Document:

Unassociated Document

     

    

      
         

         
CITIGROUP
        MORTGAGE LOAN TRUST INC.

      Depositor

       

      

      WELLS
        FARGO BANK, N.A.

      Servicer

       

       

      CITIBANK,
        N.A.

      Trust
        Administrator

       

       

      and

       

       

      U.S.
        BANK
        NATIONAL ASSOCIATION

      Trustee

       

      _________________________________________

      

      POOLING
        AND SERVICING AGREEMENT

      Dated
        as
        of March 1, 2007

      _________________________________________

       

      Asset-Backed
        Pass-Through Certificates

       

      Series
        2007-WFHE2

       

       

       

      TABLE
        OF CONTENTS

       

      Section

       

      

        
          	
                  ARTICLE
                    I
                    DEFINITIONS

                
	
                  SECTION
                    1.01

                	
                  Defined
                    Terms.

                
	
                  SECTION
                    1.02

                	
                  Allocation
                    of Certain Interest Shortfalls.

                
	
                  ARTICLE
                    II
                    CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
                    CERTIFICATES

                
	
                  SECTION
                    2.01

                	
                  Conveyance
                    of Mortgage Loans.

                
	
                  SECTION
                    2.02

                	
                  Acceptance
                    of the Trust Fund by the Trustee.

                
	
                  SECTION
                    2.03

                	
                  Repurchase
                    or Substitution of Mortgage Loans by the Sponsor or the
                    Depositor.

                
	
                  SECTION
                    2.04

                	
                  [Reserved].

                
	
                  SECTION
                    2.05

                	
                  Representations,
                    Warranties and Covenants of the Servicer.

                
	
                  SECTION
                    2.06

                	
                  Issuance
                    of the Certificates.

                
	
                  SECTION
                    2.07

                	
                  Authorization
                    to Enter into the Interest Rate Cap Agreement

                
	
                  SECTION
                    2.08

                	
                  Conveyance
                    of the REMIC Regular Interests; Acceptance of the Trust REMICs
                    by the
                    Trustee.

                
	
                  ARTICLE
                    III
                    ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS

                
	
                  SECTION
                    3.01

                	
                  Servicer
                    to Act as Servicer.

                
	
                  SECTION
                    3.02

                	
                  Sub-Servicing
                    Agreements Between the Servicer and Sub-Servicers.

                
	
                  SECTION
                    3.03

                	
                  Successor
                    Sub-Servicers.

                
	
                  SECTION
                    3.04

                	
                  Liability
                    of the Servicer.

                
	
                  SECTION
                    3.05

                	
                  No
                    Contractual Relationship Between Sub-Servicers and Trustee, Trust
                    Administrator or Certificateholders.

                
	
                  SECTION
                    3.06

                	
                  Assumption
                    or Termination of Sub-Servicing Agreements by Trust
                    Administrator.

                
	
                  SECTION
                    3.07

                	
                  Collection
                    of Certain Mortgage Loan Payments.

                
	
                  SECTION
                    3.08

                	
                  Sub-Servicing
                    Accounts.

                
	
                  SECTION
                    3.09

                	
                  Collection
                    of Taxes, Assessments and Similar Items; Servicing
                    Accounts.

                
	
                  SECTION
                    3.10

                	
                  Collection
                    Account and Distribution Account.

                
	
                  SECTION
                    3.11

                	
                  Withdrawals
                    from the Collection Account and Distribution Account.

                
	
                  SECTION
                    3.12

                	
                  Investment
                    of Funds in the Collection Account and the Distribution
                    Account.

                
	
                  SECTION
                    3.13

                	
                  [Reserved].

                
	
                  SECTION
                    3.14

                	
                  Maintenance
                    of Hazard Insurance and Errors and Omissions and Fidelity
                    Coverage.

                
	
                  SECTION
                    3.15

                	
                  Enforcement
                    of Due-On-Sale Clauses; Assumption Agreements.

                
	
                  SECTION
                    3.16

                	
                  Realization
                    Upon Defaulted Mortgage Loans.

                
	
                  SECTION
                    3.17

                	
                  Trustee
                    to Cooperate; Release of Mortgage Files.

                
	
                  SECTION
                    3.18

                	
                  Servicing
                    Compensation.

                
	
                  SECTION
                    3.19

                	
                  Reports
                    to the Trust Administrator; Collection Account
                    Statements.

                
	
                  SECTION
                    3.20

                	
                  Statement
                    as to Compliance.

                
	
                  SECTION
                    3.21

                	
                  Assessments
                    of Compliance and Attestation Reports.

                
	
                  SECTION
                    3.22

                	
                  Access
                    to Certain Documentation.

                
	
                  SECTION
                    3.23

                	
                  Title,
                    Management and Disposition of REO Property.

                
	
                  SECTION
                    3.24

                	
                  Obligations
                    of the Servicer in Respect of Prepayment Interest
                    Shortfalls.

                
	
                  SECTION
                    3.25

                	
                  Obligations
                    of the Servicer in Respect of Monthly Payments.

                
	
                  SECTION
                    3.26

                	
                  Advance
                    Facility.

                
	
                  SECTION
                    3.27

                	
                  PMI
                    Policy; Claims Under the PMI Policy.

                
	
                  ARTICLE
                    IV
                    PAYMENTS TO CERTIFICATEHOLDERS

                
	
                  SECTION
                    4.01

                	
                  Distributions.

                
	
                  SECTION
                    4.02

                	
                  Statements
                    to Certificateholders.

                
	
                  SECTION
                    4.03

                	
                  Remittance
                    Reports; P&I Advances.

                
	
                  SECTION
                    4.04

                	
                  Allocation
                    of Extraordinary Trust Fund Expenses and Realized
                    Losses.

                
	
                  SECTION
                    4.05

                	
                  Compliance
                    with Withholding Requirements.

                
	
                  SECTION
                    4.06

                	
                  Net
                    WAC Rate Carryover Reserve Account.

                
	
                  SECTION
                    4.07

                	
                  Commission
                    Reporting.

                
	
                  SECTION
                    4.08

                	
                  Cap
                    Account

                
	
                  SECTION
                    4.09

                	
                  Interest
                    Rate Cap Collateral Account.

                
	
                  SECTION
                    4.10

                	
                  Rights
                    and Obligations Under the Interest Rate Cap Agreement.

                
	
                  ARTICLE
                    V
                    THE CERTIFICATES

                
	
                  SECTION
                    5.01

                	
                  The
                    Certificates.

                
	
                  SECTION
                    5.02

                	
                  Registration
                    of Transfer and Exchange of Certificates.

                
	
                  SECTION
                    5.03

                	
                  Mutilated,
                    Destroyed, Lost or Stolen Certificates.

                
	
                  SECTION
                    5.04

                	
                  Persons
                    Deemed Owners.

                
	
                  SECTION
                    5.05

                	
                  Certain
                    Available Information.

                
	
                  ARTICLE
                    VI
                    THE DEPOSITOR AND THE SERVICER

                
	
                  SECTION
                    6.01

                	
                  Liability
                    of the Depositor and the Servicer.

                
	
                  SECTION
                    6.02

                	
                  Merger
                    or Consolidation of the Depositor or the Servicer.

                
	
                  SECTION
                    6.03

                	
                  Limitation
                    on Liability of the Depositor, the Servicer and Others.

                
	
                  SECTION
                    6.04

                	
                  Limitation
                    on Resignation of the Servicer.

                
	
                  SECTION
                    6.05

                	
                  Rights
                    of the Depositor in Respect of the Servicer.

                
	
                  SECTION
                    6.06

                	
                  Duties
                    of the Credit Risk Manager.

                
	
                  SECTION
                    6.07

                	
                  Limitation
                    Upon Liability of the Credit Risk Manager.

                
	
                  SECTION
                    6.08

                	
                  Removal
                    of the Credit Risk Manager.

                
	
                  ARTICLE
                    VII
                    DEFAULT

                
	
                  SECTION
                    7.01

                	
                  Servicer
                    Events of Default.

                
	
                  SECTION
                    7.02

                	
                  Trust
                    Administrator or Trustee to Act; Appointment of
                    Successor.

                
	
                  SECTION
                    7.03

                	
                  Notification
                    to Certificateholders.

                
	
                  SECTION
                    7.04

                	
                  Waiver
                    of Servicer Events of Default.

                
	
                  ARTICLE
                    VIII
                    CONCERNING THE TRUSTEE AND THE TRUST ADMINISTRATOR

                
	
                  SECTION
                    8.01

                	
                  Duties
                    of Trustee and Trust Administrator.

                
	
                  SECTION
                    8.02

                	
                  Certain
                    Matters Affecting the Trustee and the Trust
                    Administrator.

                
	
                  SECTION
                    8.03

                	
                  Neither
                    the Trustee nor Trust Administrator Liable for Certificates or
                    Mortgage
                    Loans.

                
	
                  SECTION
                    8.04

                	
                  Trustee
                    and Trust Administrator May Own Certificates.

                
	
                  SECTION
                    8.05

                	
                  Trustee’s,
                    Trust Administrator’s and Custodian’s Fees and
                    Expenses.

                
	
                  SECTION
                    8.06

                	
                  Eligibility
                    Requirements for Trustee and Trust Administrator.

                
	
                  SECTION
                    8.07

                	
                  Resignation
                    and Removal of the Trustee and the Trust Administrator.

                
	
                  SECTION
                    8.08

                	
                  Successor
                    Trustee or Trust Administrator.

                
	
                  SECTION
                    8.09

                	
                  Merger
                    or Consolidation of Trustee or Trust Administrator.

                
	
                  SECTION
                    8.10

                	
                  Appointment
                    of Co-Trustee or Separate Trustee.

                
	
                  SECTION
                    8.11

                	
                  [Reserved].

                
	
                  SECTION
                    8.12

                	
                  Appointment
                    of Office or Agency.

                
	
                  SECTION
                    8.13

                	
                  Representations
                    and Warranties.

                
	
                  SECTION
                    8.14

                	
                  [Reserved].

                
	
                  SECTION
                    8.15

                	
                  No
                    Trustee or Trust Administrator Liability for Actions or Inactions
                    of
                    Custodian.

                
	
                  ARTICLE
                    IX
                    TERMINATION

                
	
                  SECTION
                    9.01

                	
                  Termination
                    Upon Repurchase or Liquidation of the Mortgage Loans.

                
	
                  SECTION
                    9.02

                	
                  Additional
                    Termination Requirements.

                
	
                  ARTICLE
                    X
                    REMIC PROVISIONS

                
	
                  SECTION
                    10.01

                	
                  REMIC
                    Administration.

                
	
                  SECTION
                    10.02

                	
                  Prohibited
                    Transactions and Activities.

                
	
                  SECTION
                    10.03

                	
                  Servicer,
                    Trustee and Trust Administrator Indemnification.

                
	
                  ARTICLE
                    XI
                    MISCELLANEOUS PROVISIONS

                
	
                  SECTION
                    11.01

                	
                  Amendment.

                
	
                  SECTION
                    11.02

                	
                  Recordation
                    of Agreement; Counterparts.

                
	
                  SECTION
                    11.03

                	
                  Limitation
                    on Rights of Certificateholders.

                
	
                  SECTION
                    11.04

                	
                  Governing
                    Law.

                
	
                  SECTION
                    11.05

                	
                  Notices.

                
	
                  SECTION
                    11.06

                	
                  Severability
                    of Provisions.

                
	
                  SECTION
                    11.07

                	
                  Notice
                    to Rating Agencies.

                
	
                  SECTION
                    11.08

                	
                  Article
                    and Section References.

                
	
                  SECTION
                    11.09

                	
                  Grant
                    of Security Interest.

                
	
                  SECTION
                    11.10

                	
                  RESERVED.

                
	
                  SECTION
                    11.11

                	
                  Intention
                    of the Parties and
                    Interpretation.

                

        

      Exhibits

       

      
        
          	
                  Exhibit
                    A-1

                	
                  Form
                    of Class A-1 Certificate

                
	
                  Exhibit
                    A-2 

                	
                  Form
                    of Class A-2 Certificate

                
	
                  Exhibit
                    A-3 

                	
                  Form
                    of Class A-3 Certificate

                
	
                  Exhibit
                    A-4 

                	
                  Form
                    of Class A-4 Certificate

                
	
                  Exhibit
                    A-5 

                	
                  Form
                    of Class M-1 Certificate

                
	
                  Exhibit
                    A-6

                	
                  Form
                    of Class M-2 Certificate

                
	
                  Exhibit
                    A-7

                	
                  Form
                    of Class M-3 Certificate

                
	
                  Exhibit
                    A-8

                	
                  Form
                    of Class M-4 Certificate

                
	
                  Exhibit
                    A-9

                	
                  Form
                    of Class M-5 Certificate

                
	
                  Exhibit
                    A-10

                	
                  Form
                    of Class M-6 Certificate

                
	
                  Exhibit
                    A-11

                	
                  Form
                    of Class M-7 Certificate

                
	
                  Exhibit
                    A-12

                	
                  Form
                    of Class M-8 Certificate

                
	
                  Exhibit
                    A-13

                	
                  Form
                    of Class M-9 Certificate

                
	
                  Exhibit
                    A-14

                	
                  Form
                    of Class M-10 Certificate

                
	
                  Exhibit
                    A-15

                	
                  Form
                    of Class CE Certificate

                
	
                  Exhibit
                    A-16

                	
                  Form
                    of Class P Certificate

                
	
                  Exhibit
                    A-17

                	
                  Form
                    of Class R Certificate

                
	
                  Exhibit
                    A-18

                	
                  Form
                    of Class R-X Certificate

                
	
                  Exhibit
                    B

                	
                  Form
                    10-D, Form 8-K and Form 10-K Reporting Responsibility

                
	
                  Exhibit
                    C

                	
                  Servicing
                    Criteria to Be Addressed in Assessment of Compliance

                
	
                  Exhibit
                    D

                	
                  Form
                    of Assignment Agreement

                
	
                  Exhibit
                    E

                	
                  Request
                    for Release

                
	
                  Exhibit
                    F-1

                	
                  Form
                    of Transferor Representation Letter and Form of Transferee Representation
                    Letter in Connection with Transfer of the Private Certificates
                    Pursuant to
                    Rule 144A Under the 1933 Act

                
	
                  Exhibit
                    F-2

                	
                  Form
                    of Transfer Affidavit and Agreement and Form of Transferor Affidavit
                    in
                    Connection with Transfer of Residual Certificates

                
	
                  Exhibit
                    G

                	
                  Form
                    of Certification with respect to ERISA and the Code

                
	
                  Exhibit
                    H-1

                	
                  Form
                    of Certification to be provided by the Depositor with Form
                    10-K

                
	
                  Exhibit
                    H-2

                	
                  Form
                    of Certification to be provided to the Depositor by the Trust
                    Administrator

                
	
                  Exhibit
                    H-3

                	
                  Form
                    of Certification to be provided to the Depositor by the
                    Servicer

                
	
                  Exhibit
                    I

                	
                  Form
                    of Interest Rate Cap Agreement

                
	
                  Exhibit
                    J

                	
                  Form
                    of Cap Administration Agreement

                
	 	 
	
                  Schedule
                    1

                	
                  Mortgage
                    Loan Schedule

                
	
                  Schedule
                    2

                	
                  Prepayment
                    Charge Schedule

                

        

         

      

      This
        Pooling and Servicing Agreement, is dated and effective as of March 1, 2007,
        among CITIGROUP MORTGAGE LOAN TRUST INC., as Depositor, WELLS FARGO BANK,
        N.A.,
        as Servicer, CITIBANK, N.A., as Trust Administrator, and U.S. BANK NATIONAL
        ASSOCIATION, as Trustee.

       

      PRELIMINARY
        STATEMENT:

       

      The
        Depositor intends to sell pass-through certificates to be issued hereunder
        in
        multiple classes, which in the aggregate will evidence the entire beneficial
        ownership interest in each REMIC (as defined herein) created hereunder. The
        Trust Fund will consist of a segregated pool of assets comprised of the Mortgage
        Loans and certain other related assets subject to this Agreement.

       

      REMIC
        I

       

      As
        provided herein, the Trust Administrator will elect to treat the segregated
        pool
        of assets consisting of the Mortgage Loans and certain other related assets
        (other than the Net WAC Rate Carryover Reserve Account, the Cap Account,
        the Cap
        Administration Agreement and the Interest
        Rate Cap Agreement)
        subject
        to this Agreement as a REMIC for federal income tax purposes, and such
        segregated pool of assets will be designated as “REMIC I.” The Class R-I
        Interest will be the sole class of “residual interests” in REMIC I for purposes
        of the REMIC Provisions (as defined herein). The following table irrevocably
        sets forth the designation, the REMIC I Remittance Rate, the initial
        Uncertificated Balance and, for purposes of satisfying Treasury regulation
        Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the
        REMIC I Regular Interests (as defined herein). None of the REMIC I Regular
        Interests will be certificated. 

       

      

      
        	
                Designation

              	 	
                REMIC
                  I

                Remittance
                  Rate

              	 	
                Initial

                Uncertificated
                  Balance

              	 	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                LTAA

              	 	
                (2)

              	 	
                $   969,984,872.98
                  

              	 	
                March
                  25, 2037

              
	
                LTA1

              	 	
                (2)

              	 	
                $      
                  4,183,720.00 

              	 	
                March
                  25, 2037

              
	
                LTA2

              	 	
                (2)

              	 	
                $      
                  1,666,570.00 

              	 	
                March
                  25, 2037

              
	
                LTA3

              	 	
                (2)

              	 	
                $       1,042,650.00
                  

              	 	
                March
                  25, 2037

              
	
                LTA4

              	 	
                (2)

              	 	
                $         
                  634,330.00 

              	 	
                March
                  25, 2037

              
	
                LTM1

              	 	
                (2)

              	 	
                $         
                  400,860.00 

              	 	
                March
                  25, 2037

              
	
                LTM2

              	 	
                (2)

              	 	
                $         
                  445,400.00 

              	 	
                March
                  25, 2037

              
	
                LTM3

              	 	
                (2)

              	 	
                $         
                  202,910.00 

              	 	
                March
                  25, 2037

              
	
                LTM4

              	 	
                (2)

              	 	
                $         
                  178,160.00 

              	 	
                March
                  25, 2037

              
	
                LTM5

              	 	
                (2)

              	 	
                $         
                  158,360.00 

              	 	
                March
                  25, 2037

              
	
                LTM6

              	 	
                (2)

              	 	
                $          113,830.00
                  

              	 	
                March
                  25, 2037

              
	
                LTM7

              	 	
                (2)

              	 	
                $         
                  108,870.00 

              	 	
                March
                  25, 2037

              
	
                LTM8

              	 	
                (2)

              	 	
                $           
                  89,090.00 

              	 	
                March
                  25, 2037

              
	
                LTM9

              	 	
                (2)

              	 	
                $         
                  138,560.00 

              	 	
                March
                  25, 2037

              
	
                LTM10

              	 	
                (2)

              	 	
                $         
                  178,170.00 

              	 	
                March
                  25, 2037

              
	
                LTZZ

              	 	
                (2)

              	 	
                $     10,254,129.65
                  

              	 	
                March
                  25, 2037

              
	
                LTP

              	 	
                (3)

              	 	
                $         100.00
                  

              	 	
                March
                  25, 2037

              

      

      _______________

      
        	(1)	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
                  regulations.

              

      

      
        	(2)	
                Calculated
                  in accordance with the definition of “REMIC I Remittance Rate”
                  herein.

              

      

      
        	(3)	
                REMIC
                  I Regular Interest LTP will also be entitled to 100% of the Prepayment
                  Charges.

              

      

      REMIC
        II

       

      As
        provided herein, the Trust Administrator will elect to treat the segregated
        pool
        of assets consisting of the REMIC I Regular Interests as a REMIC for federal
        income tax purposes, and such segregated pool of assets will be designated
        as
“REMIC II.” The Class R-II Interest will evidence the sole class of “residual
        interests” in REMIC II for purposes of the REMIC Provisions under federal income
        tax law. The following table irrevocably sets forth the designation, the
        Pass-Through Rate, the initial aggregate Certificate Principal Balance and,
        for
        purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the
        “latest possible maturity date” for the indicated Classes of Certificates, the
        Class CE Interest and the Class P Interest, which are
        uncertificated.

       

      
        	
                Designation

              	 	
                Pass-Through
                  Rate

              	 	
                Initial
                  Aggregate Certificate 

                Principal
                  Balance

              	 	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                Class
                  A-1

              	 	
                Variable(2)

              	 	
                $   418,372,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  A-2

              	 	
                Variable(2)

              	 	
                $   166,657,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  A-3

              	 	
                Variable(2)

              	 	
                $   104,265,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  A-4

              	 	
                Variable(2)

              	 	
                $     63,433,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-1

              	 	
                Variable(2)

              	 	
                $     40,086,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-2

              	 	
                Variable(2)

              	 	
                $     44,540,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-3

              	 	
                Variable(2)

              	 	
                $     20,291,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-4

              	 	
                Variable(2)

              	 	
                $     17,816,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-5

              	 	
                Variable(2)

              	 	
                $     15,836,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-6

              	 	
                Variable(2)

              	 	
                $     11,383,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-7

              	 	
                Variable(2)

              	 	
                $     10,887,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-8

              	 	
                Variable(2)

              	 	
                $      
                  8,909,000.00 

              	 	
                March
                  25, 2037

              
	
                Class
                  M-9

              	 	
                Variable(2)

              	 	
                $     13,856,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  M-10

              	 	
                Variable(2)

              	 	
                $     17,817,000.00
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  CE Interest

              	 	
                Variable(3)

              	 	
                $     35,632,482.63
                  

              	 	
                March
                  25, 2037

              
	
                Class
                  P Interest

              	 	
                (4)

              	 	
                $         100.00
                  

              	 	
                March
                  25, 2037

              

      

      _______________

      
        	(1)	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
                  regulations.

              

      

      
        	(2)	
                Calculated
                  in accordance with the definition of “Pass-Through Rate”
                  herein.

              

      

      
        	(3)	
                The
                  Class CE Interest will accrue interest at their variable Pass-Through
                  Rate
                  on the Notional Amount of the Class CE Interest outstanding from
                  time to
                  time which shall equal the aggregate Uncertificated Balance of
                  the REMIC I
                  Regular Interests (other than REMIC I Regular Interest LTP). The
                  Class CE
                  Interest will not accrue interest on their Certificate Principal
                  Balance.

              

      

      
        	(4)	
                The
                  Class P Interest will not accrue interest, but will be entitled
                  to 100% of
                  the Prepayment Charges.

              

      

      REMIC
        III

      

      As
        provided herein, the Trust Administrator will elect to treat the segregated
        pool
        of assets consisting of the Class CE Interest as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC III.”
The Class R-III Interest will evidence the sole class of “residual interests” in
        REMIC III for purposes of the REMIC Provisions under federal income tax law.
        The
        following table irrevocably sets forth the designation, the Pass-Through
        Rate,
        the initial aggregate Certificate Principal Balance and, for purposes of
        satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible
        maturity date” for the indicated Class of Certificates.

       

      
        	
                Designation

              	 	
                Pass-Through
                  Rate

              	 	
                Initial
                  Aggregate Certificate Principal Balance

              	 	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                Class
                  CE Certificates

              	 	
                Variable(2)

              	 	
                $    35,632,482.63
                  

              	 	
                March
                  25, 2037

              

      

      _______________

      
        	(1)	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
                  regulations.

              

      

      
        	(2)	
                The
                  Class CE Certificates will receive 100% of amounts received in
                  respect of
                  the Class CE Interest.

              

      

       

      REMIC
        IV

      

      As
        provided herein, the Trust Administrator will elect to treat the segregated
        pool
        of assets consisting of the Class P Interest as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC IV.”
The Class R-IV Interest will evidence the sole class of “residual interests” in
        REMIC IV for purposes of the REMIC Provisions under federal income tax law.
        The
        following table irrevocably sets forth the designation, the Pass-Through
        Rate,
        the initial aggregate Certificate Principal Balance and, for purposes of
        satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible
        maturity date” for the indicated Classes of Certificates.

       

      
        	
                Designation

              	 	
                Pass-Through
                  Rate

              	 	
                Initial
                  Aggregate Certificate Principal Balance

              	 	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                Class
                  P Certificates

              	 	
                Variable(2)

              	 	
                $100.00

              	 	
                March
                  25, 2037

              

      

      _______________

      
        	(1)	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury
                  regulations.

              

      

      
        	(2)	
                The
                  Class P Certificates will receive 100% of amounts received in respect
                  of
                  the Class P Interest.

              

      

       

      As
        of the
        Cut-off Date, the Mortgage Loans had an aggregate Stated Principal Balance
        equal
        to $989,780,582.63.

       

      In
        consideration of the mutual agreements herein contained, the Depositor, the
        Servicer, the Trust Administrator and the Trustee agree as follows:

       

      ARTICLE
        I

       

      DEFINITIONS

       

      
        	
              	SECTION
                1.01	
                Defined
                  Terms.

              

      

       

      Whenever
        used in this Agreement, including, without limitation, in the Preliminary
        Statement hereto, the following words and phrases, unless the context otherwise
        requires, shall have the meanings specified in this Article. Unless otherwise
        specified, all calculations described herein shall be made on the basis of
        a
        360-day year consisting of twelve 30-day months.

       

      “Adjustable-Rate
        Mortgage Loan”: Each of the Mortgage Loans identified on the Mortgage Loan
        Schedule as having a Mortgage Rate that is subject to adjustment.

       

      “Adjustment
        Date”: With respect to each Adjustable-Rate Mortgage Loan, the first day of the
        month in which the Mortgage Rate of such Mortgage Loan changes pursuant to
        the
        related Mortgage Note. The first Adjustment Date following the Cut-off Date
        as
        to each Adjustable-Rate Mortgage Loan is set forth in the Mortgage Loan
        Schedule.

       

      “Affiliate”:
        With respect to any specified Person, any other Person controlling or controlled
        by or under common control with such specified Person. For the purposes of
        this
        definition, “control” when used with respect to any specified Person means the
        power to direct the management and policies of such Person, directly or
        indirectly, whether through the ownership of voting securities, by contract
        or
        otherwise and the terms “controlling” and “controlled” have meanings correlative
        to the foregoing.

       

      “Agreement”:
        This Pooling and Servicing Agreement and all amendments hereof and supplements
        hereto.

       

      “Allocated
        Realized Loss Amount”: With respect to any Distribution Date and any Class of
        Mezzanine Certificates, (x) the sum of (i) any Realized Losses allocated
        to such
        Class of Certificates on such Distribution Date and (ii) the amount of any
        Allocated Realized Loss Amount for such Class of Certificates remaining unpaid
        from any previous Distribution Date minus (y) the amount of the increase
        in the
        Certificate Principal Balance of such Class due to the receipt of Subsequent
        Recoveries as provided in Section 4.01.

       

      “Assignment”:
        An assignment of Mortgage, notice of transfer or equivalent instrument, in
        recordable form, which is sufficient under the laws of the jurisdiction wherein
        the related Mortgaged Property is located to reflect the record of sale of
        the
        Mortgage.

       

      “Assignment
        Agreement”: The agreement among the Depositor, the Sponsor and the Originator
        regarding the transfer of the Mortgage Loans by the Sponsor to or at the
        direction of the Depositor, substantially in the form of Exhibit D annexed
        hereto.

       

      “Available
        Distribution Amount”: With respect to any Distribution Date, an amount equal to
        the excess of (i) the sum of (a) the aggregate of the Monthly Payments due
        during the Due Period relating to such Distribution Date and received by
        the
        Servicer (or by a Sub-Servicer on their behalf) on or prior to the related
        Determination Date, after deduction of the Servicing Fee, the Credit Risk
        Manager Fee and the PMI Insurer Fee for such Distribution Date, (b) Liquidation
        Proceeds, Insurance Proceeds, Principal Prepayments, proceeds from repurchases
        of and substitutions for Mortgage Loans, Subsequent Recoveries and other
        unscheduled payments of principal and interest in respect of the Mortgage
        Loans
        or REO Properties received by the Servicer during the related Prepayment
        Period,
        (c) the aggregate of any amounts on deposit in the Distribution Account
        representing Compensating Interest Payments paid by the Servicer in respect
        of
        Prepayment Interest Shortfalls relating to Principal Prepayments that occurred
        during the related Prepayment Period, (d) the aggregate of any P&I Advances
        made by the Servicer for such Distribution Date and (e) Prepayment Charges
        received and Servicer Prepayment Charge Payment Amounts paid in respect of
        Mortgage Loans with respect to which a Principal Prepayment occurred during
        the
        related Prepayment Period and any amounts received from the Sponsor as
        contemplated in Section 2.03(b) in respect of any Principal Prepayment that
        occurred during or prior to the related Prepayment Period over (ii) the sum
        of
        (a) amounts reimbursable to the Servicer, the Trustee, the Trust Administrator,
        the Custodian pursuant to Section 6.03 or Section 8.05 or otherwise payable
        in
        respect of Extraordinary Trust Fund Expenses, (b) amounts in respect of the
        items set forth in clauses (i)(a) through (i)(d) above deposited in the
        Collection Account or the Distribution Account in respect of the items set
        forth
        in clauses (i)(a) through (i)(d) above in error and (c) without duplication,
        any
        amounts in respect of the items set forth in clauses (i)(a) and (i)(b) permitted
        hereunder to be retained by the Servicer or to be withdrawn by the Servicer
        from
        the Collection Account pursuant to Section 3.18.

       

      “Balloon
        Mortgage Loan”: A fixed-rate Mortgage Loan that provides for the payment of the
        unamortized Stated Principal Balance of such Mortgage Loan in a single payment
        at the maturity of such fixed-rate Mortgage Loan that is substantially greater
        than the preceding monthly payment.

       

      “Balloon
        Payment”: A payment of the unamortized Stated Principal Balance of a fixed-rate
        Mortgage Loan in a single payment at the maturity of such fixed-rate Mortgage
        Loan that is substantially greater than the preceding Monthly
        Payment.

       

      “Bankruptcy
        Code”: The Bankruptcy Reform Act of 1978 (Title 11 of the United States Code),
        as amended.

       

      “Bankruptcy
        Loss”: With respect to any Mortgage Loan, a Realized Loss resulting from a
        Deficient Valuation or Debt Service Reduction.

       

      “Book-Entry
        Certificate”: Any Certificate registered in the name of the Depository or its
        nominee. Initially, the Book-Entry Certificates will be the Floating Rate
        Certificates.

       

      “Book-Entry
        Custodian”: The custodian appointed pursuant to Section 5.01.

       

      “Business
        Day”: Any day other than a Saturday, a Sunday or a day on which banking or
        savings and loan institutions in the State of New York, the State of Texas,
        the
        State of South Carolina, the State of Missouri, the State of Iowa, the State
        of
        Maryland, the State of California, the State of Arizona, or in the city in
        which
        the Corporate Trust Office of the Trustee or the Corporate Trust Office of
        the
        Trust Administrator is located, are authorized or obligated by law or executive
        order to be closed.

       

      “Cap
        Account”: The account or accounts created and maintained pursuant to Section
        4.08. The Cap Account must be an Eligible Account.

       

      “Cap
        Administration Agreement”: The cap administration agreement between the Sponsor
        and the Cap Trustee in the form attached hereto as Exhibit J.

       

      “Cap
        Administrator”: Citibank, N.A.

       

      “Cap
        Trust”: A separate trust, the sole asset of which is the Interest Rate Cap
        Agreement.

       

      “Cap
        Trustee”: Citibank, N.A.

       

      “Cash-out
        Refinancing”: A Refinanced Mortgage Loan the proceeds of which were in excess of
        the principal balance of any existing first mortgage on the related Mortgaged
        Property and related closing costs, and were used to pay any such existing
        first
        mortgage, related closing costs and subordinate mortgages on the related
        Mortgaged Property.

       

      “Certificate”:
        Any one of the Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed
        Pass-Through Certificates, Series 2007-WFHE2, issued under this
        Agreement.

       

      “Certificate
        Factor”: With respect to any Class of Certificates as of any Distribution Date,
        a fraction, expressed as a decimal carried to six places, the numerator of
        which
        is the aggregate Certificate Principal Balance (or the Notional Amount, in
        the
        case of the Class CE Certificates) of such Class of Certificates on such
        Distribution Date (after giving effect to any distributions of principal
        and
        allocations of Realized Losses and Extraordinary Trust Fund Expenses in
        reduction of the Certificate Principal Balance (or the Notional Amount, in
        the
        case of the Class CE Certificates) of such Class of Certificates to be made
        on
        such Distribution Date), and the denominator of which is the initial aggregate
        Certificate Principal Balance (or the Notional Amount, in the case of the
        Class
        CE Certificates) of such Class of Certificates as of the Closing
        Date.

       

      “Certificateholder”
        or “Holder”: The Person in whose name a Certificate is registered in the
        Certificate Register, except that a Disqualified Organization or a Non-United
        States Person shall not be a Holder of a Residual Certificate for any purposes
        hereof and, solely for the purposes of giving any consent pursuant to this
        Agreement, any Certificate registered in the name of the Depositor or the
        Servicer or any Affiliate thereof shall be deemed not to be outstanding and
        the
        Voting Rights to which it is entitled shall not be taken into account in
        determining whether the requisite percentage of Voting Rights necessary to
        effect any such consent has been obtained, except as otherwise provided in
        Section 11.01. The Trustee and the Trust Administrator may conclusively rely
        upon a certificate of the Depositor or the Servicer in determining whether
        a
        Certificate is held by an Affiliate thereof. All references herein to “Holders”
or “Certificateholders” shall reflect the rights of Certificate Owners as they
        may indirectly exercise such rights through the Depository and participating
        members thereof, except as otherwise specified herein; provided, however,
        that
        the Trustee and the Trust Administrator shall be required to recognize as
        a
“Holder” or “Certificateholder” only the Person in whose name a Certificate is
        registered in the Certificate Register.

       

      “Certificate
        Margin”: With respect to the Floating Rate Certificates and for purposes of the
        Marker Rate and the Maximum LTZZ Uncertificated Interest Deferral Amount,
        the
        specified REMIC I Regular Interest as follows:

       

      
        	
                Class

              	 	
                REMIC
                  I Regular Interest

              	 	
                Certificate
                  Margin

              
	 	 	 	 	
                (1)

              	 	
                (2)

              
	
                A-1

              	 	
                LTA1

              	 	
                0.110%

              	 	
                0.220%

              
	
                A-2

              	 	
                LTA2

              	 	
                0.150%

              	 	
                0.300%

              
	
                A-3

              	 	
                LTA3

              	 	
                0.180%

              	 	
                0.360%

              
	
                A-4

              	 	
                LTA4

              	 	
                0.350%

              	 	
                0.700%

              
	
                M-1

              	 	
                LTM1

              	 	
                0.400%

              	 	
                0.600%

              
	
                M-2

              	 	
                LTM1

              	 	
                0.450%

              	 	
                0.675%

              
	
                M-3

              	 	
                LTM3

              	 	
                0.470%

              	 	
                0.705%

              
	
                M-4

              	 	
                LTM4

              	 	
                0.650%

              	 	
                0.975%

              
	
                M-5

              	 	
                LTM5

              	 	
                0.800%

              	 	
                1.200%

              
	
                M-6

              	 	
                LTM6

              	 	
                1.150%

              	 	
                1.725%

              
	
                M-7

              	 	
                LTM7

              	 	
                1.950%

              	 	
                2.925%

              
	
                M-8

              	 	
                LTM8

              	 	
                2.500%

              	 	
                3.750%

              
	
                M-9

              	 	
                LTM9

              	 	
                2.500%

              	 	
                3.750%

              
	
                M-10

              	 	
                LTM10

              	 	
                2.500%

              	 	
                3.750%

              

      

      __________

      
        	
              	(1)	
                For
                  each Interest Accrual Period for each Distribution Date on or prior
                  to the
                  Optional Termination Date.

              

      

      
        	
              	(2)	
                For
                  each other Interest Accrual Period.

              

      

       

      “Certificate
        Owner”: With respect to a Book-Entry Certificate, the Person who is the
        beneficial owner of such Certificate as reflected on the books of the Depository
        or on the books of a Depository Participant or on the books of an indirect
        participating brokerage firm for which a Depository Participant acts as
        agent.

       

      “Certificate
        Principal Balance”: With respect to each Floating Rate Certificate or Class P
        Certificate as of any date of determination, the Certificate Principal Balance
        of such Certificate on the Distribution Date immediately prior to such date
        of
        determination plus any Subsequent Recoveries added to the Certificate Principal
        Balance of such Certificate pursuant to Section 4.01, minus all distributions
        allocable to principal made thereon and, in the case of the Mezzanine
        Certificates, Realized Losses allocated thereto on such immediately prior
        Distribution Date (or, in the case of any date of determination up to and
        including the first Distribution Date, the initial Certificate Principal
        Balance
        of such Certificate, as stated on the face thereof). With respect to the
        Class
        CE Certificates as of any date of determination, an amount equal to the
        Percentage Interest evidenced by such Certificate times the excess, if any,
        of
        (A) the then aggregate Uncertificated Balance of the REMIC I Regular Interests
        over (B) the then aggregate Certificate Principal Balance of the Floating
        Rate
        Certificates and the Class P Certificates then outstanding.

       

      “Certificate
        Register” and “Certificate Registrar”: The register maintained pursuant to
        Section 5.02. Citibank, N.A. will act as Certificate Registrar, for so long
        as
        it is Trust Administrator under this Agreement.

       

      “Citibank”:
        Citibank, N.A. 

       

      “Class”:
        Collectively, all of the Certificates bearing the same class
        designation.

       

      “Class
        A-1 Certificates”: Any one of the Class A-1 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-1 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        A-2 Certificates”: Any one of the Class A-2 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        A-3 Certificates”: Any one of the Class A-3 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-3 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        A-4 Certificates”: Any one of the Class A-4 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-4 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        A
        Certificates”: Collectively, the Class A-1 Certificates, the Class A-2
        Certificates, the Class A-3 Certificates and the Class A-4
        Certificates.

       

      “Class
        CE
        Certificate”: Any one of the Class CE Certificates executed, authenticated and
        delivered by the Trust Administrator, substantially in the form annexed hereto
        as Exhibit A-16 and evidencing (i) a Regular Interest in REMIC III for purposes
        of the REMIC Provisions and (ii) the obligation to pay Net WAC Rate Carryover
        Amounts.

       

      “Class
        CE
        Interest”: An uncertificated interest in the Trust Fund held by the Trust
        Administrator on behalf of the Holders of the Class CE Certificates, evidencing
        a Regular Interest in REMIC II for purposes of the REMIC
        Provisions.

       

      “Class
        M-1 Certificate”: Any one of the Class M-1 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-5 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        M-1 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date) and (ii) the Certificate Principal Balance of the
        Class
        M-1 Certificates immediately prior to such Distribution Date over (y) the
        lesser
        of (A) the product of (i) approximately 60.20% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-2 Certificate”: Any one of the Class M-2 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-6 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        M-2 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date) and (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 69.20% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-3 Certificate”: Any one of the Class M-3 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-7 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        M-3 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date) and (iv) the Certificate Principal Balance of the Class
        M-3
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 73.30% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-4 Certificate”: Any one of the Class M-4 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-8 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        M-4 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date) and (v) the Certificate Principal Balance of the Class
        M-4
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 76.90% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-5 Certificate”: Any one of the Class M-5 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-9 and evidencing a Regular Interest in REMIC II for purposes
        of the REMIC Provisions.

       

      “Class
        M-5 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date) and (vi) the Certificate Principal Balance of the Class
        M-5
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 80.10% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-6 Certificate”: Any one of the Class M-6 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-10 and evidencing a Regular Interest in REMIC II for
        purposes of the REMIC Provisions.

       

      “Class
        M-6 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distributions of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Certificate Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date) and (vii) the Certificate Principal Balance of the Class
        M-6
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 82.40% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-7 Certificate”: Any one of the Class M-7 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-11 and evidencing a Regular Interest in REMIC II for
        purposes of the REMIC Provisions.

       

      “Class
        M-7 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Certificate Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date), (vii) the Certificate Principal Balance of the Class
        M-6
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-6 Principal Distribution Amount on
        such
        Distribution Date) and (viii) the Certificate Principal Balance of the Class
        M-7
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 84.60% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-8 Certificate”: Any one of the Class M-8 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-12 and evidencing a Regular Interest in REMIC II for
        purposes of the REMIC Provisions.

       

      “Class
        M-8 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Certificate Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date), (vii) the Certificate Principal Balance of the Class
        M-6
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-6 Principal Distribution Amount on
        such
        Distribution Date), (viii) the Certificate Principal Balance of the Class
        M-7
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-7 Principal Distribution Amount on
        such
        Distribution Date) and (viii) the Certificate Principal Balance of the Class
        M-8
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 86.40% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-9 Certificate”: Any one of the Class M-9 Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-13 and evidencing a Regular Interest in REMIC II for
        purposes of the REMIC Provisions.

       

      “Class
        M-9 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Certificate Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date), (vii) the Certificate Principal Balance of the Class
        M-6
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-6 Principal Distribution Amount on
        such
        Distribution Date), (viii) the Certificate Principal Balance of the Class
        M-7
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-7 Principal Distribution Amount on
        such
        Distribution Date), (ix) the Certificate Principal Balance of the Class M-8
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-8 Principal Distribution Amount on
        such
        Distribution Date) and (x) the Certificate Principal Balance of the Class
        M-9
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 89.20% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        M-10 Certificate”: Any one of the Class M-10 Certificates executed,
        authenticated and delivered by the Trust Administrator, substantially in
        the
        form annexed hereto as Exhibit A-14 and evidencing a Regular Interest in
        REMIC
        II for purposes of the REMIC Provisions.

       

      “Class
        M-10 Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the sum of (i) the aggregate Certificate Principal Balance
        of the
        Class A Certificates immediately prior to such Distribution Date (after taking
        into account the distribution of the Senior Principal Distribution Amount
        on
        such Distribution Date), (ii) the Certificate Principal Balance of the Class
        M-1
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (iii) the Certificate Principal Balance of the Class
        M-2
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (iv) the Certificate Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Certificate Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Certificate Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date), (vii) the Certificate Principal Balance of the Class
        M-6
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-6 Principal Distribution Amount on
        such
        Distribution Date), (viii) the Certificate Principal Balance of the Class
        M-7
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-7 Principal Distribution Amount on
        such
        Distribution Date), (ix) the Certificate Principal Balance of the Class M-8
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-8 Principal Distribution Amount on
        such
        Distribution Date), (x) the Certificate Principal Balance of the Class M-9
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-9 Principal Distribution Amount on
        such
        Distribution Date) and (xi) the Certificate Principal Balance of the Class
        M-10
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 92.80% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
        the excess, if any, of (i) the aggregate Stated Principal Balance of the
        Mortgage Loans as of the last day of the related Due Period (after giving
        effect
        to scheduled payments of principal due during the related Due Period, to
        the
        extent received or advanced, and unscheduled collections of principal received
        during the related Prepayment Period) over (ii) 0.50% of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Class
        P
        Certificate”: Any one of the Class P Certificates executed, authenticated and
        delivered by the Trust Administrator, substantially in the form annexed hereto
        as Exhibit A-17 and evidencing a Regular Interest in REMIC IV for purposes
        of
        the REMIC Provisions.

       

      “Class
        P
        Interest”: An uncertificated interest in the Trust Fund held by the Trust
        Administrator on behalf of the Holders of the Class P Certificates, evidencing
        a
        Regular Interest in REMIC II for purposes of the REMIC Provisions.

       

      “Class
        R
        Certificate”: Any one of the Class R Certificates executed, authenticated and
        delivered by the Trust Administrator, substantially in the form annexed hereto
        as Exhibit A-18 and evidencing the ownership of the Class R-I Interest and
        the
        Class R-II Interest.

       

      “Class
        R-X Certificate”: Any one of the Class R-X Certificates executed, authenticated
        and delivered by the Trust Administrator, substantially in the form annexed
        hereto as Exhibit A-19 and evidencing the ownership of the Class R-III Interest
        and the Class R-IV Interest.

       

      “Class
        R-I Interest”: The uncertificated Residual Interest in REMIC I.

       

      “Class
        R-II Interest”: The uncertificated Residual Interest in REMIC II.

       

      “Class
        R-III Interest”: The uncertificated Residual Interest in REMIC III.

       

      “Class
        R-IV Interest”: The uncertificated Residual Interest in REMIC IV.

       

      “Closing
        Date”: April 10, 2007.

       

      “Code”:
        The Internal Revenue Code of 1986, as amended.

       

      “Collection
        Account”: The account or accounts created and maintained by the Servicer
        pursuant to Section 3.10(a), which shall be entitled “Wells Fargo Bank, N.A., as
        servicer for U.S. Bank National Association, as Trustee, in trust for the
        registered holders of Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed
        Pass-Through Certificates, Series 2007-WFHE2,” and which must be an Eligible
        Account. 

       

      “Commission”:
        The Securities and Exchange Commission.

       

      “Compensating
        Interest Payment”: With respect to any Distribution Date and the Mortgage Loans
        for which a Principal Prepayment in full or in part was received during the
        related Prepayment Period, an amount equal to the lesser of (A) the aggregate
        of
        the Prepayment Interest Shortfalls for the related Distribution Date and
        (B) the
        aggregate Servicing Fee received in the related Due Period.

       

      “Corresponding
        Certificate”: With respect to each REMIC I Regular Interest, the Class of
        Regular Certificates listed below:

       

      
        	
                REMIC
                  I Regular Interest

              	 	
                Class

              
	
                LTA1

              	 	
                Class
                  A-1

              
	
                LTA2

              	 	
                Class
                  A-2

              
	
                LTA3

              	 	
                Class
                  A-3

              
	
                LTA4

              	 	
                Class
                  A-3

              
	
                LTM1

              	 	
                Class
                  M-1

              
	
                LTM2

              	 	
                Class
                  M-2

              
	
                LTM3

              	 	
                Class
                  M-3

              
	
                LTM4

              	 	
                Class
                  M-4

              
	
                LTM5

              	 	
                Class
                  M-5

              
	
                LTM6

              	 	
                Class
                  M-6

              
	
                LTM7

              	 	
                Class
                  M-7

              
	
                LTM8

              	 	
                Class
                  M-8

              
	
                LTM9

              	 	
                Class
                  M-9

              
	
                LTM10

              	 	
                Class
                  M-10

              
	
                LTP

              	 	
                Class
                  P

              

      

       

      “Corporate
        Trust Office”: The principal corporate trust office of the Trustee or the Trust
        Administrator at which at any particular time its corporate trust business
        in
        connection with this Agreement shall be administered, which office, with
        respect
        to the Trust Administrator, at the date of the execution of this instrument
        is
        located at 388 Greenwich, 14th
        Floor,
        New York New York 10013, or such other address as the Trust Administrator
        may
        designate from time to time by notice to the Certificateholders, the Depositor,
        the Servicer and the Trustee and, with respect to the Trustee, at the date
        of
        the execution of this instrument is located at One Federal Street, Boston,
        Massachusetts 02110, Attention: Structured Finance/CMLTI 2007-WFHE2, or such
        other address as the Trustee may designate from time to time by notice to
        the
        Certificateholders, the Depositor, the Servicer and the Trust
        Administrator.

       

      “Covered
        Mortgage Loan”: Each Mortgage Loan covered by the PMI Policy.

       

      “Credit
        Risk Manager”: Clayton Fixed Income Services Inc. (formerly known as The
        Murrayhill Company), and its successors and assigns.

       

      “Credit
        Risk Management Agreement”: The agreement, dated as of the Closing Date, between
        the Credit Risk Manager and the Servicer, regarding the loss mitigation and
        advisory services to be provided by the Credit Risk Manager.

       

      “Credit
        Risk Manager Fee”: With respect to any Distribution Date, an amount equal to the
        Credit Risk Manager Fee Rate accrued for one month on the aggregate Stated
        Principal Balance of the Mortgage Loans as of the first day of the related
        Due
        Period.

       

      “Credit
        Risk Manager Fee Rate”: 0.0135% per annum; provided, however, the aggregate fee
        paid to the Credit Risk Manager shall not be less than $2,500 on any
        Distribution Date. 

       

      “Custodian”:
        A document custodian appointed by the Trustee to perform (or in the case
        of the
        related initial Custodian otherwise engaged to perform) custodial duties
        with
        respect to the Mortgage Files. The initial Custodian is Wells Fargo Bank,
        National Association. The Custodian may be the Trustee, any Affiliate of
        the
        Trustee or an independent entity.

       

      “Custodial
        Agreement”: An agreement pursuant to which the Custodian performs custodial
        duties with respect to the Mortgage Files. With respect to the related initial
        Custodian, the applicable agreement pursuant to which the related initial
        Custodian performs its custodial duties with respect to the Mortgage
        Files.

       

      “Cut-off
        Date”: With respect to each Original Mortgage Loan, March 1, 2007. With respect
        to all Qualified Substitute Mortgage Loans, their respective dates of
        substitution. References herein to the “Cut-off Date,” when used with respect to
        more than one Mortgage Loan, shall be to the respective Cut-off Dates for
        such
        Mortgage Loans.

       

      “Debt
        Service Reduction”: With respect to any Mortgage Loan, a reduction in the
        scheduled Monthly Payment for such Mortgage Loan by a court of competent
        jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction
        resulting from a Deficient Valuation.

       

      “Deficient
        Valuation”: With respect to any Mortgage Loan, a valuation of the related
        Mortgaged Property by a court of competent jurisdiction in an amount less
        than
        the then outstanding Stated Principal Balance of the Mortgage Loan, which
        valuation results from a proceeding initiated under the Bankruptcy
        Code.

       

      “Definitive
        Certificates”: As defined in Section 5.01(b).

       

      “Deleted
        Mortgage Loan”: A Mortgage Loan replaced or to be replaced by a Qualified
        Substitute Mortgage Loan.

       

      “Delinquency
        Percentage”: As of the last day of the related Due Period, the percentage
        equivalent of a fraction, the numerator of which is the aggregate Stated
        Principal Balance of the Mortgage Loans that, as of the last day of the previous
        calendar month, are 60 or more days delinquent, are in foreclosure, have
        been
        converted to REO Properties or in bankruptcy (and delinquent 60 days or more),
        and the denominator of which is the aggregate Stated Principal Balance of
        the
        Mortgage Loans and REO Properties as of the last day of the previous calendar
        month.

       

      “Depositor”:
        Citigroup Mortgage Loan Trust Inc., a Delaware corporation, or its successor
        in
        interest.

       

      “Depository”:
        The Depository Trust Company, or any successor Depository hereafter named.
        The
        nominee of the initial Depository, for purposes of registering those
        Certificates that are to be Book-Entry Certificates, is CEDE & Co. The
        Depository shall at all times be a “clearing corporation” as defined in Section
        8-102(3) of the Uniform Commercial Code of the State of New York and a “clearing
        agency” registered pursuant to the provisions of Section 17A of the Securities
        Exchange Act of 1934, as amended.

       

      “Depository
        Institution”: Any depository institution or trust company, including the Trustee
        and the Trust Administrator, that (a) is incorporated under the laws of the
        United States of America or any State thereof, (b) is subject to supervision
        and
        examination by federal or state banking authorities and (c) has, or is a
        subsidiary of a holding company that has, an outstanding unsecured commercial
        paper or other short-term unsecured debt obligations that are rated in the
        highest rating category (P-1 by Moody’s, R-1 by DBRS and A-1 by S&P) by the
        Rating Agencies (or a comparable rating if S&P, Moody’s and DBRS are not the
        Rating Agencies).

       

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

       

      “Determination
        Date”: With respect to each Distribution Date, the 15th
        day of
        the calendar month in which such Distribution Date occurs or, if such
        15th
        day is
        not a Business Day, the Business Day immediately preceding such 15th
        day.

       

      “Directly
        Operate”: With respect to any REO Property, the furnishing or rendering of
        services to the tenants thereof, the management or operation of such REO
        Property, the holding of such REO Property primarily for sale to customers,
        the
        performance of any construction work thereon or any use of such REO Property
        in
        a trade or business conducted by REMIC I, other than through an Independent
        Contractor; provided, however, that the Trustee (or the Servicer on behalf
        of
        the Trustee) shall not be considered to Directly Operate an REO Property
        solely
        because the Trustee (or the Servicer on behalf of the Trustee) establishes
        rental terms, chooses tenants, enters into or renews leases, deals with taxes
        and insurance, or makes decisions as to repairs or capital expenditures with
        respect to such REO Property.

       

      “Disqualified
        Organization”: Any of the following: (i) the United States, any State or
        political subdivision thereof, any possession of the United States, or any
        agency or instrumentality of any of the foregoing (other than an instrumentality
        which is a corporation if all of its activities are subject to tax and, except
        for Freddie Mac, a majority of its board of directors is not selected by
        such
        governmental unit), (ii) any foreign government, any international organization,
        or any agency or instrumentality of any of the foregoing, (iii) any organization
        (other than certain farmers’ cooperatives described in Section 521 of the Code)
        which is exempt from the tax imposed by Chapter 1 of the Code (including
        the tax
        imposed by Section 511 of the Code on unrelated business taxable income),
        (iv)
        rural electric and telephone cooperatives described in Section 1381(a)(2)(C)
        of
        the Code, (v) an “electing large partnership” within the meaning of Section 775
        of the Code and (vi) any other Person so designated by the Trustee or Trust
        Administrator based upon an Opinion of Counsel that the holding of an Ownership
        Interest in a Residual Certificate by such Person may cause any REMIC or
        any
        Person having an Ownership Interest in any Class of Certificates (other than
        such Person) to incur a liability for any federal tax imposed under the Code
        that would not otherwise be imposed but for the Transfer of an Ownership
        Interest in a Residual Certificate to such Person. The terms “United States,”
“State” and “international organization” shall have the meanings set forth in
        Section 7701 of the Code or successor provisions.

       

      “Distribution
        Account”: The trust account or accounts created and maintained by the Trust
        Administrator pursuant to Section 3.10(b) which shall be entitled “Citibank,
        N.A., as Trust Administrator for U.S. Bank National Association as Trustee,
        in
        trust for the registered holders of Citigroup Mortgage Loan Trust 2007-WFHE2,
        Asset-Backed Pass-Through Certificates, Series 2007-WFHE2.” The Distribution
        Account must be an Eligible Account.

       

      “Distribution
        Date”: The 25th
        day of
        any month, or if such 25th
        day is
        not a Business Day, the Business Day immediately following such 25th
        day,
        commencing in April 2007.

       

      “DOL”:
        The United States Department of Labor or any successor in interest.

       

      “DOL
        Regulations”: The regulations promulgated by the DOL at 29
        C.F.R.ss.2510.3-101.

       

      “Due
        Date”: With respect to each Distribution Date, the first day of the calendar
        month in which such Distribution Date occurs, which is the day of the month
        on
        which the Monthly Payment is due on a Mortgage Loan, exclusive of any days
        of
        grace.

       

      “Due
        Period”: With respect to any Distribution Date, the period commencing on the
        second day of the calendar month preceding the calendar month in which such
        Distribution Date occurs and ending on the related Due Date.

       

      “Eligible
        Account”: Any of (i) an account or accounts maintained with a Depository
        Institution, (ii) an account or accounts the deposits in which are fully
        insured
        by the FDIC, (iii) a trust account or accounts maintained with the corporate
        trust department of a federal or state chartered depository institution or
        trust
        company acting in its fiduciary capacity or (iv) an account otherwise acceptable
        to each Rating Agency without reduction or withdrawal of their then current
        ratings of the Certificates as evidenced by a letter from each Rating Agency
        to
        the Trustee and Trust Administrator. Eligible Accounts may bear
        interest.

       

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

       

      “Estate
        in Real Property”: A fee simple estate in a parcel of land.

       

      “Excess
        Overcollateralized Amount”: With respect to the Floating Rate Certificates and
        any Distribution Date, the excess, if any, of (i) the Overcollateralized
        Amount
        for such Distribution Date (calculated for this purpose only after assuming
        that
        100% of the Principal Remittance Amount on such Distribution Date has been
        distributed) over (ii) the Overcollateralization Target Amount for such
        Distribution Date.

       

      “Exchange
        Act”: The Securities Exchange Act of 1934, as amended.

       

      “Expense
        Adjusted Maximum Mortgage Rate”: With respect to any Mortgage Loan (or the
        related REO Property) as of any date of determination, a per annum rate of
        interest equal to the then applicable Maximum Mortgage Rate (or Mortgage
        Rate,
        in the case of any fixed-rate Mortgage Loan) for such Mortgage Loan minus
        the
        sum of the (i) the Servicing Fee Rate, (ii) the Credit Risk Manager Fee Rate
        and
        (iii) the PMI Insurer Fee Rate, if applicable.

       

      “Expense
        Adjusted Mortgage Rate”: With respect to any Mortgage Loan (or the related REO
        Property) as of any date of determination, a per annum rate of interest equal
        to
        the then applicable Mortgage Rate for such Mortgage Loan minus the sum of
        the
        (i) the Servicing Fee Rate, (ii) the Credit Risk Manager Fee Rate and (iii)
        the
        PMI Insurer Fee Rate, if applicable.

       

      “Extraordinary
        Trust Fund Expenses”: Any amounts reimbursable to the Servicer the Depositor, or
        the Credit Risk Manager pursuant to Section 6.03, any amounts payable from
        the
        Distribution Account in respect of taxes pursuant to Section 10.01(g)(iii),
        any
        amounts reimbursable to the Trustee, the Trust Administrator or the Custodian
        from the Trust Fund pursuant to Section 2.01 or Section 8.05 and any other
        costs, expenses, liabilities and losses borne by the Trust Fund (exclusive
        of
        any cost, expense, liability or loss that is specific to a particular Mortgage
        Loan or REO Property and is taken into account in calculating a Realized
        Loss in
        respect thereof) for which the Trust Fund has not and, in the reasonable
        good
        faith judgment of the Trust Administrator, shall not, obtain reimbursement
        or
        indemnification from any other Person.

       

      “Fannie
        Mae”: Fannie Mae, formerly known as the Federal National Mortgage Association,
        or any successor thereto.

       

      “FDIC”:
        Federal Deposit Insurance Corporation or any successor thereto.

       

      “Final
        Recovery Determination”: With respect to any defaulted Mortgage Loan or any REO
        Property (other than a Mortgage Loan or REO Property purchased by the
        Originator, the Sponsor, the Depositor or the Servicer pursuant to or as
        contemplated by Section 2.03 or Section 9.01), a determination made by the
        Servicer that all Liquidation Proceeds have been recovered. The Servicer
        shall
        maintain records of each Final Recovery Determination made thereby.

       

      “Floating
        Rate Certificates”: The Class A Certificates and the Mezzanine
        Certificates.

       

      “Formula
        Rate”: With
        respect to any Distribution Date and each Class of Floating Rate Certificates,
        the lesser of (i) One-Month LIBOR plus the related Certificate Margin and
        (ii)
        the Maximum Cap Rate.

       

      “Freddie
        Mac”: Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation,
        or any successor thereto.

       

      “Gross
        Margin”: With respect to each Adjustable-Rate Mortgage Loan, the fixed
        percentage set forth in the related Mortgage Note that is added to the Index
        on
        each Adjustment Date in accordance with the terms of the related Mortgage
        Note
        used to determine the Mortgage Rate for such Adjustable-Rate Mortgage
        Loan.

       

      “Highest
        Priority”: As of any date of determination, the Class of Mezzanine Certificates
        then outstanding with a Certificate Principal Balance greater than zero,
        with
        the highest priority for payments pursuant to Section 4.01, in the following
        order: Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates.

       

      “Indenture”:
        An indenture relating to the issuance of notes secured by the Class CE
        Certificates, the Class P Certificates and/or the Residual Certificates (or
        any
        portion thereof).

       

      “Independent”:
        When used with respect to any specified Person, any such Person who (a) is
        in
        fact independent of the Depositor, the Servicer and their respective Affiliates,
        (b) does not have any direct financial interest in or any material indirect
        financial interest in the Depositor, the Servicer or any Affiliate thereof,
        and
        (c) is not connected with the Depositor, the Servicer or any Affiliate thereof
        as an officer, employee, promoter, underwriter, trustee, partner, director
        or
        Person performing similar functions; provided, however, that a Person shall
        not
        fail to be Independent of the Depositor, the Servicer or any Affiliate thereof
        merely because such Person is the beneficial owner of 1% or less of any class
        of
        securities issued by the Depositor or the Servicer or any Affiliate thereof,
        as
        the case may be.

       

      “Independent
        Contractor”: Either (i) any Person (other than the Servicer) that would be an
“independent contractor” with respect to any REMIC within the meaning of Section
        856(d)(3) of the Code if any REMIC were a real estate investment trust (except
        that the ownership tests set forth in that section shall be considered to
        be met
        by any Person that owns, directly or indirectly, 35% or more of any Class
        of
        Certificates), so long as any REMIC does not receive or derive any income
        from
        such Person and provided that the relationship between such Person and any
        REMIC
        is at arm’s length, all within the meaning of Treasury Regulation Section
        1.856-4(b)(5), or (ii) any other Person (including the Servicer) if the Trust
        Administrator has received an Opinion of Counsel for the benefit of the Trustee
        and the Trust Administrator to the effect that the taking of any action in
        respect of any REO Property by such Person, subject to any conditions therein
        specified, that is otherwise herein contemplated to be taken by an Independent
        Contractor will not cause such REO Property to cease to qualify as “foreclosure
        property” within the meaning of Section 860G(a)(8) of the Code (determined
        without regard to the exception applicable for purposes of Section 860D(a)
        of
        the Code), or cause any income realized in respect of such REO Property to
        fail
        to qualify as Rents from Real Property.

       

      “Index”:
        With respect to each Adjustable-Rate Mortgage Loan and each related Adjustment
        Date, the index specified in the related Mortgage Note.

       

      “Insurance
        Proceeds”: Proceeds of any title policy, hazard policy or other insurance policy
        covering a Mortgage Loan, including the PMI Policy, to the extent such proceeds
        are not to be applied to the restoration of the related Mortgaged Property
        or
        released to the Mortgagor in accordance with the procedures that the Servicer
        would follow in servicing mortgage loans held for its own account, subject
        to
        the terms and conditions of the related Mortgage Note and Mortgage.

       

      “Interest
        Accrual Period”: With respect to any Distribution Date and the Floating Rate
        Certificates, the period commencing on the Distribution Date of the month
        immediately preceding the month in which such Distribution Date occurs (or,
        in
        the case of the first Distribution Date, commencing on the Closing Date)
        and
        ending on the day immediately preceding such Distribution Date. With respect
        to
        any Distribution Date and the Class CE Certificates and the REMIC Regular
        Interests, the one-month period ending on the last day of the calendar month
        preceding the month in which such Distribution Date occurs.

       

      “Interest
        Carry Forward Amount”: With respect to any Distribution Date and the Floating
        Rate Certificates, the sum of (i) the amount, if any, by which (a) the Interest
        Distribution Amount for such Class of Certificates as of the immediately
        preceding Distribution Date exceeded (b) the actual amount distributed on
        such
        Class of Certificates in respect of interest on such immediately preceding
        Distribution Date, (ii) the amount of any Interest Carry Forward Amount for
        such
        Class of Certificates remaining unpaid from the previous Distribution Date
        and
        (iii) accrued interest on the sum of (i) and (ii) above calculated at the
        related Pass-Through Rate for the most recently ended Interest Accrual
        Period.

       

      “Interest
        Determination Date”: With respect to the Floating Rate Certificates and for
        purposes of the definition of Marker Rate and Maximum LTZZ Uncertificated
        Interest Deferral Amount, REMIC I Regular Interest LTA1, REMIC I Regular
        Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest LTA4,
        REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular
        Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5,
        REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC I Regular
        Interest LTM8, REMIC I Regular Interest LTM9 and REMIC I Regular Interest
        LTM10,
        and any Interest Accrual Period therefor, the second London Business Day
        preceding the commencement of such Interest Accrual Period.

       

      “Interest
        Distribution Amount”: With respect to any Floating Rate Certificate and the
        Class CE Certificates and each Distribution Date, interest accrued during
        the
        related Interest Accrual Period at the Pass-Through Rate for such Certificate
        for such Distribution Date on the Certificate Principal Balance, in the case
        of
        the Floating Rate Certificates, or on the Notional Amount, in the case of
        the
        Class CE Certificates, of such Certificate immediately prior to such
        Distribution Date. The Class P Certificates are not entitled to distributions
        in
        respect of interest and, accordingly, shall not accrue interest. All
        distributions of interest on the Floating Rate Certificates shall be calculated
        on the basis of a 360-day year and the actual number of days in the applicable
        Interest Accrual Period. All distributions of interest on the Class CE
        Certificates shall be based on a 360-day year consisting of twelve 30-day
        months. The Interest Distribution Amount with respect to each Distribution
        Date,
        as to any Floating Rate Certificate or the Class CE Certificates, shall be
        reduced by an amount equal to the portion allocable to such Certificate pursuant
        to Section 1.02 hereof of the sum of (a) the aggregate Prepayment Interest
        Shortfall, if any, for such Distribution Date to the extent not covered by
        payments pursuant to Section 3.24 and (b) the aggregate amount of any Relief
        Act
        Interest Shortfall, if any, for such Distribution Date.

       

      “Interest
        Rate Cap Agreement”: The interest rate cap agreement, dated the Closing Date
        between the Cap Trustee and Interest Rate Cap Provider, including any schedule,
        confirmations, credit support annex or other credit support document relating
        thereto, and attached hereto as Exhibit O. 

       

      “Interest
        Rate Cap Credit Support Annex”: The credit support annex, dated the Closing
        Date, between the Cap Trustee and the Interest Rate Cap Provider, which is
        annexed to and forms part of the Interest Rate Cap Agreement.

       

      “Interest
        Rate Cap Provider”: The interest rate cap provider under the Interest Rate Cap
        Agreement. Initially, the Interest Rate Cap Provider shall be Bear Stearns
        Financial Corporation.

       

      “Interest
        Remittance Amount”: For any Distribution Date, that portion of the Available
        Distribution Amount for the related Distribution Date that represents interest
        received or advanced on the Mortgage Loans and Compensating Interest Payments
        on
        the Mortgage Loans (net of Servicing Fees, Credit Risk Manager Fees and PMI
        Insurer Fees).

       

      “Late
        Collections”: With respect to any Mortgage Loan, all amounts received subsequent
        to the Determination Date immediately following any Due Period, whether as
        late
        payments of Monthly Payments or as Insurance Proceeds, Liquidation Proceeds
        or
        otherwise, which represent late payments or collections of principal and/or
        interest due (without regard to any acceleration of payments under the related
        Mortgage and Mortgage Note) but delinquent for such Due Period and not
        previously recovered.

       

      “Liquidation
        Event”: With respect to any Mortgage Loan, any of the following events: (i) such
        Mortgage Loan is paid in full; (ii) a Final Recovery Determination is made
        as to
        such Mortgage Loan; or (iii) such Mortgage Loan is removed from any REMIC
        by
        reason of its being purchased, sold or replaced pursuant to or as contemplated
        by Section 2.03 or Section 9.01. With respect to any REO Property, either
        of the
        following events: (i) a Final Recovery Determination is made as to such REO
        Property; or (ii) such REO Property is removed from REMIC I by reason of
        its
        being purchased pursuant to Section 9.01.

       

      “Liquidation
        Proceeds”: The amount (including any Insurance Proceeds or amounts received in
        respect of the rental of any REO Property prior to REO Disposition) received
        by
        the Servicer in connection with (i) the taking of all or a part of a Mortgaged
        Property by exercise of the power of eminent domain or condemnation, (ii)
        the
        liquidation of a defaulted Mortgage Loan through a trustee’s sale, foreclosure
        sale or otherwise, or (iii) the repurchase, substitution or sale of a Mortgage
        Loan or an REO Property pursuant to or as contemplated by Section 2.03, Section
        3.23 or Section 9.01.

       

      “Loan-to-Value
        Ratio”: As of any date of determination, the fraction, expressed as a
        percentage, the numerator of which is the principal balance of the related
        Mortgage Loan at such date and the denominator of which is the Value of the
        related Mortgaged Property.

       

      “London
        Business Day”: Any day on which banks in the City of London and New York are
        open and conducting transactions in United States dollars.

       

      “Marker
        Rate”: With respect to the Class CE Certificates and any Distribution Date, a
        per annum rate equal to two (2) times the weighted average of the REMIC I
        Remittance Rate for REMIC
        I
        Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest
        LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest LTM1, REMIC
        I
        Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest
        LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC
        I
        Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest
        LTM9,
        REMIC I
        Regular Interest LTM10 and REMIC I Regular Interest LTZZ, with the rate on
        each
        such REMIC I Regular Interest (other than REMIC I Regular Interest LTZZ)
        subject
        to a cap equal to the lesser of (i) One-Month LIBOR plus the related Certificate
        Margin for the related Corresponding Certificate and (ii) the Net WAC
        Pass-Through Rate for the related Corresponding Certificate for the purpose
        of
        this calculation for such Distribution Date and with the rate on REMIC I
        Regular
        Interest LTZZ subject to a cap of zero for the purpose of this calculation;
        provided, however, each such cap shall be multiplied by a fraction, the
        numerator of which is the actual number of days elapsed in the related Interest
        Accrual Period and the denominator of which is 30.

       

      “Master
        Agreement”: The Amended and Restated Master Mortgage Loan Purchase Agreement
        between Wells Fargo Bank, N.A., as seller and the Sponsor, as purchaser,
        dated
        as of March 1, 2006, as amended by the First Amendment to the Amended and
        Restated Master Mortgage Loan Purchase Agreement, dated October 26,
        2006.

       

      “Maximum
        Cap Rate”: For any Distribution Date, a per annum rate equal to the product of
        (x) the sum of (i) the weighted average of the Expense Adjusted Maximum Mortgage
        Rates of the Mortgage Loans, weighted on the basis of the outstanding Stated
        Principal Balances of the Mortgage Loans as of the first day of the related
        Due
        Period (after
        giving effect to scheduled payments of principal due during the related Due
        Period, to the extent received or advanced, and unscheduled principal payments
        made thereafter during the Prepayment Period that includes such first
        day)
        for
        such Distribution Date plus (ii) an amount, expressed as a per annum rate,
        equal
        to the product of 12 and a fraction, the numerator of which is any payment
        made
        by the Interest Rate Cap Provider for such Distribution Date and the denominator
        of which is the outstanding Stated Principal Balances of the Mortgage Loans
        as
        of the first day of the related Due Period (after giving effect to scheduled
        payments of principal due during the related Due Period, to the extent received
        or advanced, and unscheduled principal payments made thereafter during the
        Prepayment Period that includes such first day) and (y) a fraction, the
        numerator of which is 30 and the denominator of which is the actual number
        of
        days elapsed in the related Interest Accrual Period.

       

      “Maximum
        LTZZ Uncertificated Interest Deferral Amount”: With respect to any Distribution
        Date, the excess of (i) accrued interest at the REMIC I Remittance Rate
        applicable to REMIC I Regular Interest LTZZ for such Distribution Date on
        a
        balance equal to the Uncertificated Balance of REMIC I Regular Interest LTZZ
        minus the REMIC I Overcollateralized Amount, in each case for such Distribution
        Date, over (ii) Uncertificated Interest on REMIC I Regular Interest LTA1,
        REMIC
        I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest
        LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC
        I
        Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest
        LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC
        I
        Regular Interest LTM8, REMIC I Regular Interest LTM9 and REMIC I Regular
        Interest LTM10 for such Distribution Date, with the rate on each such REMIC
        I
        Regular Interest subject to a cap equal to the lesser of (i) One-Month LIBOR
        plus the related Certificate Margin for the related Corresponding Certificate
        and (ii) the Net WAC Pass-Through Rate for the related Corresponding
        Certificate; provided, however, each cap shall be multiplied by a fraction,
        the
        numerator of which is the actual number of days elapsed in the related Interest
        Accrual Period and the denominator of which is 30.

       

      “Maximum
        Mortgage Rate”: With respect to each Adjustable-Rate Mortgage Loan, the
        percentage set forth in the related Mortgage Note as the maximum Mortgage
        Rate
        thereunder.

       

      “MERS”:
        Mortgage Electronic Registration Systems, Inc., a corporation organized and
        existing under the laws of the State of Delaware, or any successor
        thereto.

       

      “MERS
        System”: The system of recording transfers of Mortgages electronically
        maintained by MERS.

       

      “Mezzanine
        Certificates”: Collectively,
        the
        Class M-1 Certificates,
        the
        Class M-2 Certificates, the Class M-3 Certificates, the Class M-4 Certificates,
        Class M-5 Certificates, the Class M-6 Certificates, the Class M-7 Certificates,
        the Class M-8 Certificates, the Class M-9 Certificates and the Class M-10
        Certificates.

       

      “MIN”:
        The Mortgage Identification Number for Mortgage Loans registered with MERS
        on
        the MERS System.

       

      “Minimum
        Mortgage Rate”: With respect to each Adjustable-Rate Mortgage Loan, the
        percentage set forth in the related Mortgage Note as the minimum Mortgage
        Rate
        thereunder.

       

      “MOM
        Loan”: With respect to any Mortgage Loans registered with MERS on the MERS®
System, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee
        for the originator of such Mortgage Loan and its successors and assigns,
        at the
        origination thereof.

       

      “Monthly
        Payment”: With respect to any Mortgage Loan, the scheduled monthly payment of
        principal and interest on such Mortgage Loan which is payable by the related
        Mortgagor from time to time under the related Mortgage Note, determined:
        (a)
        after giving effect to (i) any Deficient Valuation and/or Debt Service Reduction
        with respect to such Mortgage Loan and (ii) any reduction in the amount of
        interest collectible from the related Mortgagor pursuant to the Relief Act;
        (b)
        without giving effect to any extension granted or agreed to by the Servicer
        pursuant to Section 3.07; and (c) on the assumption that all other amounts,
        if
        any, due under such Mortgage Loan are paid when due.

       

      “Moody’s”:
        Moody’s Investors Service, Inc., or its successor in interest.

       

      “Mortgage”:
        The mortgage, deed of trust or other instrument creating a first or second
        lien
        on, or first priority security interest in, a Mortgaged Property securing
        a
        Mortgage Note.

       

      “Mortgage
        File”: The mortgage documents listed in Section 2.01 pertaining to a particular
        Mortgage Loan and any additional documents required to be added to the Mortgage
        File pursuant to this Agreement.

       

      “Mortgage
        Loan”: Each mortgage loan transferred and assigned to the Trustee pursuant to
        Section 2.01 or Section 2.03(d) of this Agreement, as from time to time held
        as
        a part of REMIC I, the Mortgage Loans so held being identified in the Mortgage
        Loan Schedule.

       

      “Mortgage
        Loan Remittance Rate”: With respect to any Mortgage Loan or REO Property, as of
        any date of determination, the then applicable Mortgage Rate in respect thereof
        net of the Servicing Fee Rate.

       

      

        “Mortgage
          Loan Schedule”: As of any date, the list of Mortgage Loans included in REMIC I
          on such date, attached hereto as Schedule 1. The Mortgage Loan Schedule
          shall
          set forth the following information with respect to each Mortgage
          Loan:

         

        (i)         
          the
          Mortgage Loan identifying number;

         

        (ii)        
          a
          code
          indicating whether the Mortgaged Property is owner-occupied;

         

        (iii)       
          the
          type
          of Residential Dwelling constituting the Mortgaged Property;

         

        (iv)       
          the
          original months to maturity;

         

        (v)        
          the
          original date of the mortgage;

         

        (vi)        the
          Loan-to-Value Ratio at origination;

         

        (vii)      
          the
          Mortgage Rate in effect immediately following the Cut-off Date;

         

        (viii)  the
          date
          on which the first Monthly Payment was due on the Mortgage Loan;

         

        (ix)        
          the
          stated maturity date;

         

        (x)         
          the
          amount of the Monthly Payment at origination;

         

        (xi)        
          the
          amount of the Monthly Payment as of the Cut-off Date;

         

        (xii)       
          the
          last
          Due Date on which a Monthly Payment was actually applied to the unpaid
          Stated
          Principal Balance;

         

        (xiii)      
          the
          original principal amount of the Mortgage Loan;

         

        (xiv)      
          the
          Scheduled Principal Balance of the Mortgage Loan as of the close of business
          on
          the Cut-off Date;

         

        (xv)       
          a
          code
          indicating the purpose of the Mortgage Loan (i.e., purchase financing,
          Rate/Term
          Refinancing, Cash-Out Refinancing);

         

        (xvi)      
          a
          code
          indicating the documentation style (i.e., full, alternative or
          reduced);

         

        (xvii)  the
          Value
          of the Mortgaged Property;

         

        (xviii)  the
          sale
          price of the Mortgaged Property, if applicable;

         

        (xix)        
          the
          actual unpaid principal balance of the Mortgage Loan as of the Cut-off
          Date;

         

        (xx)         
          the
          Servicing Fee Rate;

         

        (xxi)        
          the
          term
          of the Prepayment Charge , if any;

         

        (xxii)        the
          percentage of the principal balance covered by lender paid mortgage insurance,
          if any;

         

        (xxiii)       with
          respect to each Adjustable-Rate Mortgage Loan, the Adjustment Dates, the
          Gross
          Margin, the Maximum Mortgage Rate, the Minimum Mortgage Rate, the Periodic
          Rate
          Cap, the maximum first Adjustment Date Mortgage Rate adjustment, the first
          Adjustment Date immediately following the origination date and the rounding
          code
          (i.e., nearest 0.125%, next highest 0.125%); and

         

        (xxiv)       whether
          the Mortgage Loan is covered under the PMI Policy.

         
The
        Mortgage Loan Schedule shall set forth the following information with respect
        to
        the Mortgage Loans as of the Cut-off Date: (1) the number of Mortgage Loans;
        (2)
        the current principal balance of the Mortgage Loans; (3) the weighted average
        Mortgage Rate of the Mortgage Loans; (4) the weighted average maturity of
        the
        Mortgage Loans; (5) the Scheduled Principal Balance of the Mortgage Loans
        as of
        the close of business on the Cut-off Date (not taking into account any Principal
        Prepayments received on the Cut-off Date); and (6) the amount of the Monthly
        Payment as of the Cut-off Date. The Mortgage Loan Schedule shall be amended
        from
        time to time by the Depositor in accordance with the provisions of this
        Agreement. With respect to any Qualified Substitute Mortgage Loan, Cut-off
        Date
        shall refer to the related Cut-off Date for such Mortgage Loan, determined
        in
        accordance with the definition of Cut-off Date herein.

       

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

       

      “Mortgage
        Pool”: The pool of Mortgage Loans, identified on Schedule 1 from time to time,
        and any REO Properties acquired in respect thereof.

       

      “Mortgage
        Rate”: With respect to each Mortgage Loan, the annual rate at which interest
        accrues on such Mortgage Loan from time to time in accordance with the
        provisions of the related Mortgage Note, without regard to any reduction
        thereof
        as a result of a Debt Service Reduction or operation of the Relief Act, which
        rate (i) with respect to each fixed-rate Mortgage Loan shall remain constant
        at
        the rate set forth in the Mortgage Loan Schedule as the Mortgage Rate in
        effect
        immediately following the Cut-off Date and (ii) with respect to the
        Adjustable-Rate Mortgage Loans, (A) as of any date of determination until
        the
        first Adjustment Date following the Cut-off Date shall be the rate set forth
        in
        the Mortgage Loan Schedule as the Mortgage Rate in effect immediately following
        the Cut-off Date and (B) as of any date of determination thereafter shall
        be the
        rate as adjusted on the most recent Adjustment Date equal to the sum, rounded
        as
        provided in the Mortgage Note, of the Index, as published as of a date prior
        to
        the Adjustment Date as set forth in the related Mortgage Note, plus the related
        Gross Margin; provided that the Mortgage Rate on such Adjustable-Rate Mortgage
        Loan on any Adjustment Date shall never be more than the lesser of (i) the
        sum
        of the Mortgage Rate in effect immediately prior to the Adjustment Date plus
        the
        related Periodic Rate Cap, if any, and (ii) the related Maximum Mortgage
        Rate,
        and shall never be less than the greater of (i) the Mortgage Rate in effect
        immediately prior to the Adjustment Date less the Periodic Rate Cap, if any,
        and
        (ii) the related Minimum Mortgage Rate. With respect to each Mortgage Loan
        that
        becomes an REO Property, as of any date of determination, the annual rate
        determined in accordance with the immediately preceding sentence as of the
        date
        such Mortgage Loan became an REO Property.

       

      “Mortgaged
        Property”: The underlying property securing a Mortgage Loan, including any REO
        Property, consisting of an Estate in Real Property improved by a Residential
        Dwelling.

       

      “Mortgagor”:
        The obligor on a Mortgage Note.

       

      “Net
        Monthly Excess Cashflow”: With respect to any Distribution Date, the sum of (i)
        any Overcollateralization Reduction Amount and (ii) the excess of (x) the
        Available Distribution Amount for such Distribution Date over (y) the sum
        for
        such Distribution Date of (A) the Senior Interest Distribution Amounts
        distributable to the Holders of the Class A Certificates and the Interest
        Distribution Amounts distributable to the Holders of the Mezzanine Certificates
        and (B) the Principal Remittance Amount.

       

      “Net
        WAC
        Pass-Through Rate”: For any Distribution Date, a per annum rate equal to the
        product of (x) the weighted average of the Expense Adjusted Mortgage Rates
        of
        the Mortgage Loans, weighted on the basis of the outstanding Stated Principal
        Balances of the Mortgage Loans as
        of the
        first day of the related Due Period (after giving effect to scheduled payments
        of principal due during the related Due Period, to the extent received or
        advanced, and unscheduled principal payments made thereafter during the
        Prepayment Period that includes such first day) and
        (y) a
        fraction, the numerator of which is 30 and the denominator of which is the
        actual number of days elapsed in the related Interest Accrual Period. For
        federal income tax purposes, the equivalent of the foregoing shall be expressed
        as the weighted average of the REMIC I Remittance Rate on the REMIC I Regular
        Interests, weighted on the basis of the Uncertificated Balance of each such
        REMIC I Regular Interest.

       

      “Net
        WAC
        Rate Carryover Reserve Account”: The Net WAC Rate Carryover Reserve Account
        established and maintained pursuant to Section 4.06.

       

      “Net
        WAC
        Rate Carryover Amount”: With respect to any Distribution Date and any Class of
        Floating Rate Certificates, the sum of (A) the positive excess, if any, of
        (i)
        the amount of interest that would have accrued on such Class of Certificates
        for
        such Distribution Date if the Pass-Through Rate for such Class of Certificates
        for such Distribution Date were calculated at the related Formula Rate over
        (ii)
        the amount of interest accrued on such Class of Certificates at the Net WAC
        Pass-Through Rate for such Distribution Date and (B) the related Net WAC
        Rate
        Carryover Amount for any previous Distribution Date not previously distributed
        together with interest accrued on such unpaid amount for the most recently
        ended
        Interest Accrual Period at the Formula Rate for such Class of Certificates
        and
        such Distribution Date. 

       

      “New
        Lease”: Any lease of REO Property entered into on behalf of REMIC I, including
        any lease renewed or extended on behalf of REMIC I, if REMIC I has the right
        to
        renegotiate the terms of such lease.

       

      “Nonrecoverable
        Advance”: Any P&I Advance or Servicing Advance previously made or proposed
        to be made in respect of a Mortgage Loan or REO Property that, in the good
        faith
        business judgment of the Servicer will not or, in the case of a proposed
        P&I
        Advance or Servicing Advance, would not be ultimately recoverable from related
        late payments, Insurance Proceeds or Liquidation Proceeds on such Mortgage
        Loan
        or REO Property as provided herein.

       

      “Non-United
        States Person”: Any Person other than a United States Person.

       

      “Notional
        Amount”: With
        respect to the Class CE Interest and any Distribution Date, the aggregate
        Uncertificated Balance of the REMIC I Regular Interests (other than REMIC
        I
        Regular Interest LTP) for such Distribution Date.

       

      “Officers’
        Certificate”: A certificate signed by the Chairman of the Board, the Vice
        Chairman of the Board, the President or a vice president (however denominated),
        and by the Treasurer, the Secretary, or one of the assistant treasurers or
        assistant secretaries of the Servicer, the Sponsor or the Depositor, as
        applicable.

       

      “One-Month
        LIBOR”: With respect to the Floating Rate Certificates and for purposes of the
        Marker Rate and Maximum LTZZ Uncertificated Interest Deferral Amount, REMIC
        I
        Remittance Rate for REMIC
        I
        Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest
        LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest LTM1, REMIC
        I
        Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest
        LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC
        I
        Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest
        LTM9
        and
        REMIC I Regular Interest LTM10, and any Interest Accrual Period therefor,
        the
        rate determined by the Trust Administrator on the related Interest Determination
        Date on the basis of the offered rate for one-month U.S. dollar deposits,
        as
        such rate appears on Reuters Screen LIBOR01 Page, Bloomberg Page BBAM or
        another
        page of these or any other financial reporting service in general use in
        the
        financial services industry, as of 11:00 a.m. (London time) on such Interest
        Determination Date; provided that if such rate does not appear on Reuters
        Screen
        LIBOR01 Page, the rate for such date will be determined on the basis of the
        offered rates of the Reference Banks for one-month U.S. dollar deposits,
        as of
        11:00 a.m. (London time) on such Interest Determination Date. In such event,
        the
        Trust Administrator will request the principal London office of each of the
        Reference Banks to provide a quotation of its rate. If on such Interest
        Determination Date, two or more Reference Banks provide such offered quotations,
        One-Month LIBOR for the related Interest Accrual Period shall be the arithmetic
        mean of such offered quotations (rounded upwards if necessary to the nearest
        whole multiple of 1/16%). If on such Interest Determination Date, fewer than
        two
        Reference Banks provide such offered quotations, One-Month LIBOR for the
        related
        Interest Accrual Period shall be the higher of (i) LIBOR as determined on
        the
        previous Interest Determination Date and (ii) the Reserve Interest Rate.
        Notwithstanding the foregoing, if, under the priorities described above,
        LIBOR
        for an Interest Determination Date would be based on LIBOR for the previous
        Interest Determination Date for the third consecutive Interest Determination
        Date, the Trust Administrator, after consultation with the Depositor, shall
        select an alternative comparable index (over which the Trust Administrator
        has
        no control), used for determining one-month Eurodollar lending rates that
        is
        calculated and published (or otherwise made available) by an independent
        party.

       

      “Opinion
        of Counsel”: A written opinion of counsel, who may, without limitation, be
        salaried counsel for the Depositor, the Servicer or the Trust Administrator
        acceptable to the Trustee, if such opinion is delivered to the Trustee, or
        reasonably acceptable to the Trust Administrator, if such opinion is delivered
        to the Trust Administrator, except that any opinion of counsel relating to
        (a)
        the qualification of any Trust REMIC as a REMIC or (b) compliance with the
        REMIC
        Provisions must be an opinion of Independent counsel.

       

      “Optional
        Termination Date”: The Determination Date on which the aggregate Stated
        Principal Balance of the Mortgage Loans and each REO Property remaining in
        the
        Trust Fund is less than 10% of the aggregate Stated Principal Balance of
        the
        Mortgage Loans as of the Cut-off Date.

       

      “Original
        Mortgage Loan”: Any Mortgage Loans included in Trust Fund as of the Closing
        Date.

       

      “Originator”:
        Wells Fargo Bank, N.A., a national banking association.

       

      “OTS
        Method”: As defined in Section 4.02 hereof.

       

      “Overcollateralization
        Deficiency Amount”: With respect to any Distribution Date, the excess, if any,
        of (a) the Overcollateralization Target Amount applicable to such Distribution
        Date over (b) the Overcollateralized Amount applicable to such Distribution
        Date
        (calculated for this purpose only after assuming that 100% of the Principal
        Remittance Amount on such Distribution Date has been distributed).

       

      “Overcollateralization
        Increase Amount”: With respect to any Distribution Date, the lesser of (a) the
        sum of (i) the Net Monthly Excess Cashflow for such Distribution Date and
        (ii)
        any amounts received under the Interest Rate Cap Agreement for this purpose
        and
        (b) the Overcollateralization Deficiency Amount for such Distribution Date
        (calculated for this purpose only after assuming that 100% of the Principal
        Remittance Amount on such Distribution Date has been distributed).

       

      “Overcollateralization
        Reduction Amount”: With respect to any Distribution Date, an amount equal to the
        lesser of (a) the Principal Remittance Amount for such Distribution Date
        and (b)
        the Excess Overcollateralized Amount.

       

      “Overcollateralization
        Target Amount”: With respect to any Distribution Date, (i) prior to the Stepdown
        Date, an amount equal to 3.60% of the aggregate outstanding Stated Principal
        Balance of the Mortgage Loans as of the Cut-off Date, (ii) on or after the
        Stepdown Date provided a Trigger Event is not in effect, the greater of (x)
        7.20% of the then current aggregate outstanding Stated Principal Balance
        of the
        Mortgage Loans as of the last day of the related Due Period and (y) 0.50%
        of the
        aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
        Date,
        or (iii) on or after the Stepdown Date and if a Trigger Event is in effect,
        the
        Overcollateralization Target Amount for the immediately preceding Distribution
        Date. Notwithstanding the foregoing, on and after any Distribution Date
        following the reduction of the aggregate Certificate Principal Balance of
        the
        Floating Rate Certificates to zero, the Overcollateralization Target Amount
        shall be zero.

       

      “Overcollateralized
        Amount”: With respect to any Distribution Date, the excess, if any, of (a) the
        aggregate Stated Principal Balances of the Mortgage Loans and REO Properties
        as
        of the last day of the related Due Period (after giving effect to scheduled
        payments of principal due during the related Due Period, to the extent received
        or advanced, and unscheduled collections of principal received during the
        related Prepayment Period) over (b) the sum of the aggregate Certificate
        Principal Balance of the Floating Rate Certificates and the Class P
        Certificates after
        giving effect to distributions to be made on such Distribution
        Date.

       

      “Ownership
        Interest”: As to any Certificate, any ownership or security interest in such
        Certificate, including any interest in such Certificate as the Holder thereof
        and any other interest therein, whether direct or indirect, legal or beneficial,
        as owner or as pledgee.

       

      “Pass-Through
        Rate”: With respect to the Floating Rate Certificates and any Distribution Date,
        the lesser of (x) the related Formula Rate for such Distribution Date and
        (y)
        the Net WAC Pass-Through Rate for such Distribution Date.

       

      With
        respect to the Class CE Interest and any Distribution Date, a per annum rate
        equal to the percentage equivalent of a fraction, the numerator of which
        is (x)
        the sum of (i) 100% of the interest on REMIC I Regular Interest LTP and (ii)
        interest on the Uncertificated Principal Balance of each REMIC I Regular
        Interest listed in clause (y) below at a rate equal to the related REMIC
        I
        Remittance Rate minus the Marker Rate and the denominator of which is (y)
        the
        aggregate Uncertificated Balance of REMIC I Regular Interest LTAA, REMIC
        I
        Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest
        LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest LTM1, REMIC
        I
        Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest
        LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC
        I
        Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest
        LTM9, REMIC I Regular Interest LTM10 and REMIC I Regular Interest LTZZ.

       

      With
        respect to the Class CE Certificates, 100% of the interest distributable
        to the
        Class CE Interest, expressed as a per annum rate.

       

      The
        Class
        P Certificates, Class R Certificates and Class R-X Certificates will not
        accrue
        interest and therefore will not have a Pass-Through Rate.

       

      “Percentage
        Interest”: With respect to any Class of Certificates (other than the Residual
        Certificates), the portion of the respective Class evidenced by such
        Certificate, expressed as a percentage, the numerator of which is the initial
        Certificate Principal Balance or Notional Amount represented by such
        Certificate, and the denominator of which is the initial aggregate Certificate
        Principal Balance or Notional Amount of all of the Certificates of such Class.
        The Floating Rate Certificates are issuable only in minimum Percentage Interests
        corresponding to minimum initial Certificate Principal Balances of $25,000
        and
        integral multiples of $1.00 in excess thereof. The Class P Certificates are
        issuable only in Percentage Interests corresponding to initial Certificate
        Principal Balances of $20 and integral multiples thereof. The Class CE
        Certificates are issuable only in minimum Percentage Interests corresponding
        to
        minimum initial Certificate Principal Balances of $100,000 and integral
        multiples of $1.00 in excess thereof; provided, however, that a single
        Certificate of each such Class of Certificates may be issued having a Percentage
        Interest corresponding to the remainder of the aggregate initial Certificate
        Principal Balance or Notional Amount of such Class or to an otherwise authorized
        denomination for such Class plus such remainder. With respect to any Residual
        Certificate, the undivided percentage ownership in such Class evidenced by
        such
        Certificate, as set forth on the face of such Certificate. The Residual
        Certificates are issuable in Percentage Interests of 20% and multiples
        thereof.

       

      “Periodic
        Rate Cap”: With respect to each Adjustable-Rate Mortgage Loan and any Adjustment
        Date therefor, the fixed percentage set forth in the related Mortgage Note,
        which is the maximum amount by which the Mortgage Rate for such Mortgage
        Loan
        may increase or decrease (without regard to the Maximum Mortgage Rate or
        the
        Minimum Mortgage Rate) on such Adjustment Date from the Mortgage Rate in
        effect
        immediately prior to such Adjustment Date.

       

      “Permitted
        Investments”: Any one or more of the following obligations or securities
        acquired at a purchase price of not greater than par, regardless of whether
        issued by the Depositor, the Servicer, the Trustee, the Trust Administrator
        or
        any of their respective Affiliates:

       

      (i)  direct
        obligations of, or obligations fully guaranteed as to timely payment of
        principal and interest by, the United States or any agency or instrumentality
        thereof, provided such obligations are backed by the full faith and credit
        of
        the United States;

       

      (ii)  demand
        and time deposits in, certificates of deposit of, or bankers’ acceptances (which
        shall each have an original maturity of not more than 90 days and, in the
        case
        of bankers’ acceptances, shall in no event have an original maturity of more
        than 365 days or a remaining maturity of more than 30 days) denominated in
        United States dollars and issued by, any Depository Institution;

       

      (iii)  repurchase
        obligations with respect to any security described in clause (i) above entered
        into with a Depository Institution (acting as principal);

       

      (iv)  securities
        bearing interest or sold at a discount that are issued by any corporation
        incorporated under the laws of the United States of America or any state
        thereof
        and that are rated by the Rating Agencies in its highest long-term unsecured
        rating category at the time of such investment or contractual commitment
        providing for such investment;

       

      (v)  commercial
        paper (including both non-interest-bearing discount obligations and
        interest-bearing obligations payable on demand or on a specified date not
        more
        than 30 days after the date of acquisition thereof) that is rated by the
        Rating
        Agencies that rate such securities in its highest short-term unsecured debt
        rating available at the time of such investment;

       

      (vi)  units
        of
        money market funds, including money market funds affiliated with the Trustee,
        the Trust Administrator or an Affiliate of either of them, that have been
        rated
“AAA” by S&P, “Aaa” by Moody’s and “AAA” by DBRS; and

       

      (vii)  if
        previously confirmed in writing to the Servicer, the Trustee and the Trust
        Administrator, any other demand, money market or time deposit, or any other
        obligation, security or investment, as may be acceptable to the Rating Agencies
        as a permitted investment of funds backing securities having ratings equivalent
        to its highest initial rating of the Class A Certificates;

       

      provided,
        however, that no instrument described hereunder shall evidence either the
        right
        to receive (a) only interest with respect to the obligations underlying such
        instrument or (b) both principal and interest payments derived from obligations
        underlying such instrument and the interest and principal payments with respect
        to such instrument provide a yield to maturity at par greater than 120% of
        the
        yield to maturity at par of the underlying obligations.

