conveyed to the Purchaser by WG
Trust; and

(viii) WG Trust is not in  default  with  respect  to any order or decree of any
court or any order,  regulation  or demand of any federal,  state,  municipal or
governmental agency, which default might have consequences that would materially
and adversely affect the condition  (financial or otherwise) or operations of WG
Trust or its  properties  or  might  have  consequences  that  would  materially
adversely affect its performance hereunder.

               (ii)   As to the WG Trust Initial Mortgage Loans:

(i) With respect to the WG Trust Initial  Mortgage  Loans:  (A) The related Loan
Agreement  and the Mortgage  have not been  assigned or pledged,  except for any
assignment or pledge that has been satisfied and released, (B) immediately prior
to the  assignment  of the Mortgage  Loans to the  Purchaser,  WG Trust had good
title thereto and (C) WG Trust is the sole owner and holder of the Mortgage Loan
free  and  clear  of any and  all  liens,  encumbrances,  pledges,  or  security
interests  (other  than,  with  respect to any  Mortgage  Loan in a second  lien
position,  the lien of the related  first  mortgage)  of any nature and has full
right and  authority,  under  all  governmental  and  regulatory  bodies  having
jurisdiction  over the ownership of the  applicable  Mortgage  Loans to sell and
assign the same pursuant to this Agreement;

(ii) For each WG Trust Initial Mortgage Loan, the related Mortgage File contains
or will contain,  in accordance with Section  2.1(e)(ii),  each of the documents
and instruments specified to be included therein;

(iii) WG Trust has not  transferred  the WG Trust Initial  Mortgage Loans to the
Purchaser with any intent to hinder, delay or defraud any of its creditors; and

(iv) No  instrument  of  release  or  waiver  has been  executed  by WG Trust in
connection with the WG Trust Initial  Mortgage Loans,  and no Mortgagor has been
released by WG Trust,  in whole or in part,  from its  obligations in connection
therewith.

        (d) Upon  discovery by either Seller or upon notice from the  Purchaser,
the  Enhancer,  the Issuer,  the Owner  Trustee,  the  Indenture  Trustee or the
Custodian,   as   applicable,   of  a  breach   of  such   Seller's   respective
representations  or warranties in paragraphs (a) or (c)(i) above that materially
and adversely affects the interests of the  Securityholders or the Enhancer,  as
applicable,  in any Mortgage  Loan,  GMACM or WG Trust,  as  applicable,  shall,
within 90 days of its discovery or its receipt of notice of such breach,  either
(i) cure such  breach in all  material  respects or (ii) to the extent that such
breach is with  respect to a  Mortgage  Loan or a Related  Document,  either (A)
repurchase  such Mortgage Loan from the Issuer at the Repurchase  Price,  or (B)
substitute one or more Eligible Substitute Loans for such Mortgage Loan, in each
case in the  manner and  subject to the  conditions  and  limitations  set forth
below.

        Upon discovery by either Seller or upon notice from the  Purchaser,  the
Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or the Custodian,
as  applicable,  of a breach of a  Seller's  representations  or  warranties  in
paragraphs (b) or (c)(ii) above,  with respect to any Mortgage Loan, or upon the
occurrence of a Repurchase  Event,  that  materially  and adversely  affects the
interests of the Securityholders, the Enhancer or the Purchaser in such Mortgage

                                        19

<PAGE>

or GMACM,  if it discovers the same),  notwithstanding  such Seller's or GMACM's
lack of knowledge  with  respect to the  substance  of such  representation  and
warranty,  such Seller or GMACM, as the case may be, shall, within 90 days after
the  earlier of its  discovery  or receipt of notice  thereof,  either cure such
breach or  Repurchase  Event in all material  respects or either (i)  repurchase
such Mortgage Loan from the Issuer at the Repurchase  Price,  or (ii) substitute
one or more Eligible  Substitute  Loans for such Mortgage  Loan, in each case in
the manner and subject to the conditions set forth below.  The Repurchase  Price
for any such  Mortgage  Loan  repurchased  by such Seller  shall be deposited or
caused to be deposited by the Servicer into the Custodial Account.  Any purchase
of a Mortgage Loan due to a Repurchase Event shall be the obligation of GMACM.

        In the event  that  either  Seller  elects  to  substitute  an  Eligible
Substitute  Loan or Loans for a Deleted Loan  pursuant to this Section 3.1, such
Seller shall deliver to the  Custodian on behalf of the Issuer,  with respect to
such Eligible  Substitute  Loan or Loans,  the original  Loan  Agreement and all
other documents and agreements as are required by Section 2.1(e),  with the Loan
Agreement  endorsed as required by Section 2.1(e).  No substitution will be made
in any  calendar  month after the  Determination  Date for such  month.  Minimum
Monthly  Payments due with respect to Eligible  Substitute Loans in the month of
substitution  shall not be part of the Trust  Estate and will be retained by the
Servicer  and  remitted by the  Servicer  to such Seller on the next  succeeding
Payment Date,  provided that a payment at least equal to the applicable  Minimum
Monthly  Payment for such month in respect of the Deleted Loan has been received
by the Issuer. For the month of substitution,  distributions to the Note Payment
Account  pursuant to the Servicing  Agreement  will include the Minimum  Monthly
Payment due on a Deleted Loan for such month and thereafter such Seller shall be
entitled to retain all amounts  received in respect of such  Deleted  Loan.  The
Servicer  shall  amend or cause to be amended  the  Mortgage  Loan  Schedule  to
reflect the removal of such  Deleted Loan and the  substitution  of the Eligible
Substitute  Loan or Loans and the Servicer  shall  deliver the amended  Mortgage
Loan Schedule to the Owner Trustee, the Indenture Trustee and the Enhancer. Upon
such substitution, the Eligible Substitute Loan or Loans shall be subject to the
terms of this Agreement and the Servicing Agreement in all respects, GMACM shall
be deemed to have made the  representations  and warranties  with respect to the
Eligible  Substitute  Loan  contained  herein set forth in Section 3.1(b) (other
than clauses (xiii),  (xiv),  (xxiv),  (xxv) and (xxvii)  thereof),  and, if the
Seller is WG Trust,  WG Trust  shall be deemed to have made the  representations
and warranties set forth in Section 3.1(c)(ii),  in each case, as of the date of
substitution,   and  the  related   Seller  shall  be  deemed  to  have  made  a
representation  and  warranty  that  each  Mortgage  Loan so  substituted  is an
Eligible  Substitute  Loan as of the date of  substitution.  In addition,  GMACM
shall be obligated to repurchase or substitute for any Eligible  Substitute Loan
as to which a Repurchase  Event has occurred as provided  herein.  In connection
with the  substitution of one or more Eligible  Substitute Loans for one or more
Deleted  Loans,  the  Servicer  shall  determine  the  amount  (such  amount,  a
"Substitution  Adjustment  Amount"),  if any, by which the  aggregate  principal
balance of all such Eligible  Substitute Loans as of the date of substitution is
less than the  aggregate  principal  balance of all such  Deleted  Loans  (after
application of the principal  portion of the Minimum Monthly Payments due in the
month of substitution  that are to be distributed to the Note Payment Account in
the  month of  substitution).  Such  Seller  shall  deposit  the  amount of such
shortfall into the Custodial  Account on the date of  substitution,  without any
reimbursement therefor.

