Document:

EXHIBIT 4.2

                        ASSET BACKED FUNDING CORPORATION

                                  as Purchaser

                                       and

                      BANK OF AMERICA, NATIONAL ASSOCIATION

                                    as Seller

                        MORTGAGE LOAN PURCHASE AGREEMENT

                    Fixed and Adjustable Rate Mortgage Loans

                              ABFC 2007-WMC1 Trust

                   Asset-Backed Certificates, Series 2007-WMC1

                           Dated as of October 1, 2007

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                                TABLE OF CONTENTS

ARTICLE I DEFINITIONS...........................................................

   Section 1.01.  Definitions...................................................

ARTICLE II SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE....................

   Section 2.01.  Sale of Mortgage Loans........................................

   Section 2.02.  Obligations of Seller Upon Sale...............................

   Section 2.03.  Payment of Purchase Price for the Mortgage Loans..............

   Section 2.04.  Regulation AB Compliance......................................

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

   Section 3.01.  Representations and Warranties Relating to the Mortgage Loans.

   Section 3.02.  Seller Representations and Warranties.........................

ARTICLE IV SELLER'S COVENANTS...................................................

   Section 4.01.  Covenants of the Seller.......................................

ARTICLE V TERMINATION...........................................................

   Section 5.01.  Termination...................................................

ARTICLE VI MISCELLANEOUS PROVISIONS.............................................

   Section 6.01.  Amendment.....................................................

   Section 6.02.  Governing Law.................................................

   Section 6.03.  Notices.......................................................

   Section 6.04.  Severability of Provisions....................................

   Section 6.05.  Counterparts..................................................

   Section 6.06.  Further Agreements............................................

   Section 6.07.  Intention of the Parties......................................

   Section 6.08.  Successors and Assigns; Assignment of this Agreement..........

   Section 6.09.  Survival......................................................

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      MORTGAGE LOAN PURCHASE AGREEMENT, dated as of October 1, 2007 (the
"Agreement"), between BANK OF AMERICA, NATIONAL ASSOCIATION (the "Seller") and
ASSET BACKED FUNDING CORPORATION (the "Purchaser").

                              W I T N E S S E T H:

      WHEREAS, pursuant to the Mortgage Loan Purchase Agreement (the "WMC
Purchase Agreement"), dated as of June 1, 2007, by and between the Seller, as
purchaser, and WMC Mortgage Corp. ("WMC"), as seller, the Seller is the owner of
either the notes or other evidence of indebtedness (the "Mortgage Notes") or
other evidence of ownership so indicated on the Mortgage Loan Schedule (as
defined in the Pooling and Servicing Agreement), and the other documents or
instruments constituting the Mortgage File (collectively, the "Mortgage Loans");

      WHEREAS, the Seller, as of the date hereof, owns the mortgages (the
"Mortgages") on the related real properties (the "Mortgaged Properties")
securing such Mortgage Loans, including rights (a) to any property acquired by
foreclosure or deed in lieu of foreclosure or otherwise, and (b) to the proceeds
of any insurance policies covering the Mortgage Loans or the Mortgaged
Properties or the obligors on the Mortgage Loans;

      WHEREAS, the parties hereto desire that the Seller sell the Mortgage Loans
to the Purchaser and the Purchaser purchase the Mortgage Loans from the Seller
pursuant to the terms of this Agreement; and

      WHEREAS, pursuant to the terms of a Pooling and Servicing Agreement, dated
as of October 1, 2007 (the "Pooling and Servicing Agreement"), among the
Purchaser, as depositor, Saxon Mortgage Services, Inc., as servicer (the
"Servicer"), Wells Fargo Bank, N.A., as master servicer (in such capacity, the
"Master Servicer") and securities administrator (in such capacity, the
"Securities Administrator"), and U.S. Bank National Association, as trustee (the
"Trustee"), the Purchaser will convey the Mortgage Loans to the ABFC 2007-WMC1
Trust.

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

                                    ARTICLE I

                                   DEFINITIONS

      Section 1.01. Definitions.

      All capitalized terms used but not defined herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

                                   ARTICLE II

              SALE OF MORTGAGE LOANS; PAYMENT OF PURCHASE PRICE

      Section 2.01. Sale of Mortgage Loans.

      The Seller does hereby agree to and does hereby sell, assign, set over,
and otherwise convey to the Purchaser, without recourse, on the Closing Date (i)
all of its right, title and interest in and to each Mortgage Loan and the
related Cut-off Date Principal Balance thereof, including any Related Documents;
(ii) all payments on or collections in respect of the Mortgage Loans due after
the Cut-off Date; (iii) property which secured such Mortgage Loan and which has
been acquired by foreclosure or deed in lieu of foreclosure; (iv) its interest
in any insurance policies in respect of the Mortgage Loans; (v) the rights of
the Seller under the Consulting Agreement; (vi) all of the benefits of the
guarantee provided by General Electric Capital Corporation in Section 5(f) of
the WMC Purchase Agreement and (vii) all proceeds of any of the foregoing.

      Section 2.02. Obligations of Seller Upon Sale.

      In connection with any transfer pursuant to Section 2.01 hereof, the
Seller further agrees, at its own expense, on or prior to the Closing Date, (x)
to indicate in its books and records that the Mortgage Loans have been sold to
the Purchaser pursuant to this Agreement and (y) to deliver to the Purchaser and
the Trustee (or the Custodian on behalf of the Trustee) a Mortgage Loan
Schedule.

      In connection with such transfer and assignment of the Mortgage Loans, the
Seller shall, on behalf of the Purchaser, deliver and deposit with the Trustee
(or the Custodian on behalf of the Trustee), the following documents or
instruments (with respect to each Mortgage Loan, a "Mortgage File") with respect
to each Mortgage Loan so transferred and assigned:

            (i) the original Mortgage Note, including any riders thereto,
      endorsed in blank, or with respect to any lost Mortgage Note, a Lost Note
      Affidavit, together with a copy of the related Mortgage Note;

            (ii) the original Mortgage with evidence of recording thereon
      including any riders thereto, and the original recorded power of attorney,
      if the Mortgage was executed pursuant to a power of attorney, with
      evidence of recording thereon or, if such Mortgage or power of attorney
      has been submitted for recording but has not been returned from the
      applicable public recording office, has been lost or is not otherwise
      available, a copy of such Mortgage or power of attorney, as the case may
      be, certified to be a true and complete copy of the original submitted for
      recording;

            (iii) an original Assignment (which may be in blank), in form and
      substance acceptable for recording; provided, however, if the related
      Mortgage has been recorded in the name of Mortgage Electronic Registration
      Systems, Inc. ("MERS") or its designee, no Assignment in favor of the
      Trustee will be required to be prepared or delivered and instead, the
      Servicer shall take all actions as are necessary to cause the Trust to be
      shown as the owner of the Mortgage Loan on the records of MERS for
      purposes of the system of recording transfers of beneficial ownership of
      mortgages maintained by MERS;

            (iv) an original copy of any intervening assignment of Mortgage
      showing a complete chain of assignments;

            (v) the original or a certified copy of the lender's title insurance
      policy; and

            (vi) the original or copies of each assumption, modification,
      written assurance or substitution agreement, if any.

      If any of the documents referred to in Section 2.02(ii), (iii) or (iv)
above has as of the Closing Date been submitted for recording but either (x) has
not been returned from the applicable public recording office or (y) has been
lost or such public recording office has retained the original of such document,
the obligations of the Seller to deliver such documents shall be deemed to be
satisfied upon (1) delivery to the Trustee, or the Custodian on the Trustee's
behalf, no later than the Closing Date, of a copy of each such document
certified by the Seller, in the case of (x) above or the applicable public
recording office in the case of (y) above to be a true and complete copy of the
original that was submitted for recording and (2) if such copy is certified by
the Seller, delivery to the Trustee, or the Custodian on the Trustee's behalf,
promptly upon receipt thereof of either the original or a copy of such document
certified by the applicable public recording office to be a true and complete
copy of the original. If the original lender's title insurance policy was not
delivered pursuant to Section 2.02(v) above, the Seller shall deliver or cause
to be delivered to the Trustee, or the Custodian on the Trustee's behalf, a
written commitment or interim binder or preliminary report of title issued by
the title insurance or escrow company, with the original to be delivered to the
Trustee, or the Custodian on the Trustee's behalf, promptly upon receipt
thereof. The Seller shall deliver or cause to be delivered to the Trustee, or
the Custodian on the Trustee's behalf, promptly upon receipt thereof any other
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 or modification of any Mortgage Loan. The Assignments referred to
in Section 2.02(iii) above are not required to be recorded by the Seller.

      Upon discovery or receipt of notice of any materially defective document
in, or that a document is missing from, a Mortgage File, or is materially
mutilated, damaged or torn, the Seller shall have 120 days to cure such defect
or deliver such missing document to the Trustee (or 90 days after the earlier of
Seller's discovery or receipt of notification if such defect would cause the
related Mortgage Loan not to be a "qualified mortgage" for REMIC purposes) or
150 days following the Closing Date, in the case of missing Mortgages or
Assignments, or deliver such missing document to the Trustee, or the Custodian
on the Trustee's behalf. If the Seller does not cure such defect or deliver such
missing document within such time period, the Seller shall either repurchase or
substitute for such Mortgage Loan in accordance with Section 2.03 of the Pooling
and Servicing Agreement.

      It is understood and agreed that the obligations of the Seller set forth
in this Section 2.02 to cure, repurchase or substitute for a defective Mortgage
Loan constitute the sole remedies of the Purchaser respecting a defective or
missing document.

      The Purchaser hereby acknowledges its acceptance of all right, title and
interest to the Mortgage Loans and other property, now existing and hereafter
created, conveyed to it pursuant to Section 2.01.

      The parties hereto intend that the transaction set forth herein be a sale
by the Seller to the Purchaser of all the Seller's right, title and interest in
and to the Mortgage Loans and other property described above. In the event the
transaction set forth herein is deemed not to be a sale, the Seller hereby
grants to the Purchaser a security interest in all of the Seller's right, title
and interest in, to and under the Mortgage Loans and other property described
above, whether now existing or hereafter created, to secure all of the Seller's
obligations hereunder; and this Agreement shall constitute a security agreement
under applicable law. The Seller and the Purchaser shall, to the extent
consistent with this Agreement, take such actions as may be necessary to ensure
that, if this Agreement were deemed to create a security interest in the
Mortgage Loans, such security interest would be deemed to be a perfected
security interest of first priority under applicable law and will be maintained
as such throughout the term of the Pooling and Servicing Agreement.

      Section 2.03. Payment of Purchase Price for the Mortgage Loans.

      In consideration of the sale of the Mortgage Loans from the Seller to the
Purchaser on the Closing Date, the Purchaser agrees (i) to pay to the Seller on
the Closing Date by transfer of immediately available funds, as directed by the
Seller, an amount equal to $[_______], and (ii) to deliver to or at the
direction of the Seller on the Closing Date, a 100% interest in each of the
Class R Certificates and the Class R-X Certificates (clauses (i) and (ii)
together, the "Purchase Price"). The Seller shall pay, and be billed directly
for, all reasonable expenses incurred by the Purchaser in connection with the
issuance of the Certificates, including, without limitation, printing fees
incurred in connection with the prospectus relating to the Certificates, blue
sky registration fees and expenses, fees and reasonable expenses of Purchaser's
counsel, fees of the rating agencies requested to rate the Certificates,
accountant's fees and expenses and the fees and expenses of the Trustee and
other out-of-pocket costs, if any.

      Section 2.04. Regulation AB Compliance.