       

      “Permitted
        Transferee”: Any Transferee of a Residual Certificate other than a Disqualified
        Organization or Non-United States Person.

       

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

       

      “P&I
        Advance”: As to any Mortgage Loan or REO Property, any advance made by the
        Servicer in respect of any Distribution Date pursuant to Section
        4.03.

       

      “Plan”:
        Any employee benefit plan or certain other retirement plans and arrangements,
        including individual retirement accounts and annuities, Keogh plans and bank
        collective investment funds and insurance company general or separate accounts
        in which such plans, accounts or arrangements are invested, that are subject
        to
        ERISA or Section 4975 of the Code.

       

      “PMI
        Insurer”: United Guaranty Mortgage Indemnity Company, a North Carolina insurance
        company, or its successor in interest.

       

      “PMI
        Insurer Fee”: The premium payable to the PMI Insurer on each Distribution Date
        pursuant to Section 3.27, which amount shall equal one twelfth of the product
        of
        (i) the PMI Insurer Fee Rate (without regard to the words “per annum”),
        multiplied by (ii) the aggregate Stated Principal Balance of the Covered
        Mortgage Loans and any related REO Properties as of the first day of the
        related
        Due Period (after giving effect to scheduled payments of principal due during
        the Due Period relating to the previous Distribution Date, to the extent
        received or advanced) plus any applicable premium taxes on Covered Mortgage
        Loans located in West Virginia and Kentucky.

       

      “PMI
        Insurer Fee Rate”: With respect to any Distribution Date and any Covered
        Mortgage Loan covered by the PMI Policy, 3.405% per annum.

       

      “PMI
        Policy”: The primary mortgage insurance policy (policy reference number: Bulk
        85) with respect to the Covered Mortgage Loans, including all endorsements
        thereto dated the Closing Date, issued by the PMI Insurer.

       

      “Prepayment
        Assumption”: As defined in the Prospectus Supplement.

       

      “Prepayment
        Charge”: With respect to any Prepayment Period, any prepayment premium, penalty
        or charge payable by a Mortgagor in connection with any Principal Prepayment
        on
        a Mortgage Loan pursuant to the terms of the related Mortgage Note (other
        than
        any Servicer Prepayment Charge Payment Amount).

       

      “Prepayment
        Charge Schedule”: As of any date, the list of Prepayment Charges included in the
        Trust Fund on such date, attached hereto as Schedule 2 (including the prepayment
        charge summary attached thereto). The Prepayment Charge Schedule shall set
        forth
        the following information with respect to each Prepayment Charge:

       

      (i)        
        the
        Mortgage Loan identifying number;

       

      (ii)       
        a
        code
        indicating the type of Prepayment Charge;

       

      (iii)  the
        date
        on which the first Monthly Payment was due on the related Mortgage
        Loan;

       

      (iv)  the
        term
        of the related Prepayment Charge;

       

      (v)      
        the
        original Stated Principal Balance of the related Mortgage Loan; and

       

      (vi)  the
        Stated Principal Balance of the related Mortgage Loan as of the Cut-off
        Date.

       

      “Prepayment
        Interest Shortfall”: With respect to any Distribution Date, for each Mortgage
        Loan that was during the related Prepayment Period the subject of a Principal
        Prepayment in full or in part, an amount equal to interest at the applicable
        Mortgage Loan Remittance Rate on the amount of such Principal Prepayment
        for the
        number of days commencing on the date on which the prepayment is applied
        and
        ending on the last day of the calendar month preceding the calendar month
        in
        which such Distribution Date occurs. The obligations of the Servicer in respect
        of any Prepayment Interest Shortfall are set forth in Section 3.24.

       

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

       

      “Prime
        Rate”: The lesser of (i) the per annum rate of interest, publicly announced from
        time to time by Chase Manhattan Bank at its principal office in the City
        of New
        York, as its prime or base lending rate (any change in such rate of interest
        to
        be effective on the date such change is announced by Chase Manhattan Bank)
        and
        (ii) the maximum rate permissible under applicable usury or similar laws
        limiting interest rates.

       

      “Principal
        Distribution Amount”: With respect to any Distribution Date, the sum of (i) the
        principal portion of each Monthly Payment due on the Mortgage Loans during
        the
        related Due Period, whether or not received on or prior to the related
        Determination Date; (ii) the Stated Principal Balance of any Mortgage Loan
        that
        was purchased during the related Prepayment Period pursuant to or as
        contemplated by Section 2.03 or Section 9.01 and the amount of any shortfall
        deposited in the Collection Account in connection with the substitution of
        a
        Deleted Mortgage Loan pursuant to Section 2.03 during the related Prepayment
        Period; (iii) the principal portion of all other unscheduled collections
        (including, without limitation, Principal Prepayments, Insurance Proceeds
        (including proceeds from the PMI Policy), Liquidation Proceeds, Subsequent
        Recoveries and REO Principal Amortization) received during the related
        Prepayment Period, net of any portion thereof that represents a recovery
        of
        principal for which an Advance was made by the Servicer pursuant to Section
        4.03
        in respect of a preceding Distribution Date and (iv) any Overcollateralization
        Increase Amount for such Distribution Date minus (v) any Overcollateralization
        Reduction Amount for such Distribution Date. In no event will the Principal
        Distribution Amount with respect to any Distribution Date be (x) less than
        zero
        or (y) greater than the then outstanding aggregate Certificate Principal
        Balance
        of the Floating Rate Certificates.

       

      “Principal
        Prepayment”: Any payment of principal made by the Mortgagor on a Mortgage Loan
        which is received in advance of its scheduled Due Date and which is not
        accompanied by an amount of interest representing the full amount of scheduled
        interest due on any Due Date in any month or months subsequent to the month
        of
        prepayment.

       

      “Principal
        Remittance Amount”: For any Distribution Date, that portion of the Available
        Distribution Amount equal to the sum of the amounts set forth in (i) through
        (iii) of the definition of Principal Distribution Amount.

       

      “Private
        Certificates”: Any of the Class CE, Class P or Residual
        Certificates.

       

      “Prospectus
        Supplement”: The Prospectus Supplement, dated March 13, 2007, relating to the
        public offering of the Floating Rate Certificates.

       

      “Purchase
        Price”: With respect to any Mortgage Loan or REO Property to be purchased by the
        Sponsor pursuant to or as contemplated by Section 2.03 or Section 9.01, and
        as
        confirmed by an Officers’ Certificate from the party purchasing the Mortgage
        Loan to the Trustee and the Trust Administrator, an amount equal to the sum
        of:
        (i) 100% of the Stated Principal Balance thereof as of the date of purchase
        (or
        such other price as provided in Section 9.01), (ii) in the case of (x) a
        Mortgage Loan, accrued interest on such Stated Principal Balance at the
        applicable Mortgage Loan Remittance Rate in effect from time to time from
        the
        Due Date as to which interest was last covered by a payment by the Mortgagor
        or
        an advance by the Servicer, which payment or advance had as of the date of
        purchase been distributed pursuant to Section 4.01, through the end of the
        calendar month in which the purchase is to be effected, and (y) an REO Property,
        the sum of (1) accrued interest on such Stated Principal Balance at the
        applicable Mortgage Loan Remittance Rate in effect from time to time from
        the
        Due Date as to which interest was last covered by a payment by the Mortgagor
        or
        an advance by the Servicer through the end of the calendar month immediately
        preceding the calendar month in which such REO Property was acquired, plus
        (2)
        REO Imputed Interest for such REO Property for each calendar month commencing
        with the calendar month in which such REO Property was acquired and ending
        with
        the calendar month in which such purchase is to be effected, minus the total
        of
        all net rental income, Insurance Proceeds, Liquidation Proceeds and P&I
        Advances that as of the date of purchase had been distributed as or to cover
        REO
        Imputed Interest pursuant to Section 4.01; (iii) any unreimbursed Servicing
        Advances and P&I Advances and any unpaid Servicing Fees allocable to such
        Mortgage Loan or REO Property; (iv) any amounts previously withdrawn from
        the
        Collection Account in respect of such Mortgage Loan or REO Property pursuant
        to
        Sections 3.11(a)(ix) and Section 3.16(b); and (v) in the case of a Mortgage
        Loan
        required to be purchased pursuant to Section 2.03, expenses incurred or to
        be
        incurred by the Trust Fund in respect of the breach or defect giving rise
        to the
        purchase obligation including any costs and damages incurred by the Trust
        Fund
        in connection with any violation of any predatory or abusive lending law
        with
        respect to the related Mortgage Loan. With respect to any Mortgage Loan or
        REO
        Property to be purchased by the Originator pursuant to or as contemplated
        by
        Section 2.03 or Section 9.01, and as confirmed by an Officers’ Certificate from
        the Originator to the Trustee and the Trust Administrator, an amount equal
        to
        the amount set forth pursuant to the terms of the related Master
        Agreement.

       

      “Qualified
        Insurer”: Any insurer which meets the requirements of Fannie Mae and Freddie
        Mac.

       

      “Qualified
        Substitute Mortgage Loan”: A mortgage loan substituted for a Deleted Mortgage
        Loan by the Sponsor pursuant to the terms of this Agreement which must, on
        the
        date of such substitution, (i) have an outstanding principal balance, after
        application of all scheduled payments of principal and interest due during
        or
        prior to the month of substitution, not in excess of the Scheduled Principal
        Balance of the Deleted Mortgage Loan as of the Due Date in the calendar month
        during which the substitution occurs, (ii) have a Mortgage Rate not less
        than
        (and not more than one percentage point in excess of) the Mortgage Rate of
        the
        Deleted Mortgage Loan, (iii) be covered under a Primary Mortgage Insurance
        Policy if such Qualified Substitute Mortgage Loan has a Loan-to-Value Ratio
        in
        excess of 80% and the Deleted Mortgage Loan was covered by a Primary Mortgage
        Insurance Policy, (iv) have a remaining term to maturity not greater than
        (and
        not more than one year less than) that of the Deleted Mortgage Loan, (v)
        have
        the same Due Date as the Due Date on the Deleted Mortgage Loan, (vi) have
        a
        Loan-to-Value Ratio as of the date of substitution equal to or lower than
        the
        Loan-to-Value Ratio of the Deleted Mortgage Loan as of such date, (vii) be
        covered by the PMI Policy if the Deleted Mortgage Loan was covered by the
        PMI
        Policy and (viii) conform to each representation and warranty set forth in
        the
        Assignment Agreement applicable to the Deleted Mortgage Loan. In the event
        that
        one or more mortgage loans are substituted for one or more Deleted Mortgage
        Loans, the amounts described in clause (i) hereof shall be determined on
        the
        basis of aggregate principal balances, the Mortgage Rates described in clause
        (ii) hereof shall be determined on the basis of weighted average Mortgage
        Rates,
        the terms described in clause (viii) shall be determined on the basis of
        weighted average remaining terms to maturity, the Loan-to-Value Ratios described
        in clause (iv) hereof shall be satisfied as to each such mortgage loan and,
        except to the extent otherwise provided in this sentence, the representations
        and warranties described in clause (vi) hereof must be satisfied as to each
        Qualified Substitute Mortgage Loan or in the aggregate, as the case may be.
        With
        respect to the Originator, a mortgage loan substituted for a Deleted Mortgage
        Loan pursuant to the terms of the related Master Agreement which must, on
        the
        date of such substitution conform to the terms set forth in the related Master
        Agreement.

       

      “Rate/Term
        Refinancing”: A Refinanced Mortgage Loan, the proceeds of which are not in
        excess of the existing first mortgage loan on the related Mortgaged Property
        and
        related closing costs, and were used exclusively to satisfy the then existing
        first mortgage loan of the Mortgagor on the related Mortgaged Property and
        to
        pay related closing costs.

       

      “Rating
        Agencies”: S&P and Moody’s or their successors. If such agencies or their
        successors are no longer in existence, the “Rating Agencies” shall be such
        nationally recognized statistical rating agencies, or other comparable Persons,
        designated by the Depositor, written notice of which designation shall be
        given
        to the Trustee, the Trust Administrator and the Servicer.

       

      “Realized
        Loss”: With respect to each Mortgage Loan as to which a Final Recovery
        Determination has been made, an amount (not less than zero) equal to (i)
        the
        unpaid principal balance of such Mortgage Loan as of the commencement of
        the
        calendar month in which the Final Recovery Determination was made, plus (ii)
        accrued interest from the Due Date as to which interest was last paid by
        the
        Mortgagor through the end of the calendar month in which such Final Recovery
        Determination was made, calculated in the case of each calendar month during
        such period (A) at an annual rate equal to the annual rate at which interest
        was
        then accruing on such Mortgage Loan and (B) on a principal amount equal to
        the
        Stated Principal Balance of such Mortgage Loan as of the close of business
        on
        the Distribution Date during such calendar month, plus (iii) any amounts
        previously withdrawn from the Collection Account in respect of such Mortgage
        Loan pursuant to Section 3.11(a)(ix) and Section 3.16(b), minus (iv) the
        proceeds, if any, received in respect of such Mortgage Loan prior to the
        date
        such Final Recovery Determination was made, net of amounts that are payable
        therefrom to the Servicer with respect to such Mortgage Loan pursuant to
        Section
        3.11(a)(iii).

       

      With
        respect to any REO Property as to which a Final Recovery Determination has
        been
        made an amount (not less than zero) equal to (i) the unpaid principal balance
        of
        the related Mortgage Loan as of the date of acquisition of such REO Property
        on
        behalf of any REMIC, plus (ii) accrued interest from the Due Date as to which
        interest was last paid by the Mortgagor in respect of the related Mortgage
        Loan
        through the end of the calendar month immediately preceding the calendar
        month
        in which such REO Property was acquired, calculated in the case of each calendar
        month during such period (A) at an annual rate equal to the annual rate at
        which
        interest was then accruing on the related Mortgage Loan and (B) on a principal
        amount equal to the Stated Principal Balance of the related Mortgage Loan
        as of
        the close of business on the Distribution Date during such calendar month,
        plus
        (iii) REO Imputed Interest for such REO Property for each calendar month
        commencing with the calendar month in which such REO Property was acquired
        and
        ending with the calendar month that occurs during the Prepayment Period in
        which
        such Final Recovery Determination was made, plus (iv) any amounts previously
        withdrawn from the Collection Account in respect of the related Mortgage
        Loan
        pursuant to Section 3.11(a)(ix) and Section 3.16(b), minus (v) the aggregate
        of
        all Servicing Advances made by the Servicer in respect of such REO Property
        or
        the related Mortgage Loan (without duplication of amounts netted out of the
        rental income, Insurance Proceeds and Liquidation Proceeds described in clause
        (vi) below) and any unpaid Servicing Fees for which the Servicer has been
        or, in
        connection with such Final Recovery Determination, will be reimbursed pursuant
        to Section 3.11(a)(iii) or Section 3.23 out of rental income, Insurance Proceeds
        and Liquidation Proceeds received in respect of such REO Property, minus
        (vi)
        the total of all net rental income, Insurance Proceeds and Liquidation Proceeds
        received in respect of such REO Property that has been, or in connection
        with
        such Final Recovery Determination, will be transferred to the Distribution
        Account pursuant to Section 3.23.

       

      With
        respect to each Mortgage Loan which has become the subject of a Deficient
        Valuation, the difference between the principal balance of the Mortgage Loan
        outstanding immediately prior to such Deficient Valuation and the principal
        balance of the Mortgage Loan as reduced by the Deficient Valuation.

       

      With
        respect to each Mortgage Loan which has become the subject of a Debt Service
        Reduction, the portion, if any, of the reduction in each affected Monthly
        Payment attributable to a reduction in the Mortgage Rate imposed by a court
        of
        competent jurisdiction. Each such Realized Loss shall be deemed to have been
        incurred on the Due Date for each affected Monthly Payment.

       

      “Record
        Date”: With respect to each Distribution Date and any Floating Rate Certificate
        so long as such Floating Rate Certificates is a Book-Entry Certificate, the
        Business Day immediately preceding such Distribution Date. With respect to
        each
        Distribution Date and any other Certificates, including any Definitive
        Certificates, the last Business Day of the month immediately preceding the
        month
        in which such Distribution Date occurs.

       

      “Refinanced
        Mortgage Loan”: A Mortgage Loan the proceeds of which were not used to purchase
        the related Mortgaged Property.

       

      “Regular
        Certificate”: Any Class A Certificate, Mezzanine Certificate, Class CE
        Certificate or Class P Certificate.

       

      “Regular
        Interest”: A “regular interest” in a REMIC within the meaning of Section
        860G(a)(1) of the Code.

       

      “Relief
        Act”: The Servicemembers Civil Relief Act, or any state law providing for
        similar relief.

       

      “Relief
        Act Interest Shortfall”: With respect to any Distribution Date and any Mortgage
        Loan, any reduction in the amount of interest collectible on such Mortgage
        Loan
        for the most recently ended calendar month as a result of the application
        of the
        Relief Act.

       

      “REMIC”:
        A “real estate mortgage investment conduit” within the meaning of Section 860D
        of the Code.

       

      “REMIC
        I”: The segregated pool of assets subject hereto, constituting the primary
        trust
        created hereby and to be administered hereunder, with respect to which a
        REMIC
        election is to be made, consisting of: (i) such Mortgage Loans and Prepayment
        Charges related thereto as from time to time are subject to this Agreement,
        together with the Mortgage Files relating thereto, and together with all
        collections thereon and proceeds thereof; (ii) any REO Property, together
        with
        all collections thereon and proceeds thereof; (iii) the Trustee’s rights with
        respect to the Mortgage Loans under all insurance policies required to be
        maintained pursuant to this Agreement and any proceeds thereof; (iv) the
        Depositor’s rights under the Assignment Agreement (including any security
        interest created thereby); and (v) the Collection Account (other than any
        amounts representing the Servicer Prepayment Charge Payment Amount), the
        Distribution Account (other than any amounts representing the Servicer
        Prepayment Charge Payment Amount) and any REO Account, and such assets that
        are
        deposited therein from time to time and any investments thereof, together
        with
        any and all income, proceeds and payments with respect thereto. Notwithstanding
        the foregoing, however, REMIC I specifically excludes all payments and other
        collections of principal and interest due on the Mortgage Loans on or before
        the
        Cut-off Date, all Prepayment Charges payable in connection with Principal
        Prepayments on the Mortgage Loans made before the Cut-off Date, the Net WAC
        Rate
        Carryover Reserve Account, the Interest Rate Cap Agreement, the Cap Account,
        the
        Cap Administration Agreement and Servicer Prepayment Charge Payment
        Amounts.

       

      “REMIC
        I
        Regular Interest”: Any of the separate non-certificated beneficial ownership
        interests in REMIC I issued hereunder and designated as a “regular interest” in
        REMIC I. Each REMIC I Regular Interest shall accrue interest at the related
        REMIC I Remittance Rate in effect from time to time, and shall be entitled
        to
        distributions of principal, subject to the terms and conditions hereof, in
        an
        aggregate amount equal to its initial Uncertificated Balance as set forth
        in the
        Preliminary Statement hereto. 

       

      “REMIC
        I
        Interest Loss Allocation Amount”: With respect to any Distribution Date, an
        amount equal to (a) the product of (i) the aggregate Stated Principal Balance
        of
        the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC
        I
        Remittance Rate for REMIC I Regular Interest LTAA minus the Marker Rate,
        divided
        by (b) 12.

       

      “REMIC
        I
        Overcollateralized Amount”: With respect to any date of determination, (i) 1.00%
        of the aggregate Uncertificated Balance of the REMIC I Regular Interests
        (other
        than REMIC I Regular Interest LTP) minus (ii) the aggregate Uncertificated
        Balance of REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2,
        REMIC I
        Regular Interest LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest
        LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC
        I
        Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest
        LTM6, REMIC I Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC
        I
        Regular Interest LTM9 and REMIC I Regular Interest LTM10, in each case as
        of
        such date of determination.

       

      “REMIC
        I
        Principal Loss Allocation Amount”: With respect to any Distribution Date, an
        amount equal to the product of (i) 50% of the aggregate Stated Principal
        Balance
        of the Mortgage Loans and REO Properties then outstanding and (ii) 1 minus
        a
        fraction, the numerator of which is two times the aggregate Uncertificated
        Balance of REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2,
        REMIC I
        Regular Interest LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest
        LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC
        I
        Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest
        LTM6, REMIC I Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC
        I
        Regular Interest LTM9, REMIC I Regular Interest LTM10 and the denominator
        of
        which is the aggregate Uncertificated Balance of REMIC I Regular Interest
        LTA1,
        REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular
        Interest LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2,
        REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular
        Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7,
        REMIC I Regular Interest LTM8, REMIC I Regular Interest LTM9, REMIC I Regular
        Interest LTM10 and REMIC I Regular Interest LTZZ.

       

      “REMIC
        I
        Remittance Rate”: With respect to REMIC I Regular Interest LTAA, REMIC I Regular
        Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3,
        REMIC I Regular Interest LTA4, REMIC I Regular Interest LTM1, REMIC I Regular
        Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4,
        REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular
        Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest LTM9,
        REMIC I Regular Interest LTM10 and REMIC I Regular Interest I-LTZZ, the weighted
        average of the Expense Adjusted Mortgage Rates of the Mortgage
        Loans.

       

      “REMIC
        I
        Required Overcollateralized Amount”: 1.00% of the Overcollateralization Target
        Amount.

       

      “REMIC
        II”: The segregated pool of assets consisting of all of the REMIC I Regular
        Interests conveyed in trust to the Trustee, for the benefit of the Class
        A
        Certificates, the Mezzanine Certificates, the Class CE Interest, the Class
        P
        Interest and the Class R-II Interest and all amounts deposited therein, with
        respect to which a separate REMIC election is to be made.

       

      “REMIC
        III”: The segregated pool of assets consisting of all of the Class CE Interest
        conveyed in trust to the Trust Administrator, for the benefit of the Class
        CE
        Certificates, and the Class R-III Interest and all amounts deposited therein,
        with respect to which a separate REMIC election is to be made.

       

      “REMIC
        IV”: The segregated pool of assets consisting of all of the Class P Interest
        conveyed in trust to the Trust Administrator, for the benefit of the Class
        P
        Certificates, and the Class R-IV Interest and all amounts deposited therein,
        with respect to which a separate REMIC election is to be made.

       

      “REMIC
        Provisions”: Provisions of the federal income tax law relating to real estate
        mortgage investment conduits, which appear at Section 860A through 860G of
        the
        Code, and related provisions, and proposed, temporary and final regulations
        and
        published rulings, notices and announcements promulgated thereunder, as the
        foregoing may be in effect from time to time.

       

      “REMIC
        Regular Interests”: The REMIC I Regular Interests, the Class CE Interest and the
        Class P Interest.

       

      “Remittance
        Report”: A report in form and substance acceptable to the Trust Administrator
        and the Servicer in an electronic data file prepared by the Servicer pursuant
        to
        Section 4.03 with such additions, deletions and modifications as agreed to
        by
        the Trust Administrator and the Servicer.

       

      “Rents
        from Real Property”: With respect to any REO Property, gross income of the
        character described in Section 856(d) of the Code as being included in the
        term
“rents from real property.”

       

      “REO
        Account”: The account or accounts maintained by the Servicer in respect of an
        REO Property pursuant to Section 3.23.

       

      “REO
        Disposition”: The sale or other disposition of an REO Property on behalf of any
        Trust REMIC.

       

      “REO
        Imputed Interest”: As to any REO Property, for any calendar month during which
        such REO Property was at any time part of REMIC I, one month’s interest at the
        applicable Mortgage Loan Remittance Rate on the Stated Principal Balance
        of such
        REO Property (or, in the case of the first such calendar month, of the related
        Mortgage Loan if appropriate) as of the close of business on the Distribution
        Date in such calendar month.

       

      “REO
        Property”: A Mortgaged Property acquired by the Servicer on behalf of the Trust
        Fund through foreclosure or deed-in-lieu of foreclosure, as described in
        Section
        3.23.

       

      “Request
        for Release”: A release signed by a Servicing Officer, in the form of Exhibit E
        attached hereto.

       

      “Residential
        Dwelling”: Any one of the following: (i) an attached or detached one- family
        dwelling, (ii) a detached two- to four-family dwelling, (iii) a one-family
        dwelling unit in a Fannie Mae eligible condominium project, or (iv) a detached
        one-family dwelling in a planned unit development, none of which is a
        co-operative, mobile or manufactured home (as defined in 42 United States
        Code,
        Section 5402(6)).

       

      “Residual
        Certificates”: The Class R Certificates and the Class R-X
        Certificates.

       

      “Residual
        Interest”: The sole class of “residual interests” in a REMIC within the meaning
        of Section 860G(a)(2) of the Code.

       

      “Responsible
        Officer”: When used with respect to the Trust Administrator, the President, any
        vice president, any assistant vice president, the Secretary, any assistant
        secretary, the Treasurer, any assistant treasurer, any trust officer or
        assistant trust officer, the Controller and any assistant controller or any
        other officer thereof customarily performing functions similar to those
        performed by any of the above designated officers and, with respect to a
        particular matter relating to this Agreement, to whom such matter is referred
        because of such officer’s knowledge of and familiarity with the particular
        subject. When used with respect to the Trustee, any officer of the Trustee
        with
        direct responsibility for the administration of this Agreement and, with
        respect
        to a particular matter relating to this Agreement, to whom such matter is
        referred because of such officer’s knowledge of and familiarity with the
        particular subject.

       

      “Reuters
        Screen LIBOR01 Page”: The display page currently so designated on the Reuters
        Monitor Money Rates Service (or such other page as may replace that page
        on that
        service for the purpose of displaying comparable rates or prices)

       

      “S&P”:
        Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
        Inc., or its successors in interest.

       

      “Scheduled
        Principal Balance”: With respect to any Mortgage Loan: (a) as of the Cut-off
        Date, the outstanding principal balance of such Mortgage Loan as of such
        date,
        net of the principal portion of all unpaid Monthly Payments, if any, due
        on or
        before such date; (b) as of any Due Date subsequent to the Cut-off Date up
        to
        and including the Due Date in the calendar month in which a Liquidation Event
        occurs with respect to such Mortgage Loan, the Scheduled Principal Balance
        of
        such Mortgage Loan as of the Cut-off Date, minus the sum of (i) the principal
        portion of each Monthly Payment due on or before such Due Date but subsequent
        to
        the Cut-off Date, whether or not received, (ii) all Principal Prepayments
        received before such Due Date but after the Cut-off Date, (iii) the principal
        portion of all Liquidation Proceeds and Insurance Proceeds received before
        such
        Due Date but after the Cut-off Date, net of any portion thereof that represents
        principal due (without regard to any acceleration of payments under the related
        Mortgage and Mortgage Note) on a Due Date occurring on or before the date
        on
        which such proceeds were received and (iv) any Realized Loss incurred with
        respect thereto as a result of a Deficient Valuation occurring before such
        Due
        Date, but only to the extent such Realized Loss represents a reduction in
        the
        portion of principal of such Mortgage Loan not yet due (without regard to
        any
        acceleration of payments under the related Mortgage and Mortgage Note) as
        of the
        date of such Deficient Valuation; and (c) as of any Due Date subsequent to
        the
        occurrence of a Liquidation Event with respect to such Mortgage Loan, zero.
        With
        respect to any REO Property: (a) as of any Due Date subsequent to the date
        of
        its acquisition on behalf of the Trust Fund up to and including the Due Date
        in
        the calendar month in which a Liquidation Event occurs with respect to such
        REO
        Property, an amount (not less than zero) equal to the Scheduled Principal
        Balance of the related Mortgage Loan as of the Due Date in the calendar month
        in
        which such REO Property was acquired minus the principal portion of each
        Monthly
        Payment that would have become due on such related Mortgage Loan after such
        REO
        Property was acquired if such Mortgage Loan had not been converted to an
        REO
        Property; and (b) as of any Due Date subsequent to the occurrence of a
        Liquidation Event with respect to such REO Property, zero.

       

      “Senior
        Enhancement Percentage”: For any Distribution Date, the percentage equivalent of
        a fraction, the numerator of which is the sum of the aggregate Certificate
        Principal Balance of the Mezzanine, Class CE and Class P Certificates,
        calculated after taking into account distribution of the Principal Distribution
        Amount to the Certificates then entitled to distributions of principal on
        such
        Distribution Date, and the denominator of which is the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period).
        

       

      “Senior
        Interest Distribution Amount”: With respect to any Distribution Date and each
        Class of Class A Certificates, an amount equal to the sum of (i) the Interest
        Distribution Amount for such Distribution Date and (ii) the Interest Carry
        Forward Amount, if any, for such Distribution Date.

       

      “Senior
        Principal Distribution Amount”: With respect to any Distribution Date, the
        excess of (x) the aggregate Certificate Principal Balance of the Class A
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) approximately 52.10% and (ii) the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Due
        Period (after giving effect to scheduled payments of principal due during
        the
        related Due Period, to the extent received or advanced, and unscheduled
        collections of principal received during the related Prepayment Period) and
        (B)
the
        excess, if any, of (i) the aggregate Stated Principal Balance of the Mortgage
        Loans as of the last day of the related Due Period (after giving effect to
        scheduled payments of principal due during the related Due Period, to the
        extent
        received or advanced, and unscheduled collections of principal received during
        the related Prepayment Period) over (ii) 0.50% of the aggregate Stated Principal
        Balance of the Mortgage Loans as of the Cut-off Date.

       

      “Servicer”:
        Wells Fargo Bank, N.A. or any successor Servicer appointed as herein provided,
        each in its capacity as a Servicer hereunder.

       

      “Servicer
        Event of Default”: One or more of the events described in Section
        7.01.

       

      “Servicer
        Prepayment Charge Payment Amount”: The amounts payable by the Servicer in
        respect of any waived Prepayment Charges pursuant to Section 3.01.

       

      “Servicer
        Remittance Date”: With respect to any Distribution Date, the 18th
        day of
        the calendar month in which such Distribution Date occurs or, if such
        18th
        day is
        not a Business Day, the Business Day immediately following.

       

      “Servicing
        Account”: The account or accounts created and maintained pursuant to Section
        3.09.

       

      “Servicing
        Advances”: The reasonable “out-of-pocket” costs and expenses incurred by the
        Servicer in connection with a default, delinquency or other unanticipated
        event
        by the Servicer in the performance of its servicing obligations, including,
        but
        not limited to, the cost of (i) the preservation, restoration and protection
        of
        a Mortgaged Property, (ii) any enforcement or judicial proceedings, including
        foreclosures, in respect of a particular Mortgage Loan, including any expenses
        incurred in relation to any such proceedings that result from the Mortgage
        Loan
        being registered on the MERS System, (iii) the management (including reasonable
        fees in connection therewith) and liquidation of any REO Property, (iv) the
        performance of its obligations under Section 3.01, Section 3.09, Section
        3.13,
        Section 3.14, Section 3.16 and Section 3.23. Servicing Advances shall also
        include any reasonable “out-of-pocket” costs and expenses (including legal fees)
        incurred by the Servicer in connection with executing and recording instruments
        of satisfaction, deeds of reconveyance or Assignments of Mortgage in connection
        with any foreclosure in respect of any Mortgage Loan to the extent not recovered
        from the related Mortgagor or otherwise payable under this Agreement. The
        Servicer shall not be required to make any Servicing Advance in respect of
        a
        Mortgage Loan or REO Property that, in the good faith business judgment of
        the
        Servicer, would not be ultimately recoverable from related Insurance Proceeds or
        Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.
        The Servicer shall not be required to make any Servicing Advance that would
        be a
        Nonrecoverable Advance.

       

      “Servicing
        Fee”: With
        respect to each Mortgage Loan, the amount of the annual fee paid to the
        Servicer, which shall, for a period of one full month, be equal to one-twelfth
        of the product of (a) the Servicing Fee Rate (without regard to the words
        "per
        annum") and (b) the outstanding principal balance of such Mortgage Loan.
        Such
        fee shall be payable monthly, computed on the basis of the same principal
        amount
        and period respecting which any related interest payment on a Mortgage Loan
        is
        received. The obligation for payment of the Servicing Fee is limited to,
        and the
        Servicing Fee is payable solely from, the interest portion (including recoveries
        with respect to interest from Liquidation Proceeds) of such Monthly Payment
        collected by the Servicer, or as otherwise provided under Section
        3.11.

       

      “Servicing
        Fee Rate”: With respect to each Mortgage Loan, the rate of 0.50% per
        annum.

       

      “Servicing
        Officer”: Any employee of the Servicer involved in, or responsible for, the
        administration and servicing of the Mortgage Loans, whose name appear on
        a list
        of Servicing Officers furnished by the Servicer to the Trustee, the Trust
        Administrator and the Depositor on the Closing Date, as such list may from
        time
        to time be amended.

       

      “Significance
        Percentage”: With respect to the Interest Rate Cap Agreement, the percentage
        equivalent of a fraction, the numerator of which is (I) the present value
        (such
        calculation of present value using the two-year swaps rate made available
        at
        Bloomberg Financial Markets, L.P.) of the aggregate amount payable under
        the
        Interest Rate Cap Agreement (assuming that one-month LIBOR for each remaining
        Calculation Period (as defined in the Interest Rate Cap Agreement) beginning
        with the Calculation Period immediately following the related Distribution
        Date
        is equal to the sum of (a) the one-month LIBOR rate for each remaining
        Calculation Period made available at Bloomberg Financial Markets, L.P. by
        taking
        the following steps: (1) typing in the following keystrokes: fwcv <go>, us
<go>, 3 <go>; (2) the Forwards shall be set to “1-Mo”; (3) the
        Intervals shall be set to “1-Mo”; and (4) the Points shall be set to equal the
        remaining term of the Interest Rate Cap Agreement in months and the Trust
        Administrator shall click <go> (provided that the Depositor shall notify
        the Trust Administrator in writing of any changes to such keystrokes), (b)
        the
        percentage equivalent of a fraction, the numerator of which is 2.00% and
        the
        denominator of which is the initial number of Distribution Dates on which
        the
        Trust Administrator is entitled to receive payments under the Interest Rate
        Cap
        Agreement (the “Add-On Amount”) and (c) the Add-On Amount for each previous
        period) and the denominator of which is (II) the aggregate Certificate Principal
        Balance of the Class A Certificates and the Mezzanine Certificates on such
        Distribution Date (after giving effect to all distributions on such Distribution
        Date).

       

      “Single
        Certificate”: With respect to any Class of Certificates (other than the Residual
        Certificates), a hypothetical Certificate of such Class evidencing a Percentage
        Interest for such Class corresponding to an initial Certificate Principal
        Balance or Notional Amount of $1,000. With respect to the Class P and the
        Residual Certificates, a hypothetical Certificate of such Class evidencing
        a 20%
        Percentage Interest in such Class.

       

      “Sponsor”:
        Citigroup Global Markets Realty Corp. or its successor in interest.

       

      “Startup
        Day”: With respect to any Trust REMIC, the day designated as such pursuant to
        Section 10.01(b) hereof.

       

      “Stated
        Principal Balance”: With respect to any Mortgage Loan: (a) as of any date of
        determination up to but not including the Distribution Date on which the
        proceeds, if any, of a Liquidation Event with respect to such Mortgage Loan
        would be distributed, the Scheduled Principal Balance of such Mortgage Loan
        as
        of the Cut-off Date, as shown in the Mortgage Loan Schedule, minus the sum
        of
        (i) the principal portion of each Monthly Payment due on a Due Date subsequent
        to the Cut-off Date, to the extent received from the Mortgagor or advanced
        by
        the Servicer and distributed pursuant to Section 4.01 on or before such date
        of
        determination, (ii) all Principal Prepayments received after the Cut-off
        Date,
        to the extent distributed pursuant to Section 4.01 on or before such date
        of
        determination, (iii) all Liquidation Proceeds and Insurance Proceeds applied
        by
        the Servicer as recoveries of principal in accordance with the provisions
        of
        Section 3.16, to the extent distributed pursuant to Section 4.01 on or before
        such date of determination, and (iv) any Realized Loss incurred with respect
        thereto as a result of a Deficient Valuation made during or prior to the
        Prepayment Period for the most recent Distribution Date coinciding with or
        preceding such date of determination; and (b) as of any date of determination
        coinciding with or subsequent to the Distribution Date on which the proceeds,
        if
        any, of a Liquidation Event with respect to such Mortgage Loan would be
        distributed, zero. With respect to any REO Property: (a) as of any date of
        determination up to but not including the Distribution Date on which the
        proceeds, if any, of a Liquidation Event with respect to such REO Property
        would
        be distributed, an amount (not less than zero) equal to the Stated Principal
        Balance of the related Mortgage Loan as of the date on which such REO Property
        was acquired on behalf of the Trust Fund, minus, the principal portion of
        Monthly Payments that would have become due on such related Mortgage Loan
        after
        such REO Property was acquired if such Mortgage Loan had not been converted
        to
        an REO Property, to the extent advanced by the Servicer and distributed pursuant
        to Section 4.01 on or before such date of determination; and (b) as of any
        date
        of determination coinciding with or subsequent to the Distribution Date on
        which
        the proceeds, if any, of a Liquidation Event with respect to such REO Property
        would be distributed, zero.

       

      “Stayed
        Funds”: If the Servicer is the subject of a proceeding under the federal
        Bankruptcy Code and the making of any payment required to be made under the
        terms of the Certificates and this Agreement is prohibited by Section 362
        of the
        federal Bankruptcy Code, funds which are in the custody of the Servicer,
        a
        trustee in bankruptcy or a federal bankruptcy court and should have been
        the
        subject of such Remittance absent such prohibition.

       

      “Stepdown
        Date”: The earlier to occur of (i) the Distribution Date immediately following
        the Distribution Date on which the aggregate Certificate Principal Balance
        of
        the Class A Certificates has been reduced to zero and (ii) the later to occur
        of
        (a) the Distribution Date occurring in April 2010 and (b) the first Distribution
        Date on which the Senior Enhancement Percentage (calculated for this purpose
        only after taking into account distributions of principal on the Mortgage
        Loans
        but prior to any distribution of the Principal Distribution Amount to the
        Certificates then entitled to distributions of principal on such Distribution
        Date) is equal to or greater than 47.90%.

       

      “Sub-Servicer”:
        Any Person with which the Servicer has entered into a Sub- Servicing Agreement
        and which meets the qualifications of a Sub-Servicer pursuant to Section
        3.02.

       

      “Sub-Servicing
        Account”: An account established by a Sub-Servicer which meets the requirements
        set forth in Section 3.08 and is otherwise acceptable to the
        Servicer.

       

      “Sub-Servicing
        Agreement”: The written contract between the Servicer and a Sub-Servicer
        relating to servicing and administration of certain Mortgage Loans as provided
        in Section 3.02.

       

      “Subsequent
        Recoveries”: As of any Distribution Date, amounts received by the Trust Fund
        (net of any related expenses permitted to be reimbursed to the related
        Sub-Servicer or the Servicer from such amounts under the related Sub-Servicing
        Agreement or hereunder) specifically related to a Mortgage Loan that was
        the
        subject of a liquidation or an REO Disposition prior to the related Prepayment
        Period that resulted in a Realized Loss.

       

      “Substitution
        Shortfall Amount”: As defined in Section 2.03(d) hereof.

       

      “Tax
        Returns”: The federal income tax return on Internal Revenue Service Form 1066,
        U.S. Real Estate Mortgage Investment Conduit Income Tax Return, including
        Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC
        Taxable Income or Net Loss Allocation, or any successor forms, to be filed
        on
        behalf of any Trust REMIC due to its classification as a REMIC under the
        REMIC
        Provisions, together with any and all other information reports or returns
        that
        may be required to be furnished to the Certificateholders or filed with the
        Internal Revenue Service or any other governmental taxing authority under
        any
        applicable provisions of federal, state or local tax laws.

       

      “Termination
        Price”: As defined in Section 9.01.

       

      “Terminator”:
        As defined in Section 9.01.

       

      “Transfer”:
        Any direct or indirect transfer, sale, pledge, hypothecation, or other form
        of
        assignment of any Ownership Interest in a Certificate.

       

      “Transferee”:
        Any Person who is acquiring by Transfer any Ownership Interest in a
        Certificate.

       

      “Transferor”:
        Any Person who is disposing by Transfer of any Ownership Interest in a
        Certificate.

       

      “Trigger
        Event”: A Trigger Event is in effect on any Distribution Date on or after the
        Stepdown Date if:

       

      (a)  the
        Delinquency Percentage exceeds 33.40% of the Senior Enhancement Percentage
        for
        the prior Distribution Date; or

       

      (b)  the
        aggregate amount of Realized Losses incurred since the Cut-off Date through
        the
        last day of the related Due Period (reduced by the aggregate amount of
        Subsequent Recoveries received since the Cut-off Date through the last day
        of
        the related Due Period) divided by aggregate Stated Principal Balance of
        the
        Mortgage Loans as of the Cut-off Date exceeds the applicable percentages
        set
        forth below with respect to such Distribution Date:

       

      
        	
                Distribution
                  Date Occurring In

              	 	
                Percentage

              
	
                April
                  2009 through March 2010

              	 	
                1.45%

              
	
                April
                  2010 through March 2011

              	 	
                3.30%

              
	
                April
                  2011 through March 2012

              	 	
                5.15%

              
	
                April
                  2012 through March 2013

              	 	
                6.60%

              
	
                April
                  2013 and thereafter

              	 	
                7.45%

              

      

      

      “Trust”:
        Citigroup Mortgage Loan Trust 2007-WFHE2.

       

      “Trust
        Administrator”: Citibank, N.A., or its successor in interest, or any successor
        trust administrator appointed as herein provided.

       

      “Trust
        Fund”: Collectively, all of the assets of each Trust REMIC, the Net WAC Rate
        Carryover Reserve Account, distributions made to the Trust Administrator
        by the
        Cap Administrator under the Cap Administration Agreement, the Cap Account,
        Servicer Prepayment Charge Payment Amounts and the other assets conveyed
        by the
        Depositor to the Trustee pursuant to Section 2.01.

       

      “Trust
        REMIC”: Any of REMIC I, REMIC II, REMIC III and REMIC IV.

       

      “Trustee”:
        U.S. Bank National Association, or its successor in interest, or any successor
        trustee appointed as herein provided.

       

      “Uncertificated
        Balance”: The amount of any REMIC Regular Interest outstanding as of any date of
        determination. As of the Closing Date, the Uncertificated Balance of each
        REMIC
        Regular Interest shall equal the amount set forth in the Preliminary Statement
        hereto as its initial Uncertificated Balance. On each Distribution Date,
        the
        Uncertificated Balance of each REMIC Regular Interest shall be reduced by
        all
        distributions of principal made on such REMIC Regular Interest on such
        Distribution Date pursuant to Section 4.01 and, if and to the extent necessary
        and appropriate, shall be further reduced on such Distribution Date by Realized
        Losses as provided in Section 4.04. The Uncertificated Balance of REMIC I
        Regular Interest LTZZ shall be increased by interest deferrals as provided
        in
        Section 4.01. With respect to the Class CE Interest as of any date of
        determination, an amount equal to the excess, if any, of (A) the then aggregate
        Uncertificated Principal Balance of the REMIC I Regular Interests over (B)
        the
        then aggregate Certificate Principal Balance of the Floating Rate Certificates
        and the Class P Certificates then outstanding. The Uncertificated Principal
        Balance of each REMIC Regular Interest that has an Uncertificated Principal
        Balance shall never be less than zero.

       

      “Uncertificated
        Interest”: With respect to any REMIC Regular Interest for any Distribution Date,
        one month’s interest at the related REMIC Remittance Rate applicable to such
        REMIC Regular Interest for such Distribution Date, accrued on the Uncertificated
        Balance thereof immediately prior to such Distribution Date. Uncertificated
        Interest in respect of any REMIC Regular Interest shall accrue on the basis
        of a
        360-day year consisting of twelve 30-day months. Uncertificated Interest
        with
        respect to each Distribution Date, as to any REMIC Regular Interest, shall
        be
        reduced by an amount equal to the sum of (a) the aggregate Prepayment Interest
        Shortfall, if any, for such Distribution Date to the extent not covered by
        payments pursuant to Section 3.24 and (b) the aggregate amount of any Relief
        Act
        Interest Shortfall, if any allocated, in each case, to such REMIC Regular
        Interest pursuant to Section 1.02. In addition, Uncertificated Interest with
        respect to each Distribution Date, as to any REMIC Regular Interest shall
        be
        reduced by Realized Losses, if any, allocated to such REMIC Regular Interest
        pursuant to Section 1.02 and Section 4.04.

       

      “Uninsured
        Cause”: Any cause of damage to a Mortgaged Property such that the complete
        restoration of such property is not fully reimbursable by the hazard insurance
        policies required to be maintained pursuant to Section 3.14.

       

      “United
        States Person”: A citizen or resident of the United States, a corporation,
        partnership or other entity created or organized in, or under the laws of,
        the
        United States, any State thereof or the District of Columbia (except, in
        the
        case of a partnership, to the extent provided in regulations); provided that,
        for purposes solely of the restrictions on the transfer of the Residual
        Certificates, no partnership or other entity treated as a partnership for
        United
        States federal income tax purposes shall be treated as a United States Person
        unless all persons that own an interest in such partnership either directly
        or
        through any entity that is not a corporation for United States federal income
        tax purposes are required by the applicable operative agreement to be United
        States Persons, or an estate whose income is subject to United States federal
        income tax regardless of its source, or a trust if a court within the United
        States is able to exercise primary supervision over the administration of
        the
        trust and one or more United States Persons have the authority to control
        all
        substantial decisions of the trust. To the extent prescribed in regulations
        by
        the Secretary of the Treasury, which have not yet been issued, a trust which
        was
        in existence on August 20, 1996 (other than a trust treated as owned by the
        grantor under subpart E of part I of subchapter J of chapter 1 of the Code),
        and
        which was treated as a United States person on August 20, 1996 may elect
        to
        continue to be treated as a United States person notwithstanding the previous
        sentence. The term “United States” shall have the meaning set forth in Section
        7701 of the Code.

       

      “Value”:
        With respect to any Mortgaged Property, the lesser of (i) the value thereof
        as
        determined by an appraisal made for the originator of the Mortgage Loan at
        the
        time of origination of the Mortgage Loan and (ii) the purchase price paid
        for
        the related Mortgaged Property by the Mortgagor with the proceeds of the
        Mortgage Loan, provided, however, in the case of a Refinanced Mortgage Loan,
        such value of the Mortgaged Property is based solely upon the value determined
        by an appraisal made for the originator of such Refinanced Mortgage Loan
        at the
        time of origination of such Refinanced Mortgage Loan by an
        appraiser.

       

      “Voting
        Rights”: The portion of the voting rights of all of the Certificates which is
        allocated to any Certificate. With respect to any date of determination,
        98% of
        all Voting Rights will be allocated among the holders of the Floating Rate
        Certificates and the Class CE Certificates in proportion to the then outstanding
        Certificate Principal Balances of their respective Certificates, 1% of all
        Voting Rights will be allocated to the holders of the Class P Certificates
        and
        1% of all Voting Rights will be allocated among the holders of the Residual
        Certificates. The Voting Rights allocated to each Class of Certificate shall
        be
        allocated among Holders of each such Class in accordance with their respective
        Percentage Interests as of the most recent Record Date.

       

      
        	
              	SECTION
                1.02	
                Allocation
                  of Certain Interest Shortfalls.

              

      

       

      For
        purposes of calculating the Interest Distribution Amount for the Floating
        Rate
        Certificates and the Class CE Certificates for any Distribution Date, the
        aggregate amount of any Prepayment Interest Shortfalls (to the extent not
        covered by payments by the Servicer pursuant to Section 3.24) and any Relief
        Act
        Interest Shortfalls incurred in respect of the Mortgage Loans for any
        Distribution Date shall be allocated first, to the Class CE Certificates
        based
        on, and to the extent of, one month’s interest at the then applicable
        Pass-Through Rate on the Notional Amount of the Class CE Certificates and,
        thereafter, among the Floating Rate Certificates on a pro
        rata
        basis
        based on, and to the extent of, one month’s interest at the then applicable
        respective Pass-Through Rate on the respective Certificate Principal Balance
        of
        each such Certificate immediately prior to such Distribution Date.

       

      For
        purposes of calculating the amount of Uncertificated Interest for the REMIC
        I
        Regular Interests for any Distribution Date, the aggregate amount of any
        Prepayment Interest Shortfalls (to the extent not covered by payments by
        the
        Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls
        incurred in respect of the Mortgage Loans for any Distribution Date shall
        be
        allocated among REMIC I Regular Interest LTAA, REMIC I Regular Interest LTA1,
        REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular
        Interest LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2,
        REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular
        Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7,
        REMIC I Regular Interest LTM8, REMIC I Regular Interest LTM9, REMIC I Regular
        Interest LTM10 and REMIC I Regular Interest LTZZ pro
        rata
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        REMIC I Remittance Rate on the respective Uncertificated Balance of each
        such
        REMIC I Regular Interest.

       

      ARTICLE
        II  

       

      CONVEYANCE
        OF MORTGAGE LOANS;

      ORIGINAL
        ISSUANCE OF CERTIFICATES

       

      
        	
              	SECTION
                2.01	
                Conveyance
                  of Mortgage Loans.

              

      

       

      The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey to the Trustee without recourse
        for the benefit of the Certificateholders all the right, title and interest
        of
        the Depositor, including any security interest therein for the benefit of
        the
        Depositor, in and to the Mortgage Loans identified on the Mortgage Loan
        Schedule, the rights of the Depositor under the Assignment Agreement, payments
        made to the Trust Administrator by the Cap Administrator under the Cap
        Administration Agreement and the Cap Account and all other assets included
        or to
        be included in REMIC I. Such assignment includes all interest and principal
        received by the Depositor or the Servicer on or with respect to the Mortgage
        Loans (other than payments of principal and interest due on such Mortgage
        Loans
        on or before the Cut-off Date). The Depositor herewith delivers to the Trust
        Administrator on behalf of the Trustee executed copies of the Assignment
        Agreement and the PMI Policy, and the Trustee and the Trust Administrator
        acknowledge receipt of the same on behalf of the
        Certificateholders.

       

      In
        connection with such transfer and assignment, the Depositor does hereby deliver
        to, and deposit with, the Trustee or the Custodian on its behalf, the following
        documents or instruments (a “Mortgage File”) with respect to each Mortgage Loan
        so transferred and assigned:

       

      (i)  The
        Mortgage Note, endorsed by manual or facsimile signature without recourse
        by the
        Originator or an Affiliate of the Originator in blank or to the Trustee showing
        a complete chain of endorsements from the named payee to the Trustee or from
        the
        named payee to the Affiliate of the Originator and from such Affiliate to
        the
        Trustee;

       

      (ii)  The
        original recorded Mortgage, noting the presence of the MIN of the Mortgage
        Loan,
        if applicable, and language indicating that the Mortgage Loan is a MOM Loan
        if
        the Mortgage Loan is a MOM Loan, with evidence of recording thereon or a
        copy of
        the Mortgage certified by the public recording office in those jurisdictions
        where the public recording office retains the original;

       

      (iii)  Unless
        the Mortgage Loan is registered on the MERS® System, an assignment from the
        Originator or an Affiliate of the Originator to the Trustee in recordable
        form
        of the Mortgage which may be included, where permitted by local law, in a
        blanket assignment or assignments of the Mortgage to the Trustee, including
        any
        intervening assignments and showing a complete chain of title from the original
        mortgagee named under the Mortgage to the Person assigning the Mortgage Loan
        to
        the Trustee (or to MERS, noting the presence of the MIN, if the Mortgage
        Loan is
        registered on the MERS® System);

       

      (iv)  Any
        original assumption, modification, buydown or conversion-to- fixed-interest-rate
        agreement applicable to the Mortgage Loan; and

       

      (v)  The
        original or a copy of the title insurance policy (which may be a certificate
        or
        a short form policy relating to a master policy of title insurance) pertaining
        to the Mortgaged Property, or in the event such original title policy is
        unavailable, a copy of the preliminary title report and the lender’s recording
        instructions, with the original to be delivered within 180 days of the Closing
        Date or an attorney’s opinion of title in jurisdictions where such is the
        customary evidence of title.

       

      In
        instances where an original recorded Mortgage cannot be delivered by the
        Depositor to the Trustee (or the Custodian on behalf of the Trustee) prior
        to or
        concurrently with the execution and delivery of this Agreement, due to a
        delay
        in connection with the recording of such Mortgage, the Depositor may, (a)
        in
        lieu of delivering such original recorded Mortgage referred to in clause
        (ii)
        above, deliver to the Trustee (or the Custodian on behalf of the Trustee)
        a copy
        thereof, provided that the Depositor certifies that the original Mortgage
        has
        been delivered to a title insurance company for recordation after receipt
        of its
        policy of title insurance or binder therefor (which may be a certificate
        relating to a master policy of title insurance), and (b) in lieu of delivering
        the completed assignment in recordable form referred to in clause (iii) above
        to
        the Trustee (or the Custodian on behalf of the Trustee), deliver such assignment
        to the Trustee (or the Custodian on behalf of the Trustee) completed except
        for
        recording information. In all such instances, the Depositor will deliver
        the
        original recorded Mortgage and completed assignment (if applicable) to the
        Trustee (or the Custodian on behalf of the Trustee) promptly upon receipt
        of
        such Mortgage. In instances where an original recorded Mortgage has been
        lost or
        misplaced, the Depositor or the related title insurance company may deliver,
        in
        lieu of such Mortgage, a copy of such Mortgage bearing recordation information
        and certified as true and correct by the office in which recordation thereof
        was
        made. In instances where the original or a copy of the title insurance policy
        referred to in clause (vi) above (which may be a certificate relating to
        a
        master policy of title insurance) pertaining to the Mortgaged Property relating
        to a Mortgage Loan cannot be delivered by the Depositor to the Trustee (or
        the
        Custodian on behalf of the Trustee) prior to or concurrently with the execution
        and delivery of this Agreement because such policy is not yet available,
        the
        Depositor may, in lieu of delivering the original or a copy of such title
        insurance referred to in clause (vi) above, deliver to the Trustee (or the
        Custodian on behalf of the Trustee) a binder with respect to such policy
        (which
        may be a certificate relating to a master policy of title insurance) and
        deliver
        the original or a copy of such policy (which may be a certificate relating
        to a
        master policy of title insurance) to the Trustee (or the Custodian on behalf
        of
        the Trustee) within 180 days of the Closing Date, in instances where an original
        assumption, modification, buydown or conversion-to-fixed- interest-rate
        agreement cannot be delivered by the Depositor to the Trustee (or the Custodian
        on behalf of the Trustee) prior to or concurrently with the execution and
        delivery of this Agreement, the Depositor may, in lieu of delivering the
        original of such agreement referred to in clause (iv) above, deliver a certified
        copy thereof.

       

      To
        the
        extent not already recorded, except
        with respect to any Mortgage Loan for which MERS is identified on the Mortgage
        or on a properly recorded assignment of the Mortgage as the mortgagee of
        record,
        the
        Servicer, at the expense of the Sponsor shall promptly (and in no event later
        than five Business Days following the later of the Closing Date and the date
        of
        receipt by the Servicer of the recording information for a Mortgage) submit
        or
        cause to be submitted for recording, at no expense to any Trust REMIC, in
        the
        appropriate public office for real property records, each Assignment delivered
        to it pursuant to (iii) above. In the event that any such Assignment is lost
        or
        returned unrecorded because of a defect therein, the Servicer, at the expense
        of
        the Sponsor, shall promptly prepare or cause to be prepared a substitute
        Assignment or cure or cause to be cured such defect, as the case may be,
        and
        thereafter cause each such Assignment to be duly recorded. Notwithstanding
        the
        foregoing, but without limiting the requirement that such Assignments be
        in
        recordable form, neither the Servicer nor the Trustee shall be required to
        submit or cause to be submitted for recording any Assignment delivered to
        it or
        the Custodian pursuant to (iii) above if such recordation shall not, as of
        the
        Closing Date, be required by the Rating Agencies, as a condition to their
        assignment on the Closing Date of their initial ratings to the Certificates,
        as
        evidenced by the delivery by the Rating Agencies of their ratings letters
        on the
        Closing Date; provided, however, notwithstanding the foregoing, the Servicer
        shall submit each Assignment for recording, at no expense to the Trust Fund
        or
        the Servicer, upon the earliest to occur of: (A) reasonable direction by
        Holders
        of Certificates entitled to at least 25% of the Voting Rights, (B) the
        occurrence of a Servicer Event of Default, (C) the occurrence of a bankruptcy,
        insolvency or foreclosure relating to the Sponsor, (D) the occurrence of
        a
        servicing transfer as described in Section 7.02 of this Agreement and (E)
        with
        respect to any one Assignment the occurrence of a foreclosure relating to
        the
        Mortgagor under the related Mortgage. Notwithstanding the foregoing, if the
        Sponsor fails to pay the cost of recording the Assignments, such expense
        will be
        paid by the Servicer and the Servicer shall be reimbursed for such expenses
        by
        the Trust as Servicing Advances.

       

      In
        connection with the assignment of any Mortgage Loan registered on the MERS
        System, the Depositor further agrees that it will cause, within 30 Business
        Days
        after the Closing Date, the MERS System to indicate that such Mortgage Loans
        have been assigned by the Depositor to the Trustee in accordance with this
        Agreement for the benefit of the Certificateholders by including in such
        computer files (a) the code in the field which identifies the specific Trustee
        and (b) the code in the field “Pool Field” which identifies the series of the
        Certificates issued in connection with such Mortgage Loans. The Depositor
        further agrees that it will not, and will not permit the Servicer to, and
        the
        Servicer agrees that it will not and will not permit a Sub-Servicer to, alter
        the codes referenced in this paragraph with respect to any Mortgage Loan
        during
        the term of this Agreement unless and until such Mortgage Loan is repurchased
        in
        accordance with the terms of this Agreement.

       

      With
        respect to a maximum of approximately 5.00% of the Original Mortgage Loans,
        by
        outstanding principal balance of the Original Mortgage Loans as of the Cut-off
        Date, if any original Mortgage Note referred to in (i) above cannot be located,
        the obligations of the Depositor to deliver such documents shall be deemed
        to be
        satisfied upon delivery to the Trustee (or the Custodian on behalf of the
        Trustee) of a photocopy of such Mortgage Note, if available, with a lost
        note
        affidavit. If any of the original Mortgage Notes for which a lost note affidavit
        was delivered to the Trustee (or the Custodian on behalf of the Trustee)
        is
        subsequently located, such original Mortgage Note shall be delivered to the
        Trustee (or the Custodian on behalf of the Trustee) within three Business
        Days.

       

      The
        Depositor shall deliver or cause to be delivered to the Trustee (or the
        Custodian on behalf of the Trustee) promptly upon receipt thereof any other
        original documents constituting a part of a Mortgage File received with respect
        to any Mortgage Loan, including, but not limited to, any original documents
        evidencing an assumption, modification, consolidation or extension of any
        Mortgage Loan. 

       

      All
        original documents relating to the Mortgage Loans that are not delivered
        to the
        Trustee (or the Custodian on behalf of the Trustee) are and shall be held
        by or
        on behalf of the Sponsor, the Depositor or the Servicer, as the case may
        be, in
        trust for the benefit of the Trustee on behalf of the Certificateholders.
        In the
        event that any such original document is required pursuant to the terms of
        this
        Section to be a part of a Mortgage File, such document shall be delivered
        promptly to the Trustee (or the Custodian on behalf of the Trustee). Any
        such
        original document delivered to or held by the Depositor that is not required
        pursuant to the terms of this Section to be a part of a Mortgage File, shall
        be
        delivered promptly to the Servicer.

       

      Wherever
        it is provided in this Section 2.01 that any document, evidence or information
        relating to a Mortgage Loan be delivered or supplied to the Trustee, the
        Depositor shall do so by delivery thereof to the Trustee or the Custodian
        on
        behalf of the Trustee.

       

      The
        parties hereto understand and agree that it is not intended that any Mortgage
        Loan be included in the Trust that is a high-cost home loan as defined by
        the
        Homeownership and Equity Protection Act of 1994 or any other applicable
        predatory or abusive lending laws.

       

      
        	
              	SECTION
                2.02	
                Acceptance
                  of the Trust Fund by the Trustee.

              

      

       

      Subject
        to the provisions of Section 2.01 and subject to any exceptions noted on
        an
        exception report delivered by or on behalf of the Trustee, the Trustee
        acknowledges receipt of the documents referred to in Section 2.01 (other
        than
        such documents described in Section 2.01(iv)) above and all other assets
        included in the definition of “Trust Fund” and declares that it holds and will
        hold such documents and the other documents delivered to it constituting
        the
        Mortgage File, and that it holds or will hold all such assets and such other
        assets included in the definition of “Trust Fund” in trust for the exclusive use
        and benefit of all present and future Certificateholders.

       

      The
        Trustee, by execution and delivery hereof, acknowledges receipt, subject
        to the
        review described in the succeeding sentence, of the documents and other property
        referred to in Section 2.01 and declares that the Trustee (or the Custodian
        on
        behalf of the Trustee) holds and will hold such documents and other property,
        including property yet to be received in the Trust Fund, in trust, upon the
        trusts herein set forth, for the benefit of all present and future
        Certificateholders. The Trustee or the Custodian on its behalf shall, for
        the
        benefit of the Trustee and the Certificateholders, review each Mortgage File
        within 90 days after execution and delivery of this Agreement, to ascertain
        that
        all required documents have been executed, received and recorded, if applicable,
        and that such documents relate to the Mortgage Loans. If in the course of
        such
        review the Trustee or the Custodian on its behalf finds a document or documents
        constituting a part of a Mortgage File to be defective or missing in any
        material respect, the Trustee or the Custodian on its behalf shall promptly
        so
        notify the Depositor, the Trust Administrator, the Sponsor, the Servicer
        and, if
        such notice is from the Custodian on the Trustee’s behalf, the Trustee. In
        addition, upon the discovery by the Depositor, the Servicer, the Trust
        Administrator or the Trustee of a breach of any of the representations and
        warranties made by the Originator or the Sponsor in the Assignment Agreement
        in
        respect of any Mortgage Loan which materially adversely affects such Mortgage
        Loan or the interests of the related Certificateholders in such Mortgage
        Loan,
        the party discovering such breach shall give prompt written notice to the
        other
        parties.

       

      The
        Depositor and the Trustee intend that the assignment and transfer herein
        contemplated constitute a sale of the Mortgage Loans, the related Mortgage
        Notes
        and the related documents, conveying good title thereto free and clear of
        any
        liens and encumbrances, from the Depositor to the Trustee in trust for the
        benefit of the Certificateholders and that such property not be part of the
        Depositor’s estate or property of the Depositor in the event of any insolvency
        by the Depositor. In the event that such conveyance is deemed to be, or to
        be
        made as security for, a loan, the parties intend that the Depositor shall
        be
        deemed to have granted and does hereby grant to the Trustee a first priority
        perfected security interest in all of the Depositor’s right, title and interest
        in and to the Mortgage Loans, the related Mortgage Notes and the related
        documents, and that this Agreement shall constitute a security agreement
        under
        applicable law.

       

      The
        Trustee may, concurrently with the execution and delivery hereof or at any
        time
        thereafter, enter into a custodial agreement with the Custodian pursuant
        to
        which the Trustee appoints the Custodian to hold the Mortgage Files on behalf
        of
        the Trustee for the benefit of the Trustee and all present and future
        Certificateholders, which may provide that the Custodian shall, on behalf
        of the
        Trustee, conduct the review of each Mortgage File required under the first
        paragraph of this Section 2.02. Initially, Citibank, N.A. is appointed as
        Custodian with respect to the Mortgage Files of all the Mortgage Loans and,
        notwithstanding anything to the contrary herein, it is understood that such
        initial Custodian shall be responsible for the review contemplated in the
        second
        paragraph of this Section 2.02 and for all other functions relating to the
        receipt, review, reporting and certification provided for herein with respect
        to
        the Mortgage Files (other than ownership thereof for the benefit of the
        Certificateholders and related duties and obligations set forth
        herein).

       

      
        	
              	SECTION
                2.03	
                Repurchase
                  or Substitution of Mortgage Loans by the Sponsor or the
                  Depositor.

              

      

       

      (a)  Upon
        discovery or receipt of notice by the Depositor, the Servicer, the Trust
        Administrator or the Trustee of any materially defective document in, or
        that a
        document is missing from, a Mortgage File or of the breach by the Originator
        or
        the Sponsor of any representation, warranty or covenant under the Master
        Agreement or the Assignment Agreement in respect of any Mortgage Loan which
        materially adversely affects the value of such Mortgage Loan or the interest
        therein of the Certificateholders, the party so discovering or receiving
        notice
        shall promptly notify the other parties to this Agreement, and the Trustee
        thereupon shall promptly notify the Originator and the Sponsor of such defect,
        missing document or breach and request that the Originator deliver such missing
        document or cure such defect or that the Originator or the Sponsor, as
        applicable, cure such breach within 90 days from the date the Originator
        or the
        Sponsor, as applicable, was notified of such missing document, defect or
        breach,
        and if the Originator or Sponsor, as applicable, does not deliver such missing
        document or cure such defect or breach in all material respects during such
        period, the Trustee shall enforce the obligations of the Originator or Sponsor,
        as applicable, under the Master Agreement or the Assignment Agreement (i)
        to
        repurchase such Mortgage Loan from REMIC I at the Purchase Price within 90
        days
        after the date on which the Sponsor was notified (subject to Section 2.03(e))
        of
        such missing document, defect or breach, and (ii) to indemnify the Trust
        Fund in
        respect of such missing document, defect or breach, in the case of each of
        (i)
        and (ii), if and to the extent that the Originator or Sponsor, as applicable,
        is
        obligated to do so under the Master Agreement or the Assignment Agreement.
        The
        Purchase Price for the repurchased Mortgage Loan and any indemnification
        shall
        be remitted by the Originator or the Sponsor, as applicable, to the Servicer
        for
        deposit into the Collection Account, and the Trust Administrator, upon receipt
        of written notice from the Servicer of such deposit, shall give written notice
        to the Trustee and the Custodian that such deposit has taken place and the
        Trustee shall release (or cause the Custodian to release on its behalf) to
        the
        Originator or the Sponsor, as applicable, the related Mortgage File, and
        the
        Trustee and the Trust Administrator shall execute and deliver such instruments
        of transfer or assignment, in each case without recourse, as the Originator
        or
        the Sponsor, as applicable, shall furnish to it and as shall be necessary
        to
        vest in the Originator or the Sponsor, as applicable, any Mortgage Loan released
        pursuant hereto, and the Trustee and the Trust Administrator shall have no
        further responsibility with regard to such Mortgage File. In furtherance
        of the
        foregoing, if the Originator or the Sponsor, as applicable, is not a member
        of
        MERS and repurchases a Mortgage Loan which is registered on the MERS System,
        the
        Originator or the Sponsor, as applicable, pursuant to the Master Agreement
        or
        the Assignment Agreement at its own expense and without any right of
        reimbursement, shall cause MERS to execute and deliver an assignment of the
        Mortgage in recordable form to transfer the Mortgage from MERS to the Originator
        or the Sponsor, as applicable, and shall cause such Mortgage to be removed
        from
        registration on the MERS System in accordance with MERS rules and regulations.
        In lieu of repurchasing any such Mortgage Loan as provided above, if so provided
        in the Master Agreement or Assignment Agreement the Originator or the Sponsor,
        as applicable, may cause such Mortgage Loan to be removed from REMIC I (in
        which
        case it shall become a Deleted Mortgage Loan) and substitute one or more
        Qualified Substitute Mortgage Loans in the manner and subject to the limitations
        set forth in Section 2.03(d). It is understood and agreed that the obligation
        of
        the Originator or the Sponsor, as applicable, to cure or to repurchase (or
        to
        substitute for) any Mortgage Loan as to which a document is missing, a material
        defect in a constituent document exists or as to which such a breach has
        occurred and is continuing, and if and to the extent provided in the Master
        Agreement or Assignment Agreement to perform any applicable indemnification
        obligations with respect to any such omission, defect or breach, as provided
        in
        such Assignment Agreement, shall constitute the only remedies respecting
        such
        omission, defect or breach available to the Trustee or the Trust Administrator
        on behalf of the Certificateholders.

       

      (b)  Notwithstanding
        anything to the contrary in this Section 2.03, with respect to any breach
        by the
        Originator or the Sponsor, as applicable, of any representation and warranty
        which breach materially and adversely affects the value of any Prepayment
        Charge
        or the interests of the Certificateholders therein, the Trustee shall enforce
        the obligation of the Originator or the Sponsor, as applicable, to remedy
        such
        breach as provided in the Master Agreement or Assignment Agreement as follows:
        upon any Principal Prepayment with respect to the affected Mortgage Loan,
        the
        Originator or the Sponsor, as applicable, shall pay or cause to be paid to
        the
        Purchaser the excess, if any, of (x) the amount of such Prepayment Charge
        calculated as set forth in the Mortgage Loan Schedule and (y) the amount
        collected from the Mortgagor in respect of such Prepayment Charge.

       

      (c)  Within
        90
        days of the earlier of discovery by the Servicer or receipt of notice by
        the
        Depositor of the breach of any representation, warranty or covenant of the
        Servicer set forth in Section 2.05 which materially and adversely affects
        the
        interests of the Certificateholders in any Mortgage Loan, the Servicer shall
        cure such breach in all material respects.

       

      (d)  Any
        substitution of Qualified Substitute Mortgage Loans for Deleted Mortgage
        Loans
        made pursuant to Section 2.03(a) must be effected prior to the date which
        is two
        years after the Startup Day for REMIC I.

       

      As
        to any
        Deleted Mortgage Loan for which the Originator or the Sponsor, as applicable,
        substitutes a Qualified Substitute Mortgage Loan or Loans, such substitution
        shall be effected by the Originator or the Sponsor, as applicable, delivering
        to
        the Trustee (or to the Custodian on behalf of the Trustee, as applicable),
        for
        such Qualified Substitute Mortgage Loan or Loans, the Mortgage Note, the
        Mortgage, the Assignment in blank or to the Trustee, and such other documents
        and agreements, with all necessary endorsements thereon, as are required
        by
        Section 2.01, together with an Officers’ Certificate providing that each such
        Qualified Substitute Mortgage Loan satisfies the definition thereof and
        specifying the Substitution Shortfall Amount (as described below), if any,
        in
        connection with such substitution. The Custodian on its behalf and on behalf
        of
        the Trustee shall, for the benefit of the Certificateholders, review each
        Mortgage File within 90 days after execution and delivery of this Agreement,
        to
        ascertain that all required documents have been executed, received and recorded,
        if applicable, and that such documents relate to the Mortgage Loans. If in
        the
        course of such review the Trustee or the Custodian on its behalf finds a
        document or documents constituting a part of a Mortgage File to be defective
        in
        any material respect, the Trustee or the Custodian on its behalf shall promptly
        so notify the Depositor, the Trust Administrator, the Originator, the Sponsor
        and the Servicer. Monthly Payments due with respect to Qualified Substitute
        Mortgage Loans in the month of substitution are not part of the Trust Fund
        and
        will be retained by the Originator or the Sponsor, as applicable. For the
        month
        of substitution, distributions to Certificateholders will reflect the Monthly
        Payment due on such Deleted Mortgage Loan on or before the Due Date in the
        month
        of substitution, and the Originator or the Sponsor, as applicable, shall
        thereafter be entitled to retain all amounts subsequently received in respect
        of
        such Deleted Mortgage Loan. The Trust Administrator shall give or cause to
        be
        given written notice to the Trustee and the Certificateholders that such
        substitution has taken place, and the Trust Administrator shall amend or
        cause
        the Custodian to amend the Mortgage Loan Schedule to reflect the removal
        of such
        Deleted Mortgage Loan from the terms of this Agreement and the substitution
        of
        the Qualified Substitute Mortgage Loan or Loans and, upon receipt thereof,
        shall
        deliver a copy of such amended Mortgage Loan Schedule to the Servicer. Upon
        such
        substitution, such Qualified Substitute Mortgage Loan or Loans shall constitute
        part of the Mortgage Pool and shall be subject in all respects to the terms
        of
        this Agreement and the Master Agreement or Assignment Agreement (including
        all
        applicable representations and warranties thereof included in such Master
        Agreement or Assignment Agreement), in each case as of the date of
        substitution.

       

      For
        any
        month in which the Originator or the Sponsor, as applicable, substitutes
        one or
        more Qualified Substitute Mortgage Loans for one or more Deleted Mortgage
        Loans,
        the Servicer will determine the amount (the “Substitution Shortfall Amount”), if
        any, by which the aggregate Purchase Price of all such Deleted Mortgage Loans
        exceeds the aggregate of, as to each such Qualified Substitute Mortgage Loan,
        the Scheduled Principal Balance thereof as of the date of substitution, together
        with one month’s interest on such Scheduled Principal Balance at the applicable
        Mortgage Loan Remittance Rate. On the date of such substitution, the Trustee
        will monitor the obligation of the Originator or the Sponsor, as applicable,
        to
        deliver or cause to be delivered, and shall request that such delivery be
        to the
        Servicer for deposit in the Collection Account, an amount equal to the
        Substitution Shortfall Amount, if any, and the Trustee (or the Custodian
        on
        behalf of the Trustee, as applicable), upon receipt of the related Qualified
        Substitute Mortgage Loan or Loans and written notice given by the Servicer
        of
        such deposit, shall release to the Originator or the Sponsor, as applicable,
        the
        related Mortgage File or Files and the Trustee and the Trust Administrator
        shall
        execute and deliver such instruments of transfer or assignment, in each case
        without recourse, as the Originator or the Sponsor, as applicable, shall
        deliver
        to it and as shall be necessary to vest therein any Deleted Mortgage Loan
        released pursuant hereto.

       

      In
        addition, the Originator or the Sponsor, as applicable, shall obtain at its
        own
        expense and deliver to the Trustee and the Trust Administrator an Opinion
        of
        Counsel to the effect that such substitution will not cause (a) any federal
        tax
        to be imposed on any Trust REMIC, including without limitation, any federal
        tax
        imposed on “prohibited transactions” under Section 860F(a)(1) of the Code or on
“contributions after the startup date” under Section 860G(d)(1) of the Code, or
        (b) any Trust REMIC to fail to qualify as a REMIC at any time that any
        Certificate is outstanding.

       

      (e)  Upon
        discovery by the Depositor, the Servicer, the Trust Administrator or the
        Trustee
        that any Mortgage Loan does not constitute a “qualified mortgage” within the
        meaning of Section 860G(a)(3) of the Code, the party discovering such fact
        shall
        within two Business Days give written notice thereof to the other parties
        to
        this Agreement, and the Trustee shall give written notice thereof to the
        Sponsor. In connection therewith, the Originator or the Sponsor, as applicable,
        pursuant to the Master Agreement or Assignment Agreement or the Depositor
        pursuant to this Agreement shall repurchase or, subject to the limitations
        set
        forth in Section 2.03(d), substitute one or more Qualified Substitute Mortgage
        Loans for the affected Mortgage Loan within 90 days of the earlier of discovery
        or receipt of such notice with respect to such affected Mortgage Loan. Such
        repurchase or substitution shall be made by (i) the Originator or the Sponsor,
        as applicable, if the affected Mortgage Loan’s status as a non-qualified
        mortgage is or results from a breach of any representation, warranty or covenant
        made by the Originator or the Sponsor, as applicable, under the Master Agreement
        or Assignment Agreement or (iii) the Depositor, if the affected Mortgage
        Loan’s
        status as a non-qualified mortgage is a breach of no representation or warranty.
        Any such repurchase or substitution shall be made in the same manner as set
        forth in Sections 2.03(a). The Trustee shall reconvey to the Depositor, the
        Originator or the Sponsor, as the case may be, the Mortgage Loan to be released
        pursuant hereto in the same manner, and on the same terms and conditions,
        as it
        would a Mortgage Loan repurchased by the Originator or the Sponsor for breach
        of
        a representation or warranty.

       

      
        	
              	SECTION
                2.04	
                [Reserved].

              

      

       

      
        	
              	SECTION
                2.05	
                Representations,
                  Warranties and Covenants of the
                  Servicer.

              

      

       

      The
        Servicer hereby represents, warrants and covenants to the Trust Administrator
        and the Trustee, for the benefit of each of the Trustee, the Trust
        Administrator, the Certificateholders and to the Depositor that as of the
        Closing Date or as of such date specifically provided herein: 

       

      (i)  The
        Servicer is a national banking association duly formed, validly existing
        and in
        good standing under the laws of the United States of America and is duly
        authorized and qualified to transact any and all business contemplated by
        this
        Agreement to be conducted by the Servicer;

       

      (ii)  The
        Servicer has the full power and authority to conduct its business as presently
        conducted by it and to execute, deliver and perform, and to enter into and
        consummate, all transactions contemplated by this Agreement. The Servicer
        has
        duly authorized the execution, delivery and performance of this Agreement,
        has
        duly executed and delivered this Agreement, and this Agreement, assuming
        the due
        authorization, execution and delivery thereof by the Trustee, the Depositor
        and
        the Trust Administrator, constitutes a legal, valid and binding obligation
        of
        the Servicer, enforceable against the Servicer in accordance with its terms
        except as the enforceability thereof may be limited by bankruptcy, insolvency,
        reorganization or similar laws affecting the enforcement of creditors' rights
        generally, laws affecting the contract obligations of insured banks and by
        general principles of equity;

       

      (iii)  The
        execution and delivery of this Agreement by the Servicer, the servicing of
        the
        Mortgage Loans by the Servicer hereunder, the consummation by the Servicer
        of
        any other of the transactions herein contemplated, and the fulfillment of
        or
        compliance with the terms hereof are in the ordinary course of business of
        the
        Servicer and will not (A) result in a breach of any term or provision of
        the
        charter or by-laws of the Servicer or (B) conflict with, result in a breach,
        violation or acceleration of, or result in a default under, the terms of
        any
        other material agreement or instrument to which the Servicer is a party or
        by
        which it may be bound, or any statute, order or regulation applicable to
        the
        Servicer of any court, regulatory body, administrative agency or governmental
        body having jurisdiction over the Servicer; and the Servicer is not a party
        to,
        bound by, or in breach or violation of any indenture or other agreement or
        instrument, or subject to or in violation of any statute, order or regulation
        of
        any court, regulatory body, administrative agency or governmental body having
        jurisdiction over it, which materially and adversely affects or, to the
        Servicer's knowledge, would in the future materially and adversely affect,
        (x)
        the ability of the Servicer to perform its obligations under this Agreement,
        (y)
        the business, operations, financial condition, properties or assets of the
        Servicer taken as a whole or (z) the legality, validity or enforceability
        of
        this Agreement;

       

      (iv)  The
        Servicer is a HUD approved mortgagee pursuant to Section 203 and Section
        211 of
        the National Housing Act and is an approved seller/servicer for Fannie Mae
        or
        Freddie Mac in good standing. No event has occurred, including but not limited
        to a change in insurance coverage, that would make the Servicer unable to
        comply
        with HUD eligibility requirements or that would require notification to
        HUD;

       

      (v)  The
        Servicer does not believe, nor does it have any reason or cause to believe,
        that
        it cannot perform each and every covenant made by it and contained in this
        Agreement;

       

      (vi)  No
        litigation is pending against the Servicer that would materially and adversely
        affect the execution, delivery or enforceability of this Agreement or the
        ability of the Servicer to service the Mortgage Loans or to perform any of
        its
        other obligations hereunder in accordance with the terms hereof;

       

      (vii)  There
        are
        no actions or proceedings against, or investigations known to it of, the
        Servicer before any court, administrative or other tribunal (A) that might
        prohibit its entering into this Agreement, (B) seeking to prevent the
        consummation of the transactions contemplated by this Agreement or (C) that
        might prohibit or materially and adversely affect the performance by the
        Servicer of its obligations under, or the validity or enforceability of,
        this
        Agreement;

       

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

       

      (ix)  The
        Servicer has fully furnished and will continue to fully furnish, in accordance
        with the Fair Credit Reporting Act and its implementing regulations, accurate
        and complete information (e.g., favorable and unfavorable) on its borrower
        credit files to Equifax, Experian and Trans Union Credit Information Company
        or
        their successors (the “Credit Repositories”) in a timely manner;
        and

       

      (x)  The
        Servicer is a member of MERS in good standing, and will comply in all material
        respects with the rules and procedures of MERS in connection with the servicing
        of the Mortgage Loans that are registered with MERS.

       

      It
        is
        understood and agreed that the representations, warranties and covenants
        set
        forth in this Section 2.05 shall survive delivery of the Mortgage Files to
        the
        Trustee or to the Custodian on its behalf and shall inure to the benefit
        of the
        Trustee, the Trust Administrator, the Depositor and the Certificateholders.
        Upon
        discovery by any of the Depositor, the Servicer, the Trust Administrator
        or the
        Trustee of a breach of any of the foregoing representations, warranties and
        covenants which materially and adversely affects the value of any Mortgage
        Loan
        or the interests therein of the Certificateholders, the party discovering
        such
        breach shall give prompt written notice (but in no event later than two Business
        Days following such discovery) to the Trustee and the Trust Administrator.
        Subject to Section 7.01, the obligation of the Servicer set forth in Section
        2.03(c) to cure breaches shall constitute the sole remedies against the Servicer
        available to the Certificateholders, the Depositor, the Trust Administrator
        or
        the Trustee on behalf of the Certificateholders respecting a breach of the
        representations, warranties and covenants contained in this Section
        2.05.

       

      
        	
              	SECTION
                2.06	
                Issuance
                  of the Certificates.

              

      

       

      The
        Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery
        to it or to the Custodian on its behalf of the Mortgage Files, subject to
        the
        provisions of Section 2.01 and Section 2.02, together with the assignment
        to it
        of all other assets included in REMIC I delivered on the date hereof, receipt
        of
        which is hereby acknowledged. Concurrently with such assignment and delivery
        of
        such assets delivered on the date hereof and in exchange therefor, the Trust
        Administrator, pursuant to the written request of the Depositor executed
        by an
        officer of the Depositor, has executed, authenticated and delivered, to or
        upon
        the order of the Depositor, the Certificates in authorized denominations.
        The
        interests evidenced by the Certificates (other than the Class CE Certificates,
        the Class P Certificates and the Class R-X Certificates), the Class CE Interest
        and the Class P Interest constitute the entire beneficial ownership interest
        in
        REMIC II.

       

      
        	
              	SECTION
                2.07	
                Authorization
                  to Enter into the Interest Rate Cap Agreement 

              

      

       

      (a)  The
        Trustee, not in its individual capacity but solely in its separate capacity
        as
        Cap Trustee, is hereby directed to exercise the rights, perform the obligations,
        and make any representations to be exercised, performed, or made by the Cap
        Trustee, as described herein. The Cap Trustee is hereby directed to execute
        and
        deliver the Interest Rate Cap Agreement on behalf of Party B (as defined
        therein) and to exercise the rights, perform the obligations, and make the
        representations of Party B thereunder, solely in its capacity as Cap Trustee
        on
        behalf of Party B (as defined therein) and not in its individual
        capacity.

       

      (b)  The
        Servicer, the Depositor and the Certificateholders (by acceptance of their
        Certificates) acknowledge and agree that:

       

      (i)       
        the
        Cap
        Trustee shall execute and deliver the Interest Rate Cap Agreement on behalf
        of
        Party B (as defined therein), and 

      

      (ii)       the
        Cap
        Trustee shall exercise the rights, perform the obligations, and make the
        representations of Party B thereunder, solely in its capacity as Cap Trustee
        on
        behalf of Party B (as defined therein) and not in its individual
        capacity.

      

      Every
        provision of this Agreement relating to the conduct or affecting the liability
        of or affording protection to the Trustee shall apply to the Cap Trustee’s
        execution of the Interest Rate Cap Agreement, and the performance of its
        duties
        and satisfaction of its obligations thereunder. 

       

      
        	
              	SECTION
                2.08	
                Conveyance
                  of the REMIC Regular Interests; Acceptance of the Trust REMICs
                  by the
                  Trustee.

              

      

       

      (a)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        assets
        described in the definition of REMIC I for the benefit of the holders of
        the
        REMIC I Regular Interests (which are uncertificated) and the Class R
        Certificates (in respect of the Class R-I Interest). The Trustee (or the
        Custodian on its behalf, as applicable) acknowledges receipt of the assets
        described in the definition of REMIC I and declares that it holds and will
        hold
        the same in trust for the exclusive use and benefit of the holders of the
        REMIC
        I Regular Interests and the Class R Certificates (in respect of the Class
        R-I
        Interest). The interests evidenced by the Class R-I Interest, together with
        the
        REMIC I Regular Interests, constitute the entire beneficial ownership interest
        in REMIC I.

       

      (b)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        REMIC
        I Regular Interests (which are uncertificated) for the benefit of the Holders
        of
        the Regular Certificates (other than the Class CE Certificates and the Class
        P
        Certificates), the Class CE Interest, the Class P Interest and the Class
        R
        Certificates (in respect of the Class R-II Interest). The Trustee acknowledges
        receipt of the REMIC I Regular Interests and declares that it holds and will
        hold the same in trust for the exclusive use and benefit of the Holders of
        the
        Regular Certificates (other than the Class CE Certificates and the Class
        P
        Certificates), the Class CE Interest, the Class P Interest and the Class
        R
        Certificates (in respect of the Class R-I Interest). The interests evidenced
        by
        the Class R-II Interest, together with the Regular Certificates, the Class
        CE
        Interest and the Class P Interest, constitute the entire beneficial ownership
        interest in REMIC II.

       

      (c)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        CE Interest (which is uncertificated) for the benefit of the Holders of the
        Class CE Certificates and the Class R-III Certificates (in respect of the
        Class
        R-III Interest). The Trustee acknowledges receipt of the Class CE Interest
        and
        declares that it holds and will hold the same in trust for the exclusive
        use and
        benefit of the Holders of the Class CE Certificates and the Class R-X
        Certificates (in respect of the Class R-III Interest). The interests evidenced
        by the Class R-III Interest, together with the Class CE Certificates, constitute
        the entire beneficial ownership interest in REMIC III.

       

      (d)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        P Interest (which is uncertificated) for the benefit of the Holders of the
        Class
        P Certificates and the Class R-X Certificates (in respect of the Class R-IV
        Interest). The Trustee acknowledges receipt of the Class P Interest and declares
        that it holds and will hold the same in trust for the exclusive use and benefit
        of the Holders of the Class P Certificates and the Class R-X Certificates
        (in
        respect of the Class R-IV Interest). The interests evidenced by the Class
        R-IV
        Interest, together with the Class P Certificates, constitute the entire
        beneficial ownership interest in REMIC IV.

       

      (e)  Concurrently
        with (i) the assignment and delivery to the Trustee of REMIC I and the
        acceptance by the Trustee thereof, pursuant to Section 2.01, Section 2.02
        and
        subsection (a) hereof, (ii) the assignment and delivery to the Trustee of
        REMIC
        II (including the Residual Interest therein represented by the Class R-II
        Interest) and the acceptance by the Trustee thereof, pursuant to Section
        2.01,
        Section 2.02 and subsection (b) hereof and (iv) the assignment and delivery
        to
        the Trustee of REMIC III (including the Residual Interest therein represented
        by
        the Class R-III Interest) and the acceptance by the Trustee thereof, pursuant
        to
        Section 2.01, Section 2.02 and subsection (c) hereof and (v) the assignment
        and
        delivery to the Trustee of REMIC IV (including the Residual Interest therein
        represented by the Class R-IV Interest) and the acceptance by the Trustee
        thereof, pursuant to Section 2.01, Section 2.02 and subsection (d) hereof,
        the
        Trustee, pursuant to the written request of the Depositor executed by an
        officer
        of the Depositor, has executed, authenticated and delivered to or upon the
        order
        of the Depositor, (A) the Class R Certificates in authorized denominations
        evidencing the Class R-I Interest and the Class R-II Interest and (B) the
        Class
        R-X Certificates in authorized denominations evidencing the Class R-III Interest
        and the Class R-IV Interest.

       

      ARTICLE
        III  

       

      ADMINISTRATION
        AND SERVICING

      OF
        THE
        MORTGAGE LOANS

       

      
        	
              	SECTION
                3.01	
                Servicer
                  to Act as Servicer.

              

      

       

      The
        Servicer
        shall
        service and administer the Mortgage Loans on behalf of the Trustee and in
        the
        best interests of and for the benefit of the Certificateholders (as determined
        by the Servicer in its reasonable judgment) in accordance with the terms
        of this
        Agreement and the respective Mortgage Loans and, to the extent consistent
        with
        such terms, in the same manner in which it services and administers similar
        mortgage loans for its own portfolio, giving due consideration to customary
        and
        usual standards of practice of prudent mortgage lenders and loan servicers
        administering similar mortgage loans but without regard to:

       

      (i)        
        any
        relationship that the Servicer, any Sub-Servicer or any Affiliate of the
        Servicer or any Sub-Servicer may have with the related Mortgagor;

       

      (ii)       
        the
        ownership of any Certificate by the Servicer or any Affiliate of the
        Servicer;

       

      (iii)  the
        Servicer’s obligation to make P&I Advances or Servicing Advances;
        or

       

      (iv)  the
        Servicer’s or any Sub-Servicer’s right to receive compensation for its services
        hereunder or with respect to any particular transaction.

       

      To
        the
        extent consistent with the foregoing, the Servicer (a) shall seek the timely
        and
        complete recovery of principal and interest on the Mortgage Notes and (b)
        shall
        waive (or permit a Sub-Servicer to waive) a Prepayment Charge only under
        the
        following circumstances: (i) such waiver is standard and customary in servicing
        similar Mortgage Loans and such waiver relates to a default or a reasonably
        foreseeable default and would, in the reasonable judgment of the Servicer,
        maximize recovery of total proceeds taking into account the value of such
        Prepayment Charge and the related Mortgage Loan, (ii) the collection of such
        Prepayment Charge would be in violation of applicable laws or (iii) the amount
        of the Prepayment Charge set forth on the Prepayment Charge Schedule is not
        consistent with the related Mortgage Note or is otherwise unenforceable.
        If a
        Prepayment Charge is waived as permitted by meeting the standard described
        in
        clauses (ii) or (iii) above, then, the Trustee shall make commercially
        reasonable efforts to attempt to enforce the obligations of the Originator
        under
        the Master Agreement to pay the amount of such waived Prepayment Charge,
        for the
        benefit of the Holders of the Class P Certificates; provided, however, that
        the
        Trustee shall not be under any obligation to take any action pursuant to
        this
        paragraph unless directed by the Depositor and provided, further, the Depositor
        hereby agrees to assist the Trustee in enforcing any obligations of the
        Originator to repurchase or substitute for a Mortgage Loan which has breached
        a
        representation or warranty under the Master Agreement or Assignment Agreement.
        If the Trustee makes a good faith determination as evidenced by an officer’s
        certificate delivered by the Trustee to the Trust Administrator, that the
        Servicer’s efforts are not reasonably expected to be successful in enforcing
        such rights, it shall notify the Trust Administrator of such failure and
        the
        Trust Administrator, with the cooperation of the Servicer, shall enforce
        the
        obligation of the Originator under the Master Agreement to pay to the Servicer
        the amount of such waived Prepayment Charge. If such Originator fails to
        pay the
        amount of such waived Prepayment Charge in accordance with its obligations
        under
        the related Master Agreement, the Trustee, Trust Administrator, the Servicer
        and
        the Depositor shall consult on further actions to be taken against the
        Originator. Notwithstanding the foregoing, to the extent that the Trustee
        and
        the Originator are the same entity, the Trust Administrator shall enforce
        the
        obligations of the Originator under the related Master Agreement pursuant
        to the
        terms of this paragraph.

       

      To
        the
        extent consistent with the foregoing, the Servicer shall also seek to maximize
        the timely and complete recovery of principal and interest on the Mortgage
        Notes. Subject only to the above-described servicing standards and the terms
        of
        this Agreement and of the respective Mortgage Loans, the Servicer shall have
        full power and authority, acting alone or through Sub-Servicers as provided
        in
        Section 3.02, to do or cause to be done any and all things in connection
        with
        such servicing and administration which it may deem necessary or desirable.
        Without limiting the generality of the foregoing, the Servicer in its own
        name
        or in the name of a Sub-Servicer is hereby authorized and empowered by the
        Trustee when the Servicer believes it appropriate in its best judgment in
        accordance with the servicing standards set forth above, to execute and deliver,
        on behalf of the Certificateholders and the Trustee, and upon notice to the
        Trustee, any and all instruments of satisfaction or cancellation, or of partial
        or full release or discharge, and all other comparable instruments, with
        respect
        to the Mortgage Loans and the Mortgaged Properties and to institute foreclosure
        proceedings or obtain a deed-in-lieu of foreclosure so as to convert the
        ownership of such properties, and to hold or cause to be held title to such
        properties, on behalf of the Trustee and Certificateholders. The Servicer
        shall
        service and administer the Mortgage Loans in accordance with applicable state
        and federal law and shall provide to the Mortgagors any reports required
        to be
        provided to them thereby. The Servicer shall also comply in the performance
        of
        this Agreement with all reasonable rules and requirements of any standard
        hazard
        insurance policy. Subject to Section 3.17, the Trustee shall execute, at
        the
        written request of the Servicer, and furnish to the Servicer and any
        Sub-Servicer such documents as are necessary or appropriate to enable the
        Servicer or any Sub-Servicer to carry out their servicing and administrative
        duties hereunder, and the Trustee hereby grants to the Servicer a power of
        attorney to carry out such duties. The Trustee shall not be liable for the
        actions of the Servicer or any Sub-Servicers under such powers of
        attorney.

       

      In
        accordance with the standards of the preceding paragraph, the Servicer shall
        advance or cause to be advanced funds as necessary for the purpose of effecting
        the timely payment of taxes and assessments on the Mortgaged Properties,
        which
        advances shall be Servicing Advances reimbursable in the first instance from
        related collections from the Mortgagors pursuant to Section 3.09, and further
        as
        provided in Section 3.11. Any cost incurred by the Servicer or by Sub-Servicers
        in effecting the timely payment of taxes and assessments on a Mortgaged Property
        shall not, for the purpose of calculating distributions to Certificateholders,
        be added to the unpaid principal balance of the related Mortgage Loan,
        notwithstanding that the terms of such Mortgage Loan so permit provided,
        however, that (subject to Section 3.07) the Servicer may capitalize the amount
        of any Servicing Advances incurred pursuant to this Section 3.01 in connection
        with the modification of a Mortgage Loan.

       

      The
        Servicer further is authorized and empowered by the Trustee, on behalf of
        the
        Certificateholders and the Trustee, in its own name or in the name of the
        Sub-Servicer, when the Servicer or the Sub-Servicer, as the case may be,
        believes it is appropriate in its best judgment to register any Mortgage
        Loan on
        the MERS System, or cause the removal from the registration of any Mortgage
        Loan
        on the MERS System, to execute and deliver, on behalf of the Trustee and
        the
        Certificateholders or any of them, any and all instruments of assignment
        and
        other comparable instruments with respect to such assignment or re-recording
        of
        a Mortgage in the name of MERS, solely as nominee for the Trustee and its
        successors and assigns. Any reasonable expenses (i) incurred as a result
        of MERS
        discontinuing or becoming unable to continue operations in connection with
        the
        MERS System or (ii) if the affected Mortgage Loan is in default or, in the
        judgment of the Servicer, such default is reasonably foreseeable, incurred
        in
        connection with the actions described in the preceding sentence, shall be
        subject to withdrawal by the Servicer from the Collection Account.