                                        20

<PAGE>

        Upon  receipt by the  Indenture  Trustee on behalf of the Issuer and the
Custodian of written notification, signed by a Servicing Officer, of the deposit
of such Repurchase Price or of such substitution of an Eligible  Substitute Loan
(together with the complete related Mortgage File) and deposit of any applicable
Substitution  Adjustment  Amount as provided above, the Custodian,  on behalf of
the Indenture  Trustee,  shall release to such Seller or GMACM,  as the case may
be,  the  related  Mortgage  File for the  Mortgage  Loan being  repurchased  or
substituted for and the Indenture  Trustee on behalf of the Issuer shall execute
and deliver such instruments of transfer or assignment prepared by the Servicer,
in each case without  recourse,  as shall be necessary to vest in such Seller or
GMACM,  as the  case may be,  or its  respective  designee  such  Mortgage  Loan
released pursuant hereto and thereafter such Mortgage Loan shall not be an asset
of the Issuer.

        It is understood and agreed that the obligation of each Seller and GMACM
to cure any breach,  or to repurchase or substitute  for any Mortgage Loan as to
which such a breach has occurred and is  continuing,  shall  constitute the sole
remedy  respecting  such breach  available  to the  Purchaser,  the Issuer,  the
Certificateholders  (or the Owner  Trustee on behalf of the  Certificateholders)
and the  Noteholders  (or the  Indenture  Trustee on behalf of the  Noteholders)
against such Seller and GMACM.

        It is understood and agreed that the  representations and warranties set
forth in this  Section 3.1 shall  survive  delivery of the  respective  Mortgage
Files to the Issuer or the Custodian.

                                   ARTICLE IV

                               SELLERS' COVENANTS

Section 4.1 Covenants of the Sellers.  Each Seller hereby covenants that, except
for the transfer  hereunder  and as of any  Subsequent  Transfer  Date,  neither
Seller will sell,  pledge,  assign or transfer  to any other  Person,  or grant,
create,  incur or assume any Lien on any Mortgage Loan, or any interest therein,
except with respect to any Excluded Amount.  Each Seller shall notify the Issuer
(in the case of the Initial  Mortgage Loans,  as assignee of the Purchaser),  of
the  existence of any Lien (other than as provided  above) on any Mortgage  Loan
immediately  upon  discovery  thereof;  and each Seller  shall defend the right,
title and interest of the Issuer (in the case of the Initial  Mortgage Loans, as
assignee  of the  Purchaser)  in, to and under the  Mortgage  Loans  against all
claims  of third  parties  claiming  through  or under  such  Seller;  provided,
however,  that nothing in this Section 4.1 shall be deemed to apply to any Liens
for municipal or other local taxes and other governmental  charges if such taxes
or  governmental  charges  shall not at the time be due and payable or if either
Seller shall  currently  be  contesting  the  validity  thereof in good faith by
appropriate Proceedings.

                                        21

<PAGE>

                                   ARTICLE V

                                    SERVICING

Section 5.1  Servicing.  GMACM shall service the Mortgage  Loans pursuant to the
terms and conditions of the Servicing  Agreement and the Program Guide and shall
service the  Mortgage  Loans  directly or through one or more  sub-servicers  in
accordance therewith.

                                   ARTICLE VI

                         INDEMNIFICATION BY THE SELLERS
                       WITH RESPECT TO THE MORTGAGE LOANS

Section 6.1  Limitation  on  Liability of the  Sellers.  None of the  directors,
officers,  employees  or agents of either  GMACM or WG Trust  shall be under any
liability to the Purchaser or the Issuer, it being expressly understood that all
such  liability  is  expressly  waived and  released as a  condition  of, and as
consideration  for, the execution of this Agreement and any Subsequent  Transfer
Agreement.  Except as and to the  extent  expressly  provided  in the  Servicing
Agreement,  GMACM and WG Trust shall not be under any  liability  to the Issuer,
the Owner Trustee, the Indenture Trustee or the Securityholders. GMACM, WG Trust
and any director,  officer,  employee or agent of GMACM or WG Trust, may rely in
good  faith on any  document  of any kind  prima  facie  properly  executed  and
submitted by any Person respecting any matters arising hereunder.