      For so long as the Securities Administrator is required to file any report
with the Commission pursuant to Section 3.33 of the Pooling and Servicing
Agreement, the Seller shall furnish to the Securities Administrator, on each
Distribution Date, the "significance estimate" of the Interest Rate Swap
Agreement, in each case calculated in accordance with Item 1115 of Regulation AB
as of such Distribution Date.

                                   ARTICLE III

             REPRESENTATIONS AND WARRANTIES; REMEDIES FOR BREACH

      Section 3.01. Representations and Warranties Relating to the Mortgage
Loans.

      The representations and warranties with respect to the Mortgage Loans in
the WMC Purchase Agreement were made as of the date set forth in the WMC
Purchase Agreement. The Seller's right, title and interest in such
representations and warranties and the remedies in connection therewith have
been assigned to the Purchaser pursuant Section 2.01 hereof. To the extent that
any fact, condition or event with respect to a Mortgage Loan constitutes a
breach of both (i) a representation or warranty of WMC under the WMC Purchase
Agreement and (ii) a representation or warranty of the Seller under this
Agreement (other than Section 3.01(xi) and (xix) below), the only right or
remedy of the Purchaser shall be the right to enforce the obligations of WMC
under any applicable representation or warranty made by it. The Purchaser
acknowledges and agrees that the representations and warranties of the Seller in
this Section 3.01 are applicable only to facts, conditions or events that do not
constitute a breach of any representation or warranty made by WMC in the WMC
Purchase Agreement. The Seller shall have no obligation or liability with
respect to any breach of a representation or warranty made by it with respect to
the Mortgage Loans (other than the representations and warranties made in
Sections 3.01(xi) and (xix) below) if the fact, condition or event constituting
such breach also constitutes a breach of a representation or warranty made by
WMC in the WMC Purchase Agreement, without regard to whether WMC fulfills its
contractual obligations in respect of such representation or warranty. If,
however, WMC fails to reimburse the Trust for any costs or damages incurred by
the Trust in connection with a breach of WMC's representations and warranties
with respect to abusive or predatory lending laws set forth in Section 5 of the
WMC Purchase Agreement (such amount, the "Reimbursement Amount"), the Seller
shall pay the Reimbursement Amount to the Trust. The Reimbursement Amount shall
be delivered to the Securities Administrator for deposit into the Distribution
Account within ten (10) days from the date the Seller was notified by the
Securities Administrator, the Master Servicer, the Servicer or the Trustee of
the amount of such costs and damages.

      In addition, the Seller hereby agrees that if WMC repurchases a Mortgage
Loan pursuant to Section 5(e) of the WMC Purchase Agreement and the Repurchase
Price (as defined in the WMC Purchase Agreement) is less than the Purchase Price
(as defined in the Pooling and Servicing Agreement) for such Mortgage Loan set
forth in Section 2.03 of the Pooling and Servicing Agreement, the Seller shall
remit any difference between such prices (the "BANA Purchase Price Adjustment
Amount") to the Securities Administrator for deposit into the Distribution
Account no later than two business days (2) from the date the Seller was
notified by the Securities Administrator of (i) the amount remitted by WMC to
the Securities Administrator with respect to such Mortgage Loan and (ii) the
Purchase Price (as defined in the Pooling and Servicing Agreement) for such
Mortgage Loan. For avoidance of doubt, the Seller will not be obligated to remit
the BANA Purchase Price Adjustment Amount in the event of any default by WMC of
its obligation to purchase a Mortgage Loan or any default by General Electric
Capital Corporation under its guarantee in the WMC Purchase Agreement.

      With respect to the representations and warranties set forth in the WMC
Purchase Agreement or this Agreement that are made to the best of WMC's or the
Seller's knowledge, as applicable, or as to which WMC or the Seller, as the case
may be, has no knowledge, if it is discovered by the Depositor, the Servicer,
the Securities Administrator, the Master Servicer, the NIMS Insurer or the
Trustee that the substance of such representation and warranty is inaccurate and
such inaccuracy materially and adversely affects the value of the related
Mortgage Loan, Prepayment Charge or the interest therein of the
Certificateholders then, notwithstanding WMC's or the Seller's lack of knowledge
with respect to the substance of such representation and warranty being
inaccurate at the time the representation or warranty was made, the Seller
hereby agrees to repurchase such Mortgage Loan in accordance with the provisions
set forth in the Pooling and Servicing Agreement.

      Subject to the foregoing, the Seller represents and warrants upon delivery
of the Mortgage Loans to the Purchaser hereunder, as to each, that:

            (i) The information set forth with respect to the Mortgage Loans on
      the Mortgage Loan Schedule provides an accurate listing of the Mortgage
      Loans, and the information with respect to each Mortgage Loan on the
      Mortgage Loan Schedule is true and correct in all material respects at the
      date or dates on which such information is given;

            (ii) As of the Cut-off Date, no Mortgage Loan was delinquent under
      the Office of Thrift Supervision method for calculating delinquencies. The
      Seller has not waived any default, breach, violation or event of
      acceleration, and the Seller has not taken any action to waive any
      default, breach, violation or event of acceleration, with respect to any
      Mortgage Loan;

            (iii) There are no delinquent taxes, assessments that could become a
      lien prior to the related Mortgage or insurance premiums affecting the
      related Mortgaged Property;

            (iv) Each Mortgage has not been satisfied, canceled, subordinated or
      rescinded, in whole or in part, and the related 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,
      cancellation, subordination, rescission or release;

            (v) Other than any Mortgage Loan that is less than 30 days
      contractually delinquent as of the Cut-off Date, there is no material
      default, breach, violation or event of acceleration existing under any
      Mortgage or the related 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 material default, breach, violation or event of
      acceleration, and neither the Seller nor its predecessors have waived any
      material default, breach, violation or event of acceleration;

            (vi) Each Mortgaged Property is free of material damage that would
      affect adversely the value of the Mortgaged Property as security for the
      Mortgage Loan or the use for which the premises were intended;

            (vii) To the best of the Seller's knowledge, there is no proceeding
      pending for the total or partial condemnation of the Mortgaged Property;

            (viii) As of the date of origination, each Mortgaged Property was
      lawfully occupied under applicable law and to the Seller's knowledge, each
      Mortgaged Property is lawfully occupied as of the date hereof; all
      inspections, licenses and certificates required to be made or issued with
      respect to all occupied portions of each Mortgaged Property and, with
      respect to the use and occupancy of the same, including but not limited to
      certificates of occupancy, have been made or obtained from the appropriate
      authorities, except where the failure would not have a material adverse
      effect upon the Mortgage Loan;

            (ix) As of the Closing Date, no Mortgage Loan is in foreclosure;

            (x) As of the Closing Date, each Mortgage Loan is a "qualified
      mortgage" within the meaning of Section 860G of the Code and Treas. Reg
      ss. 1.860G-2;

            (xi) Any and all requirements of any federal, state or local law
      including, without limitation, usury, truth in lending, real estate
      settlement procedures, consumer credit protections, all applicable
      predatory and abusive lending laws, equal credit opportunity or disclosure
      laws applicable to the origination of each Mortgage Loan have been
      complied with;

            (xii) No Mortgage Loan is a "high cost" loan as defined under any
      federal, state or local law applicable to such Mortgage Loan at the time
      of its origination;

            (xiii) The Seller is the sole owner of record and holder of the
      Mortgage Loan and the 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, agreements with other parties to sell or otherwise
      transfer the Mortgage Loan, 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), charges or security
      interests of any nature encumbering such Mortgage Loan;

            (xiv) 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, if necessary, to protect the interests
      of the Purchaser and maintain the lien priority of the Mortgage and which
      has been delivered to the Purchaser or its designee. The substance of any
      such waiver, alteration or modification has been approved by the title
      insurer, to the extent required by the policy, and its terms are reflected
      on the Mortgage Loan Schedule. No instrument of waiver, alteration or
      modification has been executed, and no Mortgagor has been released, in
      whole or in part, except in connection with an assumption agreement
      approved by the title insurer, to the extent required by the policy, and
      which assumption agreement is part of the Mortgage File delivered to the
      Purchaser or its designee and the terms of which are reflected on the
      related Mortgage Loan Schedule;

            (xv) The Seller has not dealt with any broker, investment banker,
      agent or other Person (other than WMC and Banc of America Securities LLC)
      who may be entitled to any commission or compensation in connection with
      the sale of the Mortgage Loans;

            (xvi) Each Mortgage is a valid, subsisting enforceable and perfected
      first or second lien and first priority security interest on the related
      Mortgaged Property, including all buildings on such 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:

                  (a) the lien of current real property taxes and assessments
            not yet due and payable;

                  (b) 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 to otherwise considered in the appraisal made for the originator
            of the Mortgage Loan or (ii) which do not adversely affect the
            appraised value of the Mortgaged Property set forth in such
            appraisal;

                  (c) 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;
            and

                  (d) with respect to each second lien Mortgage, a prior
            mortgage lien on the Mortgaged Property;

            (xvii) The Mortgage Loan is covered by (a) an attorney's opinion of
      title and abstract of title the form and substance of which is acceptable
      to Fannie Mae, (b) an ALTA lender's title insurance policy or (c) a CLTA
      lender's title insurance policy or (d) another generally acceptable form
      of policy of insurance issued by a title insurer qualified to do business
      in the jurisdiction where the Mortgaged Property is located insuring the
      related originator, its successors and assigns, as to the first or second
      priority lien of the Mortgage in the original principal amount of the
      Mortgage Loan subject only to the exceptions contained in clauses (a), (b)
      and (c), and with respect to each second lien Mortgage Loan clause (d), of
      paragraph (xvi) of this Section 3.01, and against any loss by reason of
      the invalidity of unenforceability of the lien resulting from the
      provisions of the Mortgage providing for adjustment in the Mortgage
      Interest Rate and Monthly Payment. Additionally, such lender's title
      insurance policy affirmatively insures ingress and egress, and against
      encroachments by or upon the Mortgaged Property or any interest therein.
      Where required by state law or regulation, the Mortgagor has been given
      the opportunity to choose the carrier of such lender's title insurance
      policy. The originator, its successors and assigns, are the sole insureds
      of such lender's title insurance policy, and such lender's title insurance
      policy is valid and remains in full force and effect and will be in full
      force and effect upon the sale of the Mortgage Loan to the Purchaser. No
      claims have been made under such lender's title insurance policy, and no
      prior holder of the Mortgage, including the originator or the Seller, has
      done anything which would impair the coverage of such lender's title
      insurance policy. In connection with the issuance of such lender's title
      insurance policy, no unlawful fee, commission, kickback or other unlawful
      compensation or value of any kind has been or will be received, retained
      or realized by any attorney, firm or other person or entity, and no such
      unlawful items have been received, retained or realized by the originator
      or the Seller;

            (xviii) 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 (A) first lien
      and first priority security interest with respect to each first lien
      Mortgage Loan, or (B) second lien and second priority security interest
      with respect to each second lien Mortgage Loan, in either case, on the
      property described therein and the originator has full right to sell and
      assign the same to the Purchaser. The Mortgaged Property was not, as of
      the date of origination of the Mortgage Loan, subject to a mortgage, deed
      of trust, deed to secure debt or other security instrument creating a lien
      subordinate to the lien of the Mortgage; and

            (xix) No Mortgage Loan is a High Cost Loan or Covered Loan, as
      applicable (as such terms are defined in the then-current version of
      Standard & Poor's LEVELS(R) Glossary, which as of the date hereof is
      Version 6.0, Appendix E) and no Mortgage Loan originated on or after
      October 1, 2002 through March 6, 2003 is governed by the Georgia Fair
      Lending Act.