       

      Notwithstanding
        anything in this Agreement to the contrary, the Servicer may not make any
        future
        advances with respect to a Mortgage Loan (except as provided in Section 4.03)
        and the Servicer shall not (i) permit any modification with respect to any
        Mortgage Loan (except with respect to a Mortgage Loan that is in default
        or, in
        the judgment of the Servicer, such default is reasonably foreseeable) that
        would
        change the Mortgage Rate, reduce or increase the principal balance (except
        for
        reductions resulting from actual payments of principal) or change the final
        maturity date on such Mortgage Loan or (ii) permit any modification, waiver
        or
        amendment of any term of any Mortgage Loan that would both (A) effect an
        exchange or reissuance of such Mortgage Loan under Section 1001 of the Code
        (or
        final, temporary or proposed Treasury regulations promulgated thereunder)
        and
        (B) cause any Trust REMIC to fail to qualify as a REMIC under the Code or
        the
        imposition of any tax on “prohibited transactions” or “contributions after the
        startup date” under the REMIC Provisions.

       

      The
        Servicer may delegate its responsibilities under this Agreement; provided,
        however, that no such delegation shall release the Servicer from the
        responsibilities or liabilities arising under this Agreement.

       

      
        	
              	SECTION
                3.02	
                Sub-Servicing
                  Agreements Between the Servicer and
                  Sub-Servicers.

              

      

       

      (a)  The
        Servicer may enter into Sub-Servicing
        Agreements
        (provided that such agreements would not result in a withdrawal or a downgrading
        by the Rating Agencies of the rating on any Class of Certificates) with
        Sub-Servicers, for the servicing and administration of the Mortgage Loans;
        provided, however, such sub-servicing arrangement and the terms of the related
        Sub-Servicing Agreement must provide for the servicing of Mortgage Loans
        in a
        manner consistent with the servicing arrangement contemplated hereunder.
        

       

      (b)  Each
        Sub-Servicer shall be (i) authorized to transact business in the state or
        states
        in which the related Mortgaged Properties it is to service are situated,
        if and
        to the extent required by applicable law to enable the Sub-Servicer to perform
        its obligations hereunder and under the Sub-Servicing Agreement and (ii)
        a
        Freddie Mac or Fannie Mae approved mortgage servicer. Each Sub-Servicing
        Agreement must impose on the Sub-Servicer requirements conforming to the
        provisions set forth in Section 3.08 and provide for servicing of the Mortgage
        Loans consistent with the terms of this Agreement. The Servicer will examine
        each Sub-Servicing Agreement and will be familiar with the terms thereof.
        The
        terms of any Sub-Servicing Agreement will not be inconsistent with any of
        the
        provisions of this Agreement. The Servicer and the Sub-Servicers may enter
        into
        and make amendments to the Sub-Servicing Agreements or enter into different
        forms of Sub-Servicing Agreements; provided, however, that any such amendments
        or different forms shall be consistent with and not violate the provisions
        of
        this Agreement, and that no such amendment or different form shall be made
        or
        entered into which could be reasonably expected to be materially adverse
        to the
        interests of the Certificateholders, without the consent of the Holders of
        Certificates entitled to at least 66% of the Voting Rights. Any variation
        without the consent of the Holders of Certificates entitled to at least 66%
        of
        the Voting Rights from the provisions set forth in Section 3.08 relating
        to
        insurance or priority requirements of Sub-Servicing Accounts, or credits
        and
        charges to the Sub- Servicing Accounts or the timing and amount of remittances
        by the Sub-Servicers to the Servicer, are conclusively deemed to be inconsistent
        with this Agreement and therefore prohibited. The Servicer shall deliver
        to the
        Trustee and the Trust Administrator copies of all Sub-Servicing Agreements,
        and
        any amendments or modifications thereof, promptly upon the Servicer’s execution
        and delivery of such instruments.

       

      (c)  As
        part
        of its servicing activities hereunder, the Servicer (except as otherwise
        provided in the last sentence of this paragraph), for the benefit of the
        Trustee
        and the Certificateholders, shall enforce the obligations of each Sub-Servicer
        under the related Sub-Servicing Agreement, including, without limitation,
        any
        obligation to make advances in respect of delinquent payments as required
        by a
        Sub-Servicing Agreement. Such enforcement, including, without limitation,
        the
        legal prosecution of claims, termination of Sub-Servicing Agreements, and
        the
        pursuit of other appropriate remedies, shall be in such form and carried
        out to
        such an extent and at such time as the Servicer, in its good faith business
        judgment, would require were it the owner of the related Mortgage Loans.
        The
        Servicer shall pay the costs of such enforcement at its own expense, and
        shall
        be reimbursed therefor only (i) from a general recovery resulting from such
        enforcement, to the extent, if any, that such recovery exceeds all amounts
        due
        in respect of the related Mortgage Loans, or (ii) from a specific recovery
        of
        costs, expenses or attorneys’ fees against the party against whom such
        enforcement is directed.

       

      
        	
              	SECTION
                3.03	
                Successor
                  Sub-Servicers.

              

      

       

      The
        Servicer shall be entitled to terminate any Sub-Servicing Agreement and the
        rights and obligations of any Sub-Servicer pursuant to any Sub-Servicing
        Agreement in accordance with the terms and conditions of such Sub-Servicing
        Agreement. In the event of termination of any Sub-Servicer, all servicing
        obligations of such Sub-Servicer shall be assumed simultaneously by the Servicer
        without any act or deed on the part of such Sub-Servicer or the Servicer,
        and
        the Servicer either shall service directly the related Mortgage Loans or
        shall
        enter into a Sub-Servicing Agreement with a successor Sub-Servicer which
        qualifies under Section 3.02.

       

      Any
        Sub-Servicing Agreement shall include the provision that such agreement may
        be
        immediately terminated by the Trustee or the Trust Administrator without
        fee, in
        accordance with the terms of this Agreement, in the event that the Servicer
        shall, for any reason, no longer be the Servicer (including termination due
        to a
        Servicer Event of Default).

       

      
        	
              	SECTION
                3.04	
                Liability
                  of the Servicer.

              

      

       

      Notwithstanding
        any Sub-Servicing Agreement, any of the provisions of this Agreement relating
        to
        agreements or arrangements between the Servicer and a Sub-Servicer or reference
        to actions taken through a Sub-Servicer or otherwise, the Servicer shall
        remain
        obligated and primarily liable to the Trustee and the Certificateholders
        for the
        servicing and administering of the Mortgage Loans in accordance with the
        provisions of Section 3.01 without diminution of such obligation or liability
        by
        virtue of such Sub-Servicing Agreements or arrangements or by virtue of
        indemnification from the Sub-Servicer and to the same extent and under the
        same
        terms and conditions as if the Servicer alone were servicing and administering
        the Mortgage Loans. The Servicer shall be entitled to enter into any agreement
        with a Sub- Servicer for indemnification of the Servicer by such Sub-Servicer
        and nothing contained in this Agreement shall be deemed to limit or modify
        such
        indemnification.

       

      
        	
              	SECTION
                3.05	
                No
                  Contractual Relationship Between Sub-Servicers and Trustee, Trust
                  Administrator or
                  Certificateholders.

              

      

       

      Any
        Sub-Servicing Agreement that may be entered into and any transactions or
        services relating to the Mortgage Loans involving a Sub-Servicer in its capacity
        as such shall be deemed to be between the Sub-Servicer and the Servicer alone,
        and the Trustee, the Trust Administrator and the Certificateholders shall
        not be
        deemed parties thereto and shall have no claims, rights, obligations, duties
        or
        liabilities with respect to the Sub-Servicer except as set forth in Section
        3.06. The Servicer shall be solely liable for all fees owed by it to any
        Sub-Servicer, irrespective of whether the Servicer’s compensation pursuant to
        this Agreement is sufficient to pay such fees.

       

      
        	
              	SECTION
                3.06	
                Assumption
                  or Termination of Sub-Servicing Agreements by Trust
                  Administrator.

              

      

       

      In
        the
        event the Servicer shall for any reason no longer be the servicer (including
        by
        reason of the occurrence of a Servicer Event of Default), the Trust
        Administrator or its designee shall thereupon assume all of the rights and
        obligations of the Servicer under each Sub-Servicing Agreement that the Servicer
        may have entered into, unless the Trust Administrator elects to terminate
        any
        Sub-Servicing Agreement in accordance with its terms as provided in Section
        3.03. Upon such assumption, the Trust Administrator, its designee or the
        successor servicer for the Trust Administrator appointed pursuant to Section
        7.02 shall be deemed, subject to Section 3.03, to have assumed all of the
        Servicer’s interest therein and to have replaced the Servicer as a party to each
        Sub-Servicing Agreement to the same extent as if each Sub-Servicing Agreement
        had been assigned to the assuming party, except that (i) the Servicer shall
        not
        thereby be relieved of any liability or obligations under any Sub-Servicing
        Agreement and (ii) none of the Trust Administrator, its designee or any
        successor Servicer shall be deemed to have assumed any liability or obligation
        of the Servicer that arose before it ceased to be the Servicer.

       

      The
        Servicer at its expense shall, upon request of the Trust Administrator, deliver
        to the assuming party all documents and records relating to each Sub-Servicing
        Agreement and the Mortgage Loans then being serviced and an accounting of
        amounts collected and held by or on behalf of it, and otherwise use its best
        efforts to effect the orderly and efficient transfer of the Sub- Servicing
        Agreements to the assuming party.

       

      
        	
              	SECTION
                3.07	
                Collection
                  of Certain Mortgage Loan Payments.

              

      

       

      The
        Servicer shall make reasonable efforts to collect all payments called for
        under
        the terms and provisions of the Mortgage Loans, and shall, to the extent
        such
        procedures shall be consistent with this Agreement and the terms and provisions
        of any applicable insurance policies (including the PMI Policy), follow such
        collection procedures as it would follow with respect to mortgage loans
        comparable to the Mortgage Loans and held for its own account. Consistent
        with
        the foregoing and the servicing standards set forth in Section 3.01, the
        Servicer may in its discretion (i) waive any late payment charge or, if
        applicable, penalty interest or (ii) extend the due dates for Monthly Payments
        due on a Mortgage Note for a period of not greater than 180 days; provided
        that
        any extension pursuant to clause (ii) above shall not affect the amortization
        schedule of any Mortgage Loan for purposes of any computation hereunder,
        except
        as provided below. In the event of any such arrangement pursuant to clause
        (ii)
        above, the Servicer shall make timely advances on such Mortgage Loan during
        such
        extension pursuant to Section 4.03 and in accordance with the amortization
        schedule of such Mortgage Loan without modification thereof by reason of
        such
        arrangements. Notwithstanding the foregoing, in the event that any Mortgage
        Loan
        is in default or, in the judgment of the Servicer, such default is reasonably
        foreseeable, the Servicer, consistent with the standards set forth in Section
        3.01, may waive,
        modify or vary any term of such Mortgage Loan (including, but not limited
        to,
        modifications that change the Mortgage Rate, forgive the payment of principal
        or
        interest or extend the final maturity date of such Mortgage Loan), accept
        payment from the related Mortgagor of an amount less than the Stated Principal
        Balance in final satisfaction of such Mortgage Loan (such payment, a “Short
        Pay-off”) or consent to the postponement of strict compliance with any such term
        or otherwise grant indulgence to any Mortgagor, if
        in the
        Servicer’s determination such waiver, modification, postponement or indulgence
        is not materially adverse to the interests of the Certificateholders (taking
        into account any estimated Realized Loss that might result absent such action);
        provided, however, the Servicer shall not modify any Mortgage Loan in a manner
        that would capitalize the amount of any unpaid Monthly Payments or tax or
        insurance payments advanced by the Servicer on the Mortgagor’s behalf unless the
        related Mortgagor shall have remitted an amount equal to a full Monthly Payment
        (or, in the case of any Mortgage Loan subject to a forbearance plan or
        bankruptcy plan, a full modified monthly payment under such plan) in each
        of the
        three calendar months immediately preceding the month of such modification.
        

       

      
        	
              	SECTION
                3.08	
                Sub-Servicing
                  Accounts.

              

      

       

      In
        those
        cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a
        Sub-Servicing Agreement, the Sub-Servicer will be required to establish and
        maintain one or more accounts (collectively, the “Sub-Servicing Account”). The
        Sub-Servicing Account shall be an Eligible Account and shall comply with
        all
        requirements of this Agreement relating to the Collection Account. The
        Sub-Servicer shall deposit in the Sub-Servicing Account, in no event more
        than
        two Business Days after the Sub-Servicer’s receipt thereof, all proceeds of
        Mortgage Loans received by the Sub-Servicer less its servicing compensation
        to
        the extent permitted by the Sub-Servicing Agreement. The Sub-Servicer shall
        thereafter remit such proceeds to the Servicer for deposit in the Collection
        Account not later than two Business Days after the deposit of such amounts
        in
        the Sub-Servicing Account. For purposes of this Agreement, the Servicer shall
        be
        deemed to have received payments on the Mortgage Loans when the Sub-Servicer
        receives such payments.

       

      
        	
              	SECTION
                3.09	
                Collection
                  of Taxes, Assessments and Similar Items; Servicing
                  Accounts.

              

      

       

      To
        the
        extent the terms of a Mortgage provide for Escrow Payments, the Servicer
        shall
        establish and maintain one or more accounts (the “Servicing Accounts”), into
        which all collections from the Mortgagors (or related advances from
        Sub-Servicers) for the payment of taxes, assessments, fire, flood, and hazard
        insurance premiums, hazard insurance proceeds (to the extent such amounts
        are to
        be applied to the restoration or repair of the property) and comparable items
        for the account of the Mortgagors (“Escrow Payments”) shall be deposited and
        retained. Servicing Accounts shall be Eligible Accounts. The Servicer shall
        deposit in the Servicing Accounts on a daily basis and in no event later
        than
        the second Business Day after receipt, and retain therein, all Escrow Payments
        collected on account of the Mortgage Loans, for the purpose of effecting
        the
        timely payment of any such items as required under the terms of this Agreement.
        Withdrawals of amounts from a Servicing Account may be made only to (i) effect
        timely payment of taxes, assessments, fire, flood, and hazard insurance
        premiums, and comparable items; (ii) reimburse the Servicer out of related
        collections for any advances made pursuant to Section 3.01 (with respect
        to
        taxes and assessments) and Section 3.14 (with respect to fire, flood and
        hazard
        insurance); (iii) refund to Mortgagors any sums as may be determined to be
        overages; (iv) pay interest, if required and as described below, to Mortgagors
        on balances in the Servicing Account; or (v) clear and terminate the Servicing
        Account at the termination of the Servicer’s obligations and responsibilities in
        respect of the Mortgage Loans under this Agreement in accordance with Article
        IX. As part of its servicing duties, the Servicer shall pay to the Mortgagors
        interest on funds in Servicing Accounts, to the extent required by law and,
        to
        the extent that interest earned on funds in the Servicing Accounts is
        insufficient, to pay such interest from its or their own funds, without any
        reimbursement therefor. Notwithstanding the foregoing, the Servicer shall
        not be
        obligated to collect Escrow Payments if the related Mortgage Loan does not
        require such payments but the Servicer shall nevertheless be obligated to
        make
        Servicing Advances as provided in Section 3.01. In the event the Servicer
        shall
        deposit in the Servicing Accounts any amount not required to be deposited
        therein, it may at any time withdraw such amount from the Servicing Accounts,
        any provision to the contrary notwithstanding.

       

      To
        the
        extent that a Mortgage does not provide for Escrow Payments, the Servicer
        (i)
        shall determine whether any such payments are made by the Mortgagor in a
        manner
        and at a time that is necessary to avoid the loss of the Mortgaged Property
        due
        to a tax sale or the foreclosure as a result of a tax lien and (ii) shall
        ensure
        that all insurance required to be maintained on the Mortgaged Property pursuant
        to this Agreement is maintained. If any such payment has not been made and
        the
        Servicer receives notice of a tax lien with respect to the Mortgage Loan
        being
        imposed, the Servicer will, to the extent required to avoid loss of the
        Mortgaged Property, advance or cause to be advanced funds necessary to discharge
        such lien on the Mortgaged Property. The Servicer assumes full responsibility
        for the payment of all such bills and shall effect payments of all such bills
        irrespective of the Mortgagor’s faithful performance in the payment of same or
        the making of the Escrow Payments and shall make Servicing Advances from
        its own
        funds to effect such payments.

       

      
        	
              	SECTION
                3.10	
                Collection
                  Account and Distribution Account.

              

      

       

      (a)  On
        behalf
        of the Trust Fund, the Servicer shall establish and maintain one or more
        separate, segregated trust accounts (such account or accounts, the “Collection
        Account”), held in trust for the benefit of the Trust Administrator, the Trustee
        and the Certificateholders. On behalf of the Trust Fund, the Servicer shall
        deposit or cause to be deposited in the clearing account (which account must
        be
        an Eligible Account) in which it customarily deposits payments and collections
        on mortgage loans in connection with its mortgage loan servicing activities
        on a
        daily basis, and in no event more than two Business Days after the Servicer’s
        receipt thereof, and shall thereafter deposit in the Collection Account,
        in no
        event more than one Business Day after the deposit of such funds into the
        clearing account, as and when received or as otherwise required hereunder,
        the
        following payments and collections received or made by it from and after
        the
        Cut-off Date (other than in respect of principal or interest on the related
        Mortgage Loans due on or before the Cut-off Date), or payments (other than
        Principal Prepayments) received by it on or prior to the Cut-off Date but
        allocable to a Due Period subsequent thereto:

       

      (i)       
        all
        payments on account of principal, including Principal Prepayments (but not
        Prepayment Charges), on the Mortgage Loans;

       

      (ii)      
        all
        payments on account of interest (net of the related Servicing Fee) on each
        Mortgage Loan; 

       

      (iii)  all
        Insurance Proceeds and Liquidation Proceeds (other than proceeds collected
        in
        respect of any particular REO Property and amounts paid by the Servicer in
        connection with a purchase of Mortgage Loans and REO Properties pursuant
        to
        Section 9.01);

       

      (iv)  any
        amounts required to be deposited pursuant to Section 3.12 in connection with
        any
        losses realized on Permitted Investments with respect to funds held in the
        Collection Account;

       

      (v)  any
        amounts required to be deposited by the Servicer pursuant to the second
        paragraph of Section 3.14(a) in respect of any blanket policy
        deductibles;

       

      (vi)  all
        proceeds of any Mortgage Loan repurchased or purchased in accordance with
        Section 2.03 or Section 9.01; 

       

      (vii)     
        all
        amounts required to be deposited in connection with shortfalls in principal
        amount of Qualified Substitute Mortgage Loans pursuant to Section 2.03;

       

      (viii)     without
        duplication, all payments of claims under the PMI Policy; and

       

      (ix)       
        all
        Prepayment Charges collected by the Servicer and any Servicer Prepayment
        Charge
        Payment Amounts in connection with the Principal Prepayment of any of the
        Mortgage Loans.

       

      For
        purposes of the immediately preceding sentence, the Cut-off Date with respect
        to
        any Qualified Substitute Mortgage Loan shall be deemed to be the date of
        substitution.

       

      The
        foregoing requirements for deposit in the Collection Accounts shall be
        exclusive, it being understood and agreed that, without limiting the generality
        of the foregoing, payments in the nature of late payment charges or assumption
        fees (other than Prepayment Charges) need not be deposited by the Servicer
        in
        the Collection Account. In the event the Servicer shall deposit in the
        Collection Account any amount not required to be deposited therein, it may
        at
        any time withdraw such amount from the Collection Account, any provision
        herein
        to the contrary notwithstanding.

       

      (b)  On
        behalf
        of the Trust Fund, the Trust Administrator, as agent for the Trustee, shall
        establish and maintain one or more separate, segregated trust accounts (such
        account or accounts, the “Distribution Account”), held in trust for the benefit
        of the Certificateholders. On behalf of the Trust Fund, the Servicer shall
        deliver to the Trust Administrator in immediately available funds for deposit
        in
        the Distribution Account (i) on the Servicer Remittance Date, that portion
        of
        the Available Distribution Amount (calculated without regard to the subtraction
        therefrom of the Credit Risk Manager Fee) for the related Distribution Date
        then
        on deposit in the Collection Account, the amount of all Prepayment Charges
        collected during the applicable Prepayment Period by the Servicer and Servicer
        Prepayment Charge Payment Amounts in connection with the Principal Prepayment
        of
        any of the Mortgage Loans then on deposit in the Collection Account and (ii)
        on
        each Business Day as of the commencement of which the balance on deposit
        in the
        Collection Account exceeds $75,000 following any withdrawals pursuant to
        the
        next succeeding sentence, the amount of such excess, but only if the Collection
        Account constitutes an Eligible Account solely pursuant to clause (ii) of
        the
        definition of “Eligible Account.” If the balance on deposit in the Collection
        Account exceeds $75,000 as of the commencement of business on any Business
        Day
        and the Collection Account constitutes an Eligible Account solely pursuant
        to
        clause (ii) of the definition of “Eligible Account,” the Servicer shall, on or
        before 4:00 p.m. New York time on such Business Day, withdraw from the
        Collection Account any and all amounts payable or reimbursable to the Depositor,
        the Servicer, the Trustee, the Trust Administrator, the Sponsor or any
        Sub-Servicer pursuant to Section 3.11 and shall pay such amounts to the Persons
        entitled thereto.

       

      (c)  Funds
        in
        the Collection Account and the Distribution Account may be invested in Permitted
        Investments in accordance with the provisions set forth in Section 3.12.
        The
        Servicer shall give notice to the Trust Administrator and the Trust
        Administrator shall give notice to the Trustee and the Depositor of the location
        of the Collection Account maintained by it when established and prior to
        any
        change thereof. The Trust Administrator shall give notice to the Servicer,
        the
        Trustee and the Depositor of the location of the Distribution Account when
        established and prior to any change thereof.

       

      (d)  Funds
        held in the Collection Account at any time may be delivered by the Servicer
        to
        the Trust Administrator for deposit in an account (which may be the Distribution
        Account and must satisfy the standards for the Distribution Account as set
        forth
        in the definition thereof) and for all purposes of this Agreement shall be
        deemed to be a part of the Collection Account; provided, however, that the
        Trust
        Administrator shall have the sole authority to withdraw any funds held pursuant
        to this subsection (d). In the event the Servicer shall deliver to the Trust
        Administrator for deposit in the Distribution Account any amount not required
        to
        be deposited therein, it may at any time request that the Trust Administrator
        withdraw such amount from the Distribution Account and remit to it any such
        amount, any provision herein to the contrary notwithstanding. In addition,
        the
        Servicer shall deliver to the Trust Administrator from time to time for deposit,
        and upon written notification from the Servicer, the Trust Administrator
        shall
        so deposit, in the Distribution Account:

       

      (i)       any
        P&I Advances, as required pursuant to Section 4.03;

       

      (ii)      any
        amounts required to be deposited pursuant to Section 3.23(d) or (f) in
        connection with any REO Property;

       

      (iii)     any
        amounts to be paid by the Servicer in connection with a purchase of Mortgage
        Loans and REO Properties pursuant to Section 9.01;

       

      (iv)    
        any
        amounts required to be deposited pursuant to Section 3.24 in connection with
        any
        Prepayment Interest Shortfalls; and

       

      (v)      any
        Stayed Funds, as soon as permitted by the federal bankruptcy court having
        jurisdiction in such matters.

       

      (e)  Promptly
        upon receipt of any Stayed Funds, whether from the Servicer, a trustee in
        bankruptcy, or federal bankruptcy court or other source, the Trust Administrator
        shall deposit such funds in the Distribution Account, subject to withdrawal
        thereof as permitted hereunder. 

       

      (f)  The
        Servicer shall deposit in the Collection Account any amounts required to
        be
        deposited pursuant to Section 3.12(b) in connection with losses realized
        on
        Permitted Investments with respect to funds held in the Collection
        Account.

       

      
        	
              	SECTION
                3.11	
                Withdrawals
                  from the Collection Account and Distribution
                  Account.

              

      

       

      (a)  The
        Servicer shall, from time to time, make withdrawals from the Collection Account
        for any of the following purposes or as described in Section 4.03:

       

      (i)       
        to
        remit
        to the Trust Administrator for deposit in the Distribution Account the amounts
        required to be so remitted pursuant to Section 3.10(b) or permitted to be
        so
        remitted pursuant to the first sentence of Section 3.10(d);

       

      (ii)  subject
        to Section 3.16(d), to reimburse the Servicer for P&I Advances, but only to
        the extent of amounts received which represent Late Collections (net of the
        related Servicing Fees) of Monthly Payments on Mortgage Loans with respect
        to
        which such P&I Advances were made in accordance with the provisions of
        Section 4.03;

       

      (iii)  subject
        to Section 3.16(d), to pay the Servicer or any Sub-Servicer (A) any unpaid
        Servicing Fees, (B) any unreimbursed Servicing Advances with respect to each
        Mortgage Loan, but only to the extent of any Liquidation Proceeds, Insurance
        Proceeds or other amounts as may be collected by the Servicer from a Mortgagor,
        or otherwise received with respect to such Mortgage Loan and (C) without
        limiting any right of withdrawal set forth in clause (vi) below, any Servicing
        Advances made with respect to a Mortgage Loan that, following the final
        liquidation of a Mortgage Loan are Nonrecoverable Advances, but only to the
        extent that Late Collections, Liquidation Proceeds and Insurance Proceeds
        received with respect to such Mortgage Loan are insufficient to reimburse
        the
        Servicer or any Sub-Servicer for such Servicing Advances;

       

      (iv)  to
        pay to
        the Servicer as servicing compensation (in addition to the Servicing Fee)
        on the
        Servicer Remittance Date any interest or investment income earned on funds
        deposited in the Collection Account;

       

      (v)       
        to
        pay to
        the Servicer, the Depositor or the Sponsor, as the case may be, with respect
        to
        each Mortgage Loan that has previously been purchased or replaced pursuant
        to
        Section 2.03 all amounts received thereon subsequent to the date of purchase
        or
        substitution, as the case may be;

       

      (vi)  to
        reimburse the Servicer for any P&I Advance or Servicing Advance previously
        made which the Servicer has determined to be a Nonrecoverable Advance in
        accordance with the provisions of Section 4.03;

       

      (vii)  to
        reimburse the Servicer or the Depositor for expenses incurred by or reimbursable
        to the Servicer or the Depositor, as the case may be, pursuant to Section
        6.03;

       

      (viii)  to
        reimburse the Servicer, the Trust Administrator or the Trustee, as the case
        may
        be, for expenses reasonably incurred in respect of the breach or defect giving
        rise to the purchase obligation under Section 2.03 or Section 2.04 of this
        Agreement that were included in the Purchase Price of the Mortgage Loan,
        including any expenses arising out of the enforcement of the purchase
        obligation;

       

      (ix)        
        [reserved];

       

      (x)         
        to
        pay,
        or to reimburse the Servicer for advances in respect of expenses incurred
        in
        connection with any Mortgage Loan pursuant to Section 3.16(b); and

       

      (xi)        
        to
        clear
        and terminate the Collection Account pursuant to Section 9.01.

       

      The
        Servicer shall keep and maintain separate accounting, on a Mortgage Loan
        by
        Mortgage Loan basis, for the purpose of justifying any withdrawal from the
        Collection Account, to the extent held by or on behalf of it, pursuant to
        subclauses (ii), (iii), (iv), (v), (vi), (viii) and (ix) above. The Servicer
        shall provide written notification to the Trustee and the Trust Administrator,
        on or prior to the next succeeding Servicer Remittance Date, upon making
        any
        withdrawals from the Collection Account pursuant to subclause (vii)
        above.

       

      (b)  The
        Trust
        Administrator shall, from time to time, make withdrawals from the Distribution
        Account, for any of the following purposes, without priority:

       

      (i)       
        to
        make
        distributions to Certificateholders in accordance with Section
        4.01;

       

      (ii)       to
        pay to
        itself any interest income earned on funds deposited in the Distribution
        Account
        pursuant to Section 3.12(c);

       

      (iii)     
        to
        reimburse the Trust Administrator or the Trustee pursuant to Section
        7.02;

       

      (iv)      to
        pay
        any amounts in respect of taxes pursuant to 10.01(g)(iii);

       

      (v)      
        to
        pay
        any Extraordinary Trust Fund Expenses;

       

      (vi)     
        to
        reimburse the Trust Administrator or the Trustee for any P&I Advance made by
        it under Section 7.01 (if not reimbursed by the Servicer) to the same extent
        the
        Servicer would be entitled to reimbursement under Section 3.11(a);

       

      (vii)     
        to
        pay
        the Credit Risk Manager the Credit Risk Manager Fee and to pay the PMI Insurer
        the PMI Insurer Fee; and

       

      (viii)    
        to
        clear
        and terminate the Distribution Account pursuant to Section 9.01.

       

      
        	
              	SECTION
                3.12	
                Investment
                  of Funds in the Collection Account and the Distribution
                  Account.

              

      

       

      (a)  The
        Servicer may direct any depository institution maintaining the Collection
        Account (for purposes of this Section 3.12, an “Investment Account”), and the
        Trust Administrator may at the direction of the Depositor direct any depository
        institution maintaining the Distribution Account (for purposes of this Section
        3.12, also an “Investment Account”), to hold the funds in such Investment
        Account uninvested or to invest the funds in such Investment Account in one
        or
        more Permitted Investments specified in such instruction bearing interest
        or
        sold at a discount, and maturing, unless payable on demand, (i) no later
        than
        the Business Day immediately preceding the date on which such funds are required
        to be withdrawn from such account pursuant to this Agreement, if a Person
        other
        than the Trust Administrator is the obligor thereon, and (ii) no later than
        the
        date on which such funds are required to be withdrawn from such account pursuant
        to this Agreement, if the Trust Administrator is the obligor thereon. All
        such
        Permitted Investments shall be held to maturity, unless payable on demand.
        Any
        investment of funds in an Investment Account shall be made in the name of
        the
        Trust Administrator (in its capacity as such) or in the name of a nominee
        of the
        Trust Administrator. The Trust Administrator shall be entitled to sole
        possession (except with respect to investment direction of funds held in
        the
        Collection Account and the Distribution Account and any income and gain realized
        thereon) over each such investment, and any certificate or other instrument
        evidencing any such investment shall be delivered directly to the Trust
        Administrator or its agent, together with any document of transfer necessary
        to
        transfer title to such investment to the Trust Administrator or its nominee.
        In
        the event amounts on deposit in an Investment Account are at any time invested
        in a Permitted Investment payable on demand, the Trust Administrator
        shall:

       

      (x)  consistent
        with any notice required to be given thereunder, demand that payment thereon
        be
        made on the last day such Permitted Investment may otherwise mature hereunder
        in
        an amount equal to the lesser of (1) all amounts then payable thereunder
        and (2)
        the amount required to be withdrawn on such date; and

       

      (y)  demand
        payment of all amounts due thereunder promptly upon determination by a
        Responsible Officer of the Trust Administrator that such Permitted Investment
        would not constitute a Permitted Investment in respect of funds thereafter
        on
        deposit in the Investment Account.

       

      (b)  All
        income and gain realized from the investment of funds deposited in the
        Collection Account held by or on behalf of the Servicer, shall be for the
        benefit of the Servicer and shall be subject to its withdrawal in accordance
        with Section 3.11. The Servicer shall deposit in the Collection Account the
        amount of any loss of principal incurred in respect of any such Permitted
        Investment made with funds in such accounts immediately upon realization
        of such
        loss.

       

      (c)  All
        income and gain realized from the investment of funds deposited in the
        Distribution Account held by or on behalf of the Trust Administrator, shall
        be
        for the benefit of the Trust Administrator and shall be subject to its
        withdrawal at any time. The Trust Administrator shall deposit in the
        Distribution Account the amount of any loss of principal incurred in respect
        of
        any such Permitted Investment made with funds in such accounts immediately
        upon
        realization of such loss.

       

      (d)  Except
        as
        otherwise expressly provided in this Agreement, if any default occurs in
        the
        making of a payment due under any Permitted Investment, or if a default occurs
        in any other performance required under any Permitted Investment, the Trust
        Administrator may and, subject to Section 8.01 and Section 8.02(a)(v), upon
        the
        request of the Holders of Certificates representing more than 50% of the
        Voting
        Rights allocated to any Class of Certificates, shall take such action as
        may be
        appropriate to enforce such payment or performance, including the institution
        and prosecution of appropriate proceedings.

       

      
        	
              	SECTION
                3.13	
                [Reserved].

              

      

       

      
        	
              	SECTION
                3.14	
                Maintenance
                  of Hazard Insurance and Errors and Omissions and Fidelity
                  Coverage.

              

      

       

      (a)  The
        terms
        of each Mortgage Note require the related Mortgagor to maintain fire, flood
        and
        hazard insurance policies. To the extent such policies are not maintained,
        the
        Servicer shall cause to be maintained for each Mortgaged Property fire and
        hazard insurance with extended coverage as is customary in the area where
        the
        Mortgaged Property is located in an amount which is at least equal to the
        lesser
        of the current principal balance of such Mortgage Loan and the amount necessary
        to fully compensate for any damage or loss to the improvements which are
        a part
        of such property on a replacement cost basis, in each case in an amount not
        less
        than such amount as is necessary to avoid the application of any coinsurance
        clause contained in the related hazard insurance policy. The Servicer shall
        also
        cause to be maintained fire and hazard insurance on each REO Property with
        extended coverage as is customary in the area where the Mortgaged Property
        is
        located in an amount which is at least equal to the lesser of (i) the maximum
        insurable value of the improvements which are a part of such property and
        (ii)
        the outstanding principal balance of the related Mortgage Loan at the time
        it
        became an REO Property. The Servicer will comply in the performance of this
        Agreement with all reasonable rules and requirements of each insurer under
        any
        such hazard policies. Any amounts to be collected by the Servicer under any
        such
        policies (other than amounts to be applied to the restoration or repair of
        the
        property subject to the related Mortgage or amounts to be released to the
        Mortgagor in accordance with the procedures that the Servicer would follow
        in
        servicing loans held for its own account, subject to the terms and conditions
        of
        the related Mortgage and Mortgage Note) shall be deposited in the Collection
        Account, subject to withdrawal pursuant to Section 3.11, if received in respect
        of a Mortgage Loan, or in the REO Account, subject to withdrawal pursuant
        to
        Section 3.23, if received in respect of an REO Property. Any cost incurred
        by
        the Servicer in maintaining any such insurance shall not, for the purpose
        of
        calculating distributions to Certificateholders, be added to the unpaid
        principal balance of the related Mortgage Loan, notwithstanding that the
        terms
        of such Mortgage Loan so permit; provided, however, that the Servicer may
        capitalize the amount of any Servicing Advances incurred pursuant to this
        Section 3.14 in connection with the modification of a Mortgage Loan. It is
        understood and agreed that no earthquake or other additional insurance is
        to be
        required of any Mortgagor other than pursuant to such applicable laws and
        regulations as shall at any time be in force and as shall require such
        additional insurance. If the Mortgaged Property or REO Property is at any
        time
        in an area identified in the Federal Register by the Federal Emergency
        Management Agency as having special flood hazards, the Servicer will cause
        to be
        maintained a flood insurance policy in respect thereof. Such
        flood insurance shall be in an amount equal to the lesser of (i) the unpaid
        principal balance of the related Mortgage Loan and (ii) the maximum amount
        of
        such insurance available for the related Mortgaged Property under the national
        flood insurance program (assuming that the area in which such Mortgaged Property
        is located is participating in such program). Such
        flood insurance must also be equal to the replacement value or the maximum
        payable amount under the Flood Disaster Protection Act (FDPA).

       

      In
        the
        event that the Servicer shall obtain and maintain a blanket policy with an
        insurer having a General Policy Rating of B:VI or better in Best’s Key Rating
        Guide insuring against hazard losses on all of the Mortgage Loans, it shall
        conclusively be deemed to have satisfied its obligations as set forth in
        the
        first two sentences of this Section 3.14, it being understood and agreed
        that
        such policy may contain a deductible clause, in which case the Servicer shall,
        in the event that there shall not have been maintained on the related Mortgaged
        Property or REO Property a policy complying with the first two sentences
        of this
        Section 3.14, and there shall have been one or more losses which would have
        been
        covered by such policy, deposit to the Collection Account from its own funds
        the
        amount not otherwise payable under the blanket policy because of such deductible
        clause. In connection with its activities as administrator and servicer of
        the
        Mortgage Loans, the Servicer agrees to prepare and present, on behalf of
        itself,
        the Trustee, the Trust Fund and the Certificateholders, claims under any
        such
        blanket policy in a timely fashion in accordance with the terms of such
        policy.

       

      (b)  The
        Servicer shall keep in force during the term of this Agreement a policy or
        policies of insurance covering errors and omissions for failure in the
        performance of its respective obligations under this Agreement, which policy
        or
        policies shall be in such form and amount that would meet the requirements
        of
        Fannie Mae or Freddie Mac if it were the purchaser of the Mortgage Loans,
        unless
        the Servicer, has obtained a waiver of such requirements from Fannie Mae
        or
        Freddie Mac. The Servicer shall each also maintain a fidelity bond in the
        form
        and amount that would meet the requirements of Fannie Mae or Freddie Mac,
        unless
        the Servicer, has obtained a waiver of such requirements from Fannie Mae
        or
        Freddie Mac. The Servicer shall be deemed to have complied with this provision
        if an Affiliate of the Servicer, has such errors and omissions and fidelity
        bond
        coverage and, by the terms of such insurance policy or fidelity bond, the
        coverage afforded thereunder extends to the Servicer. Any such errors and
        omissions policy and fidelity bond shall by its terms not be cancelable without
        thirty days’ prior written notice to the Trustee and the Trust
        Administrator.

       

      
        	
              	SECTION
                3.15	
                Enforcement
                  of Due-On-Sale Clauses; Assumption
                  Agreements.

              

      

       

      The
        Servicer will, to the extent it has knowledge of any conveyance or prospective
        conveyance of any Mortgaged Property by any Mortgagor (whether by absolute
        conveyance or by contract of sale, and whether or not the Mortgagor remains
        or
        is to remain liable under the Mortgage Note and/or the Mortgage), exercise
        its
        rights to accelerate the maturity of such Mortgage Loan under the “due-on-sale”
clause, if any, applicable thereto; provided, however, that the Servicer
        shall
        not exercise any such rights if prohibited by law from doing so. If the Servicer
        reasonably believes it is unable under applicable law to enforce such
“due-on-sale” clause, or if any of the other conditions set forth in the proviso
        to the preceding sentence apply, the Servicer will enter into an assumption
        and
        modification agreement from or with the person to whom such property has
        been
        conveyed or is proposed to be conveyed, pursuant to which such person becomes
        liable under the Mortgage Note and, to the extent permitted by applicable
        state
        law, the Mortgagor remains liable thereon. The Servicer is also authorized
        to
        enter into a substitution of liability agreement with such person, pursuant
        to
        which the original Mortgagor is released from liability and such person is
        substituted as the Mortgagor and becomes liable under the Mortgage Note,
        provided that no such substitution shall be effective unless such person
        satisfies the then current underwriting criteria of the Servicer for mortgage
        loans similar to the Mortgage Loans. In connection with any assumption or
        substitution, the Servicer shall apply such underwriting standards and follow
        such practices and procedures as shall be normal and usual in its general
        mortgage servicing activities and as it applies to other mortgage loans owned
        solely by it. The Servicer shall not take or enter into any assumption and
        modification agreement, however, unless (to the extent practicable in the
        circumstances) it shall have received confirmation, in writing, of the continued
        effectiveness of any applicable hazard insurance policy. Any fee collected
        by
        the Servicer in respect of an assumption or substitution of liability agreement
        will be retained by the Servicer as additional servicing compensation. In
        connection with any such assumption, no material term of the Mortgage Note
        (including but not limited to the related Mortgage Rate and the amount of
        the
        Monthly Payment) may be amended or modified, except as otherwise required
        pursuant to the terms thereof. The Servicer shall notify the Trustee and
        the
        Trust Administrator that any such substitution or assumption agreement has
        been
        completed by forwarding to the Trust Administrator on behalf of the Trustee
        the
        executed original of such substitution or assumption agreement, which document
        shall be added to the related Mortgage File and shall, for all purposes,
        be
        considered a part of such Mortgage File to the same extent as all other
        documents and instruments constituting a part thereof.

       

      Notwithstanding
        the foregoing paragraph or any other provision of this Agreement, the Servicer
        shall not be deemed to be in default, breach or any other violation of its
        obligations hereunder by reason of any assumption of a Mortgage Loan by
        operation of law or by the terms of the Mortgage Note or any assumption which
        the Servicer may be restricted by law from preventing, for any reason whatever.
        For purposes of this Section 3.15, the term “assumption” is deemed to also
        include a sale (of the Mortgaged Property) subject to the Mortgage that is
        not
        accompanied by an assumption or substitution of liability
        agreement.

       

      
        	
              	SECTION
                3.16	
                Realization
                  Upon Defaulted Mortgage Loans.

              

      

       

      (a)  The
        Servicer shall, consistent with the servicing standard set forth in Section
        3.01, foreclose upon or otherwise comparably convert the ownership of properties
        securing such of the Mortgage Loans as come into and continue in default
        and as
        to which no satisfactory arrangements can be made for collection of delinquent
        payments pursuant to Section 3.07. The Servicer shall be responsible for
        all
        costs and expenses incurred by it in any such proceedings; provided, however,
        that such costs and expenses will be recoverable as Servicing Advances by
        the
        Servicer as contemplated in Section 3.11 and Section 3.23. The foregoing
        is
        subject to the provision that, in any case in which Mortgaged Property shall
        have suffered damage from an Uninsured Cause, the Servicer shall not be required
        to expend its own funds toward the restoration of such property unless it
        shall
        determine in its discretion that such restoration will increase the proceeds
        of
        liquidation of the related Mortgage Loan after reimbursement to itself for
        such
        expenses.

       

      (b)  Notwithstanding
        the foregoing provisions of this Section 3.16 or any other provision of this
        Agreement, with respect to any Mortgage Loan as to which the Servicer has
        received actual notice of, or has actual knowledge of, the presence of any
        toxic
        or hazardous substance on the related Mortgaged Property, the Servicer shall
        not, on behalf of the Trustee, either (i) obtain title to such Mortgaged
        Property as a result of or in lieu of foreclosure or otherwise, or (ii)
        otherwise acquire possession of, or take any other action with respect to,
        such
        Mortgaged Property, if, as a result of any such action, the Trustee, the
        Trust
        Fund, the Trust Administrator, the Servicer or the Certificateholders would
        be
        considered to hold title to, to be a “mortgagee-in-possession” of, or to be an
“owner” or “operator” of such Mortgaged Property within the meaning of the
        Comprehensive Environmental Response, Compensation and Liability Act of 1980,
        as
        amended from time to time, or any comparable law, unless the Servicer has
        also
        previously determined, based on its reasonable judgment and a report prepared
        by
        a Person who regularly conducts environmental audits using customary industry
        standards, that:

       

      (1) such
        Mortgaged Property is in compliance with applicable environmental laws or,
        if
        not, that it would be in the best economic interest of the Trust Fund to
        take
        such actions as are necessary to bring the Mortgaged Property into compliance
        therewith; and

       

      (2) there
        are
        no circumstances present at such Mortgaged Property relating to the use,
        management or disposal of any hazardous substances, hazardous materials,
        hazardous wastes, or petroleum-based materials for which investigation, testing,
        monitoring, containment, clean-up or remediation could be required under
        any
        federal, state or local law or regulation, or that if any such materials
        are
        present for which such action could be required, that it would be in the
        best
        economic interest of the Trust Fund to take such actions with respect to
        the
        affected Mortgaged Property.

       

      The
        cost
        of the environmental audit report contemplated by this Section 3.16 shall
        be
        advanced by the Servicer, subject to the Servicer’s right to be reimbursed
        therefor from the Collection Account as provided in Section 3.11(a)(ix),
        such
        right of reimbursement being prior to the rights of Certificateholders to
        receive any amount in the Collection Account received in respect of the affected
        Mortgage Loan or other Mortgage Loans.

       

      If
        the
        Servicer determines, as described above, that it is in the best economic
        interest of the Trust Fund to take such actions as are necessary to bring
        any
        such Mortgaged Property into compliance with applicable environmental laws,
        or
        to take such action with respect to the containment, clean-up or remediation
        of
        hazardous substances, hazardous materials, hazardous wastes or petroleum-based
        materials affecting any such Mortgaged Property, then the Servicer shall
        take
        such action as it deems to be in the best economic interest of the Trust
        Fund.
        The cost of any such compliance, containment, cleanup or remediation shall
        be
        advanced by the Servicer, subject to the Servicer’s right to be reimbursed
        therefor from the Collection Account as provided in Section 3.11(a)(ix),
        such
        right of reimbursement being prior to the rights of Certificateholders to
        receive any amount in the Collection Account received in respect of the affected
        Mortgage Loan or other Mortgage Loans.

       

      (c)  
        The
        Servicer shall have the right to purchase from REMIC I any defaulted Mortgage
        Loan that is 90 days or more delinquent, which the Servicer determines in
        good
        faith will otherwise become subject to foreclosure proceedings (evidence
        of such
        determination to be delivered in writing to the Trustee and the Trust
        Administrator, in form and substance satisfactory to the Trustee and the
        Trust
        Administrator prior to purchase), at a price equal to the Purchase Price.
        The
        Purchase Price for any Mortgage Loan purchased hereunder shall be deposited
        in
        the Collection Account, and the Trust Administrator, upon receipt of written
        certification from the Servicer of such deposit, shall release or cause to
        be
        released to the Servicer the related Mortgage File and the Trust Administrator,
        upon receipt of written certification from the Servicer of such deposit,
        shall
        execute and deliver such instruments of transfer or assignment, in each case
        without recourse, as the Servicer shall furnish and as shall be necessary
        to
        vest in the Servicer title to any Mortgage Loan released pursuant
        hereto.

       

      (d)  Proceeds
        received in connection with any Final Recovery Determination, as well as
        any
        recovery resulting from a partial collection of Insurance Proceeds or
        Liquidation Proceeds, in respect of any Mortgage Loan, will be applied in
        the
        following order of priority: first, to reimburse the Servicer or any
        Sub-Servicer for any related unreimbursed Servicing Advances and P&I
        Advances, pursuant to Section 3.11(a)(ii) or (a)(iii)(B); second, to accrued
        and
        unpaid interest on the Mortgage Loan, to the date of the Final Recovery
        Determination, or to the Due Date prior to the Distribution Date on which
        such
        amounts are to be distributed if not in connection with a Final Recovery
        Determination; and third, as a recovery of principal of the Mortgage Loan.
        If
        the amount of the recovery so allocated to interest is less than the full
        amount
        of accrued and unpaid interest due on such Mortgage Loan, the amount of such
        recovery will be allocated by the Servicer as follows: first, to unpaid
        Servicing Fees; and second, to the balance of the interest then due and owing.
        The portion of the recovery so allocated to unpaid Servicing Fees shall be
        reimbursed to the Servicer or any Sub-Servicer pursuant to Section
        3.11(a)(iii)(A).

       

      
        	
              	SECTION
                3.17	
                Trustee
                  to Cooperate; Release of Mortgage
                  Files.

              

      

       

      (a)  Upon
        the
        payment in full of any Mortgage Loan, or the receipt by the Servicer of a
        notification that payment in full shall be escrowed in a manner customary
        for
        such purposes, the Servicer will immediately notify the Custodian, on behalf
        of
        the Trustee, by a Request for Release in the form of Exhibit E (which
        certification shall include a statement to the effect that all amounts received
        or to be received in connection with such payment which are required to be
        deposited in the Collection Account pursuant to Section 3.10 have been or
        will
        be so deposited) of a Servicing Officer and shall request that the Custodian,
        on
        behalf of the Trustee, deliver to it the Mortgage File. Upon receipt of such
        certification and request, the Custodian, on behalf of the Trustee, shall
        release within two Business Days the related Mortgage File to the Servicer,
        and
        the Servicer is authorized to cause the removal from the registration on
        the
        MERS® System of any such Mortgage, if applicable, and to execute and deliver, on
        behalf of the Trustee and the Certificateholders or any of them, any and
        all
        instruments of satisfaction or cancellation or of partial or full release.
        No
        expenses incurred in connection with any instrument of satisfaction or deed
        of
        reconveyance shall be chargeable to the Collection Account or the Distribution
        Account.

       

      The
        Trustee (or the Custodian on its behalf) shall, at the written request and
        expense of any Certificateholder, provide a written report to such
        Certificateholder of all Mortgage Files released to the Servicer for servicing
        purposes.

       

      (b)  From
        time
        to time and as appropriate for the servicing or foreclosure of any Mortgage
        Loan, including, for this purpose, collection under any insurance policy
        relating to the Mortgage Loans, the Custodian, on behalf of the Trustee,
        shall,
        upon request of the Servicer and delivery to the Custodian and the Trustee
        of a
        Request for Release in the form of Exhibit E, release the related Mortgage
        File
        to the Servicer within two Business Days, and the Custodian, on behalf of
        the
        Trustee, shall, at the direction of the Servicer, execute such documents
        as
        shall be necessary to the prosecution of any such proceedings. Such Request
        for
        Release shall obligate the Servicer to return each and every document previously
        requested from the Mortgage File to the Custodian when the need therefor
        by the
        Servicer no longer exists, unless the Mortgage Loan has been liquidated and
        the
        Liquidation Proceeds relating to the Mortgage Loan have been deposited in
        the
        Collection Account or the Mortgage File or such document has been delivered
        to
        an attorney, or to a public trustee or other public official as required
        by law,
        for purposes of initiating or pursuing legal action or other proceedings
        for the
        foreclosure of the Mortgaged Property either judicially or non-judicially,
        and
        the Servicer has delivered to the Custodian, on behalf of the Trustee, a
        certificate of a Servicing Officer certifying as to the name and address
        of the
        Person to which such Mortgage File or such document was delivered and the
        purpose or purposes of such delivery. Upon receipt of a certificate of a
        Servicing Officer stating that such Mortgage Loan was liquidated and that
        all
        amounts received or to be received in connection with such liquidation that
        are
        required to be deposited into the Collection Account have been so deposited,
        or
        that such Mortgage Loan has become an REO Property, a copy of the Request
        for
        Release shall be released by the Custodian, on behalf of the Trustee, to
        the
        Servicer.

       

      (c)  Upon
        written certification of a Servicing Officer, the Trustee shall execute and
        deliver to the Servicer any court pleadings, requests for trustee’s sale or
        other documents reasonably necessary to the foreclosure or trustee’s sale in
        respect of a Mortgaged Property or to any legal action brought to obtain
        judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain
        a
        deficiency judgment, or to enforce any other remedies or rights provided
        by the
        Mortgage Note or Mortgage or otherwise available at law or in equity. Each
        such
        certification shall include a request that such pleadings or documents be
        executed by the Trustee and a statement as to the reason such documents or
        pleadings are required and that the execution and delivery thereof by the
        Trustee will not invalidate or otherwise affect the lien of the Mortgage,
        except
        for the termination of such a lien upon completion of the foreclosure or
        trustee’s sale.

       

      
        	
              	SECTION
                3.18	
                Servicing
                  Compensation.

              

      

       

      As
        compensation for the activities of the Servicer hereunder, the Servicer shall
        be
        entitled to the Servicing Fee with respect to each Mortgage Loan payable
        solely
        from payments of interest in respect of such Mortgage Loan, subject to Section
        3.24. In addition, the Servicer shall be entitled to recover unpaid Servicing
        Fees out of Insurance Proceeds or Liquidation Proceeds to the extent permitted
        by Section 3.11(a)(iii)(A) and out of amounts derived from the operation
        and
        sale of an REO Property to the extent permitted by Section 3.23. The right
        to
        receive the Servicing Fee may not be transferred in whole or in part except
        in
        connection with the transfer of all of the Servicer’s responsibilities and
        obligations under this Agreement.

       

      Additional
        servicing compensation in the form of assumption fees, late payment charges
        and
        other similar fees and charges (other than Prepayment Charges) shall be retained
        by the Servicer (subject to Section 3.24) only to the extent such fees or
        charges are received by the Servicer. The Servicer shall also be entitled
        pursuant to Section 3.11(a)(iv) to withdraw from the Collection Account,
        and
        pursuant to Section 3.23(b) to withdraw from any REO Account, as additional
        servicing compensation, interest or other income earned on deposits therein,
        subject to Section 3.12 and Section 3.24. The Servicer shall be required
        to pay
        all expenses incurred by it in connection with its servicing activities
        hereunder (including premiums for the insurance required by Section 3.14,
        to the
        extent such premiums are not paid by the related Mortgagors or by a
        Sub-Servicer, servicing compensation of each Sub-Servicer, and to the extent
        provided herein in Section 8.05, the fees and expenses of the Trustee and
        the
        Trust Administrator) and shall not be entitled to reimbursement therefor
        except
        as specifically provided herein.

       

      
        	
              	SECTION
                3.19	
                Reports
                  to the Trust Administrator; Collection Account
                  Statements.

              

      

       

      Not
        later
        than fifteen days after each Distribution Date, the Servicer shall forward
        to
        the Trust Administrator, upon the request of the Trust Administrator, a
        statement prepared by the Servicer setting forth the status of the Collection
        Account as of the close of business on the last day of the calendar month
        relating to such Distribution Date and showing, for the period covered by
        such
        statement, the aggregate amount of deposits into and withdrawals from the
        Collection Account of each category of deposit specified in Section 3.10(a)
        and
        each category of withdrawal specified in Section 3.11. Such statement may
        be in
        the form of the then current Fannie Mae Monthly Accounting Report for its
        Guaranteed Mortgage Pass-Through Program with appropriate additions and changes,
        and shall also include information as to the aggregate of the outstanding
        principal balances of all of the Mortgage Loans as of the last day of the
        calendar month immediately preceding such Distribution Date. Copies of such
        statement shall be provided by the Trust Administrator to any Certificateholder
        and to any Person identified to the Trust Administrator as a prospective
        transferee of a Certificate, upon the request and at the expense of the
        requesting party, provided such statement is delivered by the Servicer to
        the
        Trust Administrator.

       

      
        	
              	SECTION
                3.20	
                Statement
                  as to Compliance.

              

      

       

      The
        Servicer shall deliver to the Trust Administrator, on or before March
        15th
        of each
        calendar year beginning in 2008, an Officers’ Certificate (an “Annual Statement
        of Compliance”) stating, as to each signatory thereof, that (i) a review of the
        activities of the Servicer during the preceding calendar year and of performance
        under this Agreement has been made under such officers’ supervision and (ii) to
        the best of such officers’ knowledge, based on such review, the Servicer has
        fulfilled all of its obligations under this Agreement in all material respects
        throughout such year, or, if there has been a failure to fulfill any such
        obligation in any material respect, specifying each such failure known to
        such
        officer and the nature and status of cure provisions thereof. The Servicer
        shall
        deliver, or cause any Sub-Servicer to deliver, a similar Annual Statement
        of
        Compliance by any Sub-Servicer to which the Servicer has delegated any servicing
        responsibilities with respect to the Mortgage Loans, to the Trust Administrator
        as described above as and when required with respect to the Servicer.

       

      If
        the
        Servicer cannot deliver the related Annual Statement of Compliance by March
        15th
        of such year, the Trust Administrator, at its sole option, may permit a cure
        period for the Servicer to deliver such Annual Statement of Compliance, but
        in
        no event later than March 20th of such year.

       

      Failure
        of the Servicer to timely comply with this Section 3.20, which continues
        unremedied for ten (10) calendar days after the date on which the Annual
        Statement of Compliance was required to be delivered, shall be deemed an
        Event
        of Default, and upon the receipt of written notice from the Trust Administrator
        of such Event of Default, the Trustee may at the direction of the Depositor,
        in
        addition to whatever rights the Trustee may have under this Agreement and
        at law
        or equity or to damages, including injunctive relief and specific performance,
        upon notice immediately terminate all the rights and obligations of the Servicer
        under this Agreement and in and to the Mortgage Loans and the proceeds thereof
        without compensating the Servicer for the same; provided
        that to
        the extent that any provision of this Agreement expressly provides for the
        survival of certain rights or obligations following termination of the Servicer,
        such provision shall be given effect. This paragraph shall supersede any
        other
        provision in this Agreement or any other agreement to the contrary.

       

      The
        Servicer shall indemnify and hold harmless the Depositor, the Trust
        Administrator and their officers, directors and Affiliates from and against
        any
        actual losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal fees and related costs, judgments and other costs and expenses that
        such
        Person may sustain based upon a breach of the Servicer’s obligations under this
        Section 3.20.

       

      
        	
              	SECTION
                3.21	
                Assessments
                  of Compliance and Attestation
                  Reports.

              

      

       

      (a)  The
        Servicer shall service and administer the Mortgage Loans in accordance with
        all
        applicable requirements of the Servicing Criteria (as set forth in Exhibit
        C
        hereto). The Servicer shall deliver to the Trust Administrator on or before
        March 1st
        of each
        calendar year beginning in 2008, the following: 

       

      (i)  a
        report
        (an “Assessment of Compliance”) regarding the Servicer’s assessment of
        compliance with the Servicing Criteria during the immediately preceding calendar
        year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item
        1122 of Regulation AB. Such report shall be signed by an authorized officer
        of
        the Servicer, and shall address each of the Servicing Criteria set forth
        in
        Exhibit C hereto;

       

      (ii)  a
        report
        (an “Attestation Report”) of a registered public accounting firm reasonably
        acceptable to the Depositor that attests to, and reports on, the assessment
        of
        compliance made by the Servicer and delivered pursuant to the preceding
        paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3)
        and
        2-02(g) of Regulation S-X under the Securities Act and the Exchange Act;
        and

       

      (iii)  cause
        each Sub-Servicer, and each subcontractor determined by the Servicer to be
        “participating in the servicing function” within the meaning of Item 1122 of
        Regulation AB, to deliver an Assessment of Compliance and Attestation Report
        as
        and when provided in paragraphs (i) and (ii) of this Section
        3.21(a).

       

      (iv)  a
        statement as to which of the Servicing Criteria, if any, are not applicable
        to
        the Servicer, which statement shall be based on the activities it performs
        with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Servicer, that are backed by the same asset type as the Mortgage
        Loans.

       

      (b)  The
        Servicer shall, or shall cause any Sub-Servicer and each subcontractor
        determined by the Servicer to be “participating in the servicing function”
within the meaning of Item 1122 of Regulation AB to, deliver to the Trust
        Administrator and the Depositor an Assessment of Compliance and Attestation
        Report as and when provided above.

       

      Such
        Assessment of Compliance, as to any Sub-Servicer, shall at a minimum address
        each of the Servicing Criteria specified on Exhibit C hereto which are indicated
        as applicable to any “primary servicer.” Notwithstanding the foregoing, as to
        any subcontractor, an Assessment of Compliance is not required to be delivered
        unless it is required as part of a Form 10-K with respect to the Trust
        Fund.

       

      If
        the
        Servicer cannot deliver any Assessment of Compliance or Attestation Report
        by
        March 1st
        of such
        year, the Trust Administrator, at its sole option, may permit a cure period
        for
        the Servicer to deliver such Assessment of Compliance or Attestation Report,
        but
        in no event later than March 15th
        of such
        year.

       

      Failure
        of the Servicer to timely comply with this Section 3.21 shall be deemed a
        Servicer Event of Default, and upon the receipt of written notice from the
        Trust
        Administrator of such Event of Default, the Trustee at the direction of the
        Depositor may, in addition to whatever rights the Trustee may have under
        this
        Agreement and at law or equity or to damages, including injunctive relief
        and
        specific performance, upon notice immediately terminate all the rights and
        obligations of the Servicer under this Agreement and in and to the Mortgage
        Loans and the proceeds thereof without compensating the Servicer for the
        same;
        provided, however, the Depositor shall not be entitled to instruct the Trustee
        to terminate the rights and obligations of the Servicer pursuant to clause
        (iii)
        above if a failure of the Servicer to identify a subcontractor “participating in
        the servicing function” within the meaning of Item 1122 of Regulation AB was
        attributable solely to the role or functions of such subcontractor with respect
        to mortgage loans other than the Mortgage Loans. This paragraph shall supersede
        any other provision in this Agreement or any other agreement to the
        contrary.

       

      The
        Trust
        Administrator shall also provide an Assessment of Compliance and Attestation
        Report, as and when provided above, which shall at a minimum address each
        of the
        Servicing Criteria specified on Exhibit C hereto which are indicated as
        applicable to the “trust administrator.”

       

      The
        Servicer shall indemnify and hold harmless the Depositor and the Trust
        Administrator and their officers, directors and Affiliates from and against
        any
        actual losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal fees and related costs, judgments and other costs and expenses that
        such
        Person may sustain based upon a breach of the Servicer’s obligations, as
        applicable, under this Section 3.21.

       

      
        	
              	SECTION
                3.22	
                Access
                  to Certain Documentation.

              

      

       

      The
        Servicer shall provide to the Depositor, the Trust Administrator and the
        Trustee
        access to the documentation regarding the Mortgage Loans required by applicable
        laws and regulations. Such access shall be afforded without charge, but only
        upon reasonable request and during normal business hours at the offices of
        the
        Servicer designated by it. In addition, access to the documentation regarding
        the Mortgage Loans required by applicable laws and regulations will be provided
        to the Trustee or the Trust Administrator for purposes of any Person identified
        as a Certificateholder or any federal or state banking or insurance
        regulatory authority that may exercise authority over any Certificateholder
        or a
        prospective transferee of a Certificate or a subject to the execution of a
        confidentiality agreement in form and substance satisfactory to the Servicer,
        upon reasonable request during normal business hours at the offices of the
        Servicer designated by it at the expense of the Trustee or Trust Administrator.
        Nothing in this Section 3.22 shall derogate from the obligation of any such
        party to observe any applicable law prohibiting disclosure of information
        regarding the Mortgagors and the failure of any such party to provide access
        as
        provided in this Section as a result of such obligation shall not constitute
        a
        breach of this Section 3.22

       

      
        	
              	SECTION
                3.23	
                Title,
                  Management and Disposition of REO
                  Property.

              

      

       

      (a)  The
        deed
        or certificate of sale of any REO Property shall be taken in the name of
        the
        Trustee, or its nominee, in trust for the benefit of the Certificateholders.
        The
        Servicer, on behalf of the Trust Fund, shall either sell any REO Property
        before
        the close of the third taxable year following the year the Trust Fund acquires
        ownership of such REO Property for purposes of Section 860G(a)(8) of the
        Code or
        request from the Internal Revenue Service, no later than 60 days before the
        day
        on which the above three-year grace period would otherwise expire, an extension
        of the above three-year grace period, unless the Servicer shall have delivered
        to the Trustee, the Trust Administrator and the Depositor an Opinion of Counsel,
        addressed to the Trustee, the Trust Administrator and the Depositor, to the
        effect that the holding by the Trust Fund of such REO Property subsequent
        to the
        close of the third taxable year after its acquisition will not result in
        the
        imposition on the Trust Fund of taxes on “prohibited transactions” thereof, as
        defined in Section 860F of the Code, or cause any Trust REMIC to fail to
        qualify
        as a REMIC under Federal law at any time that any Certificates are outstanding.
        The Servicer shall manage, conserve, protect and operate each REO Property
        for
        the Certificateholders solely for the purpose of its prompt disposition and
        sale
        in a manner which does not cause such REO Property to fail to qualify as
        “foreclosure property” within the meaning of Section 860G(a)(8) of the Code or
        result in the receipt by any Trust REMIC of any “income from non-permitted
        assets” within the meaning of Section 860F(a)(2)(B) of the Code, or any “net
        income from foreclosure property” which is subject to taxation under the REMIC
        Provisions.

       

      (b)  The
        Servicer shall segregate and hold all funds collected and received in connection
        with the operation of any REO Property separate and apart from its own funds
        and
        general assets and shall establish and maintain with respect to REO Properties
        an account held in trust for the Trustee for the benefit of the
        Certificateholders (the “REO Account”), which shall be an Eligible Account. The
        Servicer shall be permitted to allow the Collection Account to serve as the
        REO
        Account, subject to separate ledgers for each REO Property. The Servicer
        shall
        be entitled to retain or withdraw any interest income paid on funds deposited
        in
        the REO Account.

       

      (c)  The
        Servicer shall have full power and authority, subject only to the specific
        requirements and prohibitions of this Agreement, to do any and all things
        in
        connection with any REO Property as are consistent with the manner in which
        the
        Servicer manages and operates similar property owned by the Servicer or any
        of
        its Affiliates, all on such terms and for such period as the Servicer deems
        to
        be in the best interests of Certificateholders. In connection therewith,
        the
        Servicer shall deposit, or cause to be deposited in the clearing account
        (which
        account must be an Eligible Account) in which it customarily deposits payments
        and collections on mortgage loans in connection with its mortgage loan servicing
        activities on a daily basis, and in no event more than two Business Days
        after
        the Servicer’s receipt thereof, and shall thereafter deposit in the REO Account,
        in no event more than one Business Day after the deposit of such funds into
        the
        clearing account, all revenues received by it with respect to an REO Property
        and shall withdraw therefrom funds necessary for the proper operation,
        management and maintenance of such REO Property including, without
        limitation:

       

      (i)  all
        insurance premiums due and payable in respect of such REO Property;

       

      (ii)  all
        real
        estate taxes and assessments in respect of such REO Property that may result
        in
        the imposition of a lien thereon; and

       

      (iii)  all
        costs
        and expenses necessary to maintain such REO Property.

       

      To
        the
        extent that amounts on deposit in the REO Account with respect to an REO
        Property are insufficient for the purposes set forth in clauses (i) through
        (iii) above with respect to such REO Property, the Servicer shall advance
        from
        its own funds such amount as is necessary for such purposes if, but only
        if, the
        Servicer would make such advances if the Servicer owned the REO Property
        and if
        in the Servicer’s judgment, the payment of such amounts will be recoverable from
        the rental or sale of the REO Property.

       

      Notwithstanding
        the foregoing, none of the Servicer, the Trust Administrator or the Trustee
        shall:

       

      (i)  authorize
        the Trust Fund to enter into, renew or extend any New Lease with respect
        to any
        REO Property, if the New Lease by its terms will give rise to any income
        that
        does not constitute Rents from Real Property;

       

      (ii)  authorize
        any amount to be received or accrued under any New Lease other than amounts
        that
        will constitute Rents from Real Property;

       

      (iii)  authorize
        any construction on any REO Property, other than the completion of a building
        or
        other improvement thereon, and then only if more than ten percent of the
        construction of such building or other improvement was completed before default
        on the related Mortgage Loan became imminent, all within the meaning of Section
        856(e)(4)(B) of the Code; or

       

      (iv)  authorize
        any Person to Directly Operate any REO Property on any date more than 90
        days
        after its date of acquisition by the Trust Fund;

       

      unless,
        in any such case, the Servicer has obtained an Opinion of Counsel, provided
        to
        the Trust Administrator and the Trustee, to the effect that such action will
        not
        cause such REO Property to fail to qualify as “foreclosure property” within the
        meaning of Section 860G(a)(8) of the Code at any time that it is held by
        the
        Trust Fund, in which case the Servicer may take such actions as are specified
        in
        such Opinion of Counsel.

       

      The
        Servicer may contract with any Independent Contractor for the operation and
        management of any REO Property, provided that:

       

      (v)  the
        terms
        and conditions of any such contract shall not be inconsistent
        herewith;

       

      (vi)  any
        such
        contract shall require, or shall be administered to require, that the
        Independent Contractor pay all costs and expenses incurred in connection
        with
        the operation and management of such REO Property, including those listed
        above
        and remit all related revenues (net of such costs and expenses) to the Servicer
        as soon as practicable, but in no event later than thirty days following
        the
        receipt thereof by such Independent Contractor;

       

      (vii)  none
        of
        the provisions of this Section 3.23(c) relating to any such contract or to
        actions taken through any such Independent Contractor shall be deemed to
        relieve
        the Servicer of any of its duties and obligations to the Trustee on behalf
        of
        the Certificateholders with respect to the operation and management of any
        such
        REO Property; and

       

      (viii)  the
        Servicer shall be obligated with respect thereto to the same extent as if
        it
        alone were performing all duties and obligations in connection with the
        operation and management of such REO Property.

       

      The
        Servicer shall be entitled to enter into any agreement with any Independent
        Contractor performing services for it related to its duties and obligations
        hereunder for indemnification of the Servicer by such Independent Contractor,
        and nothing in this Agreement shall be deemed to limit or modify such
        indemnification. The Servicer shall be solely liable for all fees owed by
        it to
        any such Independent Contractor, irrespective of whether the Servicer’s
        compensation pursuant to Section 3.18 is sufficient to pay such fees.

       

      (d)  In
        addition to the withdrawals permitted under Section 3.23(c), the Servicer
        may
        from time to time make withdrawals from the REO Account for any REO Property:
        (i) to pay itself or any Sub-Servicer unpaid Servicing Fees in respect of
        the
        related Mortgage Loan; and (ii) to reimburse itself or any Sub-Servicer for
        unreimbursed Servicing Advances and P&I Advances made in respect of such REO
        Property or the related Mortgage Loan. Any income from the related REO Property
        received during any calendar months prior to a Final Recovery Determination,
        net
        of any withdrawals made pursuant to Section 3.23(c) or this Section 3.23(d),
        shall be withdrawn by the Servicer from each REO Account maintained by it
        and
        remitted to the Trust Administrator for deposit into the Distribution Account
        in
        accordance with Section 3.10(d)(ii) on the Servicer Remittance Date relating
        to
        a Final Recovery Determination with respect to such Mortgage Loan, for
        distribution on the related Distribution Date in accordance with Section
        4.01.

       

      (e)  Subject
        to the time constraints set forth in Section 3.23(a), and further subject
        to
        obtaining the approval of the insurer under any related Primary Mortgage
        Insurance Policy (if and to the extent that such approvals are necessary
        to make
        claims under such policies in respect of the affected REO Property), each
        REO
        Disposition shall be carried out by the Servicer at such price and upon such
        terms and conditions as the Servicer shall deem necessary or advisable, as
        shall
        be normal and usual in its general servicing activities for similar
        properties.

       

      (f)  The
        proceeds from the REO Disposition, net of any amount required by law to be
        remitted to the Mortgagor under the related Mortgage Loan and net of any
        payment
        or reimbursement to the Servicer or any Sub-Servicer as provided above, shall
        be
        remitted to the Trust Administrator for deposit in the Distribution Account
        in
        accordance with Section 3.10(d)(ii) on the Servicer Remittance Date in the
        month
        following the receipt thereof for distribution on the related Distribution
        Date
        in accordance with Section 4.01. Any REO Disposition shall be for cash only
        (unless changes in the REMIC Provisions made subsequent to the Startup Day
        allow
        a sale for other consideration).

       

      (g)  The
        Servicer shall file information returns with respect to the receipt of mortgage
        interest received in a trade or business, reports of foreclosures and
        abandonments of any Mortgaged Property and cancellation of indebtedness income
        with respect to any Mortgaged Property as required by Sections 6050H, 6050J
        and
        6050P of the Code, respectively. Such reports shall be in form and substance
        sufficient to meet the reporting requirements imposed by such Sections 6050H,
        6050J and 6050P of the Code.

       

      
        	
              	SECTION
                3.24	
                Obligations
                  of the Servicer in Respect of Prepayment Interest
                  Shortfalls.

              

      

       

      The
        Servicer shall deliver to the Trust Administrator for deposit into the
        Distribution Account on the Servicer Remittance Date from its own funds (or
        from
        a Sub-Servicer’s own funds received by the Servicer in respect of Compensating
        Interest) an amount equal to the lesser of (i) the aggregate of the Prepayment
        Interest Shortfalls for the related Distribution Date resulting from full
        or
        partial Principal Prepayments during the related Prepayment Period and (ii)
        the
        applicable Compensating Interest Payment.

       

      
        	
              	SECTION
                3.25	
                Obligations
                  of the Servicer in Respect of Monthly
                  Payments.

              

      

       

      In
        the
        event that a shortfall in any collection on or liability with respect to
        any
        Mortgage Loan results from or is attributable to adjustments to Mortgage
        Rates,
        Monthly Payments or Stated Principal Balances that were made by the Servicer
        in
        a manner not consistent with the terms of the related Mortgage Note and this
        Agreement, the Servicer, upon discovery or receipt of notice thereof,
        immediately shall deliver to the Trust Administrator for deposit in the
        Distribution Account from its own funds the amount of any such shortfall
        and
        shall indemnify and hold harmless the Trust Fund, the Trustee, the Trust
        Administrator, the Depositor and any successor servicer in respect of any
        such
        liability. Such indemnities shall survive the termination or discharge of
        this
        Agreement. If amounts paid by the Servicer with respect to any Mortgage Loan
        pursuant to this Section 3.25 are subsequently recovered from the related
        Mortgagor, the Servicer shall be permitted to reimburse itself for such amounts
        paid by it pursuant to this Section 3.25 from such recoveries. 

       

      
        	
              	SECTION
                3.26	
                Advance
                  Facility.

              

      

       

      (a)  Either
        (i) the Servicer or (ii) the Trust Administrator, on behalf of the Trust
        Fund,
        with the consent of and at the direction of the Servicer, is hereby authorized
        to enter into a facility with any Person which provides that such Person
        (an
“Advancing Person”) may fund P&I Advances and/or Servicing Advances to the
        Trust Fund under this Agreement, although no such facility shall reduce or
        otherwise affect the Servicer’s obligation to fund such P&I Advances and/or
        Servicing Advances. If the Servicer enters into such an Advance Facility
        pursuant to this Section 3.26, upon reasonable request of the Advancing Person,
        the Trust Administrator shall execute a letter of acknowledgment, confirming
        its
        receipt of notice of the existence of such Advance Facility. If the Trust
        Administrator enters into such an Advance Facility pursuant to this Section
        3.26, the Servicer shall also be a party to such Advance Facility. To the
        extent
        that an Advancing Person funds any P&I Advance or any Servicing Advance and
        provides the Trust Administrator with notice acknowledged by the Servicer
        that
        such Advancing Person is entitled to reimbursement, such Advancing Person
        shall
        be entitled to receive reimbursement pursuant to this Agreement for such
        amount
        to the extent provided in Section 3.26(b). Such notice from the Advancing
        Person
        must specify the amount of the reimbursement, the Section of this Agreement
        that
        permits the applicable P&I Advance or Servicing Advance to be reimbursed and
        the section(s) of the Advance Facility that entitle the Advancing Person
        to
        request reimbursement from the Trust Administrator, rather than the Servicer,
        and include the Servicer’s acknowledgment thereto or proof of an Event of
        Default under the Advance Facility. The Trust Administrator shall have no
        duty
        or liability with respect to any calculation of any reimbursement to be paid
        to
        an Advancing Person and shall be entitled to rely without independent
        investigation on the Advancing Person’s notice provided pursuant to this Section
        3.26. An Advancing Person whose obligations hereunder are limited to the
        funding
        of P&I Advances and/or Servicing Advances shall not be required to meet the
        qualifications of a Servicer or a Sub-Servicer pursuant to Section 3.02 hereof
        and will not be deemed to be a Sub-Servicer under this Agreement.

       

      (b)  If
        an
        advancing facility is entered into, then the Servicer shall not be permitted
        to
        reimburse itself therefor under Section 3.11(a)(ii), Section 3.11(a)(iii)
        and
        Section 3.11(a)(vi) prior to the remittance to the Trust Fund, but instead
        the
        Servicer shall include such amounts in the applicable remittance to the Trust
        Administrator made pursuant to Section 3.11(a). The Trust Administrator is
        hereby authorized to pay to the Advancing Person, reimbursements for P&I
        Advances and Servicing Advances from the Distribution Account to the same
        extent
        the Servicer would have been permitted to reimburse itself for such P&I
        Advances and/or Servicing Advances in accordance with Section 3.11(a)(ii),
        Section 3.11(a)(iii) and Section 3.11(a)(vi), as the case may be, had the
        Servicer itself funded such P&I Advance or Servicing Advance. The Trust
        Administrator is hereby authorized to pay directly to the Advancing Person
        such
        portion of the Servicing Fee as the parties to any advancing facility agree
        in
        writing.

       

      (c)  All
        P&I Advances and Servicing Advances made pursuant to the terms of this
        Agreement shall be deemed made and shall be reimbursed on a “first in-first out”
(FIFO) basis.

       

      (d)  Any
        amendment to this Section 3.26 or to any other provision of this Agreement
        that
        may be necessary or appropriate to effect the terms of an Advance Facility
        as
        described generally in this Section 3.26, including amendments to add provisions
        relating to a successor servicer, may be entered into by the Trustee, the
        Trust
        Administrator and the Servicer without the consent of any Certificateholder,
        notwithstanding anything to the contrary in this Agreement.

       

      
        	
              	SECTION
                3.27	
                PMI
                  Policy; Claims Under the PMI
                  Policy.

              

      

       

      Notwithstanding
        anything to the contrary elsewhere in this Agreement, the Servicer shall
        not
        take any action with respect to a Covered Mortgage Loan that could result
        in
        denial of coverage under the PMI Policy. The Servicer shall, on behalf of
        the
        Trustee, prepare and file on a timely basis with the PMI Insurer, all claims
        which may be made under the PMI Policy with respect to the Covered Mortgage
        Loans. Copies of any such claims will be provided to the Trustee and/or the
        Trust Administrator if reasonably requested. Consistent with all rights and
        obligations hereunder, the Servicer shall take all actions required under
        the
        PMI Policy as a condition to the payment of any such claim. Any amount received
        from the PMI Insurer with respect to any such Covered Mortgage Loan shall
        be
        deposited by the Trust Administrator into the Collection Account in accordance
        with Section 3.10(a). The Trust Administrator shall withdraw from the
        Distribution Account on each Distribution Date and pay to the PMI Insurer
        the
        PMI Insurer Fee in accordance with the terms of the PMI Policy.

       

      ARTICLE
        IV  

       

      PAYMENTS
        TO CERTIFICATEHOLDERS

       

      
        	
              	SECTION
                4.01	
                Distributions.

              

      

       

      (a)  (1)  On
        each
        Distribution Date, the Trust Administrator shall, first, withdraw from the
        Distribution Account an amount equal to the Credit Risk Manager Fee for such
        Distribution Date and shall pay such amount to the Credit Risk Manager and
        withdraw from the Distribution Account an amount equal to the PMI Insurer
        Fee
        for such Distribution Date and shall pay such amount to the PMI Insurer and,
        second, withdraw from the Distribution Account an amount equal to the Available
        Distribution Amount for such Distribution Date and shall distribute the
        following amounts, in the following order of priority:

       

      (I)  On
        each
        Distribution Date, the Interest Remittance Amount shall be distributed to
        the
        Certificateholders in the following order of priority:

       

      (i)  concurrently,
        to the Holders of the Class A Certificates, on a pro
        rata
        basis
        based on the entitlement of each such Class, the Senior Interest Distribution
        Amount related to such Certificates; and

       

      (ii)  sequentially
        to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in
        an
        amount equal to the Interest Distribution Amount for each such
        Class.

       

      (2)(I) On
        each
        Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger
        Event
        is in effect, the Principal Distribution Amount shall be distributed in the
        following order of priority:

       

      (i)  to
        the
        Holders of the Class A Certificates (allocated among the Classes of Class
        A
        Certificates in the priority described in Section 4.01(a)(4) below), until
        the
        Certificate Principal Balances of such Classes have been reduced to zero;
        and

       

      (ii)  sequentially,
        to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
        Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in
        that
        order, in each case, until the Certificate Principal Balance of such Class
        has
        been reduced to zero.

       

      (II) On
        each
        Distribution Date (a) on or after the Stepdown Date and (b) on which a Trigger
        Event is not in effect, the Principal Distribution Amount shall be distributed
        in the following order of priority:

       

      (i)  to
        the
        Holders of the Class A Certificates (allocated among the Classes of Class
        A
        Certificates in the priority described in Section 4.01(a)(4) below), the
        Senior
        Principal Distribution Amount, until the Certificate Principal Balances of
        such
        Classes have been reduced to zero;

       

      (ii)  to
        the
        Holders of the Class M-1 Certificates, the Class M-1 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (iii)  to
        the
        Holders of the Class M-2 Certificates, the Class M-2 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (iv)  to
        the
        Holders of the Class M-3 Certificates, the Class M-3 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (v)  to
        the
        Holders of the Class M-4 Certificates, the Class M-4 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (vi)  to
        the
        Holders of the Class M-5 Certificates, the Class M-5 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (vii)  to
        the
        Holders of the Class M-6 Certificates, the Class M-6 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (viii)  to
        the
        Holders of the Class M-7 Certificates, the Class M-7 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (ix)  to
        the
        Holders of the Class M-8 Certificates, the Class M-8 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero;

       

      (x)  to
        the
        Holders of the Class M-9 Certificates, the Class M-9 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero; and

       

      (xi)  to
        the
        Holders of the Class M-10 Certificates, the Class M-10 Principal Distribution
        Amount, until the Certificate Principal Balance thereof has been reduced
        to
        zero.

       

      (3)  On
        each
        Distribution Date, the Net Monthly Excess Cashflow shall be distributed by
        the
        Trust Administrator as follows:

       

      (i)  to
        the
        Holders of the Class or Classes of Certificates then entitled to receive
        distributions in respect of principal, in an amount equal to the
        Overcollateralization Increase Amount for the Certificates, distributable
        as
        part of the Principal Distribution Amount;

       

      (ii)  sequentially,
        to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
        Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in
        that
        order, in each case, in an amount equal to the Interest Carry Forward Amount
        allocable to such Class of Certificates;

       

      (iii)  sequentially
        to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
        Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in
        that
        order, in each case up to the related Allocated Realized Loss Amount related
        to
        each such Class of Certificates for such Distribution Date;

       

      (iv)  to
        the
        Net WAC Rate Carryover Reserve Account, any Net WAC Rate Carryover Amounts
        for
        the Floating Rate Certificates;

       

      (v)  to
        reimburse the Servicer for the amount of any P&I Advances or Servicing
        Advances added to the unpaid principal balance of a Mortgage Loan pursuant
        to a
        capitalization modification permitted in accordance with the proviso in the
        last
        sentence of Section 3.07 (it being understood that with respect to any P&I
        Advances or Servicing Advances outstanding on any modified Mortgage Loan
        that
        was modified pursuant to any modification of a kind not contemplated and
        permitted by such proviso, then such advances shall only be reimbursable
        as
        provided in clauses (ii), (iii) and (vi) of Section 3.11(a));

       

      (vi)  to
        the
        Holders of the Class CE Certificates, (a) the Interest Distribution Amount
        and
        any Overcollateralization Reduction Amount for such Distribution Date and
        (b) on
        any Distribution Date on which the aggregate Certificate Principal Balance
        of
        the Floating Rate Certificates have been reduced to zero, any remaining amounts
        in reduction of the Certificate Principal Balance of the Class CE Certificates,
        until the Certificate Principal Balance thereof has been reduced to zero;
        and

       

      (vii)  
        to the
        Holders of the Class R Certificates, any remaining amounts; provided that
        if
        such Distribution Date is the Distribution Date immediately following the
        expiration of the latest Prepayment Charge term on a Mortgage Loan as identified
        on the Mortgage Loan Schedule or any Distribution Date thereafter, then any
        such
        remaining amounts will be distributed first, to the Holders of the Class
        P
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero; and second, to the Holders of the Class R Certificates.

       

      (4)   With
        respect to the Class A Certificates, all principal distributions will be
        distributed sequentially, to the Class A-1 Certificates, the Class A-2
        Certificates, the Class A-3 Certificates and the Class A-4 Certificates,
        in that
        order, until the respective Certificate Principal Balance of each such Class
        has
        been reduced to zero, with the exception that on any Distribution Date on
        which
        the aggregate Certificate Principal Balance of the Mezzanine Certificates
        and
        the Class CE Certificates has been reduced to zero, principal distributions
        will
        be allocated concurrently, to the Class A-1 Certificates, the Class A-2
        Certificates, the Class A-3 Certificates and the Class A-4 Certificates,
        on a
pro
        rata
        basis
        based on the Certificate
        Principal Balances of each such Class, until their respective Certificate
        Principal Balances have been reduced to zero.

       

      (5)   On
        each
        Distribution Date, after making the distributions of the Available Distribution
        Amount as set forth above, the Trust Administrator will withdraw from the
        Net
        WAC Rate Carryover Reserve Account, to the extent of amounts remaining on
        deposit therein, the amount of any Net WAC Rate Carryover Amount for such
        Distribution Date and distribute such amount in the following order of priority:
        

       

      (i)  concurrently,
        to the Class A Certificates, on a pro
        rata
        basis
        based on the Certificate Principal Balance for each such Class prior to any
        distributions of principal on such Distribution Date and then on a pro
        rata
        basis
        based on any remaining Net WAC Rate Carryover Amount for each such Class;
        and

       

      (ii)  sequentially,
        to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, the
        related Net WAC Rate Carryover Amount.

       

      (6)  On
        each
        Distribution Date, after making the distributions of the Available Distribution
        Amount, Net Monthly Excess Cashflow and amounts on the deposit in the Net
        WAC
        Rate Carryover Reserve Account as set forth above, the Trust Administrator
        shall
        distribute the amount on deposit in the Cap Account (other than any termination
        payments received under the Interest Rate Cap Agreement not related to an
        optional termination of the Trust) as follows:

       

      (i)  concurrently,
        to each Class of Class A Certificates, the related Senior Interest Distribution
        Amount remaining undistributed, on a pro
        rata
        basis
        based on such respective remaining Senior Interest Distribution
        Amount;

       

      (ii)  to
        the
        Holders of the Class or Classes of Certificates then entitled to receive
        distributions in respect of principal, in an amount equal to the
        Overcollateralization Increase Amount for the Certificates, distributable
        as
        part of the Principal Distribution Amount;

       

      (iii)  sequentially,
        to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, the
        related Interest Distribution Amount and Interest Carry Forward Amount, to
        the
        extent remaining undistributed;

       

      (iv)  sequentially
        to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in
        each
        case up to the related Allocated Realized Loss Amount related to such
        Certificates for such Distribution Date remaining undistributed;

       

      (v)  concurrently,
        to each Class of Class A Certificates, the Net WAC Rate Carryover Amount
        remaining undistributed, on a pro
        rata
        basis
        based on the Certificate Principal Balance for each such Class prior to any
        distributions of principal on such Distribution Date and then on a pro
        rata
        basis
        based on such respective remaining Net WAC Rate Carryover Amounts;
        and

       

      (vi)  sequentially,
        to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
        Class
        M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, the
        related Net WAC Rate Carryover Amount remaining undistributed.

       

      (7)
         On
        each
        Distribution Date, the following amounts, in the following order of priority,
        shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular
        Interests or withdrawn from the Distribution Account and distributed to the
        holders of the Class R-I Interest, as the case may be:

       

      (i)  to
        Holders of REMIC I Regular Interest LTAA, REMIC I Regular Interest LTA1,
        REMIC I
        Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest
        LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC
        I
        Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest
        LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC
        I
        Regular Interest LTM8, REMIC I Regular Interest LTM9, REMIC I Regular Interest
        LTM10, REMIC I Regular Interest LTZZ and REMIC I Regular Interest LTP, in
        an
        amount equal to (A) the Uncertificated Interest for such Distribution Date,
        plus
        (B) any amounts in respect thereof remaining unpaid from previous Distribution
        Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular
        Interest LTZZ shall be reduced when the sum of the REMIC I Overcollateralized
        Amount is less than the REMIC I Required Overcollateralized Amount, by the
        lesser of (x) the amount of such difference and (y) the Maximum LTZZ
        Uncertificated Interest Deferral Amount and such amounts will be payable
        to the
        Holders of REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2,
        REMIC I
        Regular Interest LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest
        LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC
        I
        Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest
        LTM6, REMIC I Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC
        I
        Regular Interest LTM9 and REMIC I Regular Interest LTM10, in the same proportion
        as the Overcollateralization Increase Amount is allocated to the Corresponding
        Certificates and the Uncertificated Balance of REMIC I Regular Interest LTZZ
        shall be increased by such amount; and

       

      (ii)  to
        the
        Holders of REMIC I Regular Interests, in an amount equal to the remainder
        of the
        Available Distribution Amount for such Distribution Date after the distributions
        made pursuant to clause (i) above, allocated as follows:

       

      (a)  98.00%
        of
        such remainder to the Holders of REMIC I Regular Interest LTAA, until the
        Uncertificated Balance of such REMIC I Regular Interest is reduced to
        zero;

       

      (b)  2.00%
        of
        such remainder first, to the Holders of REMIC I Regular Interest LTA1, REMIC
        I
        Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest
        LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC
        I
        Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest
        LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC
        I
        Regular Interest LTM8, REMIC I Regular Interest LTM9 and REMIC I Regular
        Interest LTM10, and in the same proportion as principal payments are allocated
        to the Corresponding Certificates, until the Uncertificated Balances of such
        REMIC I Regular Interests are reduced to zero and second, to the Holders
        of
        REMIC I Regular Interest LTZZ, until the Uncertificated Balance of such REMIC
        I
        Regular Interest is reduced to zero; 

       

      (c)  to
        the
        Holders of REMIC I Regular Interest LTP, on the Distribution Date immediately
        following the expiration of the latest Prepayment Charge as identified on
        the
        Prepayment Charge Schedule or any Distribution Date thereafter until $100
        has
        been distributed pursuant to this clause; and 

       

      (d)  any
        remaining amount to the Holders of the Class R Certificates (as Holder of
        the
        Class R-I Interest);

       

      provided,
        however, that 98.00% and 2.00% of any principal payments that are attributable
        to an Overcollateralization Reduction Amount shall be allocated to Holders
        of
        REMIC I Regular Interest LTAA and REMIC I Regular Interest LTZZ,
        respectively.

       

      (b)  On
        each
        Distribution Date, the Trust Administrator shall withdraw any amounts then
        on
        deposit in the Distribution Account that represent Prepayment Charges collected
        by the Servicer or any Sub-Servicer in connection with the Principal Prepayment
        of any of the Mortgage Loans or any Servicer Prepayment Charge Payment Amount
        and shall distribute such amounts to the Holders of the Class P Certificates.
        Such distributions shall not be applied to reduce the Certificate Principal
        Balance of the Class P Certificates.

       

      Following
        the foregoing distributions, an amount equal to the amount of Subsequent
        Recoveries shall be applied to increase the Certificate Principal Balance
        of the
        Class of Certificates with the Highest Priority up to the extent of such
        Realized Losses previously allocated to that Class of Certificates pursuant
        to
        Section 4.04. An amount equal to the amount of any remaining Subsequent
        Recoveries shall be applied to increase the Certificate Principal Balance
        of the
        Class of Certificates with the next Highest Priority, up to the amount of
        such
        Realized Losses previously allocated to that Class of Certificates pursuant
        to
        Section 4.04. Holders of such Certificates will not be entitled to any
        distribution in respect of interest on the amount of such increases for any
        Interest Accrual Period preceding the Distribution Date on which such increase
        occurs. Any such increases shall be applied to the Certificate Principal
        Balance
        of each Certificate of such Class in accordance with its respective Percentage
        Interest.

       

      (c)  All
        distributions made with respect to each Class of Certificates on each
        Distribution Date shall be allocated pro
        rata
        among
        the outstanding Certificates in such Class based on their respective Percentage
        Interests. Payments in respect of each Class of Certificates on each
        Distribution Date will be made to the Holders of the respective Class of
        record
        on the related Record Date (except as otherwise provided in Section 4.01(e)
        or
        Section 9.01 respecting the final distribution on such Class), based on the
        aggregate Percentage Interest represented by their respective Certificates,
        and
        shall be made by wire transfer of immediately available funds to the account
        of
        any such Holder at a bank or other entity having appropriate facilities
        therefor, if such Holder shall have so notified the Trust Administrator in
        writing at least five Business Days prior to the Record Date immediately
        prior
        to such Distribution Date and with respect to any Class of Certificates other
        than the Residual Certificates is the registered owner of Certificates having
        an
        initial aggregate Certificate Principal Balance that is in excess of the
        lesser
        of (i) $5,000,000 or (ii) two-thirds of the initial Certificate Principal
        Balance of such Class of Certificates, or otherwise by check mailed by first
        class mail to the address of such Holder appearing in the Certificate Register.
        The final distribution on each Certificate will be made in like manner, but
        only
        upon presentment and surrender of such Certificate at the Corporate Trust
        Office
        of the Trust Administrator or such other location specified in the notice
        to
        Certificateholders of such final distribution.

       

      Each
        distribution with respect to a Book-Entry Certificate shall be paid to the
        Depository, as Holder thereof, and the Depository shall be responsible for
        crediting the amount of such distribution to the accounts of its Depository
        Participants in accordance with its normal procedures. Each Depository
        Participant shall be responsible for disbursing such distribution to the
        Certificate Owners that it represents and to each indirect participating
        brokerage firm (a “brokerage firm” or “indirect participating firm”) for which
        it acts as agent. Each brokerage firm shall be responsible for disbursing
        funds
        to the Certificate Owners that it represents. None of the Trustee, the Trust
        Administrator, the Depositor or the Servicer shall have any responsibility
        therefor except as otherwise provided by this Agreement or applicable
        law.

       

      (d)  The
        rights of the Certificateholders to receive distributions in respect of the
        Certificates, and all interests of the Certificateholders in such distributions,
        shall be as set forth in this Agreement. None of the Holders of any Class
        of
        Certificates, the Depositor, the Trustee, the Trust Administrator or the
        Servicer shall in any way be responsible or liable to the Holders of any
        other
        Class of Certificates in respect of amounts properly previously distributed
        on
        the Certificates.

       

      (e)  Except
        as
        otherwise provided in Section 9.01, whenever the Trust Administrator expects
        that the final distribution with respect to any Class of Certificates will
        be
        made on the next Distribution Date, the Trust Administrator shall, no later
        than
        five days after the latest related Determination Date, mail on such date
        to each
        Holder of such Class of Certificates a notice to the effect that:

       

      (i)  the
        Trust
        Administrator expects that the final distribution with respect to such Class
        of
        Certificates will be made on such Distribution Date, but only upon presentation
        and surrender of such Certificates at the office of the Trust Administrator
        therein specified, and

       

      (ii)  no
        interest shall accrue on such Certificates from and after the end of the
        related
        Interest Accrual Period.