Section 6.2  Indemnification  with  Respect to the Mortgage  Loans.  The Sellers
shall  indemnify and hold harmless the Purchaser and the Issuer (with respect to
the Initial  Mortgage  Loans, as assignee of the Purchaser) from and against any
loss,  liability  or expense  arising  from any  breach by either  Seller of its
representations  and warranties in Section 3.1 of this Agreement that materially
and adversely  affects the Purchaser's  interest in any Initial Mortgage Loan or
the Issuer's  interest in any Mortgage Loan or from the failure by either Seller
to perform its  obligations  under this  Agreement  or any  Subsequent  Transfer
Agreement  in any  material  respect;  provided,  that  neither  Seller shall an
obligation  to  indemnify  the  Purchaser  in respect of any loss,  liability or
expense  that arises as a result of the  Purchaser's  willful  malfeasance,  bad
faith or  negligence  or as a  result  of the  breach  by the  Purchaser  of its
obligations hereunder;  nor shall either Seller have any obligation to indemnify
the Issuer in respect of any loss,  liability or expense that arises as a result
of the Issuer's willful malfeasance, bad faith or negligence.

                                  ARTICLE VII

                                   TERMINATION

Section 7.1  Termination.  The obligations and  responsibilities  of the parties
hereto shall terminate upon the termination of the Trust Agreement.

                                        22

<PAGE>

                                  ARTICLE VIII

                            MISCELLANEOUS PROVISIONS

Section 8.1  Amendment.  This  Agreement may be amended from time to time by the
parties  hereto by  written  agreement  with the prior  written  consent  of the
Enhancer (which consent shall not be unreasonably withheld).

Section 8.2 GOVERNING LAW. THIS AGREEMENT  SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE  WITH THE LAWS OF THE STATE OF NEW YORK AND THE  OBLIGATIONS,  RIGHTS
AND REMEDIES OF THE PARTIES  HEREUNDER  SHALL BE DETERMINED  IN ACCORDANCE  WITH
SUCH LAWS.

Section 8.3 Notices. All demands,  notices and communications hereunder shall be
in writing and shall be deemed to have been duly given if  personally  delivered
at or mailed by registered mail, postage prepaid, addressed as follows:

(i)     if to the GMACM:

                          GMAC Mortgage Corporation
                          100 Witmer Road
                          Horsham, Pennsylvania  10944
                  Attention: Barry Bier, Senior Vice President
                   Re: GMACM Home Equity Loan Trust 2000-HE4;

(ii)    if to WG Trust:

                       Walnut Grove Home Equity Loan Trust
                              2000-A
                          c/o Wilmington Trust Company
                          1100 North Market Street
                          Wilmington, Delaware 19890
                    Attention: Walnut Grove Home Equity Loan
                                Trust 2000-A
                    Re:GMACM Home Equity Loan Trust 2000-HE4;

(iii)   if to the Purchaser:

                    Residential Asset Mortgage Products, Inc.
                          8400 Normandale Lake Boulevard
                          Minneapolis, Minnesota 55437
                          Attention:President
                   Re: GMACM Home Equity Loan Trust 2000-HE4;

                                        23

<PAGE>

(iv)    if to the Indenture Trustee:

                          Wells Fargo Bank Minnesota, N.A.
                          11000 Broken Land Parkway
                          Columbia, Maryland 21044
                          Attention:  GMACM Home Equity Loan Trust 2000-HE4;

(v)     if to the Issuer:

                          c/o Wilmington Trust Company, as Owner Trustee
                          Rodney Square North
                          1100 North Market Street
                          Wilmington, Delaware 19890-0001
                          Re:  GMACM Home Equity Loan Trust 2000-HE4; or

(vi)    if to the Enhancer:

                    MBIA Insurance Corporation
                    113 King Street
                    Armonk, New York 10504
                    Attention:Insured Portfolio Management - Structured Finance
                   Re: GMACM Home Equity Loan Trust 2000-HE4;

or, with respect to any of the foregoing  Persons,  at such other address as may
hereafter be furnished to the other foregoing Persons in writing.

Section 8.4  Severability  of  Provisions.  If any one or more of the covenants,
agreements,  provisions or terms of this Agreement shall be held invalid for any
reason whatsoever, then such covenants, agreements, provisions or terms shall be
deemed severable from the remaining covenants,  agreements,  provisions or terms
of this Agreement and shall in no way affect the validity of  enforceability  of
the other provisions of this Agreement.

Section 8.5 Relationship of Parties. Nothing herein contained shall be deemed or
construed to create a partnership or joint venture among the parties hereto, and
the services of the GMACM shall be rendered as an independent contractor and not
as agent for the Purchaser.

Section  8.6  Counterparts.  This  Agreement  may be  executed  in any number of
counterparts, each of which, when so executed, shall be deemed to be an original
and such counterparts, together, shall constitute one and the same agreement.

Section 8.7  Further  Agreements.  The parties  hereto each agree to execute and
deliver to the other such additional documents, instruments or agreements as may
be necessary or appropriate to effectuate the purposes of this Agreement.

Section 8.8 Intention of the Parties.  It is the intention of the parties hereto
that the Purchaser  will be purchasing on the Closing Date, and the Sellers will
be selling on the Closing  Date,  the Initial  Mortgage  Loans,  rather than the
Purchaser  providing a loan to the Sellers secured by the Initial Mortgage Loans
on the Closing Date;  and that the Issuer will be purchasing on each  Subsequent
Transfer Date, and the Sellers will be selling on each Subsequent Transfer Date,

                                        24

<PAGE>

the related Subsequent  Mortgage Loans,  rather than the Issuer providing a loan
to the  Sellers  secured  by the  related  Subsequent  Mortgage  Loans  on  each
Subsequent Transfer Date.  Accordingly,  the parties hereto each intend to treat
this  transaction  for federal income tax purposes as (i) a sale by the Sellers,
and a purchase by the  Purchaser,  of the Initial  Mortgage Loans on the Closing
Date  and (ii) a sale by the  Sellers,  and a  purchase  by the  Issuer,  of the
related  Subsequent  Mortgage  Loans  on  each  Subsequent  Transfer  Date.  The
Purchaser and the Issuer shall each have the right to review the Mortgage  Loans
and the Related Documents to determine the characteristics of the Mortgage Loans
which will affect the federal  income tax  consequences  of owning the  Mortgage
Loans, and each Seller shall cooperate with all reasonable  requests made by the
Purchaser or the Issuer in the course of such review.