      It is understood and agreed that the representations and warranties set
forth in this Section 3.01 shall survive delivery of the respective Mortgage
Files to the Trustee (or Custodian) on behalf of the Purchaser and shall inure
to the benefit of the Certificateholders notwithstanding any restrictive or
qualified endorsement or assignment.

      Subject to the second paragraph of this Section 3.01, upon discovery or
receipt of written notice of any materially defective document in, or that a
document is missing from, a Mortgage File or of a breach of any of the
representations and warranties contained in this Article III that materially and
adversely affects the value of any Mortgage Loan, Prepayment Charge or the
interest therein of the Purchaser or the Purchaser's assignee, transferee or
designee, the Seller shall, within 90 days of the earlier of its discovery or
its receipt of notice of any such breach promptly cure such breach in all
material respects, or in the event such breach cannot be cured, the Seller shall
repurchase the affected Mortgage Loan or cause the removal of such Mortgage Loan
from the Trust Fund and substitute for it one or more Eligible Substitute
Mortgage Loans, in either case, in accordance with Section 2.03 of the Pooling
and Servicing Agreement. Any breach of the Seller's representations and
warranties with respect to predatory and abusive lending laws in clauses (xi)
and (xix) of this Section with respect to a Mortgage Loan shall automatically be
deemed to materially and adversely affect such Mortgage Loan or the interest of
the related Certificateholders therein.

      It is understood and agreed that the obligations of the Seller set forth
in this Section 3.01 to cure, repurchase or substitute for a Mortgage Loan as a
result of a breach of a representation or warranty, subject to the limitation
contained in the first paragraph of this Section 3.01, and to pay the
Reimbursement Amount constitute the sole remedies of the Purchaser respecting a
breach of the representations or warranties contained in this Section 3.01.

      Section 3.02. Seller Representations and Warranties.

      The Seller hereby represents and warrants to the Purchaser that as of the
Closing Date or as of such date specifically provided herein:

            (a) The Seller is duly organized, validly existing and in good
      standing as a national banking association under the laws of the United
      States and has the power and authority to own its assets and to transact
      the business in which it is currently engaged. The Seller is duly
      qualified to do business and is in good standing in each jurisdiction in
      which the character of the business transacted by it or properties owned
      or leased by it requires such qualification and in which the failure to so
      qualify would have a material adverse effect on (i) its business,
      properties, assets or condition (financial or other), (ii) the performance
      of its obligations under this Agreement, (iii) the value or marketability
      of the Mortgage Loans, or (iv) its ability to foreclose on the related
      Mortgaged Properties.

            (b) The Seller has the power and authority to make, execute, deliver
      and perform this Agreement and to consummate all of the transactions
      contemplated hereunder and has taken all necessary action to authorize the
      execution, delivery and performance of this Agreement. When executed and
      delivered, this Agreement will constitute the Seller's legal, valid and
      binding obligation enforceable in accordance with its terms, except as
      enforcement of such terms may be limited by (i) bankruptcy, insolvency,
      reorganization, receivership, moratorium or similar laws affecting the
      enforcement of creditors' rights generally or creditors of national banks
      and by the availability of equitable remedies, (ii) general equity
      principles (regardless of whether such enforcement is considered in a
      proceeding in equity or at law) or (iii) public policy considerations
      underlying the securities laws, to the extent that such policy
      considerations limit the enforceability of the provisions of this
      Agreement which purport to provide indemnification from securities laws
      liabilities.

            (c) The Seller holds all necessary licenses, certificates and
      permits from all governmental authorities necessary for conducting its
      business as it is presently conducted, except for such licenses,
      certificates and permits the absence of which, individually or in the
      aggregate, would not have a material adverse effect on the ability of the
      Seller to conduct its business as it is presently conducted. The Seller is
      not required to obtain the consent of any other party or any consent,
      license, approval or authorization from, or registration or declaration
      with, any governmental authority, bureau or agency in connection with the
      execution, delivery, performance, validity or enforceability of this
      Agreement, except for such consents, licenses, approvals or
      authorizations, or registrations or declarations as shall have been
      obtained or filed, as the case may be, prior to the Closing Date.

            (d) The execution and delivery of this Agreement and the
      consummation of the transactions contemplated herein (i) will not conflict
      with or constitute a breach of, or default under, or result in the
      creation or imposition of any lien, charge or encumbrance upon any
      property or assets of the Seller pursuant to any material contract,
      indenture, mortgage, loan agreement, note, lease or other instrument,
      agreement or document to which the Seller is a party or by which it may be
      bound or to which any of the property or assets of the Seller is subject,
      (ii) will not result in any violation of the provisions of the charter or
      by-laws of the Seller, or any law, administrative regulation or
      administrative or court decree applicable to the Seller and (iii) will not
      require any filing or registration with or notice to or consent, approval,
      authorization or order of any court or governmental authority or agency.

            (e) The transactions contemplated by this Agreement are in the
      ordinary course of the Seller's business.

            (f) The Seller is not insolvent, nor will the Seller be made
      insolvent by the transfer of the Mortgage Loans, nor is the Seller aware
      of any pending insolvency.

            (g) The Seller is not in violation of, and the execution and
      delivery of this Agreement by it and its performance and compliance with
      the terms of this Agreement will not constitute a violation with respect
      to any order or decree of any court, or any order or regulation of any
      federal, state, municipal or governmental agency having jurisdiction,
      which violation would materially and adversely affect the Seller's
      condition (financial or otherwise) or operations or any of the Seller's
      properties, or materially and adversely affect the performance of any of
      its duties hereunder.

            (h) There are no actions or proceedings against, or investigations
      of, the Seller pending or, to its knowledge, threatened, before any court,
      administrative agency or other tribunal (i) that, if determined adversely,
      would prohibit the Seller from entering into this Agreement, (ii) seeking
      to prevent the consummation of any of the transactions contemplated by
      this Agreement or (iii) that, if determined adversely, would prohibit or
      materially and adversely affect the Seller's performance of any of its
      respective obligations under, or the validity or enforceability of, this
      Agreement.

            (i) The Seller is not transferring the Mortgage Loans to the
      Purchaser hereunder with any intent to hinder, delay or defraud any of its
      creditors.

            (j) The Seller acquired title to the Mortgage Loans in good faith,
      without notice of any adverse claims.

            (k) The transfer, assignment and conveyance of the Mortgage Notes
      and the Mortgages by the Seller pursuant to this Agreement are not subject
      to the bulk transfer laws or any similar statutory provisions in effect in
      any applicable jurisdiction.

                                   ARTICLE IV

                               SELLER'S COVENANTS

      Section 4.01. Covenants of the Seller.

      The Seller hereby covenants that except for the transfer hereunder, the
Seller will not sell, pledge, assign or transfer to any other Person, or grant,
create, incur, assume or suffer to exist any lien on any Mortgage Loan, or any
interest therein; the Seller will notify the Trustee, as assignee of the
Purchaser, of the existence of any lien on any Mortgage Loan immediately upon
discovery thereof, and the Seller will defend the right, title and interest of
the Trust, as assignee of the Purchaser, in, to and under the Mortgage Loans,
against all claims of third parties claiming through or under the Seller;
provided, however, that nothing in this Section 4.01 shall prevent or be deemed
to prohibit the Seller from suffering to exist upon any of the Mortgage Loans
any liens for municipal or other local taxes and other governmental charges if
such taxes or governmental charges shall not at the time be due and payable or
if the Seller shall currently be contesting the validity thereof in good faith
by appropriate proceedings and shall have set aside on its books adequate
reserves with respect thereto.

                                    ARTICLE V

                                   TERMINATION

      Section 5.01. Termination.

      The respective obligations and responsibilities of the Seller and the
Purchaser created hereby shall terminate upon the termination of the Trust as
provided in Article X of the Pooling and Servicing Agreement.

                                   ARTICLE VI

                            MISCELLANEOUS PROVISIONS

      Section 6.01. Amendment.

      This Agreement may be amended from time to time by the Seller and the
Purchaser, by written agreement signed by the Seller and the Purchaser.

      Section 6.02. Governing Law.

      This Agreement shall be governed by and construed in accordance with the
laws of the State of New York and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

      Section 6.03. Notices.

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

            if to the Seller:

            Bank of America, National Association
            214 North Tryon Street
            Charlotte, North Carolina 28255
            Attention:  General Counsel

or such other address as may hereafter be furnished to the Purchaser in
writing by the Seller.

            if to the Purchaser:

            Asset Backed Funding Corporation
            214 North Tryon Street
            21st Floor
            Charlotte, North Carolina 28255
            Attention:  Bruce W. Good

or such other address as may hereafter be furnished to the Seller in writing
by the Purchaser.

      Section 6.04. Severability of Provisions.

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

      Section 6.05. Counterparts.

      This Agreement may be executed in one or more counterparts by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original and such counterparts, together,
shall constitute one and the same agreement.

      Section 6.06. Further Agreements.

      The Purchaser and the Seller each agree to execute and deliver to the
other such additional documents, instruments or agreements as may be necessary
or reasonable and appropriate to effectuate the purposes of this Agreement or in
connection with the issuance of any Series of Certificates representing
interests in the Mortgage Loans.

      Without limiting the generality of the foregoing, as a further inducement
for the Purchaser to purchase the Mortgage Loans from the Seller, the Seller
will cooperate with the Purchaser in connection with the sale of any of the
securities representing interests in the Mortgage Loans. In that connection, the
Seller will provide to the Purchaser any and all information and appropriate
verification of information, whether through letters of its auditors and counsel
or otherwise, as the Purchaser shall reasonably request and will provide to the
Purchaser such additional representations and warranties, covenants, opinions of
counsel, letters from auditors, and certificates of public officials or officers
of the Seller as are reasonably required in connection with such transactions
and the offering of investment grade securities rated by the Rating Agencies.

      Section 6.07. Intention of the Parties.

      It is the intention of the parties that the Purchaser is purchasing, and
the Seller is selling, the Mortgage Loans rather than the pledging of the
Mortgage Loans by the Seller to secure a loan by the Purchaser to the Seller.
Accordingly, the parties hereto each intend to treat the transaction for federal
income tax purposes and all other purposes as a sale by the Seller and a
purchase by the Purchaser of the Mortgage Loans. The Purchaser will have the
right to review the Mortgage Loans and the related Mortgage Files to determine
the characteristics of the Mortgage Loans which will affect the federal income
tax consequences of owning the Mortgage Loans and the Seller will cooperate with
all reasonable requests made by the Purchaser in the course of such review.

      Section 6.08. Successors and Assigns; Assignment of this Agreement.

      This Agreement shall bind and inure to the benefit of and be enforceable
by the Seller, the Purchaser and the Trustee. The obligations of the Seller
under this Agreement cannot be assigned or delegated to a third party without
the consent of the Purchaser and which consent shall be at the Purchaser's sole
discretion, except that the Purchaser acknowledges and agrees that the Seller
may assign its obligations hereunder to any Person into which the Seller is
merged or any corporation resulting from any merger, conversion or consolidation
to which the Seller is a party or any Person succeeding to the business of the
Seller. The parties hereto acknowledge that the Purchaser is acquiring the
Mortgage Loans for the purpose of contributing them to a trust that will issue a
series of certificates representing undivided interests in such Mortgage Loans.
As an inducement to the Purchaser to purchase the Mortgage Loans, the Seller
acknowledges and consents to the assignment by the Purchaser to the Trustee of
all of the Purchaser's rights against the Seller pursuant to this Agreement
insofar as such rights relate to Mortgage Loans transferred to the Trustee and
to the enforcement or exercise of any right or remedy against the Seller
pursuant to this Agreement by the Trustee. Such enforcement of a right or remedy
by the Trustee shall have the same force and effect as if the right or remedy
had been enforced or exercised by the Purchaser directly.