       

      (iii)  Any
        funds
        not distributed to any Holder or Holders of Certificates of such Class on
        such
        Distribution Date because of the failure of such Holder or Holders to tender
        their Certificates shall, on such date, be set aside and held in trust by
        the
        Trust Administrator and credited to the account of the appropriate non-tendering
        Holder or Holders. If any Certificates as to which notice has been given
        pursuant to this Section 4.01(e) shall not have been surrendered for
        cancellation within six months after the time specified in such notice, the
        Trust Administrator shall mail a second notice to the remaining non-tendering
        Certificateholders to surrender their Certificates for cancellation in order
        to
        receive the final distribution with respect thereto. If within one year after
        the second notice all such Certificates shall not have been surrendered for
        cancellation, the Trust Administrator shall, directly or through an agent,
        mail
        a final notice to remaining non-tendering Certificateholders concerning
        surrender of their Certificates and shall continue to hold any remaining
        funds
        for the benefit of non-tendering Certificateholders. The costs and expenses
        of
        maintaining the funds in trust and of contacting such Certificateholders
        shall
        be paid out of the assets remaining in such trust fund. If within one year
        after
        the final notice any such Certificates shall not have been surrendered for
        cancellation, the Trust Administrator shall pay to Citigroup Global Markets
        Inc.
        all such amounts, and all rights of non-tendering Certificateholders in or
        to
        such amounts shall thereupon cease. No interest shall accrue or be payable
        to
        any Certificateholder on any amount held in trust by the Trust Administrator
        as
        a result of such Certificateholder’s failure to surrender its Certificate(s) for
        final payment thereof in accordance with this Section 4.01(e).

       

      (f)  Notwithstanding
        anything to the contrary herein, (i) in no event shall the Certificate Principal
        Balance of a Class A Certificate or a Mezzanine Certificate be reduced more
        than
        once in respect of any particular amount allocated to such Certificate in
        respect of Realized Losses pursuant to Section 4.04 and (ii) in no event
        shall
        the Uncertificated Balance of a REMIC Regular Interest be reduced more than
        once
        in respect of any particular amount both (a) allocated to such REMIC Regular
        Interest in respect of Realized Losses pursuant to Section 4.04 and (b)
        distributed on such REMIC Regular Interest in reduction of the Uncertificated
        Balance thereof pursuant to this Section 4.01.

       

      
        	
              	SECTION
                4.02	
                Statements
                  to Certificateholders.

              

      

       

      On
        each
        Distribution Date, the Trust Administrator shall prepare and make available
        on
        its website to each Holder of the Regular Certificates, a statement as to
        the
        distributions made on such Distribution Date setting forth:

       

      (i)  the
        amount of the distribution made on such Distribution Date to the Holders
        of
        Certificates of each such Class allocable to principal and the amount of
        the
        distribution made on such Distribution Date to the Holders of the Class P
        Certificates allocable to Prepayment Charges;

       

      (ii)  the
        amount of the distribution made on such Distribution Date to the Holders
        of
        Certificates of each such Class allocable to interest;

       

      (iii)  the
        aggregate amount of P&I Advances for such Distribution Date (including the
        general purpose of such P&I Advances);

       

      (iv)  the
        fees
        and expenses of the trust accrued and paid on such Distribution Date and
        to whom
        such fees and expenses were paid;

       

      (v)  the
        aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties
        at the close of business on such Distribution Date;

       

      (vi)  the
        number, aggregate principal balance, weighted average remaining term to maturity
        and weighted average Mortgage Rate of the Mortgage Loans as of the related
        Due
        Date;

       

      (vii)  the
        number and aggregate unpaid principal balance of Mortgage Loans in respect
        of
        which (a) one monthly payment is delinquent, (b) two monthly payments are
        delinquent, (c) three monthly payments are delinquent and (d) foreclosure
        proceedings have begun, calculated in accordance with the OTS
        method;

       

      (viii)  with
        respect to any Mortgage Loan that became an REO Property during the preceding
        calendar month, the loan number of such Mortgage Loan, the unpaid principal
        balance and the Stated Principal Balance of such Mortgage Loan as of the
        date it
        became an REO Property;

       

      (ix)  the
        Delinquency Percentage and Realized Loss percentage;

       

      (x)  the
        Stated Principal Balance of any REO Property as of the close of business
        on the
        last Business Day of the calendar month preceding the Distribution
        Date;

       

      (xi)  the
        aggregate amount of Principal Prepayments made during the related Prepayment
        Period;

       

      (xii)  the
        aggregate amount of Realized Losses incurred during the related Prepayment
        Period (or, in the case of Bankruptcy Losses allocable to interest, during
        the
        related Due Period), separately identifying whether such Realized Losses
        constituted Bankruptcy Losses;

       

      (xiii)  the
        aggregate amount of Extraordinary Trust Fund Expenses withdrawn from the
        Collection Account or the Distribution Account for such Distribution
        Date;

       

      (xiv)  the
        aggregate Certificate Principal Balance of each such Class of Certificates,
        after giving effect to the distributions, and allocations of Realized Losses
        and
        Extraordinary Trust Fund Expenses, made on such Distribution Date, separately
        identifying any reduction thereof due to allocations of Realized Losses and
        Extraordinary Trust Fund Expenses;

       

      (xv)  the
        Certificate Factor for each such Class of Certificates applicable to such
        Distribution Date;

       

      (xvi)  the
        Interest Distribution Amount in respect of each such Class of Certificates
        for
        such Distribution Date (separately identifying any reductions in the case
        of
        Subordinate Certificates resulting from the allocation of Realized Losses
        allocable to interest and Extraordinary Trust Fund Expenses on such Distribution
        Date) and the respective portions thereof, if any, remaining unpaid following
        the distributions made in respect of such Certificates on such Distribution
        Date;

       

      (xvii)    
        the
        aggregate amount of any Prepayment Interest Shortfalls for such Distribution
        Date, to the extent not covered by payments by the Servicer pursuant to Section
        3.24;

       

      (xviii)    the
        aggregate amount of Relief Act Interest Shortfalls for such Distribution
        Date;

       

      (xix)  the
        Net
        Monthly Excess Cashflow, the Overcollateralization Target Amount, the
        Overcollateralized Amount, the Overcollateralization Reduction Amount, the
        Overcollateralization Increase Amount and the Credit Enhancement
        Percentage;

       

      (xx)  with
        respect to any Mortgage Loan as to which foreclosure proceedings have been
        concluded, the loan number and unpaid principal balance of such Mortgage
        Loan as
        of the date of such conclusion of foreclosure proceedings;

       

      (xxi)  with
        respect to Mortgage Loans as to which a Final Liquidation has occurred, the
        number of Mortgage Loans, the unpaid principal balance of such Mortgage Loans
        as
        of the date of such Final Liquidation and the amount of proceeds (including
        Liquidation Proceeds and Insurance Proceeds) collected in respect of such
        Mortgage Loans;

       

      (xxii)  any
        Allocated Realized Loss Amount with respect to each Class of Certificates
        for
        such Distribution Date;

       

      (xxiii)  the
        amounts deposited into the Net WAC Rate Carryover Reserve Account for such
        Distribution Date, the amounts withdrawn from such account and distributed
        to
        each Class of Certificates, and the amounts remaining on deposit in such
        account
        after all deposits into and withdrawals from such account on such Distribution
        Date; 

       

      (xxiv)  the
        Net
        WAC Rate Carryover Amounts for each Class of Certificates, if any, for such
        Distribution Date and the amounts remaining unpaid after reimbursements therefor
        on such Distribution Date;

       

      (xxv)  whether
        a
        Stepdown Date or Trigger Event is in effect;

       

      (xxvi)  the
        total
        cashflows received and the general sources thereof;

       

      (xxvii)  if
        applicable, unless otherwise set forth in the Form 10-D relating to such
        distribution date, material modifications, extensions or waivers to mortgage
        loan terms, fees, penalties or payments during the preceding calendar month
        or
        that have become material over time; 

       

      (xxviii)  
        payments, if any, made under the Interest Rate Cap Agreement and the amount
        distributed to the Floating Rate Certificates from payments made under the
        Interest Rate Cap Agreement; 

       

      (xxix)  (A)
        the
        amount of payments received from the Servicer related to claims under the
        PMI
        Policy during the related Prepayment Period (and the number of Mortgage Loans
        to
        which such payments related) and (B) the cumulative amount of payments received
        related to claims under the PMI Policy since the Closing Date (and the number
        of
        Mortgage Loans to which such payments related); 

       

      (xxx)  (A)
        the
        dollar amount of claims made under each PMI Policy that were denied (as
        identified by the Servicer) during the Prepayment Period (and the number
        of
        Mortgage Loans to which such denials related) and (B) the dollar amount of
        the
        cumulative claims made under the PMI Policy that were denied since the Closing
        Date (and the number of Mortgage Loans to which such denials related);
        and

       

      (xxxi)  
        the
        applicable Record Dates, Interest Accrual Periods and Determination Dates
        for
        calculating distributions for such Distribution Date.

       

      In
        the
        case of information furnished pursuant to subclauses (i) through (iii) above,
        the amounts shall be expressed as a dollar amount per Single Certificate
        of the
        relevant Class. 

       

      For
        all
        purposes of this Agreement, with respect to any Mortgage Loan, delinquencies
        shall be determined by the Trust Administrator from information provided
        by the
        Servicer and reported by the Trust Administrator based on the OTS methodology
        for determining delinquencies on mortgage loans similar to the Mortgage Loans.
        By way of example, a Mortgage Loan would be delinquent with respect to a
        Monthly
        Payment due on a Due Date if such Monthly Payment is not made by the close
        of
        business on the Mortgage Loan's next succeeding Due Date, and a Mortgage
        Loan
        would be more than 30-days Delinquent with respect to such Monthly Payment
        if
        such Monthly Payment were not made by the close of business on the Mortgage
        Loan’s second succeeding Due Date (the “OTS Method”). The Servicer hereby
        represents and warrants to the Depositor that the Servicer is not subject
        to any
        delinquency recognition policy established by its primary safety and soundness
        regulator.

       

      The
        Trust
        Administrator shall make available on its website to each Person (and the
        Trustee) who at any time during the calendar year was a Holder of a Regular
        Certificate, the statements containing the information set forth in subclauses
        (i) through (iii) above. Such obligation of the Trust Administrator shall
        be
        deemed to have been satisfied to the extent that substantially comparable
        information shall be provided by the Trust Administrator pursuant to any
        requirements of the Code as from time to time are in force. 

       

      In
        addition, the Trust Administrator will report on Form 10-D any material breaches
        of representations and warranties regarding the Mortgage Loans to the extent
        actually known to a Responsible Officer of the Trust Administrator, in a
        format that is mutually agreeable to the Depositor and the Trust
        Administrator.

       

      On
        each
        Distribution Date, the Trust Administrator shall make available to the
        Depositor, each Holder of a Residual Certificate, the Trustee, the Servicer
        and
        the Credit Risk Manager, a copy of the reports forwarded to the Regular
        Certificateholders on such Distribution Date and a statement setting forth
        the
        amounts, if any, actually distributed with respect to the Residual Certificates,
        respectively, on such Distribution Date. 

       

      The
        Trust
        Administrator shall furnish to the Holders of the Residual Certificates the
        applicable Form 1066 and each applicable Form 1066Q as required by the Code.
        Additionally, the Trust Administrator shall make available on its website
        to
        each Person (and the Trustee) who at any time during the calendar year was
        a
        Holder of a Residual Certificate certain statements setting forth information
        set forth in clauses (i) through (xxxii) above. Such obligation of the Trust
        Administrator shall be deemed to have been satisfied to the extent that
        substantially comparable information shall be provided by the Trust
        Administrator to such Holders pursuant to the rules and regulations of the
        Code
        as are in force from time to time.

       

      Upon
        request, the Trust
        Administrator
        shall
        forward to each Certificateholder, during the term of this Agreement, such
        periodic, special, or other reports or information, whether or not provided
        for
        herein, as shall be reasonable with respect to the Certificateholder, or
        otherwise with respect to the purposes of this Agreement, all such reports
        or
        information to be provided at the expense of the Certificateholder in accordance
        with such reasonable and explicit instructions and directions as the
        Certificateholder may provide. For purposes of this Section 4.02, the Trust
        Administrator’s duties are limited to the extent that the Trust Administrator
        receives timely reports as required from the Servicer.

       

      On
        each
        Distribution Date, the Trust Administrator shall provide Bloomberg Financial
        Markets, L.P. (“Bloomberg”) on its website (1) CUSIP level factors for each
        class of Certificates as of such Distribution Date and (2) the number and
        aggregate unpaid principal balance of Mortgage Loans that are (a) delinquent
        30
        to 59 days, (b) delinquent 60 to 89 days, (c) delinquent 90 or more days
        in each
        case, as of the last day of the preceding calendar month, (d) as to which
        foreclosure proceedings have been commenced and (e) with respect to which
        the
        related Mortgagor has filed for protection under applicable bankruptcy laws,
        with respect to whom bankruptcy proceedings are pending or with respect to
        whom
        bankruptcy protection is in force, in each case using a format and media
        mutually acceptable to the Trust Administrator and Bloomberg.

       

      For
        each
        Distribution Date, through and including the Distribution Date in December
        2007,
        the Trust Administrator shall calculate the Significance Percentage of the
        Interest Rate Cap Agreement. If on any such Distribution Date, the Significance
        Percentage of the Interest Rate Cap Agreement is equal to or greater than
        10%,
        the Trust Administrator shall promptly notify the Depositor and the Depositor
        shall file, by Form 10-D no later than fifteen days following the related
        Distribution Date, the financial statements of the Interest Rate Cap Provider
        as
        required by Item 1115 of Regulation AB. 

       

      
        	
              	SECTION
                4.03	
                Remittance
                  Reports; P&I Advances.

              

      

       

      (a)  No
        later
        than the Servicer Remittance Date, the Servicer shall deliver to the Trust
        Administrator, in a mutually agreed upon electronic format (or by such other
        means as the Servicer and the Trust Administrator may agree from time to
        time) a
        Remittance Report with respect to the related Distribution Date. The Trust
        Administrator shall, on behalf of the Servicer, on such date furnish a copy
        of
        such Remittance Report to the Credit Risk Manager by such means as the Trust
        Administrator shall agree from time to time. Such
        Remittance Report will include such other information with respect to the
        Mortgage Loans as the Trust Administrator may reasonably require to perform
        the
        calculations necessary to make the distributions contemplated by Section
        4.01
        and to prepare the statements to Certificateholders contemplated by Section
        4.02. Neither
        the Trustee nor the Trust Administrator shall be responsible to recompute,
        recalculate or verify any information provided to it by the
        Servicer.

       

      (b)  With
        respect to any Mortgage Loan on which a Monthly Payment was due during the
        related Due Period and delinquent on the related Determination Date, the
        amount
        of the Servicer's Advance will be equal to the excess, if any, of the Monthly
        Payment (net of the related Servicing Fee) that would have been due on the
        related Due Date in respect of the related Mortgage Loan, over the net income
        from such REO Property deposited in the Collection Account pursuant to Section
        3.23 for distribution on such Distribution Date. With respect to each REO
        Property, which REO Property was acquired during or prior to the related
        Prepayment Period and as to which such REO Property an REO Disposition did
        not
        occur during the related Prepayment Period, an amount equal to the excess,
        if
        any, of the Monthly Payment (net of the related Servicing Fee) that would
        have
        been due on the related Due Date in respect of the related Mortgage Loan,
        over
        the net income from such REO Property deposited in the Collection Account
        pursuant to Section 3.23 for distribution on such Distribution
        Date.

       

      On
        the
        Servicer Remittance Date, the Servicer shall remit in immediately available
        funds to the Trust Administrator for deposit in the Distribution Account
        an
        amount equal to the aggregate amount of P&I Advances, if any, to be made in
        respect of the Mortgage Loans for the related Distribution Date either (i)
        from
        its own funds or (ii) from the Collection Account, to the extent of funds
        held
        therein for future distribution (in which case it will cause to be made an
        appropriate entry in the records of the Collection Account that amounts held
        for
        future distribution have been, as permitted by this Section 4.03, used by
        the
        Servicer in discharge of any such P&I Advance) or (iii) in the form of any
        combination of (i) and (ii) aggregating the total amount of P&I Advances to
        be made by the Servicer with respect to the Mortgage Loans. Any amounts held
        for
        future distribution used by the Servicer to make a P&I Advance as permitted
        in the preceding sentence shall be appropriately reflected in the Servicer’s
        records and replaced by the Servicer by deposit in the Collection Account
        on or
        before any future Servicer Remittance Date to the extent that the Available
        Distribution Amount for the related Distribution Date (determined without
        regard
        to P&I Advances to be made on the Servicer Remittance Date) shall be less
        than the total amount that would be distributed to the Certificateholders
        pursuant to Section 4.01 on such Distribution Date if such amounts held for
        future distributions had not been so used to make P&I Advances. The Trust
        Administrator will provide notice to the Servicer by telecopy by the close
        of
        business on the Business Day prior to the Distribution Date in the event
        that
        the amount remitted by the Servicer to the Trust Administrator on such date
        is
        less than the P&I Advances required to be made by the Servicer for the
        related Distribution Date.

       

      (c)  The
        obligation of the Servicer to make such P&I Advances is mandatory,
        notwithstanding any other provision of this Agreement but subject to (d)
        below,
        and, with respect to any Mortgage Loan or REO Property, shall continue until
        a
        Final Recovery Determination in connection therewith or the removal thereof
        from
        the Trust Fund pursuant to any applicable provision of this Agreement, except
        as
        otherwise provided in this Section.

       

      (d)  Notwithstanding
        anything herein to the contrary, no P&I Advance or Servicing Advance shall
        be required to be made hereunder by the Servicer if such P&I Advance or
        Servicing Advance would, if made, constitute a Nonrecoverable P&I Advance or
        Nonrecoverable Servicing Advance, respectively. The determination by the
        Servicer that it has made a Nonrecoverable P&I Advance or a Nonrecoverable
        Servicing Advance or that any proposed P&I Advance or Servicing Advance, if
        made, would constitute a Nonrecoverable P&I Advance or Nonrecoverable
        Servicing Advance, respectively, shall be evidenced by a certification of
        a
        Servicing Officer delivered to the Trust Administrator (whereupon, upon receipt
        of such certification, the Trust Administrator shall forward a copy of such
        certification to the Depositor, the Trustee and the Credit Risk Manager).
        Notwithstanding the foregoing, if following the application of Liquidation
        Proceeds on any Mortgage Loan that was the subject of a Final Recovery
        Determination, any Servicing Advance with respect to such Mortgage Loan shall
        remain unreimbursed to the Servicer, then without limiting the provisions
        of
        Section 3.11(a), a certification of a Servicing Officer regarding such
        Nonrecoverable Servicing Advance shall not be required to be delivered by
        the
        Servicer to the Trust Administrator.

       

      
        	
              	SECTION
                4.04	
                Allocation
                  of Extraordinary Trust Fund Expenses and Realized
                  Losses.

              

      

       

      (a)  Prior
        to
        each Distribution Date, the Servicer shall determine as to each Mortgage
        Loan
        and REO Property: (i) the total amount of Realized Losses, if any, incurred
        in
        connection with any Final Recovery Determinations made during the related
        Prepayment Period; (ii) whether and the extent to which such Realized Losses
        constituted Bankruptcy Losses; and (iii) the respective portions of such
        Realized Losses allocable to interest and allocable to principal. Prior to
        each
        Distribution Date, the Servicer shall also determine as to each Mortgage
        Loan:
        (A) the total amount of Realized Losses, if any, incurred in connection with
        any
        Deficient Valuations made during the related Prepayment Period; and (B) the
        total amount of Realized Losses, if any, incurred in connection with Debt
        Service Reductions in respect of Monthly Payments due during the related
        Due
        Period. The information described in the two preceding sentences that is
        to be
        supplied by the Servicer shall be either included in the related Remittance
        Report or evidenced by an Officers’ Certificate delivered to the Trust
        Administrator and the Trustee by the Servicer prior to the Determination
        Date
        immediately following the end of (x) in the case of Bankruptcy Losses allocable
        to interest, the Due Period during which any such Realized Loss was incurred,
        and (y) in the case of all other Realized Losses, the Prepayment Period during
        which any such Realized Loss was incurred.

       

      (b)  All
        Realized Losses on the Mortgage Loans shall be allocated by the Trust
        Administrator on each Distribution Date as follows: first, to the Interest
        Distribution Amount for the Class CE Certificates for the related Interest
        Accrual Period; second, to payments received under the Interest Rate Cap
        Agreement, third, to the Class CE Certificates, until the Certificate Principal
        Balance thereof has been reduced to zero; fourth, to the Class M-10
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero, fifth, to the Class M-9 Certificates until the Certificate Principal
        Balance thereof has been reduced to zero; sixth, to the Class M-8 Certificates,
        until the Certificate Principal Balance thereof has been reduced to zero;
        seventh, to the Class M-7 Certificates, until the Certificate Principal Balance
        thereof has been reduced to zero; eighth, to the Class M-6 Certificates,
        until
        the Certificate Principal Balance thereof has been reduced to zero; ninth
        to the
        Class M-5 Certificates, until the Certificate Principal Balance thereof has
        been
        reduced to zero; tenth, to the Class M-4 Certificates, until the Certificate
        Principal Balance thereof has been reduced to zero; eleventh, to the Class
        M-3
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero; twelfth, to the Class M-2 Certificates, until the Certificate Principal
        Balance thereof has been reduced to zero and thirteenth, to the Class M-1
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero.

       

      All
        Realized Losses to be allocated to the Certificate Principal Balances of
        all
        Classes on any Distribution Date shall be so allocated after the actual
        distributions to be made on such date as provided above. All references above
        to
        the Certificate Principal Balance of any Class of Certificates shall be to
        the
        Certificate Principal Balance of such Class immediately prior to the relevant
        Distribution Date, before reduction thereof by any Realized Losses, in each
        case
        to be allocated to such Class of Certificates, on such Distribution
        Date.

       

      Any
        allocation of Realized Losses to a Mezzanine Certificate on any Distribution
        Date shall be made by reducing the Certificate Principal Balance thereof
        by the
        amount so allocated and any allocation of Realized Losses to a Class CE
        Certificates shall be made by reducing the amount otherwise payable in respect
        thereof pursuant to Section 4.01(a)(3). No allocations of any Realized Losses
        shall be made to the Certificate Principal Balances of the Class A Certificates
        or the Class P Certificates.

       

      (c)  All
        Realized Losses on the Mortgage Loans shall be allocated by the Trust
        Administrator on each Distribution Date to the following REMIC I Regular
        Interests in the specified percentages, as follows: first, to Uncertificated
        Interest payable to the REMIC I Regular Interest LTAA and REMIC I Regular
        Interest LTZZ up to an aggregate amount equal to the REMIC I Interest Loss
        Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated
        Balances of the REMIC I Regular Interest LTAA and REMIC I Regular Interest
        LTZZ
        up to an aggregate amount equal to the REMIC I Principal Loss Allocation
        Amount,
        98% and 2%, respectively; third, to the Uncertificated Balances of REMIC
        I
        Regular Interest LTAA, REMIC I Regular Interest LTM10 and REMIC I Regular
        Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance
        of
        REMIC I Regular Interest LTM10 has been reduced to zero; fourth, to the
        Uncertificated Balances of REMIC I Regular Interest LTAA, REMIC I Regular
        Interest LTM9 and REMIC I Regular Interest LTZZ, 98%, 1% and 1%, respectively,
        until the Uncertificated Balance of REMIC I Regular Interest LTM9 has been
        reduced to zero; fifth, to the Uncertificated Balances of REMIC I Regular
        Interest LTAA, REMIC I Regular Interest LTM8 and REMIC I Regular Interest
        LTZZ,
        98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I
        Regular Interest LTM8 has been reduced to zero; sixth, to the Uncertificated
        Balances of REMIC I Regular Interest LTAA, REMIC I Regular Interest LTM7
        and
        REMIC I Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the
        Uncertificated Balance of REMIC I Regular Interest LTM7 has been reduced
        to
        zero; seventh, to the Uncertificated Balances of REMIC I Regular Interest
        LTAA,
        REMIC I Regular Interest LTM6 and REMIC I Regular Interest LTZZ, 98%, 1%
        and 1%,
        respectively, until the Uncertificated Balance of REMIC I Regular Interest
        LTM6
        has been reduced to zero; eighth, to the Uncertificated Balances of REMIC
        I
        Regular Interest LTAA, REMIC I Regular Interest LTM5 and REMIC I Regular
        Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance
        of
        REMIC I Regular Interest LTM5 has been reduced to zero; ninth, to the
        Uncertificated Balances of REMIC I Regular Interest LTAA, REMIC I Regular
        Interest LTM4 and REMIC I Regular Interest LTZZ, 98%, 1% and 1%, respectively,
        until the Uncertificated Balance of REMIC I Regular Interest LTM4 has been
        reduced to zero; tenth, to the Uncertificated Balances of REMIC I Regular
        Interest LTAA, REMIC I Regular Interest LTM3 and REMIC I Regular Interest
        LTZZ,
        98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I
        Regular Interest LTM3 has been reduced to zero; eleventh, to the Uncertificated
        Balances of REMIC I Regular Interest LTAA, REMIC I Regular Interest LTM2
        and
        REMIC I Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the
        Uncertificated Balance of REMIC I Regular Interest LTM2 has been reduced
        to zero
        and twelfth, to the Uncertificated Balances of REMIC I Regular Interest LTAA,
        REMIC I Regular Interest LTM1 and REMIC I Regular Interest LTZZ, 98%, 1%
        and 1%,
        respectively, until the Uncertificated Balance of REMIC I Regular Interest
        LTM1
        has been reduced to zero.

       

      
        	
              	SECTION
                4.05	
                Compliance
                  with Withholding Requirements.

              

      

       

      Notwithstanding
        any other provision of this Agreement, the Trust Administrator shall comply
        with
        all federal withholding requirements respecting payments to Certificateholders
        of interest or original issue discount that the Trust Administrator reasonably
        believes are applicable under the Code. The consent of Certificateholders
        shall
        not be required for such withholding. In the event the Trust Administrator
        does
        withhold any amount from interest or original issue discount payments or
        advances thereof to any Certificateholder pursuant to federal withholding
        requirements, the Trust Administrator shall indicate the amount withheld
        to such
        Certificateholders.

       

      
        	
              	SECTION
                4.06	
                Net
                  WAC Rate Carryover Reserve Account.

              

      

       

      (a)  No
        later
        than the Closing Date, the Trust Administrator shall establish and maintain
        a
        separate, segregated trust account titled, “Net WAC Rate Carryover Reserve
        Account, Citibank, N.A., as Trust Administrator, in trust for the registered
        holders of Citigroup Mortgage Loan Trust, Asset-Backed Pass-Through
        Certificates, Series 2007-WFHE2.” The Net WAC Rate Carryover Reserve Account
        will be an “outside reserve fund” within the meaning of Treasury Regulation
        Section 1.860G-2(h).

       

      (b)  On
        each
        Distribution Date, the Trust Administrator has been directed by the Class
        CE
        Certificateholders to, and therefore shall, deposit into the Net WAC Rate
        Carryover Reserve Account, any Net WAC Rate Carryover Amounts for such
        Distribution Date, rather than distributing such amounts to the Class CE
        Certificateholders. On each such Distribution Date, the Trust Administrator
        shall hold all such amounts for the benefit of the Holders of the Floating
        Rate
        Certificates, and shall distribute the aggregate Net WAC Rate Carryover Amount,
        if any, for such Distribution Date from the Net WAC Rate Carryover Reserve
        Account to the Holders of the Floating Rate Certificates in the amounts and
        priorities set forth in Section 4.01(g).

       

      On
        each
        Distribution Date, after the payment of any Net WAC Rate Carryover Amounts
        on
        the Floating Rate Certificates, any amounts remaining in the Net WAC Rate
        Carryover Reserve Account, shall be payable to the Trust Administrator as
        additional compensation to it, subject to the immediately following
        paragraph.

       

      (c)  It
        is the
        intention of the parties hereto that, for federal and state income and state
        and
        local franchise tax purposes, the Net WAC Rate Carryover Reserve Account
        be
        disregarded as an entity separate from the Holder of the Class CE Certificates
        unless and until the date when either (a) there is more than one Class CE
        Certificateholder or (b) any Class of Certificates in addition to the Class
        CE
        Certificates is recharacterized as an equity interest in the Net WAC Rate
        Carryover Reserve Account for federal income tax purposes, in which case
        it is
        the intention of the parties hereto that, for federal and state income and
        state
        and local franchise tax purposes, the Net WAC Rate Carryover Reserve Account
        be
        treated as a partnership. If the Net WAC Rate Carryover Reserve Account becomes
        characterized as a partnership for federal income tax purposes, the Trust
        Administrator shall (i) obtain, or cause to be obtained, a taxpayer
        identification number for the Net WAC Rate Carryover Reserve Account and
        (ii)
        prepare and file, or cause to be prepared and filed, any necessary federal,
        state or local tax returns for the Net WAC Rate Carryover Reserve Account.
        All
        amounts deposited into the Net WAC Rate Carryover Reserve Account shall be
        treated as amounts distributed by REMIC II to the Holder of the Class CE
        Interest and by REMIC III to the Holder of the Class CE Certificates. Upon
        the
        termination of the Trust Fund, or the payment in full of the Floating Rate
        Certificates, all amounts remaining on deposit in the Net WAC Rate Carryover
        Reserve Account shall be released by the Trust Fund and distributed to the
        Class
        CE Certificateholders or their designees. The Net WAC Rate Carryover Reserve
        Account shall be part of the Trust Fund but not part of any Trust REMIC and
        any
        payments to the Holders of the Floating Rate Certificates of Net WAC Rate
        Carryover Amounts will not be payments with respect to a “regular interest” in a
        REMIC within the meaning of Code Section 860(G)(a)(1).

       

      (d)  By
        accepting a Class CE Certificate, each Class CE Certificateholder hereby
        agrees
        to direct the Trust Administrator, and the Trust Administrator is hereby
        is
        directed, to deposit into the Net WAC Rate Carryover Reserve Account the
        amounts
        described above on each Distribution Date rather than distributing such amounts
        to the Class CE Certificateholders. By accepting a Class CE Certificate,
        each
        Class CE Certificateholder further agrees that such direction is given for
        good
        and valuable consideration, the receipt and sufficiency of which is acknowledged
        by such acceptance.

       

      (e)  All
        amounts on deposit in the Net WAC Rate Carryover Reserve Account shall remain
        uninvested.

       

      (f)  For
        federal tax return and information reporting, the right of the Holders of
        the
        Floating Rate Certificates to receive payments from the Net WAC Rate Carryover
        Reserve Account in respect of any Net WAC Rate Carryover Amount shall be
        assigned a value of zero.

       

      
        	
              	SECTION
                4.07	
                Commission
                  Reporting.

              

      

       

      (a)  (i)
        Within 10 days after each Distribution Date, the Trust Administrator shall,
        in
        accordance with industry standards, file with the Commission via the Electronic
        Data Gathering and Retrieval System (“EDGAR”), a distribution report on Form
        10-D, signed by the Depositor, with a copy of the monthly statement to be
        furnished by the Trust Administrator to the Certificateholders for such
        Distribution Date. Any disclosure in addition to the monthly statement required
        to be included on the Form 10-D (“Additional Form 10-D Disclosure”) shall be
        determined and prepared by the entity that is indicated in Exhibit B as the
        responsible party for providing that information, and the Trust Administrator
        will have no duty or liability to verify the accuracy or sufficiency of any
        such
        Additional Form 10-D Disclosure and the Trust Administrator shall have no
        liability with respect to any failure to properly prepare or file such Form
        10-D
        resulting from or relating to the Trust Administrator’s inability or failure to
        obtain any information in a timely manner from the party responsible for
        delivery of such Additional Form 10-D Disclosure.

       

      Within
        5
        calendar days after the related Distribution Date (or if not a Business Day,
        the
        immediately preceding Business Day), each entity that is indicated in Exhibit
        B
        as the responsible party for providing Additional Form 10-D Disclosure shall
        be
        required to provide to the Trust
        Administrator and
        the
        Depositor, to the extent known, clearly identifying which item of Form 10-D
        the
        information relates to, any Additional Form 10-D Disclosure, if applicable.
        The
        Trust Administrator shall compile the information provided to it, prepare
        the
        Form 10-D and forward the Form 10-D to the Depositor for verification. The
        Depositor will approve, as to form and substance, or disapprove, as the case
        may
        be, the Form 10-D. No later than three Business Days prior to the 10th
        calendar
        day after the related Distribution Date, an officer of the Depositor shall
        sign
        the Form 10-D and return an electronic or fax copy of such signed Form 10-D
        (with an original executed hard copy to follow by overnight mail) to the
        Trust
        Administrator.

       

      (ii)  Within
        three (3) Business Days after the occurrence of an event requiring disclosure
        on
        Form 8-K (each such event, a “Reportable Event”), the Trust Administrator shall
        prepare and file any Form 8-K, as required by the Exchange Act, (other than
        the
        initial Form 8-K in connection with the issuance of the Certificates, which
        shall be prepared and filed by the Depositor). Any disclosure or information
        related to a Reportable Event or that is otherwise required to be included
        on
        Form 8-K (“Form 8-K Disclosure Information”) shall be determined and prepared by
        the entity that is indicated in Exhibit B as the responsible party for providing
        that information. The Trust Administrator shall not be responsible for
        determining what information is required to be filed on Form 8-K or for any
        filing that is not made on a timely basis in accordance with Regulation AB
        in
        the event that such information is not delivered to the Trust Administrator
        on
        or prior to the fourth Business Day prior to the applicable filing
        deadline.

       

      For
        so
        long as the Trust is subject to the Exchange Act reporting requirements,
        no
        later than the end of business on the second Business Day after the occurrence
        of a Reportable Event, the entity that is indicated in Exhibit B as the
        responsible party for providing Form 8-K Disclosure Information shall be
        required to provide to the Trust Administrator, to the extent known, the
        form
        and substance of any Form 8-K Disclosure Information, if applicable. The
        Trust
        Administrator shall compile the information provided to it, and prepare and
        file
        the Form 8-K, which shall be signed by an officer of the Depositor.

       

      (iii) Prior
        to
        January 30 of the first year in which the Trust Administrator is able to
        do so
        under applicable law, the Trust Administrator shall, in accordance with industry
        standards, file a Form 15 Suspension Notice with respect to the Trust Fund,
        if
        applicable. Prior to (x) March 15, 2008 and (y) unless and until a Form 15
        Suspension Notice shall have been filed, prior to March 15 of each year
        thereafter, the Servicer shall provide the Trust Administrator with an Annual
        Compliance Statement, together with a copy of the Assessment of Compliance
        and
        Attestation Report to be delivered by the Servicer pursuant to Sections 3.20
        and
        3.21 (including with respect to any Sub-Servicer or any subcontractor, if
        required to be filed). Prior to (x) March 31, 2008 and (y) unless and until
        a
        Form 15 Suspension Notice shall have been filed, March 31 of each year
        thereafter, the Trust Administrator shall file a Form 10-K, in substance
        as
        required by applicable law or applicable Securities and Exchange Commission
        staff’s interpretations and conforming to industry standards, with respect to
        the Trust Fund. Such Form 10-K shall include the Assessment of Compliance,
        Attestation Report, Annual Compliance Statements and other documentation
        provided by the Servicer pursuant to Sections 3.20 and 3.21 (including with
        respect to any Sub-Servicer or subcontractor, if required to be filed) and
        Section 3.21 with respect to the Trust Administrator, and the Form 10-K
        certification in the form attached hereto as Exhibit H-1 (the “Certification”)
        signed by the senior officer of the Depositor in charge of securitization.
        The
        Trust Administrator shall receive the items described in the preceding sentence
        no later than March 15th
        of each
        calendar year prior to the filing deadline for the Form 10-K.

       

      If
        information, data and exhibits to be included in the Form 10-K are not so
        timely
        delivered, the Trust Administrator shall file an amended Form 10-K
        including such documents as exhibits reasonably promptly after they are
        delivered to the Trust Administrator. The Trust Administrator shall have
        no
        liability with respect to any failure to properly prepare or file such periodic
        reports resulting from or relating to the Trust Administrator’s inability or
        failure to timely obtain any information from any other party.

       

      Prior
        to
        (x) March 1, 2008 and (y) unless and until a Form 15 Suspension Notice shall
        have been filed, prior to March 1st
        of each
        year thereafter, each entity that is indicated in Exhibit B as the responsible
        party for providing Additional Form 10-K Disclosure shall be required to
        provide
        to the Trust Administrator and the Depositor, to the extent known, the form
        and
        substance of any Additional Form 10-K Disclosure Information, if applicable.
        The
        Trust Administrator shall compile the information provided to it, prepare
        the
        Form 10-K and forward the Form 10-K to the Depositor for verification. The
        Depositor will approve, as to form and substance, or disapprove, as the case
        may
        be, the Form 10-K by no later than March 25th
        of the
        relevant year (or the immediately preceding Business Day if March 25th
        is not a
        Business Day), an officer of the Depositor shall sign the Form 10-K and return
        an electronic or fax copy of such signed Form 10-K (with an original executed
        hard copy to follow by overnight mail) to the Trust Administrator.

       

      The
        Servicer shall be responsible for determining the pool concentration applicable
        to any Sub-Servicer to which the Servicer delegated any of its responsibilities
        with respect to the Mortgage Loans at any time, for purposes of disclosure
        as
        required by Items 1117 and 1119 of Regulation AB. The Trust Administrator
        will
        provide electronic or paper copies of all Form 10-D, 8-K and 10-K filings
        free
        of charge to any Certificateholder upon written request. Any expenses incurred
        by the Trust Administrator in connection with the previous sentence shall
        be
        reimbursable to the Trust Administrator out of the Trust Fund.

       

      The
        Trust
        Administrator shall sign a certification (in the form attached hereto as
        Exhibit H-2) for the benefit of the Depositor and its officers, directors
        and Affiliates in respect of items 1 through 3 of the Certification (the
“Trust
        Administrator Certification”) (provided, however, that the Trust Administrator
        shall not undertake an analysis of the Attestation Report attached as an
        exhibit
        to the Form 10-K), and the Servicer shall sign a certification (the “Servicer
        Certification) solely with respect to the Servicer (in the form attached
        hereto
        as Exhibit H-3) for the benefit of the Depositor, the Trust Administrator
        and each Person, if any, who “controls” the Depositor or the Trust Administrator
        within the meaning of the Securities Act of 1933, as amended, and their
        respective officers and directors. Each such certification shall be delivered
        to
        the Depositor and the Trust Administrator by March 20th
        of each
        year (or if not a Business Day, the immediately preceding Business Day).
        The
        Certification attached hereto as Exhibit H-1 shall be delivered to the
        Trust Administrator by March 25th
        for
        filing on or prior to March 31st
        of each
        year (or if not a Business Day, the immediately preceding Business
        Day).

       

      (b)  In
        addition, (A) the Trust Administrator shall indemnify and hold harmless the
        Depositor and its officers, directors and Affiliates from and against any
        actual
        losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal
        fees and related costs, judgments and other costs and expenses arising out
        of
        third party claims based upon (i) a breach of the Trust Administrator’s
        obligations under this Section 4.07 or (ii) any material misstatement or
        omission contained in the Trust Administrator Certification and (B) the Servicer
        shall indemnify and hold harmless the Depositor, the Trust Administrator
        and
        their respective officers, directors and Affiliates from and against any
        actual
        losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal
        fees and related costs, judgments and other costs and expenses that such
        Person
        may sustain arising out of third party claims based upon (i) a breach of
        such
        Servicer’s obligations under this Section 4.07, (ii) any material misstatement
        or omission contained in the Assessment of Compliance provided by the Servicer
        pursuant to Section 3.21 or (iii) any information correctly derived by the
        Trust
        Administrator and included in a Form 10-D or Form 10-K from information provided
        to the Trust Administrator by the Servicer under this Agreement. If the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless the Depositor, then (i) the Trust Administrator agrees that it shall
        contribute to the amount paid or payable by the Depositor as a result of
        the
        losses, claims, damages or liabilities of the Depositor in such proportion
        as is
        appropriate to reflect the relative fault of the Depositor on the one hand
        and
        the Trust Administrator on the other and (ii) the Servicer agrees that it
        shall
        contribute to the amount paid or payable by the Depositor as a result of
        the
        losses, claims, damages or liabilities of the Depositor in such proportion
        as is
        appropriate to reflect the relative fault of the Depositor on the one hand
        and
        the Servicer on the other. Notwithstanding the foregoing, in no event shall
        the
        Trust Administrator be liable for any consequential, indirect or punitive
        damages.

       

      
        	
              	SECTION
                4.08	
                Cap
                  Account

              

      

       

      (a)  No
        later
        than the Closing Date, the Trustee shall establish and maintain with itself
        or
        the Cap Administrator, a separate, segregated trust account titled, “Citibank,
        N.A., as Cap Trustee, in trust for the registered holders of Citigroup Mortgage
        Loan Trust 2007-WFHE2, Asset-Backed Certificates, Series 2007-WFHE2—Cap
        Account.” Such account shall be an Eligible Account and amounts therein shall be
        held uninvested.

       

      (b)  Prior
        to
        each Distribution Date, pursuant to the Cap Administration Agreement, prior
        to
        any distribution to any Certificate, the Cap Administrator on behalf of the
        Cap
        Trustee shall deposit into the Cap Account amounts received by it under the
        Interest Rate Cap Agreement, for distribution in accordance with Section
        4.01(a)(6) above. 

       

      (c)  It
        is the
        intention of the parties hereto that, for federal and state income and state
        and
        local franchise tax purposes, the Cap Account be disregarded as an entity
        separate from the Holder of the Class CE Certificates unless and until the
        date
        when either (a) there is more than one Class CE Certificateholder or (b)
        any
        Class of Certificates in addition to the Class CE Certificates is
        recharacterized as an equity interest in the Cap Account for federal income
        tax
        purposes, in which case it is the intention of the parties hereto that, for
        federal and state income and state and local franchise tax purposes, the
        Cap
        Account be treated as a partnership. If the Cap Account becomes characterized
        as
        a partnership for federal income tax purposes, the Trust Administrator shall
        (i)
        obtain, or cause to be obtained, a taxpayer identification number for the
        Cap
        Account and (ii) prepare and file, or cause to be prepared and filed, any
        necessary federal, state or local tax returns for the Cap Account. Upon the
        termination of the Trust Fund, or the payment in full of the Floating Rate
        Certificates, all amounts remaining on deposit in the Cap Account shall be
        released by the Trust Fund and distributed to the Class CE Certificateholders
        or
        their designees. The Cap Account shall be part of the Trust Fund but not
        part of
        any Trust REMIC and any payments to the Holders of the Floating Rate
        Certificates of Net WAC Rate Carryover Amounts will not be payments with
        respect
        to a “regular interest” in a REMIC within the meaning of Code Section
        860(G)(a)(1).

       

      By
        accepting a Class CE Certificate, each Class CE Certificateholder hereby
        agrees
        to direct the Trust Administrator, and the Trust Administrator is hereby
        directed, to deposit into the Cap Account the amounts described above on
        each
        Distribution Date.

       

      
        	
              	SECTION
                4.09	
                Interest
                  Rate Cap Collateral Account.

              

      

       

      The
        Trustee (in its capacity as Cap Trustee) is hereby directed to perform the
        obligations of the Custodian as defined under the Interest Rate Cap Credit
        Support Annex (the “Interest Rate Cap Custodian”). On or before the Closing
        Date, the Interest Rate Cap Custodian shall establish an Interest Rate Cap
        Collateral Account. The Interest Rate Cap Collateral Account shall be held
        in
        the name of the Interest Rate Cap Custodian in trust for the benefit of the
        Certificateholders. The Interest Rate Cap Collateral Account must be an Eligible
        Account and shall be titled “Interest Rate Cap Collateral Account, Citibank,
        N.A., as Interest Rate Cap Custodian for registered Certificateholders of
        Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed Pass-Through
        Certificates, Series 2007-WFHE2.”

       

      The
        Interest Rate Cap Custodian shall credit to Interest Rate Cap Collateral
        Account
        all collateral (whether in the form of cash or securities) posted by the
        Interest Rate Cap Provider to secure the obligations of the Interest Rate
        Cap
        Provider in accordance with the terms of the Interest Rate Cap Agreement.
        Except
        for investment earnings, the Interest Rate Cap Provider shall not have any
        legal, equitable or beneficial interest in the Interest Rate Cap Collateral
        Account other than in accordance with this Agreement, the Interest Rate Cap
        Agreement and applicable law. The Interest Rate Cap Custodian shall maintain
        and
        apply all collateral and earnings thereon on deposit in the Interest Rate
        Cap
        Collateral Account in accordance with Interest Rate Cap Credit Support
        Annex.

       

      Cash
        collateral posted by the Interest Rate Cap Provider in accordance with the
        Interest Rate Cap Credit Support Annex shall be invested at the direction
        of the
        Interest Rate Cap Provider in Permitted Investments in accordance with the
        requirements of the Interest Rate Cap Credit Support Annex. All amounts earned
        on amounts on deposit in the Interest Rate Cap Collateral Account (whether
        cash
        collateral or securities) shall be for the account of and taxable to the
        Interest Rate Cap Provider.

       

      Upon
        the
        occurrence of an Event of Default or Specified Condition (each as defined
        in the
        Interest Rate Cap Agreement) with respect to the Interest Rate Cap Provider
        or
        upon occurrence or designation of an Early Termination Date (as defined in
        the
        Interest Rate Cap Agreement) as a result of any such Event of Default or
        Specified Condition with respect to the Interest Rate Cap Provider, and,
        in
        either such case, unless the Interest Rate Cap Provider has paid in full
        all of
        its Obligations (as defined in the Interest Rate Cap Credit Support Annex)
        that
        are then due, then any collateral posted by the Interest Rate Cap Provider
        in
        accordance with the Interest Rate Cap Credit Support Annex shall be applied
        to
        the payment of any Obligations due to Party B (as defined in the Interest
        Rate
        Cap Agreement) in accordance with the Interest Rate Cap Credit Support Annex.
        Any excess amounts held in such Cap Collateral Account after payment of all
        amounts owing to Party B under the Interest Rate Cap Agreement shall be
        withdrawn from the Cap Collateral Account and paid to the Interest Rate Cap
        Provider in accordance with the Interest Rate Cap Credit Support Annex.

       

      
        	
              	SECTION
                4.10	
                Rights
                  and Obligations Under the Interest Rate Cap Agreement. 

              

      

       

      In
        the
        event that the Interest Rate Cap Provider fails to perform any of its
        obligations under the Interest Rate Cap Agreement (including, without
        limitation, its obligation to make any payment or transfer collateral), or
        breaches any of its representations and warranties thereunder, or in the
        event
        that any Event of Default, Termination Event, or Additional Termination Event
        (each as defined in the Interest Rate Cap Agreement) occurs with respect
        to the
        Interest Rate Cap Agreement, the Trustee (in its capacity as Cap Trustee)
        shall,
        promptly following actual knowledge of such failure, breach or event, notify
        the
        Depositor and send any notices and make any demands, on behalf of the Cap
        Trust,
        required to enforce the rights of the Cap Trust under the Interest Rate Cap
        Agreement.

       

      In
        the
        event that the Interest Rate Cap Provider’s obligations are guaranteed by a
        third party under a guaranty relating to the Interest Rate Cap Agreement
        (such
        guaranty the “Guaranty” and such third party the “Guarantor”), then to the
        extent that the Interest Rate Cap Provider fails to make any payment by the
        close of business on the day it is required to make payment under the terms
        of
        the Interest Rate Cap Agreement, the Trustee (in its capacity as Cap Trustee)
        shall, promptly following actual knowledge of the Interest Rate Cap Provider’s
        failure to pay, demand that the Guarantor make any and all payments then
        required to be made by the Guarantor pursuant to such Guaranty; provided,
        that
        the Trustee (in its capacity as Cap Trustee) shall in no event be liable
        for any
        failure or delay in the performance by the Interest Rate Cap Provider or
        any
        Guarantor of its obligations hereunder or pursuant to the Interest Rate Cap
        Agreement and the Guaranty, nor for any special, indirect or consequential
        loss
        or damage of any kind whatsoever (including but not limited to lost profits)
        in
        connection therewith.

       

      Upon
        an
        early termination of the Interest Rate Cap Agreement other than in connection
        with the optional termination of the Trust, the Trustee (in its capacity
        as Cap
        Trustee) will, at the direction of the Depositor, use reasonable efforts
        to
        appoint a successor Interest Rate Cap Provider to enter into a new interest
        rate
        cap agreement on terms substantially similar to the Interest Rate Cap Agreement,
        with a successor Interest Rate Cap Provider meeting all applicable eligibility
        requirements. If the Trustee (in its capacity as Cap Trustee) receives a
        termination payment from the Interest Rate Cap Provider in connection with
        such
        early termination, the Trustee (in its capacity as Cap Trustee) will apply
        such
        termination payment to any upfront payment required to appoint the successor
        Interest Rate Cap Provider. If the Trustee (in its capacity as Cap Trustee)
        is
        required to pay a termination payment to the Interest Rate Cap Provider in
        connection with such early termination, the Trustee (in its capacity as Cap
        Trustee) will apply any upfront payment received from the successor Interest
        Rate Cap Provider to pay such termination payment.

       

      If
        the
        Trustee (in its capacity as Cap Trustee) is unable to appoint a successor
        Interest Rate Cap Provider within 30 days of the early termination, then
        the
        Trustee (in its capacity as Cap Trustee) will deposit any termination payment
        received from the original Interest Rate Cap Provider into a separate,
        non-interest bearing reserve account and will, on each subsequent Distribution
        Date, withdraw from the amount then remaining on deposit in such reserve
        account
        an amount equal to the payment, if any, that would have been paid to the
        Trustee
        (in its capacity as Cap Trustee) by the original Interest Rate Cap Provider
        calculated in accordance with the terms of the original Interest Rate Cap
        Agreement, and distribute such amount in accordance with the terms of Section
        4.01(a)(6).

       

      Upon
        an
        early termination of the Interest Rate Cap Agreement in connection with the
        optional termination of the Trust, if the Trustee (in its capacity as Cap
        Trustee) receives a termination payment from the Interest Rate Cap Provider,
        such termination payment will be distributed in accordance with Section
        4.01(a)(6).

       

      ARTICLE
        V

       

      THE
        CERTIFICATES

       

      
        	
              	SECTION
                5.01	
                The
                  Certificates.

              

      

       

      (a)  The
        Certificates in the aggregate will represent the entire beneficial ownership
        interest in the Mortgage Loans and all other assets included in the Trust
        Fund.
        At the Closing Date, the aggregate Certificate Principal Balance of the
        Certificates will equal the aggregate Stated Principal Balance of the Mortgage
        Loans.

       

      The
        Certificates will be substantially in the forms annexed hereto as Exhibits
        A-1
        through A-19. The Certificates of each Class will be issuable in registered
        form
        only, in denominations of authorized Percentage Interests as described in
        the
        definition thereof. Each Certificate will share ratably in all rights of
        the
        related Class.

       

      Upon
        original issue, the Certificates shall be executed, authenticated and delivered
        by the Trust Administrator to or upon the order of the Depositor. The
        Certificates shall be executed and attested by manual or facsimile signature
        on
        behalf of the Trust Administrator by an authorized signatory. Certificates
        bearing the manual or facsimile signatures of individuals who were at any
        time
        the proper officers of the Trust Administrator shall bind the Trust
        Administrator, notwithstanding that such individuals or any of them have
        ceased
        to hold such offices prior to the execution, authentication and delivery
        of such
        Certificates or did not hold such offices at the date of such Certificates.
        No
        Certificate shall be entitled to any benefit under this Agreement or be valid
        for any purpose, unless there appears on such Certificate a certificate of
        authentication substantially in the form provided herein executed by the
        Trust
        Administrator by manual signature, and such certificate of authentication
        shall
        be conclusive evidence, and the only evidence, that such Certificate has
        been
        duly authenticated and delivered hereunder. All Certificates shall be dated
        the
        date of their authentication.

       

      (b)  The
        Book-Entry Certificates shall initially be issued as one or more Certificates
        held by Book-Entry Custodian or, if appointed to hold such Certificates as
        provided below, the Depository and registered in the name of the Depository
        or
        its nominee and, except as provided below, registration of such Certificates
        may
        not be transferred by the Trust Administrator except to another Depository
        that
        agrees to hold such Certificates for the respective Certificate Owners with
        Ownership Interests therein. The Certificate Owners shall hold their respective
        Ownership Interests in and to such Certificates through the book-entry
        facilities of the Depository and, except as provided below, shall not be
        entitled to definitive, fully registered Certificates (“Definitive
        Certificates”) in respect of such Ownership Interests. All transfers by
        Certificate Owners of their respective Ownership Interests in the Book-Entry
        Certificates shall be made in accordance with the procedures established
        by the
        Depository Participant or brokerage firm representing such Certificate Owner.
        Each Depository Participant shall only transfer the Ownership Interests in
        the
        Book-Entry Certificates of Certificate Owners it represents or of brokerage
        firms for which it acts as agent in accordance with the Depository’s normal
        procedures. The Trust Administrator is hereby initially appointed as the
        Book-Entry Custodian and hereby agrees to act as such in accordance herewith
        and
        in accordance with the agreement that it has with the Depository authorizing
        it
        to act as such. The Book-Entry Custodian may, and if it is no longer qualified
        to act as such, the Book-Entry Custodian shall, appoint, by a written instrument
        delivered to the Depositor, the Servicer and the Trust Administrator and
        any
        other transfer agent (including the Depository or any successor Depository)
        to
        act as Book-Entry Custodian under such conditions as the predecessor Book-Entry
        Custodian and the Depository or any successor Depository may prescribe, provided
        that the predecessor Book-Entry Custodian shall not be relieved of any of
        its
        duties or responsibilities by reason of any such appointment of other than
        the
        Depository. If the Trust Administrator resigns or is removed in accordance
        with
        the terms hereof, the successor Trust Administrator or, if it so elects,
        the
        Depository shall immediately succeed to its predecessor’s duties as Book-Entry
        Custodian. The Depositor shall have the right to inspect, and to obtain copies
        of, any Certificates held as Book-Entry Certificates by the Book-Entry
        Custodian.

       

      The
        Trustee, the Trust Administrator, the Servicer and the Depositor may for
        all
        purposes (including the making of payments due on the Book-Entry Certificates)
        deal with the Depository as the authorized representative of the Certificate
        Owners with respect to the Book-Entry Certificates for the purposes of
        exercising the rights of Certificateholders hereunder. The rights of Certificate
        Owners with respect to the Book-Entry Certificates shall be limited to those
        established by law and agreements between such Certificate Owners and the
        Depository Participants and brokerage firms representing such Certificate
        Owners. Multiple requests and directions from, and votes of, the Depository
        as
        Holder of the Book-Entry Certificates with respect to any particular matter
        shall not be deemed inconsistent if they are made with respect to different
        Certificate Owners. The Trust Administrator may establish a reasonable record
        date in connection with solicitations of consents from or voting by
        Certificateholders and shall give notice to the Depository of such record
        date.

       

      If
        (i)(A)
        the Depositor advises the Trust Administrator in writing that the Depository
        is
        no longer willing or able to properly discharge its responsibilities as
        Depository, and (B) the Depositor is unable to locate a qualified successor
        or
        (ii) after the occurrence of a Servicer Event of Default, Certificate Owners
        representing in the aggregate not less than 51% of the Ownership Interests
        of
        the Book-Entry Certificates advise the Trust Administrator through the
        Depository, in writing, that the continuation of a book-entry system through
        the
        Depository is no longer in the best interests of the Certificate Owners,
        the
        Trust Administrator shall notify all Certificate Owners, through the Depository,
        of the occurrence of any such event and of the availability of Definitive
        Certificates to Certificate Owners requesting the same. Upon surrender to
        the
        Trust Administrator of the Book- Entry Certificates by the Book-Entry Custodian
        or the Depository, as applicable, accompanied by registration instructions
        from
        the Depository for registration of transfer, the Trust Administrator shall
        issue
        the Definitive Certificates. Such Definitive Certificates will be issued
        in
        minimum denominations of $25,000, except that any beneficial ownership that
        was
        represented by a Book-Entry Certificate in an amount less than $25,000
        immediately prior to the issuance of a Definitive Certificate shall be issued
        in
        a minimum denomination equal to the amount represented by such Book-Entry
        Certificate. None of the Depositor, the Servicer, the Trust Administrator
        or the
        Trustee shall be liable for any delay in the delivery of such instructions
        and
        may conclusively rely on, and shall be protected in relying on, such
        instructions. Upon the issuance of Definitive Certificates all references
        herein
        to obligations imposed upon or to be performed by the Depository shall be
        deemed
        to be imposed upon and performed by the Trust Administrator, to the extent
        applicable with respect to such Definitive Certificates, and the Trust
        Administrator shall recognize the Holders of the Definitive Certificates
        as
        Certificateholders hereunder. 

       

      
        	
              	SECTION
                5.02	
                Registration
                  of Transfer and Exchange of
                  Certificates.

              

      

       

      (a)  The
        Trust
        Administrator shall cause to be kept at one of the offices or agencies to
        be
        appointed by the Trust Administrator in accordance with the provisions of
        Section 8.12 a Certificate Register for the Certificates in which, subject
        to
        such reasonable regulations as it may prescribe, the Trust Administrator
        shall
        provide for the registration of Certificates and of transfers and exchanges
        of
        Certificates as herein provided. 

       

      (b)  No
        transfer of any Private Certificate shall be made unless that transfer is
        made
        pursuant to an effective registration statement under the Securities Act
        of
        1933, as amended (the “1933 Act”), and effective registration or qualification
        under applicable state securities laws, or is made in a transaction that
        does
        not require such registration or qualification. In the event that such a
        transfer of a Private Certificate is to be made without registration or
        qualification (other than in connection with (i) the initial transfer of
        any
        such Certificate by the Depositor to an Affiliate of the Depositor or, in
        the
        case of the Residual Certificates, the first transfer by an Affiliate of
        the
        Depositor or the first transfer by the initial transferee of an Affiliate
        of the
        Depositor, (ii) the transfer of any such Class CE, Class P or Residual
        Certificate to the issuer under the Indenture or the indenture trustee or
        indenture trustee administrator under the Indenture or (iii) a transfer of
        any
        such Class CE, Class P or Residual Certificate from the issuer under the
        Indenture or the indenture trustee or indenture trustee administrator under
        the
        Indenture to the Depositor or an Affiliate of the Depositor), the Trustee
        shall
        require receipt of: (i) if such transfer is purportedly being made in reliance
        upon Rule 144A under the 1933 Act, written certifications from the
        Certificateholder desiring to effect the transfer and from such
        Certificateholder’s prospective transferee, substantially in the forms attached
        hereto as Exhibit F-1; and (ii) in all other cases, an Opinion of Counsel
        satisfactory to it that such transfer may be made without such registration
        (which Opinion of Counsel shall not be an expense of the Trust Fund or of
        the
        Depositor, the Trustee, the Trust Administrator, the Servicer, in its capacity
        as such, or any Sub-Servicer), together with copies of the written
        certification(s) of the Certificateholder desiring to effect the transfer
        and/or
        such Certificateholder’s prospective transferee upon which such Opinion of
        Counsel is based, if any. None of the Depositor, the Trust Administrator
        or the
        Trustee is obligated to register or qualify any such Certificates under the
        1933
        Act or any other securities laws or to take any action not otherwise required
        under this Agreement to permit the transfer of such Certificates without
        registration or qualification. Any Certificateholder desiring to effect the
        transfer of any such Certificate shall, and does hereby agree to, indemnify
        the
        Trustee, the Trust Administrator, the Depositor and the Servicer against
        any
        liability that may result if the transfer is not so exempt or is not made
        in
        accordance with such federal and state laws.

       

      Notwithstanding
        the foregoing, in the event of any such transfer of any Ownership Interest
        in
        any Private Certificate that is a Book-Entry Certificate, except with respect
        to
        the initial transfer of any such Ownership Interest by the Depositor, such
        transfer shall be required to be made in reliance upon Rule 144A under the
        1933
        Act, and the transferee will be deemed to have made each of the transferee
        representations and warranties set forth Exhibit F-1 hereto in respect of
        such
        interest as if it was evidenced by a Definitive Certificate. The Certificate
        Owner of any such Ownership Interest in any such Book-Entry Certificate desiring
        to effect such transfer shall, and does hereby agree to, indemnify the Trustee
        and the Depositor against any liability that may result if the transfer is
        not
        so exempt or is not made in accordance with such federal and state
        laws.

       

      Notwithstanding
        the foregoing, no certification or Opinion of Counsel described in this Section
        5.02(b) will be required in connection with the transfer, on the Closing
        Date,
        of any Residual Certificate by the Depositor to an “accredited investor” within
        the meaning of Rule 501(d) of the 1933 Act.

       

      No
        transfer of a Private Certificate or any interest therein shall be made to
        any
        Plan, any Person acting, directly or indirectly, on behalf of any such Plan
        or
        any Person acquiring such Certificates with “Plan Assets” of a Plan within the
        meaning of the Department of Labor regulation promulgated at 29 C.F.R.§
2510.3-101 (“Plan Assets”), as certified by such transferee in the form of
        Exhibit G, unless the Trust Administrator is provided with an Opinion of
        Counsel
        on which the Trust Administrator, the Depositor, the Trustee and the Servicer
        may rely, to the effect that the purchase of such Certificates is permissible
        under ERISA and the Code, will not constitute or result in any non-exempt
        prohibited transaction under ERISA or Section 4975 of the Code and will not
        subject the Depositor, the Servicer, the Trustee, the Trust Administrator
        or the
        Trust Fund to any obligation or liability (including obligations or liabilities
        under ERISA or Section 4975 of the Code) in addition to those undertaken
        in this
        Agreement, which Opinion of Counsel shall not be an expense of the Depositor,
        the Servicer, the Trustee, the Trust Administrator or the Trust Fund. Neither
        a
        certification nor an Opinion of Counsel will be required in connection with
        (i)
        the initial transfer of any such Certificate by the Depositor to an Affiliate
        of
        the Depositor or, in the case of the Residual Certificates, the first transfer
        by an Affiliate of the Depositor, (ii) the transfer of any such Class CE,
        Class
        P or Residual Certificate to the issuer under the Indenture or the indenture
        trustee under the Indenture or (iii) a transfer of any such Class CE, Class
        P or
        Residual Certificate from the issuer under the Indenture or the indenture
        trustee under the Indenture to the Depositor or an Affiliate of the Depositor
        (in which case, the Depositor or any Affiliate thereof shall have deemed
        to have
        represented that such Affiliate is not a Plan or a Person investing Plan
        Assets)
        and the Trust Administrator shall be entitled to conclusively rely upon a
        representation (which, upon the request of the Trust Administrator, shall
        be a
        written representation) from the Depositor of the status of such transferee
        as
        an affiliate of the Depositor.

       

      Each
        beneficial owner of a Mezzanine Certificate or any interest therein shall
        be
        deemed to have represented, by virtue of its acquisition or holding of that
        Certificate or interest therein, that either (i) it is not a Plan or a person
        using assets of a Plan, (ii) it has acquired and is holding such Certificate
        in
        reliance on the Exemption, and that it understands that there are certain
        conditions to the availability of the Exemption, including that the Certificate
        must be rated, at the time of purchase, not lower than “BBB-” (or its
        equivalent) by S&P, Fitch Ratings or Moody’s and the Certificate is so rated
        or (iii) (1) it is an insurance company, (2) the source of funds used to
        acquire
        or hold the Certificate or interest therein is an “insurance company general
        account”, as such term is defined in PTCE 95-60, and (3) the conditions in
        Sections I and III of PTCE 95-60 have been satisfied.

       

      If
        any
        Certificate or any interest therein is acquired or held in violation of the
        provisions of the preceding three paragraphs, the next preceding permitted
        beneficial owner will be treated as the beneficial owner of that Certificate
        retroactive to the date of transfer to the purported beneficial owner. Any
        purported beneficial owner whose acquisition or holding of any such Certificate
        or interest therein was effected in violation of the provisions of the preceding
        three paragraphs shall indemnify and hold harmless the Depositor, the Servicer,
        the Trustee, the Trust Administrator and the Trust Fund from and against
        any and
        all liabilities, claims, costs or expenses incurred by those parties as a
        result
        of that acquisition or holding.

       

      No
        transfer of any Class CE Certificate shall be made unless the proposed
        transferee of such Class CE Certificate (1) provides to the Trustee the
        appropriate tax certification forms that would eliminate any withholding
        or
        deduction for taxes from amounts payable by the Cap Provider, pursuant to
        the
        Interest Rate Cap Agreement, to the Cap Trustee (i.e., IRS Form W-9 or IRS
        Form
        W-8BEN, W-8IMY, W-8EXP or W-8ECI, as applicable (or any successor form thereto),
        together with any applicable attachments) and (2) agrees to update such form
        (a)
        upon expiration of any such form, (b) as required under then applicable U.S.
        Treasury regulations and (c) promptly upon learning that such form has become
        obsolete or incorrect, each as a condition to such transfer. In addition,
        no
        transfer of any Class CE Certificate shall be made if such transfer would
        cause
        the Cap Trust to be beneficially owned by two or more persons for federal
        income
        tax purposes, or continue to be so treated, unless (i) each proposed transferee
        of such Class CE Certificate complies with the foregoing conditions, (ii)
        the
        proposed majority holder of the Class CE Certificates (or each holder, if
        there
        is or would be no majority holder) (A) provides, or causes to be provided,
        on
        behalf of the Cap Trust, if applicable, the appropriate tax certification
        form
        that would be required from the Cap Trust to eliminate any withholding or
        deduction for taxes from amounts payable by the Cap Provider, pursuant to
        the
        Interest Rate Cap Agreement, to the Cap Trustee (i.e., IRS Form W-9 or IRS
        Form
        W-8BEN, W-8IMY, W-8EXP or W-8ECI, as applicable (or any successor form thereto),
        together with any applicable attachments) and (B) agrees to update such form
        (x)
        upon expiration of any such form, (y) as required under then applicable U.S.
        Treasury regulations and (z) promptly upon learning that such form has become
        obsolete or incorrect. If, under applicable U.S. Treasury regulations, such
        tax
        certification form may only be signed by a trustee acting on behalf of the
        Cap
        Trust, then the Cap Trustee shall sign such certification form if so requested
        by a holder of the Class CE Certificates. Upon receipt of any tax certification
        form pursuant to the preceding conditions from a proposed transferee of any
        Class CE Certificate, the Trustee shall forward each tax certification form
        attributable to the Interest Rate Cap Agreement to the Cap Trustee. The Cap
        Trustee shall forward such tax certification forms provided to them to the
        Cap
        Provider. Each holder of a Class CE Certificate and each transferee thereof
        shall be deemed to have consented to the Cap Trustee forwarding to the Cap
        Provider any tax certification form it has provided and updated in accordance
        with these transfer restrictions. Any purported sales or transfers of any
        Class
        CE Certificate to a transferee which does not comply with the requirements
        of
        this paragraph shall be deemed null and void under this Agreement.

       

      (c)  (i)    
        Each Person who has or who acquires any Ownership Interest in a Residual
        Certificate shall be deemed by the acceptance or acquisition of such Ownership
        Interest to have agreed to be bound by the following provisions and to have
        irrevocably authorized the Trust Administrator or its designee under clause
        (iii)(A) below to deliver payments to a Person other than such Person and
        to
        negotiate the terms of any mandatory sale under clause (iii)(B) below and
        to
        execute all instruments of Transfer and to do all other things necessary
        in
        connection with any such sale. The rights of each Person acquiring any Ownership
        Interest in a Residual Certificate are expressly subject to the following
        provisions:

       

      (A)  Each
        Person holding or acquiring any Ownership Interest in a Residual Certificate
        shall be a Permitted Transferee and shall promptly notify the Trust
        Administrator of any change or impending change in its status as a Permitted
        Transferee.

       

      (B)  In
        connection with any proposed Transfer of any Ownership Interest in a Residual
        Certificate, the Trust Administrator shall require delivery to it and shall
        not
        register the Transfer of any Residual Certificate until its receipt of an
        affidavit and agreement (a “Transfer Affidavit and Agreement”), in the form
        attached hereto as Exhibit F-2, from the proposed Transferee, in form and
        substance satisfactory to the Trust Administrator, representing and warranting,
        among other things, that such Transferee is a Permitted Transferee, that
        it is
        not acquiring its Ownership Interest in the Residual Certificate that is
        the
        subject of the proposed Transfer as a nominee, trustee or agent for any Person
        that is not a Permitted Transferee, that for so long as it retains its Ownership
        Interest in a Residual Certificate, it will endeavor to remain a Permitted
        Transferee, and that it has reviewed the provisions of this Section 5.02(d)
        and
        agrees to be bound by them.

       

      (C)  Notwithstanding
        the delivery of a Transfer Affidavit and Agreement by a proposed Transferee
        under clause (B) above, if a Responsible Officer of the Trust Administrator
        who
        is assigned to this transaction has actual knowledge that the proposed
        Transferee is not a Permitted Transferee, no Transfer of an Ownership Interest
        in a Residual Certificate to such proposed Transferee shall be
        effected.

       

      (D)  Each
        Person holding or acquiring any Ownership Interest in a Residual Certificate
        shall agree (x) to require a Transfer Affidavit and Agreement from any other
        Person to whom such Person attempts to transfer its Ownership Interest in
        a
        Residual Certificate and (y) not to transfer its Ownership Interest unless
        it
        provides a transferor affidavit (a “Transferor Affidavit”), in the form attached
        hereto as Exhibit F-2, to the Trust Administrator stating that, among other
        things, it has no actual knowledge that such other Person is not a Permitted
        Transferee.

       

      (E)  Each
        Person holding or acquiring an Ownership Interest in a Residual Certificate,
        by
        purchasing an Ownership Interest in such Certificate, agrees to give the
        Trust
        Administrator written notice that it is a “pass-through interest holder” within
        the meaning of temporary Treasury regulation Section 1.67- 3T(a)(2)(i)(A)
        immediately upon acquiring an Ownership Interest in a Residual Certificate,
        if
        it is, or is holding an Ownership Interest in a Residual Certificate on behalf
        of, a “pass-through interest holder.”

       

      (ii)  The
        Trust
        Administrator will register the Transfer of any Residual Certificate only
        if it
        shall have received the Transfer Affidavit and Agreement and all of such
        other
        documents as shall have been reasonably required by the Trust Administrator
        as a
        condition to such registration. In addition, no Transfer of a Residual
        Certificate shall be made unless the Trust Administrator shall have received
        a
        representation letter from the Transferee of such Certificate to the effect
        that
        such Transferee is a Permitted Transferee.

       

      (iii)  (A)   
        If
        any
        purported Transferee shall become a Holder of a Residual Certificate in
        violation of the provisions of this Section 5.02(d), then the last preceding
        Permitted Transferee shall be restored, to the extent permitted by law, to
        all
        rights as Holder thereof retroactive to the date of registration of such
        Transfer of such Residual Certificate. The Trust Administrator shall be under
        no
        liability to any Person for any registration of Transfer of a Residual
        Certificate that is in fact not permitted by this Section 5.02(d) or for
        making
        any payments due on such Certificate to the Holder thereof or for taking
        any
        other action with respect to such Holder under the provisions of this
        Agreement.

       

      (B)  If
        any
        purported Transferee shall become a Holder of a Residual Certificate in
        violation of the restrictions in this Section 5.02(d) and to the extent that
        the
        retroactive restoration of the rights of the Holder of such Residual Certificate
        as described in clause (iii)(A) above shall be invalid, illegal or
        unenforceable, then the Trust Administrator shall have the right, without
        notice
        to the Holder or any prior Holder of such Residual Certificate, to sell such
        Residual Certificate to a purchaser selected by the Trust Administrator on
        such
        terms as the Trust Administrator may choose. Such purported Transferee shall
        promptly endorse and deliver each Residual Certificate in accordance with
        the
        instructions of the Trust Administrator. Such purchaser may be the Trust
        Administrator itself or any Affiliate of the Trust Administrator. The proceeds
        of such sale, net of the commissions (which may include commissions payable
        to
        the Trust Administrator or its Affiliates), expenses and taxes due, if any,
        will
        be remitted by the Trust Administrator to such purported Transferee. The
        terms
        and conditions of any sale under this clause (iii)(B) shall be determined
        in the
        sole discretion of the Trust Administrator, and the Trust Administrator shall
        not be liable to any Person having an Ownership Interest in a Residual
        Certificate as a result of its exercise of such discretion.

       

      (iv)  The
        Trust
        Administrator shall make available to the Internal Revenue Service and those
        Persons specified by the REMIC Provisions all information necessary to compute
        any tax imposed (A) as a result of the Transfer of an Ownership Interest
        in a
        Residual Certificate to any Person who is a Disqualified Organization, including
        the information described in Treasury regulations sections 1.860D-1(b)(5)
        and
        1.860E-2(a)(5) with respect to the “excess inclusions” of such Residual
        Certificate and (B) as a result of any regulated investment company, real
        estate
        investment trust, common trust fund, partnership, trust, estate or organization
        described in Section 1381 of the Code that holds an Ownership Interest in
        a
        Residual Certificate having as among its record holders at any time any Person
        which is a Disqualified Organization. Reasonable compensation for providing
        such
        information may be accepted by the Trust Administrator.

       

      (v)  The
        provisions of this Section 5.02(d) set forth prior to this subsection (v)
        may be
        modified, added to or eliminated, provided that there shall have been delivered
        to the Trust Administrator at the expense of the party seeking to modify,
        add to
        or eliminate any such provision the following:

       

      (A)  written
        notification from the Rating Agencies to the effect that the modification,
        addition to or elimination of such provisions will not cause the Rating Agencies
        to downgrade its then-current ratings of any Class of Certificates;
        and

       

      (B)  an
        Opinion of Counsel, in form and substance satisfactory to the Trust
        Administrator, to the effect that such modification of, addition to or
        elimination of such provisions will not cause any Trust REMIC to cease to
        qualify as a REMIC and will not cause (x) any Trust REMIC to be subject to
        an
        entity-level tax caused by the Transfer of any Residual Certificate to a
        Person
        that is not a Permitted Transferee or (y) a Person other than the prospective
        transferee to be subject to a REMIC-tax caused by the Transfer of a Residual
        Certificate to a Person that is not a Permitted Transferee.

       

      (d)  Subject
        to the preceding subsections, upon surrender for registration of transfer
        of any
        Certificate at any office or agency of the Trust Administrator maintained
        for
        such purpose pursuant to Section 8.12, the Trust Administrator shall execute,
        authenticate and deliver, in the name of the designated Transferee or
        Transferees, one or more new Certificates of the same Class of a like aggregate
        Percentage Interest.

       

      (e)  At
        the
        option of the Holder thereof, any Certificate may be exchanged for other
        Certificates of the same Class with authorized denominations and a like
        aggregate Percentage Interest, upon surrender of such Certificate to be
        exchanged at any office or agency of the Trust Administrator maintained for
        such
        purpose pursuant to Section 8.12. Whenever any Certificates are so surrendered
        for exchange, upon notice from the Trust Administrator, the Trust Administrator
        shall execute, authenticate and deliver, the Certificates which the
        Certificateholder making the exchange is entitled to receive. Every Certificate
        presented or surrendered for transfer or exchange shall (if so required by
        the
        Trust Administrator) be duly endorsed by, or be accompanied by a written
        instrument of transfer in the form satisfactory to the Trust Administrator
        duly
        executed by, the Holder thereof or his attorney duly authorized in writing.
        In
        addition, (i) with respect to each Class R Certificate, the Holder thereof
        may
        exchange, in the manner described above, such Class R Certificate for three
        separate Certificates, each representing such Holder’s respective Percentage
        Interest in the Class R-I Interest, the Class R-II Interest and the Class
        R-III
        Interest that was evidenced by the Class R Certificate being exchanged and
        (ii)
        with respect to each Class R-X Certificate, the Holder thereof may exchange,
        in
        the manner described above, such Class R-X Certificate for three separate
        Certificates, each representing such Holder’s respective Percentage Interest in
        the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest,
        respectively, in each case that was evidenced by the Class R-X Certificate
        being
        exchanged.

       

      (f)  No
        service charge to the Certificateholders shall be made for any transfer or
        exchange of Certificates, but the Trust Administrator may require payment
        of a
        sum sufficient to cover any tax or governmental charge that may be imposed
        in
        connection with any transfer or exchange of Certificates.

       

      (g)  All
        Certificates surrendered for transfer and exchange shall be canceled and
        destroyed by the Trust Administrator in accordance with its customary
        procedures.

       

      
        	
              	SECTION
                5.03	
                Mutilated,
                  Destroyed, Lost or Stolen
                  Certificates.

              

      

       

      If
        (i)
        any mutilated Certificate is surrendered to the Trust Administrator, or the
        Trust Administrator receive evidence to its satisfaction of the destruction,
        loss or theft of any Certificate, and (ii) there is delivered to the Trustee
        and
        the Trust Administrator such security or indemnity as may be required by
        them to
        save each of them harmless, then, in the absence of actual knowledge by the
        Trust Administrator that such Certificate has been acquired by a bona fide
        purchaser, the Trust Administrator shall execute, authenticate and deliver,
        in
        exchange for or in lieu of any such mutilated, destroyed, lost or stolen
        Certificate, a new Certificate of the same Class and of like denomination
        and
        Percentage Interest. Upon the issuance of any new Certificate under this
        Section, the Trust Administrator may require the payment of a sum sufficient
        to
        cover any tax or other governmental charge that may be imposed in relation
        thereto and any other expenses (including the fees and expenses of the Trust
        Administrator) connected therewith. Any replacement Certificate issued pursuant
        to this Section shall constitute complete and indefeasible evidence of ownership
        in the applicable REMIC created hereunder, as if originally issued, whether
        or
        not the lost, stolen or destroyed Certificate shall be found at any
        time.

       

      
        	
              	SECTION
                5.04	
                Persons
                  Deemed Owners.

              

      

       

      The
        Depositor, the Servicer, the Trustee, the Trust Administrator and any agent
        of
        any of them may treat the Person in whose name any Certificate is registered
        as
        the owner of such Certificate for the purpose of receiving distributions
        pursuant to Section 4.01 and for all other purposes whatsoever, and none
        of the
        Depositor, the Servicer, the Trustee, the Trust Administrator or any agent
        of
        any of them shall be affected by notice to the contrary.

       

      
        	
              	SECTION
                5.05	
                Certain
                  Available Information.

              

      

       

      The
        Trust
        Administrator shall maintain at its Corporate Trust Office and shall make
        available free of charge during normal business hours for review by any Holder
        of a Certificate or any Person identified to the Trust Administrator as a
        prospective transferee of a Certificate, originals or copies of the following
        items: (A) this Agreement and any amendments hereof entered into pursuant
        to
        Section 11.01, (B) all monthly statements required to be delivered to
        Certificateholders of the relevant Class pursuant to Section 4.02 since the
        Closing Date, and all other notices, reports, statements and written
        communications delivered to the Certificateholders of the relevant Class
        pursuant to this Agreement since the Closing Date, (C) all certifications
        delivered by a Responsible Officer of the Trust Administrator since the Closing
        Date pursuant to Section 10.01(h), (D) any and all Officers’ Certificates
        delivered to the Trust Administrator by the Servicer since the Closing Date
        to
        evidence such Servicer’s determination that any P&I Advance or Servicing
        Advance was, or if made, would be a Nonrecoverable Advance and (E) any and
        all
        Officers’ Certificates delivered to the Trust Administrator by the Servicer
        since the Closing Date pursuant to Section 4.04(a). Copies and mailing of
        any
        and all of the foregoing items will be available from the Trust Administrator
        upon request at the expense of the person requesting the same.

       

      ARTICLE
        VI

       

      THE
        DEPOSITOR AND THE SERVICER

       

      
        	
              	SECTION
                6.01	
                Liability
                  of the Depositor and the Servicer.

              

      

       

      The
        Servicer shall be liable in accordance herewith only to the extent of the
        obligations specifically imposed by this Agreement and undertaken hereunder
        by
        the Servicer herein. The Depositor shall be liable in accordance herewith
        only
        to the extent of the obligations specifically imposed by this Agreement and
        undertaken hereunder by the Depositor herein.

       

      
        	
              	SECTION
                6.02	
                Merger
                  or Consolidation of the Depositor or the
                  Servicer.

              

      

       

      Subject
        to the following paragraph, the Depositor will keep in full effect its
        existence, rights and franchises as a corporation under the laws of the
        jurisdiction of its incorporation. Subject to the following paragraph, the
        Servicer will keep in full effect its existence, rights and franchises as
        a
        corporation under the laws of the jurisdiction of its incorporation and its
        qualification as an approved conventional seller/servicer for Fannie Mae
        or
        Freddie Mac in good standing. The Depositor and the Servicer each will obtain
        and preserve its qualification to do business as a foreign corporation in
        each
        jurisdiction in which such qualification is or shall be necessary to protect
        the
        validity and enforceability of this Agreement, the Certificates or any of
        the
        Mortgage Loans and to perform its respective duties under this
        Agreement.

       

      The
        Depositor or the Servicer may be merged or consolidated with or into any
        Person,
        or transfer all or substantially all of its assets to any Person, in which
        case
        any Person resulting from any merger or consolidation to which the Depositor
        or
        the Servicer shall be a party, or any Person succeeding to the business of
        the
        Depositor or the Servicer, shall be the successor of the Depositor or the
        Servicer, as the case may be, hereunder, without the execution or filing
        of any
        paper or any further act on the part of any of the parties hereto, anything
        herein to the contrary notwithstanding; provided, however, that the successor
        or
        surviving Person to the Servicer shall be qualified to service mortgage loans
        on
        behalf of Fannie Mae or Freddie Mac; and provided further that the Rating
        Agencies’ ratings of the Floating Rate Certificates in effect immediately prior
        to such merger or consolidation will not be qualified, reduced or withdrawn
        as a
        result thereof (as evidenced by a letter to such effect from the Rating
        Agencies).

       

      
        	
              	SECTION
                6.03	
                Limitation
                  on Liability of the Depositor, the Servicer and
                  Others.

              

      

       

      None
        of
        the Depositor, the Servicer (and any Sub-Servicer), the Credit Risk Manager
        or
        any of the directors, officers, employees or agents of the Depositor, the
        Servicer (and any Sub-Servicer) or the Credit Risk Manager shall be under
        any
        liability to the Trust Fund or the Certificateholders for any action taken
        or
        for refraining from the taking of any action in good faith pursuant to this
        Agreement or the related Sub-Servicing Agreement, as applicable, or for errors
        in judgment; provided, however, that this provision shall not protect the
        Depositor, the Servicer (and any Sub-Servicer), the Credit Risk Manager or
        any
        such person against any breach of warranties, representations or covenants
        made
        herein, or against any specific liability imposed on the Servicer (and any
        Sub-Servicer) pursuant hereto or the related Sub-Servicing Agreement, as
        applicable, or against any liability which would otherwise be imposed by
        reason
        of willful misfeasance, bad faith or negligence in the performance of duties
        or
        by reason of reckless disregard of obligations and duties hereunder or the
        related Sub-Servicing Agreement, as applicable. The Depositor, the Servicer
        (and
        any Sub-Servicer), the Credit Risk Manager and any director, officer, employee
        or agent of the Depositor, the Servicer or the Credit Risk Manager may rely
        in
        good faith on any document of any kind which, prima
        facie,
        is
        properly executed and submitted by any Person respecting any matters arising
        hereunder or the related Sub-Servicing Agreement, as applicable. The Depositor,
        the Servicer (and any Sub-Servicer), the Credit Risk Manager and any director,
        officer, employee or agent of the Depositor, the Servicer (and any Sub-Servicer)
        or the Credit Risk Manager shall be indemnified and held harmless by the
        Trust
        Fund against (i) any loss, liability or expense incurred in connection with
        any
        legal action relating to this Agreement or the Certificates (except as any
        such
        loss, liability or expense shall be otherwise reimbursable pursuant to this
        Agreement) or any loss, liability or expense incurred by reason of willful
        misfeasance, bad faith or negligence in the performance of duties hereunder
        or
        the related Sub-Servicing Agreement, as applicable, or by reason of reckless
        disregard of obligations and duties hereunder or the related Sub-Servicing
        Agreement, as applicable, and (ii) any breach of a representation or warranty
        regarding the Mortgage Loans. None of the Depositor, the Servicer (and any
        Sub-Servicer) or the Credit Risk Manager shall be under any obligation to
        appear
        in, prosecute or defend any legal action unless such action is related to
        its
        respective duties under this Agreement or the related Sub-Servicing Agreement,
        as applicable, and, in its opinion, does not involve it in any expense or
        liability; provided, however, that each of the Depositor, the Servicer (and
        any
        Sub-Servicer) and the Credit Risk Manager may in its discretion undertake
        any
        such action which it may deem necessary or desirable with respect to this
        Agreement or the related Sub-Servicing Agreement, as applicable, and the
        rights
        and duties of the parties hereto or to the related Sub-Servicing Agreement,
        as
        applicable, and the interests of the Certificateholders hereunder. In such
        event, unless the Depositor, the Servicer (and any Sub-Servicer) or the Credit
        Risk Manager acts without the consent of Holders of Certificates entitled
        to at
        least 51% of the Voting Rights (which consent shall not be necessary in the
        case
        of litigation or other legal action by either to enforce their respective
        rights
        or defend themselves hereunder or the related Sub-Servicing Agreement, as
        applicable), the legal expenses and costs of such action and any liability
        resulting therefrom (except any loss, liability or expense incurred by reason
        of
        willful misfeasance, bad faith or negligence in the performance of duties
        hereunder or by reason of reckless disregard of obligations and duties hereunder
        or the related Sub-Servicing Agreement, as applicable) shall be expenses,
        costs
        and liabilities of the Trust Fund, and the Depositor (subject to the limitations
        set forth above), the Servicer (and any Sub-Servicer) and the Credit Risk
        Manager shall be entitled to be reimbursed therefor from the Collection Account
        as and to the extent provided in Section 3.11 or from the corresponding
        custodial account established under the related Sub-Servicing Agreement,
        any
        such right of reimbursement being prior to the rights of the Certificateholders
        to receive any amount in the Collection Account.

       

      
        	
              	SECTION
                6.04	
                Limitation
                  on Resignation of the Servicer.

              

      

       

      The
        Servicer shall not resign from the obligations and duties hereby imposed
        on it
        except (i) upon determination that its duties hereunder are no longer
        permissible under applicable law or (ii) with the written consent of the
        Trustee
        and the Trust Administrator, which consent may not be unreasonably withheld,
        with written or electronic confirmation from the Rating Agencies (which
        confirmation shall be furnished to the Depositor, the Trustee and the Trust
        Administrator) that such resignation will not cause the Rating Agencies to
        reduce the then current rating of the Class A Certificates and provided that
        a
        qualified successor has agreed to assume the duties and obligations of the
        Servicer hereunder. Any such determination pursuant to clause (i) of the
        preceding sentence permitting the resignation of the Servicer shall be evidenced
        by an Opinion of Counsel to such effect obtained at the expense of the Servicer
        and delivered to the Trustee and the Trust Administrator. No resignation
        of the
        Servicer shall become effective until the Trust Administrator or the Trustee,
        as
        applicable, in accordance with Section 7.02 hereof, or a successor servicer
        shall have assumed the Servicer’s responsibilities, duties, liabilities (other
        than those liabilities arising prior to the appointment of such successor)
        and
        obligations under this Agreement.

       

      Except
        as
        expressly provided herein, the Servicer shall not assign or transfer any
        of its
        rights, benefits or privileges hereunder to any other Person, nor delegate
        to or
        subcontract with, nor authorize or appoint any other Person to perform any
        of
        the duties, covenants or obligations to be performed by the Servicer hereunder.
        If, pursuant to any provision hereof, the duties of the Servicer are transferred
        to a successor servicer, the entire amount of the Servicing Fee and other
        compensation payable to the Servicer pursuant hereto shall thereafter be
        payable
        to such successor servicer.

       

      
        	
              	SECTION
                6.05	
                Rights
                  of the Depositor in Respect of the
                  Servicer.

              

      

       

      The
        Servicer shall afford (and any Sub-Servicing Agreement shall provide that
        each
        Sub-Servicer shall afford) the Depositor, the Trustee and the Trust
        Administrator, upon reasonable notice, during normal business hours, access
        to
        all records maintained by the Servicer (and any such Sub-Servicer) in respect
        of
        the Servicer’s rights and obligations hereunder and access to officers of the
        Servicer (and those of any such Sub-Servicer) responsible for such obligations.
        Upon request, the Servicer shall furnish to the Depositor, the Trustee and
        the
        Trust Administrator its (and any such Sub-Servicer’s) most recent financial
        statements of the parent company of the Servicer and such other information
        relating to the Servicer’s capacity to perform its obligations under this
        Agreement that it possesses. To the extent such information is not otherwise
        available to the public, the Depositor, the Trustee and the Trust Administrator
        shall not disseminate any information obtained pursuant to the preceding
        two
        sentences without the Servicer’s written consent, except as required pursuant to
        this Agreement or to the extent that it is appropriate to do so (i) in working
        with legal counsel, auditors, taxing authorities or other governmental agencies,
        rating agencies or reinsurers or (ii) pursuant to any law, rule, regulation,
        order, judgment, writ, injunction or decree of any court or governmental
        authority having jurisdiction over the Depositor, the Trustee, the Trust
        Administrator or the Trust Fund, and in either case, the Depositor, the Trustee
        or the Trust Administrator, as the case may be, shall use its best efforts
        to
        assure the confidentiality of any such disseminated non-public information.
        The
        Depositor may, but is not obligated to, enforce the obligations of the Servicer
        under this Agreement and may, but is not obligated to, perform, or cause
        a
        designee to perform, any defaulted obligation of the Servicer under this
        Agreement or exercise the rights of any of the Servicer under this Agreement;
        provided that the Servicer shall not be relieved of any of its obligations
        under
        this Agreement by virtue of such performance by the Depositor or its designee.
        The Depositor shall not have any responsibility or liability for any action
        or
        failure to act by the Servicer and is not obligated to supervise the performance
        of the Servicer under this Agreement or otherwise.

       

      
        	
              	SECTION
                6.06	
                Duties
                  of the Credit Risk Manager.

              

      

       

      For
        the
        Sponsor, on behalf of the Trust, the Credit Risk Manager will provide reports
        and recommendations concerning certain delinquent and defaulted Mortgage
        Loans,
        and as to the collection of any Prepayment Charges with respect to the Mortgage
        Loans. Such reports and recommendations will be based upon information provided
        to the Credit Risk Manager pursuant to the respective Credit Risk Management
        Agreement, and the Credit Risk Manager shall look solely to the Servicer
        for all
        information and data (including loss and delinquency information and data)
        relating to the servicing of the related Mortgage Loans. Upon any termination
        of
        the Credit Risk Manager or the appointment of a successor Credit Risk Manager,
        the Depositor shall give written notice thereof to the Servicer, the Trustee,
        the Trust Administrator and each Rating Agency. Notwithstanding the foregoing,
        the termination of the Credit Risk Manager pursuant to this Section shall
        not
        become effective until the appointment of a successor Credit Risk
        Manager.

       

      
        	
              	SECTION
                6.07	
                Limitation
                  Upon Liability of the Credit Risk
                  Manager.

              

      

       

      Neither
        the Credit Risk Manager, nor any of its directors, officers, employees, or
        agents shall be under any liability to the Trustee, the Certificateholders,
        the
        Trust Administrator or the Depositor for any action taken or for refraining
        from
        the taking of any action made in good faith pursuant to this Agreement, in
        reliance upon information provided by the Servicer under the related Credit
        Risk
        Management Agreement, or for errors in judgment; provided, however, that
        this
        provision shall not protect the Credit Risk Manager or any such person against
        liability that would otherwise be imposed by reason of willful malfeasance
        or
        bad faith in its performance of its duties. The Credit Risk Manager and any
        director, officer, employee, or agent of the Credit Risk Manager 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,
        and may rely in good faith upon the accuracy of information furnished by
        the
        Servicer pursuant to the applicable Credit Risk Management Agreement in the
        performance of its duties thereunder and hereunder.

       

      
        	
              	SECTION
                6.08	
                Removal
                  of the Credit Risk Manager.

              

      

       

      The
        Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders
        holding not less than 66 2/3% of the Voting Rights in the Trust Fund, in
        the
        exercise of its or their sole discretion. The Certificateholders shall provide
        written notice of the Credit Risk Manager’s removal to the Trust
        Administrator.
        Upon
        receipt of such notice, the Trust Administrator shall provide written notice
        to
        the Credit Risk Manager of its removal, which shall be effective upon receipt
        of
        such notice by the Credit Risk Manager.

       

      ARTICLE
        VII

       

      DEFAULT

       

      
        	
              	SECTION
                7.01	
                Servicer
                  Events of Default.

              

      

       

      With
        respect to the Servicer, individually, if any one of the following events
        (“Servicer Event of Default”) shall occur and be continuing:

       

      (i)  any
        failure by the Servicer to remit to the Trust Administrator for distribution
        to
        the Certificateholders any payment (other than a P&I Advance required to be
        made from its own funds on any Servicer Remittance Date pursuant to Section
        4.03) required to be made under the terms of the Certificates and this Agreement
        which continues unremedied for a period of two Business Days after the date
        upon
        which written notice of such failure, requiring the same to be remedied,
        shall
        have been given to the Servicer by the Depositor, the Trust Administrator
        or the
        Trustee (in which case notice shall be provided by telecopy), or to the
        Servicer, the Depositor, the Trust Administrator and the Trustee by the Holders
        of Certificates entitled to at least 25% of the Voting Rights; or

       

      (ii)  any
        failure on the part of the Servicer duly to observe or perform in any material
        respect any other of the covenants or agreements on the part of the Servicer
        contained in this Agreement, or the breach by the Servicer of any representation
        and warranty contained in Section 2.05 (other than representation 2.05(a)(ix)),
        which continues unremedied for a period of 30 days (or if such failure or
        breach
        cannot be remedied within 30 days, then such remedy shall have been commenced
        within 30 days and diligently pursued thereafter; provided, however, that
        in no
        event shall such failure or breach be allowed to exist for a period of greater
        than 60 days) after the earlier of (i) the date on which written notice of
        such
        failure, requiring the same to be remedied, shall have been given to the
        Servicer by the Depositor, the Trust Administrator or the Trustee, or to
        the
        Servicer, the Depositor, the Trust Administrator and the Trustee by the Holders
        of Certificates entitled to at least 25% of the Voting Rights and (ii) actual
        knowledge of such failure by a Servicing Officer; or

       

      (iii)  a
        decree
        or order of a court or agency or supervisory authority having jurisdiction
        in
        the premises in an involuntary case under any present or future federal or
        state
        bankruptcy, insolvency or similar law or the appointment of a conservator
        or
        receiver or liquidator in any insolvency, readjustment of debt, marshalling
        of
        assets and liabilities or similar proceeding, or for the winding-up or
        liquidation of its affairs, shall have been entered against the Servicer
        and if
        such proceeding is being contested by the Servicer in good faith such decree
        or
        order shall have remained in force undischarged or unstayed for a period
        of 60
        consecutive days or results in the entry of an order for relief or any such
        adjudication or appointment; or

       

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

       

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

       

      (vi)  any
        failure of the Servicer to make any P&I Advance on any Servicer Remittance
        Date required to be made from its own funds pursuant to Section 4.03 which
        continues unremedied until 5:00 p.m. New York time on first Business Day
        after
        the date upon which written notice of such failure, requiring the same to
        be
        remedied, shall have been given to the Servicer by the Trust Administrator
        or
        the Trustee (in which case notice shall be provided by telecopy).