Section 8.9    Successors and Assigns; Assignment of this Agreement.

(a) This Agreement  shall bind and inure to the benefit of and be enforceable by
the parties hereto and their respective  permitted  successors and assigns.  The
obligations of each Seller under this Agreement  cannot be assigned or delegated
to a third party without the consent of the Enhancer and the Purchaser  (and the
Issuer with respect to the transfer of any  Subsequent  Mortgage  Loans),  which
consent  shall be at the  Purchaser's  sole  discretion  (and the Issuer's  sole
discretion  with  respect to the  transfer of any  Subsequent  Mortgage  Loans);
provided, that each Seller may assign its obligations hereunder to any Affiliate
of such Seller,  to any Person succeeding to the business of such Seller, to any
Person  into which such  Seller is merged and to any Person  resulting  from any
merger, conversion or consolidation to which such Seller is a party. The parties
hereto  acknowledge  that (i) the  Purchaser is acquiring  the Initial  Mortgage
Loans for the purpose of  contributing  them to the GMACM Home Equity Loan Trust
2000-HE4 and (ii) the Issuer is acquiring the Subsequent  Mortgage Loans for the
purpose of pledging the Subsequent  Mortgage Loans to the Indenture  Trustee for
the benefit of the Noteholders and the Enhancer.

(b) As an  inducement  to the  Purchaser  and the Issuer to purchase the Initial
Mortgage Loans and to the Issuer to purchase any Subsequent Mortgage Loans, each
Seller  acknowledges  and consents to (i) the assignment by the Purchaser to the
Issuer of all of the  Purchaser's  rights  against each Seller  pursuant to this
Agreement   insofar  as  such  rights  relate  to  the  Initial  Mortgage  Loans
transferred  to the Issuer and to the  enforcement  or  exercise of any right or
remedy against either Seller pursuant to this Agreement by the Issuer,  (ii) the
enforcement or exercise of any right or remedy against either Seller pursuant to
this  Agreement by or on behalf of the Issuer and (iii) the  Issuer's  pledge of
its interest in this Agreement to the Indenture  Trustee and the  enforcement by
the  Indenture  Trustee  of any  such  right or  remedy  against  either  Seller
following an Event of Default under the Indenture.  Such  enforcement of a right
or remedy by the  Issuer,  the Owner  Trustee,  the  Enhancer  or the  Indenture
Trustee, as applicable,  shall have the same force and effect as if the right or
remedy had been enforced or exercised by the Purchaser or the Issuer directly.

Section 8.10 Survival.  The  representations  and warranties made herein by each
Seller and the provisions of Article VI hereof shall survive the purchase of the
Initial  Mortgage Loans hereunder and any transfer of Subsequent  Mortgage Loans
pursuant to this Agreement and the related Subsequent Transfer Agreement.

                                        25

<PAGE>

Section  8.11 Third  Party  Beneficiary.  The  Enhancer  shall be a third  party
beneficiary  hereof and shall be  entitled  to enforce  the  provisions  of this
Agreement as if a party hereto.

                                        26

<PAGE>

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

                           RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as
                   Purchaser

                           By:      /s/ Patricia C. Taylor
                               Name:  Patricia C. Taylor
                               Title:    Vice President

                           GMAC MORTGAGE CORPORATION,
                              as Seller and Servicer

                           By:      /s/ Thomas J. O'Hara
                               Name:  Thomas J. O'Hara
                               Title:    Vice President

                           WALNUT GROVE HOME EQUITY LOAN TRUST 2000-A, as
                    Seller

                           By: WILMINGTON TRUST COMPANY,
                                       not in its individual capacity but
                   solely as
                                       Owner Trustee

                           By:      /s/ Donald G. MacKelcan
                               Name:  Donald G. MacKelcan
                               Title:    Vice President

                                        27

<PAGE>

                           GMACM HOME EQUITY LOAN TRUST 2000-HE4, as Issuer

                           By: WILMINGTON TRUST COMPANY,
                                  not in its individual capacity but solely
                                  as
                                  Owner Trustee

                           By:      /s/ Donald G. MacKelcan
                               Name:  Donald G. MacKelcan
                               Title:    Vice President

                           WELLS FARGO BANK MINNESOTA, N.A., as Indenture
                    Trustee

                           By:      /s/ Peter A. Gobell
                               Name:  Peter A. Gobell
                               Title:    Assistant Vice President

                                        28

<PAGE>

2-1

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

<PAGE>

                                    EXHIBIT 2

                      FORM OF SUBSEQUENT TRANSFER AGREEMENT

     Pursuant to this Subsequent  Transfer  Agreement No.____ (the "Agreement"),
dated as of______,_____ between [_________], as seller (the "Seller"), and GMACM
Home Equity Loan Trust 2000-HE4,  as issuer (the "Issuer"),  and pursuant to the
mortgage loan purchase  agreement  dated as of November 29, 2000 (the  "Mortgage
Loan  Purchase  Agreement"),  among GMAC Mortgage  Corporation,  as a seller and
servicer,  Walnut Grove Home Equity Loan Trust 2000-A, as a seller,  Residential
Asset Mortgage Products,  Inc., as purchaser (the  "Purchaser"),  the Issuer and
Wells  Fargo  Bank  Minnesota,   N.A.,  as  indenture  trustee  (the  "Indenture
Trustee"),  the Seller  and the  Issuer  agree to the sale by the Seller and the
purchase by the Issuer of the mortgage loans listed on the attached  Schedule of
Subsequent Mortgage Loans (the "Subsequent Mortgage Loans").

        Capitalized  terms used and not  defined  herein  have their  respective
meanings as set forth in Appendix A to the  indenture  dated as of November  29,
2000,  between  the  Issuer  and  the  Indenture  Trustee,  which  meanings  are
incorporated by reference herein.  All other capitalized terms used herein shall
have the meanings specified herein.

        Section 1.    Sale of Subsequent Mortgage Loans.