      Section 6.09. Survival.

      The representations and warranties set forth in Sections 3.01 and 3.02
hereof shall survive the purchase of the Mortgage Loans hereunder.

                            [SIGNATURE PAGE FOLLOWS]

<PAGE>

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

                                    ASSET BACKED FUNDING CORPORATION,
                                    as Purchaser

                                    By:    /s/ Juanita L. Deane-Warner
                                           -----------------------------------
                                    Name:  Juanita L. Deane-Warner
                                    Title: Vice President

                                    BANK OF AMERICA, NATIONAL ASSOCIATION,
                                    as Seller

                                    By:    /s/ Bruce W. Good
                                           -----------------------------------
                                    Name:  Bruce W. Good
                                    Title: Principal

   [Signature Page to the ABFC 2007-WMC1 Mortgage Loan Purchase Agreement]

<PAGE>

STATE OF NEW YORK             )
                              )     ss.:
COUNTY OF NEW YORK            )

      On the 5th day of November 2007 before me, a Notary Public in and for said
State, personally appeared Juanita L. Deane-Warner, known to me to be a Vice
President of Asset Backed Funding Corporation, the corporation that executed the
within instrument, and also known to me to be the person who executed it on
behalf of said corporation, 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

                                          My Commission expires the ___ day
                                          of ___________, 20___.

     [Notary page to the ABFC 2007-WMC1 Mortgage Loan Purchase Agreement]

<PAGE>

STATE OF NORTH CAROLINA       )
                              )     ss.:
COUNTY OF MECKLENBURG         )

      On the 5th day of November 2007 before me, a Notary Public in and for said
State, personally appeared Bruce W. Good, known to me to be a Principal of Bank
of America, National Association, the association that executed the within
instrument, and also known to me to be the person who executed it on behalf of
said association, and acknowledged to me that such association 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

                                          My Commission expires the ___ day
                                          of ___________, 20___.

     [Notary page to the ABFC 2007-WMC1 Mortgage Loan Purchase Agreement]EXHIBIT 10.1

                        MORTGAGE LOAN PURCHASE AGREEMENT

                                     between

                               WMC MORTGAGE CORP.

                                     Seller

                                       and

                      BANK OF AMERICA, NATIONAL ASSOCIATION

                                    Purchaser

                      Residential Fixed and Adjustable Rate

                            First Lien Mortgage Loans

                            Dated as of June 1, 2007

<PAGE>

                                TABLE OF CONTENTS

SECTION 1.      Agreement to Purchase.......................................

SECTION 2.      Mortgage Loan Schedules.....................................

SECTION 3.      Purchase Price; Payments....................................

SECTION 4.      Closing.....................................................

SECTION 5.      Representations, Warranties and Covenants of Seller.........

SECTION 6.      Closing Documents...........................................

SECTION 7.      Costs.......................................................

SECTION 8.      Servicing...................................................

SECTION 9.      Hazard Insurance............................................

SECTION 10.     No Solicitation.............................................

SECTION 11.     Confidentiality.............................................

SECTION 12.     Survival of Agreement.......................................

SECTION 13.     Notices.....................................................

SECTION 14.     Severability Clause.........................................

SECTION 15.     Counterparts; Facsimile Signatures..........................

SECTION 16.     Place of Delivery and Governing Law.........................

SECTION 17.     Further Assurances; Financial Statements....................

SECTION 18.     Successors and Assigns; Assignment..........................

SECTION 19.     Indemnification.............................................

SECTION 20.     Amendments..................................................

SECTION 21.     Interpretation..............................................

SECTION 22.     Intention of the Parties....................................

SECTION 23.     Reproduction of Documents...................................

SECTION 24.     Exhibits....................................................

SECTION 25.     PPTL........................................................

SECTION 26.     Compliance with Regulation AB...............................

<PAGE>

EXHIBITS

EXHIBIT A-1       Contents of Mortgage File

EXHIBIT A-2       Contents of Servicing File

EXHIBIT B         Form of Purchase Price and Terms Letter

EXHIBIT C         Form of Security Release Certification

EXHIBIT D         Form of Bill of Sale

EXHIBIT E         Form of Seller's Officer's Certificate

EXHIBIT F         Form of Memorandum of Sale

SCHEDULE ONE      Mortgage Loan Schedule One

SCHEDULE TWO      Mortgage Loan Schedule Two

SCHEDULE THREE    Mortgage Loan Schedule Three

<PAGE>

                        MORTGAGE LOAN PURCHASE AGREEMENT

      This Mortgage Loan Purchase Agreement (the "Agreement") is entered into as
of June 1, 2007 by and between WMC Mortgage Corp, a California corporation
having an office at 3100 Thornton Avenue, Burbank, California 91504 ("Seller")
and Bank of America, National Association, a national banking association having
an office at 214 North Tryon Street, Charlotte, North Carolina 28255
("Purchaser").

      Seller desires to sell to Purchaser, and Purchaser desires to purchase
from Seller on or about June 29, 2007 (the "Closing Date") and on terms and
conditions described below, certain residential fixed and adjustable rate first
lien mortgage loans (the "Mortgage Loans"). The Mortgage Loans shall be sold to
Purchaser on a servicing released basis.

      Seller and Purchaser, in consideration of the premises and the mutual
agreements set forth herein and other good and valuable consideration, agree as
follows:

      SECTION 1. Agreement to Purchase. Seller hereby agrees to sell, and
Purchaser hereby agrees to purchase, on the terms and conditions stated herein
and in the Purchase Price and Terms Letter executed by Purchaser and Seller in
the form attached hereto as Exhibit B (the "PPTL") certain Mortgage Loans having
an aggregate principal balance as of June 27, 2007 (such date, the "Cut-off
Date," and such principal balance, the "Cut-off Date Principal Balance") of
$2,070,853,965.23.

      SECTION 2. Mortgage Loan Schedules. Seller and Purchaser hereby agree that
the Mortgage Loans to be purchased under this Agreement on the Closing Date will
be described in three separate schedules (each, a "Mortgage Loan Schedule") to
be attached as Schedule One, Schedule Two and Schedule Three hereto.

      SECTION 3. Purchase Price; Payments.

      (a) On the Closing Date, the purchase price for the Mortgage Loans (the
"Purchase Price") shall be an aggregate amount equal to the sum of the amounts
specified in three separate Memoranda of Sale. Seller, simultaneously with the
payment of the Purchase Price, shall execute and deliver to Purchaser three
separate Bills of Sale (as hereinafter defined) with respect to the Mortgage
Loans listed on each Mortgage Loan Schedule in the form attached hereto as
Exhibit D and shall execute the Memoranda of Sale in the form attached hereto as
Exhibit F.

      (b) On the related Transfer Date (as defined in Section 8), Seller shall
remit to Purchaser to the account designated in writing by Purchaser with
respect to the related Mortgage Loans the positive escrow account balances
maintained for the mortgagors and any suspense funds and all other similar
amounts held by Seller. In addition, the Seller shall remit to the Purchaser
from the Seller's own funds, the amount of any negative escrow account balances.
Any payments required to be made by Seller pursuant to this Section 3(b) shall
be made by wire transfer of immediately available funds. The Purchaser shall
purchase the corporate and escrow advances for which Seller has provided the
documentation related to such advances as described in Sections 8(a) and (b)
herein and that are determined by Purchaser to be recoverable. Purchaser shall
reimburse Seller for such advances within thirty (30) days of receipt of the
documentation related to the advances.

      (c) Purchaser shall be entitled to all payments of principal and interest
and other recoveries on the Mortgage Loans received after the related Cut-off
Date, which shall be applied to the Purchase Price on the Closing Date.

      SECTION 4. Closing. The closing of the purchase and sale of the Mortgage
Loans identified on the Mortgage Loan Schedules accepted by Purchaser in
accordance with the procedures set forth herein shall take place on the Closing
Date. Seller shall provide Purchaser with the proposed Mortgage Loan Schedules
at least one (1) business day prior to the Closing Date, and Purchaser shall
have the right to accept or reject the Mortgage Loans on the proposed Mortgage
Loan Schedules.

      The obligation of Purchaser to purchase the Mortgage Loans on the Closing
Date as contemplated by this Agreement shall be subject to each of the following
conditions:

      (a) All of the representations and warranties under this Agreement and the
Purchase Price and Terms Letter shall be true and correct as of the Closing
Date, and no default or event which, with the giving of notice or the passage of
time or both, would constitute an event of default under this Agreement and the
Purchase Price and Terms Letter shall have occurred;

      (b) Purchaser shall have received executed copies of the closing documents
specified in Section 6 of this Agreement;

      (c) Seller shall have made available for Purchaser's inspection at least
five (5) business days prior to the Closing Date, at the office of Wells Fargo
Bank, N.A., the contents of the Mortgage File as described in Exhibit A-1 in
accordance with Section 8(c) of this Agreement. Wells Fargo Bank, N.A. currently
serves as custodian of the Mortgage Files on behalf of the Seller and shall
retain the Mortgage Files as custodian for the Purchaser under the Custody
Agreement, dated as of September 1, 2006 (the "Custody Agreement," between the
Purchaser and Wells Fargo Bank, N.A. The Servicing File as described in Exhibit
A-2 for the related Mortgage Loans shall remain with Litton Loan Servicing LP,
as servicer ("Litton"); and

      (d) All other terms and conditions of this Agreement and the related
Purchase Price and Terms Letter shall have been complied with.

      Subject to the foregoing conditions, Purchaser shall pay to Seller on the
Closing Date the Purchase Price as determined pursuant to Section 3 of this
Agreement, by wire transfer of immediately available funds to the account
designated in writing by Seller. Seller shall advise Purchaser in writing at
least one (1) business day prior to the Closing Date of the account to which
such funds are to be wired.

      In addition, in connection with the assignment of any MERS Loan (as
defined herein), Seller agrees that on or prior to the Closing Date it will
cause, at its own expense, the MERS System (as defined herein) to indicate that
the related Mortgage Loans have been assigned by Seller to Purchaser in
accordance with this Agreement by including in such computer files the
information required by the MERS System to identify Purchaser as owner of such
Mortgage Loans.

      SECTION 5. Representations, Warranties and Covenants of Seller.