       

      If
        a
        Servicer Event of Default described in clauses (i) through (v) of this Section
        shall occur, then, and in each and every such case, so long as such Servicer
        Event of Default shall not have been remedied, the Depositor or the Trustee
        may,
        and at the written direction of the Holders of Certificates entitled to at
        least
        51% of Voting Rights, the Trustee shall, by notice in writing to the Servicer
        (and to the Depositor and the Trust Administrator if given by the Trustee
        or to
        the Trustee and the Trust Administrator if given by the Depositor), terminate
        all of the rights and obligations of the Servicer in its capacity as a Servicer
        under this Agreement, to the extent permitted by law, and in and to the Mortgage
        Loans and the proceeds thereof.
        If a
        Servicer Event of Default described in clause (vi) hereof shall occur and
        shall
        not have been remedied during the applicable time period set forth in clause
        (vi) above, the Trust Administrator shall, by notice in writing to the Servicer
        and the Depositor, terminate all of the rights and obligations of the Servicer
        in its capacity as a Servicer under this Agreement and in and to the Mortgage
        Loans and the proceeds thereof. On
        or
        after the receipt by the Servicer of such written notice, all authority and
        power of the Servicer under this Agreement, whether with respect to the
        Certificates (other than as a Holder of any Certificate) or the Mortgage
        Loans
        or otherwise, shall pass to and be vested in the Trust Administrator pursuant
        to
        and under this Section and, without limitation, the Trust Administrator is
        hereby authorized and empowered, as attorney-in-fact or otherwise, to execute
        and deliver on behalf of and at the expense of the Servicer, any and all
        documents and other instruments and to do or accomplish all other acts or
        things
        necessary or appropriate to effect the purposes of such notice of termination,
        whether to complete the transfer and endorsement or assignment of the Mortgage
        Loans and related documents, or otherwise. The Servicer agrees, at its sole
        cost
        and expense, promptly (and in any event no later than ten Business Days
        subsequent to such notice) to provide the Trust Administrator with all documents
        and records requested by it to enable it to assume the Servicer’s functions
        under this Agreement, and to cooperate with the Trust Administrator in effecting
        the termination of the Servicer’s responsibilities and rights under this
        Agreement, including, without limitation, the transfer within one Business
        Day
        to the Trust Administrator for administration by it of all cash amounts which
        at
        the time shall be or should have been credited by the Servicer to the Collection
        Account held by or on behalf of the Servicer, the Distribution Account or
        any
        REO Account or Servicing Account held by or on behalf of the Servicer or
        thereafter be received with respect to the Mortgage Loans or any REO Property
        serviced by the Servicer (provided, however, that the Servicer shall continue
        to
        be entitled to receive all amounts accrued or owing to it under this Agreement
        on or prior to the date of such termination, whether in respect of P&I
        Advances or otherwise, and shall continue to be entitled to the benefits
        of
        Section 6.03, notwithstanding any such termination, with respect to events
        occurring prior to such termination). For purposes of this Section 7.01,
        the
        Trustee and the Trust Administrator shall not be deemed to have knowledge
        of a
        Servicer Event of Default unless a Responsible Officer of the Trustee or
        the
        Trust Administrator, as the case may be, assigned to and working in the
        Trustee’s or the Trust Administrator’s Corporate Trust Office, as applicable,
        has actual knowledge thereof or unless written notice of any event which
        is in
        fact such a Servicer Event of Default is received by the Trustee or the Trust
        Administrator, as applicable, and such notice references the Certificates,
        the
        Trust Fund or this Agreement.

       

      
        	
              	SECTION
                7.02	
                Trust
                  Administrator or Trustee to Act; Appointment of
                  Successor.

              

      

       

      (a)  On
        and
        after the time the Servicer receives a notice of termination, the Trust
        Administrator (and in the event the Trust Administrator fails in its obligation,
        the Trustee) shall be the successor in all respects to the Servicer in its
        capacity as Servicer under this Agreement, the Servicer shall not have the
        right
        to withdraw any funds from the Collection Account without the consent of
        the
        Trust Administrator or the Trustee, as applicable, and the transactions set
        forth or provided for herein and shall be subject to all the responsibilities,
        duties and liabilities relating thereto and arising thereafter placed on
        the
        Servicer (except for any representations or warranties of the Servicer under
        this Agreement, the responsibilities, duties and liabilities contained in
        Section 2.03(c) and its obligation to deposit amounts in respect of losses
        pursuant to Section 3.12) by the terms and provisions hereof including, without
        limitation, the Servicer’s obligations to make P&I Advances pursuant to
        Section 4.03; provided, however, that if the Trust Administrator or the Trustee,
        as applicable, is prohibited by law or regulation from obligating itself
        to make
        advances regarding delinquent mortgage loans, then the Trust Administrator
        or
        the Trustee, as applicable, shall not be obligated to make P&I Advances
        pursuant to Section 4.03; and provided further, that any failure to perform
        such
        duties or responsibilities caused by the Servicer’s failure to provide
        information required by Section 7.01 shall not be considered a default by
        the
        Trust Administrator or the Trustee, as applicable, as successor to the Servicer
        hereunder. As compensation therefor, the Trust Administrator or the Trustee,
        as
        applicable, shall be entitled to the Servicing Fees and all funds relating
        to
        the Mortgage Loans to which the Servicer would have been entitled if it had
        continued to act hereunder (other than amounts which were due or would become
        due to the Servicer prior to its termination or resignation). Notwithstanding
        the above, the Trust Administrator or the Trustee, as applicable, may, if
        it
        shall be unwilling to so act, or shall, if it is unable to so act or if it
        is
        prohibited by law from making advances regarding delinquent mortgage loans,
        or
        if the Holders of Certificates entitled to at least 51% of the Voting Rights
        so
        request in writing to the Trust Administrator or the Trustee, as applicable,
        promptly appoint or petition a court of competent jurisdiction to appoint,
        an
        established mortgage loan servicing institution acceptable to the Rating
        Agencies and having a net worth of not less than $15,000,000 as the successor
        to
        the Servicer under this Agreement in the assumption of all or any part of
        the
        responsibilities, duties or liabilities of the Servicer under this Agreement.
        No
        appointment of a successor Servicer under this Agreement shall be effective
        until the assumption by the successor of all of the Servicer’s responsibilities,
        duties and liabilities hereunder. In connection with such appointment and
        assumption described herein, the Trust Administrator or the Trustee, as
        applicable, may make such arrangements for the compensation of such successor
        out of payments on Mortgage Loans as it and such successor shall agree;
        provided, however, that no such compensation shall be in excess of that
        permitted the Servicer as such hereunder. The Depositor, the Trust
        Administrator, the Trustee and such successor shall take such action, consistent
        with this Agreement, as shall be necessary to effectuate any such succession.
        Pending appointment of a successor to the Servicer under this Agreement,
        the
        Trust Administrator or the Trustee, as applicable, shall act in such capacity
        as
        hereinabove provided.

       

      (b)  In
        connection with the termination or resignation of the Servicer hereunder,
        either
        (i) the successor servicer, including the Trust Administrator or the Trustee,
        as
        applicable, if the Trust Administrator or the Trustee, as applicable, is
        acting
        as successor Servicer, shall represent and warrant that it is a member of
        MERS
        in good standing and shall agree to comply in all material respects with
        the
        rules and procedures of MERS in connection with the servicing of the Mortgage
        Loans that are registered with MERS, in which case the predecessor Servicer
        shall cooperate with the successor Servicer in causing MERS to revise its
        records to reflect the transfer of servicing to the successor Servicer as
        necessary under MERS’ rules and regulations, or (ii) the predecessor Servicer
        shall cooperate with the successor Servicer in causing MERS to execute and
        deliver an assignment of Mortgage in recordable form to transfer the Mortgage
        from MERS to the Trust Administrator or the Trustee, as applicable, and to
        execute and deliver such other notices, documents and other instruments as
        may
        be necessary or desirable to effect a transfer of such Mortgage Loan or
        servicing of such Mortgage Loan on the MERS® System to the successor Servicer.
        The predecessor Servicer shall file or cause to be filed any such assignment
        in
        the appropriate recording office. The predecessor Servicer shall bear any
        and
        all fees of MERS, costs of preparing any assignments of Mortgage, and fees
        and
        costs of filing any assignments of Mortgage that may be required under this
        Section 7.02(b).

       

      
        	
              	SECTION
                7.03	
                Notification
                  to Certificateholders.

              

      

       

      (a)  Upon
        any
        termination of a Servicer pursuant to Section 7.01 above or any appointment
        of a
        successor to a Servicer pursuant to Section 7.02 above, the Trust
        Administrator shall
        give prompt written notice thereof to Certificateholders at their respective
        addresses appearing in the Certificate Register.

       

      (b)  Not
        later
        than the later of 60 days after the occurrence of any event, which constitutes
        or which, with notice or lapse of time or both, would constitute a Servicer
        Event of Default or five days after a Responsible Officer of the Trust
        Administrator becomes aware of the occurrence of such an event, the Trust
        Administrator shall transmit by mail to all Holders of Certificates notice
        of
        each such occurrence, unless such default or Servicer Event of Default shall
        have been cured or waived.

       

      
        	
              	SECTION
                7.04	
                Waiver
                  of Servicer Events of Default.

              

      

       

      Subject
        to Section 11.09(d), the Holders representing at least 66% of the Voting
        Rights
        evidenced by all Classes of Certificates affected by any default or Servicer
        Event of Default hereunder may waive such default or Servicer Event of Default;
        provided, however, that a default or Servicer Event of Default under clause
        (i)
        or (vi) of Section 7.01 may be waived only by all of the Holders of the Regular
        Certificates. Upon any such waiver of a default or Servicer Event of Default,
        such default or Servicer Event of Default shall cease to exist and shall
        be
        deemed to have been remedied for every purpose hereunder. No such waiver
        shall
        extend to any subsequent or other default or Servicer Event of Default or
        impair
        any right consequent thereon except to the extent expressly so
        waived.

       

      ARTICLE
        VIII

       

      CONCERNING
        THE TRUSTEE AND THE TRUST ADMINISTRATOR

       

      
        	
              	SECTION
                8.01	
                Duties
                  of Trustee and Trust Administrator.

              

      

       

      Each
        of
        the Trustee and the Trust Administrator, prior to the occurrence of a Servicer
        Event of Default and after the curing of all Servicer Events of Default which
        may have occurred, undertakes to perform such duties and only such duties
        as are
        specifically set forth in this Agreement. During a Servicer Event of Default,
        each of the Trustee and the Trust Administrator shall exercise such of the
        rights and powers vested in it by this Agreement, and use the same degree
        of
        care and skill in their exercise as a prudent person would exercise or use
        under
        the circumstances in the conduct of such person’s own affairs. Any permissive
        right of the Trustee or the Trust Administrator enumerated in this Agreement
        shall not be construed as a duty.

       

      Each
        of
        the Trustee and the Trust Administrator, upon receipt of all resolutions,
        certificates, statements, opinions, reports, documents, orders or other
        instruments furnished to it, which are specifically required to be furnished
        pursuant to any provision of this Agreement, shall examine them to determine
        whether they conform to the requirements of this Agreement; provided, however,
        that neither the Trustee nor the Trust Administrator will be responsible
        for the
        accuracy or content of any such resolutions, certificates, statements, opinions,
        reports, documents or other instruments. If any such instrument is found
        not to
        conform to the requirements of this Agreement in a material manner, it shall
        take such action as it deems appropriate to have the instrument corrected,
        and
        if the instrument is not corrected to its satisfaction, it will provide notice
        thereof to the Certificateholders.

       

      No
        provision of this Agreement shall be construed to relieve the Trustee or
        the
        Trust Administrator from liability for its own negligent action, its own
        negligent failure to act or its own misconduct; provided, however,
        that:

       

      (i)  Prior
        to
        the occurrence of a Servicer Event of Default, and after the curing of all
        such
        Servicer Events of Default which may have occurred, the duties and obligations
        of each of the Trustee and the Trust Administrator shall be determined solely
        by
        the express provisions of this Agreement, neither the Trustee nor the Trust
        Administrator shall be liable except for the performance of such duties and
        obligations as are specifically set forth in this Agreement, no implied
        covenants or obligations shall be read into this Agreement against the Trustee
        or the Trust Administrator and, in the absence of bad faith on the part of
        the
        Trustee or the Trust Administrator, as applicable, the Trustee or the Trust
        Administrator, as the case may be, may conclusively rely, as to the truth
        of the
        statements and the correctness of the opinions expressed therein, upon any
        certificates or opinions furnished to the Trustee or the Trust Administrator,
        as
        the case may be, that conform to the requirements of this
        Agreement;

       

      (ii)  Neither
        the Trustee nor the Trust Administrator shall be personally liable for any
        error
        of judgment made in good faith by a Responsible Officer or Responsible Officers
        of it unless it shall be proved that it was negligent in ascertaining the
        pertinent facts; 

       

      (iii)  Neither
        the Trustee nor the Trust Administrator shall be personally liable with respect
        to any action taken, suffered or omitted to be taken by it in good faith
        in
        accordance with the direction of the Holders of Certificates entitled to
        at
        least 25% of the Voting Rights relating to the time, method and place of
        conducting any proceeding for any remedy available to the it or exercising
        any
        trust or power conferred upon it, under this Agreement; and

       

      (iv)  Neither
        the Trustee nor the Trust Administrator shall be required to take notice
        or be
        deemed to have notice or knowledge of any default unless a Responsible Officer
        of the Trustee or the Trust Administrator, as the case may be, shall have
        received written notice thereof or a Responsible Officer shall have actual
        knowledge thereof. In the absence of receipt of such notice or actual knowledge,
        the Trustee or Trust Administrator, as applicable, may conclusively assume
        there
        is no default.

       

      Neither
        the Trustee nor the Trust Administrator shall be required to expend or risk
        its
        own funds or otherwise incur financial liability in the performance of any
        of
        its duties hereunder, or in the exercise of any of its rights or powers,
        in each
        case not including expenses, disbursements and advances incurred or made
        by the
        Trustee or the Trust Administrator, as applicable, including the compensation
        and the expenses and disbursements of its agents and counsel, in the ordinary
        course of the Trustee’s or the Trust Administrator’s, as the case may be,
        performance in accordance with the provisions of this Agreement, if there
        is
        reasonable ground for believing that the repayment of such funds or adequate
        indemnity against such risk or liability is not reasonably assured to it.
        With
        respect to the Trustee and the Trust Administrator, none of the provisions
        contained in this Agreement shall in any event require the Trustee or the
        Trust
        Administrator, as the case may be, to perform, or be responsible for the
        manner
        of performance of, any of the obligations of the Servicer under this Agreement,
        except during such time, if any, as the Trustee or the Trust Administrator,
        as
        applicable, shall be the successor to, and be vested with the rights, duties,
        powers and privileges of, the Servicer in accordance with the terms of this
        Agreement.

       

      
        	
              	SECTION
                8.02	
                Certain
                  Matters Affecting the Trustee and the Trust
                  Administrator.

              

      

       

      (a)  Except
        as
        otherwise provided in Section 8.01:

       

      (i)  Each
        of
        the Trustee and the Trust Administrator and any director, officer, employee
        or
        agent of the Trustee or the Trust Administrator, as the case may be, may
        request
        and conclusively rely upon and shall be fully protected in acting or refraining
        from acting upon any resolution, Officers’ Certificate, certificate of auditors
        or any other certificate, statement, instrument, opinion, report, notice,
        request, consent, order, appraisal, bond or other paper or document reasonably
        believed by it to be genuine and to have been signed or presented by the
        proper
        party or parties;

       

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

       

      (iii)  Neither
        the Trustee nor the Trust Administrator shall be under any obligation to
        exercise any of the trusts or powers vested in it by this Agreement or to
        institute, conduct or defend any litigation hereunder or in relation hereto
        at
        the request, order or direction of any of the Certificateholders, pursuant
        to
        the provisions of this Agreement, unless such Certificateholders shall have
        offered to the Trustee or the Trust Administrator, as applicable, security
        or
        indemnity satisfactory to it against the costs, expenses and liabilities
        which
        may be incurred therein or thereby; the right of the Trustee or the Trust
        Administrator to perform any discretionary act enumerated in this Agreement
        shall not be construed as a duty, and neither the Trustee nor the Trust
        Administrator shall be answerable for other than its negligence or willful
        misconduct in the performance of any such act; nothing contained herein shall,
        however, relieve the Trust Administrator or the Trustee of the obligation,
        upon
        the occurrence of a Servicer Event of Default (which has not been cured or
        waived), to exercise such of the rights and powers vested in it by this
        Agreement, and to use the same degree of care and skill in their exercise
        as a
        prudent person would exercise or use under the circumstances in the conduct
        of
        such person’s own affairs;

       

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

       

      (v)  Prior
        to
        the occurrence of a Servicer Event of Default hereunder, and after the curing
        of
        all Servicer Events of Default which may have occurred, neither the Trustee
        nor
        the Trust Administrator shall be bound to make any investigation into the
        facts
        or matters stated in any resolution, certificate, statement, instrument,
        opinion, report, notice, request, consent, order, approval, bond or other
        paper
        or document, unless requested in writing to do so by the Holders of Certificates
        entitled to at least 25% of the Voting Rights; provided, however, that if
        the
        payment within a reasonable time to the Trustee or the Trust Administrator,
        as
        applicable, of the costs, expenses or liabilities likely to be incurred by
        it in
        the making of such investigation is, in the opinion of the Trustee or the
        Trust
        Administrator, as applicable, not reasonably assured to the Trustee or the
        Trust
        Administrator, as applicable, by such Certificateholders, the Trustee or
        the
        Trust Administrator, as applicable, may require indemnity satisfactory to
        it
        against such cost, expense, or liability from such Certificateholders as
        a
        condition to taking any such action;

       

      (vi)  Each
        of
        the Trustee and the Trust Administrator may execute any of the trusts or
        powers
        hereunder or perform any duties hereunder either directly or by or through
        agents or attorneys and neither the Trustee nor the Trust Administrator shall
        be
        responsible for any misconduct or negligence on the part of any agent or
        attorney appointed with due care;

       

      (vii)  Neither
        the Trustee nor the Trust Administrator shall be personally liable for any
        loss
        resulting from the investment of funds held in the Collection Account at
        the
        direction of the Servicer pursuant to Section 3.12; and

       

      (viii)  Any
        request or direction of the Depositor, the Servicer or the Certificateholders
        mentioned herein shall be sufficiently evidenced in writing.

       

      (b)  All
        rights of action under this Agreement or under any of the Certificates,
        enforceable by the Trustee or the Trust Administrator, may be enforced by
        it
        without the possession of any of the Certificates, or the production thereof
        at
        the trial or other proceeding relating thereto, and any such suit, action
        or
        proceeding instituted by the Trustee or the Trust Administrator shall be
        brought
        in its name for the benefit of all the Holders of such Certificates, subject
        to
        the provisions of this Agreement.

       

      
        	
              	SECTION
                8.03	
                Neither
                  the Trustee nor Trust Administrator Liable for Certificates or
                  Mortgage
                  Loans.

              

      

       

      The
        recitals contained herein and in the Certificates (other than the signature
        of
        the Trust Administrator, on behalf of the Trustee, the authentication of
        the
        Trust Administrator on the Certificates, the acknowledgments of the Trustee
        and
        the Trust Administrator contained in Article II and the representations and
        warranties of the Trustee and the Trust Administrator in Section 8.12) shall
        be
        taken as the statements of the Depositor and neither the Trustee nor the
        Trust
        Administrator assumes any responsibility for their correctness. Neither the
        Trustee nor the Trust Administrator makes any representations or warranties
        as
        to the validity or sufficiency of this Agreement (other than as specifically
        set
        forth in Section 8.12) or of the Certificates (other than the signature of
        the
        Trust Administrator and authentication of the Trust Administrator on the
        Certificates) or of any Mortgage Loan or related document or of MERS or the
        MERS
        System. Neither the Trustee nor the Trust Administrator shall be accountable
        for
        the use or application by the Depositor of any of the Certificates or of
        the
        proceeds of such Certificates, or for the use or application of any funds
        paid
        to the Depositor or the Servicer in respect of the Mortgage Loans or deposited
        in or withdrawn from the Collection Account by the Servicer. 

       

      
        	
              	SECTION
                8.04	
                Trustee
                  and Trust Administrator May Own
                  Certificates.

              

      

       

      Each
        of
        the Trustee and the Trust Administrator in its individual capacity or any
        other
        capacity may become the owner or pledgee of Certificates with the same rights
        it
        would have if it were not the Trustee or the Trust Administrator, as
        applicable.

       

      
        	
              	SECTION
                8.05	
                Trustee’s,
                  Trust Administrator’s and Custodian’s Fees and
                  Expenses.

              

      

       

      (a)  The
        Trust
        Administrator shall withdraw from the Distribution Account on each Distribution
        Date and pay to itself any income and gain realized from the investment of
        funds
        deposited in the Distribution Account. The Trustee’s fees will be paid by the
        Trust Administrator pursuant to a separate agreement between the Trustee
        and the
        Trust Administrator, and such compensation will not be an expense of the
        Trust.
        Each of the Trustee, the Trust Administrator, the Custodian and any director,
        officer, employee or agent of any of them, as applicable, shall be indemnified
        by the Trust Fund and held harmless against any loss, liability or expense
        (not
        including expenses, disbursements and advances incurred or made by the Trustee,
        the Trust Administrator or the Custodian, as applicable, including the
        compensation and the expenses and disbursements of its agents and counsel,
        in
        the ordinary course of the Trustee’s, the Trust Administrator’s or the
        Custodian’s, as the case may be, performance in accordance with the provisions
        of this Agreement) incurred by the Trustee, the Trust Administrator or the
        Custodian, as applicable, in connection with any claim or legal action or
        any
        pending or threatened claim or legal action arising out of or in connection
        with
        the acceptance or administration of its obligations and duties under this
        Agreement (or, in the case of the Custodian, under the Custodial Agreement),
        other than any loss, liability or expense (i) resulting from any breach of
        the
        Servicer’s obligations in connection with this Agreement for which the Servicer
        shall indemnify the Trustee and the Trust Administrator pursuant to Section
        8.05(b) and Section 10.03 (and in the case of the Trustee, resulting from
        any
        breach of the Trust Administrator’s obligations in connection with this
        Agreement for which the Trust Administrator shall indemnify the Trustee pursuant
        to Section 10.03(a) and in the case of the Trust Administrator, resulting
        from
        any breach of the Trustee’s obligations in connection with this Agreement for
        which the Trustee shall indemnify the Trust Administrator pursuant to Section
        10.03(c)), (ii) that constitutes a specific liability of the Trustee or the
        Trust Administrator, as applicable, pursuant to Section 10.01(g) or (iii)
        any
        loss, liability or expense incurred by reason of willful misfeasance, bad
        faith
        or negligence in the performance of duties hereunder or by reason of reckless
        disregard of obligations and duties hereunder (or, in the case of the Custodian,
        under the Custodial Agreement) or as a result of a breach of the Trustee’s or
        the Trust Administrator’s obligations under Article X hereof (or, in the case of
        the Custodian, as a result of a breach of the Custodian’s obligations under the
        Custodial Agreement). Any amounts payable to the Trustee, the Trust
        Administrator, the Custodian, or any director, officer, employee or agent
        of any
        of them in respect of the indemnification provided by this paragraph (a),
        or
        pursuant to any other right of reimbursement from the Trust Fund that the
        Trustee, the Trust Administrator, the Custodian or any director, officer,
        employee or agent of any of them may have hereunder in its capacity as such,
        may
        be withdrawn by the Trust Administrator for payment to the applicable
        indemnified Person from the Distribution Account at any time.

       

      (b)  The
        Servicer agrees to indemnify the Trustee, the Trust Administrator and the
        Custodian from, and hold each harmless against, any loss, liability or expense
        resulting from a breach of the Servicer’s obligations and duties under this
        Agreement. Such indemnity shall survive the termination or discharge of this
        Agreement and the resignation or removal of the Trustee, the Trust Administrator
        or the Custodian, as the case may be. Any payment hereunder made by the Servicer
        to the Trustee, the Trust Administrator or the Custodian shall be from the
        Servicer’s own funds, without reimbursement from the Trust Fund
        therefor.

       

      
        	
              	SECTION
                8.06	
                Eligibility
                  Requirements for Trustee and Trust
                  Administrator.

              

      

       

      Each
        of
        the Trustee and the Trust Administrator hereunder shall at all times be a
        corporation or an association organized and doing business under the laws
        of any
        state or the United States of America, authorized under such laws to exercise
        corporate trust powers, having a combined capital and surplus of at least
        $50,000,000 and subject to supervision or examination by federal or state
        authority. In case at any time the Trustee or the Trust Administrator shall
        cease to be eligible in accordance with the provisions of this Section, the
        Trustee or the Trust Administrator, as the case may be, shall resign immediately
        in the manner and with the effect specified in Section 8.07.

       

      
        	
              	SECTION
                8.07	
                Resignation
                  and Removal of the Trustee and the Trust
                  Administrator.

              

      

       

      Either
        of
        the Trustee or the Trust Administrator may at any time resign and be discharged
        from the trust hereby created by giving written notice thereof to the Depositor,
        the Servicer and the Certificateholders and, if the Trustee is resigning,
        to the
        Trust Administrator, or, if the Trust Administrator is resigning, to the
        Trustee. Upon receiving such notice of resignation, the Depositor shall promptly
        appoint a successor trustee or trust administrator (which may be the same
        Person
        in the event both the Trustee and the Trust Administrator resign or are removed)
        by written instrument, in duplicate, which instrument shall be delivered
        to the
        resigning Trustee or Trust Administrator and to the successor trustee or
        trust
        administrator, as applicable. A copy of such instrument shall be delivered
        to
        the Certificateholders, the Trustee or Trust Administrator, as applicable,
        and
        the Servicer by the Depositor. If no successor trustee or trust administrator
        shall have been so appointed and have accepted appointment within 30 days
        after
        the giving of such notice of resignation, the resigning Trustee or Trust
        Administrator, as applicable, may petition any court of competent jurisdiction
        for the appointment of a successor trustee or trust administrator, as
        applicable.

       

      If
        at any
        time the Trustee or the Trust Administrator shall cease to be eligible in
        accordance with the provisions of Section 8.06 and shall fail to resign after
        written request therefor by the Depositor (or in the case of the Trust
        Administrator, the Trustee), or if at any time the Trustee or the Trust
        Administrator shall become incapable of acting, or shall be adjudged bankrupt
        or
        insolvent, or a receiver of the Trustee or the Trust Administrator or of
        its
        property shall be appointed, or any public officer shall take charge or control
        of the Trustee or the Trust Administrator or of its property or affairs for
        the
        purpose of rehabilitation, conservation or liquidation, then the Depositor
        (or
        in the case of the Trust Administrator, the Trustee) may remove the Trustee
        or
        the Trust Administrator, as applicable, and appoint a successor trustee or
        trust
        administrator (which may be the same Person in the event both the Trustee
        and
        the Trust Administrator resign or are removed) by written instrument, in
        duplicate, which instrument shall be delivered to the Trustee or Trust
        Administrator so removed and to the successor trustee or trust administrator.
        A
        copy of such instrument shall be delivered to the Certificateholders, the
        Trustee or the Trust Administrator, as applicable, and the Servicer by the
        Depositor.

       

      The
        Holders of Certificates entitled to at least 51% of the Voting Rights may
        at any
        time remove the Trustee or the Trust Administrator and appoint a successor
        trustee or trust administrator by written instrument or instruments, in
        triplicate, signed by such Holders or their attorneys-in-fact duly authorized,
        one complete set of which instruments shall be delivered to the Depositor,
        one
        complete set to the Trustee or the Trust Administrator, as the case may be,
        so
        removed and one complete set to the successor so appointed. A copy of such
        instrument shall be delivered to the Certificateholders and the Servicer
        by the
        Depositor. 

       

      If
        no
        successor Trust Administrator shall have been appointed and shall have accepted
        appointment within 60 days after the Trust Administrator ceases to be the
        Trust
        Administrator pursuant to this Section 8.07, then the Trustee shall perform
        the
        duties of the Trust Administrator pursuant to this Agreement. The Trustee
        shall
        notify the Rating Agencies of any change of Trust Administrator.

       

      Any
        resignation or removal of the Trustee or the Trust Administrator and appointment
        of a successor trustee or trust administrator, as the case may be, pursuant
        to
        any of the provisions of this Section shall not become effective until
        acceptance of appointment by the successor trustee or trust administrator
        as
        provided in Section 8.08. Notwithstanding the foregoing, in the event the
        Trust
        Administrator advises the Trustee that it is unable to continue to perform
        its
        obligations pursuant to the terms of this Agreement prior to the appointment
        of
        a successor, the Trustee shall be obligated to perform such obligations until
        a
        new trust administrator is appointed. Such performance shall be without
        prejudice to any claim by a party hereto or beneficiary hereof resulting
        from
        the Trust Administrator’s breach of its obligations hereunder. As compensation
        therefor, the Trustee shall be entitled to all fees the Trust Administrator
        would have been entitled to if it had continued to act hereunder.

       

      
        	
              	SECTION
                8.08	
                Successor
                  Trustee or Trust Administrator.

              

      

       

      Any
        successor trustee or trust administrator appointed as provided in Section
        8.07
        shall execute, acknowledge and deliver to the Depositor, the Trustee or the
        Trust Administrator, as applicable, and to its predecessor trustee or trust
        administrator an instrument accepting such appointment hereunder, and thereupon
        the resignation or removal of the predecessor trustee or trust administrator
        shall become effective and such successor trustee or trust administrator,
        without any further act, deed or conveyance, shall become fully vested with
        all
        the rights, powers, duties and obligations of its predecessor hereunder,
        with
        the like effect as if originally named as trustee or trust administrator
        herein.
        The predecessor trustee or trust administrator shall deliver to the successor
        trustee or trust administrator all Mortgage Files and related documents and
        statements, as well as all moneys, held by it hereunder and the Depositor
        and
        the predecessor trustee or trust administrator shall execute and deliver
        such
        instruments and do such other things as may reasonably be required for more
        fully and certainly vesting and confirming in the successor trustee or trust
        administrator all such rights, powers, duties and obligations.

       

      No
        successor trustee or trust administrator shall accept appointment as provided
        in
        this Section unless at the time of such acceptance such successor trustee
        or
        trust administrator shall be eligible under the provisions of Section 8.06
        and
        the appointment of such successor trustee or trust administrator shall not
        result in a downgrading of any Class of Certificates by the Rating Agencies,
        as
        evidenced by a letter from the Rating Agencies.

       

      Upon
        acceptance of appointment by a successor trustee or trust administrator as
        provided in this Section, the Depositor shall mail notice of the succession
        of
        such trustee or trust administrator hereunder to all Holders of Certificates
        at
        their addresses as shown in the Certificate Register. If the Depositor fails
        to
        mail such notice within 10 days after acceptance of appointment by the successor
        trustee or trust administrator, the successor trustee or trust administrator
        shall cause such notice to be mailed at the expense of the
        Depositor.

       

      Any
        Person appointed as successor trustee pursuant to Section 8.08 shall also
        be
        required to serve as successor Cap Trustee under the Interest Rate Cap Agreement
        and the Cap Administration Agreement. 

       

      
        	
              	SECTION
                8.09	
                Merger
                  or Consolidation of Trustee or Trust
                  Administrator.

              

      

       

      Any
        corporation or association into which either the Trustee or the Trust
        Administrator may be merged or converted or with which it may be consolidated
        or
        any corporation or association resulting from any merger, conversion or
        consolidation to which the Trustee or the Trust Administrator, as the case
        may
        be, shall be a party, or any corporation or association succeeding to the
        business of the Trustee or the Trust Administrator, as applicable, shall
        be the
        successor of the Trustee or the Trust Administrator, as the case may be,
        hereunder, provided such corporation or association shall be eligible under
        the
        provisions of Section 8.06, without the execution or filing of any paper
        or any
        further act on the part of any of the parties hereto, anything herein to
        the
        contrary notwithstanding.

       

      
        	
              	SECTION
                8.10	
                Appointment
                  of Co-Trustee or Separate Trustee.

              

      

       

      Notwithstanding
        any other provisions hereof, at any time, for the purpose of meeting any
        legal
        requirements of any jurisdiction in which any part of REMIC I or property
        securing the same may at the time be located, the Servicer and the Trustee
        acting jointly shall have the power and shall execute and deliver all
        instruments to appoint one or more Persons approved by the Trustee to act
        as
        co-trustee or co-trustees, jointly with the Trustee, or separate trustee
        or
        separate trustees, of all or any part of REMIC I, and to vest in such Person
        or
        Persons, in such capacity, such title to REMIC I, or any part thereof, and,
        subject to the other provisions of this Section 8.10, such powers, duties,
        obligations, rights and trusts as the Servicer and the Trustee may consider
        necessary or desirable. If the Servicer shall not have joined in such
        appointment within 15 days after the receipt by it of a request to do so,
        or in
        case a Servicer Event of Default shall have occurred and be continuing, the
        Trustee alone shall have the power to make such appointment. No co-trustee
        or
        separate trustee hereunder shall be required to meet the terms of eligibility
        as
        a successor trustee under Section 8.06 hereunder and no notice to Holders
        of
        Certificates of the appointment of co-trustee(s) or separate trustee(s) shall
        be
        required under Section 8.08 hereof.

       

      In
        the
        case of any appointment of a co-trustee or separate trustee pursuant to this
        Section 8.10 all rights, powers, duties and obligations conferred or imposed
        upon the Trustee shall be conferred or imposed upon and exercised or performed
        by the Trustee and such separate trustee or co-trustee jointly, except to
        the
        extent that under any law of any jurisdiction in which any particular act
        or
        acts are to be performed by the Trustee (whether as Trustee hereunder or
        as
        successor to the Servicer hereunder), the Trustee shall be incompetent or
        unqualified to perform such act or acts, in which event such rights, powers,
        duties and obligations (including the holding of title to REMIC I or any
        portion
        thereof in any such jurisdiction) shall be exercised and performed by such
        separate trustee or co-trustee at the direction of the Trustee.

       

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

       

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

       

      
        	
              	SECTION
                8.11	
                [Reserved].

              

      

       

      
        	
              	SECTION
                8.12	
                Appointment
                  of Office or Agency.

              

      

       

      The
        Trust
        Administrator will appoint an office or agency in the City of New York where
        the
        Certificates may be surrendered for registration of transfer or exchange,
        and
        presented for final distribution, and where notices and demands to or upon
        the
        Trust Administrator in respect of the Certificates and this Agreement may
        be
        served.

       

      
        	
              	SECTION
                8.13	
                Representations
                  and Warranties.

              

      

       

      Each
        of
        the Trustee and the Trust Administrator hereby represents and warrants to
        the
        Servicer, the Depositor and the Trustee and the Trust Administrator, as
        applicable, as of the Closing Date, that:

       

      (i)  It
        is a
        national banking association duly organized, validly existing and in good
        standing under the laws of the United States of America.

       

      (ii)  The
        execution and delivery of this Agreement by it, and the performance and
        compliance with the terms of this Agreement by it, will not violate its articles
        of association or bylaws or constitute a default (or an event which, with
        notice
        or lapse of time, or both, would constitute a default) under, or result in
        the
        breach of, any material agreement or other instrument to which it is a party
        or
        which is applicable to it or any of its assets.

       

      (iii)  It
        has
        the full power and authority to enter into and consummate all transactions
        contemplated by this Agreement, has duly authorized the execution, delivery
        and
        performance of this Agreement, and has duly executed and delivered this
        Agreement.

       

      (iv)  This
        Agreement, assuming due authorization, execution and delivery by the other
        parties hereto, constitutes a valid, legal and binding obligation of it,
        enforceable against it in accordance with the terms hereof, subject to (A)
        applicable bankruptcy, insolvency, receivership, reorganization, moratorium
        and
        other laws affecting the enforcement of creditors’ rights generally, and (B)
        general principles of equity, regardless of whether such enforcement is
        considered in a proceeding in equity or at law.

       

      (v)  It
        is not
        in violation of, and its execution and delivery of this Agreement and its
        performance and compliance with the terms of this Agreement will not constitute
        a violation of, any law, any order or decree of any court or arbiter, or
        any
        order, regulation or demand of any federal, state or local governmental or
        regulatory authority, which violation, in its good faith and reasonable
        judgment, is likely to affect materially and adversely either the ability
        of the
        it to perform its obligations under this Agreement or the financial condition
        of
        it.

       

      (vi)  No
        litigation is pending or, to the best of its knowledge, threatened against
        it
        which would prohibit it from entering into this Agreement or, in its good
        faith
        reasonable judgment, is likely to materially and adversely affect either
        the
        ability of it to perform its obligations under this Agreement or the financial
        condition of it.

       

      
        	
              	SECTION
                8.14	
                [Reserved].

              

      

       

      
        	
              	SECTION
                8.15	
                No
                  Trustee or Trust Administrator Liability for Actions or Inactions
                  of
                  Custodian.

              

      

       

      Notwithstanding
        anything to the contrary herein, in no event shall the Trustee or the Trust
        Administrator be liable to any party hereto or to any third party for the
        performance of any custody-related functions with respect to which the Custodian
        shall fail to take action on behalf of the Trustee or Trust Administrator,
        as
        the case may be, or, with respect to which the performance of custody-related
        functions pursuant to the terms of the custodial agreement with the Custodian
        shall fail to satisfy all the related requirements under this
        Agreement.

       

      ARTICLE
        IX

       

      TERMINATION

       

      
        	
              	SECTION
                9.01	
                Termination
                  Upon Repurchase or Liquidation of the Mortgage
                  Loans.

              

      

       

      (a)  Subject
        to Section 9.02, the respective obligations and responsibilities under this
        Agreement of the Depositor, the Servicer, the Trustee and the Trust
        Administrator with respect to the Mortgage Loans (other than the obligations
        of
        the Servicer to the Trustee and the Trust Administrator pursuant to Section
        8.05
        and of the Servicer to provide for and the Trust Administrator to make payments
        in respect of the REMIC I Regular Interests and the Classes of Certificates
        as
        hereinafter set forth) shall terminate upon payment to the Certificateholders
        and the deposit of all amounts held by or on behalf of the Trustee or the
        Trust
        Administrator and required hereunder to be so paid or deposited on the
        Distribution Date coinciding with or following the earlier to occur of (i)
        the
        purchase by the Terminator (on a servicing retained basis) of all Mortgage
        Loans
        and each related REO Property remaining in REMIC I and (ii) the final payment
        or
        other liquidation (or any advance with respect thereto) of the last Mortgage
        Loan or related REO Property remaining in REMIC I; provided, however, that
        in no
        event shall the trust created hereby continue beyond the earlier of (a) the
        expiration of 21 years from the death of the last survivor of the descendants
        of
        Joseph P. Kennedy, the late ambassador of the United States to the Court
        of St.
        James, living on the date hereof and (b) the Latest Possible Maturity Date
        (as
        defined in the Preliminary Statement). 

       

      Subject
        to Section 3.10 hereof, the purchase by the Terminator of all Mortgage Loans
        and
        each REO Property remaining in REMIC I shall be at a price equal to the greater
        of (i) the Stated Principal Balance of the Mortgage Loans and the appraised
        value of any REO Properties (such appraisal to be conducted by an appraiser
        mutually agreed upon by the Servicer and the Trust Administrator) and (ii)
        the
        fair market value of the Mortgage Loans and the REO Properties (as determined
        by
        the Servicer, with the consent of the Trust Administrator as of the close
        of
        business on the third Business Day next preceding the date upon which notice
        of
        any such termination is furnished to the related Certificateholders pursuant
        to
        Section 9.01(c)), in each case plus accrued and unpaid interest thereon at
        the
        weighted average of the Mortgage Rates through the end of the Due Period
        preceding the final Distribution Date plus unreimbursed Servicing Advances
        allocable to such Mortgage Loans and REO Properties and any accrued and unpaid
        Net WAC Rate Carryover Amounts (the “Termination
        Price”);
        provided, however, such option may only be exercised if the Termination Price
        is
        sufficient to result in the payment of all interest accrued on, as well as
        amounts necessary to retire the principal balance of, each class of notes
        issued
        pursuant to the Indenture. 

       

      (b)  The
        Servicer shall have the right (the party exercising such right, the
“Terminator”),
        to
        purchase all of the Mortgage Loans and each REO Property remaining in REMIC
        I
        pursuant to clause (i) of the preceding paragraph no later than the
        Determination Date in the month immediately preceding the Distribution Date
        on
        which the Certificates will be retired; provided, however, that the Terminator
        may elect to purchase all of the Mortgage Loans and each REO Property remaining
        in REMIC I pursuant to clause (i) above only if the aggregate Stated Principal
        Balance of the Mortgage Loans and each REO Property remaining in the Trust
        Fund
        at the time of such election is reduced to less than 10% of the aggregate
        Stated
        Principal Balance of the Mortgage Loans as of the Cut-off Date. By acceptance
        of
        a Residual Certificate, the Holders of the Residual Certificates agree, in
        connection with any termination hereunder, to assign and transfer any amounts
        in
        excess of par, and to the extent received in respect of such termination,
        to pay
        any such amounts to the Holders of the Class CE Certificates.

       

      (c)  Notice
        of
        the liquidation of any Certificates shall be given promptly by the Trust
        Administrator by letter to the related Certificateholders mailed (a) in the
        event such notice is given in connection with the purchase of the Mortgage
        Loans
        and each related REO Property remaining in REMIC I by the Terminator, not
        earlier than the 15th day and not later than the 25th day of the month next
        preceding the month of the final distribution on the related Certificates
        or (b)
        otherwise during the month of such final distribution on or before the
        Determination Date in such month, in each case specifying (i) the Distribution
        Date upon which REMIC I will terminate and final payment of the Certificates
        and
        will be made upon presentation and surrender of the Certificates at the office
        of the Trust Administrator therein designated, (ii) the amount of any such
        final
        payment, (iii) that no interest shall accrue in respect of the Certificates
        from
        and after the Interest Accrual Period relating to the final Distribution
        Date
        therefor and (iv) that the Record Date otherwise applicable to such Distribution
        Date is not applicable, payments being made only upon presentation and surrender
        of the Certificates at the office of the Trust Administrator. In the event
        such
        notice is given in connection with the purchase of all of the Mortgage Loans
        and
        each REO Property remaining in REMIC I by the Terminator, the Terminator
        shall
        deliver to the Trust Administrator for deposit in the Distribution Account
        not
        later than the last Business Day of the month next preceding the month in
        which
        such distribution will be made an amount in immediately available funds equal
        to
        the Termination Price. Upon certification to the Trust Administrator and
        the
        Trustee by a Servicing Officer of the making of such final deposit, the Trust
        Administrator shall promptly release or cause to be released to the related
        Terminator the Mortgage Files for the remaining Mortgage Loans and the Trustee
        shall execute all assignments, endorsements and other instruments delivered
        to
        it which are necessary to effectuate such transfer.

       

      (d)  Upon
        receipt of notice by the Trust Administrator of the presentation of the
        Certificates by the Certificateholders on the related final Distribution
        Date to
        the Trust Administrator, the Trust Administrator shall distribute to each
        Certificateholder so presenting and surrendering its Certificates the amount
        otherwise distributable on such Distribution Date in accordance with Section
        4.01 in respect of the Certificates so presented and surrendered. Any funds
        not
        distributed to any Holder or Holders of Certificates being retired on such
        Distribution Date because of the failure of such Holder or Holders to tender
        their Certificates shall, on such date, be set aside and held in trust by
        the
        Trust Administrator and credited to the account of the appropriate non-tendering
        Holder or Holders. If any Certificates as to which notice has been given
        pursuant to this Section 9.01 shall not have been surrendered for cancellation
        within six months after the time specified in such notice, the Trust
        Administrator shall mail a second notice to the remaining non-tendering
        Certificateholders to surrender their Certificates for cancellation in order
        to
        receive the final distribution with respect thereto. If within one year after
        the second notice all such Certificates shall not have been surrendered for
        cancellation, the Trust Administrator shall, directly or through an agent,
        mail
        a final notice to remaining related non-tendering Certificateholders concerning
        surrender of their Certificates. The costs and expenses of maintaining the
        funds
        in trust and of contacting such Certificateholders shall be paid out of the
        assets remaining in the trust funds. If within one year after the final notice
        any such Certificates shall not have been surrendered for cancellation, the
        Trust Administrator shall pay to Citigroup Global Markets Inc. all such amounts,
        and all rights of non-tendering Certificateholders in or to such amounts
        shall
        thereupon cease. No interest shall accrue or be payable to any Certificateholder
        on any amount held in trust by the Trust Administrator as a result of such
        Certificateholder’s failure to surrender its Certificate(s) for final payment
        thereof in accordance with this Section 9.01.

       

      Immediately
        following the deposit of funds in trust hereunder in respect of each of the
        Certificates the Trust Fund shall terminate. 

       

      
        	
              	SECTION
                9.02	
                Additional
                  Termination Requirements.

              

      

       

      (a)  In
        the
        event that the Terminator purchases all the Mortgage Loans and each REO
        Property, REMIC I shall be terminated, in each case in accordance with the
        following additional requirements (or in connection with the final payment
        on or
        other liquidation of the last Mortgage Loan or REO Property remaining in
        REMIC
        I, the additional requirement specified in clause (i) below):

       

      (i)  The
        Trust
        Administrator shall specify the first day in the 90-day liquidation period
        in a
        statement attached to REMIC I’s final Tax Return pursuant to Treasury regulation
        Section 1.860F-1, and such termination shall satisfy all requirements of
        a
        qualified liquidation under Section 860F of the Code and any regulations
        thereunder, as evidenced by an Opinion of Counsel obtained at the expense
        of the
        Servicer;

       

      (ii)  During
        such 90-day liquidation period, and at or prior to the time of making of
        the
        final payment on the Certificates, the Trust Administrator shall sell all
        of the
        assets of REMIC I to the Terminator for cash; and

       

      (iii)  At
        the
        time of the making of the final payment on the related Certificates, the
        Trust
        Administrator shall distribute or credit, or cause to be distributed or
        credited, to the Holders of the Class R Certificates all cash on hand in
        REMIC I
        (other than cash retained to meet claims), and REMIC I shall terminate at
        that
        time.

       

      (b)  At
        the
        expense of the Terminator (or in the event of termination under Section
        9.01(a)(ii), at the expense of the Servicer), the Terminator shall prepare
        or
        cause to be prepared the documentation required in connection with the adoption
        of a plan of liquidation of REMIC I pursuant to this Section 9.02.

       

      (c)  By
        their
        acceptance of Certificates, the Holders thereof hereby agree to authorize
        the
        Trust Administrator to specify the 90-day liquidation period for REMIC I
        which
        authorization shall be binding upon all successor
        Certificateholders.

       

      ARTICLE
        X

       

      REMIC
        PROVISIONS

       

      
        	
              	SECTION
                10.01	
                REMIC
                  Administration.

              

      

       

      (a)  The
        Trust
        Administrator shall elect to treat each REMIC created hereunder as a REMIC
        under
        the Code and, if necessary, under applicable state law. Such election will
        be
        made by the Trust Administrator on behalf of the Trustee on Form 1066 or
        other
        appropriate federal tax or information return or any appropriate state return
        for the taxable year ending on the last day of the calendar year in which
        the
        Certificates are issued. For the purposes of the REMIC election in respect
        of
        REMIC I, the REMIC I Regular Interests shall be designated as the Regular
        Interests in REMIC I and the Class R-I Interest shall be designated as the
        Residual Interest in REMIC I. The Floating Rate Certificates, the Class CE
        Interest and the Class P Interest shall be designated as the Regular Interests
        in REMIC II and the Class R-II Interest shall be designated as the Residual
        Interest in REMIC II. The Class CE Certificates shall be designated as the
        Regular Interests in REMIC III and the Class R-III Interest shall be designated
        as the Residual Interest in REMIC III. The Class P Certificates shall be
        designated as the Regular Interests in REMIC IV and the Class R-IV Interest
        shall be designated as the Residual Interest in REMIC IV. Neither the Trustee
        nor the Trust Administrator shall permit the creation of any “interests” in any
        Trust REMIC (within the meaning of Section 860G of the Code) other than the
        REMIC Regular Interests and the interests represented by the
        Certificates.

       

      (b)  The
        Closing Date is hereby designated as the “Startup Day” of each Trust REMIC
        created hereunder within the meaning of Section 860G(a)(9) of the
        Code.

       

      (c)  The
        Trust
        Administrator shall pay any and all expenses relating to any tax audit of
        the
        Trust Fund (including, but not limited to, any professional fees or any
        administrative or judicial proceedings with respect to any Trust REMIC that
        involve the Internal Revenue Service or state tax authorities), and shall
        be
        entitled to reimbursement from the Trust therefor to the extent permitted
        under
        Section 8.05. The Trust Administrator, as agent for any Trust REMIC’s tax
        matters person, shall (i) act on behalf of the Trust Fund in relation to
        any tax
        matter or controversy involving any Trust REMIC and (ii) represent the Trust
        Fund in any administrative or judicial proceeding relating to an examination
        or
        audit by any governmental taxing authority with respect thereto. The holder
        of
        the largest Percentage Interest of the Residual Certificates shall be
        designated, in the manner provided under Treasury regulations section
        1.860F-4(d) and Treasury regulations section 301.6231(a)(7)-1, as the tax
        matters person of the related REMIC created hereunder. By its acceptance
        thereof, the holder of the largest Percentage Interest of the Residual
        Certificates hereby agrees to irrevocably appoint the Trust Administrator
        or an
        Affiliate as its agent to perform all of the duties of the tax matters person
        for the Trust Fund.

       

      (d)  The
        Trust
        Administrator shall prepare and the Trustee at the direction of the Trust
        Administrator shall sign and the Trust Administrator shall file all of the
        Tax
        Returns in respect of the REMIC created hereunder. The expenses of preparing
        and
        filing such returns shall be borne by the Trust Administrator without any
        right
        of reimbursement therefor. The Servicer shall provide on a timely basis to
        the
        Trust Administrator or its designee such information with respect to the
        assets
        of the Trust Fund as is in its possession and reasonably required by the
        Trust
        Administrator to enable it to perform its obligations under this
        Article.

       

      (e)  The
        Trust
        Administrator shall perform on behalf of any Trust REMIC all reporting and
        other
        tax compliance duties that are the responsibility of the REMIC under the
        Code,
        the REMIC Provisions or other compliance guidance issued by the Internal
        Revenue
        Service or any state or local taxing authority including the filing of Form
        8811
        with the Internal Revenue Service within 30 days following the Closing Date.
        Among its other duties, as required by the Code, the REMIC Provisions or
        other
        such compliance guidance, the Trust Administrator shall provide (i) to any
        Transferor of a Residual Certificate such information as is necessary for
        the
        application of any tax relating to the transfer of a Residual Certificate
        to any
        Person who is not a Permitted Transferee, (ii) to the Certificateholders
        such
        information or reports as are required by the Code or the REMIC Provisions
        including reports relating to interest, original issue discount and market
        discount or premium (using the Prepayment Assumption as required) and (iii)
        to
        the Internal Revenue Service the name, title, address and telephone number
        of
        the person who will serve as the representative of any Trust REMIC. The Servicer
        shall provide on a timely basis to the Trust Administrator such information
        with
        respect to the assets of the Trust Fund, including, without limitation, the
        Mortgage Loans, as is in its possession and reasonably required by the Trust
        Administrator to enable it to perform its obligations under this subsection.
        In
        addition, the Depositor shall provide or cause to be provided to the Trust
        Administrator, within ten (10) days after the Closing Date, all information
        or
        data that the Trust Administrator reasonably determines to be relevant for
        tax
        purposes as to the valuations and issue prices of the Certificates, including,
        without limitation, the price, yield, Prepayment Assumption and projected
        cash
        flow of the Certificates.

       

      (f)  The
        Trustee, the Trust Administrator, the Servicer and the Holders of Certificates
        shall take such action or cause the Trust REMIC to take such action as shall
        be
        necessary to create or maintain the status thereof as a REMIC under the REMIC
        Provisions. The Trustee, the Trust Administrator and the Servicer shall not
        take
        any action or cause the Trust Fund to take any action or fail to take (or
        fail
        to cause to be taken) any action that, under the REMIC Provisions, if taken
        or
        not taken, as the case may be, could (i) endanger the status of each Trust
        REMIC
        as a REMIC or (ii) result in the imposition of a tax upon the Trust Fund
        (including but not limited to the tax on prohibited transactions as defined
        in
        Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set
        forth
        in Section 860G(d) of the Code) (either such event, an “Adverse REMIC Event”)
        unless the Trustee has received an Opinion of Counsel, addressed to the Trustee
        and the Trust Administrator (at the expense of the party seeking to take
        such
        action but in no event at the expense of the Trustee or the Trust Administrator)
        to the effect that the contemplated action will not, with respect to any
        Trust
        REMIC, endanger such status or result in the imposition of such a tax, nor
        shall
        the Servicer take or fail to take any action (whether or not authorized
        hereunder) as to which the Trustee or the Trust Administrator has advised
        it in
        writing that it has received an Opinion of Counsel to the effect that an
        Adverse
        REMIC Event could occur with respect to such action; provided that the Servicer
        may conclusively rely on such Opinion of Counsel and shall incur no liability
        for its action or failure to act in accordance with such Opinion of Counsel.
        In
        addition, prior to taking any action with respect to any Trust REMIC or the
        respective assets of each, or causing any Trust REMIC to take any action,
        which
        is not contemplated under the terms of this Agreement, the Servicer consult
        with
        the Trustee and the Trust Administrator or their designee, in writing, with
        respect to whether such action could cause an Adverse REMIC Event to occur
        with
        respect to any Trust REMIC and the Servicer shall not take any such action
        or
        cause any Trust REMIC to take any such action as to which the Trustee or
        the
        Trust Administrator has advised it in writing that an Adverse REMIC Event
        could
        occur; provided that the Servicer may conclusively rely on such writing and
        shall incur no liability for its action or failure to act in accordance with
        such writing. The Trust Administrator and the Trustee may consult with counsel
        to make such written advice, and the cost of same shall be borne by the party
        seeking to take the action not permitted by this Agreement, but in no event
        shall such cost be an expense of the Trustee or the Trust Administrator.
        At all
        times as may be required by the Code, the Trustee, the Trust Administrator
        and
        the Servicer will ensure that substantially all of the assets of REMIC I
        will
        consist of “qualified mortgages” as defined in Section 860G(a)(3) of the Code
        and “permitted investments” as defined in Section 860G(a)(5) of the Code, to the
        extent such obligations are within the Trustee’s, Trust Administrator’s or
        Servicer’s, as applicable, control and not otherwise inconsistent with the terms
        of this Agreement.

       

      (g)  In
        the
        event that any tax is imposed on “prohibited transactions” of the REMIC created
        hereunder as defined in Section 860F(a)(2) of the Code, on the “net income from
        foreclosure property” of the REMIC as defined in Section 860G(c) of the Code, on
        any contributions to the REMIC after the Startup Day therefor pursuant to
        Section 860G(d) of the Code, or any other tax is imposed by the Code or any
        applicable provisions of state or local tax laws, such tax shall be charged
        (i)
        to the Trust Administrator pursuant to Section 10.03 hereof, if such tax
        arises
        out of or results from a breach by the Trust Administrator of any of its
        obligations under this Article X, (ii) to the Trustee pursuant to Section
        10.03
        hereof, if such tax arises out of or results from a breach by the Trustee
        of any
        of its obligations under this Article X, (iii) to the Servicer pursuant to
        Section 10.03 hereof, if such tax arises out of or results from a breach
        by the
        Servicer of any of its obligations under Article III or this Article X, or
        otherwise (iv) against amounts on deposit in the Distribution Account and
        shall
        be paid by withdrawal therefrom.

       

      (h)  The
        Trust
        Administrator shall prepare and forward to the Certificateholders, upon written
        request, and to the Internal Revenue Service and, if necessary, state tax
        authorities, all information returns and reports as and when required to
        be
        provided to them under the Code, including, but not limited to, the calculation
        of any original issue discount using the prepayment assumption (as described
        in
        the Prospectus Supplement).

       

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

       

      (j)  Following
        the Startup Day, the Servicer, the Trustee and the Trust Administrator shall
        not
        accept any contributions of assets to any Trust REMIC other than in connection
        with any Qualified Substitute Mortgage Loan delivered in accordance with
        Section
        2.03 unless it shall have received an Opinion of Counsel to the effect that
        the
        inclusion of such assets in the Trust Fund will not cause the REMIC to fail
        to
        qualify as a REMIC at any time that any Certificates are outstanding or subject
        the REMIC to any tax under the REMIC Provisions or other applicable provisions
        of federal, state and local law or ordinances.

       

      (k)  None
        of
        the Trustee, the Trust Administrator or the Servicer shall enter into any
        arrangement by which any Trust REMIC will receive a fee or other compensation
        for services nor permit either such REMIC to receive any income from assets
        other than “qualified mortgages” as defined in Section 860G(a)(3) of the Code or
“permitted investments” as defined in Section 860G(a)(5) of the
        Code.

       

      
        	
              	SECTION
                10.02	
                Prohibited
                  Transactions and Activities.

              

      

       

      None
        of
        the Depositor, the Servicer, the Trust Administrator or the Trustee shall
        sell,
        dispose of or substitute for any of the Mortgage Loans (except in connection
        with (i) the foreclosure of a Mortgage Loan, including but not limited to,
        the
        acquisition or sale of a Mortgaged Property acquired by deed in lieu of
        foreclosure, (ii) the bankruptcy of any Trust REMIC, (iii) the termination
        of
        any Trust REMIC pursuant to Article IX of this Agreement, (iv) a substitution
        pursuant to Article II of this Agreement or (v) a purchase of Mortgage Loans
        pursuant to Article II or III of this Agreement), nor acquire any assets
        for any
        Trust REMIC (other than REO Property acquired in respect of a defaulted Mortgage
        Loan), nor sell or dispose of any investments in the Collection Account or
        the
        Distribution Account for gain, nor accept any contributions to any Trust
        REMIC
        after the Closing Date (other than a Qualified Substitute Mortgage Loan
        delivered in accordance with Section 2.03), unless it has received an Opinion
        of
        Counsel, addressed to the Trustee and the Trust Administrator (at the expense
        of
        the party seeking to cause such sale, disposition, substitution, acquisition
        or
        contribution but in no event at the expense of the Trustee or the Trust
        Administrator) that such sale, disposition, substitution, acquisition or
        contribution will not (a) affect adversely the status of any Trust REMIC
        as a
        REMIC or (b) cause any Trust REMIC to be subject to a tax on “prohibited
        transactions” or “contributions” pursuant to the REMIC Provisions.

       

      
        	
              	SECTION
                10.03	
                Servicer,
                  Trustee and Trust Administrator
                  Indemnification.

              

      

       

      (a)  The
        Trust
        Administrator agrees to indemnify the Trust Fund, the Depositor, the Servicer
        and the Trustee for any taxes and costs including, without limitation, any
        reasonable attorneys fees imposed on or incurred by the Trust Fund, the
        Depositor, the Servicer or the Trustee as a result of a breach of the Trust
        Administrator’s covenants set forth in this Article X.

       

      (b)  The
        Servicer agrees to indemnify the Trust Fund, the Depositor, the Trust
        Administrator and the Trustee for any taxes and costs including, without
        limitation, any reasonable attorneys’ fees imposed on or incurred by the Trust
        Fund, the Depositor, the Trust Administrator or the Trustee, as a result
        of a
        breach of the Servicer’s covenants set forth in Article III or this Article
        X.

       

      (c)  The
        Trustee agrees to indemnify the Trust Fund, the Depositor, the Trust
        Administrator and the Servicer for any taxes and costs including, without
        limitation, any reasonable attorneys’ fees imposed on or incurred by the Trust
        Fund, the Depositor, the Trust Administrator or the Servicer, as a result
        of a
        breach of the Trustee’s covenants set forth in this Article X.

       

      ARTICLE
        XI

       

      MISCELLANEOUS
        PROVISIONS

       

      
        	
              	SECTION
                11.01	
                Amendment.

              

      

       

      This
        Agreement may be amended from time to time by the Depositor, the Servicer,
        the
        Trustee and the Trust Administrator without the consent of any of the
        Certificateholders, (i) to cure any ambiguity or defect, (ii) to correct,
        modify
        or supplement any provisions herein (including to give effect to the
        expectations of Certificateholders) or (iii) to make any other provisions
        with
        respect to matters or questions arising under this Agreement which shall
        not be
        inconsistent with the provisions of this Agreement, provided that such action
        shall not, as evidenced by either (a) an Opinion of Counsel delivered to
        the
        Trustee and the Trust Administrator, adversely affect in any material respect
        the interests of any Certificateholder or (b) written or electronic notice
        to
        the Depositor, the Servicer, the Trustee and the Trust Administrator from
        the
        Rating Agencies that such action will not result in the reduction or withdrawal
        of the rating of any outstanding Class of Certificates with respect to which
        it
        is a Rating Agency). No amendment shall be deemed to adversely affect in
        any
        material respect the interests of any Certificateholder who shall have consented
        thereto, and no Opinion of Counsel or Rating Agency confirmation shall be
        required to address the effect of any such amendment on any such consenting
        Certificateholder.

       

      This
        Agreement may also be amended from time to time by the Depositor, the Servicer,
        the Trustee and the Trust Administrator with the consent of the Holders of
        Certificates entitled to at least 66% of the Voting Rights for the purpose
        of
        adding any provisions to or changing in any manner or eliminating any of
        the
        provisions of this Agreement or of modifying in any manner the rights of
        the
        Holders of Certificates; provided, however, that no such amendment shall
        (i)
        reduce in any manner the amount of, or delay the timing of, payments received
        on
        Mortgage Loans which are required to be distributed on any Certificate without
        the consent of the Holder of such Certificate, (ii) adversely affect in any
        material respect the interests of the Holders of any Class of Certificates
        (as
        evidenced by either (i) an Opinion of Counsel delivered to the Trustee and
        Trust
        Administrator or (ii) written notice to the Depositor, the Servicer, the
        Trustee
        and the Trust Administrator from the Rating Agencies that such action will
        not
        result in the reduction or withdrawal of the rating of any outstanding Class
        of
        Certificates with respect to which it is a Rating Agency) in a manner, other
        than as described in (i), without the consent of the Holders of Certificates
        of
        such Class evidencing at least 66% of the Voting Rights allocated to such
        Class,
        or (iii) modify the consents required by the immediately preceding clauses
        (i)
        and (ii) without the consent of the Holders of all Certificates then
        outstanding. Notwithstanding any other provision of this Agreement, for purposes
        of the giving or withholding of consents pursuant to this Section 11.01,
        Certificates registered in the name of the Depositor or the Servicer or any
        Affiliate thereof shall be entitled to Voting Rights with respect to matters
        affecting such Certificates.

       

      Notwithstanding
        any contrary provision of this Agreement, neither the Trustee nor the Trust
        Administrator shall consent to any amendment to this Agreement unless it
        shall
        have first received an Opinion of Counsel to the effect that such amendment
        will
        not result in the imposition of any tax on any Trust REMIC pursuant to the
        REMIC
        Provisions or cause any Trust REMIC to fail to qualify as a REMIC at any
        time
        that any Certificates are outstanding.

       

      Prior
        to
        executing any amendment pursuant to this Section, the Trustee and the Trust
        Administrator shall be entitled to receive an Opinion of Counsel (provided
        by
        the Person requesting such amendment) to the effect that such amendment is
        authorized or permitted by this Agreement.

       

      Promptly
        after the execution of any such amendment the Trust Administrator shall furnish
        a copy of such amendment to each Certificateholder.

       

      It
        shall
        not be necessary for the consent of Certificateholders under this Section
        11.01
        to approve the particular form of any proposed amendment, but it shall be
        sufficient if such consent shall approve the substance thereof. The manner
        of
        obtaining such consents and of evidencing the authorization of the execution
        thereof by Certificateholders shall be subject to such reasonable regulations
        as
        the Trust Administrator may prescribe.

       

      The
        cost
        of any Opinion of Counsel to be delivered pursuant to this Section 11.01
        shall
        be borne by the Person seeking the related amendment, but in no event shall
        such
        Opinion of Counsel be an expense of the Trustee or the Trust
        Administrator.

       

      Notwithstanding
        the foregoing, each of the Trustee and Trust Administrator may, but shall
        not be
        obligated to enter into any amendment pursuant to this Section that affects
        its
        rights, duties and immunities under this Agreement or otherwise.

       

      
        	
              	SECTION
                11.02	
                Recordation
                  of Agreement; Counterparts.

              

      

       

      To
        the
        extent permitted by applicable law, this Agreement is subject to recordation
        in
        all appropriate public offices for real property records in all the counties
        or
        other comparable jurisdictions in which any or all of the properties subject
        to
        the Mortgages are situated, and in any other appropriate public recording
        office
        or elsewhere, such recordation to be effected by the Servicer at the expense
        of
        the Certificateholders, but only upon direction of Certificateholders
        accompanied by an Opinion of Counsel to the effect that such recordation
        materially and beneficially affects the interests of the
        Certificateholders.

       

      For
        the
        purpose of facilitating the recordation of this Agreement as herein provided
        and
        for other purposes, this Agreement may be executed simultaneously in any
        number
        of counterparts, each of which counterparts shall be deemed to be an original,
        and such counterparts shall constitute but one and the same
        instrument.

       

      
        	
              	SECTION
                11.03	
                Limitation
                  on Rights of Certificateholders.

              

      

       

      The
        death
        or incapacity of any Certificateholder shall not operate to terminate this
        Agreement or the Trust Fund, nor entitle such Certificateholder’s legal
        representatives or heirs to claim an accounting or to take any action or
        proceeding in any court for a partition or winding up of the Trust Fund,
        nor
        otherwise affect the rights, obligations and liabilities of the parties hereto
        or any of them.

       

      No
        Certificateholder shall have any right to vote (except as expressly provided
        for
        herein) or in any manner otherwise control the operation and management of
        the
        Trust Fund, or the obligations of the parties hereto, nor shall anything
        herein
        set forth, or contained in the terms of any of the Certificates, be construed
        so
        as to constitute the Certificateholders from time to time as partners or
        members
        of an association; nor shall any Certificateholder be under any liability
        to any
        third person by reason of any action taken by the parties to this Agreement
        pursuant to any provision hereof.

       

      No
        Certificateholder shall have any right by virtue of any provision of this
        Agreement to institute any suit, action or proceeding in equity or at law
        upon
        or under or with respect to this Agreement, unless (i) such Holder previously
        shall have given to the Trustee and Trust Administrator a written notice
        of
        default and of the continuance thereof, as hereinbefore provided, and (ii)
        the
        Holders of Certificates entitled to at least 25% of the Voting Rights shall
        have
        made written request upon the Trustee and the Trust Administrator to institute
        such action, suit or proceeding in its own name as Trustee or Trust
        Administrator hereunder and shall have offered to the Trustee or the Trust
        Administrator, as applicable, such indemnity satisfactory to it against the
        costs, expenses and liabilities to be incurred therein or thereby, and the
        Trustee or the Trust Administrator, for 15 days after its receipt of such
        notice, request and offer of indemnity, shall have neglected or refused to
        institute any such action, suit or proceeding. It is understood and intended,
        and expressly covenanted by each Certificateholder with every other
        Certificateholder, the Trustee and the Trust Administrator, that no one or
        more
        Holders of Certificates shall have any right in any manner whatsoever by
        virtue
        of any provision of this Agreement to affect, disturb or prejudice the rights
        of
        the Holders of any other of such Certificates, or to obtain or seek to obtain
        priority over or preference to any other such Holder, or to enforce any right
        under this Agreement, except in the manner herein provided and for the equal,
        ratable and common benefit of all Certificateholders. For the protection
        and
        enforcement of the provisions of this Section, each and every Certificateholder,
        the Trustee and the Trust Administrator shall be entitled to such relief
        as can
        be given either at law or in equity.

       

      
        	
              	SECTION
                11.04	
                Governing
                  Law.

              

      

       

      This
        Agreement 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
                11.05	
                Notices.

              

      

       

      All
        directions, demands and notices hereunder shall be sent (i) via facsimile
        (with
        confirmation of receipt) or (ii) in writing and shall be deemed to have been
        duly given when received if personally delivered at or mailed by first class
        mail, postage prepaid, or by express delivery service or delivered in any
        other
        manner specified herein, to (a) in the case of the Depositor, 390 Greenwich
        Street, New York, New York 10013, Attention: Mortgage Finance Group (telecopy
        number (212) 723-8604), or such other address or telecopy number as may
        hereafter be furnished to the Servicer, the Trust Administrator and the Trustee
        in writing by the Depositor,
        (b) in
        the case of the Servicer, 1
        Home
        Campus, Des Moines, IA 50328-0001, Attention: John B. Brown, MAC X 2302-033,
        (telecopy number: (515) 324-3118), with a copy to General Counsel, 1 Home
        Campus, Des Moines, IA 50328-0001, MAC X 2401-06T, (telecopy number: (515)
        213-5192) or such other address or telecopy number as may hereafter be furnished
        to the Trustee, the Trust Administrator and the Depositor in writing by the
        Servicer, (c) in the case of the Trust Administrator, 388 Greenwich Street
        -
        14th
        Floor,
        New York, New York 10013, Attention: CMLTI 2007-WFHE2 (telecopy number (949)
        250-6450), or such other address or telecopy number as may hereafter be
        furnished to the Trustee, the Servicer and the Depositor in writing by the
        Trust
        Administrator and (d) in the case of the Trustee, U.S. Bank National
        Association, One Federal Street - 3rd
        Floor,
        Boston, Massachusetts 02110, Attention: Structured Finance/CMLTI 2007-WFHE2
        (telecopy number (617) 603-6637), or such other address or telecopy number
        as
        may hereafter be furnished to the Servicer, the Trust Administrator and the
        Depositor in writing by the Trustee. Any notice required or permitted to
        be
        given to a Certificateholder shall be given by first class mail, postage
        prepaid, at the address of such Holder as shown in the Certificate Register.
        Any
        notice so mailed within the time prescribed in this Agreement shall be
        conclusively presumed to have been duly given when mailed, whether or not
        the
        Certificateholder receives such notice. A copy of any notice required to
        be
        telecopied hereunder also shall be mailed to the appropriate party in the
        manner
        set forth above.

       

      
        	
              	SECTION
                11.06	
                Severability
                  of Provisions.

              

      

       

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

       

      
        	
              	SECTION
                11.07	
                Notice
                  to Rating Agencies.

              

      

       

      The
        Trust
        Administrator shall use its best efforts promptly to provide notice to the
        Rating Agencies, and the Servicer shall use its best efforts promptly to
        provide
        notice to the Trust Administrator, with respect to each of the following
        of
        which the Trust Administrator or the Servicer, as applicable, has actual
        knowledge:

       

      1.   Any
        material change or amendment to this Agreement;

       

      2.   The
        occurrence of any Servicer Event of Default that has not been cured or
        waived;

       

      3.   The
        resignation or termination of the Servicer, the Trust Administrator or the
        Trustee;

       

      4.   The
        repurchase or substitution of Mortgage Loans pursuant to or as contemplated
        by
        Section 2.03;

       

      5.   The
        final
        payment to the Holders of any Class of Certificates;

       

      6.   Any
        change in the location of the Collection Account or the Distribution
        Account;

       

      7.   Any
        event
        that would result in the inability of the Trust Administrator or the Trustee,
        as
        applicable, were it to succeed as Servicer, to make advances regarding
        delinquent Mortgage Loans; and

       

      8.   The
        filing of any claim under the Servicer’s blanket bond and errors and omissions
        insurance policy required by Section 3.14 or the cancellation or material
        modification of coverage under any such instrument.

       

      In
        addition, the Trust Administrator shall make available to the Rating Agencies
        copies of each report to Certificateholders described in Section 4.02 and
        the
        Servicer, as required pursuant to Section 3.20 and Section 3.21, shall promptly
        furnish to the Rating Agencies copies of the following:

       

      1.   Each
        annual statement as to compliance described in Section 3.20; and

       

      2.   Each
        annual independent public accountants’ servicing report described in Section
        3.21.

       

      Any
        such
        notice pursuant to this Section 11.07 shall be in writing and shall be deemed
        to
        have been duly given if personally delivered at or mailed by first class
        mail,
        postage prepaid, or by express delivery service to Standard & Poor’s Ratings
        Services, a division of The McGraw-Hill Companies, Inc., 55 Water Street,
        New
        York, New York 10041 and to Moody’s at 99 Church Street, New York, New York
        10007 or such other addresses as the Rating Agencies may designate in writing
        to
        the parties hereto.

       

      
        	
              	SECTION
                11.08	
                Article
                  and Section References.

              

      

       

      All
        article and section references used in this Agreement, unless otherwise
        provided, are to articles and sections in this Agreement.

       

      
        	
              	SECTION
                11.09	
                Grant
                  of Security Interest.

              

      

       

      It
        is the
        express intent of the parties hereto that the conveyance of the Mortgage
        Loans
        by the Depositor to the Trustee be, and be construed as, a sale of the Mortgage
        Loans by the Depositor and not a pledge of the Mortgage Loans by the Depositor
        to secure a debt or other obligation of the Depositor. However, in the event
        that, notwithstanding the aforementioned intent of the parties, the Mortgage
        Loans are held to be property of the Depositor, then, (a) it is the express
        intent of the parties that such conveyance be deemed a pledge of the Mortgage
        Loans by the Depositor to the Trustee to secure a debt or other obligation
        of
        the Depositor and (b)(1) this Agreement shall also be deemed to be a security
        agreement within the meaning of Articles 8 and 9 of the Uniform Commercial
        Code
        as in effect from time to time in the State of New York; (2) the conveyance
        provided for in Section 2.01 hereof shall be deemed to be a grant by the
        Depositor to the Trustee of a security interest in all of the Depositor’s right,
        title and interest in and to the Mortgage Loans and all amounts payable to
        the
        holders of the Mortgage Loans in accordance with the terms thereof and all
        proceeds of the conversion, voluntary or involuntary, of the foregoing into
        cash, instruments, securities or other property, including without limitation
        all amounts, other than investment earnings, from time to time held or invested
        in the Collection Account and the Distribution Account, whether in the form
        of
        cash, instruments, securities or other property; (3) the obligations secured
        by
        such security agreement shall be deemed to be all of the Depositor’s obligations
        under this Agreement, including the obligation to provide to the
        Certificateholders the benefits of this Agreement relating to the Mortgage
        Loans
        and the Trust Fund; and (4) notifications to persons holding such property,
        and
        acknowledgments, receipts or confirmations from persons holding such property,
        shall be deemed notifications to, or acknowledgments, receipts or confirmations
        from, financial intermediaries, bailees or agents (as applicable) of the
        Trustee
        for the purpose of perfecting such security interest under applicable law.
        Accordingly, the Depositor hereby grants to the Trustee a security interest
        in
        the Mortgage Loans and all other property described in clause (2) of the
        preceding sentence, for the purpose of securing to the Trustee the performance
        by the Depositor of the obligations described in clause (3) of the preceding
        sentence. Notwithstanding the foregoing, the parties hereto intend the
        conveyance pursuant to Section 2.01 to be a true, absolute and unconditional
        sale of the Mortgage Loans and assets constituting the Trust Fund by the
        Depositor to the Trustee.

       

      
        	
              	SECTION
                11.10	
                RESERVED.

              

      

       

      
        	
              	SECTION
                11.11	
                Intention
                  of the Parties and Interpretation.

              

      

       

      Each
        of
        the parties acknowledges and agrees that the purpose of Sections 3.20, 3.21
        and  4.07 of this Agreement is to facilitate compliance by
        the Depositor with the provisions of Regulation AB promulgated by the SEC
        under the 1934 Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be amended
        from time to time and subject to clarification and interpretive advice as
        may be
        issued by the staff of the SEC from time to time. Therefore, each of the
        parties
        agrees that (a) the obligations of the parties hereunder shall be interpreted
        in
        such a manner as to accomplish that purpose, (b) the parties’ obligations
        hereunder will be supplemented and modified as necessary to be consistent
        with
        any such amendments, interpretive advice or guidance, convention or consensus
        among active participants in the asset-backed securities markets, opinion
        of
        counsel, or otherwise in respect of the requirements of Regulation AB, (c)
        the
        parties shall comply with requests made by the Depositor for delivery of
        additional or different information, to the extent that such information
        is
        available or reasonably attainable, as the Depositor may determine in good
        faith is necessary to comply with the provisions of Regulation AB, and (d)
        no
        amendment of this Agreement shall be required to effect any such changes
        in the
        parties’ obligations as are necessary to accommodate evolving interpretations of
        the provisions of Regulation AB; provided, however, that any such changes
        shall
        require the consent of each of the parties hereto.

       

      IN
        WITNESS WHEREOF, the Depositor, the Servicer, the Trust Administrator and
        the
        Trustee have caused their names to be signed hereto by their respective officers
        thereunto duly authorized, in each case as of the day and year first above
        written.

      
        	 	 	 
	 	
                CITIGROUP
                  MORTGAGE LOAN TRUST INC.,

                as
                  Depositor

              
	 
 	 
 	 
 
	 	 	By: 
                /s/ Matthew Bollo
	 	
                
                  

                

              
	 	
                Name:
                  Matthew Bollo

                Title:
                  Assistant Vice President

              

      

       

      
        
          	 	 	 
	 	
                  
                    WELLS
                      FARGO BANK, N.A.,

                    as
                      Servicer

                  

                
	 
 	 
 	 
 
	 	 	By: 
                  /s/ Bradley A. Davis
	 	
                  
                    

                  

                
	 	
                  Name:
                    Bradley A. Davis

                  Title:
                    Vice President

                

        

      

       

      
        
          
            	 	 	 
	 	
                    
                      
                        CITIBANK,
                          N.A.,

                        as
                          Trust Administrator

                      

                    

                  
	 
 	 
 	 
 
	 	 	By: 
                    /s/ Valerie Delgado
	 	
                    
                      

                    

                  
	 	
                    Name:
                      Valerie Delgado

                    Title:
                      Vice President

                  

          

        

        
           

          
            
              
                	 	 	 
	 	
                        
                          
                            U.S.
                              BANK NATIONAL ASSOCIATION, not in 

                            its
                              individual capacity but solely as Trustee

                          

                        

                      
	 
 	 
 	 
 
	 	 	By: 
                        /s/ Clare M. O’Brien
	 	
                        
                          

                        

                      
	 	
                        Name:
                          Clare M. O’Brien

                        Title:
                          Vice President

                      

              

            

             

          

        

      

      For
        purposes of Sections 6.06, 6.07 and 6.08:
CLAYTON
      FIXED INCOME SERVICES INC.
       

      
        	 	 	 	 
	By: 
                /s/ Kevin J. Kanouff	 	 	 
	
                
                  

                

              	 	 	
              
	
                Name:
                  Kevin J. Kanouff

                Title:
                  President and General Counsel

              	 	 	 

      

      
 

      
        	STATE OF NEW YORK 	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

      

      
      

      On
        the
        ____ day of April 2007, before me, a notary public in and for said State,
        personally appeared __________________, known to me to be a __________________
        of Citigroup Mortgage Loan Trust Inc., one of the corporations that executed
        the
        within instrument, and also known to me to be the person who executed it
        on
        behalf of said entity, and acknowledged to me that such corporation executed
        the
        within instrument.

       

      IN
        WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal
        the
        day and year in this certificate first above written.

      
        	 	 	 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                

              
	 	
                Notary
                  Public

              

      

       

      [Notarial
        Seal]

       

      

        
          	STATE OF ______________)	)	 
	 	)	ss.:
	COUNTY OF ___________	)	 

        

      

      
      

      On
        the
        ____ day of April 2007, before me, a notary public in and for said State,
        personally appeared _________________, known to me to be a ________________
        of
        Wells Fargo Bank, N.A., one of the entities that executed the within instrument,
        and also known to me to be the person who executed it on behalf of said entity,
        and acknowledged to me that such corporation executed the within
        instrument.

       

      IN
        WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal
        the
        day and year in this certificate first above written.

      
        	 	 	 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                

              
	 	
                Notary
                  Public

              

      

       

      [Notarial
        Seal]

       

      

        
          	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

        

      

      
      

      On
        the
        ____ day of April 2007, before me, a notary public in and for said State,
        personally appeared _________________, known to me to be a ________________
        of
        Citibank, N.A., one of the entities that executed the within instrument,
        and
        also known to me to be the person who executed it on behalf of said entity,
        and
        acknowledged to me that such corporation executed the within
        instrument.

       

      IN
        WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal
        the
        day and year in this certificate first above written.

      
        
          	 	 	 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                  

                
	 	
                  Notary
                    Public

                

        

         

      

      [Notarial
        Seal]

       

       

      
        
          	STATE OF ____________	)	 
	 	)	ss.:
	COUNTY OF ___________	)	 

        

      

       

      On
        the
        ____ day of April 2007, before me, a notary public in and for said State,
        personally appeared _________________, known to me to be a ________________
        of
        U.S. Bank National Association, one of the entities that executed the within
        instrument, and also known to me to be the person who executed it on behalf
        of
        said entity, and acknowledged to me that such entity executed the within
        instrument.

       

      IN
        WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal
        the
        day and year in this certificate first above written.

      
        
          	 	 	 
	 	 
	 
 	 
 	 
 
	 	 	 
	 	
                  

                
	 	
                  Notary
                    Public

                

        

         

      

      [Notarial
        Seal]

       

       

    

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A-1

     

    FORM
      OF
      CLASS A-1 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class A-1 Certificates as of
                the
                Issue Date: $ 418,372,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $418,372,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAA0

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class A-1 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      A-1 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class A-1
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
 

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
      duly
      executed.

     

    

      
        	
                Dated:
                  April ___, 2007

              	 	
                Citibank,
                  N.A., as Trust Administrator

                 

              
	 	
                By:

              	
                 

              
	 	 	
                 Authorized
                  Officer 

              

      

    

     

    
CERTIFICATE
      OF AUTHENTICATION

     

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

    

     

    
      

        
          	
                   

                	 	
                  Citibank,
                    N.A., as Trust Administrator

                   

                
	 	
                  By:

                	
                   

                
	 	 	
                   Authorized
                    Signatory

                

        

      

    

    
 

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this
      instrument, shall be construed as though they were written out in full according
      to applicable laws or regulations:

     

    
      	
              TEN
                COM - as tenants in common

               

            	
              UNIF
                GIFT MIN ACT - Custodian

               

            
	
              TEN
                ENT - as tenants by the entireties

               

            	
              (Cust)
                (Minor) underUniform
                Gifts to Minors Act

               

            
	
              JT
                TEN - as joint tenants with right if
                survivorship and not as tenants
                in common

               

            	
               

              _______________

                         
                (State)

               

            

    

    

    Additional
      abbreviations may also be used though not in the above list.

     

    ASSIGNMENT

     

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

    
      	 
	 

    

    (Please
      print or typewrite name, address including postal zip code, and Taxpayer
      Identification Number of assignee) a Percentage Interest equal to ____%
      evidenced by the within Asset-Backed Pass-Through Certificates and hereby
      authorize(s) the registration of transfer of such interest to assignee on the
      Certificate Register of the Trust Fund.

     

    I
      (we)
      further direct the Trustee to issue a new Certificate of a like Percentage
      Interest and Class to the above named assignee and deliver such Certificate
      to
      the following address: 

     

    
      	 
	 	
              .

            

    

    

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    

      
        	
                Distributions
                  shall be made, by wire transfer or otherwise, in immediately available
                  funds

              
	
                to

              	 	
                ,

              
	
                for
                  the account of

              	 	
                ,

              
	
                account
                  number___________, or, if mailed by check, to

              	 	
                ,

              
	
                Applicable
                  statements should be mailed to

              	 	
                ,

              
	 	
                .

              
	 	 
	
                This
                  information is provided by

              	 	
                ,

              
	
                the
                  assignee named above, or

              	 	
                ,

              
	
                as
                  its agent.

              	 	 

      

    

     

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-2

     

    FORM
      OF
      CLASS A-2 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class A-2 Certificates as of
                the
                Issue Date:
                $166,657,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                : $166,657,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP: 17312BAB8

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class A-2 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      A-2 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class A-2
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
      duly
      executed.

     

     

    
      

        
          	
                  Dated:
                    April ___, 2007

                	 	
                  Citibank,
                    N.A., as Trust Administrator

                   

                
	 	
                  By:

                	
                   

                
	 	 	
                   Authorized
                    Officer 

                

        

      

    

    

      
CERTIFICATE
        OF AUTHENTICATION

       

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

    

    
      

        
          	
                   

                	 	
                  Citibank,
                    N.A., as Trust Administrator

                   

                
	 	
                  By:

                	
                   

                
	 	 	
                   Authorized Signatory 

                

        

      

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this
      instrument, shall be construed as though they were written out in full according
      to applicable laws or regulations:

     

    
      	
              TEN
                COM - as tenants in common

               

            	
              UNIF
                GIFT MIN ACT - Custodian

            
	
              TEN
                ENT - as tenants by the entireties

               

            	
              (Cust)
                (Minor) under Uniform
                Gifts to Minors Act

               

            
	
              JT
                TEN - as joint tenants with right if
                survivorship and not as tenants
                in common

               

            	
               

              _______________

                        
                (State)

               

            

    

    

     

    Additional
      abbreviations may also be used though not in the above list.

     

    ASSIGNMENT

     

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

    
      	 
	 

    

    (Please
      print or typewrite name, address including postal zip code, and Taxpayer
      Identification Number of assignee) a Percentage Interest equal to ____%
      evidenced by the within Asset-Backed Pass-Through Certificates and hereby
      authorize(s) the registration of transfer of such interest to assignee on the
      Certificate Register of the Trust Fund.

     

    I
      (we)
      further direct the Trustee to issue a new Certificate of a like Percentage
      Interest and Class to the above named assignee and deliver such Certificate
      to
      the following address: 

    
      	 
	 	
              .

            

    

    

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    

      
        	
                Distributions
                  shall be made, by wire transfer or otherwise, in immediately available
                  funds

              
	
                to

              	 	
                ,

              
	
                for
                  the account of

              	 	
                ,

              
	
                account
                  number___________, or, if mailed by check, to

              	 	
                ,

              
	
                Applicable
                  statements should be mailed to

              	 	
                ,

              
	 	
                .

              
	 	 
	
                This
                  information is provided by

              	 	
                ,

              
	
                the
                  assignee named above, or

              	 	
                ,

              
	
                as
                  its agent.

              	 	 

      

    

     

     

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-3

     

    FORM
      OF
      CLASS A-3 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class A-3 Certificates as of
                the
                Issue Date: $104,265,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $104,265,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAC6

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class A-3 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      A-3 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class A-3
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
      duly
      executed.

    

    
      
        

          
            	
                    Dated:
                      April ___, 2007

                  	 	
                    Citibank,
                      N.A., as Trust Administrator

                     

                  
	 	
                    By:

                  	
                     

                  
	 	 	
                     Authorized
                      Officer 

                  

          

        

      

      

        
CERTIFICATE
          OF AUTHENTICATION

         

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

      
        

          
            	
                     

                  	 	
                    Citibank,
                      N.A., as Trust Administrator

                     

                  
	 	
                    By:

                  	
                     

                  
	 	 	
                     Authorized Signatory 

                  

          

        

      

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this
      instrument, shall be construed as though they were written out in full according
      to applicable laws or regulations:

     

    
      	
              TEN
                COM - as tenants in common

               

            	
              UNIF
                GIFT MIN ACT - Custodian

               

            
	
              TEN
                ENT - as tenants by the entireties

               

            	
              (Cust)
                (Minor) under Uniform
                Gifts to Minors Act

               

            
	
              JT
                TEN - as joint tenants with right if
                survivorship and not as tenants
                in common

               

            	
               

              _______________

                      
                (State)

               

            

    

    

    Additional
      abbreviations may also be used though not in the above list.

     

    ASSIGNMENT

     

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

    
      	 
	 

    

    (Please
      print or typewrite name, address including postal zip code, and Taxpayer
      Identification Number of assignee) a Percentage Interest equal to ____%
      evidenced by the within Asset-Backed Pass-Through Certificates and hereby
      authorize(s) the registration of transfer of such interest to assignee on the
      Certificate Register of the Trust Fund.

     

    I
      (we)
      further direct the Trustee to issue a new Certificate of a like Percentage
      Interest and Class to the above named assignee and deliver such Certificate
      to
      the following address:

    
      	 
	 	
              .

            

    

    

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

    

      
        	
                Distributions
                  shall be made, by wire transfer or otherwise, in immediately available
                  funds

              
	
                to

              	 	
                ,

              
	
                for
                  the account of

              	 	
                ,

              
	
                account
                  number___________, or, if mailed by check, to

              	 	
                ,

              
	
                Applicable
                  statements should be mailed to

              	 	
                ,

              
	 	
                .

              
	 	 
	
                This
                  information is provided by

              	 	
                ,

              
	
                the
                  assignee named above, or

              	 	
                ,

              
	
                as
                  its agent.

              	 	 

      

    

     

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-4

     

    FORM
      OF
      CLASS A-4 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class A-4 Certificates as of
                the
                Issue Date: $63,433,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $63,433,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAD4

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class A-4 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      A-4 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class A-4
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
      duly
      executed.

    
      

      
        
          

            
              	
                      Dated:
                        April ___, 2007

                    	 	
                      Citibank,
                        N.A., as Trust Administrator

                       

                    
	 	
                      By:

                    	
                       

                    
	 	 	
                       Authorized
                        Officer 

                    

            

          

        

        

          
CERTIFICATE
            OF AUTHENTICATION

           

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

        
          

            
              	
                       

                    	 	
                      Citibank,
                        N.A., as Trust Administrator

                       

                    
	 	
                      By:

                    	
                       

                    
	 	 	
                       Authorized Signatory 

                    

            

          

        

      

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this
      instrument, shall be construed as though they were written out in full according
      to applicable laws or regulations:

     

    
      	
              TEN
                COM - as tenants in common

               

            	
              UNIF
                GIFT MIN ACT - Custodian

               

            
	
              TEN
                ENT - as tenants by the entireties

               

            	
              (Cust)
                (Minor) under Uniform
                Gifts to Minors Act

               

            
	
              JT
                TEN - as joint tenants with right if
                survivorship and not as tenants
                in common

               

            	
               

              _______________

                       
                (State)

               

            

    

    

    Additional
      abbreviations may also be used though not in the above list.

     

    ASSIGNMENT

     

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

    
      	 
	 

    

    (Please
      print or typewrite name, address including postal zip code, and Taxpayer
      Identification Number of assignee) a Percentage Interest equal to ____%
      evidenced by the within Asset-Backed Pass-Through Certificates and hereby
      authorize(s) the registration of transfer of such interest to assignee on the
      Certificate Register of the Trust Fund.

     

    I
      (we)
      further direct the Trustee to issue a new Certificate of a like Percentage
      Interest and Class to the above named assignee and deliver such Certificate
      to
      the following address: 

    
      	 
	 	
              .

            

    

    

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    
      
        	
                Distributions
                  shall be made, by wire transfer or otherwise, in immediately available
                  funds

              
	
                to

              	 	
                ,

              
	
                for
                  the account of

              	 	
                ,

              
	
                account
                  number___________, or, if mailed by check, to

              	 	
                ,

              
	
                Applicable
                  statements should be mailed to

              	 	
                ,

              
	 	
                .

              
	 	 
	
                This
                  information is provided by

              	 	
                ,

              
	
                the
                  assignee named above, or

              	 	
                ,

              
	
                as
                  its agent.

              	 	 

      

    

    
 

    

    
      
        
          

           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-5

     

    FORM
      OF
      CLASS M-1 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES TO THE EXTENT DESCRIBED
      IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED
      HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-1 Certificates as of
                the
                Issue Date: $40,086,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $40,086,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAE2

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-1 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-1 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-1
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-6

     

    FORM
      OF
      CLASS M-2 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES AND THE CLASS M-1
      CERTIFICATES TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT
      REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-2 Certificates as of
                the
                Issue Date: $44,540,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $44,540,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAF9

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-2 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-2 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-2
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-7

     

    FORM
      OF
      CLASS M-3 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES AND THE CLASS M-2 CERTIFICATES TO THE EXTENT DESCRIBED IN THE
      POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-3 Certificates as of
                the
                Issue Date: $20,291,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $20,291,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAG7

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-3 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-3 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-3
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-8

     

    FORM
      OF
      CLASS M-4 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES AND THE CLASS M-3 CERTIFICATES TO
      THE
      EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO
      HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-4 Certificates as of
                the
                Issue Date: $17,816,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $17,816,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAH5

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-4 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-4 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-4
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-9

     

    FORM
      OF
      CLASS M-5 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES AND THE
      CLASS M-4 CERTIFICATES TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING
      AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-5 Certificates as of
                the
                Issue Date: $15,836,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $15,836,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAJ1

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-5 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-5 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-5
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-10

     

    FORM
      OF
      CLASS M-6 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES, THE CLASS
      M-4 CERTIFICATES AND THE CLASS M-5 CERTIFICATES TO THE EXTENT DESCRIBED IN
      THE
      POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-6 Certificates as of
                the
                Issue Date: $11,383,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                : $11,383,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAK8

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-6 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-6 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-6
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      
        IN
          WITNESS WHEREOF, the Trust Administrator has caused this Certificate to
          be duly
          executed.

        
          

          
            
              

                
                  	
                          Dated:
                            April ___, 2007

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized
                            Officer 

                        

                

              

            

            

              
CERTIFICATE
                OF AUTHENTICATION

               

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

            
              

                
                  	
                           

                        	 	
                          Citibank,
                            N.A., as Trust Administrator

                           

                        
	 	
                          By:

                        	
                           

                        
	 	 	
                           Authorized Signatory 

                        

                

              

            

          

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        ABBREVIATIONS

         

        The
          following abbreviations, when used in the inscription on the face of this
          instrument, shall be construed as though they were written out in full
          according
          to applicable laws or regulations:

         

        
          	
                  TEN
                    COM - as tenants in common

                   

                	
                  UNIF
                    GIFT MIN ACT - Custodian

                   

                
	
                  TEN
                    ENT - as tenants by the entireties

                   

                	
                  (Cust)
                    (Minor) under Uniform
                    Gifts to Minors Act

                   

                
	
                  JT
                    TEN - as joint tenants with right if
                    survivorship and not as tenants
                    in common

                   

                	
                   

                  _______________

                           
                    (State)

                   

                

        

        

        Additional
          abbreviations may also be used though not in the above list.

         

        ASSIGNMENT

         

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

        
          	 
	 

        

        (Please
          print or typewrite name, address including postal zip code, and Taxpayer
          Identification Number of assignee) a Percentage Interest equal to ____%
          evidenced by the within Asset-Backed Pass-Through Certificates and hereby
          authorize(s) the registration of transfer of such interest to assignee
          on the
          Certificate Register of the Trust Fund.

         

        I
          (we)
          further direct the Trustee to issue a new Certificate of a like Percentage
          Interest and Class to the above named assignee and deliver such Certificate
          to
          the following address: 

        
          	 
	 	
                  .

                

        

        

        
          	
                  Dated:

                	 
	 	
                  Signature
                    by or on behalf of assignor

                
	 	 
	 	 
	 	 
	 	
                  Signature
                    Guaranteed

                

        

        

        
          
             

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        
          
            	
                    Distributions
                      shall be made, by wire transfer or otherwise, in immediately
                      available
                      funds

                  
	
                    to

                  	 	
                    ,

                  
	
                    for
                      the account of

                  	 	
                    ,

                  
	
                    account
                      number___________, or, if mailed by check, to

                  	 	
                    ,

                  
	
                    Applicable
                      statements should be mailed to

                  	 	
                    ,

                  
	 	
                    .