        (a) The Seller does hereby sell,  transfer,  assign, set over and convey
to the Issuer,  without recourse, all of its right, title and interest in and to
the Subsequent  Mortgage Loans (including the Subsequent  Cut-Off Date Principal
Balance now  existing  and all  Additional  Balances  thereafter  arising to and
including  the  date  immediately   preceding  the  commencement  of  the  Rapid
Amortization  Period),  all principal received and interest thereon on and after
the  Subsequent  Cut-Off  Date,  all monies due or to become due thereon and all
items with respect to the Subsequent  Mortgage Loans to be delivered pursuant to
Section 2.2 of the Mortgage Loan Purchase Agreement; provided, however, that the
Seller  reserves  and retains all right,  title and interest in and to principal
received and interest  accruing on the  Subsequent  Mortgage  Loans prior to the
Subsequent Cut-Off Date. The Seller, contemporaneously with the delivery of this
Agreement, has delivered or caused to be delivered to the Indenture Trustee each
item set forth in Section 2.2 of the Mortgage Loan Purchase Agreement.

        The  transfer  to the  Issuer by the Seller of the  Subsequent  Mortgage
Loans identified on the Mortgage Loan Schedule shall be absolute and is intended
by the parties  hereto to  constitute  a sale by the Seller to the Issuer on the
Subsequent Transfer Date of all the Seller's right, title and interest in and to
the Subsequent Mortgage Loans, and other property as and to the extent described
above,  and the  Issuer  hereby  acknowledges  such  transfer.  In the event the
transactions  set forth  herein  shall be deemed  not to be a sale,  the  Seller
hereby  grants  to the  Issuer as of the  Subsequent  Transfer  Date a  security
interest in all of the Seller's  right,  title and interest in, to and under all
accounts, chattel papers, general intangibles,  contract rights, certificates of
deposit,  deposit accounts,  instruments,  documents,  letters of credit, money,
advices of credit,  investment property, goods and other property consisting of,
arising  under or  related  to the  Subsequent  Mortgage  Loans,  and such other
property,  to  secure  all of  the  Issuer's  obligations  hereunder,  and  this
Agreement shall constitute a security agreement under applicable law. The Seller
agrees to take or cause to be taken such actions and to execute such  documents,
including  without  limitation  the  filing  of all  necessary  UCC-1  financing
statements  filed in the State of Delaware and the  Commonwealth of Pennsylvania

                                        1

<PAGE>

(which shall be submitted for filing as of the Subsequent  Transfer  Date),  any
continuation statements with respect thereto and any amendments thereto required
to  reflect a change in the name or  corporate  structure  of the  Seller or the
filing of any  additional  UCC-1  financing  statements due to the change in the
principal  office of the  Seller,  as are  necessary  to perfect and protect the
Issuer's interests in each Subsequent Mortgage Loan and the proceeds thereof.

        (b) The  expenses and costs  relating to the delivery of the  Subsequent
Mortgage Loans, this Agreement and the Mortgage Loan Purchase Agreement shall be
borne by the Seller.

       (c)    Additional terms of the sale are set forth on Attachment A hereto.

        Section 2.    Representations and Warranties; Conditions Precedent.

        (a) The Seller hereby affirms the representations and warranties made by
it and set forth in Section 3.1 of the Mortgage  Loan  Purchase  Agreement  that
relate to the Seller or the Subsequent Mortgage Loans as of the date hereof. The
Seller hereby  confirms that each of the  conditions set forth in Section 2.2(b)
of the Mortgage Loan Purchase  Agreement are satisfied as of the date hereof and
further represents and warrants that each Subsequent Mortgage Loan complies with
the  requirements  of this  Agreement  and Section  2.2(c) of the Mortgage  Loan
Purchase  Agreement.  GMACM, as Servicer of the Subsequent Mortgage Loans hereby
affirms the  representations  and warranties made by it regarding the Subsequent
Mortgage  Loans as set  forth  in  Section  3.1 of the  Mortgage  Loan  Purchase
Agreement.

        (b) The Seller is  solvent,  is able to pay its debts as they become due
and has  capital  sufficient  to  carry  on its  business  and  its  obligations
hereunder;  it will not be rendered  insolvent by the  execution and delivery of
this  Instrument or by the  performance of its  obligations  hereunder nor is it
aware  of  any  pending  insolvency;  no  petition  of  bankruptcy  (or  similar
insolvency proceeding) has been filed by or against the Seller prior to the date
hereof.

        (c) All terms and  conditions of the Mortgage  Loan  Purchase  Agreement
relating to the  Subsequent  Mortgage  Loans are hereby  ratified and confirmed;
provided,  however,  that in the event of any  conflict the  provisions  of this
Agreement  shall  control over the  conflicting  provisions of the Mortgage Loan
Purchase Agreement.

        Section  3.  Recordation  of  Instrument.  To the  extent  permitted  by
applicable law or a memorandum  thereof if permitted under  applicable law, this
Agreement is subject to recordation in all  appropriate  public offices for real
property  records in all of the counties or other  comparable  jurisdictions  in
which  any or all  of the  properties  subject  to  the  related  Mortgages  are
situated,  and in any other  appropriate  public  recording office or elsewhere,
such recordation to be effected by the Servicer at the  Noteholders'  expense on
direction of the Majority Noteholders or the Enhancer, but only when accompanied
by an Opinion of Counsel to the  effect  that such  recordation  materially  and
beneficially  affects the  interests  of the  Noteholders  or the Enhancer or is
necessary for the administration or servicing of the Subsequent Mortgage Loans.

<PAGE>

        Section  4.  GOVERNING  LAW.  THIS  INSTRUMENT  SHALL  BE  CONSTRUED  IN
ACCORDANCE  WITH THE LAWS OF THE STATE OF NEW YORK AND THE  OBLIGATIONS,  RIGHTS
AND REMEDIES OF THE PARTIES  HEREUNDER  SHALL BE DETERMINED  IN ACCORDANCE  WITH
SUCH LAWS.