      (a) Seller represents and warrants to, and covenants with, Purchaser that
as of each Closing Date:

       (i)        It is duly organized, validly existing and in good standing
                  under the laws of the jurisdiction of its organization and has
                  all licenses necessary to carry on its business as now being
                  conducted. It is licensed in, qualified to transact business
                  in and is in good standing under the laws of the state in
                  which any Mortgaged Property (as defined herein) is located
                  except where the failure to be so licensed and qualified would
                  not have a material adverse effect on its business or
                  operations. No licenses or approvals obtained by Seller have
                  been suspended or revoked by any court, administrative agency,
                  arbitrator or governmental body and no proceedings are pending
                  which might result in such suspension or revocation;

       (ii)       It has the full power and authority (corporate and other) to
                  hold each Mortgage Loan, to sell each Mortgage Loan and to
                  execute, deliver and perform, and to enter into and consummate
                  all transactions contemplated by this Agreement and the PPTL.
                  Seller has duly authorized the execution, delivery and
                  performance of this Agreement and the PPTL, has duly executed
                  and delivered this Agreement and the PPTL, and this Agreement
                  and the PPTL constitute legal, valid and binding obligations
                  of it, enforceable against it in accordance with their terms,
                  subject to bankruptcy laws and other similar laws of general
                  application affecting rights of creditors and subject to the
                  application of the rules of equity, including those respecting
                  the availability of specific performance;

       (iii)      None of the execution and delivery of this Agreement and the
                  PPTL or the other documents and agreements contemplated
                  hereby, the consummation of the transactions contemplated
                  hereby and thereby, or the fulfillment of or compliance with
                  the terms and conditions of this Agreement and the PPTL and
                  such other documents and agreements will result in the breach
                  of any term or provision of the charter or by-laws of Seller
                  or result in the breach of any material term or provision of,
                  or conflict with or constitute a default under or result in
                  the acceleration of any obligation under, any material
                  agreement, indenture or loan or credit agreement or other
                  instrument to which Seller or its property is subject, or
                  result in the violation of any law, rule, regulation, order,
                  judgment or decree to which Seller or its property is subject;

       (iv)       It does not believe that it cannot perform each and every
                  covenant contained in this Agreement and the PPTL;

       (v)        There are no actions, suits or proceedings pending or, to its
                  knowledge, threatened or likely to be asserted against or
                  affecting it, before or by any court, administrative agency,
                  arbitrator or governmental body with respect to any of the
                  transactions contemplated by this Agreement or the PPTL or any
                  other matter which may materially and adversely affect its
                  ability to perform its obligations under this Agreement or the
                  PPTL or which may materially and adversely affect its business
                  or prospects;

       (vi)       With respect to Seller, the consummation of the transactions
                  contemplated by this Agreement and the PPTL are in the
                  ordinary course of its business and the transfer, assignment
                  and conveyance of the Mortgage Loans are not subject to the
                  bulk transfer or any similar statutory provisions in effect in
                  any applicable jurisdiction;

       (vii)      The transfer of the Mortgage Loans shall be treated as a sale
                  on the books and records of Seller, and Seller has determined
                  that, and will treat, the disposition of the Mortgage Loans
                  pursuant to this Agreement for tax and accounting purposes as
                  a sale. Seller shall maintain a complete set of books and
                  records for each Mortgage Loan which shall be clearly marked
                  to reflect the ownership of each Mortgage Loan by Purchaser;

       (viii)     The consideration received by Seller upon the sale of the
                  Mortgage Loans constitutes fair consideration and reasonably
                  equivalent value for such Mortgage Loans;

       (ix)       Seller is solvent and will not be rendered insolvent by the
                  consummation of the transactions contemplated hereby. Seller
                  is not transferring any Mortgage Loan with any intent to
                  hinder, delay or defraud any of its creditors;

       (x)        Seller is a HUD approved mortgagee pursuant to Section 203 and
                  Section 211 of the National Housing Act. No event has
                  occurred, including but not limited to a change in insurance
                  coverage, which would make the Seller unable to comply with
                  HUD eligibility requirements or which would require
                  notification to HUD. For the purposes hereof, HUD means the
                  United States Department of Housing and Urban Development, or
                  any successor thereto; and

       (xi)       To the extent that any Mortgage Loans sold by Seller hereunder
                  are MERS Loans, Seller is in good standing, and will comply in
                  all material respects with the rules and procedures of
                  Mortgage Electronic Registration Systems, Inc., ("MERS"), a
                  corporation organized and existing under the laws of the State
                  of Delaware, or any successor thereto in connection with the
                  servicing of any Mortgage Loan registered with MERS (a "MERS
                  Loan") on the system of recording transfers of mortgages
                  electronically maintained by MERS (the "MERS System") for as
                  long as such Mortgage Loans are registered with MERS.

      (b) Seller represents and warrants to, and covenants with Purchaser and
Litton (in the case of Litton submitting breaches of representations and
warranties directly, other than with respect to any representations or
warranties, or portions thereof, relating to the servicing of the Mortgage Loans
or to information of which Litton reasonably should have been aware in its
capacity as servicer of the Mortgage Loans prior to the Closing Date, for which
Litton shall not have the benefit), with respect to each Mortgage Loan as of the
Closing Date (or such other date as set forth herein) for such Mortgage Loan:

       (i)        The information required in Schedule One, Schedule Two and
                  Schedule Three hereto and the Mortgage Loan data delivered to
                  Purchaser are complete, true and correct and the servicing
                  information provided to Purchaser with respect to the Mortgage
                  Loans as of the Transfer Date (as defined herein) is true and
                  correct in all material respects;

       (ii)       The mortgagor's real property securing repayment of the
                  related Mortgage Note (as defined herein), consists of a fee
                  simple interest or a Ground Lease (as defined herein) in a
                  single parcel of real property improved by a (A) detached
                  one-family dwelling, (B) detached two-to four family dwelling,
                  (C) one-family unit in a Fannie Mae ("FNMA") eligible
                  condominium project, (D) detached one-family dwelling in a
                  planned unit development which is not a co-operative and which
                  meets the eligibility requirements of FNMA, or (E) mobile home
                  or manufactured dwelling which constitutes real property (the
                  "Mortgaged Property") and is located in one of the fifty
                  states of the United States of America or the District of
                  Columbia. None of the Mortgage Loans is secured by a
                  multifamily, commercial, industrial, agricultural or
                  undeveloped property or by a condominium unit that is part of
                  a condominium development that operates as, or holds itself
                  out to be, a condominium hotel, regardless of whether the unit
                  itself is being used as a condotel unit;

       (iii)      There are no delinquent real estate taxes, ground rents, water
                  charges, sewer rents, Ground Lease rents, assessments,
                  insurance premiums, leasehold payments, including assessments
                  payable in future installments or other outstanding charges
                  affecting the Mortgaged Property;

       (iv)       The terms of the note or other evidence of indebtedness of the
                  mortgagor secured by the Mortgaged Property (in each case, the
                  "Mortgage Note") and the mortgage or other instrument creating
                  a first lien on the Mortgaged Property (in each case, a
                  "Mortgage") have not been impaired, waived, altered or
                  modified in any respect, except by written instruments,
                  recorded in the applicable public recording office if
                  necessary to maintain the lien priority of the Mortgage, the
                  substance of which waiver, alteration or modification is
                  reflected on the applicable Mortgage Loan Schedule and has
                  been approved by the primary mortgage guaranty insurer, if
                  any, and the title insurer, to the extent required by the
                  related policy; no instrument of waiver, alteration or
                  modification has been executed, and no mortgagor has been
                  released, in whole or in part, except in connection with an
                  assumption agreement approved by the primary mortgage guaranty
                  insurer, if any, and the title insurer, to the extent required
                  by the related policy and which assumption agreement is part
                  of the Mortgage File or the Servicing File and the terms of
                  which are reflected in the applicable Mortgage Loan Schedule;

       (v)        The servicing and collection practices with respect to each
                  Mortgage Note and Mortgage have been in all respects legal,
                  proper, prudent and customary in the mortgage servicing
                  business, as conducted by prudent mortgage lending
                  institutions which service mortgage loans of the same type in
                  the jurisdiction in which the Mortgaged Property is located
                  and in accordance with the terms of the Mortgage Note,
                  Mortgage and other loan documents, whether such servicing was
                  done by Seller, its affiliates or any servicing agent of any
                  of the foregoing; the servicer of the Mortgage Loan has not
                  assessed the mortgagor any delinquent payment fees that are
                  not specifically permitted in the Mortgage or Mortgage Note,
                  including but not limited to demand letter charges, or
                  assessed the mortgagor interest on any advances made by the
                  servicer;

       (vi)       The Mortgage Note, the Mortgage and other agreements executed
                  in connection therewith are genuine and each is the legal,
                  valid and binding obligation of the maker thereof, enforceable
                  in accordance with its terms except as such enforcement may be
                  limited by bankruptcy, insolvency, reorganization or other
                  similar laws affecting the enforcement of creditors' rights
                  generally and by general equity principles (regardless of
                  whether such enforcement is considered in a proceeding in
                  equity or at law) and free from any right of offset,
                  counterclaim, rescission, reformation or other claim or
                  defense, including the defense of usury. There is no basis for
                  the Mortgage Loan to be modified or reformed without the
                  consent of the mortgagee under applicable law. All parties to
                  the Mortgage Note and the Mortgage had the 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.
                  The obligor under the Mortgage Note is a natural person;

       (vii)      The Mortgage has not been satisfied, cancelled, 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, cancellation, subordination,
                  rescission or release;

       (viii)     The proceeds of the Mortgage Loan have been fully disbursed
                  and there is no requirement for future advances thereunder,
                  and any and all requirements as to completion of any
                  improvements and as to disbursements of any escrow funds
                  thereof have been complied with or any incomplete improvements
                  are immaterial in nature or are weather related and do not
                  significantly affect the value of the Mortgaged Property and
                  no repair escrow has been established with respect to such
                  incomplete improvements. All costs, fees and expenses incurred
                  in making or closing the Mortgage Loan and the recording of
                  the Mortgage have been paid, and the mortgagor is not entitled
                  to any refund of any amounts paid or due to the mortgagee
                  pursuant to the Mortgage Note or Mortgage;

       (ix)       Seller has not advanced funds, or induced, solicited or
                  knowingly received any advance of funds from a party other
                  than the owner of the related Mortgaged Property, directly or
                  indirectly, for the payment of any amount required by the
                  Mortgage Note or Mortgage;

       (x)        The related Mortgage is a valid and enforceable first lien on
                  the Mortgaged Property, which Mortgaged Property is free and
                  clear of all encumbrances and liens having priority over the
                  lien of the Mortgage except for (A) liens for real estate
                  taxes and special assessments not yet due and payable, (B)
                  covenants, conditions and restrictions, rights of way,
                  easements and other matters of public record as of the date of
                  recording of the Mortgage, such exceptions appearing of record
                  being acceptable to mortgage lending institutions generally or
                  specifically reflected in the appraisal made in connection
                  with the origination of the Mortgage Loan and (C) other
                  matters to which like properties are commonly subject which do
                  not, individually or in the aggregate, materially interfere
                  with the benefits of the security intended to be provided by
                  the Mortgage or the use, enjoyment, value or marketability of
                  the related Mortgaged Property. The Mortgage Note and the
                  Mortgage have not been assigned or pledged, other than to
                  lenders whose liens will be released prior to the Closing Date
                  or simultaneously with Purchaser's purchase hereunder, on the
                  Closing Date, pursuant to a duly executed Security Release in
                  the form of Exhibit C (the "Security Release Certification").
                  Any security agreement, chattel mortgage or equivalent
                  document related to and delivered in connection with the
                  Mortgage Loan establishes and creates a valid, existing and
                  enforceable first lien and first priority security interest on
                  the property described therein. As of the Closing Date, Seller
                  is the sole owner thereof and has full right to transfer and
                  sell the Mortgage Loans to Purchaser free and clear of any
                  lien or encumbrance equity, charge, claim or other security
                  interest;

       (xi)       If such Mortgage Loan is indicated on the applicable Mortgage
                  Loan Schedule as having primary mortgage insurance, such
                  Mortgage Loan is covered by a primary mortgage insurance
                  policy as to the principal amount of the Mortgage Loan in
                  excess of the portion required by FNMA of the Appraised Value
                  (as defined herein) of the Mortgaged Property at the time of
                  origination of the Mortgage. Such primary mortgage insurance
                  policy is in full force and effect and the related Mortgage
                  obligates the mortgagor to maintain such insurance and to pay
                  all premiums and charges in connection therewith. The mortgage
                  interest rate for the Mortgage Loan does not include any such
                  insurance premium. "Appraised Value" means 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
                  by an appraiser who met the minimum requirements of FNMA and
                  the Federal Home Loan Mortgage Corporation or any successor
                  thereto ("FHLMC"), 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 who met the minimum requirements of FNMA and FHLMC;