                  
	 	 
	
                    This
                      information is provided by

                  	 	
                    ,

                  
	
                    the
                      assignee named above, or

                  	 	
                    ,

                  
	
                    as
                      its agent.

                  	 	 

          

        

        

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-11

     

    FORM
      OF
      CLASS M-7 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES, THE CLASS
      M-4 CERTIFICATES, THE CLASS M-5 CERTIFICATES AND THE CLASS M-6 CERTIFICATES
      TO
      THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO
      HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-7 Certificates as of
                the
                Issue Date: $10,887,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $10,887,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAL6

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-7 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-7 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-7
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator, the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-12

     

    FORM
      OF
      CLASS M-8 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES, THE CLASS
      M-4 CERTIFICATES, THE CLASS M-5 CERTIFICATES, THE CLASS M-6 CERTIFICATES AND
      THE
      CLASS M-7 CERTIFICATES TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING
      AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-8 Certificates as of
                the
                Issue Date:
                $8,909,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $8,909,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAM4

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-8 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-8 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-8
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-13

     

    FORM
      OF
      CLASS M-9 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES, THE CLASS
      M-4 CERTIFICATES, THE CLASS M-5 CERTIFICATES, THE CLASS M-6 CERTIFICATES, THE
      CLASS M-7 CERTIFICATES AND THE CLASS M-8 CERTIFICATES TO THE EXTENT DESCRIBED
      IN
      THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-9 Certificates as of
                the
                Issue Date: $13,856,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $13,856,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAN2

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-9 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-9 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-9
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    

    

    

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-14

     

    FORM
      OF
      CLASS M-10 CERTIFICATE

     

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

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES, THE CLASS M-1
      CERTIFICATES, THE CLASS M-2 CERTIFICATES, THE CLASS M-3 CERTIFICATES, THE CLASS
      M-4 CERTIFICATES, THE CLASS M-5 CERTIFICATES, THE CLASS M-6 CERTIFICATES, THE
      CLASS M-7 CERTIFICATES, THE CLASS M-8 CERTIFICATES AND THE CLASS M-9
      CERTIFICATES TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT
      REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class M-10 Certificates as of
                the
                Issue Date: $17,817,000.00

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $17,817,000.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            
	 	
              CUSIP:
                17312BAP7

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Cede & Co. is the registered owner of a Percentage Interest
      (obtained by dividing the denomination of this Certificate by the aggregate
      Certificate Principal Balance of the Class M-10 Certificates as of the Issue
      Date) in that certain beneficial ownership interest evidenced by all the Class
      M-10 Certificates in the REMIC created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class M-10
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders, under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder's attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the Trust
      Administrator shall require receipt of if such transfer is purportedly being
      made in reliance upon Rule 144A under the 1933 Act, written certifications
      from
      the Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit F-1. None of the Depositor or the Trust Administrator
      is
      obligated to register or qualify the Class of Certificates specified on the
      face
      hereof under the 1933 Act or any other securities law or to take any action
      not
      otherwise required under the Agreement to permit the transfer of such
      Certificates without registration or qualification. Any Holder desiring to
      effect a transfer of this Certificate shall be required to indemnify the
      Trustee, the Trust Administrator, the Depositor, the Servicer and any
      Sub-Servicer against any liability that may result if the transfer is not so
      exempt or is not made in accordance with such federal and state
      laws.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using "Plan Assets" to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in the REMIC and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from the REMIC
      of
      all the Mortgage Loans and all property acquired in respect of such Mortgage
      Loans. The Agreement permits, but does not require, the party designated in
      the
      Agreement to purchase from the REMIC all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off
      Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-15

     

    FORM
      OF
      CLASS CE CERTIFICATE

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE IS SUBORDINATE TO THE CLASS A CERTIFICATES AND THE MEZZANINE
      CERTIFICATES TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT
      REFERRED TO HEREIN.

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD
      OR
      TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR IS SOLD
      OR
      TRANSFERRED IN TRANSACTIONS THAT ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT
      AND
      UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH THE PROVISIONS
      OF SECTION 5.02 OF THE AGREEMENT.

     

    NO
      TRANSFER OF THIS CERTIFICATE SHALL BE MADE UNLESS THE TRANSFEREE OF SUCH
      CERTIFICATE PROVIDES TO THE TRUSTEE THE APPROPRIATE TAX CERTIFICATION FORM
      (I.E., IRS FORM W-9 OR IRS FORM W-8BEN, W-8IMY, W-8EXP OR W-8ECI, AS APPLICABLE
      (OR ANY SUCCESSOR FORM THERETO)), AS A CONDITION TO SUCH TRANSFER AND AGREES
      TO
      UPDATE SUCH FORMS (I) UPON EXPIRATION OF ANY SUCH FORM, (II) AS REQUIRED UNDER
      THEN APPLICABLE U.S. TREASURY REGULATIONS AND (III) PROMPTLY UPON LEARNING
      THAT
      ANY IRS FORM W-9 OR IRS FORM W-8BEN, W-8IMY, W-8EXP OR W-8ECI, AS APPLICABLE
      (OR
      ANY SUCCESSOR FORM THERETO), HAS BECOME OBSOLETE OR INCORRECT.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    
      	
              Series:
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class CE Certificates as of
                the Issue
                Date: $35,632,482.63

               

               

               

            
	
              Pass-Through
                Rate: Variable

               

            	
              Denomination:
                $35,632,482.63

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	
              No.
                1

               

            	
              Trustee:
                U.S. Bank National Association

               

            
	
              Aggregate
                Notional Amount of the Class

              CE
                Certificates
                as of the Issue Date:  $989,780,482.63

               

            	
              Issue
                Date: April 10, 2007

               

            

    

    

    THE
      OUTSTANDING CERTIFICATE PRINCIPAL BALANCE OR NOTIONAL AMOUNT HEREOF AT ANY
      TIME
      MAY BE LESS THAN THE AMOUNT SHOWN ABOVE AS THE INITIAL CERTIFICATE PRINCIPAL
      BALANCE OR NOTIONAL AMOUNT, AS THE CASE MAY BE, OF THIS
      CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET
      BACKED PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a portion of a Trust Fund (the “Trust Fund”)
      consisting primarily of a pool of conventional one- to four-family, fixed-rate
      and adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Citigroup Global Markets Realty Corp. is the registered owner
      of
      a Percentage Interest (obtained by dividing the denomination of this Certificate
      by the aggregate Certificate Principal Balance of the Class CE Certificates
      as
      of the Issue Date) in that certain beneficial ownership interest evidenced
      by
      all the Class CE Certificates in REMIC II created pursuant to a Pooling and
      Servicing Agreement, dated as specified above (the “Agreement”), among Citigroup
      Mortgage Loan Trust Inc. (hereinafter called the “Depositor,” which term
      includes any successor entity under the Agreement), the Servicer, Trust
      Administrator and the Trustee, a summary of certain of the pertinent provisions
      of which is set forth hereafter. To the extent not defined herein, the
      capitalized terms used herein have the meanings assigned in the Agreement.
      This
      Certificate is issued under and is subject to the terms, provisions and
      conditions of the Agreement, to which Agreement the Holder of this Certificate
      by virtue of the acceptance hereof assents and by which such Holder is
      bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class CE
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the Trust
      Administrator shall require receipt of (i) if such transfer is purportedly
      being
      made in reliance upon Rule 144A under the 1933 Act, written certifications
      from
      the Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit F-1, and (ii) in all other cases, an Opinion of Counsel
      satisfactory to it that such transfer may be made without such registration
      or
      qualification (which Opinion of Counsel shall not be an expense of the Trust
      Fund or of the Depositor, the Trustee, the Trust Administrator or the Servicer
      in their respective capacities as such), together with copies of the written
      certification(s) of the Holder of the Certificate desiring to effect the
      transfer and/or such Holder’s prospective transferee upon which such Opinion of
      Counsel is based. None of the Depositor or the Trust Administrator is obligated
      to register or qualify the Class of Certificates specified on the face hereof
      under the 1933 Act or any other securities law or to take any action not
      otherwise required under the Agreement to permit the transfer of such
      Certificates without registration or qualification. Any Holder desiring to
      effect a transfer of this Certificate shall be required to indemnify the
      Trustee, the Trust Administrator, the Depositor, the Servicer and any
      Sub-Servicer against any liability that may result if the transfer is not so
      exempt or is not made in accordance with such federal and state
      laws.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or Section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using “Plan Assets” to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement. In
      addition, no transfer of this Certificate shall be made except in accordance
      with the tax certification form procedures set forth in Section 5.02(b) of
      the
      Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in REMIC I and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from REMIC I of
      all
      the Mortgage Loans and all property acquired in respect of such Mortgage Loans.
      The Agreement permits, but does not require, the party designated in the
      Agreement to purchase from REMIC I all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
      Cut-off Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-16

     

    FORM
      OF
      CLASS P CERTIFICATE

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD
      OR
      TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR IS SOLD
      OR
      TRANSFERRED IN TRANSACTIONS THAT ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT
      AND
      UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH THE PROVISIONS
      OF SECTION 5.02 OF THE AGREEMENT.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
      AS
      AMENDED, OR THE CODE WILL BE REGISTERED EXCEPT IN COMPLIANCE WITH THE PROCEDURES
      DESCRIBED HEREIN.

     

    

     

    
      	
              Series:
                2007-WFHE2

               

            	
              Aggregate
                Certificate Principal Balance of the Class P Certificates as of the
                Issue
                Date: $100.00

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	
              Denomination:
                $100.00

               

            
	
              First
                Distribution Date: April 25, 2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              No.
                1

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	 	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            

    

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET
      BACKED PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting
      primarily of a pool of conventional one- to four-family, fixed-rate and
      adjustable-rate, first lien and second lien mortgage loans (the “Mortgage
      Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Citigroup Global Markets Realty Corp. is the registered owner
      of
      a Percentage Interest (obtained by dividing the denomination of this Certificate
      by the aggregate Certificate Principal Balance of the Class P Certificates
      as of
      the Issue Date) in that certain beneficial ownership interest evidenced by
      all
      the Class P Certificates in REMIC II created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer and the Trustee, a summary
      of certain of the pertinent provisions of which is set forth hereafter. To
      the
      extent not defined herein, the capitalized terms used herein have the meanings
      assigned in the Agreement. This Certificate is issued under and is subject
      to
      the terms, provisions and conditions of the Agreement, to which Agreement the
      Holder of this Certificate by virtue of the acceptance hereof assents and by
      which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class P Certificates
      on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing the Percentage
      Interest specified above in the Class of Certificates to which the Certificate
      belongs.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator and the Trustee and the rights of the
      Certificateholders under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the Trust
      Administrator shall require receipt of (i) if such transfer is purportedly
      being
      made in reliance upon Rule 144A under the 1933 Act, written certifications
      from
      the Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit F-1, and (ii) in all other cases, an Opinion of Counsel
      satisfactory to it that such transfer may be made without such registration
      or
      qualification (which Opinion of Counsel shall not be an expense of the Trust
      Fund or of the Depositor, the Trustee, the Trust Administrator or the Servicer
      in their respective capacities as such), together with copies of the written
      certification(s) of the Holder of the Certificate desiring to effect the
      transfer and/or such Holder’s prospective transferee upon which such Opinion of
      Counsel is based. None of the Depositor or the Trust Administrator is obligated
      to register or qualify the Class of Certificates specified on the face hereof
      under the 1933 Act or any other securities law or to take any action not
      otherwise required under the Agreement to permit the transfer of such
      Certificates without registration or qualification. Any Holder desiring to
      effect a transfer of this Certificate shall be required to indemnify the
      Trustee, the Trust Administrator, the Depositor, the Servicer and any
      Sub-Servicer against any liability that may result if the transfer is not so
      exempt or is not made in accordance with such federal and state
      laws.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or Section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any Person using “Plan Assets” to acquire this Certificate shall be made except
      in accordance with Section 5.02(b) of the Agreement.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan and REO Property
      remaining in REMIC I and (ii) the purchase by the party designated in the
      Agreement at a price determined as provided in the Agreement from REMIC I of
      all
      the Mortgage Loans and all property acquired in respect of such Mortgage Loans.
      The Agreement permits, but does not require, the party designated in the
      Agreement to purchase from REMIC I all the Mortgage Loans and all property
      acquired in respect of any Mortgage Loan at a price determined as provided
      in
      the Agreement. The exercise of such right will effect early retirement of the
      Certificates; however, such right to purchase is subject to the aggregate Stated
      Principal Balance of the Mortgage Loans at the time of purchase being less
      than
      10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
      Cut-off Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor and
      the
      Trustee assumes no responsibility for their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-17

     

    FORM
      OF
      CLASS R CERTIFICATE

     

    THIS
      CERTIFICATE MAY NOT BE TRANSFERRED TO A NON-UNITED STATES PERSON.

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (“REMIC”), AS THOSE TERMS ARE
      DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE
      OF
      1986, AS AMENDED (THE “CODE”).

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IN
      ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO
      HEREIN.

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD
      OR
      TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR IS SOLD
      OR
      TRANSFERRED IN TRANSACTIONS THAT ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT
      AND
      UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH THE PROVISIONS
      OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT (EACH A “PLAN”) SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
      ACT OF 1974, AS AMENDED (“ERISA”), OR THE CODE WILL BE REGISTERED EXCEPT IN
      COMPLIANCE WITH THE PROCEDURES DESCRIBED HEREIN.

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IF
      THE PROPOSED TRANSFEREE PROVIDES (I) AN AFFIDAVIT TO THE TRUSTEE THAT (A) SUCH
      TRANSFEREE IS NOT (1) THE UNITED STATES OR ANY POSSESSION THEREOF, ANY STATE
      OR
      POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL
      ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (2)
      ANY
      ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE)
      THAT IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH
      ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (3)
      ANY
      ORGANIZATION DESCRIBED IN SECTION 1381(A)(2)(C) OF THE CODE (ANY SUCH PERSON
      DESCRIBED IN THE FOREGOING CLAUSES (1), (2) OR (3) SHALL HEREINAFTER BE REFERRED
      TO AS A “DISQUALIFIED ORGANIZATION”) OR (4) AN AGENT OF A DISQUALIFIED
      ORGANIZATION AND (B) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT
      OR
      COLLECTION OF TAX, AND (II) SUCH TRANSFEREE SATISFIES CERTAIN ADDITIONAL
      CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE.
      NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER,
      SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED ORGANIZATION
      OR
      AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED
      TO BE
      OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED
      TO BE
      A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO,
      THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THIS
      CERTIFICATE BY ACCEPTANCE HEREOF SHALL BE DEEMED TO HAVE CONSENTED TO THE
      PROVISIONS OF THIS PARAGRAPH AND THE PROVISIONS OF SECTION 5.02(D) OF THE
      AGREEMENT REFERRED TO HEREIN. ANY PERSON THAT IS A DISQUALIFIED ORGANIZATION
      IS
      PROHIBITED FROM ACQUIRING BENEFICIAL OWNERSHIP OF THIS CERTIFICATE.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Percentage Interest of the Class R Certificates as of the Issue Date:
                100%

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	 
	
              First
                Distribution Date: April 25, 2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              No.
                1

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	 	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a portion of a Trust Fund (the “Trust Fund”)
      consisting primarily of a pool of conventional one- to four-family, fixed-rate,
      first lien mortgage loans (the “Mortgage Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Citigroup Global Markets Inc. is the registered owner of a
      Percentage Interest (obtained by dividing the denomination of this Certificate
      by the aggregate Certificate Principal Balance of the Class R Certificates
      as of
      the Issue Date) in that certain beneficial ownership interest evidenced by
      all
      the Class R Certificates created pursuant to a Pooling and Servicing Agreement,
      dated as specified above (the “Agreement”), among Citigroup Mortgage Loan Trust
      Inc. (hereinafter called the “Depositor,” which term includes any successor
      entity under the Agreement), the Servicer, the Trust Administrator and the
      Trustee, a summary of certain of the pertinent provisions of which is set forth
      hereafter. To the extent not defined herein, the capitalized terms used herein
      have the meanings assigned in the Agreement. This Certificate is issued under
      and is subject to the terms, provisions and conditions of the Agreement, to
      which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class R Certificates
      on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing a Percentage Interest
      in the Class of Certificates equal to the denomination specified on the face
      hereof divided by the aggregate Certificate Principal Balance of the Class
      of
      Certificates specified on the face hereof.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator, the Trustee, and the rights of the
      Certificateholders under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    Any
      resale, transfer or other disposition of this certificate may be made only
      in
      accordance with the provisions of section 5.02 of the agreement referred to
      herein.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the Trust
      Administrator shall require receipt of (i) if such transfer is purportedly
      being
      made in reliance upon Rule 144A under the 1933 Act, written certifications
      from
      the Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit F-1, and (ii) in all other cases, an Opinion of Counsel
      satisfactory to it that such transfer may be made without such registration
      or
      qualification (which Opinion of Counsel shall not be an expense of the Trust
      Fund or of the Depositor, the Trustee, the Trust Administrator or the Servicer
      in their respective capacities as such), together with copies of the written
      certification(s) of the Holder of the Certificate desiring to effect the
      transfer and/or such Holder’s prospective transferee upon which such Opinion of
      Counsel is based. None of the Depositor or the Trust Administrator is obligated
      to register or qualify the Class of Certificates specified on the face hereof
      under the 1933 Act or any other securities law or to take any action not
      otherwise required under the Agreement to permit the transfer of such
      Certificates without registration or qualification. Any Holder desiring to
      effect a transfer of this Certificate shall be required to indemnify the
      Trustee, the Trust Administrator, the Depositor, the Servicer and any
      Sub-Servicer against any liability that may result if the transfer is not so
      exempt or is not made in accordance with such federal and state
      laws.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or Section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any person using Plan Assets to acquire this Certificate shall be made except
      in
      accordance with Section 5.02(b) of the Agreement.

     

    Prior
      to
      registration of any transfer, sale or other disposition of this Certificate,
      the
      proposed transferee shall provide to the Trust Administrator (i) an affidavit
      to
      the effect that such transferee is any Person other than a Disqualified
      Organization or the agent (including a broker, nominee or middleman) of a
      Disqualified Organization, and (ii) a certificate that acknowledges that (A)
      the
      Class R Certificates have been designated as a residual interest in REMIC I
      and
      REMIC II, (B) it will include in its income a pro rata share of the net income
      of the Trust Fund and that such income may be an “excess inclusion,” as defined
      in the Code, that, with certain exceptions, cannot be offset by other losses
      or
      benefits from any tax exemption, and (C) it expects to have the financial means
      to satisfy all of its tax obligations including those relating to holding the
      Class R Certificates. Notwithstanding the registration in the Certificate
      Register of any transfer, sale or other disposition of this Certificate to
      a
      Disqualified Organization or an agent (including a broker, nominee or middleman)
      of a Disqualified Organization, such registration shall be deemed to be of
      no
      legal force or effect whatsoever and such Person shall not be deemed to be
      a
      Certificateholder for any purpose, including, but not limited to, the receipt
      of
      distributions in respect of this Certificate.

     

    The
      Holder of this Certificate, by its acceptance hereof, shall be deemed to have
      consented to the provisions of Section 5.02 of the Agreement and to any
      amendment of the Agreement deemed necessary by counsel of the Depositor to
      ensure that the transfer of this Certificate to any Person other than a
      Permitted Transferee or any other Person will not cause the Trust Fund to cease
      to qualify as a REMIC or cause the imposition of a tax upon REMIC I or REMIC
      II.

     

    No
      service charge will be made for any such registration of transfer or exchange
      of
      Certificates, but the Trust Administrator may require payment of a sum
      sufficient to cover any tax or other governmental charge that may be imposed
      in
      connection with any transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the purchase by the holders of the Class CE
      Certificates or the Servicer of all Mortgage Loans and related REO Property
      remaining in REMIC I, (ii) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan or REO Property
      remaining in REMIC I. The Agreement permits, but does not require, the party
      designated in the Agreement to purchase from REMIC I all the Mortgage Loans
      and
      all property acquired in respect of any Mortgage Loan at a price determined
      as
      provided in the Agreement. The exercise of such right will effect early
      retirement of the Certificates; however, such right to purchase is subject
      to
      the aggregate Stated Principal Balance of the Mortgage Loans at the time of
      purchase being less than 10% of the aggregate principal balance of the Mortgage
      Loans as of the Cut-off Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      none of the Trustee, Servicer or Trust Administrator assume responsibility
      for
      their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      A-18

     

    FORM
      OF
      CLASS R-X CERTIFICATE

     

    THIS
      CERTIFICATE MAY NOT BE TRANSFERRED TO A NON-UNITED STATES PERSON.

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” (“REMIC”), AS THOSE TERMS ARE
      DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE
      OF
      1986, AS AMENDED (THE “CODE”).

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IN
      ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO
      HEREIN.

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD
      OR
      TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR IS SOLD
      OR
      TRANSFERRED IN TRANSACTIONS THAT ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT
      AND
      UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH THE PROVISIONS
      OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

     

    NO
      TRANSFER OF THIS CERTIFICATE TO AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
      ARRANGEMENT (EACH A “PLAN”) SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
      ACT OF 1974, AS AMENDED (“ERISA”), OR THE CODE WILL BE REGISTERED EXCEPT IN
      COMPLIANCE WITH THE PROCEDURES DESCRIBED HEREIN.

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IF
      THE PROPOSED TRANSFEREE PROVIDES (I) AN AFFIDAVIT TO THE TRUSTEE THAT (A) SUCH
      TRANSFEREE IS NOT (1) THE UNITED STATES OR ANY POSSESSION THEREOF, ANY STATE
      OR
      POLITICAL SUBDIVISION THEREOF, ANY FOREIGN GOVERNMENT, ANY INTERNATIONAL
      ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING, (2)
      ANY
      ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED IN SECTION 521 OF THE CODE)
      THAT IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH
      ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE, (3)
      ANY
      ORGANIZATION DESCRIBED IN SECTION 1381(A)(2)(C) OF THE CODE (ANY SUCH PERSON
      DESCRIBED IN THE FOREGOING CLAUSES (1), (2) OR (3) SHALL HEREINAFTER BE REFERRED
      TO AS A “DISQUALIFIED ORGANIZATION”) OR (4) AN AGENT OF A DISQUALIFIED
      ORGANIZATION AND (B) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT
      OR
      COLLECTION OF TAX, AND (II) SUCH TRANSFEREE SATISFIES CERTAIN ADDITIONAL
      CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE.
      NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OF ANY TRANSFER,
      SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED ORGANIZATION
      OR
      AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED
      TO BE
      OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED
      TO BE
      A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO,
      THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THIS
      CERTIFICATE BY ACCEPTANCE HEREOF SHALL BE DEEMED TO HAVE CONSENTED TO THE
      PROVISIONS OF THIS PARAGRAPH AND THE PROVISIONS OF SECTION 5.02(D) OF THE
      AGREEMENT REFERRED TO HEREIN. ANY PERSON THAT IS A DISQUALIFIED ORGANIZATION
      IS
      PROHIBITED FROM ACQUIRING BENEFICIAL OWNERSHIP OF THIS CERTIFICATE.

     

    
      	
              Series
                2007-WFHE2

               

            	
              Aggregate
                Percentage Interest of the Class R-X Certificates as of the Issue
                Date:
                100%

               

            
	
              Cut-off
                Date and date of Pooling and Servicing Agreement: March 1,
                2007

               

            	 
	
              First
                Distribution Date: April 25, 2007

               

            	
              Servicer:
                Wells Fargo Bank, N.A.

               

            
	
              No.
                1

               

            	
              Trust
                Administrator: Citibank, N.A.

               

            
	 	
              Trustee:
                U.S. Bank National Association

               

            
	 	
              Issue
                Date: April 10, 2007

               

            

    

    DISTRIBUTIONS
      IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
      MADE MONTHLY AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE
      PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE
      AS
      THE DENOMINATION OF THIS CERTIFICATE.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ASSET-BACKED
      PASS-THROUGH CERTIFICATE

     

    evidencing
      a beneficial ownership interest in a portion of a Trust Fund (the “Trust Fund”)
      consisting primarily of a pool of conventional one- to four-family, fixed-rate,
      first lien mortgage loans (the “Mortgage Loans”) formed and sold by

     

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

     

    THIS
      CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CITIGROUP
      MORTGAGE LOAN TRUST INC., THE SERVICER, THE TRUST ADMINISTRATOR, THE TRUSTEE
      OR
      ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
      MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED
      STATES.

     

    This
      certifies that Citigroup Global Markets Inc. is the registered owner of a
      Percentage Interest (obtained by dividing the denomination of this Certificate
      by the aggregate Certificate Principal Balance of the Class R-X Certificates
      as
      of the Issue Date) in that certain beneficial ownership interest evidenced
      by
      all the Class R-X Certificates created pursuant to a Pooling and Servicing
      Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage
      Loan Trust Inc. (hereinafter called the “Depositor,” which term includes any
      successor entity under the Agreement), the Servicer, the Trust Administrator
      and
      the Trustee, a summary of certain of the pertinent provisions of which is set
      forth hereafter. To the extent not defined herein, the capitalized terms used
      herein have the meanings assigned in the Agreement. This Certificate is issued
      under and is subject to the terms, provisions and conditions of the Agreement,
      to which Agreement the Holder of this Certificate by virtue of the acceptance
      hereof assents and by which such Holder is bound.

     

    Pursuant
      to the terms of the Agreement, distributions will be made on the 25th
      day of
      each month or, if such 25th
      day is
      not a Business Day, the Business Day immediately following (a “Distribution
      Date”), commencing on the First Distribution Date specified above, to the Person
      in whose name this Certificate is registered on the Record Date, in an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amount required to be distributed to the Holders of Class R-X
      Certificates on such Distribution Date pursuant to the Agreement.

     

    All
      distributions to the Holder of this Certificate under the Agreement will be
      made
      or caused to be made by the Trust Administrator by wire transfer in immediately
      available funds to the account of the Person entitled thereto if such Person
      shall have so notified the Trust Administrator in writing at least five Business
      Days prior to the Record Date immediately prior to such Distribution Date or
      otherwise by check mailed by first class mail to the address of the Person
      entitled thereto, as such name and address shall appear on the Certificate
      Register. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Trust Administrator of the pendency of
      such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Trust Administrator for that purpose as
      provided in the Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      Asset-Backed Pass-Through Certificates of the Series specified on the face
      hereof (herein called the “Certificates”) and representing a Percentage Interest
      in the Class of Certificates equal to the denomination specified on the face
      hereof divided by the aggregate Certificate Principal Balance of the Class
      of
      Certificates specified on the face hereof.

     

    The
      Certificates are limited in right of payment to certain collections and
      recoveries respecting the Mortgage Loans, all as more specifically set forth
      herein and in the Agreement. As provided in the Agreement, withdrawals from
      the
      Collection Account and the Distribution Account may be made from time to time
      for purposes other than distributions to Certificateholders, such purposes
      including reimbursement of advances made, or certain expenses incurred, with
      respect to the Mortgage Loans.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Servicer, the Trust Administrator, the Trustee, and the rights of the
      Certificateholders under the Agreement at any time by the Depositor, the
      Servicer, the Trust Administrator and the Trustee with the consent of the
      Holders of Certificates entitled to at least 66% of the Voting Rights. Any
      such
      consent by the Holder of this Certificate shall be conclusive and binding on
      such Holder and upon all future Holders of this Certificate and of any
      Certificate issued upon the transfer hereof or in exchange herefor or in lieu
      hereof whether or not notation of such consent is made upon this Certificate.
      The Agreement also permits the amendment thereof, in certain limited
      circumstances, without the consent of the Holders of any of the
      Certificates.

     

    Any
      resale, transfer or other disposition of this certificate may be made only
      in
      accordance with the provisions of section 5.02 of the agreement referred to
      herein.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable in the Certificate Register
      upon
      surrender of this Certificate for registration of transfer at the offices or
      agencies appointed by the Trust Administrator as provided in the Agreement,
      duly
      endorsed by, or accompanied by an assignment in the form below or other written
      instrument of transfer in form satisfactory to the Trust Administrator duly
      executed by, the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates of the same Class in
      authorized denominations evidencing the same aggregate Percentage Interest
      will
      be issued to the designated transferee or transferees.

     

    The
      Certificates are issuable in fully registered form only without coupons in
      Classes and denominations representing Percentage Interests specified in the
      Agreement. As provided in the Agreement and subject to certain limitations
      therein set forth, the Certificates are exchangeable for new Certificates of
      the
      same Class in authorized denominations evidencing the same aggregate Percentage
      Interest, as requested by the Holder surrendering the same. No service charge
      will be made for any such registration of transfer or exchange of Certificates,
      but the Trust Administrator may require payment of a sum sufficient to cover
      any
      tax or other governmental charge that may be imposed in connection with any
      transfer or exchange of Certificates.

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the Trust
      Administrator shall require receipt of (i) if such transfer is purportedly
      being
      made in reliance upon Rule 144A under the 1933 Act, written certifications
      from
      the Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit F-1, and (ii) in all other cases, an Opinion of Counsel
      satisfactory to it that such transfer may be made without such registration
      or
      qualification (which Opinion of Counsel shall not be an expense of the Trust
      Fund or of the Depositor, the Trustee, the Trust Administrator or the Servicer
      in their respective capacities as such), together with copies of the written
      certification(s) of the Holder of the Certificate desiring to effect the
      transfer and/or such Holder’s prospective transferee upon which such Opinion of
      Counsel is based. None of the Depositor or the Trust Administrator is obligated
      to register or qualify the Class of Certificates specified on the face hereof
      under the 1933 Act or any other securities law or to take any action not
      otherwise required under the Agreement to permit the transfer of such
      Certificates without registration or qualification. Any Holder desiring to
      effect a transfer of this Certificate shall be required to indemnify the
      Trustee, the Trust Administrator, the Depositor, the Servicer and any
      Sub-Servicer against any liability that may result if the transfer is not so
      exempt or is not made in accordance with such federal and state
      laws.

     

    No
      transfer of this Certificate to a Plan subject to ERISA or Section 4975 of
      the
      Code, any Person acting, directly or indirectly, on behalf of any such Plan
      or
      any person using Plan Assets to acquire this Certificate shall be made except
      in
      accordance with Section 5.02(b) of the Agreement.

     

    Prior
      to
      registration of any transfer, sale or other disposition of this Certificate,
      the
      proposed transferee shall provide to the Trust Administrator (i) an affidavit
      to
      the effect that such transferee is any Person other than a Disqualified
      Organization or the agent (including a broker, nominee or middleman) of a
      Disqualified Organization, and (ii) a certificate that acknowledges that (A)
      the
      Class R-X Certificates have been designated as a residual interest in REMIC
      I
      and REMIC II, (B) it will include in its income a pro rata share of the net
      income of the Trust Fund and that such income may be an “excess inclusion,” as
      defined in the Code, that, with certain exceptions, cannot be offset by other
      losses or benefits from any tax exemption, and (C) it expects to have the
      financial means to satisfy all of its tax obligations including those relating
      to holding the Class R-X Certificates. Notwithstanding the registration in
      the
      Certificate Register of any transfer, sale or other disposition of this
      Certificate to a Disqualified Organization or an agent (including a broker,
      nominee or middleman) of a Disqualified Organization, such registration shall
      be
      deemed to be of no legal force or effect whatsoever and such Person shall not
      be
      deemed to be a Certificateholder for any purpose, including, but not limited
      to,
      the receipt of distributions in respect of this Certificate.

     

    The
      Holder of this Certificate, by its acceptance hereof, shall be deemed to have
      consented to the provisions of Section 5.02 of the Agreement and to any
      amendment of the Agreement deemed necessary by counsel of the Depositor to
      ensure that the transfer of this Certificate to any Person other than a
      Permitted Transferee or any other Person will not cause the Trust Fund to cease
      to qualify as a REMIC or cause the imposition of a tax upon REMIC I or REMIC
      II.

     

    No
      service charge will be made for any such registration of transfer or exchange
      of
      Certificates, but the Trust Administrator may require payment of a sum
      sufficient to cover any tax or other governmental charge that may be imposed
      in
      connection with any transfer or exchange of Certificates.

     

    The
      Depositor, the Servicer, the Trust Administrator, the Trustee and any agent
      of
      the Depositor, the Servicer, the Trust Administrator or the Trustee may treat
      the Person in whose name this Certificate is registered as the owner hereof
      for
      all purposes, and none of the Depositor, the Servicer, the Trust Administrator,
      the Trustee nor any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby shall
      terminate upon payment to the Certificateholders of all amounts held by the
      Trust Administrator and required to be paid to them pursuant to the Agreement
      following the earlier of (i) the purchase by the holders of the Class CE
      Certificates or the Servicer of all Mortgage Loans and related REO Property
      remaining in REMIC I, (ii) the final payment or other liquidation (or any
      advance with respect thereto) of the last Mortgage Loan or REO Property
      remaining in REMIC I. The Agreement permits, but does not require, the party
      designated in the Agreement to purchase from REMIC I all the Mortgage Loans
      and
      all property acquired in respect of any Mortgage Loan at a price determined
      as
      provided in the Agreement. The exercise of such right will effect early
      retirement of the Certificates; however, such right to purchase is subject
      to
      the aggregate Stated Principal Balance of the Mortgage Loans at the time of
      purchase being less than 10% of the aggregate principal balance of the Mortgage
      Loans as of the Cut-off Date.

     

    The
      recitals contained herein shall be taken as statements of the Depositor, and
      none of the Trustee, Servicer or Trust Administrator assume responsibility
      for
      their correctness.

     

    Unless
      the certificate of authentication hereon has been executed by the Trust
      Administrator, by manual signature, this Certificate shall not be entitled
      to
      any benefit under the Agreement or be valid for any purpose.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      IN
        WITNESS WHEREOF, the Trust Administrator has caused this Certificate to be
        duly
        executed.

      
        

        
          
            

              
                	
                        Dated:
                          April ___, 2007

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized
                          Officer 

                      

              

            

          

          

            
CERTIFICATE
              OF AUTHENTICATION

             

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

          
            

              
                	
                         

                      	 	
                        Citibank,
                          N.A., as Trust Administrator

                         

                      
	 	
                        By:

                      	
                         

                      
	 	 	
                         Authorized Signatory 

                      

              

            

          

        

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, shall be construed as though they were written out in full according
        to applicable laws or regulations:

       

      
        	
                TEN
                  COM - as tenants in common

                 

              	
                UNIF
                  GIFT MIN ACT - Custodian

                 

              
	
                TEN
                  ENT - as tenants by the entireties

                 

              	
                (Cust)
                  (Minor) under Uniform
                  Gifts to Minors Act

                 

              
	
                JT
                  TEN - as joint tenants with right if
                  survivorship and not as tenants
                  in common

                 

              	
                 

                _______________

                         
                  (State)

                 

              

      

      

      Additional
        abbreviations may also be used though not in the above list.

       

      ASSIGNMENT

       

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

      
        	 
	 

      

      (Please
        print or typewrite name, address including postal zip code, and Taxpayer
        Identification Number of assignee) a Percentage Interest equal to ____%
        evidenced by the within Asset-Backed Pass-Through Certificates and hereby
        authorize(s) the registration of transfer of such interest to assignee on
        the
        Certificate Register of the Trust Fund.

       

      I
        (we)
        further direct the Trustee to issue a new Certificate of a like Percentage
        Interest and Class to the above named assignee and deliver such Certificate
        to
        the following address: 

      
        	 
	 	
                .

              

      

      

      
        	
                Dated:

              	 
	 	
                Signature
                  by or on behalf of assignor

              
	 	 
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      
        
           

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      
        
          	
                  Distributions
                    shall be made, by wire transfer or otherwise, in immediately
                    available
                    funds

                
	
                  to

                	 	
                  ,

                
	
                  for
                    the account of

                	 	
                  ,

                
	
                  account
                    number___________, or, if mailed by check, to

                	 	
                  ,

                
	
                  Applicable
                    statements should be mailed to

                	 	
                  ,

                
	 	
                  .

                
	 	 
	
                  This
                    information is provided by

                	 	
                  ,

                
	
                  the
                    assignee named above, or

                	 	
                  ,

                
	
                  as
                    its agent.

                	 	 

        

      

      

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      B

     

    FORM
      10-D, FORM 8-K AND FORM 10-K

    REPORTING
      RESPONSIBILITY

    

    As
      to
      each item described below, the entity indicated as the Responsible Party shall
      be primarily responsible for reporting the information to the Trust
      Administrator pursuant to Section 4.07(a)(iv). If the Trust Administrator is
      indicated below as to any item, then the Trust Administrator is primarily
      responsible for obtaining that information. 

    

    Under
      Item 1 of Form 10-D: a) items marked “4.02 statement” are required to be
      included in the periodic Distribution Date statement under Section 4.02,
      provided by the Trust Administrator based on information received from the
      Servicer; and b) items marked “Form 10-D report” are required to be in the Form
      10-D report but not the 4.02 statement, provided by the party indicated.
      Information under all other Items of Form 10-D is to be included in the Form
      10-D report.

     

    
      

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Responsible
                    Party

                

        

      

      
        
          
            	
                    10-D

                     

                  	
                    Must
                      be filed within 15 days of the Distribution
                      Date.

                  

          

        

      

    

    
      
        
          	 	
                  1

                	
                  Distribution
                    and Pool Performance Information

                   

                	 
	 	 	
                  Item
                    1121(a) - Distribution and Pool Performance Information

                   

                	 
	 	 	
                  (1)
                    Any applicable record dates, accrual dates, determination dates
                    for
                    calculating distributions and actual distribution dates for the
                    distribution period.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (2)
                    Cash flows received and the sources thereof for distributions,
                    fees and
                    expenses.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (3)
                    Calculated amounts and distribution of the flow of funds for
                    the period
                    itemized by type and priority of payment, including:

                   

                	
                  4.02
                    statement

                
	 	 	
                  (i)
                    Fees or expenses accrued and paid, with an identification of
                    the general
                    purpose of such fees and the party receiving such fees or
                    expenses.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (ii)
                    Payments accrued or paid with respect to enhancement or other
                    support
                    identified in Item 1114 of Regulation AB (such as insurance premiums
                    or
                    other enhancement maintenance fees), with an identification of
                    the general
                    purpose of such payments and the party receiving such
                    payments.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (iii)
                    Principal, interest and other distributions accrued and paid
                    on the
                    asset-backed securities by type and by class or series and any
                    principal
                    or interest shortfalls or carryovers.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (iv)
                    The amount of excess cash flow or excess spread and the disposition
                    of
                    excess cash flow.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (4)
                    Beginning and ending principal balances of the asset-backed
                    securities.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (5)
                    Interest rates applicable to the pool assets and the asset-backed
                    securities, as applicable. Consider providing interest rate information
                    for pool assets in appropriate distributional groups or incremental
                    ranges.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (6)
                    Beginning and ending balances of transaction accounts, such as
                    reserve
                    accounts, and material account activity during the period.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (7)
                    Any amounts drawn on any credit enhancement or other support
                    identified in
                    Item 1114 of Regulation AB, as applicable, and the amount of
                    coverage
                    remaining under any such enhancement, if known and
                    applicable.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (8)
                    Number and amount of pool assets at the beginning and ending
                    of each
                    period, and updated pool composition information, such as weighted
                    average
                    coupon, weighted average life, weighted average remaining term,
                    pool
                    factors and prepayment amounts.

                   

                	
                  4.02
                    statement

                   

                  Updated
                    pool composition information fields to be as specified by Depositor
                    from
                    time to time

                
	 	 	
                  (9)
                    Delinquency and loss information for the period. 

                   

                  In
                    addition, describe any material changes to the information specified
                    in
                    Item 1100(b)(5) of Regulation AB regarding the pool assets.

                   

                	
                  4.02
                    statement.

                   

                  Form
                    10-D report: Depositor

                
	 	 	
                  (10)
                    Information on the amount, terms and general purpose of any advances
                    made
                    or reimbursed during the period, including the general use of
                    funds
                    advanced and the general source of funds for reimbursements.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (11)
                    Any material modifications, extensions or waivers to pool asset
                    terms,
                    fees, penalties or payments during the distribution period or
                    that have
                    cumulatively become material over time.

                   

                	
                  Form
                    10-D report: Trust Administrator (to
                    the extent of the Trust Administrator’s actual
                    knowledge)

                
	 	 	
                  (12)
                    Material breaches of pool asset representations or warranties
                    or
                    transaction covenants.

                   

                	
                  Form
                    10-D report 

                
	 	 	
                  (13)
                    Information on ratio, coverage or other tests used for determining
                    any
                    early amortization, liquidation or other performance trigger
                    and whether
                    the trigger was met.

                   

                	
                  4.02
                    statement

                
	 	 	
                  (14)
                    Information regarding any new issuance of asset-backed securities
                    backed
                    by the same asset pool, 

                   

                  [information
                    regarding] any pool asset changes (other than in connection with
                    a pool
                    asset converting into cash in accordance with its terms), such
                    as
                    additions or removals in connection with a prefunding or revolving
                    period
                    and pool asset substitutions and repurchases (and purchase rates,
                    if
                    applicable), and cash flows available for future purchases, such
                    as the
                    balances of any prefunding or revolving accounts, if
                    applicable.

                   

                  Disclose
                    any material changes in the solicitation, credit-granting, underwriting,
                    origination, acquisition or pool selection criteria or procedures,
                    as
                    applicable, used to originate, acquire or select the new pool
                    assets.

                   

                	
                  Form
                    10-D report: Depositor

                   

                   

                  Form
                    10-D report: Depositor

                   

                   

                   

                   

                   

                  Form
                    10-D report: Depositor

                
	 	 	
                  Item
                    1121(b) - Pre-Funding or Revolving Period Information

                  Updated
                    pool information as required under Item 1121(b).

                   

                	
                  Depositor

                
	 	
                  2

                	
                  Legal
                    Proceedings

                   

                	 
	 	 	
                  Item
                    1117 - Legal proceedings pending against the following entities,
                    or their
                    respective property, that is material to Certificateholders,
                    including
                    proceedings known to be contemplated by governmental
                    authorities:

                   

                  Seller

                   

                  Depositor

                   

                  Trustee

                   

                  Trust
                    Administrator

                   

                  Issuing
                    entity

                   

                  Servicer

                   

                  Originator
                    

                   

                  Custodian

                	
                   

                   

                   

                  Seller

                   

                  Depositor

                   

                  Trustee

                   

                  Trust
                    Administrator

                   

                  Depositor

                   

                  Servicer

                   

                  Originator

                   

                  Custodian

                
	 	
                  3

                	
                  Sales
                    of Securities and Use of Proceeds

                   

                	 
	 	 	
                  Information
                    from Item 2(a) of Part II of Form 10-Q:

                   

                  With
                    respect to any sale of securities by the sponsor, depositor or
                    issuing
                    entity, that are backed by the same asset pool or are otherwise
                    issued by
                    the issuing entity, whether or not registered, provide the sales
                    and use
                    of proceeds information in Item 701 of Regulation S-K. Pricing
                    information
                    can be omitted if securities were not registered.

                   

                	
                   

                   

                   

                  Depositor

                
	 	
                  4

                	
                  Defaults
                    Upon Senior Securities

                   

                	 
	 	 	
                  Information
                    from Item 3 of Part II of Form 10-Q:

                  Report
                    the occurrence of any Event of Default (after expiration of any
                    grace
                    period and provision of any required notice)

                   

                	
                   

                   

                  N/A

                
	 	
                  5

                	
                  Submission
                    of Matters to a Vote of Security Holders

                   

                	 
	 	 	
                  Information
                    from Item 4 of Part II of Form 10-Q

                	
                  Depositor
                    or Trust Administrator (to
                    the extent of the Trust Administrator’s actual knowledge)

                   

                
	 	
                  6

                	
                  Significant
                    Obligors of Pool Assets

                   

                	 
	 	 	
                  Item
                    1112(b) - Significant
                    Obligor Financial Information*

                   

                	
                  Depositor

                
	 	 	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Item.

                   

                	 
	 	
                  7

                	
                  Significant
                    Enhancement Provider Information

                   

                	 
	 	 	
                  Item
                    1114(b)(2) - Credit Enhancement Provider Financial
                    Information*

                   

                  Determining
                    applicable disclosure threshold

                   

                  Obtaining
                    required financial information or effecting incorporation by
                    reference

                	
                   

                   

                  Depositor

                   

                  Depositor

                
	 	 	
                  Item
                    1115(b) - Derivative Counterparty Financial Information*

                   

                  Determining
                    current maximum probable exposure

                   

                  Determining
                    current significance percentage

                   

                  Obtaining
                    required financial information or effecting incorporation by
                    reference

                	
                   

                   

                  Depositor

                   

                  Trust
                    Administrator

                   

                  Depositor

                   

                
	 	 	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Items.

                   

                	 
	 	
                  8

                	
                  Other
                    Information

                   

                	 
	 	 	
                  Disclose
                    any information required to be reported on Form 8-K during the
                    period
                    covered by the Form 10-D but not reported

                   

                	
                  The
                    Responsible Party for the applicable Form 8-K item as indicated
                    below

                
	 	
                  9

                	
                  Exhibits

                   

                	 
	 	 	
                  Distribution
                    report

                   

                	
                  Trust
                    Administrator

                
	 	 	
                  Exhibits
                    required by Item 601 of Regulation S-K, such as material
                    agreements

                   

                	
                  Depositor

                

        

      

    

    
      
        
          	
                  10k

                   

                	
                  Must
                    be filed within four business days of an event reportable on
                    Form
                    8-K.

                   

                

        

      

    

    
      
        	 	1.01	
                Entry
                  into a Material Definitive Agreement

                 

              	 
	 	 	
                Disclosure
                  is required regarding entry into or amendment of any definitive
                  agreement
                  that is material to the securitization, even if depositor is not
                  a party.
                  

                 

                Examples:
                  servicing agreement, custodial agreement.

                 

                Note:
                  disclosure not required as to definitive agreements that are fully
                  disclosed in the prospectus

                 

              	
                Depositor

              
	 	1.02	
                Termination
                  of a Material Definitive Agreement

                 

              	 
	 	 	
                Disclosure
                  is required regarding termination of any definitive agreement that
                  is
                  material to the securitization (other than expiration in accordance
                  with
                  its terms), even if depositor is not a party. 

                 

                Examples:
                  servicing agreement, custodial agreement.

                 

              	
                Depositor

              
	 	1.03	
                Bankruptcy
                  or Receivership

                 

              	 
	 	 	
                Disclosure
                  is required regarding the bankruptcy or receivership with respect
                  to any
                  of the following: 

                 

                Sponsor
                  (Seller), Depositor, Servicer, Trust Administrator, Interest Rate
                  Cap
                  Provider, Custodian

              	
                Trust
                  Administrator (to the extent of the Trust Administrator’s actual
                  knowledge)

              
	 	2.04	
                Triggering
                  Events that Accelerate or Increase a Direct Financial Obligation
                  or an
                  Obligation under an Off-Balance Sheet Arrangement

                 

              	 
	 	 	
                Includes
                  an early amortization, performance trigger or other event, including
                  event
                  of default, that would materially alter the payment priority/distribution
                  of cash flows/amortization schedule.

                 

                Disclosure
                  will be made of events other than waterfall triggers which are
                  disclosed
                  in the 4.02 statement

                 

              	
                Trust
                  Administrator (to the extent of the Trust Administrator’s actual
                  knowledge)

              
	 	3.03 	
                Material
                  Modification to Rights of Security Holders

                 

              	 
	 	 	
                Disclosure
                  is required of any material modification to documents defining
                  the rights
                  of Certificateholders, including the Pooling and Servicing
                  Agreement

                 

              	
                Trust
                  Administrator

              
	 	5.03	
                Amendments
                  to Articles of Incorporation or Bylaws; Change in Fiscal
                  Year

                 

              	 
	 	 	
                Disclosure
                  is required of any amendment “to the governing documents of the issuing
                  entity”

                 

              	
                Depositor

              
	 	5.06	
                Change
                  in Shell Company Status

                 

              	 
	 	 	
                [Not
                  applicable to ABS issuers]

                 

              	
                Depositor

              
	 	6.01	
                ABS
                  Informational and Computational Material

                 

              	 
	 	 	
                [Not
                  included in reports to be filed under Section 4.07]

                 

              	
                Depositor

              
	 	6.02 	
                Change
                  of Servicer, Trustee or Trust Administrator

                 

              	 
	 	 	
                Requires
                  disclosure of any removal, replacement, substitution or addition
                  of any
                  master servicer, affiliated servicer, other servicer servicing
                  10% or more
                  of pool assets at time of report, other material servicers, trust
                  administrator or trustee. Reg AB disclosure about any new servicer,
                  trust
                  administrator or trustee is also required.

                 

              	
                Trust
                  Administrator or Servicer

              
	 	6.03	
                Change
                  in Credit Enhancement or Other External Support

                 

              	 
	 	 	
                Covers
                  termination of any enhancement in manner other than by its terms,
                  the
                  addition of an enhancement, or a material change in the enhancement
                  provided. Applies to external credit enhancements as well as derivatives.
                  Reg AB disclosure about any new enhancement provider is also
                  required.

                 

              	
                Depositor
                  

              
	 	6.04	
                Failure
                  to Make a Required Distribution

                 

              	
                Trust
                  Administrator

              
	 	6.05	
                Securities
                  Act Updating Disclosure

                 

              	 
	 	 	
                If
                  any material pool characteristic differs by 5% or more at the time
                  of
                  issuance of the securities from the description in the final prospectus,
                  provide updated Reg AB disclosure about the actual asset
                  pool.

                 

              	
                Depositor

              
	 	 	
                If
                  there are any new servicers or originators required to be disclosed
                  under
                  Regulation AB as a result of the foregoing, provide the information
                  called
                  for in Items 1108 and 1110 respectively.

                 

              	
                Depositor

              
	 	7.01	
                Regulation
                  FD Disclosure

                 

              	
                Depositor

              
	 	8.01	
                Other
                  Events

                 

              	 
	 	 	
                Any
                  event, with respect to which information is not otherwise called
                  for in
                  Form 8-K, that the registrant deems of importance to security
                  holders.

                 

              	
                Depositor

              
	 	9.01	
                Financial
                  Statements and Exhibits

                 

              	
                N/A

              

      

    

    
      
        	10-K	
                 Must
                  be filed within 90 days of the fiscal year end for the
                  registrant.

                 

              

      

    

    
      
        	 	9B	
                Other
                  Information

                 

              	 
	 	 	
                Disclose
                  any information required to be reported on Form 8-K during the
                  fourth
                  quarter covered by the Form 10-K but not reported

                 

              	
                Depositor

              
	 	15	
                Exhibits
                  and Financial Statement Schedules

                 

              	 
	 	 	
                Item
                  1112(b) - Significant
                  Obligor Financial Information

                 

              	
                N/A

              
	 	 	
                Item
                  1114(b)(2) - Credit Enhancement Provider Financial
                  Information

                 

                Determining
                  applicable disclosure threshold

                 

                Obtaining
                  required financial information or effecting incorporation by
                  reference

                 

              	
                 

                 

                 

                Depositor

                 

                Depositor

              
	 	 	
                Item
                  1115(b) - Derivative Counterparty Financial Information

                 

                Determining
                  current maximum probable exposure

                 

                Determining
                  current significance percentage

                 

                Obtaining
                  required financial information or effecting incorporation by
                  reference

                 

              	
                 

                 

                 

                Trust
                  Administrator

                 

                Trust
                  Administrator

                 

                Depositor

              
	 	 	 	 
	 	 	
                Item
                  1119 - Affiliations and relationships between the following entities,
                  or
                  their respective affiliates entered into outside the ordinary course
                  of
                  business or is on terms other than would be obtained in an arm’s length
                  transaction with an unrelated third party, apart from the asset-backed
                  securities transaction, that are material to
                  Certificateholders:

                 

                Seller

                 

                Depositor

                 

                Trustee

                 

                Trust
                  Administrator

                 

                Issuing
                  entity

                 

                Servicer

                 

                Originator
                  

                 

                Custodian
                  

                 

                Credit
                  Enhancer/Support Provider, if any

                 

                Significant
                  Obligor, if any

                 

              	
                 

                 

                 

                 

                 

                 

                Seller

                 

                Depositor

                 

                Trustee

                 

                Trust
                  Administrator

                 

                Issuing
                  entity

                 

                Servicer

                 

                Originator
                  

                 

                Custodian
                  

                 

                Depositor

                 

                Depositor

              
	 	 	
                Item
                  1122 - Assessment of Compliance with Servicing Criteria

                 

              	
                Each
                  Party participating in the servicing function

              
	 	 	
                Item
                  1123 - Servicer Compliance Statement

                 

              	
                Servicer

              

      

    

    
 

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      C

     

    SERVICING
      CRITERIA TO BE ADDRESSED

    IN
      ASSESSMENT OF COMPLIANCE

    

    Definitions

    Primary
      Servicer - transaction party having borrower contact

    Master
      Servicer - aggregator of pool assets

    Trust
      Administrator - waterfall calculator (may be the Trustee, or may be the Master
      Servicer)

    Back-up
      Servicer - named in the transaction (in the event a Back up Servicer becomes
      the
      Primary Servicer, follow Primary Servicer obligations)

    Custodian
      - safe keeper of pool assets

    Paying
      Agent - distributor of funds to ultimate investor (Trust Administrator performs
      this function)

    Trustee
      -
      fiduciary of the transaction

    

    Note:
      The
      definitions above describe the essential function that the party performs,
      rather than the party’s title. So, for example, in a particular transaction, the
      trustee may perform the “paying agent” and “trust administrator” functions,
      while in another transaction, the trust administrator may perform these
      functions.

    

    Where
      there are multiple checks for criteria the attesting party will identify in
      their management assertion that they are attesting only to the portion of the
      distribution chain they are responsible for in the related transaction
      agreements.

    

    Key:

    X
      -
      obligation

    

    

    
      	
              Reg
                AB Reference

            	
              Servicing
                Criteria

            	
              Primary
                Servicer

            	
              Master
                Servicer

            	
              Trust
                Administrator

               

            
	 	
              General
                Servicing Considerations

               

            	 	 	 
	
              1122(d)(1)(i)

            	
              Policies
                and procedures are instituted to monitor any performance or other
                triggers
                and events of default in accordance with the transaction
                agreements.

               

            	
              X

            	
              X

            	 
	
              1122(d)(1)(ii)

            	
              If
                any material servicing activities are outsourced to third parties,
                policies and procedures are instituted to monitor the third party’s
                performance and compliance with such servicing activities. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(1)(iii)

            	
              Any
                requirements in the transaction agreements to maintain a back-up
                servicer
                for the Pool Assets are maintained. 

               

            	 	 	 
	
              1122(d)(1)(iv)

            	
              A
                fidelity bond and errors and omissions policy is in effect on the
                party
                participating in the servicing function throughout the reporting
                period in
                the amount of coverage required by and otherwise in accordance with
                the
                terms of the transaction agreements. 

               

            	
              X

            	
              X

            	 
	 	
              Cash
                Collection and Administration

               

            	 	 	 
	
              1122(d)(2)(i)

            	
              Payments
                on pool assets are deposited into the appropriate custodial bank
                accounts
                and related bank clearing accounts no more than two business days
                following receipt, or such other number of days specified in the
                transaction agreements. 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(2)(ii)

            	
              Disbursements
                made via wire transfer on behalf of an obligor or to an investor
                are made
                only by authorized personnel. 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(2)(iii)

            	
              Advances
                of funds or guarantees regarding collections, cash flows or distributions,
                and any interest or other fees charged for such advances, are made,
                reviewed and approved as specified in the transaction agreements.
                

               

            	
              X

            	
              X

            	 
	
              1122(d)(2)(iv)

            	
              The
                related accounts for the transaction, such as cash reserve accounts
                or
                accounts established as a form of over collateralization, are separately
                maintained (e.g., with respect to commingling of cash) as set forth
                in the
                transaction agreements. 

               

            	 	 	
              X

            
	
              1122(d)(2)(v)

            	
              Each
                custodial account is maintained at a federally insured depository
                institution as set forth in the transaction agreements. For purposes
                of
                this criterion, “federally insured depository institution” with respect to
                a foreign financial institution means a foreign financial institution
                that
                meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                Act.
                * 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(2)(vi)

            	
              Unissued
                checks are safeguarded so as to prevent unauthorized access. 

               

            	
              X

            	 	 
	
              1122(d)(2)(vii)
                

            	
              Reconciliations
                are prepared on a monthly basis for all asset-backed securities related
                bank accounts, including custodial accounts and related bank clearing
                accounts. These reconciliations are (A) mathematically accurate;
                (B)
                prepared within 30 calendar days after the bank statement cutoff
                date, or
                such other number of days specified in the transaction agreements;
                (C)
                reviewed and approved by someone other than the person who prepared
                the
                reconciliation; and (D) contain explanations for reconciling items.
                These
                reconciling items are resolved within 90 calendar days of their original
                identification, or such other number of days specified in the transaction
                agreements. 

               

            	
              X

            	
              X

            	
              X

            
	 	
              Investor
                Remittances and Reporting

               

            	 	 	 
	
              1122(d)(3)(i)

            	
              Reports
                to investors, including those to be filed with the Commission, are
                maintained in accordance with the transaction agreements and applicable
                Commission requirements. Specifically, such reports (A) are prepared
                in
                accordance with timeframes and other terms set forth in the transaction
                agreements; (B) provide information calculated in accordance with
                the
                terms specified in the transaction agreements; (C) are filed with
                the
                Commission as required by its rules and regulations; and (D) agree
                with
                investors’ or the trustee’s records as to the total unpaid principal
                balance and number of Pool Assets serviced by the Servicer. 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(3)(ii)

            	
              Amounts
                due to investors are allocated and remitted in accordance with timeframes,
                distribution priority and other terms set forth in the transaction
                agreements. 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(3)(iii)

            	
              Disbursements
                made to an investor are posted within two business days to the Servicer’s
                investor records, or such other number of days specified in the
                transaction agreements. 

               

            	
              X

            	
              X

            	
              X

            
	
              1122(d)(3)(iv)

            	
              Amounts
                remitted to investors per the investor reports agree with cancelled
                checks, or other form of payment, or custodial bank statements.
                

               

            	
              X

            	
              X

            	
              X

            
	 	
              Pool
                Asset Administration

               

            	 	 	 
	
              1122(d)(4)(i)
                

            	
              Collateral
                or security on pool assets is maintained as required by the transaction
                agreements or related pool asset documents. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(ii)

            	
              Pool
                assets and related documents are safeguarded as required by the
                transaction agreements 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(iii)

            	
              Any
                additions, removals or substitutions to the asset pool are made,
                reviewed
                and approved in accordance with any conditions or requirements in
                the
                transaction agreements. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(iv)

            	
              Payments
                on pool assets, including any payoffs, made in accordance with the
                related
                pool asset documents are posted to the Servicer’s obligor records
                maintained no more than two business days after receipt, or such
                other
                number of days specified in the transaction agreements, and allocated
                to
                principal, interest or other items (e.g., escrow) in accordance with
                the
                related pool asset documents. 

               

            	
              X

            	 	 
	
              1122(d)(4)(v)

            	
              The
                Servicer’s records regarding the pool assets agree with the Servicer’s
                records with respect to an obligor’s unpaid principal balance.
                

               

            	
              X

            	 	 
	
              1122(d)(4)(vi)

            	
              Changes
                with respect to the terms or status of an obligor's pool assets (e.g.,
                loan modifications or re-agings) are made, reviewed and approved
                by
                authorized personnel in accordance with the transaction agreements
                and
                related pool asset documents. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(vii)

            	
              Loss
                mitigation or recovery actions (e.g., forbearance plans, modifications
                and
                deeds in lieu of foreclosure, foreclosures and repossessions, as
                applicable) are initiated, conducted and concluded in accordance
                with the
                timeframes or other requirements established by the transaction
                agreements. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(viii)

            	
              Records
                documenting collection efforts are maintained during the period a
                pool
                asset is delinquent in accordance with the transaction agreements.
                Such
                records are maintained on at least a monthly basis, or such other
                period
                specified in the transaction agreements, and describe the entity’s
                activities in monitoring delinquent pool assets including, for example,
                phone calls, letters and payment rescheduling plans in cases where
                delinquency is deemed temporary (e.g., illness or unemployment).
                

               

            	
              X

            	 	 
	
              1122(d)(4)(ix)

            	
              Adjustments
                to interest rates or rates of return for pool assets with variable
                rates
                are computed based on the related pool asset documents. 

               

            	
              X

            	
              X

            	 
	
              1122(d)(4)(x)

            	
              Regarding
                any funds held in trust for an obligor (such as escrow accounts):
                (A) such
                funds are analyzed, in accordance with the obligor’s pool asset documents,
                on at least an annual basis, or such other period specified in the
                transaction agreements; (B) interest on such funds is paid, or credited,
                to obligors in accordance with applicable pool asset documents and
                state
                laws; and (C) such funds are returned to the obligor within 30 calendar
                days of full repayment of the related pool assets, or such other
                number of
                days specified in the transaction agreements. 

               

            	
              X

            	 	 
	
              1122(d)(4)(xi)

            	
              Payments
                made on behalf of an obligor (such as tax or insurance payments)
                are made
                on or before the related penalty or expiration dates, as indicated
                on the
                appropriate bills or notices for such payments, provided that such
                support
                has been received by the servicer at least 30 calendar days prior
                to these
                dates, or such other number of days specified in the transaction
                agreements. 

               

            	
              X

            	 	 
	
              1122(d)(4)(xii)

            	
              Any
                late payment penalties in connection with any payment to be made
                on behalf
                of an obligor are paid from the Servicer’s funds and not charged to the
                obligor, unless the late payment was due to the obligor’s error or
                omission. 

               

            	
              X

            	 	 
	
              1122(d)(4)(xiii)

            	
              Disbursements
                made on behalf of an obligor are posted within two business days
                to the
                obligor’s records maintained by the servicer, or such other number of days
                specified in the transaction agreements. 

               

            	
              X

            	 	 
	
              1122(d)(4)(xiv)
                

            	
              Delinquencies,
                charge-offs and uncollectible accounts are recognized and recorded
                in
                accordance with the transaction agreements. 

               

            	 	
              X

            	 
	
              1122(d)(4)(xv)

            	
              Any
                external enhancement or other support, identified in Item 1114(a)(1)
                through (3) or Item 1115 of Regulation AB, is maintained as set forth
                in
                the transaction agreements. 

               

            	 	 	
              X

            

    

    

    

    

      

      
        * Subject
          to clarification from the SEC.

      

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      D

     

    FORM
      OF
      ASSIGNMENT AND RECOGNITION AGREEMENT

     

    
       

      This
        is
        an Assignment, Assumption and Recognition Agreement (“Assignment Agreement”)
        made as of April 10, 2007, among
        Citigroup Global Markets Realty Corp.
        (the
“Assignor”), Wells
        Fargo Bank, N.A. (the “Company”) and
        Citigroup Mortgage Loan Trust Inc. (the “Assignee”) for the benefit of the
        holders of the Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed
        Pass-Through Certificates, Series 2007-WFHE2. 

       

      In
        consideration of the mutual promises contained herein the parties hereto
        agree
        that (i) the residential mortgage loans
        (the “Assigned Loans”) listed on Attachment 1 annexed hereto (the “Assigned Loan
        Schedule”), (ii) the Amended
        and Restated Master Mortgage Loan Purchase Agreement (the “Agreement”), dated as
        of March 1, 2006,
        as
        amended by the First Amendment to the Amended and Restated Master Mortgage
        Loan
        Purchase Agreement, dated as of October 26, 2006 between the Assignor and
        the
        Company, pursuant to which the Assigned Loans were purchased by the Assignor
        from the Company and (iii) the Assignment and Conveyance Agreement (the
“Assignment and Conveyance Agreement”), dated as of February 27, 2007, between
the
        Company and
        the
        Assignor shall
        be
        subject to the terms of this Assignment Agreement. Capitalized terms used
        herein
        but not defined shall have the meanings ascribed to them in the
        Agreement.

       

      Assignment
        and Assumption

       

      Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest as in, to and under
        (a) the
        Assigned Loans and (b) the Agreement with respect to the Assigned Loans;
        provided, however, that the Assignor is not assigning to the Assignee any
        of its
        right, title or interest, in, to and under the Agreement with respect to
        any
        mortgage loan other than the Assigned Loans listed on Attachment 1. Except
        as is
        otherwise expressly provided herein, the Assignor makes no representations,
        warranties or covenants to the Assignee and the Assignee acknowledges that
        the
        Assignor has no obligations to the Assignee under the terms of the Agreement
        or
        otherwise relating to the transaction contemplated herein (including, but
        not
        limited to, any obligation to indemnify the Assignee). The rights of the
        Assignor under Section 4(b) of the Agreement shall survive the execution
        and
        delivery of this Assignment Agreement.

       

      Representations,
        Warranties and Covenants

       

      1.
          Assignor
        warrants and represents to Assignee and Company as of the date
        hereof:

       

      (a)  The
        Agreement is in full force and effect as of the date hereof and the provisions
        of which have not been waived, amended or modified in any respect, nor has
        any
        notice of termination been given thereunder;

       

      (b)  Assignor
        is the lawful owner of the Assigned Loans with full right to transfer the
        Assigned Loans and any and all of its interests, rights and obligations under
        the Agreement as they relate to the Assigned Loans, free and clear from any
        and
        all claims and encumbrances; and upon the transfer of the Assigned Loans
        to
        Assignee as contemplated herein, Assignee shall have good title to each and
        every Assigned Loan, as well as any and all of Assignee’s interests, rights and
        obligations under the Agreement as they relate to the Assigned Loans, free
        and
        clear of any and all liens, claims and encumbrances;

       

      (c)  There
        are
        no offsets, counterclaims or other defenses available to Company with respect
        to
        the Assigned Loans or the Agreement;

       

      (d)  Assignor
        has no knowledge of, and has not received notice of, any waivers under, or
        any
        modification of, any Assigned Loan;

       

      (e)  Assignor
        is duly organized, validly existing and in good standing under the laws of
        the
        jurisdiction of its incorporation, and has all requisite power and authority
        to
        acquire, own and sell the Assigned Loans;

       

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

       

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

       

      (h)  Neither
        Assignor nor anyone acting on its behalf has offered, transferred, pledged,
        sold
        or otherwise disposed of the Assigned Loans or any interest in the Assigned
        Loans, or solicited any offer to buy or accept a transfer, pledge or other
        disposition of the Assigned Loans, or any interest in the Assigned Loans
        or
        otherwise approached or negotiated with respect to the Assigned Loans, or
        any
        interest in the Assigned Loans with any Person in any manner, or made any
        general solicitation by means of general advertising or in any other manner,
        or
        taken any other action which would constitute a distribution of the Assigned
        Loans under the Securities Act of 1933, as amended (the “1933 Act”) or which
        would render the disposition of the Assigned Loans a violation of Section
        5 of
        the 1933 Act or require registration pursuant thereto;

       

      (i)  The
        Assignor has received from Company, and has delivered to the Assignee, all
        documents required to be delivered to Assignor by the Company prior to the
        date
        hereof pursuant to the Agreement with respect to the Assigned Loans and has
        not
        received, and has not requested from the Company, any additional documents;
        

       

      (j)  There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignor's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignor, would adversely affect
        Assignor's execution or delivery of, or the enforceability of, this Assignment
        Agreement, or the Assignor's ability to perform its obligations under this
        Assignment Agreement;

       

      (k)  The
        Assignor hereby represents and warrants that to the best of the Assignor’s
        knowledge, nothing has occurred in the period of time from the related Closing
        Date (as defined in the Agreement) to the date hereof which would cause such
        representation and warranties referred to in Exhibit A to be untrue in any
        material respect as of the date hereof;

       

      (l)  No
        Mortgage Loan originated on or after October 1, 2002 through March 6, 2003
        is
        governed by the Georgia Fair Lending Act; and

       

      (m)  No
        Mortgage Loan is a high cost loan or a covered loan, as applicable (as such
        terms are defined in Standard & Poor’s LEVELS Version 5.7(c) Glossary
        Revised, Appendix E).

       

      (n)  All
        Mortgage Loans were originated in compliance with all applicable laws,
        including, but not limited to, all applicable anti-predatory lending
        laws.

       

      2.
          Assignee
        warrants and represents to, and covenants with, Assignor and Company as of
        the
        date hereof:

       

      (a)  Assignee
        is a Delaware corporation duly organized, validly existing and in good standing
        under the laws of the State of Delaware and has all requisite power and
        authority to hold the Assigned Loans;

       

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

       

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

       

      (d)  There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignee's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignee, would adversely affect
        Assignee's execution or delivery of, or the enforceability of, this Assignment
        Agreement, or the Assignee's ability to perform its obligations under this
        Assignment Agreement;

       

      (e)  Assignee
        assumes for the benefit of each of the Assignor and the Company all of the
        rights of the Assignor under the Agreement with respect to the Assigned Loans;
        and

       

      (f)  The
        Assignee agrees to be bound, as purchaser, by all of the terms, covenants
        and
        conditions of the Agreement and the Assigned Loans, and from and after the
        date
        hereof, the Assignee assumes for the benefit of each of the Company and the
        Assignor all of the Assignor’s obligations as purchaser thereunder, with respect
        to the Assigned Loans.

       

      3.
          Company
        warrants and represents to, and covenant with, Assignor and Assignee as of
        the
        date hereof:

       

      (a)  The
        Agreement is in full force and effect as of the date hereof and the provisions
        of which have not been waived, further amended or modified in any respect,
        nor
        has any notice of termination been given thereunder; 

       

      (b)  Company
        is a national banking association duly organized, validly existing and in
        good
        standing under the laws of the United States, and has all requisite power
        and
        authority to service the Assigned Loans and otherwise to perform its obligations
        under the Agreement;

       

      (c)  Company
        has full power and authority to execute, deliver and perform its obligations
        under this Assignment Agreement, and to consummate the transactions set forth
        herein. The consummation of the transactions contemplated by this Assignment
        Agreement is in the ordinary course of Company’s business and will not conflict
        with, or result in a breach of, any of the terms, conditions or provisions
        of
        Company’s charter or by-laws or any legal restriction, or any material agreement
        or instrument to which Company is now a party or by which it is bound, or
        result
        in the violation of any law, rule, regulation, order, judgment or decree
        to
        which Company or its property is subject. The execution, delivery and
        performance by Company of this Assignment Agreement and the consummation
        by it
        of the transactions contemplated hereby, have been duly authorized by all
        necessary action on the part of Company. This Assignment Agreement has been
        duly
        executed and delivered by Company, and, upon the due authorization, execution
        and delivery by Assignor and Assignee, will constitute the valid and legally
        binding obligation of Company, enforceable against Company in accordance
        with
        its terms except as enforceability may be limited by the effect of insolvency,
        liquidation, conservatorship and other similar laws administered by the Federal
        Deposit Insurance Corporation affecting the enforcement of contract obligations
        of insured banks and subject to the application of the rules of equity,
        including those respecting the availability of specific
        performance;

       

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

       

      (e)  No
        event
        has occurred from the Closing Date to the date hereof which would render
        the
        representations and warranties as to the Company in Section 6(a) of the
        Agreement to be untrue in any material respect;

       

      (f)  Each
        of
        the representations and warranties regarding the Assigned Loans set forth
        in
        Section 6(b) of the Agreement (and attached hereto as Exhibit A) are true
        and
        correct as of the related Closing Date (as defined in the Agreement);
        and

       

      (g)  Neither
        this Assignment Agreement nor any certification, statement, report or other
        agreement, document or instrument furnished or to be furnished by the Company
        pursuant to this Assignment Agreement contains or will contain any materially
        untrue statement of fact or omits or will omit to state a fact necessary
        to make
        the statements contained therein not misleading.

       

      4.
          Assignor
        hereby agrees to indemnify and hold the Assignee (and its successors and
        assigns) harmless against any and all claims, losses, penalties, fines,
        forfeitures, legal fees and related costs, judgments, and any other costs,
        fees
        and expenses that Assignee (and its successors and assigns) may sustain in
        any
        way related to any breach of the representations or warranties of Assignor
        set
        forth in this Assignment Agreement or the breach of any covenant or condition
        contained herein.

       

      Recognition
        of Assignee

       

      5.
          From
        and
        after the date hereof, the Company shall recognize Assignee as owner of the
        Assigned Loans, and acknowledges that the Assigned Loans will be further
        assigned by the Assignee to U.S. Bank National Association as trustee under
        the
        Pooling and Servicing Agreement, dated as of March 1, 2007 (the “Pooling and
        Servicing Agreement”), among the Citigroup Mortgage Loan Trust Inc. as depositor
        (the “Depositor”), Wells
        Fargo Bank, N.A. as servicer (the “Servicer”), Citibank, N.A. as trust
        administrator (the “Trust Administrator”) and U.S. Bank National Association as
        trustee (the “Trustee”)
        and
        further acknowledges that the Assigned Loans will be part of a REMIC, and
        will
        service the Assigned Loans in accordance with the Pooling and Servicing
        Agreement. It is the intention of Assignor, Company and Assignee that this
        Assignment Agreement shall be binding upon and for the benefit of the respective
        successors and assigns of the parties hereto. Neither Company nor Assignor
        shall
        amend or agree to amend, modify, waive, or otherwise alter any of the terms
        or
        provisions of the Agreement which amendment, modification, waiver or other
        alteration would in any way affect the Assigned Loans without the prior written
        consent of Assignee.

       

      Remedies
        for Breach of Representations and Warranties

       

      6.
          The
        Company hereby acknowledges and agrees that the remedies available to the
        Assignor, the Assignee and the Trust (including the Trustee and the Servicer
        acting on the Trust’s behalf) in connection with any breach of the
        representations and warranties made by the Company set forth in Section 3
        hereof
        shall be as set forth in Section 4(b) of the Agreement as if they were set
        forth
        herein (including without limitation the repurchase and indemnity obligations
        set forth therein).

       

      In
        addition to the foregoing, in the event that a breach of any representation
        of
        the Company materially and adversely affects the interests of the Assignor
        in
        any prepayment penalty or the collectability of such prepayment penalty,
        the
        Company shall pay the amount of the scheduled prepayment penalty to the Assignor
        upon the payoff of any related Assigned Loan.

       

      The
        Assignor hereby acknowledges and agrees that the remedies available to the
        Assignee and the Trust (including the Trustee and the Servicers acting on
        the
        Trust’s behalf) in connection with any breach of the representations and
        warranties made by the Assignor set forth in Section 4 hereof shall be as
        set
        forth in Section 2.03 of the Pooling Agreement as if they were set forth
        herein.

       

      Notwithstanding
        the foregoing, the Assignor may, at its option, satisfy any obligation of
        the
        Company with respect to any breach of representation and warranty made by
        the
        Company regarding the Mortgage Loans.

       

      In
        addition, the Company shall repurchase at the Purchase Price or Adjusted
        Purchase Price, as the case may be (each, as defined in the Commitment Letter,
        dated January 11, 2007, between Company and Assignor), all Assigned Loans
        that fail to make the first scheduled monthly payment due to the Assignor
        within thirty (30) days of when such payment is due (an “FPD”). In the event an
        FPD occurs, the repurchase price shall be equal to (i) the product of the
        Purchase Price or Adjusted Purchase Price percentage, as the case may be,
        and
        the Stated Principal Balance of the related Assigned Loan as of the date
        on
        which such repurchase is effective plus (ii) interest on such Stated Principal
        Balance at the Mortgage Loan Remittance Rate (as defined in the Agreement)
        from the Cut-off Date (as defined in the Agreement) through the last day of
        the month in which such repurchase is effective; provided, however,
        that any amounts in excess of the Purchase Price (as defined in the Pooling
        and Servicing Agreement) shall be remitted by the Company to the
        Assignor.
        

       

        Miscellaneous

       

      7.
          All
        demands, notices and communications related to the Assigned Loans, the
        Agreements and this Assignment Agreement shall be in writing and shall be
        deemed
        to have been duly given if personally delivered at or mailed by registered
        mail,
        postage prepaid, as follows:

       

      
        	(a)  	
                In
                  the case of Company:

              

      

       

      WELLS
        FARGO BANK, N.A.

      1
        Home
        Campus

      Des
        Moines, Iowa 50328-0001

      Attention:
        John B. Brown, MAC X2302-033

      Facsimile:
        (515) 324-3118

      

      With
        a copy to :

      WELLS
        FARGO BANK, N.A.

      1
        Home Campus

      Des
        Moines, Iowa 50328-0001

      Attention:
        General Counsel, MAC X2401-06T

      Facsimile:
        (515) 213-5192

      

      
        	(b)  	
                In
                  the case of Assignor:

              

      

       

      CITIGROUP
        GLOBAL MARKETS REALTY CORP.

      390
        Greenwich Street

      New
        York,
        New York 10013

      Attention:
        Mortgage Finance Group

      Facsimile:
        (212)
        723-8604

       

      
        	(c)  	
                In
                  the case of Assignee:

              

      

       

      CITIGROUP
        MORTGAGE LOAN TRUST INC.

      390
        Greenwich Street

      New
        York,
        New York 10013

      Attention:
        Mortgage Finance Group

      Facsimile:
        (212)
        723-8604

      

      8.
          Each
        party will pay any commissions it has incurred and the fees of its attorneys
        in
        connection with the negotiations for, documenting of and closing of the
        transactions contemplated by this Assignment Agreement.

       

      9.
          This
        Assignment Agreement shall be construed in accordance with the laws of the
        State
        of New York, without regard to conflicts of law principles, and the obligations,
        rights and remedies of the parties hereunder shall be determined in accordance
        with such laws.

       

      10.
          No
        term
        or provision of this Assignment Agreement may be waived or modified unless
        such
        waiver or modification is in writing and signed by the party against whom
        such
        waiver or modification is sought to be enforced.

       

      11.
          This
        Assignment Agreement shall inure to the benefit of the successors and assigns
        of
        the parties hereto. Any entity into which Assignor, Assignee or Company may
        be
        merged or consolidated shall, without the requirement for any further writing,
        be deemed Assignor, Assignee or Company, respectively, hereunder.

       

      12.
          This
        Assignment Agreement shall survive the conveyance of the Assigned Loans,
        the
        assignment of the Agreement to the extent of the Assigned Loans by Assignor
        to
        Assignee and the termination of the Agreement.

       

      13.
          This
        Assignment Agreement may be executed simultaneously in any number of
        counterparts. Each counterpart shall be deemed to be an original and all
        such
        counterparts shall constitute one and the same instrument.

       

      14.
          In
        the
        event that any provision of this Assignment Agreement conflicts with any
        provision of the Agreement with respect to the Assigned Loans, the terms
        of this
        Assignment Agreement shall control.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

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

       

      

      
        	
                CITIGROUP
                  GLOBAL MARKETS REALTY CORP.

                as
                  Assignor

              
	 	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 
	 
	 
	
                CITIGROUP
                  MORTGAGE LOAN TRUST INC.

                as
                  Assignee 

              
	 	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 
	 
	 
	
                WELLS
                  FARGO BANK, N.A.

                as
                  Company

              
	 	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 

      

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        1

       

      

       

      ASSIGNED
        LOANS SCHEDULE

       

      Available
        Upon Request

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        A

      

      Representations
        and Warranties

      

      Capitalized
        terms used in this Exhibit A but not defined in this Agreement shall have
        the
        meanings given to such terms in the Purchase Agreement.

      

      With
        respect to each Mortgage Loan:

      

      
        	(i)  	
                Mortgage
                  Loans as Described.

              

      

       

      The
        information set forth in the respective Mortgage Loan Schedule and the
        information contained on the Data File, delivered to the Purchaser is true
        and
        correct, provided that the Seller makes no representation or warranty as
        to the
        accuracy of Unverified Information;

      

      (ii) Payments
        Current.

      

      All
        payments required to be made up to the related Cut-off Date for the Mortgage
        Loan under the terms of the Mortgage Note have been made and credited. No
        payment under any Mortgage Loan has been 30 days delinquent more than one
        time
        within twelve (12) months prior to the related Closing Date;

      

      (iii) No
        Outstanding Charges.

      

      There
        are
        no defaults in complying with the terms of the Mortgages, and all taxes,
        governmental assessments, insurance premiums, leasehold payments, water,
        sewer
        and municipal charges, which previously became due and owing have been paid,
        or
        an escrow of funds has been established in an amount sufficient to pay for
        every
        such item which remains unpaid and which has been assessed but is not yet
        due
        and payable. The Seller has not advanced funds, or induced, or solicited
        directly or indirectly, the payment of any amount required under the Mortgage
        Loan, except for interest accruing from the date of the Mortgage Note or
        date of
        disbursement of the Mortgage Loan proceeds, whichever is later, to the day
        which
        precedes by one month the Due Date of the first installment of principal
        and
        interest;

      

      (iv) Original
        Terms Unmodified.

      

      The
        terms
        of the Mortgage Note and Mortgage have not been impaired, waived, altered
        or
        modified in any respect, except by a written instrument which has been recorded
        or registered with the MERS System, if necessary, to protect the interests
        of
        the Purchaser and which has been delivered to the Custodian. The substance
        of
        any such waiver, alteration or modification has been approved by the issuer
        of
        any related PMI Policy and the title insurer, to the extent required by the
        policy, and its terms are reflected on the related Mortgage Loan Schedule.
        No
        Mortgagor has been released, in whole or in part, except in connection with
        an
        assumption agreement approved by the issuer of any related PMI Policy and
        the
        title insurer, to the extent required by the policy, and which assumption
        agreement is part of the Custodial Mortgage File delivered to the Custodian
        and
        the terms of which are reflected in the related Mortgage Loan
        Schedule;

      

      (v) No
        Defenses.

      

      The
        Mortgage Loan is not subject to any right of rescission, set-off, counterclaim
        or defense, including without limitation the defense of usury, nor will the
        operation of any of the terms of the Mortgage Note or the Mortgage, or the
        exercise of any right thereunder, render either the Mortgage Note or the
        Mortgage unenforceable, in whole or in part, or subject to any right of
        rescission, set-off, counterclaim or defense, including without limitation
        the
        defense of usury, and no such right of rescission, set-off, counterclaim
        or
        defense has been asserted with respect thereto;

      

      (vi) No
        Satisfaction of Mortgage.

      

      The
        Mortgage has not been satisfied, canceled, subordinated or rescinded, in
        whole
        or in part, and the Mortgaged Property has not been released from the lien
        of
        the Mortgage, in whole or in part, nor has any instrument been executed that
        would effect any such satisfaction, release, cancellation, subordination
        or
        rescission;

      

      (vii) Validity
        of Mortgage Documents.

      

      The
        Mortgage Note and the Mortgage and related documents are genuine, and each
        is
        the legal, valid and binding obligation of the maker thereof enforceable
        in
        accordance with its terms. All parties to the Mortgage Note and the Mortgage
        had
        legal capacity to enter into the Mortgage Loan and to execute and deliver
        the
        Mortgage Note and the Mortgage, and the Mortgage Note and the Mortgage have
        been
        duly and properly executed by such parties.

      

      With
        respect to each Cooperative Loan, the Mortgage Note, the Mortgage, the Pledge
        Agreement, and related documents are genuine, and each is the legal, valid
        and
        binding obligation of the maker thereof enforceable in accordance with its
        terms. All parties to the Mortgage Note, the Mortgage, the Pledge Agreement,
        the
        Proprietary Lease, the Stock Power, Recognition Agreement and the Assignment
        of
        Proprietary Lease had legal capacity to enter into the Mortgage Loan and
        to
        execute and deliver such documents, and such documents have been duly and
        properly executed by such parties;

      

      (viii) No
        Fraud.

      

      No
        error,
        omission, misrepresentation, negligence, fraud or similar occurrence with
        respect to a Mortgage Loan has taken place on the part of the Seller, or
        the
        Mortgagor (except with respect to the accuracy of Unverified Information),
        or to
        the best of the Seller’s knowledge, any appraiser, any builder, or any
        developer, or any other party involved in the origination of the Mortgage
        Loan
        or in the application of any insurance in relation to such Mortgage
        Loan;

      

      (ix) Compliance
        with Applicable Laws.

      

      Any
        and
        all requirements of any federal, state or local law including, without
        limitation, usury, truth-in-lending, real estate settlement procedures, consumer
        credit protection, equal credit opportunity, disclosure or predatory and
        abusive
        lending laws applicable to the Mortgage Loan have been complied with. All
        inspections, licenses and certificates required to be made or issued with
        respect to all occupied portions of the Mortgaged Property and, with respect
        to
        the use and occupancy of the same, including, but not limited to, certificates
        of occupancy and fire underwriting certificates, have been made or obtained
        from
        the appropriate authorities;

      

      (x) Location
        and Type of Mortgaged Property.

      

      The
        Mortgaged Property is located in the state identified in the related Mortgage
        Loan Schedule and consists of a contiguous parcel of real property with a
        detached single family residence erected thereon, or a two- to four-family
        dwelling, or an individual condominium unit in a condominium project, or
        an
        individual unit in a planned unit development, or a townhouse, or a cooperative,
        provided, however, that any condominium project or planned unit development
        shall conform with the applicable Fannie Mae or Freddie Mac requirements,
        or the
Underwriting
        Guidelines with respect to the Seller Mortgage Loans (other than the exceptions
        identified for Exception Mortgage Loans on the related Assignment and Conveyance
        Agreement) or the Third-Party Underwriting Guidelines with respect to
        Third-Party Mortgage Loans, as applicable,
        regarding such dwellings, and no residence or dwelling is a mobile home.
        As of
        the respective appraisal date for each Mortgaged Property, any Mortgaged
        Property being used for commercial purposes conforms to the Underwriting
        Guidelines with respect to the Seller Mortgage Loans (other than the exceptions
        identified for Exception Mortgage Loans on the related Assignment and Conveyance
        Agreement) or the Third-Party Underwriting Guidelines with respect to
        Third-Party Mortgage Loans, as applicable
        and, to
        the best of the Seller’s knowledge, since the date of such appraisal, no portion
        of the Mortgaged Property has been used for commercial purposes outside of
        the
Underwriting
        Guidelines with respect to the Seller Mortgage Loans (other than the exceptions
        identified for Exception Mortgage Loans on the related Assignment and Conveyance
        Agreement) or the Third-Party Underwriting Guidelines with respect to
        Third-Party Mortgage Loans, as applicable;

      

      (xi) Valid
        First Lien.

      

      The
        Mortgage is a valid, subsisting and enforceable first lien on the Mortgaged
        Property, including all buildings on the Mortgaged Property and all
        installations and mechanical, electrical, plumbing, heating and air conditioning
        systems located in or annexed to such buildings, and all additions, alterations
        and replacements made at any time with respect to the foregoing. The lien
        of the
        Mortgage is subject only to:

      

      (1) the
        lien
        of current real property taxes and assessments not yet due and
        payable;

      

      (2) covenants,
        conditions and restrictions, rights of way, easements and other matters of
        the
        public record as of the date of recording acceptable to mortgage lending
        institutions generally and specifically referred to in the lender's title
        insurance policy delivered to the originator of the Mortgage Loan and (i)
        referred to or otherwise considered in the appraisal made for the originator
        of
        the Mortgage Loan and (ii) which do not adversely affect the Appraised Value
        of
        the Mortgaged Property set forth in such appraisal; and

      

      (3) other
        matters to which like properties are commonly subject which do not materially
        interfere with the benefits of the security intended to be provided by the
        mortgage or the use, enjoyment, value or marketability of the related Mortgaged
        Property.

      

      Any
        security agreement, chattel mortgage or equivalent document related to and
        delivered in connection with the Mortgage Loan establishes and creates a
        valid,
        subsisting and enforceable first lien and first priority security interest
        on
        the property described therein and the Seller has full right to sell and
        assign
        the same to the Purchaser.

      

      With
        respect to each Cooperative Loan, each Pledge Agreement creates a valid,
        enforceable and subsisting first security interest in the Cooperative Shares
        and
        Proprietary Lease, subject only to (i) the lien of the related Cooperative
        for
        unpaid assessments representing the Mortgagor’s pro rata share of the
        Cooperative’s payments for its blanket mortgage, current and future real
        property taxes, insurance premiums, maintenance fees and other assessments
        to
        which like collateral is commonly subject and (ii) other matters to which
        like
        collateral is commonly subject which do not materially interfere with the
        benefits of the security intended to be provided by the Pledge Agreement;
        provided, however, that the appurtenant Proprietary Lease may be subordinated
        or
        otherwise subject to the lien of any mortgage on the Project; 

      

      (xii) Full
        Disbursement of Proceeds.

      

      The
        proceeds of the Mortgage Loan have been fully disbursed, except for escrows
        established or created due to seasonal weather conditions, and there is no
        requirement for future advances thereunder. All costs, fees and expenses
        incurred in making or closing the Mortgage Loan and the recording of the
        Mortgage were paid, and the Mortgagor is not entitled to any refund of any
        amounts paid or due under the Mortgage Note or Mortgage;

      

      (xiii) Consolidation
        of Future Advances.

      

      Any
        future advances made prior to the related Cut-off Date, have been consolidated
        with the outstanding principal amount secured by the Mortgage, and the secured
        principal amount, as consolidated, bears a single interest rate and single
        repayment term reflected on the related Mortgage Loan Schedule. The lien
        of the
        Mortgage securing the consolidated principal amount is expressly insured
        as
        having first lien priority (or second lien priority for each Mortgage Loan
        identified on the such Mortgage Loan Schedule as being a Second Lien Mortgage
        Loan) by a title insurance policy, an endorsement to the policy insuring
        the
        mortgagee’s consolidated interest or by other title evidence acceptable to
        Fannie Mae or Freddie Mac; the consolidated principal amount does not exceed
        the
        original principal amount of the Mortgage Loan; the Seller shall not make
        future
        advances after the related Cut-off Date;

      

      (xiv) Ownership.

      

      The
        Seller is the sole owner of record and holder of the Mortgage Loans and the
        related Mortgage Note and the Mortgage are not assigned or pledged, and the
        Seller has good and marketable title thereto and has full right and authority
        to
        transfer and sell the Mortgage Loan to the Purchaser. The Seller is transferring
        the Mortgage Loan free and clear of any and all encumbrances, liens, pledges,
        equities, participation interests, claims, charges or security interests
        of any
        nature encumbering such Mortgage Loan;

      

      (xv) Origination/Doing
        Business.

      

      The
        Mortgage Loan was originated by a savings and loan association, a savings
        bank,
        a commercial bank, a credit union, an insurance company, or similar institution
        that is supervised and examined by a federal or state authority or by a
        mortgagee approved by the Secretary of Housing and Urban Development pursuant
        to
        Sections 203 and 211 of the National Housing Act. All parties which have
        had any
        interest in the Mortgage Loan, whether as mortgagee, assignee, pledgee or
        otherwise, are (or, during the period in which they held and disposed of
        such
        interest, were) (1) in compliance with any and all applicable licensing
        requirements of the laws of the state wherein the Mortgaged Property is located,
        and (2) organized under the laws of such state, or (3) qualified to do business
        in such state, or (4) federal savings and loan associations or national banks
        having principal offices in such state, or (5) not doing business in such
        state;

      

      (xvi) LTV,
        PMI Policy.

      

      Each
        Mortgage Loan is covered by an ALTA lender's title insurance policy (or in
        the
        case of any Mortgage Loan secured by a Mortgaged Property located in a
        jurisdiction where such policies are generally not available, an opinion
        of
        counsel of the type customarily rendered in such jurisdiction in lieu of
        title
        insurance) or other generally acceptable form of policy of insurance acceptable
        to Fannie Mae or Freddie Mac, issued by a title insurer acceptable to Fannie
        Mae
        or Freddie Mac and qualified to do business in the jurisdiction where the
        Mortgaged Property is located, insuring the Seller, its successors and assigns,
        as to the first priority lien (or second priority if such Mortgage Loan is
        a
        Second Lien Mortgage Loan) of the Mortgage in the original principal amount
        of
        the Mortgage Loan, subject only to the exceptions contained in clauses (1),
        (2)
        and (3) of subsection (xi) of this Section 6(b) with respect to each First
        Lien
        Mortgage Loan and subject only to the exceptions contained in clauses (1),
        (2),
        (3) and (4) of subsection (xlxii) with respect to each Second Lien Mortgage
        Loan, and against any loss by reason of the invalidity or unenforceability
        of
        the lien resulting from the provisions of the Mortgage providing for adjustment
        to the Mortgage Interest Rate and Monthly Payment. Additionally, such lender's
        title insurance policy includes no exceptions regarding ingress, egress or
        encroachments that impact the value or the marketability of the Mortgaged
        Property. The Seller is the sole insured of such lender's title insurance
        policy, and such lender's title insurance policy is in full force and effect
        and
        will be in force and effect upon the consummation of the transactions
        contemplated by this Agreement. No claims have been made under such lender's
        title insurance policy, and no prior holder of the Mortgage, including the
        Seller, has done, by act or omission, anything which would impair the coverage
        of such lender's title insurance policy;

       

       

      (xvii) Title
        Insurance.

      The
        Mortgage Loan is covered by an ALTA lender's title insurance policy (or in
        the
        case of any Mortgage Loan secured by a Mortgaged Property located in a
        jurisdiction where such policies are generally not available, an opinion
        of
        counsel of the type customarily rendered in such jurisdiction in lieu of
        title
        insurance) or other generally acceptable form of policy of insurance acceptable
        to Fannie Mae or Freddie Mac, issued by a title insurer acceptable to Fannie
        Mae
        or Freddie Mac and qualified to do business in the jurisdiction where the
        Mortgaged Property is located, insuring the Seller, its successors and assigns,
        as to the first priority lien (or second priority if such Mortgage Loan is
        a
        Second Lien Mortgage Loan) of the Mortgage in the original principal amount
        of
        the Mortgage Loan, subject only to the exceptions contained in clauses (1),
        (2)
        and (3) of subsection (xi) of this Section 6(b), and against any loss by
        reason
        of the invalidity or unenforceability of the lien resulting from the provisions
        of the Mortgage providing for adjustment to the Mortgage Interest Rate and
        Monthly Payment. Additionally, such lender’s title insurance policy includes no
        exceptions regarding ingress, egress or encroachments that impact the value
        or
        the marketability of the Mortgaged Property. The Seller is the sole insured
        of
        such lender's title insurance policy, and such lender's title insurance policy
        is in full force and effect and will be in force and effect upon the
        consummation of the transactions contemplated by this Agreement. No claims
        have
        been made under such lender's title insurance policy, and no prior holder
        of the
        Mortgage, including the Seller, has done, by act or omission, anything which
        would impair the coverage of such lender's title insurance policy;

      

      (xviii) No
        Defaults.

      

      There
        is
        no default, breach, violation or event of acceleration existing under the
        Mortgage or the Mortgage Note and no event which, with the passage of time
        or
        with notice and the expiration of any grace or cure period, would constitute
        a
        default, breach, violation or event of acceleration, and neither the Seller
        nor
        its predecessors have waived any default, breach, violation or event of
        acceleration; 

      

      (xix) No
        Mechanics' Liens.