     Section 5.  Counterparts.  This Instrument may be executed in counterparts,
each of which, when so executed,  shall be deemed to be an original and together
shall constitute one and the same instrument.

     Section 6.  Successors  and  Assigns.  This  Agreement  shall  inure to the
benefit  of and be binding  upon the Seller and the Issuer and their  respective
successors and assigns.

                       [----------------------------------],
                          as Seller

                       By:
                           Name:
                           Title:

                       GMACM HOME EQUITY LOAN TRUST 2000-HE4, as Issuer

                       By: WILMINGTON TRUST COMPANY,
                              not in its individual capacity but solely
                              as
                              Owner Trustee

                       By:
                           Name:
                           Title:

                       GMAC MORTGAGE CORPORATION,
                          as Servicer

                       By:
                           Name:
                           Title:

<PAGE>

                                   Attachments

A.      Additional terms of sale.
B.      Schedule of Subsequent Mortgage Loans.
C.      Seller's Officer's Certificate.
D.      Seller's Officer's Certificate (confirmation of Enhancer approval).

<PAGE>

                            GMACM HOME EQUITY LOAN TRUST 2000-HE4

                    ATTACHMENT A TO FORM OF SUBSEQUENT TRANSFER AGREEMENT

                                      ------------, ----
<TABLE>
<CAPTION>

A.
      1.   Subsequent Cut-Off Date:
      2.   Pricing Date:
      3.   Subsequent Transfer Date:
      4.   Aggregate Principal Balance of the Subsequent Mortgage Loans as
           of the Subsequent Cut-Off Date:
      5.   Purchase Price:                                                   100.00%
B.
As to all Subsequent Mortgage Loans:
<S>   <C>                                                                     <C>
      1.   Longest stated term to maturity:                                             months
                                                                             ----------
      2.   Minimum Loan Rate:                                                           %
                                                                             ----------
      3.   Maximum Loan Rate:                                                           %
                                                                             ----------
      4.   WAC of all Subsequent Mortgage Loans:                                        %
                                                                             ----------
      5.   WAM of all Subsequent Mortgage Loans:                                        %
                                                                             ----------
      6.   Largest Principal Balance:                                        $
      7.   Non-owner occupied Mortgaged Properties:                                     %
                                                                             ----------
      8.   California zip code concentrations:                                   % and      %
                                                                             ----      ----
      9.   Condominiums:                                                                %
                                                                             ----------
      10.  Single-family:                                                               %
                                                                             ----------
      11.  Weighted average term since origination:                                    %
                                                                             ----------
      12.  Principal balance of Subsequent Mortgage Loans with respect to    $
           which the Mortgagor is an employee of GMACM or an affiliate of
           GMACM:
      13.  Number of Subsequent Mortgage Loans with respect to which the
           Mortgagor is an employee of GMACM or an affiliate of GMACM:

</TABLE>

<PAGE>

                                    EXHIBIT 3

                             FORM OF ADDITION NOTICE

DATE:

Wells Fargo Bank Minnesota, N.A.                 Moody's Investors Service, Inc.
11000 Broken Land Parkway                         99 Church Street
Columbia, Maryland 21044                          New York, New York 10007

MBIA Insurance Corporation                        Fitch, Inc.
113 King Street                                   One State Street Plaza
Armonk, NY 10504                                  New York, New York 10004
Attention: Insured Portfolio
Management-Structured Finance (GMACM Home
Equity Loan Trust 2000-HE4);

Standard & Poor's, a division of The              Wilmington Trust Company
McGraw-Hill Companies, Inc.                       1100 North Market Street
26 Broadway                                       Wilmington, Delaware 19890
New York, New York 10004-1064

                    Re: GMACM Home Equity Loan Trust 2000-HE4

Ladies and Gentlemen:

        Pursuant to Section 2.2 of the mortgage loan purchase agreement dated as
of  November  29,  2000  (the   "Purchase   Agreement"),   among  GMAC  Mortgage
Corporation,  as a Seller and  Servicer,  Walnut  Grove Home  Equity  Loan Trust
2000-A, as a Seller,  Residential Asset Mortgage  Products,  Inc., as Purchaser,
GMACM Home Equity Loan Trust 2000-HE4, as Issuer and Wells Fargo Bank Minnesota,
NA, as Indenture  Trustee,  [_________]  has designated the Subsequent  Mortgage
Loans identified on the Mortgage Loan Schedule attached hereto to be sold to the
Issuer on , , with an aggregate  Principal  Balance of $ . Capitalized terms not
otherwise  defined  herein have the  meaning set forth in the  Appendix A to the
indenture  dated as of November 29, 2000,  between the Issuer and the  Indenture
Trustee.

        Please  acknowledge  your receipt of this notice by  countersigning  the
enclosed copy in the space  indicated below and returning it to the attention of
the undersigned.

                                            Very truly yours,

                                            [----------------------------],
                                               as Seller

                                            By:
                                                Name:
                                                Title:

ACKNOWLEDGED AND AGREED:

WELLS FARGO BANK MINNESOTA, N.A.,
    as Indenture Trustee

By:
    Name:
    Title:

<PAGE>MBIA

                         NOTE GUARANTY INSURANCE POLICY

OBLIGATIONS: $332,000,000 GMACM Home Equity Loan Trust 2000-HE4
POLICY NUMBER: 33712

                  GMACM Home Equity Loan-Backed Term Notes, Series 2000-HE4
                  $272,716,000 Variable Rate Class A-1 Notes
                  $59,284,000 Variable Rate Class A-2 Notes
                  GMACM Home Equity Loan-Backed Variable Funding Notes,
                  in an amount not to exceed $65,000,000

        MBIA Insurance  Corporation  (the  "Insurer"),  in  consideration of the
payment of the premium and subject to the terms of this Note Guaranty  Insurance
Policy (this "Policy"), hereby unconditionally and irrevocably guarantees to any
Owner that an amount  equal to each full and  complete  Insured  Amount  will be
received  from  the  Insurer  by  Wells  Fargo  Bank  Minnesota,  N.A.,  or  its
successors,  as indenture trustee for the Owners (the "Indenture  Trustee"),  on
behalf of the Owners, for distribution by the Indenture Trustee to each Owner of
each  Owner's   proportionate   share  of  the  Insured  Amount.  The  Insurer's
obligations  hereunder  with  respect to a  particular  Insured  Amount shall be
discharged  to the  extent  funds  equal to the  applicable  Insured  Amount are
received  by the  Indenture  Trustee,  whether or not those  funds are  properly
applied by the Indenture Trustee.  Insured Amounts will be made only at the time
set  forth  in the  Policy,  and no  accelerated  Insured  Amounts  will be made
regardless of any acceleration of the Obligations, unless the acceleration is at
the sole option of the Insurer.