       (xii)      No intentional omission, misrepresentation, fraud or similar
                  occurrence with respect to a Mortgage Loan has taken place on
                  the part of the Seller or the mortgagor, any appraiser, any
                  builder or any developer, or any other party involved in the
                  solicitation or origination of the Mortgage Loan or in the
                  application of any insurance in relation to such Mortgage Loan
                  or in connection with the sale of such Mortgage Loan to the
                  Purchaser, and there are no circumstances existing with
                  respect to the Mortgage Loan which would permit the primary
                  mortgage guaranty insurer to deny coverage under any insurance
                  policy;

       (xiii)     The Mortgage Loan is covered by an American Land Title
                  Association lender's title insurance policy or other generally
                  acceptable form of policy of insurance acceptable to prudent
                  mortgage lending institutions, issued by a title insurer
                  acceptable to prudent mortgage lending institutions and
                  qualified to do business in the jurisdiction where the
                  Mortgaged Property is located (or by an attorney's abstract
                  and opinion of title if the Mortgaged Property is located in
                  Iowa), insuring the origination, its successors and assigns,
                  as to the first priority lien of the Mortgage, as indicated on
                  the applicable Mortgage Loan Schedule, in the original
                  principal amount of the 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 in the Mortgage interest rate and monthly payment.
                  Additionally, such lender's title insurance policy
                  affirmatively insures ingress and egress to and from the
                  Mortgaged Property, and against encroachments by or upon the
                  Mortgaged Property or any interest therein. The originator is
                  the sole insured of lender's title insurance policy, and
                  lender's title insurance policy is in full force and effect.
                  No claims have been made under the lender's title insurance
                  policy, and neither Seller nor any prior holder has done, by
                  act or omission, anything which would impair the coverage of
                  the lender's title insurance policy;

       (xiv)      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 Purchaser to the trustee under the deed of
                  trust, except in connection with a trustee's sale after
                  default by the mortgagor;

       (xv)       At the time of origination of the Mortgage Loan, no
                  improvement located on or being part of the Mortgaged Property
                  was in violation of any applicable zoning law or regulation
                  and no such improvement is currently in violation of any
                  applicable zoning law or regulation. No improvements on
                  adjoining properties encroach upon the Mortgaged Property. The
                  Mortgaged Property is lawfully occupied under applicable law;
                  all inspections, licenses and certificates required in
                  connection with the origination of any Mortgage Loan with
                  respect to the 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;

       (xvi)      The assignment of Mortgage is in recordable form, except for
                  the insertion of the name of the assignee, and is acceptable
                  for recording under the laws of the jurisdiction in which the
                  Mortgaged Property is located. The endorsement of the Mortgage
                  Note is valid, legal and enforceable under the laws of the
                  jurisdiction in which the Mortgaged Property is located;

       (xvii)     None of the Mortgage Loans are subject to a "buydown
                  agreement";

       (xviii)    The Mortgaged Property securing the Mortgage Loan is insured
                  by an insurer generally acceptable to prudent mortgage lending
                  institutions against loss by fire and such hazards, including
                  but not limited to damage by windstorm, 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; if the Mortgaged Property is a condominium unit, it
                  is included under the coverage afforded by a blanket policy
                  for the project; all such insurance policies contain a
                  standard mortgagee clause naming the Seller, its successors
                  and assigns as mortgagee and all premiums thereon have been
                  paid; if the Mortgaged Property is in an area identified on a
                  flood hazard map or flood insurance rate map issued by the
                  Federal Emergency Management Agency as having special flood
                  hazards (and such flood insurance has been made available) a
                  flood insurance policy meeting the requirements of the current
                  guidelines of the Federal Insurance Administration is in
                  effect which policy conforms to the requirements of FNMA and
                  FHLMC. All such insurance policies contain a standard
                  mortgagee clause naming Seller, its successors and assigns as
                  mortgagee and all premiums thereon have been paid. The
                  Mortgage obligates the mortgagor thereunder to maintain all
                  such insurance at the mortgagor's cost and expense, and on the
                  mortgagor's failure to do so, authorizes the holder of the
                  Mortgage to maintain such insurance at mortgagor's cost and
                  expense and to seek reimbursement therefor from the mortgagor;

       (xix)      If the Mortgage Loan provides that the interest rate on the
                  principal balance of the related Mortgage Loan may be
                  adjusted, all of the terms of the related Mortgage pertaining
                  to interest rate adjustments, payment adjustments and
                  adjustments of the outstanding principal balance have been
                  made in accordance with the terms of the related Mortgage Note
                  and applicable law and are enforceable and such adjustments
                  will not affect the priority of the Mortgage lien;

       (xx)       The Mortgaged Property complies with all applicable laws,
                  rules and regulations, including but not limited to those
                  relating to environmental matters, including but not limited
                  to those relating to radon, asbestos and lead paint and
                  neither the Seller nor, to the Seller's knowledge, the
                  mortgagor has received any notice of any violation or
                  potential violation of such law;

       (xxi)      The Mortgaged Property is free of damage and waste and there
                  is no proceeding pending or, to the best of Seller's
                  knowledge, threatened for the partial or total condemnation
                  thereof;

       (xxii)     Each agreement with a servicer of the Mortgage Loan, if any,
                  provides for the termination of the servicing rights relating
                  to the Mortgage Loan on the related Transfer Date, without the
                  payment of any termination fee or other expense by Purchaser;

       (xxiii)    To the extent required under applicable law, each originator
                  and subsequent mortgagee or servicer of the Mortgage Loan
                  complied with all licensing requirements and was authorized to
                  transact and do business in the jurisdiction in which the
                  related Mortgaged Property is located at all times when it
                  held or serviced the Mortgage Loan. Each Mortgage Loan and, if
                  any, the related prepayment penalty complied with any and all
                  applicable requirements of federal, state or local laws or
                  regulations, including, without limitation, usury,
                  truth-in-lending, real estate settlement procedures, consumer
                  credit protection, predatory lending, abusive lending, fair
                  lending, fair credit reporting, unfair collection practice,
                  equal credit opportunity, fair housing and disclosure laws and
                  regulations, applicable to the solicitation, origination,
                  collection and servicing of such Mortgage Loan; and any
                  obligations of the holder of the Mortgage Note, Mortgage and
                  other loan documents have been complied with in all material
                  respects and the consummation of the transaction contemplated
                  hereby will not involve the violation of any such laws or
                  regulations, and Seller shall maintain in its possession,
                  available for inspection of Purchaser or its designee, and
                  shall deliver to Purchaser or its designee, upon two business
                  days' request, evidence of compliance with such requirements;

       (xxiv)     The mortgagor has received all disclosure materials required
                  by applicable law with respect to the making of fixed rate
                  mortgage loans in the case of fixed rate Mortgage Loans, and
                  adjustable rate mortgage loans in the case of adjustable rate
                  Mortgage Loans and rescission materials with respect to
                  refinanced Mortgage Loans, and has executed any required
                  consents that it has reviewed such information, which consents
                  are and will remain in the Mortgage File;

       (xxv)      The related Mortgage Note or Mortgage contains customary and
                  enforceable provisions such as to render the rights and
                  remedies of the holder adequate for the realization against
                  the Mortgaged Property of the benefits of the security,
                  including realization by judicial, or, if applicable,
                  non-judicial foreclosure, and in the case of a Mortgage
                  designated as a deed of trust, by trustee's sale. There is no
                  homestead or other exemption or other right available to the
                  mortgagor or any other person, or restriction on Seller or any
                  other person, including without limitation, any federal, state
                  or local, law, ordinance, decree, regulation, guidance,
                  attorney general action, or other pronouncement, whether
                  temporary or permanent in nature, that would interfere with,
                  restrict or delay, either (y) the ability of Seller, Purchaser
                  or any servicer or any successor servicer to sell the related
                  Mortgaged Property at a trustee's sale or otherwise, or (z)
                  the ability of Seller, Purchaser or any servicer or any
                  successor servicer to foreclose on the related Mortgage;

       (xxvi)     There is no action, suit or proceeding pending, or to the
                  Seller's knowledge, threatened or likely to be asserted with
                  respect to the Mortgage Loan against or affecting Seller
                  before or by any court, administrative agency, arbitrator or
                  governmental body;

       (xxvii)    There is no default, breach, violation or event of
                  acceleration existing under the related Mortgage Note or
                  Mortgage, 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 the Seller has not waived any default,
                  breach, violation or event of acceleration;

       (xxviii)   No action, inaction, or event has occurred and no state of
                  fact exists or has existed that has resulted or will result in
                  the exclusion from, denial of, or defense to coverage under
                  any applicable hazard insurance policy, PMI Policy or
                  bankruptcy bond, irrespective of the cause of such failure of
                  coverage. In connection with the placement of any such
                  insurance, no commission, fee, or other compensation has been
                  or will be received by Seller or any designee of Seller or any
                  corporation in which Seller or any officer, director, or
                  employee had a financial interest at the time of placement of
                  such insurance;

       (xxix)     No Mortgage Loan is subject to the provisions of the
                  Homeownership and Equity Protection Act of 1994 ("HOEPA") as
                  amended or has an "annual percentage rate" or "total points
                  and fees" payable by the mortgagor (as each such term is
                  defined under HOEPA) that equal or exceed the applicable
                  thresholds defined under HOEPA (Section 32 of Regulation Z, 12
                  C.F.R. Section 226.32(a)(1)(i) and (ii)) or is considered a
                  "high cost," "predatory" or "abusive" loan (or a similarly
                  designated loan using different terminology) under any
                  applicable state, county or municipal laws or ordinances,
                  including without limitation, the provisions of the Georgia
                  Fair Lending Act, New York Banking Law, Section 6-1, the New
                  Jersey Home Ownership Security Act of 2002 (the "NJ Act") or
                  any other statute or regulation providing "assignee" or
                  "originator" liability to holders of such mortgage loans;

       (xxx)      Each Mortgage Loan was originated by Seller or by a savings
                  and loan association, a savings bank, a commercial bank or
                  similar banking institution which is supervised and examined
                  by a federal or state authority, or by a mortgagee approved as
                  such by HUD;

       (xxxi)     Each Mortgage Loan has a fully assignable life of loan tax
                  service contract with Transamerica Real Estate Tax Service or
                  First American Real Estate Tax Service which may be assigned
                  without the payment of any fee by Purchaser;

       (xxxii)    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 law could give rise to such lien)
                  affecting the related Mortgaged Property which are or may be
                  liens prior to, or equal or coordinate with, the lien of the
                  related Mortgage;

       (xxxiii)   Principal payments (or with respect to interest-only
                  Mortgage Loans, interest payments) on the Mortgage Loan
                  commenced no more than sixty days after the proceeds of the
                  Mortgage Loan were disbursed. With respect to each Mortgage
                  Loan, the Mortgage Note is payable each month on the day
                  identified on the applicable Mortgage Loan Schedule in monthly
                  payments, which, except with respect to any Mortgage Loan
                  which is identified on the applicable Mortgage Loan Schedule
                  as a balloon mortgage loan (each, a "Balloon Mortgage Loan"),
                  in the case of a fixed rate Mortgage Loan, are sufficient to
                  fully amortize the original principal balance over the
                  original term thereof and to pay interest at the related
                  Mortgage interest rate, and in the case of an adjustable rate
                  Mortgage Loan, are changed on each adjustment date, and in any
                  case, are sufficient to fully amortize the original principal
                  balance over the original term thereof and to pay interest at
                  the related Mortgage interest rate. In the case of a Balloon
                  Mortgage Loan, the Mortgage Note is payable in monthly
                  payments based on a maximum of fifty (50) year amortization
                  schedule and a final monthly payment substantially greater
                  than the preceding monthly payment which is sufficient to
                  amortize the remaining principal balance of the Balloon
                  Mortgage Loan. No Balloon Mortgage Loan has an original stated
                  maturity of less than seven (7) years. No adjustable rate
                  Mortgage Loan is convertible to a fixed rate Mortgage Loan.
                  The Mortgage Note does not permit negative amortization;