      

      There
        are
        no mechanics' or similar liens or claims which have been filed for work,
        labor
        or material (and no rights are outstanding that under the law could give
        rise to
        such liens) affecting the related Mortgaged Property which are or may be
        liens
        prior to, or equal or coordinate with, the lien of the related Mortgage which
        are not insured against by the title insurance policy referenced in Paragraph
        (xvii)
        above;

      

      (xx) Location
        of Improvements; No Encroachments.

      

      Except
        as
        insured against by the title insurance policy referenced in subsection (xvii)
        above, all improvements which were considered in determining the Appraised
        Value
        of the Mortgaged Property lay wholly within the boundaries and building
        restriction lines of the Mortgaged Property and no improvements on adjoining
        properties encroach upon the Mortgaged Property. No improvement located on
        or
        being part of the Mortgaged Property is in violation of any applicable zoning
        law or regulation;

      

      (xxi) Payment
        Terms.

      

      Except
        with respect to the Interest Only Mortgage Loans, principal payments commenced
        no more than 60 days after the funds were disbursed to the Mortgagor in
        connection with the Mortgage Loan. The Mortgage Loans have an original term
        to
        maturity of not more than 30 years (except with respect to certain Balloon
        Loans
        or Interest Only Mortgage Loans), with interest payable in arrears on the
        first
        day of each month. As to each adjustable rate Mortgage Loan on each applicable
        Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the
        sum of
        the Index plus the applicable Gross Margin, rounded up or down to the nearest
        multiple of 0.125% indicated by the Mortgage Note; provided that the Mortgage
        Interest Rate will not increase or decrease by more than the Periodic Interest
        Rate Cap on any Adjustment Date, and will in no event exceed the maximum
        Mortgage Interest Rate or be lower than the minimum Mortgage Interest Rate
        listed on the related Mortgage Note for such Mortgage Loan. As to each
        adjustable rate Mortgage Loan that is not an Interest Only Mortgage Loan,
        each
        Mortgage Note requires a monthly payment which is sufficient, during the
        period
        prior to the first adjustment to the Mortgage Interest Rate, to fully amortize
        the outstanding principal balance as of the first day of such period over
        the
        then remaining term of such Mortgage Note and to pay interest at the related
        Mortgage Interest Rate. As to each adjustable rate Mortgage Loan, if the
        related
        Mortgage Interest Rate changes on an Adjustment Date or, with respect to
        an
        Interest Only Mortgage Loan, on an Adjustment Date following the related
        interest only period, the then outstanding principal balance will be reamortized
        over the remaining life of such Mortgage Loan. No Mortgage Loan contains
        terms
        or provisions which would result in negative amortization. With respect to
        each
        Balloon Loan, the Mortgage Loan is payable in equal monthly installments
        of
        principal and interest based on a fifteen (15), thirty (30) or forty (40)
        year
        amortization schedule, as set forth in the related Mortgage Note, and a final
        lump sum payment substantially greater than the preceding Monthly Payment
        is
        required which is sufficient to amortize the remaining principal balance
        of the
        Balloon Loan. No Balloon Loan has an original stated maturity of less than
        seven
        (7) years.

      (xxii) Customary
        Provisions.

      

      The
        Mortgage and related Mortgage Note contain customary and enforceable provisions
        such as to render the rights and remedies of the holder thereof adequate
        for the
        realization against the Mortgaged Property of the benefits of the security
        provided thereby, including, (1) in the case of a Mortgage designated as
        a deed
        of trust, by trustee's sale, and (2) otherwise by judicial foreclosure. There
        is
        no homestead or other exemption available to a Mortgagor which would interfere
        with the right to sell the Mortgaged Property at a trustee's sale or the
        right
        to foreclose the Mortgage;

      

      (xxiii) Occupancy
        of the Mortgaged Property.

      

      As
        of the
        date of origination,
        the
        Mortgaged Property was in good repair and was lawfully occupied under applicable
        law;

      

      (xxiv) No
        Additional Collateral.

      

      Except
        in
        the case of a Pledged Asset Mortgage Loan and as indicated on the related
        Data
        File, the Mortgage Note is not and has not been secured by any collateral,
        pledged account or other security except the lien of the corresponding Mortgage
        and the security interest of any applicable security agreement or chattel
        mortgage referred to in subsections (xi) and (xlxii);

       

      (xxv) Deeds
        of Trust.

      

      In
        the
        event the Mortgage constitutes a deed of trust, a trustee, duly qualified
        under
        applicable law to serve as such, has been properly designated and currently
        so
        serves and is named in the Mortgage, and no fees or expenses are or will
        become
        payable by the Mortgagee to the trustee under the deed of trust, except in
        connection with a trustee's sale after default by the Mortgagor;

      

      (xxvi) Acceptable
        Investment.

      

      The
        Seller has no knowledge of any circumstances or conditions with respect to
        the
        Mortgage Loan, the Mortgaged Property, the Mortgagor or the Mortgagor's credit
        standing that can reasonably be expected to cause private institutional
        investors to regard the Mortgage Loan as an unacceptable investment, cause
        the
        Mortgage Loan to become delinquent, or adversely affect the value or
        marketability of the Mortgage Loan;

      

      (xxvii) Transfer
        of Mortgage Loans.

      

      If
        the
        Mortgage Loan is not a MERS Mortgage Loan, the Assignment of Mortgage, upon
        the
        insertion of the name of the assignee and recording information, is in
        recordable form and is acceptable for recording under the laws of the
        jurisdiction in which the Mortgaged Property is located;

      

      (xxviii) Mortgaged
        Property Undamaged.

      

      The
        Mortgaged Property is undamaged by waste, fire, earthquake or earth movement,
        windstorm, flood, tornado or other casualty so as to affect adversely the
        value
        of the Mortgaged Property as security for the Mortgage Loan or the use for
        which
        the premises were intended;

      

      (xxix) Collection
        Practices; Escrow Deposits.

      

      The
        origination, servicing and collection practices used with respect to the
        Mortgage Loan have been in accordance with Accepted Servicing Practices,
        and
        have been in all material respects legal and proper. With respect to escrow
        deposits and Escrow Payments, all such payments are in the possession of
        the
        Seller and there exist no deficiencies in connection therewith for which
        customary arrangements for repayment thereof have not been made. All Escrow
        Payments have been collected in full compliance with state and federal law.
        No
        escrow deposits or Escrow Payments or other charges or payments due the Seller
        have been capitalized under the Mortgage Note;

      

      (xxx) No
        Condemnation.

      

      There
        is
        no proceeding pending or to the best of the Seller’s knowledge threatened for
        the total or partial condemnation of the related Mortgaged
        Property;

      

      (xxxi) The
        Appraisal.

      

      The
        Servicing File include an appraisal, with the exception of any Time$aver®
Mortgage Loan (which at the original origination were on form 1004 or form
        2055
        with interior inspections), of the related Mortgaged Property. The appraisal
        was
        conducted by an appraiser who had no interest, direct or indirect, in the
        Mortgaged Property or in any loan made on the security thereof; and whose
        compensation is not affected by the approval or disapproval of the Mortgage
        Loan, and the appraisal and the appraiser both satisfy the applicable
        requirements of Title XI of the Financial Institution Reform, Recovery, and
        Enforcement Act of 1989 and the regulations promulgated thereunder, all as
        in
        effect on the date the Mortgage Loan was originated;

       

      (xxxii) Insurance.

      

      The
        Mortgaged Property securing each Mortgage Loan is insured by an insurer
        acceptable to Fannie Mae or Freddie Mac against loss by fire and such hazards
        as
        are covered under a standard extended coverage endorsement and such other
        hazards as are customary in the area where the Mortgaged Property is located
        pursuant to insurance policies conforming to the requirements of Section
        4.10 of
        the Servicing Agreement, in an amount which is at least equal to the lesser
        of
        (a) 100% of the insurable value, on a replacement cost basis, of the
        improvements on the related Mortgaged Property, or (b) the greater of (i)
        either
        (1) the outstanding principal balance of the Mortgage Loan with respect to
        each
        First Lien Mortgage Loan or (2) with respect to each Second Lien Mortgage
        Loan,
        the sum of the outstanding principal balance of the First Lien on such Mortgage
        Loan and the outstanding principal balance of such Second Lien Mortgage Loan,
        or
        (ii) an amount such that the proceeds of such insurance shall be sufficient
        to
        avoid the application to the Mortgagor or loss payee of any coinsurance clause
        under the policy. If the Mortgaged Property is a condominium unit, it is
        included under the coverage afforded by a blanket policy for the project.
        If the
        improvements on the Mortgaged Property are in an area identified in the Federal
        Register by the Federal Emergency Management Agency as having special flood
        hazards, a flood insurance policy meeting the requirements of the current
        guidelines of the Federal Insurance Administration is in effect with a generally
        acceptable insurance carrier, in an amount representing coverage not less
        than
        the least of (a) the outstanding principal balance of the Mortgage Loan with
        respect to each First Lien Mortgage Loan or with respect to each Second Lien
        Mortgage Loan, the sum of the outstanding principal balance of the First
        Lien on
        such Mortgage Loan and the outstanding principal balance of such Second Lien
        Mortgage Loan, (b) the full insurable value or (c) the maximum amount of
        insurance which was available under the Flood Disaster Protection Act of
        1973,
        as amended. All individual insurance policies contain a standard mortgagee
        clause naming the Seller and its successors and assigns as mortgagee, and
        all
        premiums thereon have been paid. The Mortgage obligates the Mortgagor thereunder
        to maintain a hazard insurance policy at the Mortgagor's cost and expense,
        and
        on the Mortgagor's failure to do so, authorizes the holder of the Mortgage
        to
        obtain and maintain such insurance at such Mortgagor's cost and expense,
        and to
        seek reimbursement therefor from the Mortgagor. The hazard insurance policy
        is
        the valid and binding obligation of the insurer, is in full force and effect,
        and will be in full force and effect and inure to the benefit of the Purchaser
        upon the consummation of the transactions contemplated by this Agreement.
        The
        Seller has not acted or failed to act so as to impair the coverage of any
        such
        insurance policy or the validity, binding effect and enforceability
        thereof;

       

      
        
          (xxxiii)
            Servicemembers
            Civil Relief Act.

        

      

      

      The
        Mortgagor has not notified the Seller, and the Seller has no knowledge of
        any
        relief requested or allowed to the Mortgagor under the Servicemembers Civil
        Relief Act, as amended;

      

      (xxxiv) No
        Graduated Payments or Contingent Interest.

      

      The
        Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan
        does not have a shared appreciation or other contingent interest
        feature;

      

      

      (xxxv) No
        Construction Loans.

      

      No
        Mortgage Loan was made in connection with (1) the construction or rehabilitation
        of a Mortgage Property or (2) facilitating the trade-in or exchange of a
        Mortgaged Property other than a construction-to-permanent loan which has
        converted to a permanent Mortgage Loan;

      

      
        
          (xxxvi) 
            Underwriting.

        

      

      

      
        	(1)  	
                Each
                  Seller Mortgage Loan was underwritten in accordance with the Underwriting
                  Guidelines;

              

      

      

      
        	(2)  	
                Each
                  Third-Party Mortgage Loan was underwritten in accordance with the
                  Third-Party Underwriting Guidelines;

              

      

      

      
        	(3)  	
                Each
                  Exception Mortgage Loan was underwritten in accordance with the
                  Underwriting Guidelines, subject to the exceptions specified on
                  the
                  related Assignment and Conveyance Agreement;
                  and

              

      

      

      
        	(4)  	
                Each
                  Mortgage Note and Mortgage are on forms acceptable to Freddie Mac
                  or
                  Fannie Mae;

              

      

      

      
        
          (xxxvii) 
            Buydown
            Mortgage Loans.

        

      

      

      With
        respect to each Mortgage Loan that is a Buydown Mortgage Loan:

      

      
        	 	
                (1)

              	
                On
                  or before the date of origination of such Mortgage Loan, the Seller
                  and
                  the Mortgagor, or the Seller, the Mortgagor and the seller of the
                  Mortgaged Property or a third party entered into a Buydown Agreement.
                  The
                  Buydown Agreement provides that the seller of the Mortgaged Property
                  (or
                  third party) shall deliver to the Seller temporary Buydown Funds
                  in an
                  amount equal to the aggregate undiscounted amount of payments that,
                  when
                  added to the amount the Mortgagor on such Mortgage Loan is obligated
                  to
                  pay on each Due Date in accordance with the terms of the Buydown
                  Agreement, is equal to the full scheduled Monthly Payment due on
                  such
                  Mortgage Loan. The temporary Buydown Funds enable the Mortgagor
                  to qualify
                  for the Buydown Mortgage Loan. The effective interest rate of a
                  Buydown
                  Mortgage Loan if less than the interest rate set forth in the related
                  Mortgage Note will increase within the Buydown Period as provided
                  in the
                  related Buydown Agreement so that the effective interest rate will
                  be
                  equal to the interest rate as set forth in the related Mortgage
                  Note. The
                  Buydown Mortgage Loan satisfies the requirements of the Underwriting
                  Guidelines with respect to the Seller Mortgage Loans (other than
                  the
                  exceptions identified for Exception Mortgage Loans on the related
                  Assignment and Conveyance Agreement) or the Third-Party Underwriting
                  Guidelines with respect to Third-Party Mortgage Loans, as
                  applicable;

              

      

      

      
        	 	
                (2)

              	
                The
                  Mortgage and Mortgage Note reflect the permanent payment terms
                  rather than
                  the payment terms of the Buydown Agreement. The Buydown Agreement
                  provides
                  for the payment by the Mortgagor of the full amount of the Monthly
                  Payment
                  on any Due Date that the Buydown Funds are available. The Buydown
                  Funds
                  were not used to reduce the original principal balance of the Mortgage
                  Loan or to increase the Appraised Value of the Mortgage Property
                  when
                  calculating the Loan-to-Value Ratios for purposes of the Agreement
                  and, if
                  the Buydown Funds were provided by the Seller and if required under
                  Underwriting
                  Guidelines with respect to the Seller Mortgage Loans (other than
                  the
                  exceptions identified for Exception Mortgage Loans on the related
                  Assignment and Conveyance Agreement) or the Third-Party Underwriting
                  Guidelines with respect to Third-Party Mortgage Loans, as
                  applicable,
                  the terms of the Buydown Agreement were disclosed to the appraiser
                  of the
                  Mortgaged Property;

              

      

      

      
        	 	
                (3)

              	
                The
                  Buydown Funds may not be refunded to the Mortgagor unless the Mortgagor
                  makes a principal payment for the outstanding balance of the Mortgage
                  Loan; and

              

      

      

      
        	(4)  	
                As
                  of the date of origination of the Mortgage Loan, the provisions
                  of the
                  related Buydown Agreement complied with the Underwriting
                  Guidelines (other than the exceptions identified for Exception
                  Mortgage
                  Loans on the related Assignment and Conveyance Agreement) or the
                  Third-Party Underwriting Guidelines, as applicable
                  regarding buydown agreements;

              

      

      

      
        	 	
                (xxxviii)

              	
                Cooperative
                  Loans.

              

      

      

      With
        respect to each Cooperative Loan:

      

      
        	 	
                (1)

              	
                The
                  Cooperative Shares are held by a person as a tenant-stockholder
                  in a
                  Cooperative. Each original UCC financing statement, continuation
                  statement
                  or other governmental filing or recordation necessary to create
                  or
                  preserve the perfection and priority of the first lien and security
                  interest in the Cooperative Loan and Proprietary Lease has been
                  timely and
                  properly made. Any security agreement, chattel mortgage or equivalent
                  document related to the Cooperative Loan and delivered to Purchaser
                  or its
                  designee establishes in Purchaser a valid and subsisting perfected
                  first
                  lien on and security interest in the Mortgaged Property described
                  therein,
                  and Purchaser has full right to sell and assign the
                  same;

              

      

      

      
        	 	
                (2)

              	
                A
                  Cooperative Lien Search has been made by a company competent to
                  make the
                  same which company is acceptable to Fannie Mae or Freddie Mac and
                  qualified to do business in the jurisdiction where the Cooperative
                  is
                  located;

              

      

      

      
        	 	
                (3)

              	
                (i)
                  The term of the related Proprietary Lease is not less than the
                  terms of
                  the Cooperative Loan; (ii) there is no provision in any Proprietary
                  Lease
                  which requires the Mortgagor to offer for sale the Cooperative
                  Shares
                  owned by such Mortgagor first to the Cooperative; (iii) there is
                  no
                  prohibition in any Proprietary Lease against pledging the Cooperative
                  Shares or assigning the Proprietary Lease; (iv) the Cooperative
                  has been
                  created and exists in full compliance with the requirements for
                  residential cooperatives in the jurisdiction in which the Project
                  is
                  located and qualifies as a cooperative housing corporation under
                  Section
                  210 of the Code; (v) the Recognition Agreement is on a form published
                  by
                  Aztech Document Services, Inc. or includes similar provisions;
                  and (vi)
                  the Cooperative has good and marketable title to the Project, and
                  owns the
                  Project either in fee simple; such title is free and clear of any
                  adverse
                  liens or encumbrances, except the lien of any blanket
                  mortgage;

              

      

      

      
        	(4)         
                 	
                The
                  Seller has the right under the terms of the Mortgage Note, Pledge
                  Agreement and Recognition Agreement to pay any maintenance charges
                  or
                  assessments owed by the Mortgagor;
                  and

              

      

      

      
        	(5)           	
                Each
                  Stock Power (i) has all signatures guaranteed or (ii) if all signatures
                  are not guaranteed, then such Cooperative Shares will be transferred
                  by
                  the stock transfer agent of the Cooperative if the Seller undertakes
                  to
                  convert the ownership of the collateral securing the related Cooperative
                  Loan.;

              

      

      

      (xxxix) HOEPA.

      

      No
        Mortgage Loan is a Covered Loan or a High Cost Loan (in the case of state
        or
        local law, as determined without giving effect to any available federal
        preemption, other than any exemptions specifically provided for in the relevant
        state or local law);

      

      (xl) Anti-Money
        Laundering Laws.

      

      The
        Seller has complied with all applicable anti-money laundering laws and
        regulations, (the "Anti-Money Laundering Laws"), and has established an
        anti-money laundering compliance program as required by the Anti-Money
        Laundering Laws;

      

      (xli) Bankruptcy.

      

      
        	 	 	
                No
                  Mortgagor was a debtor in any state or federal bankruptcy or insolvency
                  proceeding as of the date the Mortgage Loan was closed and the
                  proceeds of
                  the Mortgage Loan were distributed;

              

      

      

      (xlii) Due
        on
        Sale.

      

      The
        Mortgage or Mortgage Note contains an enforceable provision, to the extent
        not
        prohibited by federal law, for the acceleration of the payment of the unpaid
        principal balance of the Mortgage Loan in the event that the Mortgaged Property
        is sold or transferred without the prior written consent of the Mortgagee
        thereunder, provided that, with respect to Mortgage Notes which bear an
        adjustable rate of interest, such provision shall not be enforceable if the
        Mortgagor causes to be submitted to the Seller to evaluate the intended
        transferee as if a new Mortgage Loan were being made to such transferee,
        and the
        Seller reasonably determines that the security will not be impaired by such
        Mortgage Loan assumption and that the risk of breach of any covenant or
        agreement in such Mortgage is acceptable to the Purchaser;

      

      (xliii) Credit
        Reporting.

      

      With
        respect to each Mortgage Loan, the Seller has furnished complete information
        on
        the related borrower credit files to Equifax, Experian and Trans Union Credit
        Information Seller, in accordance with the Fair Credit Reporting Act and
        its
        implementing regulations; 

      

      (xliv) Delivery
        of Custodial Mortgage Files.

      

      The
        Mortgage Loan Documents contained in the Custodial Mortgage File required
        to be
        delivered by the Seller have been delivered to the Custodian. The Seller
        is in
        possession of a complete, true and accurate Retained Mortgage File, except
        for
        such documents where the originals of which have been sent for
        recordation;

      

      (xlv) Single
        Premium Credit Life Insurance.

      

      No
        Mortgagor has been offered or required to purchase single premium credit
        insurance in connection with the origination of the Mortgage Loan;

      

      (xlvi) Payment
        in Full.

      

      The
        Seller had no knowledge, at the time of origination of the Mortgage Loan,
        of any
        fact that should have led it to expect that such Mortgage Loan would not
        be paid
        in full when due; 

      

      (xlvii) MERS
        Mortgage Loans.

      

      With
        respect to each MERS Mortgage Loan, a MIN has been assigned to the Mortgage
        Loan, the MIN appears on the Mortgage or related Assignment of Mortgage to
        MERS,
        the Mortgage or the related Assignment of Mortgage to MERS has been duly
        and
        properly recorded on MERS, and the transfer to the Purchaser has been properly
        reflected in the MERS System pursuant to the Purchaser’s registration
        instructions; 

      

      (xlviii) Leasehold
        Estates.

      

      With
        respect to each Mortgage Loan secured in whole or in part by the interest
        of the
        Mortgagor as a lessee under a ground lease of the related Mortgaged Property
        (a
“Ground Lease”) and not be a fee interest in such Mortgaged
        Property:

       

      

        
          	
                  (1)

                	
                  The
                    Mortgagor is the owner of a valid and subsisting interest as
                    tenant under
                    the Ground Lease;

                
	 	 
	
                  (2)

                	
                  The
                    Ground Lease is in full force and effect, unmodified and not
                    supplement by
                    any writing;

                
	 	 
	
                  (3)

                	
                  The
                    Mortgagor is not in default under any provision of the lease;
                    

                
	 	 
	
                  (4)

                	
                  The
                    lessor under the Ground Lease is not in default under any of
                    the terms or
                    provisions thereof on the part of the lessor to be observed or
                    performed;

                
	 	 
	
                  (5)

                	
                  The
                    term of the Ground Lease exceeds the maturity date of the related
                    Mortgage
                    Loan by at least five (5) years;

                
	 	 
	
                  (6)

                	
                  The
                    Mortgagee under the Mortgage Loan is given at least sixty (60)
                    days’
                    notice of any default and an opportunity to cure any defaults
                    under the
                    Ground Lease or to take over the Mortgagor’s rights under the Ground
                    Lease;

                
	 	 
	
                  (7)

                	
                  The
                    Ground Lease does not contain any default provisions that could
                    result in
                    forfeiture or termination of the Ground Lease except for non-payment
                    of
                    the Ground Lease or a court order.

                
	 	 
	
                  (8)

                	
                  The
                    Ground Lease provides that the leasehold can be transferred,
                    mortgaged and
                    sublet an unlimited number of times either without restriction
                    or on
                    payment of a reasonable fee and delivery of reasonable documentation
                    to
                    the lessor;

                
	 	 
	
                  (9)

                	
                  The
                    Ground Lease or a memorandum thereof has been recorded and by
                    its terms
                    permits the leasehold estate to be mortgaged; and

                
	 	 
	
                  (10)

                	
                  The
                    execution, delivery and performance of the Mortgage do not require
                    consent
                    (other than those consents which have been obtained and are in
                    full force
                    and effect) under, and will not contravene any provision of or
                    cause a
                    default under, the Ground Lease;
                    

                

        

      

       

      (xlix) Mixed-Use
        Property.

      

      No
        Mortgaged Property shall be used solely for commercial purposes. With respect
        to
        any Mortgaged Property that is a mixed-use property (i) the Mortgaged Property
        is a single family dwelling, (ii) any commercial use of the Mortgaged Property
        represents a legal, permissible use of the Mortgaged Property under federal,
        state and local laws and ordinances; (iii) the Mortgagor is both the owner
        and
        the operator of the business conducted on the Mortgaged Property; and (iv)
        income from the business use of the Mortgaged Property was not taken into
        account in determining the Appraised Value of the Mortgaged Property. The
        Mortgaged Property with respect to each mixed-use property is in material
        compliance with all applicable environmental laws pertaining to environmental
        hazards and neither the Company nor, to the Company’s knowledge, the related
        Mortgagor, has received any notice of any violation or potential violation
        of
        such law;

      
        	 	 

      

      
        	 	
                (xlx) 
                  Prepayment
                  Charge Enforceability.
                  

              

      

      
        	 	 

      

      The
        Mortgage Loan Documents with respect to each Mortgage Loan subject to Prepayment
        Charge specifically authorizes such Prepayment Charge to be collected, such
        Prepayment Charge is permissible and enforceable in accordance with the terms
        of
        the related Mortgage Loan Documents and all federal, state and local laws
        applicable to the Mortgage Loans (except to the extent that the enforceability
        thereof may be limited by bankruptcy, insolvency, moratorium, receivership
        and
        other similar laws relating to creditors’ rights generally or the collectability
        thereof may be limited due to acceleration in connection with a
        foreclosure);

      

      
        	 	
                (xlxi) 
                  Prepayment
                  Charge Amount and Duration.
                  

              

      

      

      Each
        such Prepayment Charge is in an amount equal to the maximum amount permitted
        under applicable law and no Mortgage Loan originated on or after October
        1, 2002
        provides for the payment of a Prepayment Penalty beyond the three-year term
        following the origination of the Mortgage Loan. No Mortgage Loan
        originated prior to such date provides for the payment of a Prepayment Penalty
        beyond the five-year term following the origination of the Mortgage Loan;
        

      

      (xlxii) Valid
        Second Lien.

       

      With
        respect to any Second Lien Mortgage Loan, such Mortgage is a valid, subsisting
        and enforceable Second Lien on the Mortgaged Property, including all buildings
        on the Mortgaged Property and all installations and mechanical, electrical,
        plumbing, heating and air conditioning systems located in or annexed to such
        buildings, and all additions, alterations and replacements made at any time
        with
        respect to the foregoing. The lien of such Mortgage is subject only
        to:

       

      
        	 	
                (1)

              	
                the
                  lien of current real property taxes and assessments not yet due
                  and
                  payable;

              

      

       

      
        	 	
                (2)

              	
                superior
                  position mortgage lien(s) acceptable in accordance with the Underwriting
                  Guidelines with respect to the Seller Mortgage Loans (other than
                  the
                  exceptions identified for Exception Mortgage Loans on the related
                  Assignment and Conveyance Agreement) or the Third-Party Underwriting
                  Guidelines with respect to Third-Party Mortgage Loans, as
                  applicable;

              

      

       

      
        	 	
                (3)

              	
                covenants,
                  conditions and restrictions, rights of way, easements and other
                  matters of
                  the public record as of the date of recording acceptable to mortgage
                  lending institutions in accordance with Accepted Servicing Practices
                  and
                  (i) referred to or otherwise considered in the appraisal and (ii)
                  which do
                  not adversely affect the Appraised Value;
                  and

              

      

       

      
        	 	
                (4)

              	
                other
                  matters to which like properties are commonly subject which do
                  not
                  materially interfere with the benefits of the security intended
                  to be
                  provided by the mortgage or the use, enjoyment, value or marketability
                  of
                  the related Mortgaged Property.

              

      

       

      Any
        security agreement, chattel mortgage or equivalent document related to
        and
        delivered in connection with such Mortgage Loan establishes and creates
        a
        valid, subsisting, and enforceable Second Lien and second lien security
        interest on the property described herein and the Seller has full right
        to
        sell and assign the same to the Purchaser. With respect to each Second
        Lien Mortgage Loan: (a) the First Lien is in full force and effect, (b)
        there
        is no default, breach, violation or event of acceleration existing under
        such First Lien Mortgage or the related Mortgage Note, (c) if the related
        First Lien Mortgage Loan provides for negative amortization, the LTV
        was
        calculated at the maximum principal balance of such First Lien that
        could result upon application of such negative amortization feature,
(d)
        either no consent for the Second Lien Mortgage Loan is required by the
        holder of the First Lien or such consent has been obtained and is contained
        in the Mortgage Loan Documents and (e) no event which, with the
        passage of time or with notice and the expiration of any grace or cure
period,
        would constitute a default, breach, violation or event or acceleration
        under the related First Lien Mortgage Loan; 

      

      (xlxiii) Manufactured
        Housing.

      

      No
        Mortgage Loan is secured by manufactured housing;

      

      (xlxiv) New
        Jersey Purchase Money Second Lien Mortgage Loans.

      

      With
        respect to any purchase money Second Lien Mortgage Loans subject to the New
        Jersey Home Ownership Security Act of 2002 (P.L. 2003, c.46:10B-27), one
        hundred
        percent of the amount financed was used for the purchase of the related
        Mortgaged Property;

      

      (xlxv)
        Prepayment
        Penalties.

       

      Each
        prepayment penalty with respect to any Assigned Loan is permissible, enforceable
        and collectible under applicable federal, state and local law and each such
        prepayment penalty actually charged to the related borrower is in accordance
        with the prepayment penalty matrices set forth in Exhibit B.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      Prepayment
        Penalty Matrix

      

      AVAILABLE
        UPON REQUEST

     

     

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      E

     

    REQUEST
      FOR RELEASE

     

    TO:         Citibank
      West

    5280
      Corporate Drive

    MS
      0052

    Frederick,
      MD 21703

    

    Re: Pooling
      and Servicing Agreement dated as of March 1, 2007, among Citigroup Mortgage
      Loan
      Trust Inc., as Depositor, Wells Fargo Bank, N.A. as Servicer, Citibank,
N.A.
      as Trust Administrator and U.S. Bank National Association as
      Trustee  

     

    In
      connection with the administration of the Mortgage Loans held by you as Trustee
      for the Owner pursuant to the above-captioned Agreement, we request the release,
      and hereby acknowledge receipt, of the Trustee's Mortgage File for the Mortgage
      Loan described below, for the reason indicated.

     

    Mortgage
      Loan Number:

    Mortgagor
      Name, Address & Zip Code:

     

    Reason
      for Requesting Documents (check one):

     

    
      	
              ______________

               

            	
              1.

               

            	
              Mortgage
                Paid in Full

               

            
	
              ______________

               

            	
              2.

               

            	
              Foreclosure

               

            
	
              ______________

               

            	
              3.

               

            	
              Substitution

               

            
	
              ______________

               

            	
              4.

               

            	
              Other
                Liquidation (Repurchases, etc.)

               

            
	
              ______________

               

            	
              5.

               

            	
              Nonliquidation

               

            

    

    

     

    Reason:______________________________________________

     

    Address
      to which Trustee should

    Deliver
      the Custodian's Mortgage File:

     

    [____________]

    [____________]

     

    

    
      	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	
              Issuer:

            	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Address:

            	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	
              Date:

            	 	 	 

    

    

     

    Trustee

     

     

    U.S.
      BANK
      NATIONAL ASSOCIATION

     

     

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

     

    
      	
               

              _____________________________________

            	 
	
              Signature

            	
              Date

            
	 	 
	
              Documents
                returned to Trustee:

            	 
	 	 
	
              ____________________________________

            	 
	
              Trustee

               

            	
              Date

               

            

    

    

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      F-1

     

    FORM
      OF
      TRANSFEROR REPRESENTATION LETTER

     

    [Date]

    

    Citibank,
      N.A.

    388
      Greenwich Street, 14th Floor

    New
      York,
      NY 10013

     

    
      	 	
              Re:

            	
              Citigroup
                Mortgage Loan Trust Inc., Asset-Backed Pass-Through
                Certificates,
                Series 2007-WFHE2, Class , representing a % Class Percentage
                Interest

            

    

     

    Ladies
      and Gentlemen:

     

    In
      connection with the transfer by ________________ (the “Transferor”) to
      ________________ (the “Transferee”) of the captioned mortgage pass-through
      certificates (the “Certificates”), the Transferor hereby certifies as
      follows:

     

    Neither
      the Transferor nor anyone acting on its behalf has (a) offered, pledged, sold,
      disposed of or otherwise transferred any Certificate, any interest in any
      Certificate or any other similar security to any person in any manner, (b)
      has
      solicited any offer to buy or to accept a pledge, disposition or other transfer
      of any Certificate, any interest in any Certificate or any other similar
      security from any person in any manner, (c) has otherwise approached or
      negotiated with respect to any Certificate, any interest in any Certificate
      or
      any other similar security with any person in any manner, (d) has made any
      general solicitation by means of general advertising or in any other manner,
      (e)
      has taken any other action, that (in the case of each of subclauses (a) through
      (e) above) would constitute a distribution of the Certificates under the
      Securities Act of 1933, as amended (the “1933 Act”), or would render the
      disposition of any Certificate a violation of Section 5 of the 1933 Act or
      any
      state securities law or would require registration or qualification pursuant
      thereto. The Transferor will not act, nor has it authorized or will it authorize
      any person to act, in any manner set forth in the foregoing sentence with
      respect to any Certificate. The Transferor will not sell or otherwise transfer
      any of the Certificates, except in compliance with the provisions of that
      certain Pooling and Servicing Agreement dated as of March 1, 2007, among
      Citigroup Mortgage Loan Trust Inc., as Depositor, Wells Fargo Bank, N.A. as
      Servicer, Citibank, N.A. as trust administrator and U.S. Bank National
      Association as Trustee (the “Pooling and Servicing Agreement”), pursuant to
      which Pooling and Servicing Agreement the Certificates were issued.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Capitalized
      terms used but not defined herein shall have the meanings assigned thereto
      in
      the Pooling and Servicing Agreement.

     

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [Transferor]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    FORM
      OF
      TRANSFEREE REPRESENTATION LETTER

     

    [Date]

    Citibank,
      N.A.

    388
      Greenwich Street, 14th Floor

    New
      York,
      NY 10013

     

    
      	 	
              Re:

            	
              Citigroup
                Mortgage Loan Trust Inc., Asset-Backed Pass-Through
                Certificates,
                Class, Series 2007-WFHE2, representing a % Percentage
                Interest  

            

    

     

    Ladies
      and Gentlemen:

     

    In
      connection with the purchase from ______________________ (the “Transferor”) on
      the date hereof of the captioned trust certificates (the “Certificates”),
      _______________ (the “Transferee”) hereby certifies as follows:

     

    1. The
      Transferee is a “qualified institutional buyer” as that term is defined in Rule
      144A (“Rule 144A”) under the Securities Act of 1933 (the “1933 Act”) and has
      completed either of the forms of certification to that effect attached hereto
      as
      Annex 1 or Annex 2. The Transferee is aware that the sale to it is being made
      in
      reliance on Rule 144A. The Transferee is acquiring the Certificates for its
      own
      account or for the account of a qualified institutional buyer, and understands
      that such Certificate may be resold, pledged or transferred only (i) to a person
      reasonably believed to be a qualified institutional buyer that purchases for
      its
      own account or for the account of a qualified institutional buyer to whom notice
      is given that the resale, pledge or transfer is being made in reliance on Rule
      144A, or (ii) pursuant to another exemption from registration under the 1933
      Act.

     

    2. The
      Transferee has been furnished with all information regarding (a) the
      Certificates and distributions thereon, (b) the nature, performance and
      servicing of the Mortgage Loans, (c) the Pooling and Servicing Agreement
      referred to below, and (d) any credit enhancement mechanism associated with
      the
      Certificates, that it has requested.

     

    All
      capitalized terms used but not otherwise defined herein have the respective
      meanings assigned thereto in the Pooling and Servicing Agreement dated as of
      March 1, 2007, among Citigroup Mortgage Loan Trust Inc., as Depositor, Wells
      Fargo Bank, N.A. as Servicer, Citibank, N.A. as trust administrator and U.S.
      Bank National Association as Trustee ,
      pursuant to which the Certificates were issued.

     

    
      	 	 	 	 	 	 	 	
              [Transferee]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ANNEX
      1 TO EXHIBIT F

    QUALIFIED
      INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

     

    [For
      Transferees Other Than Registered Investment Companies]

     

    The
      undersigned hereby certifies as follows to [name of Transferor] (the
“Transferor”) and U.S. Bank National Association, as Trustee, with
      respect to the mortgage pass-through certificates
      (the
“Certificates”) described in the Transferee Certificate to which this
      certification relates and to which this certification is an Annex:

     

    
      	 	
              1.

            	
              As
                indicated below, the undersigned is the President, Chief Financial
                Officer, Senior Vice President or other executive officer of the
                entity
                purchasing the Certificates (the “Transferee”).

            
	 	
              2.

            	
              In
                connection with purchases by the Transferee, the Transferee is a
                “qualified institutional buyer” as that term is defined in Rule 144A under
                the Securities Act of 1933 (“Rule 144A”) because (i) the Transferee owned
                and/or invested on a discretionary basis
                $______________________1 
                in
                securities (except for the excluded securities referred to below)
                as of
                the end of the Transferee's most recent fiscal year (such amount
                being
                calculated in accordance with Rule 144A) and (ii) the Transferee
                satisfies
                the criteria in the category marked below.

            
	 	
              ___

            	
              CORPORATION,
                ETC. The Transferee is a corporation (other than a bank, savings
                and loan
                association or similar institution), Massachusetts or similar business
                trust, partnership, or any organization described in Section 501(c)(3)
                of
                the Internal Revenue Code of 1986.

            
	 	
              ___

            	
              BANK.
                The Transferee (a) is a national bank or banking institution organized
                under the laws of any State, territory or the District of Columbia,
                the
                business of which is substantially confined to banking and is supervised
                by the State or territorial banking commission or similar official
                or is a
                foreign bank or equivalent institution, and (b) has an audited net
                worth
                of at least $25,000,000 as demonstrated in its latest annual financial
                statements, a copy of which is attached hereto.

            
	 	
              ___

            	
              SAVINGS
                AND LOAN. The Transferee (a) is a savings and loan association, building
                and loan association, cooperative bank, homestead association or
                similar
                institution, which is supervised and examined by a State or Federal
                authority having supervision over any such institutions or is a foreign
                savings and loan association or equivalent institution and (b) has
                an
                audited net worth of at least

            
	 	
              ___

            	
              BROKER-DEALER.
                The Transferee is a dealer registered pursuant to Section 15 of the
                Securities Exchange Act of 1934.

            

    

     

    
      _______________________________

      1 Transferee
        must own and/or invest on a discretionary basis at least $100,000,000 in
        securities unless Transferee is a dealer, and, in that case, Transferee must
        own
        and/or invest on a discretionary basis at least $10,000,000 in securities.
        $25,000,000 as demonstrated in its latest annual financial statements, A
        COPY OF
        WHICH IS ATTACHED HERETO.

    

     

     

     

    
      	 	
              ___

            	
              INSURANCE
                COMPANY. The Transferee is an insurance company whose primary and
                predominant business activity is the writing of insurance or the
                reinsuring of risks underwritten by insurance companies and which
                is
                subject to supervision by the insurance commissioner or a similar
                official
                or agency of a State, territory or the District of
                Columbia.

            
	 	
              ___

            	
              STATE
                OR LOCAL PLAN. The Transferee is a plan established and maintained
                by a
                State, its political subdivisions, or any agency or instrumentality
                of the
                State or its political subdivisions, for the benefit of its
                employees.

            
	 	
              ___

            	
              ERISA
                PLAN. The Transferee is an employee benefit plan within the meaning
                of
                Title I of the Employee Retirement Income Security Act of
                1974.

            
	 	
              ___

            	
              INVESTMENT
                ADVISOR. The Transferee is an investment advisor registered under
                the
                Investment Advisers Act of 1940.

            
	 	
              3.

            	
              The
                term “SECURITIES” as used herein DOES NOT INCLUDE (i) securities of
                issuers that are affiliated with the Transferee, (ii) securities
                that are
                part of an unsold allotment to or subscription by the Transferee,
                if the
                Transferee is a dealer, (iii) securities issued or guaranteed by
                the U.S.
                or any instrumentality thereof, (iv) bank deposit notes and certificates
                of deposit, (v) loan participations, (vi) repurchase agreements,
                (vii)
                securities owned but subject to a repurchase agreement and (viii)
                currency, interest rate and commodity swaps.

            
	 	
              4.

            	
              For
                purposes of determining the aggregate amount of securities owned
                and/or
                invested on a discretionary basis by the Transferee, the Transferee
                used
                the cost of such securities to the Transferee and did not include
                any of
                the securities referred to in the preceding paragraph. Further, in
                determining such aggregate amount, the Transferee may have included
                securities owned by subsidiaries of the Transferee, but only if such
                subsidiaries are consolidated with the Transferee in its financial
                statements prepared in accordance with generally accepted accounting
                principles and if the investments of such subsidiaries are managed
                under
                the Transferee's direction. However, such securities were not included
                if
                the Transferee is a majority-owned, consolidated subsidiary of another
                enterprise and the Transferee is not itself a reporting company under
                the
                Securities Exchange Act of 1934.

            
	 	
              5.

            	
              The
                Transferee acknowledges that it is familiar with Rule 144A and understands
                that the Transferor and other parties related to the Certificates
                are
                relying and will continue to rely on the statements made herein because
                one or more sales to the Transferee may be in reliance on Rule
                144A.

            

    

    

    
      	
              ___

               

              Yes

               

            	
              ___

               

              No

               

            	
              Will
                the Transferee be purchasing the Certificates only for the Transferee's
                own account?

               

            

    

    

    
      	 	
              6.

            	
              If
                the answer to the foregoing question is “no”, the Transferee agrees that,
                in connection with any purchase of securities sold to the Transferee
                for
                the account of a third party (including any separate account) in
                reliance
                on Rule 144A, the Transferee will only purchase for the account of
                a third
                party that at the time is a “qualified institutional buyer” within the
                meaning of Rule 144A. In addition, the Transferee agrees that the
                Transferee will not purchase securities for a third party unless
                the
                Transferee has obtained a current representation letter from such
                third
                party or taken other appropriate steps contemplated by Rule 144A
                to
                conclude that such third party independently meets the definition
                of
                “qualified institutional buyer” set forth in Rule 144A.

            
	 	
              7.

            	
              The
                Transferee will notify each of the parties to which this certification
                is
                made of any changes in the information and conclusions herein. Until
                such
                notice is given, the Transferee's purchase of the Certificates will
                constitute a reaffirmation of this certification as of the date of
                such
                purchase. In addition, if the Transferee is a bank or savings and
                loan as
                provided above, the Transferee agrees that it will furnish to such
                parties
                updated annual financial statements promptly after they become
                available.

            
	 	 	 
	 	 	 

    

    

    
      	
              Dated:

            	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Print
                Name of Transferee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ANNEX
      2 TO EXHIBIT F

     

    QUALIFIED
      INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

     

    [For
      Transferees That Are Registered Investment Companies]

     

    The
      undersigned hereby certifies as follows to [name of Transferor] (the
“Transferor”) and U.S. Bank National Association, as Trustee, with respect to
      the mortgage pass- through certificates (the “Certificates”) described in the
      Transferee Certificate to which this certification relates and to which this
      certification is an Annex:

     

    1.  As
      indicated below, the undersigned is the President, Chief Financial Officer
      or
      Senior Vice President of the entity purchasing the Certificates (the
“Transferee”) or, if the Transferee is a “qualified institutional buyer” as that
      term is defined in Rule 144A under the Securities Act of 1933 (“Rule 144A”)
      because the Transferee is part of a Family of Investment Companies (as defined
      below), is such an officer of the investment adviser (the
“Adviser”).

     

    2.  In
      connection with purchases by the Transferee, the Transferee is a “qualified
      institutional buyer” as defined in Rule 144A because (i) the Transferee is an
      investment company registered under the Investment Company Act of 1940, and
      (ii)
      as marked below, the Transferee alone, or the Transferee's Family of Investment
      Companies, owned at least $100,000,000 in securities (other than the excluded
      securities referred to below) as of the end of the Transferee's most recent
      fiscal year. For purposes of determining the amount of securities owned by
      the
      Transferee or the Transferee's Family of Investment Companies, the cost of
      such
      securities was used.

     

    ____
      The
      Transferee owned $___________________ in securities (other than the excluded
      securities referred to below) as of the end of the Transferee's most recent
      fiscal year (such amount being calculated in accordance with Rule
      144A).

     

    ____
      The
      Transferee is part of a Family of Investment Companies which owned in the
      aggregate $______________ in securities (other than the excluded securities
      referred to below) as of the end of the Transferee's most recent fiscal year
      (such amount being calculated in accordance with Rule 144A).

     

    3.  The
      term
“FAMILY OF INVESTMENT COMPANIES” as used herein means two or more registered
      investment companies (or series thereof) that have the same investment adviser
      or investment advisers that are affiliated (by virtue of being majority owned
      subsidiaries of the same parent or because one investment adviser is a majority
      owned subsidiary of the other).

     

    4.  The
      term
“SECURITIES” as used herein does not include (i) securities of issuers that are
      affiliated with the Transferee or are part of the Transferee's Family of
      Investment Companies, (ii) securities issued or guaranteed by the U.S. or any
      instrumentality thereof, (iii) bank deposit notes and certificates of deposit,
      (iv) loan participations, (v) repurchase agreements, (vi) securities owned
      but
      subject to a repurchase agreement and (vii) currency, interest rate and
      commodity swaps.

     

    5.  The
      Transferee is familiar with Rule 144A and understands that the parties to which
      this certification is being made are relying and will continue to rely on the
      statements made herein because one or more sales to the Transferee will be
      in
      reliance on Rule 144A. In addition, the Transferee will only purchase for the
      Transferee's own account.

     

    6.  The
      undersigned will notify the parties to which this certification is made of
      any
      changes in the information and conclusions herein. Until such notice, the
      Transferee's purchase of the Certificates will constitute a reaffirmation of
      this certification by the undersigned as of the date of such
      purchase.

     

    
      	 	 	 	 	 	 	 	
              Dated:

            	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Print
                Name of Transferee or Advisor

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              IF
                AN ADVISER:

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Print
                Name of Transferee

            

    

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    FORM
      OF TRANSFEREE REPRESENTATION LETTER

     

    The
      undersigned hereby certifies on behalf of the purchaser named below (the
“Purchaser”) as follows:

     

    
      	
              1.

               

            	
              I
                am an executive officer of the Purchaser.

               

            
	
              2.

               

            	
              The
                Purchaser is a “qualified institutional buyer”, as defined in Rule 144A,
                (“Rule 144A”) under the Securities Act of 1933, as amended.

               

            
	
              3.

               

            	
              As
                of the date specified below (which is not earlier than the last day
                of the
                Purchaser's most recent fiscal year), the amount of “securities”, computed
                for purposes of Rule 144A, owned and invested on a discretionary
                basis by
                the Purchaser was in excess of $100,000,000.

               

            

    

    

    
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Name
                of Purchaser

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Date
                of this certificate:

               

            
	 	 	 	 	 	 	
              Date
                of information provided in paragraph 3

               

            

    

    

    
 

    

     

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      F-2

     

    

     

    FORM
      OF
      RESIDUAL CERTIFICATE TRANSFER AFFIDAVIT

     

    
      	
              STATE
                OF

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF

            	
              )

            	 

    

    

     

    The
      undersigned, being first duly sworn, deposes and says as follows:

     

    1.  The
      undersigned is an officer of, the proposed Transferee of an Ownership Interest
      in a Residual Certificate (the “Certificate”)
      issued
      pursuant to the Pooling and Servicing Agreement dated as of March 1, 2007 (the
      “Agreement”),
      among
      Citigroup Mortgage Loan Trust Inc., as depositor (the “Depositor”),
      Wells
      Fargo Bank, N.A. as Servicer, (the “Servicer”), Citibank, N.A. as trust
      administrator and U.S. Bank National Association, as trustee (the “Trustee”).
      Capitalized terms used, but not defined herein or in Exhibit 1 hereto,
      shall have the meanings ascribed to such terms in the Agreement. The Transferee
      has authorized the undersigned to make this affidavit on behalf of the
      Transferee for the benefit of the Depositor and the Trustee.

     

    2.  The
      Transferee is, as of the date hereof, and will be, as of the date of the
      Transfer, a Permitted Transferee. The Transferee is acquiring its Ownership
      Interest in the Certificate for its own account. The Transferee has no knowledge
      that any such affidavit is false.

     

    3.  The
      Transferee has been advised of, and understands that (i) a tax will be
      imposed on Transfers of the Certificate to Persons that are not Permitted
      Transferees; (ii) such tax will be imposed on the transferor, or, if such
      Transfer is through an agent (which includes a broker, nominee or middleman)
      for
      a Person that is not a Permitted Transferee, on the agent; and (iii) the
      Person otherwise liable for the tax shall be relieved of liability for the
      tax
      if the subsequent Transferee furnished to such Person an affidavit that such
      subsequent Transferee is a Permitted Transferee and, at the time of Transfer,
      such Person does not have actual knowledge that the affidavit is
      false.

     

    4.  The
      Transferee has been advised of, and understands that a tax will be imposed
      on a
“pass-through entity” holding the Certificate if at any time during the taxable
      year of the pass-through entity a Person that is not a Permitted Transferee
      is
      the record holder of an interest in such entity. The Transferee understands
      that
      such tax will not be imposed for any period with respect to which the record
      holder furnishes to the pass-through entity an affidavit that such record holder
      is a Permitted Transferee and the pass-through entity does not have actual
      knowledge that such affidavit is false. (For this purpose, a “pass-through
      entity” includes a regulated investment company, a real estate investment trust
      or common trust fund, a partnership, trust or estate, and certain cooperatives
      and, except as may be provided in Treasury Regulations, persons holding
      interests in pass-through entities as a nominee for another
      Person.)

     

    5.  The
      Transferee has reviewed the provisions of Section 5.02(d) of the Agreement
      and understands the legal consequences of the acquisition of an Ownership
      Interest in the Certificate including, without limitation, the restrictions
      on
      subsequent Transfers and the provisions regarding voiding the Transfer and
      mandatory sales. The Transferee expressly agrees to be bound by and to abide
      by
      the provisions of Section 5.02(d) of the Agreement and the restrictions
      noted on the face of the Certificate. The Transferee understands and agrees
      that
      any breach of any of the representations included herein shall render the
      Transfer to the Transferee contemplated hereby null and void.

     

    6.  The
      Transferee agrees to require a Transfer Affidavit from any Person to whom the
      Transferee attempts to Transfer its Ownership Interest in the Certificate,
      and
      in connection with any Transfer by a Person for whom the Transferee is acting
      as
      nominee, trustee or agent, and the Transferee will not Transfer its Ownership
      Interest or cause any Ownership Interest to be Transferred to any Person that
      the Transferee knows is not a Permitted Transferee. In connection with any
      such
      Transfer by the Transferee, the Transferee agrees to deliver to the Trustee
      a
      certificate substantially in the form set forth as Exhibit L to the
      Agreement (a “Transferor
      Certificate”)
      to the
      effect that such Transferee has no actual knowledge that the Person to which
      the
      Transfer is to be made is not a Permitted Transferee.

     

    7.  The
      Transferee has historically paid its debts as they have come due, intends to
      pay
      its debts as they come due in the future, and understands that the taxes payable
      with respect to the Certificate may exceed the cash flow with respect thereto
      in
      some or all periods and intends to pay such taxes as they become due. The
      Transferee does not have the intention to impede the assessment or collection
      of
      any tax legally required to be paid with respect to the
      Certificate.

     

    8.  The
      Transferee’s taxpayer identification number is ___________.

     

    9.  The
      Transferee is a U.S. Person as defined in Code
      Section 7701(a)(30).

     

    10.  The
      Transferee is aware that the Certificate may be a “noneconomic residual
      interest” within the meaning of proposed Treasury regulations promulgated
      pursuant to the Code and that the transferor of a noneconomic residual interest
      will remain liable for any taxes due with respect to the income on such residual
      interest, unless no significant purpose of the transfer was to impede the
      assessment or collection of tax.

     

    11.  The
      Transferee will not cause income from the Certificate to be attributable to
      a
      foreign permanent establishment or fixed base, within the meaning of an
      applicable income tax treaty, of the Transferee or any other U.S.
      person.

     

    12.  Check
      one
      of the following:

     

      The
      present value of the anticipated tax liabilities associated with holding the
      Certificate, as applicable, does not exceed the sum of:

     

    
      	 	
              (i)

            	
              the
                present value of any consideration given to the Transferee to acquire
                such
                Certificate;

            

    

     

    
      	 	
              (ii)

            	
              the
                present value of the expected future distributions on such Certificate;
                and

            

    

     

    
      	 	
              (iii)

            	
              the
                present value of the anticipated tax savings associated with holding
                such
                Certificate as the related REMIC generates
                losses.

            

    

     

    For
      purposes of this calculation, (i) the Transferee is assumed to pay tax at the
      highest rate currently specified in Section 11(b) of the Code (but the tax
      rate
      in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate
      specified in Section 11(b) of the Code if the Transferee has been subject to
      the
      alternative minimum tax under Section 55 of the Code in the preceding two years
      and will compute its taxable income in the current taxable year using the
      alternative minimum tax rate) and (ii) present values are computed using a
      discount rate equal to the short-term Federal rate prescribed by Section 1274(d)
      of the Code for the month of the transfer and the compounding period used by
      the
      Transferee.

     

      The
      transfer of the Certificate complies with U.S. Treasury Regulations Sections
      1.860E-1(c)(5) and (6) and, accordingly,

     

    
      	 	
              (i)

            	
              the
                Transferee is an “eligible corporation,” as defined in U.S. Treasury
                Regulations Section 1.860E-1(c)(6)(i), as to which income from the
                Certificate will only be taxed in the United
                States;

            

    

     

    
      	 	
              (ii)

            	
              at
                the time of the transfer, and at the close of the Transferee’s two fiscal
                years preceding the year of the transfer, the Transferee had gross
                assets
                for financial reporting purposes (excluding any obligation of a person
                related to the Transferee within the meaning of U.S. Treasury Regulations
                Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets
                in
                excess of $10 million;

            

    

     

    
      	 	
              (iii)

            	
              the
                Transferee will transfer the Certificate only to another “eligible
                corporation,” as defined in U.S. Treasury Regulations Section
                1.860E-1(c)(6)(i), in a transaction that satisfies the requirements
                of
                Sections 1.860E-1(c)(4)(i), (ii) and (iii) and Section 1.860E-1(c)(5)
                of
                the U.S. Treasury Regulations;
                and

            

    

     

    
      	 	
              (iv)

            	
              the
                Transferee determined the consideration paid to it to acquire the
                Certificate based on reasonable market assumptions (including, but
                not
                limited to, borrowing and investment rates, prepayment and loss
                assumptions, expense and reinvestment assumptions, tax rates and
                other
                factors specific to the Transferee) that it has determined in good
                faith.

            

    

     

      None
      of the above.

     

    13.  The
      Transferee is not an employee benefit plan that is subject to Title I of ERISA
      or a plan that is subject to Section 4975 of the Code or a plan subject to
      any Federal, state or local law that is substantially similar to Title I of
      ERISA or Section 4975 of the Code, and the Transferee is not acting on behalf
      of
      or investing plan assets of such a plan.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the Transferee has caused this instrument to be executed on
      its
      behalf, pursuant to authority of its Board of Directors, by its duly authorized
      officer and its corporate seal to be hereunto affixed, duly attested, this
          
      day
      of
                  ,
      20  .

     

    

    
      	 	 	 	 	 	 	 	
              [NAME
                OF TRANSFEREE]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

     

    

     

    [Corporate
      Seal]

     

    ATTEST:

     

    
      	 

    

    [Assistant]
      Secretary

     

    Personally
      appeared before me the above-named __________, known or proved to me to be
      the
      same person who executed the foregoing instrument and to be the ___________
      of
      the Transferee, and acknowledged that he executed the same as his free act
      and
      deed and the free act and deed of the Transferee.

     

    Subscribed
      and sworn before me this     
      day
      of
        
      ,
      20  .

     

    

    
      	 	 
	 	
              NOTARY
                PUBLIC

            
	 	 
	 	
              My
                Commission expires the __ day

               

              of
                _________, 20__

               

            

    

    

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    FORM
      OF
      TRANSFEROR AFFIDAVIT

     

    
      	
              STATE
                OF NEW YORK

            	
              )

            	 
	 	
              )

            	 
	
              COUNTY
                OF NEW YORK

            	
              )

            	 

    

    

     

    __________________________,
      being duly sworn, deposes, represents and warrants as follows:

     

    1.  I
      am a
      ____________________ of ____________________________ (the “Owner”), a
      corporation duly organized and existing under the laws of ______________, on
      behalf of whom I make this affidavit.

     

    2.  The
      Owner
      is not transferring the Class R Certificates or Class R-X Certificates (the
      “Residual Certificates”) to impede the assessment or collection of any
      tax.

     

    3.  The
      Owner
      has no actual knowledge that the Person that is the proposed transferee (the
      “Purchaser”) of the Residual Certificates: (i) has insufficient assets to pay
      any taxes owed by such proposed transferee as holder of the Residual
      Certificates; (ii) may become insolvent or subject to a bankruptcy proceeding
      for so long as the Residual Certificates remain outstanding and (iii) is not
      a
      Permitted Transferee.

     

    4.  The
      Owner
      understands that the Purchaser has delivered to the Trustee a transfer affidavit
      and agreement in the form attached to the Pooling and Servicing Agreement as
      Exhibit F-2. The Owner does not know or believe that any representation
      contained therein is false.

     

    5.  At
      the
      time of transfer, the Owner has conducted a reasonable investigation of the
      financial condition of the Purchaser as contemplated by Treasury Regulations
      Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Owner
      has
      determined that the Purchaser has historically paid its debts as they became
      due
      and has found no significant evidence to indicate that the Purchaser will not
      continue to pay its debts as they become due in the future. The Owner
      understands that the transfer of a Residual Certificate may not be respected
      for
      United States income tax purposes (and the Owner may continue to be liable
      for
      United States income taxes associated therewith) unless the Owner has conducted
      such an investigation.

     

    6.  Capitalized
      terms not otherwise defined herein shall have the meanings ascribed to them
      in
      the Pooling and Servicing Agreement.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Owner has caused this instrument to be executed on its
      behalf, pursuant to the authority of its Board of Directors, by its [Vice]
      President, attested by its [Assistant] Secretary, this ____ day of ___________,
      20__.

     

    
      	 	 	 	 	 	 	 	
              [OWNER]

            	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:  [Vice]
                President

            

    

    

    
      	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
              ATTEST

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	
              By:

            	 
	 	
              Name:

            
	 	
              Title:  [Assistant]
                Secretary

            

    

    

     

    Personally
      appeared before me the above-named , known or proved to me to be the same person
      who executed the foregoing instrument and to be a [Vice] President of the Owner,
      and acknowledged to me that [he/she] executed the same as [his/her] free act
      and
      deed and the free act and deed of the Owner.

     

    Subscribed
      and sworn before me this ____ day of __________, 20___.

     

    
      	 	 
	 	
              Notary
                Public

            
	 	 
	 	 
	 	
              County
                of _________________________

            
	 	
              State
                of ___________________________

            
	 	 
	 	
              My
                Commission expires:

            

    

    

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      G

     

    FORM
      OF
      CERTIFICATION WITH RESPECT TO ERISA AND THE CODE

     

    [Date]

     

    Citibank,
      N.A.

    388
      Greenwich Street, 14th
      Floor

    New
      York,
      NY 10013

     

    Re:  
Citigroup
      Mortgage Loan Trust Inc.

    Asset-Backed
      Pass-Through Certificates, Series 2007-WFHE2, Mortgage Class 

     

    Dear
      Sirs:

     

    _______________________
      (the “Transferee”) intends to acquire from _____________________ (the
“Transferor”) $____________ Initial Certificate Principal Balance of Citigroup
      Mortgage Loan Trust, Series 2007-WFHE2, Mortgage Pass-Through Certificates,
      Class [CE] [P] [R] (the “Certificates”), issued pursuant to a Pooling and
      Servicing Agreement dated as of March 1, 2007 (the “Agreement”),
      among
      Citigroup Mortgage Loan Trust Inc., as depositor (the “Depositor”),
      Wells
      Fargo Bank, N.A. as Servicer, (the “Servicer”), Citibank, N.A. as trust
      administrator and U.S. Bank National Association, as trustee (the “Trustee”).
      Capitalized terms used herein and not otherwise defined shall have the meanings
      assigned thereto in the Pooling and Servicing Agreement. The Transferee hereby
      certifies, represents and warrants to, and covenants with the Depositor, the
      Trustee and the Servicer that:

     

    The
      Certificates (i) are not being acquired by, and will not be transferred to,
      any
      employee benefit plan within the meaning of section 3(3) of the Employee
      Retirement Income Security Act of 1974, as amended (“ERISA”), or other
      retirement arrangement, including individual retirement accounts and annuities,
      Keogh plans and bank collective investment funds and insurance company general
      or separate accounts in which such plans, accounts or arrangements are invested,
      that is subject to Section 406 of ERISA or Section 4975 of the Internal Revenue
      Code of 1986 (the “Code”) (any of the foregoing, a “Plan”), (ii) are not being
      acquired with “plan assets” of a Plan within the meaning of the Department of
      Labor (“DOL”) regulation, 29 C.F.R.ss.2510.3-101, and (iii) will not be
      transferred to any entity that is deemed to be investing in plan assets within
      the meaning of the DOL regulation at 29 C.F.R.ss. 2510.3-101.

     

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      H-1

     

    FORM
      CERTIFICATION TO BE PROVIDED BY THE DEPOSITOR WITH FORM 10-K

     

    
      	
              Re:

               

            	
              Citigroup
                Mortgage Loan Trust, Series 2007-WFHE2

              Asset
                Backed Pass-Through Certificates, Series
                2007-WFHE2

            

    

    

     

    I,
      _________, certify that:

     

    l. I
      have
      reviewed this annual report on Form 10-K, and all reports on Form 10-D required
      to be filed in respect of the period covered by this report on Form 10-K of
      Citigroup Mortgage Loan Trust, Asset-Backed Pass-Through Certificates, Series
      2007-WFHE2 (the “Exchange Act periodic reports”);

     

    2. Based
      on
      my knowledge, the Exchange Act periodic reports, taken as a whole, do not
      contain any untrue statement of a material fact or omit to state a material
      fact
      necessary to make the statements made, in light of the circumstances under
      which
      such statements were made, not misleading with respect to the period covered
      by
      this report;

     

    3. Based
      on
      my knowledge, all of the distribution, servicing and other information required
      to be provided under Form 10-D for the period covered by this report is included
      in the Exchange Act periodic reports;

     

    4. Based
      on
      my knowledge and upon the annual compliance statement required in this report
      under Item 1123 of Regulation AB, and except as disclosed in the Exchange Act
      periodic reports, the Servicer has fulfilled each of its obligations under
      the
      servicing agreement; and

     

    5. All
      of
      the reports on assessment of compliance with servicing criteria for asset-backed
      securities and their related attestation reports on assessment of compliance
      with servicing criteria for asset-backed securities required to be included
      in
      this report in accordance with Item 1122 of Regulation AB and Exchange Act
      Rules
      13a-18 and 15d-18 have been included as an exhibit to this report, except as
      otherwise disclosed in this report. Any material instances of noncompliance
      described in such reports have been disclosed in this report on Form
      10-K.

     

    In
      giving
      the certifications above, I have reasonably relied on information provided
      to me
      by the following unaffiliated parties: Wells Fargo Bank, N.A. and Citibank,
      N.A.

     

    Date:
      [__], 2006

    

     

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    
      	 	 	 	 	 	 	 	
              CITIGROUP
                MORTGAGE LOAN TRUST, INC.

               

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

               

            	 
	 	 	 	 	 	 	 	
              Name:

               

            	 
	 	 	 	 	 	 	 	
              Title:

               

            	 
	 	 	 	 	 	 	 	
              Date:

               

            	 

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      H-2

     

    FORM
      CERTIFICATION TO BE

    PROVIDED
      TO DEPOSITOR BY THE TRUST ADMINISTRATOR

     

    
      	
              Re:

               

            	
              Citigroup
                Mortgage Loan Trust, Series 2007-WFHE2

              Asset
                Backed Pass-Through Certificates, Series
                2007-WFHE2

            

    

    

    The
      Trust
      Administrator of the Trust, hereby certifies to Citigroup Mortgage Loan Trust
      Inc. (the “Depositor”), and its officers, directors and affiliates, and with the
      knowledge and intent that they will rely upon this certification,
      that:

     

    1. The
      Trust
      Administrator has reviewed the annual report on Form 10-K for the fiscal year
      [___], and all reports on Form 10-D required to be filed in respect of the
      period covered by such Form 10-K of the Depositor relating to the
      above-referenced trust (the “Exchange Act periodic reports”);

     

    2. Based
      on
      the Trust Administrator’s knowledge, the information in the distribution reports
      prepared by the Trust Administrator, taken as a whole, does not contain any
      untrue statement of a material fact or omit to state a material fact necessary
      to make the statements made, in light of the circumstances under which such
      statements were made, not misleading as of the last day of the period covered
      by
      that annual report; and

     

    3. The
      information provided by the Trust Administrator pursuant to Sections 3.21 and
      4.07 (solely with respect to information about the Trust Administrator) does
      not
      contain any untrue statement of material fact.

     

    4. Based
      on
      the Trust Administrator’s knowledge, the distribution information required to be
      provided by the Trust Administrator under the Pooling and Servicing Agreement
      is
      included in the Exchange Act periodic reports.

     

    Capitalized
      terms used but not defined herein have the meanings ascribed to them in the
      Pooling and Servicing Agreement, dated March 1, 2007 (the “Pooling and Servicing
      Agreement”), among the Depositor as depositor, Wells Fargo Bank, N.A. as
      Servicer, Citibank, N.A. as trust administrator and U.S. Bank National
      Association as trustee.

     

    
      	 	 	 	 	 	 	 	
              CITIBANK,
                N.A., 

               

              as
                Trust Administrator

               

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

               

            	 
	 	 	 	 	 	 	 	 	
               

              Name:

            
	 	 	 	 	 	 	 	 	Title:
	 	 	 	 	 	 	 	 	Date:

    

    

    

    EXHIBIT
      H-3

    FORM
      CERTIFICATION TO BE

    PROVIDED
      TO DEPOSITOR BY THE SERVICER

     

    

     

    
      	
              Re:

               

            	
              Citigroup
                Mortgage Loan Trust, Series 2007-WFHE2

              Asset
                Backed Pass-Through Certificates, Series
                2007-WFHE2

            

    

    

     

    I,
      [identify the certifying individual], acting of [Wells Fargo Bank, N.A. (“Wells
      Fargo”)], certify to Citigroup Mortgage Loan Trust, Inc. (the “Depositor”), the
      Trust Administrator and their respective officers, directors and affiliates,
      and
      with the knowledge and intent that they will rely upon this certification,
      that:

     

    1. I
      have
      reviewed the information provided to the Trust Administrator by the Servicer
      pursuant to the Pooling and Servicing Agreement and included in the annual
      report on Form 10-K for the fiscal year [___], and all reports on Form 10-D
      required to be filed in respect of the period covered by such Form 10-K of
      the
      Depositor relating to the above-referenced trust (the “Exchange Act periodic
      reports”) (the “Servicing Information”);

     

    2. Based
      on
      my knowledge, the Servicing Information in the Exchange Act periodic reports,
      taken as a whole, does not contain any untrue statement of a material fact
      or
      omit to state a material fact necessary to make the statements made, in light
      of
      the circumstances under which such statements were made, not misleading as
      of
      the last day of the period covered by that annual report;

     

    3. Based
      on
      my knowledge, the Servicing Information required to be provided to the Trust
      Administrator by the Servicer has been provided as required under the Pooling
      and Servicing Agreement;

     

    4. I
      am
      responsible for reviewing the activities performed by the Servicer under the
      Pooling and Servicing Agreement and based upon the review required under the
      Pooling and Servicing Agreement, and except as disclosed to the Depositor and
      the Trust Administrator, the Servicer has fulfilled in all material respects
      its
      obligations under the Pooling and Servicing Agreement; and

     

    5. I
      have
      disclosed to the Servicer’s certified public accountants and the Depositor all
      significant deficiencies relating to the Servicer’s compliance with the
      Servicing Criteria as set forth in the Pooling and Servicing
      Agreement.

    
      
         

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Capitalized
      terms used but not defined herein have the meanings ascribed to them in
      the

    Pooling
      and Servicing Agreement, dated March 1, 2007 (the “Pooling and Servicing
      Agreement”), among the Depositor as depositor, Wells Fargo Bank, N.A. as
      servicer, Citibank, N.A. as trust administrator and U.S. Bank National
      Association as trustee.

     

    
      	 	 	 	 	 	 	 	
              [WELLS
                FARGO BANK, N.A.] 

               

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

               

            	 
	 	 	 	 	 	 	 	
              Name:

               

            	 
	 	 	 	 	 	 	 	
              Title:

               

            	 
	 	 	 	 	 	 	 	
              Date:

               

            	 

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      I

    

    FORM
      OF
      INTEREST RATE CAP AGREEMENT

    

    

    
      	
              
                DATE:

              

            	
              April
                10, 2007

            
	 	 
	
              TO:

            	
              U.S.
                Bank National Association, not in its individual capacity, but solely
                as
                Cap Trustee for the trust created pursuant to the Cap Administration
                Agreement (the “Cap Trust”) with respect to Citigroup Mortgage Loan Trust
                2007-WFHE2, Asset-Backed Pass-Through Certificates, Series 2007-WFHE2
                ("Party B")

            
	 	 
	
              ATTENTION:

            	
              Corporate
                Trust Services - CMLTI 2007-WFHE2

            
	
              TELEPHONE:

            	
              617-856-9757

            
	
              FACSIMILE:

            	
              617-856-9757

            
	 	 
	
              FROM:

            	
              CITIBANK,
                N.A., a national banking association organized under the laws of
                the
                United States ("Party A")

            
	
              TELEPHONE:

            	
              (212)
                615-8398

            
	
              FACSIMILE: 

            	
              (212)
                615-8985

            
	 	 
	
              SUBJECT:

            	
              Rate
                Cap Transaction 

            
	 	 
	
              REFERENCE
                NUMBER:

            	
              CPC4648

            

    

    

    The
      purpose of this long-form confirmation (“Confirmation”) is to confirm the terms
      and conditions of the current Transaction entered into on the Trade Date
      specified below (the “Transaction”) between CITIBANK, N.A., a national banking
      association organized under the laws of the United States (“Party A”) and
U.S.
      Bank
      National Association, not in its individual capacity, but solely as Cap Trustee
      for the trust created pursuant to the Cap Administration Agreement (the “Cap
      Trust”) with respect to Citigroup Mortgage Loan Trust 2007-WFHE2, Asset-Backed
      Pass-Through Certificates, Series 2007-WFHE2 (“Party
      B”). Reference is hereby made to the Pooling and Servicing Agreement, dated as
      of March 1, 2007, among Citigroup Mortgage Loan Trust Inc., as depositor, Wells
      Fargo Bank, N.A., as servicer, Citibank N.A., as trust administrator, and U.S.
      Bank National Association, as trustee (the “Pooling and Servicing Agreement”).
      This Confirmation evidences a complete and binding agreement between you and
      us
      to enter into the Transaction on the terms set forth below and replaces any
      previous agreement between us with respect to the subject matter hereof. This
      Confirmation constitutes a “Confirmation” and also constitutes a “Schedule” as
      referred to in the ISDA Master Agreement, and Paragraph 13 of a Credit Support
      Annex to the Schedule.

    

    
      	
              1.

            	
              This
                Confirmation shall supplement, form a part of, and be subject to
                an
                agreement in the form of the ISDA Master Agreement (Multicurrency
                - Cross
                Border) as published and copyrighted in 1992 by the International
                Swaps
                and Derivatives Association, Inc. (the “ISDA Master Agreement”), as if
                Party A and Party B had executed an agreement in such form on the
                date
                hereof, with a Schedule as set forth in Item 3 of this Confirmation,
                and
                an ISDA Credit Support Annex (Bilateral Form - ISDA Agreements Subject
                to
                New York Law Only version) as published and copyrighted in 1994 by
                the
                International Swaps and Derivatives Association, Inc., with Paragraph
                13
                thereof as set forth in Annex A hereto (the “Credit Support Annex”). For
                the avoidance of doubt, the Transaction described herein shall be
                the sole
                Transaction governed by such ISDA Master Agreement. In the event
                of any
                inconsistency among any of the following documents, the relevant
                document
                first listed shall govern: (i) this Confirmation, exclusive of the
                provisions set forth in Item 3 hereof and Annex A hereto; (ii) the
                provisions set forth in Item 3 hereof, which are incorporated by
                reference
                into the Schedule; (iii) the Credit Support Annex; (iv) the Definitions;
                and (v) the ISDA Master Agreement.

            

    

    

    Each
      reference herein to a “Section” (unless specifically referencing the Pooling and
      Servicing Agreement) or to a “Section” “of this Agreement” will be construed as
      a reference to a Section of the ISDA Master Agreement; each reference herein
      to
      a “Part” will be construed as a reference to the provisions herein deemed
      incorporated in the Schedule to the ISDA Master Agreement; each reference herein
      to a “Paragraph” will be construed as a reference to a Paragraph of the Credit
      Support Annex. 

    

    2.             The
      terms
      of the particular Transaction to which this Confirmation relates are as
      follows:

    

    
      	
              Type
                of Transaction:

            	
              Interest
                Rate Cap

            
	 	 
	
              Notional
                Amount:

            	
              With
                respect to each Calculation Period, the amount set forth for such
                period
                on Schedule I attached hereto.

            
	 	 
	
              Trade
                Date:

            	
              March
                2, 2007

            
	 	 
	
              Effective
                Date:

            	
              April
                10, 2007

            
	 	 
	
              Termination
                Date:

            	
              August
                25, 2012, subject to adjustment in accordance with the Business Day
                Convention

            
	 	 
	
              Fixed
                Amount:

            	 
	 	 
	
              Fixed
                Amount Payer:

            	
              Party
                B

            
	 	 
	
              Fixed
                Amount Payer

            	 
	
              Payment
                Date:

            	
              April
                10, 2007

            
	 	 
	
              Fixed
                Amount:

            	
              USD
                1,538,000.00

            
	 	 
	 	 
	
              Floating
                Amounts:

            	 
	 	 
	
              Floating
                Rate Payer:

            	
              Party
                A

            
	 	 
	
              Floating
                Rate Payer

            	 
	
              Period
                End Dates:

            	
              The
                25th calendar day of each month during the Term of this Transaction,
                commencing April 25, 2007, and ending on the Termination Date, subject
                to
                adjustment in accordance with the Business Day
                Convention.

            
	 	 
	
              Floating
                Rate Payer 

            	 
	
              Payment
                Dates:

            	
              Early
                Payment shall apply. Each Floating Rate Payer Payment Date shall
                be 2
                Business Day prior to the 25th calendar day of each month during
                the Term
                of this Transaction, commencing April 23, 2007, and ending on the
                Termination Date.

            
	 	 
	
              Cap
                Rate:

            	
              6.00%

            
	 	 
	
              Floating
                Rate Option:

            	
              USD-LIBOR-BBA

            
	 	 
	
              Floating
                Amount:

            	
              To
                be determined in accordance with the following formula:

            
	 	 
	 	
              Scale
                Factor*(Floating Rate Option-Cap Rate)*Notional Amount*Floating Rate
                Day
                Count Fraction

            
	 	 
	
              Designated
                Maturity:

            	
              One
                month

            
	 	 
	
              Floating
                Rate Day 

            	 
	
              Count
                Fraction:

            	
              Actual/360

            
	 	 
	
              Scale
                Factor:

            	
              250

            
	 	 
	
              Reset
                Dates:

            	
              The
                first day of each Calculation Period.

            
	 	 
	
              Compounding:

            	
              Inapplicable

            
	 	 
	
              Business
                Days:

            	
              New
                York

            
	 	 
	
              Business
                Day Convention:

            	
              Following

            
	 	 
	
              Calculation
                Agent:

            	
              Party
                A

            

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    3.           
       Provisions
      Deemed Incorporated in a Schedule to the ISDA Master Agreement:

    

    Part
      1.  Termination
      Provisions

    

    For
      the
      purposes of this Agreement:-

    

    (a)         
       “Specified
      Entity”
      means:

    

    (i) in
      relation to Party A:  not
      applicable; and

    

    (ii) in
      relation to Party B: not
      applicable.

    

    (b)         
       “Specified
      Transaction”
shall
      have the meaning specified in Section 14 of this Agreement.

    

    (c) The
      “Failure
      to Pay or Deliver”
      provisions of Section 5(a)(i) will apply to Party A and will apply to Party
      B;
      provided, however, that Section 5(a)(i) is hereby amended by replacing the
      word
“third” with the word “first”; provided, further, that notwithstanding anything
      to the contrary in Section 5(a)(i), any failure by Party A to comply with or
      perform any obligation to be complied with or performed by Party A under the
      Credit Support Annex shall not constitute an Event of Default under Section
      5(a)(i) unless (A)
      a
      Required Ratings Downgrade Event has occurred and been continuing for 30 or
      more
      Local Business Days and (B) such failure is not remedied on or before the third
      Local Business Day after notice of such failure is given to Party
      A.

    

    (d) The
      "Breach
      of Agreement"
      provisions of Section 5(a)(ii) will apply to Party A and will not apply to
      Party
      B.

    

    (e) The
      "Credit
      Support Default"
      provisions of Section 5(a)(iii) will apply to Party A and will not apply to
      Party B except that Section 5(a)(iii)(1) will apply to Party B solely in respect
      of Party B’s obligations under Paragraph 3(b) of the Credit Support Annex;
      provided, however, that notwithstanding anything to the contrary in Section
      5(a)(iii)(1), any failure by Party A to comply with or perform any obligation
      to
      be complied with or performed by Party A under the Credit Support Annex shall
      not constitute an Event of Default under Section 5(a)(iii) unless (A)
      a
      Required Ratings Downgrade Event has occurred and been continuing for 30 or
      more
      Local Business Days and (B) such failure is not remedied on or before the third
      Local Business Day after notice of such failure is given to Party
      A.

    

    (f) The
      "Misrepresentation"
      provisions of Section 5(a)(iv) will apply to Party A and will not apply to
      Party
      B..

    

    (g) The
      "Default
      under Specified Transaction"
      provisions of Section 5(a)(v) will apply to Party A and will not apply to Party
      B.

    

    (h) The
      "Cross
      Default"
      provisions of Section 5(a)(vi) will apply to Party A and will not apply to
      Party
      B.

    

    For
      purposes of Section 5(a)(vi), the following provisions apply:

    

    "Specified
      Indebtedness"
      will
      have the meaning specified in Section 14 of this Agreement except that such
      term
      shall not include obligations in respect of deposits received in the ordinary
      course of Party A’s banking business.

    

    “Threshold
      Amount”
means
      with respect to Party A an amount equal to three percent (3%) of the
      Shareholders’ Equity of Party A or, if applicable, the Eligible Guarantor.

    

    “Shareholders’
      Equity”
means
      with respect to an entity, at any time, the sum (as shown in the most recent
      annual audited financial statements of such entity) of (i) its capital stock
      (including preferred stock) outstanding, taken at par value, (ii) its capital
      surplus and (iii) its retained earnings, minus (iv) treasury stock, each to
      be
      determined in accordance with generally accepted accounting
      principles.

    

    (i) The
      "Bankruptcy"
      provisions of Section 5(a)(vii) will apply to Party A and will apply to Party
      B
      except that the provisions of Section 5(a)(vii)(2), (6) (to the extent that
      such
      provisions refer to any appointment contemplated or effected by the Pooling
      and
      Servicing Agreement or any appointment to which Party B has not become subject),
      (7) and (9) will not apply to Party B; provided that, with respect to Party
      B
      only, Section 5(a)(vii)(4) is hereby amended by adding after the words “against
      it” the words “(excluding any proceeding or petition instituted or presented by
      Party A or its Affiliates)”, and Section 5(a)(vii)(8) is hereby amended by
      deleting the words “to (7) inclusive” and inserting in lieu thereof “, (3), (4)
      as amended, (5), (6) as amended, or (7)”.

    

    (j) The
      "Merger
      without Assumption"
      provisions of Section 5(a)(viii) will apply to Party A and will not apply to
      Party B.

    

    (k) The
      “Illegality”
      provisions of Section 5(b)(i) will apply to Party A and will apply to Party
      B.

    

    (l) The
      “Tax
      Event”
      provisions of Section 5(b)(ii) will apply to Party A and will apply to Party
      B,
      provided that the words “(x) any action taken by a taxing authority, or brought
      in a court of competent jurisdiction, on or after the date on which a
      Transaction is entered into (regardless of whether such action is taken or
      brought with respect to a party to this Agreement) or (y)” are hereby
      deleted.

    

    (m) The
      “Tax
      Event Upon Merger”
      provisions of Section 5(b)(iii) will apply to Party A and will apply to Party
      B,
      provided that Party A shall not be entitled to designate an Early Termination
      Date by reason of a Tax Event upon Merger in respect of which it is the Affected
      Party.

    

    (n) The
      "Credit
      Event Upon Merger"
      provisions of Section 5(b)(iv) of this Agreement will not apply to
      Party A and will not apply to Party B. 

    

    (o) The
      "Automatic
      Early Termination"
      provisions of Section 6(a) will not apply to Party A and will not apply to
      Party
      B; 

    

    (p) For
      the
      purpose of the "Payments
      on Early Termination"
      provisions of Section 6(e): Market Quotation and Second Method will apply;
      provided, however, that, in the event of a Derivative Provider Trigger Event,
      the following provisions will apply:

    

    
      	 	
              (A)
                

            	
              The
                definition of Market Quotation in Section 14 shall be deleted in
                its
                entirety and replaced with the
                following:

            

    

    

    
      	 	 	
              “Market
                Quotation” means,
                with respect to one or more Terminated Transactions, a Firm Offer
                which is
                (1) made by a Reference Market-maker that is an Eligible Replacement,
                (2)
                for an amount that would be paid to Party B (expressed as a negative
                number) or by Party B (expressed as a positive number) in consideration
                of
                an agreement between Party B and such Reference Market-maker to enter
                into
                a Replacement Transaction, and (3) made on the basis that Unpaid
                Amounts
                in respect of the Terminated Transaction or group of Transactions
                are to
                be excluded but, without limitation, any payment or delivery that would,
                but for the relevant Early Termination Date, have been required (assuming
                satisfaction of each applicable condition precedent) after that Early
                Termination Date is to be included.

            

    

     

    
      	 	
              (B)

            	
              The
                definition of “Settlement Amount” shall be deleted in its entirety and
                replaced with the following:

            

    

     

    “Settlement
      Amount”
means,
      with respect to any Early Termination Date, an amount (as determined by Party
      B)
      equal to the Termination Currency Equivalent of the amount (whether positive
      or
      negative) of any Market Quotation for the relevant Terminated Transaction or
      group of Terminated Transactions that is accepted by Party B so as to become
      legally binding, provided that:

     

    (1) If,
      on
      the Early Termination Date, no Market Quotation for the relevant Terminated
      Transaction or group of Terminated Transactions has been accepted by Party
      B so
      as to become legally binding and one or more Market Quotations have been made
      and remain capable of becoming legally binding upon acceptance, the Settlement
      Amount shall equal the Termination Currency Equivalent of the amount (whether
      positive or negative) of the lowest of such Market Quotations (for
      the
      avoidance of doubt, the lowest of such Market Quotations shall be the lowest
      Market Quotation of such Market Quotations expressed as a positive number or,
      if
      any of such Market Quotations is expressed as a negative number, the Market
      Quotation expressed as a negative number with the largest absolute
      value);
      and

     

    (2) If,
      on
      the Early Termination Date, no Market Quotation for the relevant Terminated
      Transaction or group of Terminated Transactions is accepted by Party B so as
      to
      become legally binding and no Market Quotations have been made and remain
      capable of becoming legally binding upon acceptance, the Settlement Amount
      shall
      equal Party B’s Loss (whether positive or negative and without reference to any
      Unpaid Amounts) for the relevant Terminated Transaction or group of Terminated
      Transactions.

     

     

    
      	 	
              (C)

            	
              If
                Party B requests Party A in writing to obtain Market Quotations,
                Party A
                shall use its reasonable efforts to do so before the Latest Settlement
                Amount Determination Day.

            

    

     

    
      	 	
              (D)

            	
              Without
                prejudice to Party B’s discretion as to the time of obtaining and
                accepting quotations, Party B shall consult with Party A as to the
                day and
                time of obtaining any quotations.

            

    

     

    
      	 	
              (E)

            	
              At
                any time on or before the Latest Settlement Amount Determination
                Day at
                which two or more Market Quotations remain capable of becoming legally
                binding upon acceptance, Party B shall be entitled to accept only
                the
                lowest of such Market Quotations (for the avoidance of doubt, the
                lowest
                of such Market Quotations shall be the lowest Market Quotation of
                such
                Market Quotations expressed as a positive number or, if any of such
                Market
                Quotations is expressed as a negative number, the Market Quotation
                expressed as a negative number with the largest absolute
                value).

            

    

    

    
      	 	
              (F)

            	
              If
                the Settlement Amount is a negative number, Section 6(e)(i)(3) shall
                be
                deleted in its entirety and replaced with the
                following:

            

    

    

    “(3)
      Second
      Method and Market Quotation.
      If the
      Second Method and Market Quotation apply, (I) Party B shall pay to Party A
      an
      amount equal to the absolute value of the Settlement Amount in respect of the
      Terminated Transactions, (II) Party B shall pay to Party A the Termination
      Currency Equivalent of the Unpaid Amounts owing to Party A and (III) Party
      A
      shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts
      owing to Party B; provided, however, that (x) the amounts payable under the
      immediately preceding clauses (II) and (III) shall be subject to netting in
      accordance with Section 2(c) of this Agreement and (y) notwithstanding any
      other
      provision of this Agreement, any amount payable by Party A under the immediately
      preceding clause (III) shall not be netted-off against any amount payable by
      Party B under the immediately preceding clause (I).”

     

    (q) "Termination
      Currency"
      means
      United States Dollars.

    

    (r) "Additional
      Termination Event"
      will
      apply as provided in Part 5(b)

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Part 2.  Tax
      Matters

    

    
      	
              (a)

            	
              Tax
                Representations.

            

    

    

    (i)          
       Payer
      Representations.
      For the
      purpose of Section 3(e) of this Agreement, 

    

    (A)        
       Party
      A
      makes the following representation:

    

    None.

    

    (B)         
       Party
      B
      makes the following representation: 

    

    None.

    

    
      	 	
              (ii)

            	
              Payee
                Representations. 
                For the purpose of Section 3(f) of this Agreement, Party A and Party
                B
                make the representations specified below, if
                any:

            

    

    

    None.
      

    

    
      	
              (b)

            	
              Tax
                Provisions.

            

    

    

    
      	 	
              (i)

            	
              Gross
                Up.
                Section 2(d)(i)(4) shall not apply to Party B as X, and Section 2(d)(ii)
                shall not apply to Party B as Y, in each case such that Party B shall
                not
                be required to pay any additional amounts referred to
                therein.

            

    

    

    
      	 	
              (ii)

            	
              Indemnifiable
                Tax.
                The definition of “Indemnifiable Tax” in Section 14 is deleted in its
                entirety and replaced with the
                following:

            

    

    

    “Indemnifiable
      Tax”
      means,
      in relation to payments by Party A, any Tax and, in relation to payments by
      Party B, no Tax. 

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Part
      3.  Agreement
      to Deliver Documents

    

    For
      the
      purpose of Section 4(a) of this Agreement:

    

    I.
      Tax
      forms, documents or certificates to be delivered are:

    

    
      	
              Party
                required to

              deliver
                document

            	 	
              Form/Document/

              Certificate

            	 	
              Date
                by which to

              be
                delivered

            
	 	 	 	 	 
	
              Party
                A

            	 	
              A
                correct, complete and duly executed U.S. IRS Form W-9.

            	 	
              Promptly
                upon execution of this Agreement; 

            
	 	 	 	 	 
	
              Party
                B

            	 	
              Tax
                forms relating to the beneficial owner of payments to Party B under
                this
                Agreement from time to time, which forms are received by Party B
                in
                accordance with the PSA. 

            	 	
              Promptly
                upon execution of this Agreement any such forms will be applied for
                and
                delivered promptly upon receipt, but in any event prior to the first
                Payment Date, and thereafter, upon previously delivered forms becoming
                obsolete; 

            

    

     II.
      Other documents to be delivered are:

    

    
      	
              Party
                required

              to
                deliver

              document

            	 	
               

              Form/Document/

              Certificate

            	 	
               

              Date
                by which to

              be
                delivered

            	 	
               

              Covered
                by

              Section
                3(d)

            
	 	 	 	 	 	 	 
	
              Party
                A and

              Party
                B

            	 	
              Any
                documents required by the receiving party to evidence the authority
                of the
                delivering party or its Credit Support Provider, if any, for it to
                execute
                and deliver, and to perform its obligations under the Agreement,
                this
                Confirmation, and any Credit Support Documents to which it is a
                party.

            	 	
              Upon
                the execution and delivery of this Agreement, or in the case of Party
                B,
                promptly upon receipt

            	 	
              Yes

            
	 	 	 	 	 	 	 
	
              Party
                A and

              Party
                B

            	 	
              Incumbency
                and authority certificate authorizing the officers of the party signing
                the Agreement, this Confirmation, and any relevant Credit Support
                Document, as the case may be

            	 	
              Upon
                the execution and delivery of this Agreement

            	 	
              Yes

            
	 	 	 	 	 	 	 
	
              Party
                A

            	 	
              An
                opinion of counsel to Party A

            	 	
              Upon
                the execution and delivery of this Agreement

            	 	
              No

            

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Part
      4.  Miscellaneous

    

    (a) Addresses
      for Notices.
      For the
      purpose of Section 12(a) of this Agreement:

    

    Address
      for notices or communications to Party A:  

    

    
      	
              Address:

            	
              250
                West Street 

            
	 	
              10th
                Floor

            
	 	
              New
                York, New York 10013

            
	 	 
	
              Attention:

            	
              Director
                Derivatives Operations

            
	 	 
	
              Facsimile
                No.:

            	
              212
                723 2956

            

    

    

    (For
      all
      purposes)

    

    In
      addition, in the case of notices or communications relating to Section 5, 6,
      11
      or 13 of this Agreement, a second copy of any such notice or communication
      shall
      be addressed to the attention of Party A’s legal department as
      follows:

    

    
      	
              Address:

            	
              Legal
                Department

            
	 	
              77
                Water Street

            
	 	
              9th
                Floor

            
	 	
              New
                York, New York 10004

            
	 	 
	
              Attention:
                

            	
              Department
                Head

            
	 	 
	
              Facsimile
                No.:

            	
              212
                657 1452

            

    

    

    Address
      for notices or communications to Party B:

    

    
      	
              Address:

            	
              U.S.
                Bank National Association 

            
	 	
              One
                Federal St., 3rd
                Floor

            
	 	
              Boston,
                MA 02110

            
	 	 
	
              Attention:

            	
              Corporate
                Trust Services - CMLTI 2007-WFHE2

            
	 	 
	
              Facsimile
                No:

            	
              617-603-6402

            
	 	 
	
              Phone
                No:

            	
              617-856-9757

            

    

    

    (b) Effectiveness
      of Notice.
      Section
      12(a) is hereby amended by deleting the words “facsimile transmission or” in
      line 3 thereof.

    

    (c) Process
      Agent.
      For the
      purpose of Section 13(c) of this Agreement:

    

    Party
      A
      appoints as its Process Agent: Not
      applicable.

    

    Party
      B
      appoints as its Process Agent: Not applicable.

    

    (d) Offices.
      The
      provisions of Section 10(a) will apply to this Agreement. 

    

    (e) Multibranch
      Party.
      For the
      purpose of Section 10(c) of this Agreement:

    

    Party
      A
      not a Multibranch Party.

    

    Party
      B
      is not a Multibranch Party.

    

    (f) Calculation
      Agent.
      The
      Calculation Agent will be Party A.

    

    (g) Credit
      Support Document. 
      Credit
      Support Document means any credit support annex from time to time entered into
      between Party A and Party B in relation to this Master Agreement with respect
      to
      which a Rating Agency Confirmation has been received prior to or at the time
      of
      entry into such credit support annex, and, with respect to Party A any guarantee
      that is provided to Party B pursuant to Part 5(b) below. 

    

    (h) Credit
      Support Provider.
      Means
      (i) in relation to Party A, if a guarantee is provided to Party B pursuant
      to
      Part 5 (b) below, the guarantor providing such guarantee and (ii) in relation
      to
      Party B, not applicable. 

     

    (i) Governing
      Law. This
      Agreement will be governed by and construed in accordance with the laws of
      the
      State of New York without regard to the conflict of law provisions thereof
      other
      than the New York General Obligations Law Sections 5-1401 and
      5-1402.

    

    (j) Jurisdiction.
      Section
      13(b)(i) of the Agreement is hereby amended by (i) deleting in line 2 the word
      “non-” and (ii) deleting the final paragraph thereof. The following shall be
      added at the end of Section 13(b): “Nothing in this provision shall prohibit a
      party from bringing an action to enforce a money judgment in any other
      jurisdiction.”

    

    (k) “Affiliate”
will
      have the meaning specified in Section 14 of this Agreement except, for purposes
      of Section 3(c) of this Agreement, Party A and Party B shall be considered
      to
      have no Affiliates.

    

    (l) 
       Netting
      of Payments.
      The
      parties agree that subparagraph (ii) of Section 2(c) will apply to each
      Transaction hereunder. 

    

    (m) 
      Single
      Agreement.
      Section
      1(c) shall be amended by the addition of the words “,any credit support annex
      from time to time entered into between Party A and Party B in relation to this
      Master Agreement” after the words “Master Agreement”.

    

    (n) 
      Local
      Business Day.
      The
      definition of Local Business Day in Section 14 of this Agreement shall be
      amended by the addition of the words “or any Credit Support Document” after
“Section 2(a)(i)” and the addition of the words “or Credit Support Document”
after “Confirmation”.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Part
      5.Other
      Provisions

    

    (a) No
      Set-Off

    

    
      	 	
              (i)

            	
              All
                payments under this Agreement shall be made without set-off or
                counterclaim, except as expressly provided for in Section 2(c), Section
                6
                or Part 1(p)(F) below.

            

    

    

    
      	 	
              (ii)

            	
              Section
                6(e) shall be amended by the deletion of the following sentence;
                "The
                amount, if any, payable in respect of an Early Termination Date and
                determined pursuant to this Section will be subject to any
                Set-off."

            

    

     

    (b) Additional
      Termination Events.
      The
      following Additional Termination Events will apply:

    

    
      	 	
              (i)

            	
              “S&P
                First Rating Trigger Collateral.
                If a Relevant Entity no longer meets the S&P Approved Ratings
                Threshold, and Party A has failed within
                thirty (30) calendar days of the date on which the Relevant Entity
                no
                longer met the S&P Approved Ratings Threshold to either (A)
                complied with its obligations
                to be complied with or performed
                in
                accordance with the Credit Support Annex, (B) furnish an Eligible
                Guarantee, subject to satisfaction of the Rating Agency Condition
                with
                respect to S&P, from an Eligible Guarantor, or (C) obtain an Eligible
                Replacement, subject
                to satisfaction of the Rating Agency Condition with respect to S&P,
                then an Additional Termination Event shall have occurred with respect
                to
                Party A, and Party A shall be the sole Affected Party with respect
                to such
                Additional Termination Event.”

            

    

    

    
      	 
              (ii)        	
              Moody's
                First Rating Trigger Collateral.
                If (A) a Moody’s First Trigger Ratings Event has occurred and been
                continuing for at least 30 Local Business Days and (B) Party A has
                neither
                (i) complied with its obligations to be complied with or performed
                in
                accordance with the Credit Support Annex nor (ii) furnished an Eligible
                Guarantee or obtained an Eligible Replacement to cause such Moody’s First
                Trigger Ratings Event to cease and either (A) no Moody’s Second Trigger
                Ratings Event has occurred or (B) less than 30 Local Business Days
                have
                elapsed since the last time that no Moody’s Second Trigger Ratings Event
                had occurred and was continuing, then an Additional Termination Event
                shall have occurred with respect to Party A and Party A shall be
                the sole
                Affected Party with respect to such Additional Termination
                Event.