        Notwithstanding  the  foregoing  paragraph,  this  Policy does not cover
shortfalls,  if any, attributable to the liability of the Trust or the Indenture
Trustee for  withholding  taxes,  if any  (including  interest and  penalties in
respect of any such liability), Interest Shortfalls or Relief Act Shortfalls.

        The Insurer will pay any Insured  Amount that is a Preference  Amount on
the  Business  Day  following  receipt on a Business Day by the Fiscal Agent (as
described  below) of (a) a certified copy of the order requiring the return of a
preference payment,  (b) an opinion of counsel  satisfactory to the Insurer that
such order is final and not subject to appeal, (c) an assignment in such form as
is reasonably required by the Insurer,  irrevocably assigning to the Insurer all
rights and claims of the Owner  relating  to or  arising  under the  Obligations
against the debtor which made such preference  payment or otherwise with respect
to such  preference  payment  and (d)  appropriate  instruments  to  effect  the
appointment  of the  Insurer  as agent for such  Owner in any  legal  proceeding
related  to  such  preference   payment,   such  instruments  being  in  a  form
satisfactory to the Insurer,  provided that if such documents are received after
12:00 noon,  New York City time, on such Business Day, they will be deemed to be
received on the following  Business Day. Such payments shall be disbursed to the
receiver  or  trustee  in  bankruptcy  named in the  final  order  of the  court
exercising  jurisdiction  on behalf  of the Owner and not to any Owner  directly
unless such Owner has returned  principal or interest paid on the Obligations to
such  receiver or trustee in  bankruptcy,  in which case such  payment  shall be
disbursed to such Owner.

<PAGE>

        The Insurer  will pay any other amount  payable  hereunder no later than
12:00 noon,  New York City time,  on the later of the Payment  Date on which the
related  Deficiency Amount is due or the third Business Day following receipt in
New York,  New York on a Business  Day by State  Street Bank and Trust  Company,
N.A., as Fiscal Agent for the Insurer,  or any successor  fiscal agent appointed
by the Insurer (the "Fiscal Agent"), of a Notice (as described below),  provided
that if such Notice is received  after 12:00 noon,  New York City time,  on such
Business Day, it will be deemed to be received on the following Business Day. If
any  such  Notice  received  by the  Fiscal  Agent is not in  proper  form or is
otherwise  insufficient for the purpose of making claim  hereunder,  it shall be
deemed  not to have been  received  by the  Fiscal  Agent for  purposes  of this
paragraph,  and the  Insurer  or the  Fiscal  Agent,  as the case may be,  shall
promptly so advise the Indenture Trustee and the Indenture Trustee may submit an
amended Notice.

        Insured Amounts due hereunder,  unless otherwise stated herein,  will be
disbursed by the Fiscal Agent to the  Indenture  Trustee on behalf of the Owners
by wire  transfer of  immediately  available  funds in the amount of the Insured
Amount less, in respect of Insured  Amounts related to Preference  Amounts,  any
amount held by the Indenture  Trustee for the payment of such Insured Amount and
legally available therefor.

        The Fiscal Agent is the agent of the Insurer only,  and the Fiscal Agent
shall in no event be liable to Owners  for any acts of the  Fiscal  Agent or any
failure of the Insurer to deposit, or cause to be deposited, sufficient funds to
make payments due under this Policy.

        Subject to the terms of the  Agreement,  the Insurer shall be subrogated
to the rights of each Owner to receive  payments  under the  Obligations  to the
extent of any payment by the Insurer hereunder.

        As used herein, the following terms shall have the following meanings:

        "Agreement" means the Indenture dated as of November 29, 2000, among the
GMACM Home Equity Loan Trust 2000-HE4,  as Issuer, and the Indenture Trustee, as
indenture trustee, without regard to any amendment or supplement thereto, unless
such amendment or supplement has been approved in writing by the Insurer.

        "Business Day" means any day other than (a) a Saturday or a Sunday (b) a
day on which the Insurer is closed or (c) a day on which banking institutions in
New  York  City or in the  city in  which  the  corporate  trust  office  of the
Indenture  Trustee under the Agreement is located are authorized or obligated by
law or executive order to close.

        "Deficiency  Amount"  means (a) with  respect to any Payment  Date,  the
amount by which the  aggregate  amount of accrued  interest  on the  Obligations
(excluding  any Relief Act  Shortfalls  for such Payment Date) at the respective
Note  Rates on such  Payment  Date  exceeds  the  amount on  deposit in the Note
Payment Account  available for interest  distributions  on such Payment Date and
(b)(i) with respect to any Payment Date that is not the Final Payment Date,  any
Liquidation Loss Amount for such Payment Date, to the extent not included in the
Principal  Distribution  Amount  on  such  Payment  Date or a  reduction  in the
overcollateralization  amount or (ii) on the Final Payment  Date,  the aggregate
outstanding  balance of the Obligations to the extent otherwise not paid on such
date.

<PAGE>

        "Insured Amount" means (a) as of any Payment Date, any Deficiency Amount
and (b) any Preference Amount.

        "Notice" means the telephonic or telegraphic notice,  promptly confirmed
in writing by facsimile  substantially in the form of Exhibit A attached hereto,
the original of which is subsequently delivered by registered or certified mail,
from the Indenture Trustee  specifying the Insured Amount which shall be due and
owing on the applicable Payment Date.