       (xxxiv)    The mortgagor has not notified Seller and Seller has no
                  knowledge of any relief requested or allowed to the mortgagor
                  under the Servicemembers Civil Relief Act or similar state
                  laws;

       (xxxv)     The Mortgage Loan was underwritten in accordance with the
                  underwriting standards of Seller in effect at the time the
                  Mortgage Loan was originated; and the Mortgage Note and
                  Mortgage are on forms acceptable to FNMA and FHLMC;

       (xxxvi)    The Mortgage Note is not and has not been secured by any
                  collateral except the lien of the corresponding Mortgage on
                  the Mortgaged Property and the security interest of any
                  applicable security agreement or chattel mortgage referred to
                  in (x) above;

       (xxxvii)   The Mortgage File contains an appraisal of the related
                  Mortgaged Property which satisfied the standards of FNMA and
                  FHLMC and was made and signed, prior to the approval of the
                  Mortgage Loan application, by a qualified appraiser, duly
                  appointed by Seller, who had no interest, direct or indirect,
                  in the Mortgaged Property or in any loan made on the security
                  thereof, whose compensation is not affected by the approval or
                  disapproval of the Mortgage Loan and who met the minimum
                  qualifications of FNMA and FHLMC. Each appraisal of the
                  Mortgage Loan was made in accordance with the relevant
                  provisions of the Financial Institutions Reform, Recovery, and
                  Enforcement Act of 1989;

       (xxxviii)  No Mortgage Loan was made in connection with (A) the
                  construction or rehabilitation of a Mortgaged Property or (B)
                  facilitating the trade-in or exchange of a Mortgaged Property;

       (xxxix)    With respect to escrow deposits and escrow payments, if any,
                  all such payments are in the possession of, or under the
                  control of, Seller and there exist no deficiencies in
                  connection therewith for which customary arrangements for
                  repayment thereof have not been made. No escrow deposits or
                  escrow payments or other charges or payments due Seller have
                  been capitalized under any Mortgage or the related Mortgage
                  Note and no such escrow deposits or escrow payments are being
                  held by Seller for any work on a Mortgaged Property which has
                  not been completed;

       (xl)       Any principal advances made to the mortgagor prior to the
                  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. The lien of the Mortgage
                  securing the consolidated principal amount is expressly
                  insured as having first lien priority by a title insurance
                  policy, an endorsement to the policy insuring the mortgagee's
                  consolidated interest or by other title evidence acceptable to
                  FNMA and FHLMC. The consolidated principal amount does not
                  exceed the original principal amount of the Mortgage Loan;

       (xli)      Seller has no knowledge of any circumstances or condition with
                  respect to the Mortgage, the Mortgaged Property, the mortgagor
                  or the mortgagor's credit standing that can reasonably be
                  expected to cause the Mortgage Loan to become delinquent, or
                  materially and adversely affect the value of the Mortgage
                  Loan;

       (xlii)     No Mortgage Loan had a Loan-to-Value Ratio (as defined
                  herein) at origination in excess of 100%. Loan-to-Value Ratio
                  means with respect to any Mortgage Loan as of any date of
                  determination, the ratio on such date of the outstanding
                  principal amount of the Mortgage Loan to the Appraised Value
                  of the Mortgaged Property;

       (xliii)    No predatory or deceptive lending practices, including but
                  not limited to, the extension of credit to the mortgagor
                  without regard for the mortgagor's ability to repay the
                  Mortgage Loan and the extension of credit to the mortgagor
                  which has no apparent benefit to the mortgagor, were employed
                  by the originator of the Mortgage Loan in connection with the
                  origination of the Mortgage Loan. With respect to each
                  Mortgage Loan, (a) no mortgagor was required to purchase any
                  single premium credit life insurance policy (e.g., life,
                  mortgage, disability, accident, unemployment or health
                  insurance product) or debt cancellation agreement as a
                  condition of obtaining the extension of credit; (b) no
                  mortgagor obtained a prepaid single premium credit insurance
                  policy (e.g., life, mortgage, disability, accident,
                  unemployment, property or health insurance product) or debt
                  cancellation agreement in connection with the origination of
                  the Mortgage Loan; and (c) no proceeds from any Mortgage Loan
                  were used to purchase single premium credit insurance policies
                  (e.g., life, mortgage, disability, accident, unemployment or
                  health insurance product) or debt cancellation agreements as
                  part of the origination of, or as a condition to closing, such
                  Mortgage Loan;

       (xliv)     The Mortgage contains an enforceable provision 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;

       (xlv)      The Mortgage Loan complies with all applicable consumer credit
                  statutes and regulations, including, without limitation, the
                  respective Uniform Consumer Credit Code laws in effect in
                  Colorado, Idaho, Indiana, Iowa, Kansas, Maine, Oklahoma, South
                  Carolina, Utah and Wyoming, has been originated by a properly
                  licensed entity, and in all other respects, complies with all
                  of the material requirements of any such applicable laws;

       (xlvi)     None of the Mortgage Loans is a refinancing of a zero
                  interest rate or low interest loan made by a governmental
                  agency or non-profit organization;

       (xlvii)    With respect to each Mortgage Loan that is a simple interest
                  Mortgage Loan, the Mortgage Loan is identified on the
                  applicable Mortgage Loan Schedule as a simple interest
                  Mortgage Loan, the Mortgage Loan is required to be serviced as
                  a simple interest mortgage loan pursuant to the terms of the
                  related Mortgage Note, and the servicing and collection
                  practices used in connection therewith have been in accordance
                  with legal, proper, prudent and customary practices for
                  servicing simple interest mortgage loans;

       (xlviii)   With respect to each Mortgage Loan that is 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 by a fee interest in such Mortgaged Property:

                  a. The mortgagor is the owner of a valid and subsisting
                  interest as tenant under the Ground Lease;

                  b. The Ground Lease is in full force and effect, unmodified
                  and not supplemented by any writing or otherwise;

                  c. The mortgagor is not in default under any of the terms
                  thereof and there are no circumstances which, with the giving
                  of notice, would constitute an event of default thereunder;

                  d. 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;

                  e. The term of the Ground Lease exceeds the maturity date of
                  the related Mortgage Loan by at least ten years;

                  f. The Ground Lease or a memorandum thereof has been recorded
                  and by its terms permits the leasehold estate to be mortgaged.
                  The Ground Lease grants any leasehold mortgagee standard
                  protection necessary to protect the security of a leasehold
                  mortgagee;

                  g. The Ground Lease does not contain any default provisions
                  that could give rise to forfeiture or termination of the
                  Ground Lease except for the non-payment of the Ground Lease
                  rents;

                  h. The execution, delivery and performance of the Mortgage do
                  not require the 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; and

                  i. 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.

       (xlix)     No Mortgage Loan originated on or after October 1, 2002 and
                  prior to March 7, 2003 is subject to the Georgia Fair Lending
                  Act (OGCA Sections 7-6A-1, et. seq.), as such Act may be
                  amended from time to time;

       (l)        The Mortgaged Property was not, as of the date of origination
                  of the Mortgage Loan, subject to a mortgage, deed of trust,
                  deed to secure debt or other security instrument creating a
                  lien subordinate to the lien of the Mortgage;

       (li)       All payments required to be made in June 2007 for each
                  Mortgage Loan under the terms of the related Mortgage Note
                  have been paid in full during June 2007;

       (lii)      The Mortgage Loan documents with respect to each Mortgage Loan
                  subject to prepayment penalties (i) specifically authorizes
                  such prepayment penalties to be collected and such prepayment
                  penalties are permissible and enforceable and were originated
                  in accordance with the terms of the related Mortgage Loan
                  documents and all applicable state, federal and local law
                  (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) and (ii)
                  include all necessary documentation to determine the amount of
                  the prepayment penalty to be collected;

       (liii)     The Mortgage File has been delivered to Purchaser or its
                  designee in accordance with the terms of this Agreement;

       (liv)      The originator has complied with all applicable anti-money
                  laundering laws and regulations, including without limitation
                  the USA PATRIOT Act of 2001 (collectively, the "Anti-Money
                  Laundering Laws"); the Originator has established an
                  anti-money laundering compliance program as required by the
                  Anti-Money Laundering Laws, has conducted the requisite due
                  diligence in connection with the origination of each Mortgage
                  Loan for purposes of the Anti-Money Laundering Laws, including
                  with respect to the legitimacy of the applicable mortgagor and
                  the origin of the assets used by the said mortgagor to
                  purchase the property in question, and maintains, and will
                  maintain, sufficient information to identify the applicable
                  mortgagor for purposes of the Anti-Money Laundering Laws; no
                  Mortgage Loan is subject to nullification pursuant to
                  Executive Order 13224 (the "Executive Order") or the
                  regulations promulgated by the Office of Foreign Assets
                  Control of the United States Department of the Treasury (the
                  "OFAC Regulations") or in violation of the Executive Order or
                  the OFAC Regulations, and no mortgagor is subject to the
                  provisions of such Executive Order or the OFAC Regulations nor
                  listed as a "blocked person" for purposes of the OFAC
                  Regulations;

       (lv)       No Mortgage Loan is a "manufactured housing loan" pursuant to
                  the NJ Act;

       (lvi)      No points, fees or similar charges are required to be
                  reimbursed to a mortgagor upon a prepayment in full of the
                  related Mortgage Loan;

       (lvii)     No Mortgage Loan that was originated on or after August 1,
                  2004 is subject to mandatory arbitration to resolve any
                  dispute arising out of or relating to in any way the Mortgage
                  Loan transaction;

       (lviii)    With respect to any Mortgage Loan that contains a provision
                  permitting imposition of a penalty upon a prepayment prior to
                  maturity: (a) the Mortgage Loan provides some benefit to the
                  mortgagor (e.g., a rate or fee reduction) in exchange for
                  accepting such prepayment penalty; (b) the Mortgage Loan's
                  originator had a written policy of offering the mortgagor, or
                  requiring third-party brokers to offer the mortgagor, the
                  option of obtaining a mortgage loan that did not require
                  payment of such a penalty; (c) the prepayment penalty was
                  adequately disclosed to the mortgagor in the Mortgage Loan
                  documents pursuant to applicable state and federal law; and
                  (d) no Mortgage Loan originated on or after October 1, 2002
                  will provide for prepayment penalties for a term in excess of
                  three years and any Mortgage Loans originated prior to such
                  date will not impose prepayment penalties in excess of five
                  years; in each case unless the Mortgage Loan was modified to
                  reduce the prepayment period to no more than three years from
                  the date of the Mortgage Note and the mortgagor was notified
                  in writing of such reduction in prepayment period;

       (lix)      The Seller has fully furnished, in accordance with the Fair
                  Credit Reporting Act and its implementing regulations,
                  accurate and complete information (i.e., favorable and
                  unfavorable) on its mortgagor credit files to Equifax,
                  Experian, and Trans Union Credit Information Company (three of
                  the credit repositories), on a monthly basis with respect to
                  each Mortgage Loan;

       (lx)       With respect to the Mortgage Loans, no mortgagor was
                  encouraged or required to select a mortgage loan product
                  offered by the Mortgage Loan's originator which is a higher
                  cost product designed for less creditworthy mortgagors, unless
                  at the time of the Mortgage Loan's origination, such mortgagor
                  did not qualify taking into account credit history and debt to
                  income ratios for a lower cost credit product then offered by
                  the Mortgage Loan's originator or any affiliate of the
                  Mortgage Loan's originator. If, at the time of loan
                  application, the mortgagor may have qualified for a lower cost
                  credit product then offered by any mortgage lending affiliate
                  of the Mortgage Loan's originator, the Mortgage Loan's
                  originator referred the mortgagor's application to such
                  affiliate for underwriting consideration;