            

    

    

    
      	 	
                
                (iii)

            	
              Second
                Rating Trigger Replacement.
                If
                :

            

    

    

    
      	 	 	
              (A)
                an
                S&P Required Ratings Downgrade Event has occurred and been continuing
                for 30 Local Business Days
                and Party A has failed to procure an Eligible Replacement
                subject to satisfaction of the Rating Agency Condition with respect
                to
                S&P; provided
                that Party A shall, while it searches for an Eligible Replacement,
                post
                and maintain, or continue to maintain, as the case may be, collateral
                in
                accordance with the terms of the ISDA Credit Support Annex;
                or

            

    

    

    
      	 	 	
              (B)
                (i) At least 30 days have elapsed since the last time that no Moody’s
                Second Trigger Ratings Event had occurred and was continuing, (ii)
                Party A
                has not furnished an Eligible Guarantee or obtained an Eligible
                Replacement to cause such Moody’s Second Trigger Ratings Event to cease
                and (i) at least one Eligible Replacement has made a firm offer to
                be the
                transferee of all of Party A’s rights and obligations under this Agreement
                (and such offer remains an offer that will become legally binding
                upon
                such Eligible Replacement upon acceptance by the offeree) and/or
                (ii) an
                Eligible Guarantor has made a Firm Offer to provide an Eligible Guarantee
                (and such Firm Offer remains an offer that will become legally binding
                upon such Eligible Guarantor immediately upon acceptance by the offeree),
                

            

    

    

    then
      an Additional Termination Event shall have occurred with respect to Party A
      and
      Party A shall be the sole Affected Party with respect to such Additional
      Termination Event.

    

    
      	 	
              (iv)

            	
              Optional
                Termination of Securitization.
                An
                Additional Termination Event shall occur upon the notice to
                Certificateholders of an Optional Termination becoming unrescindable
                in
                accordance with Article IX of the Pooling and Servicing Agreement.
                Party B
                shall be the sole Affected Party with respect to such Additional
                Termination Event; provided, however, that notwithstanding anything
                to the
                contrary in Section 6(b)(iv), only Party B may designate an Early
                Termination Date in respect of this Additional Termination
                Event.

            

    

    

    
      	 	
              (v)

            	
              Swap
                Disclosure Event.
                If, upon the occurrence of a Swap Disclosure Event (as defined in
                Part
                5(q) below) Party A has not, within 10 Business Days after such Swap
                Disclosure Event complied with any of the provisions set forth in
                clause
                (iii) of Part 5(q) below, then an Additional Termination Event shall
                have
                occurred with respect to Party A and Party A shall be the sole Affected
                Party with respect to such Additional Termination
                Event.

            

    

    

    

    (c) Required
      Ratings Downgrade Event.
      So long
      as a Required Ratings Downgrade Event has occurred and is continuing, then
      Party
      A shall, as soon as reasonably practicable and so long as a Required Ratings
      Downgrade Event is in effect, at its own expense, use commercially reasonable
      efforts to attempt to procure either (A) a Permitted Transfer or (B) an Eligible
      Guarantee from an Eligible Guarantor. 

    

    (d) Timing
      of Payments by Party B upon Early Termination.
      Notwithstanding anything to the contrary in Section 6(d)(ii), to the extent
      that
      all or a portion (in either case, the “Unfunded Amount”) of any amount that is
      calculated as being due in respect of any Early Termination Date under Section
      6(e) from Party B to Party A will be paid by Party B from amounts other than
      any
      upfront payment paid to Party B by an Eligible Replacement that has entered
      a
      Replacement Transaction with Party B, then such Unfunded Amount shall be due
      on
      the next subsequent Distribution Date following the date on which the payment
      would have been payable as determined in accordance with Section 6(d)(ii),
      and
      on any subsequent Distribution Dates until paid in full (or if such Early
      Termination Date is the final Distribution Date, on such final Distribution
      Date); provided, however, that if the date on which the payment would have
      been
      payable as determined in accordance with Section 6(d)(ii) is a Distribution
      Date, such payment will be payable on such Distribution Date.

    

    (e) Rating
      Agency Notifications.
      Notwithstanding any other provision of this Agreement, no Early Termination
      Date
      shall be effectively designated hereunder by Party B and no transfer of any
      rights or obligations under this Agreement shall be made by either party unless
      each Swap Rating Agency has been given prior written notice of such designation
      or transfer. 

    

    (f) Limitation
      on Events of Default.
      Notwithstanding the provisions of Sections 5 and 6, with respect to any
      Transaction, if at any time and so long as Party B has satisfied in full all
      its
      payment obligations under Section 2(a)(i) in respect of each Transaction
      executed pursuant hereto (each, a “Cap Transaction”) and has at the time no
      future payment obligations, whether absolute or contingent, under such Section
      in respect of such Cap Transaction, then unless Party A is required pursuant
      to
      appropriate proceedings to return to Party B or otherwise returns to Party
      B
      upon demand of Party B any portion of any such payment in respect of such Cap
      Transaction, (a) the occurrence of an event described in Section 5(a) with
      respect to Party B shall not constitute an Event of Default or Potential Event
      of Default with respect to Party B as Defaulting Party in respect of such Cap
      Transaction and (b) Party A shall be entitled to designate an Early Termination
      Date pursuant to Section 6 in respect of such Cap Transaction only as a result
      of the occurrence of a Termination Event set forth in either Section 5(b)(i)
      or
      5(b)(ii) with respect to Party A as the Affected Party, or Section 5(b)(iii)
      with respect to Party A as the Burdened Party. For purposes of the Transactions
      executed pursuant hereto, Party A acknowledges and agrees that Party B’s only
      payment obligation under Section 2(a)(i) in respect of each Cap Transaction
      is
      to pay the related Fixed Amount on the related Fixed Amount Payer Payment
      Date.

     

    (g) Non-Recourse.
      Party A
      acknowledges and agrees that, notwithstanding any provision in this Agreement
      to
      the contrary, the obligations of Party B hereunder are limited recourse
      obligations of Party B, payable solely from the Cap Trust and the proceeds
      thereof, in accordance with the priority of payments and other terms of the
      Pooling and Servicing Agreement and that Party A will not have any recourse
      to
      any of the directors, officers, agents, employees, shareholders or affiliates
      of
      Party B with respect to any claims, losses, damages, liabilities, indemnities
      or
      other obligations in connection with any transactions contemplated hereby.
      In
      the event that the Cap Trust and the proceeds thereof, should be insufficient
      to
      satisfy all claims outstanding and following the realization of the Cap Trust
      and the proceeds thereof, any claims against or obligations of Party B under
      the
      ISDA Master Agreement or any other confirmation thereunder still outstanding
      shall be extinguished and thereafter not revive. The Cap Trust Trustee shall
      not
      have liability for any failure or delay in making a payment hereunder to Party
      A
      due to any failure or delay in receiving amounts in the Cap Trust from the
      Trust
      created pursuant to the Pooling and Servicing Agreement. This provision will
      survive the termination of this Agreement.

    

    (h) Reserved.

    

    (i) Non-petition.
      Party A
      agrees not to institute against or join any person in instituting against Party
      B any bankruptcy, reorganization, arrangement, insolvency, moratorium or
      liquidation proceeding or other similar proceeding against Party B for any
      reason whatsoever, until the payment in full of all Certificates issued under
      the Pooling and Servicing Agreement and the expiration of a period equal to
      one
      year and one day (or, if longer, the then applicable preference period)
      following all such payments; provided
      that
      nothing in this clause shall preclude, or be deemed to estop, Party A (i) from
      taking any action prior to the expiration of the aforementioned one year and
      one
      day period (or, if longer, the then applicable preference period) in (x) any
      case or proceeding voluntarily filed or commenced by Party B or (y) any
      involuntary insolvency proceeding filed or commenced against Party B by a person
      other than Party A or its Affiliates, or (ii) from commencing against Party
      B or
      any properties of Party B any legal action which is not a bankruptcy,
      reorganization, arrangement, insolvency, moratorium or liquidation proceeding.
      The provisions of this paragraph will survive the designation of any Early
      Termination Date and any termination of this Agreement. 

    

    (j) Transfers.

    

    
      	 	
              (i)

            	
              Section
                7 of this Agreement shall not apply to Party A and, subject to Section
                6(b)(ii) and Part 5(j)(ii) below, Party A may not transfer (whether
                by way
                of security or otherwise) any interest or obligation in or under
                this
                Agreement without (i) the prior written consent of Party B and (ii)
                the
                Rating Agency Condition is satisfied with respect to
                S&P.

            

    

    

    
      	 	
              (ii)

            	
              Party
                A may (at its own cost) transfer, by a Permitted Transfer at any
                time
                after 90 days of the Closing Date, all or substantially all of its
                rights
                and obligations with respect to this Agreement to any other entity
                (a
                “Transferee”) that is an Eligible Replacement, provided that Party B shall
                determine in its sole discretion, acting in a commercially reasonable
                manner, whether or not a transfer relates to all or substantially
                all of
                Party A’s rights and obligations under this Agreement. Following such
                transfer, all references to Party A shall be deemed to be references
                to
                the Transferee.

            

    

    

    
      	 	
                  (iii)

            	
              If
                an entity has made a Firm Offer to be the transferee of a transfer
                to be
                made in accordance with (ii) above, Party B shall (at Party A’s cost) at
                Party A’s written request, take any reasonable steps required to be taken
                by it to effect such transfer.

            

    

    

    (k)
       Waiver
      of Right to Trial by Jury.
      Each
      party hereby irrevocably waives, to the fullest extent permitted by applicable
      law, any right it may have to a trial by jury in respect of any suit, action
      or
      proceeding relating to this Agreement. 

    

    (l)
       Severability.
      In the
      event that any one or more of the provisions contained in this Agreement should
      be held invalid, illegal, or unenforceable in any jurisdiction, the validity,
      legality and enforceability of the remaining provisions contained herein shall
      not in any way be affected or impaired thereby. The parties shall endeavor,
      in
      good faith negotiations, to replace the invalid, illegal or unenforceable
      provisions with valid provisions, the economic effect of which comes as close
      as
      possible to that of the invalid, illegal or unenforceable
      provisions.

    

    (m)
       Additional
      Representations.
      For
      purposes of Section 3 of this Agreement, the following shall be added,
      immediately following paragraph (f) thereof:

    

    
      	 	
              (g)

            	
              No
                Reliance.
                It is acting for its own account, and it has made its own independent
                decisions to enter into that Transaction and as to whether that
                Transaction is appropriate or proper for it based upon its own judgment
                and upon advice from such advisors as it has deemed necessary. It
                is not
                relying on any communication (written or oral) of the other party
                as
                investment advice or as a recommendation to enter into that Transaction;
                it being understood that information and explanations related to
                the terms
                and conditions of a Transaction shall not be considered investment
                advice
                or a recommendation to enter into that Transaction. It has not received
                from the other party any assurance or guarantee as to the expected
                results
                of that Transaction.

            

    

    

    
      	 	
              (h)

            	
              Evaluation
                and Understanding.
                It
                is capable of evaluating and understanding (on its own behalf or
                through
                independent professional advice), and understands and accepts, the
                terms,
                conditions and risks of that Transaction. It is also capable of assuming,
                and assumes, the financial and other risks of that
                Transaction.

            

    

    

    
      	 	
              (i)

            	
              Status
                of Parties.
                The other party is not acting as a fiduciary or an advisor for it
                in
                respect of that Transaction.

            

    

    

    
      	 	
              (j)

            	
              No
                Agency.
                The other party is not acting as an agent for it in respect of the
                Transaction. Party A is entering into this Agreement and each Transaction
                as principal and not as agent. U.S. Bank is entering into this Agreement
                and each Transaction not in its individual capacity but solely as
                Cap
                Trustee on behalf of the Cap Trust.

            

    

    

    
      	 	
              (k)

            	
              Risk
                Management.
                Each of Party A and Party B represents that this Agreement has been,
                and
                each Transaction hereunder has been or will be, as the case may be,
                entered into for the purpose of managing its borrowings or investments,
                hedging its underlying assets or liabilities or in connection with
                its
                line of business (including financial intermediation services) and
                not for
                the purpose of speculation. 

            

    

    

    
      	 	
              (l)

            	
              Eligible
                Contract Participant.
                Each of Party A and Party B (a) represents that it is an “eligible
                contract participant” within the meaning of Section 1(a)(12) of the
                Commodity Exchange Act, as amended (the “CEA”), (b) this Agreement and
                each Transaction is subject to individual negotiation by each party,
                and
                (c) neither this Agreement nor any Transaction will be executed or
                traded
                on a “trading facility” within the meaning of Section 1a(33) of the
                CEA.

            

    

    

    
      	 	
              (m)

            	
              Financial
                Institution.
                Party A represents that it is a "financial institution" as defined
                in the
                Federal Deposit Insurance Corporation Improvement Act of 1991 or
                Regulation EE promulgated by the Federal Reserve Board
                thereunder.

            

    

    

    
      	 	
              (n)

            	
              FDIC
                Representation.
                Party A represents to Party B on the date on which Party A enters
                into
                each Transaction that Party A is a depository institution subject
                to the
                requirements of the Federal Deposit Insurance Act. This Agreement
                (including the Credit Support Annex and each Confirmation) has been
                authorized by all necessary corporate action of Party A, the person
                executing this Agreement on behalf of Party A is an officer of Party
                A of
                the level of vice president or higher, and this Agreement (including
                the
                Credit Support Annex and each Confirmation) will be maintained by
                Party A
                in its official books and records.

            

    

    

    
      	 	
              (o)

            	
              Capacity.
                Party A represents to Party B on the date on which Party A enters
                into
                each Transaction that it is entering into this Agreement and the
                Transaction as principal and not as agent of any person. The Cap
                Trustee
                represents to Party A on the date on which the Cap Trustee executes
                this
                Agreement not in its individual capacity but solely in its capacity
                as the
                Cap Trustee on behalf of the Cap
                Trust.

            

    

     

    (n) Recording
      of Conversations.
      Each
      party hereto consents to the recording of its telephone conversations pursuant
      to this Agreement. To the extent that one party records telephone conversations
      (the “Recording Party”) and the other party does not (the “Non-Recording
      Party”), the Recording Party shall, in the event of any dispute, make a complete
      and unedited copy of such party’s tape of the entire day’s conversations with
      the Non-Recording Party’s personnel available to the Non-Recording Party. The
      Recording Party’s tapes may be used by either party in any forum in which a
      dispute is sought to be resolved and the Recording Party will retain tapes
      for a
      consistent period of time in accordance with the Recording Party’s policy unless
      one party notifies the other that a particular transaction is under review
      and
      warrants further retention.

    

    (o) Limitation
      of Liability.
      No
      party shall be required to pay or be liable to the other party for any
      consequential, indirect or punitive damages, opportunity costs or lost profits.
      It is expressly understood and agreed by the parties hereto that insofar as
      this
      Agreement is executed by U.S. Bank National Association ("U.S. Bank") not in
      its
      individual capacity, but solely as Cap Trustee of the Cap Trust under the
      Pooling and Servicing Agreement in the exercise of the powers and authority
      conferred and invested in it thereunder; (i) U.S. Bank has been directed
      pursuant to the Pooling and Servicing Agreement to enter into this Agreement
      and
      to perform its obligations hereunder; (ii) each of the representations,
      undertakings and agreements herein made by U.S. Bank on behalf of the Cap Trust
      is made and intended not as personal representations of U.S. Bank but is made
      and intended for the purpose of binding only the Cap Trust; and (iii) nothing
      herein shall be construed as imposing any liability on U.S. Bank, individually
      or personally, to perform any covenant either express or implied contained
      herein, all such liability, being expressly waived by the parties hereto and
      by
      any person claiming by, through or under the parties hereto and under no
      circumstances shall U.S. Bank in its individual capacity be personally liable
      for any payment of any indebtedness or expenses or be personally liable for
      the
      breach or failure of any obligation, representation, warranty or covenant made
      or undertaken under this Agreement. 

    

    (p)  Transfer
      to Avoid Termination Event.
      Section
      6(b)(ii) is hereby amended by (i) deleting the words “or if a Tax Event Upon
      Merger occurs and the Burdened Party is the Affected Party,” and (ii) by
      deleting the words “to transfer” and inserting the words “to effect a Permitted
      Transfer” in lieu thereof.

    

    (q) Compliance
      with Regulation AB. 

    

    
      	 	
              (i)

            	
              Party
                A agrees and acknowledges that Citigroup Mortgage Loan Trust Inc.
                (the
                “Depositor”) may be required under Regulation AB, as defined in the
                Pooling and Servicing Agreement, to disclose certain financial information
                regarding Party A or its group of affiliated entities, if applicable,
                depending on the aggregate “significance percentage” of this Agreement and
                any other derivative contracts between Party A or its group of affiliated
                entities, if applicable, and Party B, as calculated from time to
                time in
                accordance with Item 1115 of Regulation AB.

            

    

    

    
      	 	
              (ii)
                

            	
              It
                shall be a swap disclosure event (“Swap Disclosure Event”) if, on any
                Business Day after the date hereof for so long as the Issuing Entity
                is
                required to file periodic reports under the Exchange Act with respect
                to
                the Certificates, Party B or the Depositor requests from Party A
                the
                applicable financial information described in Item 1115(b) of Regulation
                AB (such request to be based on a reasonable determination by the
                Depositor, based on "significance estimates" made in substantially
                the
                same manner as that used in the Sponsor's internal risk management
                process
                in respect of similar instruments and furnished by the Sponsor to
                the
                Depositor, or if the Sponsor does not furnish such significance estimates
                to the Depositor, based on a determination of such significance estimates
                by the Depositor in a commercially reasonable manner) (the “Swap Financial
                Disclosure”).

            

    

    

    
      	 	
              (iii)

            	
              Upon
                the occurrence of a Swap Disclosure Event, Party A, at its own expense,
                shall either (1)(a) either (i) provide to the Depositor the current
                Swap
                Financial Disclosure in an EDGAR-compatible format (for example,
                such
                information may be provided in Microsoft Word® or Microsoft Excel® format
                but not in .pdf format) or (ii) provide written consent to the Depositor
                to incorporation by reference of such current Swap Financial Disclosure
                that are filed with the Securities and Exchange Commission in the
                Exchange
                Act Reports of the Depositor, (b) if applicable, cause its outside
                accounting firm to provide its consent to filing or incorporation
                by
                reference in the Exchange Act Reports of the Depositor of such accounting
                firm’s report relating to their audits of such current Swap Financial
                Disclosure, and (c) provide to the Depositor any updated Swap Financial
                Disclosure with respect to Party A or any entity that consolidates
                Party A
                within five days of the release of any such updated Swap Financial
                Disclosure; (2) secure another entity through a Permitted Transfer
                to
                replace Party A as party to this Agreement on terms substantially
                similar
                to this Agreement, which entity (or a guarantor thereto) meets or
                exceeds
                the Approved Rating Thresholds and which entity complies with the
                requirements of Item 1115 of Regulation AB and clause (1) above,
                or (3)
                obtain a guaranty of Party A’s obligations under this Agreement from an
                affiliate of Party A that complies with the financial information
                disclosure requirements of Item 1115 of Regulation AB, and cause
                such
                affiliate to provide Swap Financial Disclosure and any future Swap
                Financial Disclosure and other information pursuant to clause (1),
                such
                that disclosure provided in respect of such affiliate will satisfy
                any
                disclosure requirements applicable to the Swap
                Provider.

            

    

    

    
      	 	
              (iv)

            	
              Party
                A agrees that, in the event that Party A provides Swap Financial
                Disclosure to the Depositor in accordance with clause (iii)(1) above
                or
                causes its affiliate to provide Swap Financial Disclosure to the
                Depositor
                in accordance with clause (iii)(3) above, it will indemnify and hold
                harmless the Depositor, its respective directors or officers and
                any
                person controlling the Depositor, from and against any and all losses,
                claims, damages and liabilities caused by any untrue statement or
                alleged
                untrue statement of a material fact contained in such Swap Financial
                Disclosure or caused by any omission or alleged omission to state
                in such
                Swap Financial Disclosure a material fact required to be stated therein
                or
                necessary to make the statements therein, in light of the circumstances
                under which they were made, not
                misleading.

            

    

    

    
      	 	
              (v)

            	
              Third
                Party Beneficiary. Depositor shall be an express third party beneficiary
                of this Agreement as if a party hereto to the extent of Depositor’s rights
                explicitly specified herein.

            

    

    

    (r) Amendment.
      Notwithstanding any provision to the contrary in this Agreement, no amendment
      of
      either this Agreement or any Transaction under this Agreement shall be permitted
      by either party unless each of the Swap Rating Agencies has been provided prior
      written notice of the same and such amendment satisfies the Rating Agency
      Condition with respect to S&P.

    

    (s) Definitions.
      Unless
      otherwise specified in a Confirmation, this Agreement and each Transaction
      under
      this Agreement are subject to the 2000 ISDA Definitions as published and
      copyrighted in 2000 by the International Swaps and Derivatives Association,
      Inc.
      (the “Definitions”), and will be governed in all relevant respects by the
      provisions set forth in the Definitions, without regard to any amendment to
      the
      Definitions subsequent to the date hereof. The provisions of the Definitions
      are
      hereby incorporated by reference in and shall be deemed a part of this
      Agreement, except that (i) references in the Definitions to a “Swap Transaction”
shall be deemed references to a “Transaction” for purposes of this Agreement,
      and (ii) references to a “Transaction” in this Agreement shall be deemed
      references to a “Swap Transaction” for purposes of the Definitions. Each term
      capitalized but not defined in this Agreement shall have the meaning assigned
      thereto in the Pooling and Servicing Agreement.

    

    (t) Additional
      Definitions.
      

    

    As
      used
      in this Agreement, the following terms shall have the meanings set forth below,
      unless the context clearly requires otherwise: 

    

    “Approved
      Ratings Threshold”
      means
      each of the S&P Approved Ratings Threshold and the Moody’s Second Trigger
      Ratings Threshold.

    

    “Derivative
      Provider Trigger Event”
      means
      (i) an Event of Default with respect to which Party A is a Defaulting Party,
      (ii) a Termination Event with respect to which Party A is the sole Affected
      Party other than a Termination Event occurring under Section 5(b)(i) or Section
      5(b)(ii), or (iii) an Additional Termination Event with respect to which Party
      A
      is the sole Affected Party.

    

    “Eligible
      Guarantee”
      means
      an
      unconditional and irrevocable guarantee of all present and future obligations
      of
      Party A or an Eligible Replacement of Party A to Party B under this Agreement
      that is provided by an Eligible Guarantor as principal debtor rather than surety
      and that is directly enforceable by Party B, the form and substance of which
      guarantee are subject to the Rating Agency Condition with respect to S&P,
      and either (A) a law firm has given a legal opinion confirming that none of
      the
      guarantor’s payments to Party B under such guarantee will be subject to
Tax
      collected by withholding or
      (B)
      such guarantee provides that, in the event that any of such guarantor’s payments
      to Party B are subject to Tax collected by withholding, such guarantor is
      required to pay such additional amount as is necessary to ensure that the net
      amount actually received by Party B (free and clear of any Tax collected by
      withholding) will equal the full amount Party B would have received had no
      such
      withholding been required.

    

    “Eligible
      Guarantor”
      means
      an
      entity that has credit ratings at least equal to the Approved Ratings Threshold.
      An Eligible Guarantor shall provide to Party B in writing all credit ratings
      described in this definition, upon request of Party B. 

    

    “Eligible
      Replacement”
      means an
      entity that has credit ratings at least equal to the Approved Ratings Threshold
      or the present and future obligations (for the avoidance of doubt, not limited
      to payment obligations) of such entity to Party B under this Agreement are
      guaranteed pursuant to an Eligible Guarantee provided by an Eligible Guarantor.
      An Eligible Replacement shall provide to Party B in writing all credit ratings
      described in this definition, upon request of Party B. 

    

    “Firm
      Offer”
      means an
      offer that will become legally binding upon acceptance.

    

    "Latest
      Settlement Amount Determination Day" means
      the
      day
      falling ten Local Business Days after the day on which the Early Termination
      Date is designated or such later day as Party B may specify in writing to Party
      A (but in either case no later than the Early Termination Date).

    

    “Moody’s”
      means
      Moody’s Investors Service, Inc., or any successor thereto. 

    

    “Moody’s
      First Trigger Ratings Event”
      means
      that no Relevant Entity has credit ratings from Moody’s at least equal to the
      Moody’s First Trigger Rating Threshold. 

    

    “Moody’s
      First Trigger Ratings Threshold”
      means,
      with respect to Party A, the guarantor under an Eligible Guarantee or an
      Eligible Replacement, (i) if such entity has both a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s and a short-term
      unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and
      unsubordinated debt rating or
      counterparty rating from
      Moody’s of “A2”and a short-term unsecured and unsubordinated debt rating from
      Moody’s of “Prime-1”, or (ii) if such entity has only a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s, a long-term
      unsecured and unsubordinated debt rating or counterparty rating from Moody’s of
“A1”.

    

    “Moody’s
      Second Trigger Ratings Event”
      means
      that no Relevant Entity has credit ratings from Moody’s at least equal to the
      Moody’s Second Trigger Ratings Threshold. 

    

    “Moody’s
      Second Trigger Ratings Threshold”
      means,
      with respect to Party A, the guarantor under an Eligible Guarantee or an
      Eligible Replacement, (i) if such entity has both a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s and a short-term
      unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a
      short-term unsecured and unsubordinated debt rating from Moody’s of “P-2”, or
      (ii) if such entity has only a long-term unsecured and unsubordinated debt
      rating or counterparty rating from Moody’s, a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s of
“A3.

    

    “Permitted
      Transfer”
      means
      a
      transfer by novation by Party A to a transferee (the “Transferee”) of all, but
      not less than all, of Party A’s rights, liabilities, duties and obligations
      under this Agreement, with
      respect to which transfer each of the following conditions is
      satisfied:
      (a) the
      Transferee is an Eligible Replacement (b) Party A and the Transferee are both
      “dealers in notional principal contracts” within the meaning of Treasury
      regulations section 1.1001-4 (c) as of the date of such transfer the Transferee
      would not be required to withhold or deduct on account of Tax from any payments
      under this Agreement or would be required to gross up for such Tax under Section
      2(d)(i)(4), (d) an Event of Default or Termination Event would not occur as
      a
      result of such transfer, (e) the transfer would not give rise to a taxable
      event
      or any other adverse Tax consequences to Party B or its interest holders, (f)
      pursuant to a written instrument (the “Transfer Agreement”), the Transferee
      acquires and assumes all rights and obligations of Party A under the Agreement
      and the relevant Transaction, (g) Party B shall have determined, in its sole
      discretion, acting in a commercially reasonable manner, that such Transfer
      Agreement is effective to transfer to the Transferee all, but not less than
      all,
      of Party A’s rights and obligations under the Agreement and all relevant
      Transactions, (h) Party A will be responsible for any costs or expenses incurred
      in connection with such transfer (including any replacement cost of entering
      into a replacement transaction); (i) either (A) Moody’s has been given prior
      written notice of such transfer and the Rating Agency Condition is satisfied
      with respect to S&P or (B) each Swap Rating Agency has been given prior
      written notice of such transfer and such transfer is in connection with the
      assignment and assumption of this Agreement without modification of its terms,
      other than party names, dates relevant to the effective date of such transfer,
      tax representations (provided that the representations in Part 2(a)(i) are
      not
      modified) and any other representations regarding the status of the substitute
      counterparty, notice information and account details; and (j) such transfer
      otherwise complies with the terms of the Pooling and Servicing
      Agreement.

    

    “Rating
      Agency Condition”
      means,
      with respect to any particular proposed act or omission to act hereunder and
      each Swap Rating Agency specified in connection with such proposed act or
      omission, that the party acting or failing to act must consult with each of
      the
      specified Swap Rating Agencies and receive from each such Swap Rating Agency
      a
      prior written confirmation that the proposed action or inaction would not cause
      a downgrade or withdrawal of the then-current rating of any Certificates or
      Notes.

    

    “Relevant
      Entity”
      means
      Party A and, to the extent applicable, a guarantor under an Eligible Guarantee
      or an Eligible Replacement.

    

    “Replacement
      Transaction”
      means,
      with respect to any Terminated Transaction or group of Terminated Transactions,
      a transaction or group of transactions that (i) would have the effect of
      preserving for Party B the economic equivalent of any payment or delivery
      (whether the underlying obligation was absolute or contingent and assuming
      the
      satisfaction of each applicable condition precedent) by the parties under
      Section 2(a)(i) in respect of such Terminated Transaction or group of Terminated
      Transactions that would, but for the occurrence of the relevant Early
      Termination Date, have been required after that Date, and (ii) has terms which
      are substantially the same as this Agreement, including, without limitation,
      rating triggers, Regulation AB compliance, and credit support documentation,
      save for the exclusion of provisions relating to Transactions that are not
      Terminated Transactions, as determined by Party B in its sole discretion, acting
      in a commercially reasonable manner.

    

    “Required
      Ratings Downgrade Event”
      means
      either a Moody’s Second Trigger Ratings Event or an S&P Required Ratings
      Downgrade Event.

    

    “Required
      Ratings Threshold”
      means
      each of the S&P Required Ratings Threshold and the Moody’s Second Trigger
      Ratings Threshold.

    

    “S&P”
      means
      Standard & Poor's Rating Services, a division of The McGraw-Hill Companies,
      Inc., or any successor thereto. 

    

    "S&P
      Approved Ratings Downgrade Event"
      means no
      Relevant Entity meets the S&P Approved Ratings Threshold.

    

    “S&P
      Approved Ratings Threshold”
      means,
      with respect to a Relevant Entity a short-term unsecured and unsubordinated
      debt
      rating from S&P of “A-1”, or, if such entity does not have a short-term
      unsecured and unsubordinated debt rating from S&P, a long-term unsecured and
      unsubordinated debt rating from S&P of “A+”.

    

    "S&P
      Required Ratings Downgrade Event"
      means no
      Relevant Entity meets the S&P Required Ratings Threshold.

    

    “S&P
      Required Ratings Threshold”
      means,
      with respect to Party A, the guarantor under an Eligible Guarantee or an
      Eligible Replacement, a long-term unsecured and unsubordinated debt rating
      from
      S&P of “BBB+”.

    

    “Swap
      Rating Agencies”
means,
      with respect to any date of determination, each of S&P or Moody’s, to the
      extent that each such rating agency is then providing a rating for any of the
      Citigroup Mortgage Loan Trust Inc., Asset-Backed Pass-Through Certificates,
      Series 2007-WFHE2 (the “Certificates”) or any notes backed by the Certificates
      (the “Notes”).

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    4. Account
      Details and Settlement Information:  

    

    
      	
              Payments
                to Party A:

            	
              Citibank,
                N.A. New York

            
	 	
              ABA
                # 021000089

            
	 	
              Account
                # 00167679

            
	 	
              Swift:
                CITIUS33

            
	 	
              Transaction
                Ref# CPC4648

            
	 	 
	
              Payments
                to Party B:

            	
              Citibank,
                N.A.

            
	 	
              New
                York, NY 10005

            
	 	
              ABA
                #021000089

            
	 	
              Acct
                Name: Structured Finance Incoming Wire Account

            
	 	
              Acct
                No. 3617-2242

            
	 	
              Ref.
                CMLTI 2007-WFHE2 CAP A/C #106540

            

    

    

    

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

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF the parties have executed this document on the respective dates
      specified below with effect from the date specified on the first page of this
      document.

    

    

    

     

    
      	
              CITIBANK,
                N.A.

            	 	
              U.S.
                Bank National Association, not in its individual capacity, but solely
                as
                Cap Trustee for the trust created pursuant to the Cap Administration
                Agreement (the “Cap Trust”) with respect to Citigroup Mortgage Loan Trust
                2007-WFHE2, Asset-Backed Pass-Through Certificates, Series
                2007-WFHE2

            
	 	 	 	 	 
	 	 	 	 	 
	
              By:

            	 	 	
              By:

            	 

    

    

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    SCHEDULE
      I 

    (All
      such dates subject to adjustment in accordance with the Following Business
      Day
      Convention)

    

    
      	
              From
                and including

            	
              To
                but excluding

            	
              Calculation
                Amount (USD)

            
	
              Effective
                Date

            	
              April
                25, 2007

            	
              3,594,914.00

            
	
              April
                25, 2007

            	
              May
                25, 2007

            	
              3,554,994.25

            
	
              May
                25, 2007

            	
              June
                25, 2007

            	
              3,507,165.32

            
	
              June
                25, 2007

            	
              July
                25, 2007

            	
              3,451,516.97

            
	
              July
                25, 2007

            	
              August
                25, 2007

            	
              3,388,181.23

            
	
              August
                25, 2007

            	
              September
                25, 2007

            	
              3,317,449.04

            
	
              September
                25, 2007

            	
              October
                25, 2007

            	
              3,239,614.11

            
	
              October
                25, 2007

            	
              November
                25, 2007

            	
              3,155,064.25

            
	
              November
                25, 2007

            	
              December
                25, 2007

            	
              3,064,269.15

            
	
              December
                25, 2007

            	
              January
                25, 2008

            	
              2,967,841.05

            
	
              January
                25, 2008

            	
              February
                25, 2008

            	
              2,867,585.82

            
	
              February
                25, 2008

            	
              March
                25, 2008

            	
              2,770,003.33

            
	
              March
                25, 2008

            	
              April
                25, 2008

            	
              2,675,504.02

            
	
              April
                25, 2008

            	
              May
                25, 2008

            	
              2,583,990.13

            
	
              May
                25, 2008

            	
              June
                25, 2008

            	
              2,495,367.04

            
	
              June
                25, 2008

            	
              July
                25, 2008

            	
              2,409,388.46

            
	
              July
                25, 2008

            	
              August
                25, 2008

            	
              2,324,781.53

            
	
              August
                25, 2008

            	
              September
                25, 2008

            	
              2,242,010.25

            
	
              September
                25, 2008

            	
              October
                25, 2008

            	
              2,160,268.54

            
	
              October
                25, 2008

            	
              November
                25, 2008

            	
              2,079,246.13

            
	
              November
                25, 2008

            	
              December
                25, 2008

            	
              1,998,661.12

            
	
              December
                25, 2008

            	
              January
                25, 2009

            	
              1,908,692.89

            
	
              January
                25, 2009

            	
              February
                25, 2009

            	
              1,734,901.46

            
	
              February
                25, 2009

            	
              March
                25, 2009

            	
              1,571,729.79

            
	
              March
                25, 2009

            	
              April
                25, 2009

            	
              1,426,226.89

            
	
              April
                25, 2009

            	
              May
                25, 2009

            	
              1,302,530.58

            
	
              May
                25, 2009

            	
              June
                25, 2009

            	
              1,244,916.61

            
	
              June
                25, 2009

            	
              July
                25, 2009

            	
              1,194,315.35

            
	
              July
                25, 2009

            	
              August
                25, 2009

            	
              1,145,476.56

            
	
              August
                25, 2009

            	
              September
                25, 2009

            	
              1,098,340.39

            
	
              September
                25, 2009

            	
              October
                25, 2009

            	
              1,052,844.69

            
	
              October
                25, 2009

            	
              November
                25, 2009

            	
              1,008,931.63

            
	
              November
                25, 2009

            	
              December
                25, 2009

            	
              966,545.49

            
	
              December
                25, 2009

            	
              January
                25, 2010

            	
              925,633.27

            
	
              January
                25, 2010

            	
              February
                25, 2010

            	
              886,143.69

            
	
              February
                25, 2010

            	
              March
                25, 2010

            	
              848,030.75

            
	
              March
                25, 2010

            	
              April
                25, 2010

            	
              811,241.12

            
	
              April
                25, 2010

            	
              May
                25, 2010

            	
              811,241.12

            
	
              May
                25, 2010

            	
              June
                25, 2010

            	
              811,241.12

            
	
              June
                25, 2010

            	
              July
                25, 2010

            	
              811,241.12

            
	
              July
                25, 2010

            	
              August
                25, 2010

            	
              795,393.33

            
	
              August
                25, 2010

            	
              September
                25, 2010

            	
              768,195.30

            
	
              September
                25, 2010

            	
              October
                25, 2010

            	
              741,939.12

            
	
              October
                25, 2010

            	
              November
                25, 2010

            	
              716,591.63

            
	
              November
                25, 2010

            	
              December
                25, 2010

            	
              692,121.04

            
	
              December
                25, 2010

            	
              January
                25, 2011

            	
              668,496.70

            
	
              January
                25, 2011

            	
              February
                25, 2011

            	
              645,689.20

            
	
              February
                25, 2011

            	
              March
                25, 2011

            	
              623,671.53

            
	
              March
                25, 2011

            	
              April
                25, 2011

            	
              602,414.32

            
	
              April
                25, 2011

            	
              May
                25, 2011

            	
              581,890.87

            
	
              May
                25, 2011

            	
              June
                25, 2011

            	
              562,075.58

            
	
              June
                25, 2011

            	
              July
                25, 2011

            	
              542,943.72

            
	
              July
                25, 2011

            	
              August
                25, 2011

            	
              524,471.51

            
	
              August
                25, 2011

            	
              September
                25, 2011

            	
              506,636.31

            
	
              September
                25, 2011

            	
              October
                25, 2011

            	
              489,415.20

            
	
              October
                25, 2011

            	
              November
                25, 2011

            	
              472,786.77

            
	
              November
                25, 2011

            	
              December
                25, 2011

            	
              456,730.22

            
	
              December
                25, 2011

            	
              January
                25, 2012

            	
              441,224.61

            
	
              January
                25, 2012

            	
              February
                25, 2012

            	
              426,249.61

            
	
              February
                25, 2012

            	
              March
                25, 2012

            	
              411,775.49

            
	
              March
                25, 2012

            	
              April
                25, 2012

            	
              397,798.32

            
	
              April
                25, 2012

            	
              May
                25, 2012

            	
              384,301.66

            
	
              May
                25, 2012

            	
              June
                25, 2012

            	
              371,268.78

            
	
              June
                25, 2012

            	
              July
                25, 2012

            	
              358,683.58

            
	
              July
                25, 2012

            	
              Termination
                Date

            	
              346,530.54

            

    

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

      
         
ANNEX
        A

      

      ISDA®

      CREDIT
        SUPPORT ANNEX

      to
        the
        Schedule to the

      ISDA
        Master Agreement

      dated
        as
        of April 10, 2007 between

      CITIBANK,
        N.A., a national banking association organized under the laws of the United
        States (hereinafter referred to as “Party
        A”
        or
“Pledgor”)

      and

      U.S.
        Bank National Association, not in its individual capacity, but solely as
        Cap
        Trustee for the trust created pursuant to the Cap Administration Agreement
        (the
“Cap Trust”) with respect to Citigroup Mortgage Loan Trust 2007-WFHE2,
        Asset-Backed Pass-Through Certificates, Series 2007-WFHE2 (hereinafter
        referred to as “Party
        B”
        or
“Secured
        Party”).

      

      For
        the
        avoidance of doubt, and notwithstanding anything to the contrary that may
        be
        contained in the Agreement, this Credit Support Annex shall relate solely
        to the
        Transaction documented in the Confirmation dated April 10, 2007, between
        Party A
        and Party B, Reference Number CPC4648. 

      

      

      Paragraph
        13. Elections and Variables

      

      (a) Security
        Interest for "Obligations".
        The term
        "Obligations" shall have the meaning set forth in Paragraph 12. 

      

      (b) Credit
        Support Obligations.

      

      (i)
        Delivery Amount, Return Amount and Credit Support Amount; Addition to Paragraph
        3.

      

      (A)
        "Delivery
        Amount"
        has the
        meaning set forth in Paragraph 3(a), as amended by deleting the words “upon a
        demand made by the Secured Party on or promptly following a Valuation Date” and
        inserting in lieu thereof the words “not later than the close of business on
        each Valuation Date”.

      

      (B)
        "Return
        Amount"
        has the
        meaning set forth in Paragraph 3(b).

      

      (C)
        "Credit
        Support Amount" for
        a
        Valuation Date shall mean zero; provided
        that,
        if
        the Threshold in respect of Party A is zero on such Valuation Date,
        "Credit
        Support Amount"
        shall
        mean one of the following if one of the following specified events have occurred
        on such Valuation Date:

      

      
        	 	
                (i)

              	
                if
                  (a) no Moody's Second Trigger Ratings Event has occurred and is
                  continuing
                  or (b) less than 30 Local Business Day have elapsed since the last
                  time
                  that no Moody's Second Trigger Rating Event had occurred and was
                  continuing, "Credit
                  Support Amount"
                  shall mean an amount in USD equal to the greater of (1) the sum
                  of (a) the
                  Secured Party’s Exposure and (b) the First Trigger Collateral Amount (as
                  defined below) for each Transaction hereunder and (2)
                  zero;

              

      

      

      
        	 	
                (ii)

              	
                so
                  long as a Moody's Second Trigger Ratings Event has occurred and
                  is
                  continuing and 30 or more Local Business Days have elapsed since
                  the last
                  time that no Moody's Second Trigger Rating Event had occurred and
                  was
                  continuing, "Credit
                  Support Amount"
                  shall mean an amount in USD equal to the greatest of (1) the sum
                  of (a)
                  the Secured Party’s Exposure and (b) the Second Trigger Collateral Amount
                  (as defined below) for each Transaction hereunder, (2) the
                  aggregate amount of the Next Payments (as defined below) for all
                  Next
                  Payment Dates (as defined below)
                  and (3) zero; and

              

      

      

      
        	 	 	
                (iii)

              	
                if
                  a Relevant Entity's rating falls below either the S&P Approved Ratings
                  Threshold or the S&P Required Ratings Thresehold and continues to
                  remain below either the S&P Approved Ratings Threshold or the S&P
                  Required Ratings Thresehold, "Credit
                  Support Amount"
                  shall mean an amount in USD equal to the greater of (1) the sum
                  of (a) the
                  Secured Party's Exposure and (b) the Notional Volatility Buffer
                  and (2)
                  zero.
                  "Notional
                  Volatility Buffer",
                  as determined by the Valuation Agent for any date, means the product
                  of
                  (i) the Scale Factor, if any, for such Transaction, or, if no Scale
                  Factor
                  is applicable for such Transaction, one, (ii) the Notional Amount
                  of the
                  Transaction on such date, and (iii) the Volatility Buffer Percentage
                  for
                  such date as set out in the table below on such date,
                  

              

      

      
      

       

      
        	
                Party
                  A S&P Rating on such date

              	
                Remaining
                  Weighted Average Life Maturity up to 3 years

              	
                Remaining
                  Weighted Average Life Maturity up to 5 years

              	
                Remaining
                  Weighted Average Life Maturity up to 10 years

              	
                Remaining
                  Weighted Average Life Maturity up to 30 years

              
	
                S&P
                  S-T Rating of "A-1" or above

              	
                0.00%

              	
                0.00%

              	
                0.00%

              	
                0.00%

              
	
                S&P
                  S-T Rating of “A-2”

              	
                2.75%

              	
                3.25%

              	
                4.0%

              	
                4.75%

              
	
                S&P
                  S-T Rating of “A-3”

              	
                3.25%

              	
                4.00%

              	
                5.0%

              	
                6.25%

              
	
                S&P
                  L-T Rating of “BB+”
                  or
                  lower

              	
                3.50%

              	
                4.50%

              	
                6.75%

              	
                7.50%

              

      

       

       

      L-T
        Rating
        means
        with respect to any Person, the unsecured, unguaranteed and otherwise
        unsupported long-term senior debt obligations of such Person. 

      

      S-T
        Rating
        means
        with respect to any Person, the unsecured, unguaranteed and otherwise
        unsupported short-term debt obligations of such Person.

      

      In
        circumstances where more than one of Paragraph 13(b)(i)(C)(i), (ii) and (iii)
        apply, the Credit Support Amount shall be calculated by reference to the
        paragraph which would result in Party A Transferring the greatest amount
        of
        Eligible Credit Support. Under no circumstances will Party A be required
        to
        Transfer more Eligible Credit Support than the greatest amount calculated
        in
        accordance with one of Paragraph 13(b)(i)(C)(i), (ii) or (iii).

      

      First
        Trigger Collateral Amount
        means,
        in respect of each Transaction hereunder on any date, an amount in USD equal
        to
        the product of (i) the
        Scale
        Factor, if any, for such Transaction, or, if no Scale Factor is applicable
        for
        such Transaction, one,
        (ii)
        Notional Amount of such Transaction on such date and (iii) the Applicable
        Percentage set forth in the table in Exhibit A hereto.

      

      “Next
        Payment”
means,
        in respect of each Next Payment Date, the greater of (i) the amount of any
        payments due to be made by Party A under Section 2(a) on such Next Payment
        Date
        less any payments due to be made by Party B under Section 2(a) on such Next
        Payment Date (in each case, after giving effect to any applicable netting
        under
        Section 2(c)) and (ii) zero.

      “Next
        Payment Date”
means
        each date on which the next scheduled payment under any Transaction is due
        to be
        paid.

      

      Second
        Trigger Collateral Amount
        means,
        in respect of each Transaction hereunder on any date, an amount in USD equal
        to
        the product of (i) the
        Scale
        Factor, if any, for such Transaction, or, if no Scale Factor is applicable
        for
        such Transaction, one,
        (ii)
        Notional Amount of such Transaction on such date and (iii) the Applicable
        Percentage set forth in the applicable table in Exhibit B hereto.

      

      (ii)
        Eligible Collateral. On
        any
        date, the following items will qualify as "Eligible
        Collateral"
        for
        Party A:

      

      (A) Valuation
        Percentage S&P

      
        	
                 

                Collateral
                  

              	
                S&P
                  Valuation 

                Percentage

              
	
                (A)  U.S.
                  Dollar Cash

              	
                100%

              
	 	 
	
                (B)  Fixed-rate
                  negotiable debt obligations issued by the U.S. Treasury Department
                  having
                  a remaining maturity on such date of not more than one
                  year

              	
                98.5%

              
	 	 
	
                (C)  Fixed-rate
                  negotiable debt obligations issued by the U.S. Treasury Department
                  having
                  a remaining maturity on such date of more than one year but not
                  more than
                  ten years

              	
                89.9%

              
	 	 
	
                (D)  Fixed-rate
                  negotiable debt obligations issued by the U.S. Treasury Department
                  having
                  a remaining maturity on such date of more than ten years

              	
                83.9%

              

      

      

      

      (B) Valuation
        Percentage Moody's

      

      
        	
                INTRUMENT

              	
                If
                  Paragraph 13(b)(i)(C)(i) applies

              	
                If
                  Paragraph 13(b)(i)(C)(ii) applies

              
	
                U.S.
                  Dollar Cash

              	
                100%

              	
                100%

              
	
                Fixed-Rate
                  Negotiable treasury Debt Issued by the U.S. Treasury Department
                  with
                  Remaining Maturity

              
	
                <1
                  Year

              	
                100%

              	
                100%

              
	
                1
                  to 2 years

              	
                100%

              	
                99%

              
	
                2
                  to 3 years

              	
                100%

              	
                98%

              
	
                3
                  to 5 years

              	
                100%

              	
                97%

              
	
                5
                  to 7 years

              	
                100%

              	
                96%

              
	
                7
                  to 10 years

              	
                100%

              	
                94%

              
	
                Floating-Rate
                  Negotiable treasury Debt Issued by the U.S. Treasury Department
                  

              
	
                All
                  Maturities

              	
                100%

              	
                99%

              

      

      

      Paragraph
        13(b)(ii)(A) shall apply if Paragraph 13(b)(i)(C)(iii) applies and Paragraph
        13
        (b)(ii)(B) shall apply if either Paragraph 13(b)(i)(C)(i) or 13(b)(i)(C)(ii)
        applies. 

      

      If
        both
        Paragraph 13(b)(ii)(A) and 13(b)(ii)B) apply: (i) no item shall qualify as
        “Eligible Collateral” for Party A unless it is specified in both such paragraphs
        and (ii) the Valuation Percentage for an item of Eligible Collateral shall
        be
        calculated by reference to the paragraph which would result in the lower
        Valuation Percentage for such item of Eligible Collateral.

       

      (iii)
        Other
        Eligible Support.
        There
        shall be no "Other Eligible Support" for either party for purposes of this
        Annex.

      

      (iv)
        Thresholds.

       

      (A)
        "Threshold"
        means
        with respect to Party A and Party B: infinity, provided that the Threshold
        with
        respect to Party A shall be zero so long as (1) a Moody’s
        First Trigger Ratings Event has
        occurred and is continuing and either (i) at least 30 Local Business Days
        have
        elapsed since the last time that no Moody’s First Trigger Ratings
        Event has
        occurred and was continuing or (ii) such Moody’s First Trigger Ratings Event has
        been continuing since this Annex was executed, or (2) (i) an
        S&P Approved Ratings Downgrade Event
        has
        occurred and is continuing and either (a) at least 30 calendar days have
        elapsed
        since the last time that S&P Approved Ratings Downgrade Event has occurred
        or (b) such S&P Approved Ratings Downgrade Event has been continuing since
        this Annex was executed or (ii) an S&P
        Required Ratings Downgrade Event
        has
        occurred and is continuing.

      

      (B)
        "Minimum
        Transfer Amount" means
        USD
        100,000 with respect to Party A and Party B; provided, however, that if the
        aggregate Certificate Principal Balance and note principal balance of
        Certificates and Notes rated by S&P ceases to be more than USD 50,000,000,
        the "Minimum
        Transfer Amount"
        shall be
        USD 50,0000.
        

      

      (C)
        Rounding.
        The
        Delivery Amount will be rounded up to the nearest integral multiple of USD
        10,000. The Return Amount will be rounded down to the nearest integral multiple
        of USD 10,000.

      

      (c)
         Valuation
        and Timing. 

      

      (i)
        "Valuation Agent"
        means
        Party A. Calculations by Party A will be made by reference to   commonly
        accepted market sources.

      

      (ii)
        "Valuation
        Date" means,
        means each Local Business Day which, if treated as a Valuation Date, would
        result in a Delivery Amount or a Return Amount.

      

      (iii)
        "Valuation Time"
        means,
        with respect to the determination of Exposure, Value of Eligible Credit Support
        and Posted Credit Support, the close of business on the Local Business Day
        immediately before the Valuation Date or date of calculation, as applicable;
        provided, that the calculations of of Value and Exposure will be made as
        of
        approximately the same time on the same date.

      

      (iv)
        "Notification
        Time"
        means
        10:00 a.m., New York time on a Valuation Date.

      

      (d)
         Conditions
        Precedent and Secured Party's Rights and Remedies.
        There
        shall be no "Specified Condition" with respect to Party A or Party
        B.

      

      (e) Substitution.

      

      (i)
        "Substitution Date"
        has the
        meaning specified in Paragraph 4(d)(ii).

      

      

      (f)
         Dispute
        Resolution.

      

      (i)
        "Resolution
        Time"
        means
        1:00 p.m., New York time, on the Local Business Day following the date on
        which
        notice is given that gives rise to a dispute under Paragraph 5.

      

      (ii)
        Value.
        For the
        purpose of Paragraphs 5(i)(C) and 5(ii), Party A will determine the Value
        of
        Eligible Credit Support or Posted Credit Support consisting of securities
        based
        upon the bid price quotations of any generally recognized dealer (which may
        include an affiliate of Party A), and adding thereto any interest accrued
        but
        not paid to any person with respect to such securities through the day on
        which
        the determination is made and multiplying the sum by the applicable Valuation
        Percentage, if any.

      

      (iii)
        Alternative.
        The
        provisions of Paragraph 5 will apply, provided, however, that in the event
        of a
        dispute regarding the Value of securities which constitute Eligible Credit
        Support or Posted Credit Support, Party B may submit mid market quotations
        from
        two other recognized dealers in which case the Value of such securities shall
        be
        the mean of the two quotations submitted by Party B.

      

      (g)
        Holding
        and Using Posted Collateral.

       

      (i)
        Eligibility
        to Hold Posted Collateral; Custodians.
        The Cap
        Trustee will be entitled to hold Posted Collateral pursuant to Paragraph
        6(b);
        provided, that Posted Collateral shall be held in a segregated Eligible Account
        or a segregated trust account.

      

      (ii)
        Use
        of Posted Collateral.
        The
        provisions of Paragraph 6(c) will not apply to Party B. Therefore, Party
        B will
        not have any of the rights specified in Paragraph 6(c)(i) or 6(c)(ii), provided,
        however, that Party B or its Custodian shall have the right to register any
        Posted Collateral that constitutes a book entry security in the name of its
        custodian.

      

      (h) Distributions
        and Interest Amount. 

      

      (i)
        Interest
        Rate.
        The
“Interest Rate” will be the actual rate earned on Posted Collateral in the form
        of Cash that is held by Party B or its Custodian. Posted Collateral in the
        form
        of Cash shall be invested in such overnight (or redeemable within two Local
        Business Days of demand) Permitted Investments rated at least (x) AAAm or
        AAAm-G
        by S&P and (y) Prime-1 by Moody’s or Aaa by Moody’s, as directed by Party A
        unless (x) an Event of Default or an Additional Termination Event has occurred
        with respect to which Party A is the defaulting or sole Affected Party or
        (y) an
        Early Termination Date has been designated, in which case such investment
        shall
        be uninvested). Gains and losses incurred in respect of any investment of
        Posted
        Collateral in the form of Cash in Permitted Investments as directed by Party
        A
        shall be for the account of Party A.

      

      (ii)
        Transfer
        of Interest Amount.
        Transfers of the Interest Amount will be made in arrears on the last Local
        Business Day of each calendar month, provided
        that
        Party B shall not be obliged to so transfer any Interest Amount unless and
        until
        it has earned and received such interest

      

      (iii)
        Alternative
        to Interest Amount.
        The
        provisions of Paragraph 6(d)(ii) will apply, provided, however, that the
        Interest Amount will compound daily.

      

      (i)
        Additional
        Representations. 

      

      Party
        A
        represents to Party B (which representation will be deemed to be repeated
        as of
        each date on which Party A, as the Pledgor, Transfers Eligible Collateral)
        that:

      

      (i)
        no
        consent, approval or other authorization of any governmental authority is
        required in connection with the Transfer of Eligible Collateral
        hereunder.

      

      (ii)
        Its
        assets exceed its liabilities. 

       

      (j)
         Other
        Eligible Support and Other Posted Support. 

      

      (i)
        "Value"
        with
        respect to Other Eligible Support and Other Posted Support shall not be
        applicable.

      

      (ii)
        "Transfer"
        with
        respect to Other Eligible Support and Other Posted Support shall not be
        applicable.

      

      (k)
         Demands
        and Notices. 

      

      All
        demands, specifications and notices under this Annex will be made pursuant
        to
        the Notices Section of this Annex, provided, that the address for Party A
        for
        such purposes shall be:

       

      Citibank
        N.A.   

      Collateral
        Management Group

      333
        West
        34th
        Street,
        2nd
        FL

      New
        York,
        NY 10001

      Telephone
        no. (212) 615-8406

      Facsimile
        no. (212) 994-0727;

      

      and
        the
        address for Party B for such purposes shall be:

      

      U.S.
        Bank
        National Association 

      One
        Federal St., 3rd
        Floor

      Boston,
        MA 02110

      Attention:
        Corporate Trust Services - CMLTI 2007-WFHE2

      Telephone
        no. (617) 856-9757

      Facsimile
        no. (617) 603-6402

      

      (l) External
        Verification.

      

      Notwithstanding
        anything to the contrary in the definitions of Valuation Agent or Valuation
        Date, at any time at which Party A (or, to the extent applicable, its Credit
        Support Provider) does not have a long-term unsubordinated and unsecured
        debt
        rating of at least “BBB+” from S&P, the Valuation Agent shall (A) calculate
        the Secured Party’s Exposure and the S&P Value of Posted Credit Support on
        each Valuation Date based on internal marks and (B) verify such calculations
        with external marks monthly by obtaining on the last Local Business Day of
        each
        calendar month two external marks for each Transaction to which this Annex
        relates and for all Posted Credit Support; such verification of the Secured
        Party’s Exposure shall be based on the higher of the two external marks. Each
        external mark in respect of a Transaction shall be obtained from an independent
        Reference Market-maker that would be eligible and willing to enter into such
        Transaction in the absence of the current derivative provider, provided that
        an
        external mark may not be obtained from the same Reference Market-maker more
        than
        four times in any 12-month period. The Valuation Agent shall obtain these
        external marks directly or through an independent third party, in either
        case at
        no cost to Party B. The Valuation Agent shall calculate on each Valuation
        Date
        (for purposes of this paragraph, the last Local Business Day in each calendar
        month referred to above shall be considered a Valuation Date) the Secured
        Party’s Exposure based on the greater of the Valuation Agent’s internal marks
        and the external marks received. If the S&P Value on any such Valuation Date
        of all Posted Credit Support then held by the Secured Party is less than
        the
        S&P Credit Support Amount on such Valuation Date (in each case as determined
        pursuant to this paragraph), Party A shall, within three Local Business Days
        of
        such Valuation Date, Transfer to the Secured Party Eligible Credit Support
        having an S&P Value as of the date of Transfer at least equal to such
        deficiency.

      

      
        	
                (m)

              	
                Agreement
                  as to Single Secured Party and Single Pledgor.
                  Party A and Party B hereby agree that, notwithstanding anything
                  to the
                  contrary in this Annex, (a) the term “Secured Party” as used in this Annex
                  means only Party B, and (b) the term “Pledgor” as used in this Annex means
                  only Party A.

              

      

      

      
        	
                (n)

              	
                Expenses.
                  Notwithstanding
                  anything to the contrary in Paragraph 10, the Pledgor will be responsible
                  for, and will reimburse the Secured Party for, all transfer and
                  other
                  taxes and other costs involved in any Transfer of Eligible
                  Collateral.

              

      

      

      (o)        
         Other
        Provisions. 

      

      (i)
        Custodian.
        A party
        shall be eligible to serve as Custodian if and for so long as it (i) is a
        trust
        company or commercial bank with trust powers, organized under the laws of
        the
        United States of America or any state thereof and subject to supervision
        or
        examination by federal or state authority, having a combined capital and
        surplus
        of at least $50,000,000 and (ii) shall have general unsecured short-term
        obligations rated at least "P-1" by Moody's and "A-1" by S&P.

       

      (ii)
        Actions
        Hereunder.
        Either
        party may take any actions hereunder, including liquidation rights, through
        its
        Custodian, and, in the case of Party A, through Salomon Smith Barney Inc.
        or any
        successor, as agent for Party A.

       

      (iii)
        Events
        of Default.
        Paragraph 7 shall be deleted and replaced in its entirety by the following
        paragraph:

      

      "For
        the
        purposes of Section 5(a)(iii)(1) of this Agreement, an Event of Default will
        exist with respect to a party if that party fails (or fails to cause its
        Custodian) to make, when due, any Transfer of Elligibile Collateral, Posted
        Collateral or the Interest Amount, as applicable, required to be made by
        it and
        that failure continues for one Local Business Day after the notice of that
        failure is given to that party, except that (A) if such failure would constitute
        an Additional Termination Event under another provision of this Agreement
        and
        (B) no more than 30 Local Business Days have elapsed since the last time
        that
        Party A satisfied the Moody's Second Trigger Ratings Threshold, then such
        failure shall be an Additional Termination Event and not an Event of
        Default".

      

      (iv)
        Address
        for Transfers.
        Each
        Transfer hereunder shall be made to the address specified below or to an
        address
        specified in writing from time to time by the party to which such Transfer
        will
        be made.

       

      Party
        A
        account details for holding collateral:  

      

      Citibank,
        N.A. New York

      ABA
        #
        021000089

      Account
        #
        00167679

      Swift:
        CITIUS33

      Transaction
        Ref# CPC4648

       

      Party
        B’s
        Custodian account details for holding collateral: 

      

      Citibank,
        N.A.

      New
        York,
        NY 10005

      ABA
        #02100089

      Acct
        Name: Structured Finance Incoming Wire Account

      Acct
        No.
        3617-2242

      Ref:
        CMLTI 2007-WFHE2 CAP Collateral A/C#106541

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Annex as of the date
        first above written.

      

      

      

      

      
        	
                Citibank,
                  N.A.

              	 	
                U.S.
                  Bank National Association, not in its individual capacity, but
                  solely as
                  Cap Trustee for the trust created pursuant to the Cap Administration
                  Agreement with respect to Citigroup Mortgage Loan Trust 2007-WFHE2,
                  Asset-Backed Pass-Through Certificates, Series
                  2007-WFHE2

              
	 	 	 	 	 
	 	 	 	 	 
	
                By:

              	 	 	
                By:

              	 
	
                Name:

              	 	 	
                Name:

              	 
	
                Title:

              	 	 	
                Title:

              	 

      

       

       

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

      

      FIRST
        TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

      

      Note:
        Please delete weekly columns

      

      
        	
                Weighted
                  Average Life of Hedge in Years

              	
                Interest
                  Rate Hedges

              	
                Currency
                  Hedges

              
	
                Valuation
                  Dates:

              
	
                Daily

              	
                Weekly

              	
                Daily

              	
                Weekly

              
	
                Less
                  than 1 year

              	
                0.15%

              	
                0.25%

              	
                1.10%

              	
                2.20%

              
	
                Equal
                  to or greater than 1 year but less than 2 years

              	
                0.30%

              	
                0.50%

              	
                1.20%

              	
                2.40%

              
	
                Equal
                  to or greater than 2 years but less than 3 years

              	
                0.40%

              	
                0.70%

              	
                1.30%

              	
                2.60%

              
	
                Equal
                  to or greater than 3 years but less than 4 years

              	
                0.60%

              	
                1.00%

              	
                1.40%

              	
                2.80%

              
	
                Equal
                  to or greater than 4 years but less than 5 years

              	
                0.70%

              	
                1.20%

              	
                1.50%

              	
                2.90%

              
	
                Equal
                  to or greater than 5 years but less than 6 years

              	
                0.80%

              	
                1.40%

              	
                1.60%

              	
                3.10%

              
	
                Equal
                  to or greater than 6 years but less than 7 years

              	
                1.00%

              	
                1.60%

              	
                1.60%

              	
                3.30%

              
	
                Equal
                  to or greater than 7 years but less than 8 years

              	
                1.10%

              	
                1.80%

              	
                1.70%

              	
                3.40%

              
	
                Equal
                  to or greater than 8 years but less than 9 years

              	
                1.20%

              	
                2.00%

              	
                1.80%

              	
                3.60%

              
	
                Equal
                  to or greater than 9 years but less than 10 years

              	
                1.30%

              	
                2.20%

              	
                1.90%

              	
                3.80%

              
	
                Equal
                  to or greater than 10 years but less than 11 years

              	
                1.40%

              	
                2.30%

              	
                1.90%

              	
                3.90%

              
	
                Equal
                  to or greater than 11 years but less than 12 years

              	
                1.50%

              	
                2.50%

              	
                2.00%

              	
                4.00%

              
	
                Equal
                  to or greater than 12 years but less than 13 years

              	
                1.60%

              	
                2.70%

              	
                2.10%

              	
                4.10%

              
	
                Equal
                  to or greater than 13 years but less than 14 years

              	
                1.70%

              	
                2.80%

              	
                2.10%

              	
                4.30%

              
	
                Equal
                  to or greater than 14 years but less than 15 years

              	
                1.80%

              	
                3.00%

              	
                2.20%

              	
                4.40%

              
	
                Equal
                  to or greater than 15 years but less than 16 years

              	
                1.90%

              	
                3.20%

              	
                2.30%

              	
                4.50%

              
	
                Equal
                  to or greater than 16 years but less than 17 years

              	
                2.00%

              	
                3.30%

              	
                2.30%

              	
                4.60%

              
	
                Equal
                  to or greater than 17 years but less than 18 years

              	
                2.00%

              	
                3.50%

              	
                2.40%

              	
                4.80%

              
	
                Equal
                  to or greater than 18 years but less than 19 years

              	
                2.00%

              	
                3.60%

              	
                2.40%

              	
                4.90%

              
	
                Equal
                  to or greater than 19 years but less than 20 years

              	
                2.00%

              	
                3.70%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 20 years but less than 21 years

              	
                2.00%

              	
                3.90%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 21 years but less than 22 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 22 years but less than 23 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 23 years but less than 24 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 24 years but less than 25 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 25 years but less than 26 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 26 years but less than 27 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 27 years but less than 28 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 28 years but less than 29 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to or greater than 29 years but less than 30 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              
	
                Equal
                  to 30 years

              	
                2.00%

              	
                4.00%

              	
                2.50%

              	
                5.00%

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      SECOND
        TRIGGER COLLATERAL AMOUNT APPLICABLE PERCENTAGES

      Note
        - delete all weekly columns

      

      For
        Transactions that are not Transaction-Specific Hedges. 

      

      “Transaction-Specific
        Hedge” means
        any
        Transaction that is a cap, floor or swaption, or a Transaction in respect
        of
        which (x) the notional amount of the swap is “balance guaranteed” or (y) the
        notional amount of the swap for any Calculation Period otherwise is not a
        specific dollar amount that is fixed at the inception of the
        Transaction.

      

      

      

      
        	
                Weighted
                  Average Life of Hedge in Years

              	
                Interest
                  Rate Swaps

              	
                Currency
                  Swaps

              
	
                Valuation
                  Dates:

              
	
                Daily

              	
                Weekly

              	
                Daily

              	
                Weekly

              
	
                Less
                  than 1 year

              	
                0.50%

              	
                0.60%

              	
                6.10%

              	
                7.25%

              
	
                Equal
                  to or greater than 1 year but less than 2 years

              	
                1.00%

              	
                1.20%

              	
                6.30%

              	
                7.50%

              
	
                Equal
                  to or greater than 2 years but less than 3 years

              	
                1.50%

              	
                1.70%

              	
                6.40%

              	
                7.70%

              
	
                Equal
                  to or greater than 3 years but less than 4 years

              	
                1.90%

              	
                2.30%

              	
                6.60%

              	
                8.00%

              
	
                Equal
                  to or greater than 4 years but less than 5 years

              	
                2.40%

              	
                2.80%

              	
                6.70%

              	
                8.20%

              
	
                Equal
                  to or greater than 5 years but less than 6 years

              	
                2.80%

              	
                3.30%

              	
                6.80%

              	
                8.40%

              
	
                Equal
                  to or greater than 6 years but less than 7 years

              	
                3.20%

              	
                3.80%

              	
                7.00%

              	
                8.60%

              
	
                Equal
                  to or greater than 7 years but less than 8 years

              	
                3.60%

              	
                4.30%

              	
                7.10%

              	
                8.80%

              
	
                Equal
                  to or greater than 8 years but less than 9 years

              	
                4.00%

              	
                4.80%

              	
                7.20%

              	
                9.00%

              
	
                Equal
                  to or greater than 9 years but less than 10 years

              	
                4.40%

              	
                5.30%

              	
                7.30%

              	
                9.20%

              
	
                Equal
                  to or greater than 10 years but less than 11 years

              	
                4.70%

              	
                5.60%

              	
                7.40%

              	
                9.30%

              
	
                Equal
                  to or greater than 11 years but less than 12 years

              	
                5.00%

              	
                6.00%

              	
                7.50%

              	
                9.50%

              
	
                Equal
                  to or greater than 12 years but less than 13 years

              	
                5.40%

              	
                6.40%

              	
                7.60%

              	
                9.70%

              
	
                Equal
                  to or greater than 13 years but less than 14 years

              	
                5.70%

              	
                6.80%

              	
                7.70%

              	
                9.80%

              
	
                Equal
                  to or greater than 14 years but less than 15 years

              	
                6.00%

              	
                7.20%

              	
                7.80%

              	
                10.00%

              
	
                Equal
                  to or greater than 15 years but less than 16 years

              	
                6.30%

              	
                7.60%

              	
                7.90%

              	
                10.00%

              
	
                Equal
                  to or greater than 16 years but less than 17 years

              	
                6.60%

              	
                7.90%

              	
                8.00%

              	
                10.00%

              
	
                Equal
                  to or greater than 17 years but less than 18 years

              	
                6.90%

              	
                8.30%

              	
                8.10%

              	
                10.00%

              
	
                Equal
                  to or greater than 18 years but less than 19 years

              	
                7.20%

              	
                8.60%

              	
                8.20%

              	
                10.00%

              
	
                Equal
                  to or greater than 19 years but less than 20 years

              	
                7.50%

              	
                9.00%

              	
                8.20%

              	
                10.00%

              
	
                Equal
                  to or greater than 20 years but less than 21 years

              	
                7.80%

              	
                9.00%

              	
                8.30%

              	
                10.00%

              
	
                Equal
                  to or greater than 21 years but less than 22 years

              	
                8.00%

              	
                9.00%

              	
                8.40%

              	
                10.00%

              
	
                Equal
                  to or greater than 22 years but less than 23 years

              	
                8.00%

              	
                9.00%

              	
                8.50%

              	
                10.00%

              
	
                Equal
                  to or greater than 23 years but less than 24 years

              	
                8.00%

              	
                9.00%

              	
                8.60%

              	
                10.00%

              
	
                Equal
                  to or greater than 24 years but less than 25 years

              	
                8.00%

              	
                9.00%

              	
                8.60%

              	
                10.00%

              
	
                Equal
                  to or greater than 25 years but less than 26 years

              	
                8.00%

              	
                9.00%

              	
                8.70%

              	
                10.00%

              
	
                Equal
                  to or greater than 26 years but less than 27 years

              	
                8.00%

              	
                9.00%

              	
                8.80%

              	
                10.00%

              
	
                Equal
                  to or greater than 27 years but less than 28 years

              	
                8.00%

              	
                9.00%

              	
                8.80%

              	
                10.00%

              
	
                Equal
                  to or greater than 28 years but less than 29 years

              	
                8.00%

              	
                9.00%

              	
                8.90%

              	
                10.00%

              
	
                Equal
                  to or greater than 29 years but less than 30 years

              	
                8.00%

              	
                9.00%

              	
                8.90%

              	
                10.00%

              
	
                Equal
                  to 30 years

              	
                8.00%

              	
                9.00%

              	
                9.00%

              	
                10.00%

              

      

      

      

      

      

      For
        Transactions that are Transaction-Specific Hedges. 

      

      
        	
                Weighted
                  Average Life of Hedge in Years

              	
                Interest
                  Rate Hedges

              	
                Currency
                  Hedges

              
	
                Valuation
                  Dates:

              
	
                Daily

              	
                Weekly

              	
                Daily

              	
                Weekly

              
	
                Less
                  than 1 year

              	
                0.65%

              	
                0.75%

              	
                6.30%

              	
                7.40%

              
	
                Equal
                  to or greater than 1 year but less than 2 years

              	
                1.30%

              	
                1.50%

              	
                6.60%

              	
                7.80%

              
	
                Equal
                  to or greater than 2 years but less than 3 years

              	
                1.90%

              	
                2.20%

              	
                6.90%

              	
                8.20%

              
	
                Equal
                  to or greater than 3 years but less than 4 years

              	
                2.50%

              	
                2.90%

              	
                7.10%

              	
                8.50%

              
	
                Equal
                  to or greater than 4 years but less than 5 years

              	
                3.10%

              	
                3.60%

              	
                7.40%

              	
                8.90%

              
	
                Equal
                  to or greater than 5 years but less than 6 years

              	
                3.60%

              	
                4.20%

              	
                7.70%

              	
                9.20%

              
	
                Equal
                  to or greater than 6 years but less than 7 years

              	
                4.20%

              	
                4.80%

              	
                7.90%

              	
                9.60%

              
	
                Equal
                  to or greater than 7 years but less than 8 years

              	
                4.70%

              	
                5.40%

              	
                8.20%

              	
                9.90%

              
	
                Equal
                  to or greater than 8 years but less than 9 years

              	
                5.20%

              	
                6.00%

              	
                8.40%

              	
                10.20%

              
	
                Equal
                  to or greater than 9 years but less than 10 years

              	
                5.70%

              	
                6.60%

              	
                8.60%

              	
                10.50%

              
	
                Equal
                  to or greater than 10 years but less than 11 years

              	
                6.10%

              	
                7.00%

              	
                8.80%

              	
                10.70%

              
	
                Equal
                  to or greater than 11 years but less than 12 years

              	
                6.50%

              	
                7.50%

              	
                9.00%

              	
                11.00%

              
	
                Equal
                  to or greater than 12 years but less than 13 years

              	
                7.00%

              	
                8.00%

              	
                9.20%

              	
                11.30%

              
	
                Equal
                  to or greater than 13 years but less than 14 years

              	
                7.40%

              	
                8.50%

              	
                9.40%

              	
                11.50%

              
	
                Equal
                  to or greater than 14 years but less than 15 years

              	
                7.80%

              	
                9.00%

              	
                9.60%

              	
                11.80%

              
	
                Equal
                  to or greater than 15 years but less than 16 years

              	
                8.20%

              	
                9.50%

              	
                9.80%

              	
                11.80%

              
	
                Equal
                  to or greater than 16 years but less than 17 years

              	
                8.60%

              	
                9.90%

              	
                10.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 17 years but less than 18 years

              	
                9.00%

              	
                10.40%

              	
                10.10%

              	
                12.00%

              
	
                Equal
                  to or greater than 18 years but less than 19 years

              	
                9.40%

              	
                10.80%

              	
                10.30%

              	
                12.00%

              
	
                Equal
                  to or greater than 19 years but less than 20 years

              	
                9.70%

              	
                11.00%

              	
                10.50%

              	
                12.00%

              
	
                Equal
                  to or greater than 20 years but less than 21 years

              	
                10.00%

              	
                11.00%

              	
                10.70%

              	
                12.00%

              
	
                Equal
                  to or greater than 21 years but less than 22 years

              	
                10.00%

              	
                11.00%

              	
                10.80%

              	
                12.00%

              
	
                Equal
                  to or greater than 22 years but less than 23 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 23 years but less than 24 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 24 years but less than 25 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 25 years but less than 26 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 26 years but less than 27 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 27 years but less than 28 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 28 years but less than 29 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to or greater than 29 years but less than 30 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              
	
                Equal
                  to 30 years

              	
                10.00%

              	
                11.00%

              	
                11.00%

              	
                12.00%

              

      

      

      

      

    

    
 

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      J

    

    FORM
      OF
      CAP ADMINISTRATION AGREEMENT

     

    
       

      This
        Cap
        Administration Agreement, dated as of March 10, 2007 (this “Agreement”), among
        U.S. Bank National Association (“U.S. Bank”), as cap trustee for the cap trust
        (in such capacity, the “Cap Trustee”), Citibank, N.A. as cap administrator (in
        such capacity, the “Cap Administrator”) and trust administrator (in such
        capacity, Trust Administrator) and Citigroup Global Markets Realty Corp.
        (“CGMRC”), as majority holder of the Class CE Certificates, or its
        designee.

       

      WHEREAS,
        the Cap Trustee, on behalf of a separate trust established hereunder which
        holds
        a Cap Contract (the “Cap Contract”), a copy of which is attached hereto as
        Exhibit A, between the Cap Trustee and Citibank, N.A. (the “Cap Provider”) is a
        counterparty to the Cap Contract;
        and

       

      WHEREAS,
        it is desirable to irrevocably appoint the Cap Trustee, and the Cap Trustee
        desires to accept such appointment, to receive and distribute funds payable
        by
        the Cap Provider to the Cap Trustee under the Cap Contract as provided herein;
        

       

      NOW,
        THEREFORE, in consideration of the mutual covenants contained herein, and
        for
        other good and valuable consideration, the receipt and adequacy of which
        are
        hereby acknowledged, the parties agree as follows: 

       

      1.  Definitions.
        Capitalized terms used but not otherwise defined herein shall have the
        respective meanings assigned thereto in the Pooling and Servicing Agreement,
        dated as of March 1, 2007 (the “Pooling and Servicing Agreement”), among
        Citigroup Mortgage Loan Trust Inc., as Depositor, Wells Fargo Bank, N.A.,
        as
        servicer, the Trust Administrator and U.S. Bank National Association (the
        “Trustee”) relating to the Citigroup Mortgage Loan Trust 2007-WFHE2 (the
“Trust”), Asset-Backed Pass-Through Certificates, Series 2007-WFHE2 (the
“Certificates”), or in the related Indenture as the case may be, as in effect on
        the date hereof. 

       

      2.  Cap
        Trust.
        There
        is hereby established a separate trust (the “Cap Trust”), into which the Cap
        Trustee shall deposit the Cap Contract. The Cap Trust shall be maintained
        by the
        Cap Trustee and administered on its behalf by the Cap Administrator. The
        sole
        assets of the Cap Trust shall be the Cap Contract and the Cap Trust Account.
        For
        the avoidance of doubt, the parties hereto acknowledge and agree that all
        functions of the Cap Trustee hereunder shall be performed on its behalf by
        the
        Cap Administrator.

       

      3.  Cap
        Trustee.
        

       

      (a)  The
        Cap
        Trustee is hereby irrevocably appointed to receive all funds paid to the
        Cap
        Trustee by the Cap Provider under the Cap Contract (including any Cap
        Termination Payment) and the Cap Trustee accepts such appointment and hereby
        agrees to receive such amounts, deposit such amounts into the Cap Trust Account
        and to distribute on each Distribution Date such amounts in the following
        order
        of priority:

       

      (i)  first,
        for deposit into the Cap Account (established under the Pooling and Servicing
        Agreement), an amount equal to the aggregate amount required for distribution
        to
        the holders of the Floating Rate Certificates pursuant to Section 4.01(a)(1)
        through 4.01(a)(7) of the Pooling and Servicing Agreement;

       

      (ii)  second,
        to CGMRC, as majority holder of the Class CE Certificates, or its designee,
        any
        amounts remaining after payment of (i) above, provided,
        however,
        upon the
        issuance of notes by an issuer (the “Trust”), secured by all or a portion of the
        Class CE Certificates and the Class P Certificates (the “NIM Notes”), CGMRC, as
        majority holder of the Class CE Certificates, or its designee, hereby instructs
        the Cap Trustee to make any payments under this clause 3(a)(ii):

       

      (A)  to
        the
        Indenture Trustee for the Trust, for deposit into the Note Account (each
        as
        defined in the related Indenture), for distribution in accordance with the
        terms
        of the Indenture until satisfaction and discharge of the Indenture;
        and

       

      (B)  after
        satisfaction and discharge of the Indenture, to the Holders of the Class
        CE
        Certificates, pro
        rata
        based on
        the outstanding Notional Amount of each such Certificate.

       

      (b)  The
        Cap
        Trustee agrees to hold any amounts received from the Cap Provider in trust
        upon
        the terms and conditions and for the exclusive use and benefit of the Trust
        Administrator (in turn for the benefit of the Certificateholders, the
        Noteholders and CGMRC) as set forth herein. The rights, duties and liabilities
        of the Cap Trustee in respect of this Agreement shall be as
        follows:

       

      (i) The
        Cap
        Trustee shall have the full power and authority to do all things not
        inconsistent with the provisions of this Agreement that may be deemed advisable
        in order to enforce the provisions hereof. The Cap Trustee shall not be
        answerable or accountable except for its own bad faith, willful misconduct or
        negligence. The Cap Trustee shall not be required to take any action to exercise
        or enforce any of its rights or powers hereunder which, in the opinion of
        the
        Cap Trustee, shall be likely to involve expense or liability to the Cap Trustee,
        unless the Cap Trustee shall have received an agreement satisfactory to it
        in
        its sole discretion to indemnify it against such liability and
        expense.

       

      (ii) The
        Cap
        Trustee shall not be liable with respect to any action taken or omitted to
        be
        taken by it in good faith in accordance with the direction of any party hereto,
        or otherwise as provided herein, relating to the time, method and place of
        conducting any proceeding for any remedy available to the Cap Trustee or
        exercising any right or power conferred upon the Cap Trustee under this
        Agreement.

       

      (iii) The
        Cap
        Trustee may perform any duties hereunder either directly or by or through
        agents
        or attorneys of the Cap Trustee. The Cap Trustee shall not be liable for
        the
        acts or omissions of its agents or attorneys so long as the Cap Trustee chose
        such Persons with due care.

       

      4.  Cap
        Trust Account.
        The Cap
        Trustee shall segregate and hold all funds received from the Cap Provider
        (including any Cap Termination Payment) separate and apart from any of its
        own
        funds and general assets and shall establish and maintain in the name of
        the Cap
        Trustee one or more segregated accounts (the “Cap Trust Account”).

       

      
        	5.  	
                 
                  Replacement Cap Contracts.
                  

              

      

       

      The
        Cap
        Trustee shall, at the direction of CGMRC, as majority holder of the Class
        CE
        Certificates, or its designee, enforce all of its rights and exercise any
        remedies under the Cap Contract. In the event the Cap Contract is terminated
        as
        a result of the designation by either party thereto of an Early Termination
        Date
        (as defined therein), CGMRC, as majority holder of the Class CE Certificates,
        or
        its designee, shall find a replacement counterparty to enter into a replacement
        cap contract.

       

      Any
        Cap
        Termination Payment received by the Cap Trustee from the Cap Provider shall
        be
        deposited into the Cap Trust Account and shall be used to make any upfront
        payment required under a replacement cap contract and any upfront payment
        received from the counterparty to a replacement cap contract shall be used
        to
        pay any Cap Termination Payment owed to the Cap Provider.

       

      Notwithstanding
        anything contained herein, in the event that a replacement cap contract cannot
        be obtained within 30 days after receipt by the Cap Trustee of the Cap
        Termination Payment paid by the terminated Cap Provider, the Cap Trustee
        shall
        deposit such Cap Termination Payment into the Cap Trust Account and the Cap
        Trustee shall, on each Distribution Date, withdraw from such account, an
        amount
        equal to the Cap Payment, if any, that would have been paid to the Cap Trust
        by
        the original Cap Provider (computed in accordance with Exhibit A) and distribute
        such amount in accordance with Section 3(a) of this Agreement. On the
        Distribution Date immediately after the termination date of the original
        Cap
        Contract, the Cap Trustee shall withdraw any funds remaining in the Cap Account
        and distribute such amount in accordance with Section 3(a)(ii) of this
        Agreement.

       

      Upon
        an
        early termination of the Cap Contract, other than in connection with the
        optional termination of the Trust pursuant to Section 9.01 of the Pooling
        and
        Servicing Agreement, the Cap Trustee will use reasonable efforts to appoint
        a
        successor cap contract provider. The Cap Trustee will apply any termination
        payment received from the original Cap Provider in connection with such early
        termination of the Cap Contract to the upfront payment required to appoint
        the
        successor cap contract provider. If the Cap Trustee is unable to appoint
        a
        successor cap contract provider within 30 days of the early termination of
        the
        Cap Contract, then the Cap Trustee will establish, and will deposit any
        termination payment received from the original Cap Provider into, a separate,
        non-interest bearing reserve account (a “Cap Termination Reserve Account”) and
        will, on each subsequent Distribution Date, withdraw from the amount then
        remaining on deposit in the Cap Termination Reserve Account an amount equal
        to
        the payment, if any, that would have been paid to the Cap Trustee by the
        original Cap Provider calculated in accordance with the terms of the original
        Cap Contract, and distribute such amount in accordance with Section 3(a)
        hereof.

       

      Upon
        an
        early termination of the Cap Contract in connection with the optional
        termination of the Trust pursuant to Section 9.01 of the Pooling and Servicing
        Agreement, if the Cap Trustee receives a termination payment from the Cap
        Provider, such termination payment will be distributed in accordance with
        Section 3(a) hereof.

       

      6.  Representations
        and Warranties of U.S. Bank.
        U.S.
        Bank represents and warrants as follows:

       

      (a)  U.S.
        Bank
        is duly organized and validly existing as a national banking company under
        the
        laws of the United States and has all requisite power and authority to execute
        and deliver this Agreement and to perform its obligations as Cap Trustee
        hereunder.

       

      (b)  The
        execution, delivery and performance of this Agreement by U.S. Bank as Cap
        Trustee have been duly authorized in the Pooling and Servicing
        Agreement.

       

      (c)  This
        Agreement has been duly executed and delivered by U.S. Bank as Cap Trustee
        and
        Trustee and is enforceable against U.S. Bank in such capacities in accordance
        with its terms, except as enforceability may be affected by bankruptcy,
        insolvency, fraudulent conveyance, reorganization, moratorium and other similar
        laws relating to or affecting creditors’ rights generally, general equitable
        principles (whether considered in a proceeding in equity or at
        law).

       

      
        	7.  	
                 Replacement
                  of Cap Trustee.

              

      

       

      Any
        corporation, bank, trust company or association into which the Cap Trustee
        may
        be merged or converted or with which it may be consolidated, or any corporation,
        bank, trust company or association resulting from any merger, conversion
        or
        consolidation to which the Cap Trustee shall be a party, or any corporation,
        bank, trust company or association succeeding to all or substantially all
        the
        corporate trust business of the Cap Trustee, shall be the successor of the
        Cap
        Trustee hereunder, without the execution or filing of any paper or any further
        act on the part of any of the parties hereto, except to the extent that
        assumption of its duties and obligations, as such, is not effected by operation
        of law.

       

      No
        resignation or removal of the Cap Trustee and no appointment of a successor
        Cap
        Trustee shall become effective until the appointment by CGMRC, as majority
        holder of the Class CE Certificates, or its designee, of a successor Cap
        Trustee. Any successor Cap Trustee shall execute such documents or instruments
        necessary or appropriate to vest in and confirm to such successor Cap Trustee
        all such rights and powers conferred by this Agreement.

       

      The
        Cap
        Trustee may resign at any time by giving written notice thereof to the other
        parties hereto. If a successor cap trustee shall not have accepted the
        appointment hereunder within 30 days after the giving by the resigning Cap
        Trustee of such notice of resignation, the resigning Cap Trustee may petition
        any court of competent jurisdiction for the appointment of a successor Cap
        Trustee.

       

      In
        the
        event of a resignation or removal of the Cap Trustee, CGMRC, as majority
        holder
        of the Class CE Certificates, or its designee, shall promptly appoint a
        successor Cap Trustee.

       

      
        	8.  	
                 Cap
                  Trustee Obligations.

              

      

       

      Whenever
        the Cap Trustee, as a party to the Cap Contract, has the option or is requested
        in such capacity, whether such request is by the Cap Provider, to take any
        action or to give any consent, approval or waiver that it is on behalf of
        the
        Cap Trust entitled to take or give in such capacity, including, without
        limitation, in connection with an amendment of such agreement or the occurrence
        of a default or termination event thereunder, the Cap Trustee shall promptly
        notify the parties hereto, of such request in such detail as is available
        to it
        and, shall, on behalf of the parties hereto, take such action in connection
        with
        the exercise and/or enforcement of any rights and/or remedies available to
        it in
        such capacity with respect to such request as CGMRC, as majority holder of
        the
        Class CE Certificates, or its designee, shall direct in writing; provided
        that
        if no such direction is received prior to the date that is established for
        taking such action or giving such consent, approval or waiver (notice of
        which
        date shall be given by the Cap Trustee to the parties hereto, if any), the
        Cap
        Trustee may abstain from taking such action or giving such consent, approval
        or
        waiver.

       

      The
        Cap
        Trustee shall forward to the parties hereto, on the Distribution Date following
        its receipt thereof copies of any and all notices, statements, reports and/or
        other material communications and information (collectively, the “Cap Reports”)
        that it receives in connection with the Cap Contract or from the counterparty
        thereto.

       

      
        	9.  	
                Miscellaneous.
                  

              

      

       

      (a)  This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York.

       

      (b)  Any
        action or proceeding against any of the parties hereto relating in any way
        to
        this Agreement may be brought and enforced in the courts of the State of
        New
        York sitting in the borough of Manhattan or of the United States District
        Court
        for the Southern District of New York and the Cap Trustee irrevocably submits
        to
        the jurisdiction of each such court in respect of any such action or proceeding.
        The Cap Trustee waives, to the fullest extent permitted by law, any right
        to
        remove any such action or proceeding by reason of improper venue or inconvenient
        forum.

       

      (c)  This
        Agreement may be amended, supplemented or modified in writing by the parties
        hereto, but only with the consent of CGMRC.

       

      (d)  This
        Agreement may not be assigned or transferred without the prior written consent
        of CGMRC and the NIMS Insurer, if any; provided, however, the parties hereto
        acknowledge and agree to the assignment of the rights of CGMRC, as majority
        holder of the Class CE Certificates, or its designee, pursuant to the Sale
        Agreement, the Trust Agreement and the Indenture.

       

      (e)  This
        Agreement may be executed by one or more of the parties to this Agreement
        on any
        number of separate counterparts (including by facsimile transmission), and
        all
        such counterparts taken together shall be deemed to constitute one and the
        same
        instrument.

       

      (f)  Any
        provision of this Agreement which is prohibited or unenforceable in any
        jurisdiction shall, as to such jurisdiction, be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof, and any such prohibition or unenforceability in any
        jurisdiction shall not invalidate or render unenforceable such provision
        in any
        other jurisdiction.

       

      (g)  The
        representations and warranties made by the parties to this Agreement shall
        survive the execution and delivery of this Agreement. No act or omission
        on the
        part of any party hereto shall constitute a waiver of any such representation
        or
        warranty.

       

      (h)  The
        article and section headings herein are for convenience of reference only,
        and
        shall not limit or otherwise affect the meaning hereof.

       

      (i)  The
        representations and warranties made by the parties to this Agreement shall
        survive the execution and delivery of this Agreement. No act or omission
        on the
        part of any party hereto shall constitute a waiver of any such representation
        or
        warranty.

       

      10.  Third-Party
        Beneficiary.
        The
        Trustee and the Indenture Trustee, if any, shall be deemed a third-party
        beneficiary of this Agreement to the same extent as if it were a party hereto,
        and shall have the right to enforce the provisions of this
        Agreement.

       

      11.  Cap
        Trustee and Trustee Rights.
        The Cap
        Trustee and the Cap Administrator shall be entitled to the same rights,
        protections and indemnities afforded to the Trust Administrator under the
        Pooling and Servicing Agreement, as if specifically set forth herein with
        respect to the Cap Trustee and the Cap Administrator.

       

      12.  Limited
        Recourse.
        It is
        expressly understood and agreed by the parties hereto that this Agreement
        is
        executed and delivered by the Trust Administrator, not in its individual
        capacity but solely as Trust Administrator under the Pooling and Servicing
        Agreement. Notwithstanding any other provisions of this Agreement, the
        obligations of the Trust Administrator under this Agreement are non-recourse
        to
        the Trust Administrator, its assets and its property, and shall be payable
        solely from the assets of the Trust Fund, and following realization of such
        assets, any claims of any party hereto shall be extinguished and shall not
        thereafter be reinstated. No recourse shall be had against any principal,
        director, officer, employee, beneficiary, shareholder, partner, member, agent
        or
        affiliate of the Trust Administrator or any person owning, directly or
        indirectly, any legal or beneficial interest in the Trust Administrator,
        or any
        successors or assigns of any of the foregoing (the “Exculpated Parties”) for the
        payment of any amount payable under this Agreement. The parties hereto shall
        not
        enforce the liability and obligations of the Trust Administrator to perform
        and
        observe the obligations contained in this Agreement by any action or proceeding
        wherein a money judgment establishing any personal liability shall be sought
        against the Trust Administrator, subject to the following sentence, or the
        Exculpated Parties. The agreements in this paragraph shall survive termination
        of this Agreement and the performance of all obligations hereunder.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
        and
        delivered as of the day and year first above written. 

       

      
        	
                U.S.
                  BANK NATIONAL ASSOCIATION,
                  as Cap Trustee

              
	
                By:

              	 
	
                Name: 

              
	
                Title: 

              
	 
	 
	
                 

                CITIGROUP
                  GLOBAL MARKETS REALTY CORP., as majority holder of the Class CE
                  Certificates

              
	
                By:

              	 
	
                Name: 

              
	
                Title: 

              
	 

      

      

      

      
        	
                Citibank,
                  N.A., as Trust Administrator and as Cap Administrator

              
	 
	
                By:

              	 
	
                Name: 

              
	
                Title: 

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        A

       

      CAP
        AGREEMENT

       

      SEE
        EXHIBIT I TO THE POOLING AND SERVICING AGREEMENT

       

      

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    SCHEDULE
      1

     

    MORTGAGE
      LOAN SCHEDULE

     

    As
      filed
      on April 5, 2007.

     

     

     

     

     

     

     

     

    
      

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    SCHEDULE
      2

     

    PREPAYMENT
      CHARGE SCHEDULE

     

    AVAILABLE
      UPON REQUESTFourth Amendment to The TRG LP 1992 Incentive Option Plan

    Exhibit
      10(a)

    

    FOURTH
      AMENDMENT TO THE TAUBMAN REALTY GROUP

    LIMITED
      PARTNERSHIP 1992 INCENTIVE OPTION PLAN

    

    (As
      Amended
      and Restated Effective as of September 30, 1997)

    

    

    WHEREAS,
      THE
      TAUBMAN REALTY
      GROUP LIMITED PARTNERSHIP, a Delaware limited partnership (including any
      successor thereto “TRG” or the “Partnership”) maintains The Taubman Realty Group
      Limited Partnership 1992 Incentive Option Plan (as Amended and Restated
      Effective as of September 30, 1997) (the “Plan”); and

    

    WHEREAS,
      pursuant to
      Section 8.1 of the Plan, the Compensation Committee (“the “Compensation
      Committee”) of the Board of Directors of Taubman Centers, Inc. (the “Company”)
      has the authority to amend the Plan; 

    

    WHEREAS,
      the Compensation
      Committee has granted Incentive Options having an exercise price equal to the
      closing trading price of the Company’s common stock (as reported by the New York
      Stock Exchange) on the date approved by the Compensation Committee to be the
      date of grant (which date was not earlier than the date the Compensation
      Committee approved such grants), effectively amending the Plan; and

    

    WHEREAS,
      the Compensation
      Committee desires to formally amend the Plan to evidence the
      foregoing.

    

    NOW,
      THEREFORE,
      the Plan is hereby
      amended as follows:

    

    1. Section
      2.11 of the
      Plan is amended in its entirety by substituting the following:

    

    “2.11 “Date
      of Grant”
means, with respect to an Incentive Option, the Business Day approved by the
      Compensation Committee to be the date of grant of such Incentive Option pursuant
      to the Plan, provided that such date shall not be earlier than the date the
      Compensation Committee approved such grant.”

    

    2. Except
      as expressly
      set forth herein, the terms and provisions of the Plan shall continue unmodified
      and are hereby confirmed and ratified.

    

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

    

    4. This
      Amendment
      shall be governed by and construed in accordance with the laws of the State
      of
      Michigan.

    

    IN
      WITNESS
      WHEREOF,
      this Amendment is
      effective as of March 6, 2007.

    

    
      	
              TAUBMAN
                REALTY GROUP,

            
	
              a
                Delaware
                limited partnership

            
	 
	
              By:  Taubman
                Centers, Inc.

            
	
              Its:  Managing
                General Partner

            
	 
	
              By:  /s/
                Lisa
                Payne   

            
	
              Lisa
                Payne

            
	 
	
              Its:  Vice
                Chairman, Chief Financial Officer,

            
	
                  and
                Director
                (Principal Financial Officer)

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