        "Owner" means each  Noteholder (as defined in the Agreement) who, on the
applicable  Payment Date, is entitled under the terms of the applicable Notes to
payment thereunder.

        "Preference Amount" means any amount previously  distributed to an Owner
on the Obligations  that is recoverable and sought to be recovered as a voidable
preference by a trustee in bankruptcy  pursuant to the United States  Bankruptcy
Code (11  U.S.C.),  as  amended  from  time to time in  accordance  with a final
nonappealable order of a court having competent jurisdiction.

        "Relief Act Shortfalls" means current interest shortfalls resulting from
the  application  of the  Soldiers'  and Sailors'  Civil Relief Act of 1940,  as
amended.

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

        Any notice  hereunder  or service of process on the Fiscal  Agent may be
made at the address  listed below for the Fiscal Agent or such other  address as
the Insurer shall specify in writing to the Indenture Trustee.

        The notice address of the Fiscal Agent is 15th Floor,  61 Broadway,  New
York, New York 10006, Attention:  Municipal Registrar and Paying Agency, or such
other  address as the Fiscal  Agent shall  specify to the  Indenture  Trustee in
writing.

        THIS  POLICY  IS BEING  ISSUED  UNDER  AND  PURSUANT  TO,  AND  SHALL BE
CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE
CONFLICT OF LAWS PRINCIPLES THEREOF.

        The   insurance   provided   by  this  Policy  is  not  covered  by  the
Property/Casualty  Insurance  Security  Fund  specified in Article 76 of the New
York Insurance Law.

        This Policy is not cancelable for any reason. The premium on this Policy
is not refundable for any reason, including payment, or provision being made for
payment, prior to maturity of the Obligations.

<PAGE>

        IN WITNESS  WHEREOF,  the  Insurer has caused this Policy to be executed
and attested this 29th day of November, 2000.

                                            MBIA Insurance Corporation

                             /s/ Gary C. Dunton
                                 President

                            /s/ Lisa A. Wilson
                                Assistant Secretary

<PAGE>

                                    EXHIBIT A

                           TO NOTE GUARANTY INSURANCE
                              POLICY NUMBER: 33712

                           NOTICE UNDER NOTE GUARANTY
                         INSURANCE POLICY NUMBER: 33712

State Street Bank and Trust Company, N.A., as Fiscal Agent
      for MBIA Insurance Corporation
15th Floor
61 Broadway
New York, NY 10006
Attention: Municipal Registrar and Paying Agency

MBIA Insurance Corporation
113 King Street
Armonk, NY 10504

        The  undersigned,  a duly  authorized  officer  of  [NAME  OF  INDENTURE
TRUSTEE],  as indenture trustee (the "Indenture  Trustee"),  hereby certifies to
State  Street  Bank and  Trust  Company,  N.A.  (the  "Fiscal  Agent")  and MBIA
Insurance Corporation (the "Insurer"), with reference to Note Guaranty Insurance
Policy  Number:  33712 (the  "Policy")  issued by the  Insurer in respect of the
$332,000,000 GMACM Home Equity Loan Trust 2000-HE4 (the "Obligations"), that:

               (a) the  Indenture  Trustee is the  indenture  trustee  under the
        Indenture  dated as of November 29, 2000 between  GMACM Home Equity Loan
        Trust  2000-HE4,  as Issuer,  and the  Indenture  Trustee,  as indenture
        trustee for the Owners;

               (b)  the  amount  due  under  clause  (a)  of the  definition  of
          Deficiency  Amount for any Payment Date occurring on [__________] (the
          "Applicable Payment Date") is $[________________];

               (c)  the  amount  due  under  clause  (b)  of the  definition  of
          Deficiency Amount for the Applicable Payment Date is $[__________];

               (d) the sum of the amounts listed in paragraphs (b) and (c) above
          is $[__________] (the "Deficiency Amount");

               (e) the amount previously distributed payments on the Obligations
        that is recoverable and sought to be recovered as a voidable  preference
        by a trustee in bankruptcy pursuant to the Bankruptcy Code in accordance
        with  a  final   nonappealable   order  of  a  court  having   competent
        jurisdiction is $[__________] (the "Preference Amount");

<PAGE>

               (f) the total Insured Amount due is  $[__________],  which amount
          equals the sum of the Deficiency Amount and the Preference Amount;

               (g) the Indenture Trustee is making a claim under and pursuant to
        the terms of the Policy for the dollar amount of the Insured  Amount set
        forth in (d) above to be applied to the payment of the Deficiency Amount
        for the Applicable Payment Date in accordance with the Agreement and for
        the  dollar  amount of the  Insured  Amount set forth in (e) above to be
        applied to the payment of any Preference Amount; and

               (h) the  Indenture  Trustee  directs  that payment of the Insured
        Amount be made to the following account by bank wire transfer of federal
        or other immediately available funds in accordance with the terms of the
        Policy: [INDENTURE TRUSTEE'S ACCOUNT NUMBER].

        Any  capitalized  term used in this  Notice  and not  otherwise  defined
herein shall have the meaning assigned thereto in the Policy.

Any Person Who  Knowingly  And With Intent To Defraud Any  Insurance  Company Or
Other Person Files An Application For Insurance Or Statement Of Claim Containing
Any  Materially  False  Information,  Or Conceals For The Purpose Of Misleading,
Information Concerning Any Fact Material Thereto, Commits A Fraudulent Insurance
Act,  Which Is A Crime,  And Shall  Also Be Subject  To A Civil  Penalty  Not To
Exceed Five  Thousand  Dollars  And The Stated  Value Of The Claim For Each Such
Violation.

        IN WITNESS  WHEREOF,  the  Indenture  Trustee has executed and delivered
this Notice under the Policy as of the [___] day of [__________], [___].

                  [NAME OF INDENTURE TRUSTEE], as Indenture Trustee

                  By_______________________________________________
                  Title____________________________________________

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