       (lxi)      The methodology used in underwriting the extension of credit
                  for each Mortgage Loan employs objective mathematical
                  principles which relate the mortgagor's income, assets and
                  liabilities to the proposed payment and such underwriting
                  methodology does not rely solely on the extent of the
                  mortgagor's equity in the collateral as the principal
                  determining factor in approving such credit extension. The
                  methodology employed related objective criteria such as the
                  mortgagor's income, assets and liabilities, to the proposed
                  mortgage payment and, based on such methodology, the Mortgage
                  Loan's originator made a reasonable determination that at the
                  time of origination the mortgagor had the ability to make
                  timely payments on the Mortgage Loan;

       (lxii)     Except as otherwise disclosed to Purchaser in writing, no
                  mortgagor under a Mortgage Loan was charged "points and fees"
                  (whether or not financed) in an amount greater than (a) $1,000
                  or (b) 5% of the principal amount of such Mortgage Loan,
                  whichever is greater. For purposes of this representation,
                  "points and fees" (x) include origination, underwriting,
                  broker and finder's fees and charges that the lender imposed
                  as a condition of making the Mortgage Loan, whether they are
                  paid to the lender or a third party; and (y) exclude bona fide
                  discount points, fees paid for actual services rendered in
                  connection with the origination of the Mortgage (such as
                  attorneys' fees, notaries fees and fees paid for property
                  appraisals, credit reports, surveys, title examinations and
                  extracts, flood and tax certifications, and home inspections);
                  the cost of mortgage insurance or credit-risk price
                  adjustments; the costs of title, hazard, and flood insurance
                  policies; state and local transfer taxes or fees; escrow
                  deposits for the future payment of taxes and insurance
                  premiums; and other miscellaneous fees and charges which
                  miscellaneous fees and charges, in total, do not exceed 0.25
                  percent of the loan amount;

       (lxiii)    All points, fees and charges (including finance charges),
                  whether or not financed, assessed, collected or to be
                  collected in connection with the origination and servicing of
                  each Mortgage Loan, have been disclosed in writing to the
                  mortgagor in accordance with applicable state and federal law
                  and regulation;

       (lxiv)     With respect to any Mortgage Loans that are on manufactured
                  housing, upon the origination of each such Mortgage Loan the
                  manufactured housing unit either (i) will be the principal
                  residence of the mortgagor, or (ii) will be classified as real
                  property under applicable state law;

       (lxv)      [Reserved];

       (lxvi)     At the time of origination, each Mortgage Loan was in
                  compliance with the anti predatory lending eligibility for
                  purchase requirements of FNMA's selling guide;

       (lxvii)    No Mortgage Loan is a high cost loan or a covered loan, as
                  applicable (as such terms are defined in Standard & Poor's
                  LEVELS(R) Version 5.7 Glossary Revised, Appendix E);

       (lxviii)   With respect to each Mortgage Loan, the mortgagor was not
                  encouraged or required to select a mortgage loan product
                  offered by the Mortgage Loan's originator which is a higher
                  cost product designed for less creditworthy mortgagors, taking
                  into account such facts as, without limitation, the mortgage
                  loan's requirements and the mortgagor's credit history,
                  income, assets and liabilities. For a mortgagor who sought
                  financing through a Mortgage Loan originator's higher-priced
                  subprime lending channel, the mortgagor was directed towards
                  or offered the Mortgage Loan originator's standard mortgage
                  line if the mortgagor is able to qualify for one of the
                  standard products;

       (lxix)     No Mortgage Loan secured by a Mortgaged Property in the State
                  of Ohio which closed on or after January 1, 2007 was
                  originated pursuant to a no income/no asset documentation
                  program or any other program pursuant to which the related
                  mortgagor was not required to disclose income. Each Mortgage
                  Loan secured by a Mortgaged Property in the State of Ohio
                  which closed on or after January 1, 2007, was originated in
                  compliance with the Ohio Consumer Sales Practices Act (Oh.
                  Rev. Stat. 1345.01 et seq.) and the regulations promulgated
                  thereunder and was made only after reasonable and appropriate
                  methods were used to determine the mortgagor's repayment
                  ability, including without limitation, employment verification
                  for stated income loans, which have been properly documented
                  and verified;

       (lxx)      [Reserved];

       (lxxi)     Each Mortgage Loan secured by a Mortgaged Property located
                  within the "Pilot Program Area" in Cook County in the State of
                  Illinois was originated in compliance with Illinois Public Act
                  94-280 (Illinois H.B. 4050), known as the Predatory Lending
                  Database Pilot Program Act (765 ILCS 77/70)). The term "Pilot
                  Program Area" refers to the following zip codes: 60620, 60621,
                  60623, 60628, 60629, 60632, 60636, 60638, 60643, and 60652.
                  Every such Mortgage Loan, regardless of the originator,
                  recorded on or after September 1, 2006, and closed on or
                  before January 19, 2007, was validly recorded with the Cook
                  County Recorder of Deeds along with either a Certificate of
                  Compliance or Exempt Certificate issued by the Illinois
                  Department of Financial and Professional Regulation as a cover
                  sheet. No material changes were made to any such Mortgage Loan
                  from the time that the loan file was submitted to the Illinois
                  Department of Financial and Professional Regulation for a
                  Certificate of Compliance or Exempt Certificate until the date
                  of settlement.

      (c) It is understood and agreed that the representations and warranties
set forth in this Section 5 shall survive the sale and delivery of the Mortgage
Loans to Purchaser and shall inure to the benefit of Purchaser and Litton,
notwithstanding any restrictive or qualified endorsement on any Mortgage Note or
assignment of Mortgage or any examination or failure to examine any Mortgage
File; subject, however, to the qualification with respect to Litton in (b)
above.

      (d) For the purposes of this Agreement, (i) the term "to Seller's
knowledge," or "to its knowledge" means that Seller reasonably believes such
representation or warranty to be true, and has no actual knowledge or notice
that such representation or warranty is inaccurate or incomplete, or of any
facts or circumstances that would render reliance thereon unjustified without
further inquiry; and (ii) "to the best of Seller's knowledge," means that to
Seller's knowledge, the representation or warranty is not incomplete or
inaccurate, and Seller has conducted a reasonable inquiry to assure the accuracy
and completeness of the applicable statement.

      (e) Upon discovery by any of Seller, Purchaser or Litton of a breach of
any of the foregoing representations and warranties as set forth in this Section
5 which materially and adversely affects the value of the Mortgage Loans or the
interest of Purchaser (or which adversely affects the interests of Purchaser in
the Mortgage Loan in the case of a representation or warranty relating to a
particular Mortgage Loan), the party discovering such breach shall give prompt
written notice to the other. Within sixty (60) days of its discovery or its
receipt of written or electronic notice of any such breach of a representation
or warranty, Seller shall cure such breach in all material respects or, at the
option of Purchaser, shall repurchase the ownership interest in such Mortgage
Loan at a repurchase price (the "Repurchase Price") equal to the outstanding
principal balance of such Mortgage Loan multiplied by the purchase price
percentage set forth in the Memorandum of Sale, less any principal payments
received by Purchaser, plus Purchaser's and Litton's reasonable and customary
out-of-pocket expenses incurred by Purchaser and Litton in transferring and
servicing such Mortgage Loan, including, without limitation, expenses incurred
for maintenance and repairs, assessments, taxes and similar items, to the extent
not paid out of an escrow account transferred by Seller to Purchaser, and
attorney's fees and expenses incurred by Purchaser and Litton in connection with
any enforcement procedures or otherwise with respect to such Mortgage Loan or
the transfer of such Mortgage Loan to Seller or Purchaser and an additional
amount equal to the rate of interest borne by the Mortgage Loan multiplied by
the outstanding principal balance of such Mortgage Loan from the date interest
was paid through on such Mortgage Loan to the date such Mortgage Loan is
repurchased. Purchaser shall release its interest in the Mortgage Loan promptly
upon its receipt of the Repurchase Price and shall immediately effect the
reconveyance of such Mortgage Loan to Seller. Notwithstanding anything to the
contrary contained herein, it is understood by the parties hereto that a breach
of the representations and warranties made in Sections 5(b)(ii), (xxiii),
(xxix), (xliii), (xlix), (lvii), (lviii), (lix), (lx), (lxi), (lxii), (lxiii),
(lxiv) or (lxviii), will be deemed to materially and adversely affect the value
of the related Mortgage Loan or the interest of Purchaser therein.

      (f) To the extent the Seller fails to repurchase any Mortgage Loan listed
on Schedule One or Schedule Two pursuant to Section 5(e) above, General Electric
Capital Corporation agrees with the Purchaser, in consideration of and as an
inducement to its agreement to enter into the transactions contemplated herein,
to guarantee the payment of (x) the Repurchase Price pursuant to Section 5(e)
hereof or, at the Purchaser's option, (y) the difference between the original
purchase price for such Mortgage Loan and a new, re-priced purchase price agreed
upon by the parties for such Mortgage Loan; provided, however, General Electric
Capital Corporation shall only (i) guarantee the payment pursuant to clauses (x)
and (y) hereof up to a maximum of $25,000,000 and (ii) be obligated to guarantee
such payment to the extent Seller discovers or receives written or electronic
notice of a breach of a representation or warranty set forth in this Section 5
by the close of business on July 10, 2009.

      SECTION 6. Closing Documents. (a) The closing documents to be delivered on
or prior to the Closing Date (the "Closing Documents") shall consist of each of
the following:

             (i)  four (4) fully executed original copies of this Agreement,
                  including all exhibits hereto;

            (ii)  one (1) fully executed original of the document exception
                  report issued pursuant to the Custody Agreement;

           (iii)  one (1) fully executed original of an officer's certificate in
                  the form attached hereto as Exhibit E, including all
                  attachments thereto;

            (iv)  an original or a certified copy of a certificate or other
                  evidence of merger or change of name, signed or stamped by the
                  applicable regulatory authority, if any of the related
                  Mortgage Loans were acquired by Seller by merger or acquired
                  or originated by Seller while conducting business under a name
                  other than its present name, which shall be delivered by the
                  Closing Date;

             (v)  four (4) fully executed original copies of the related PPTL,
                  including all exhibits thereto, in the form attached hereto as
                  Exhibit B;

            (vi)  those documents set forth on Exhibit A-1 hereto for the
                  related Mortgage Loans;

           (vii)  security releases from any warehouse lender with a lien on the
                  related Mortgage Loans in the form attached hereto as Exhibit
                  C;

          (viii)  a Bill of Sale for the Mortgage Loans in the form attached
                  hereto as Exhibit D;

            (ix)  the Memorandum of Sale in the form attached hereto as Exhibit
                  F;

             (x)  a computer readable transmission of the payment history for
                  each Mortgage Loan for the past twelve months; and

            (xi)  such other documents as may be specified in the PPTL.

      (b) The documents specified in Subsection 6(a)(vi) hereof for each
Mortgage Loan shall be delivered by Seller to Purchaser or its designee at least
five (5) business days prior to the related Closing Date.

      SECTION 7. Costs. 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 Agreement and the PPTL.
If Purchaser requests the contents of the Mortgage File which have not been
previously delivered hereunder, the original contents of such Mortgage File will
be delivered by Seller. Seller will pay all costs and expenses incurred in
connection with the preceding sentence. Seller shall be responsible for, and
shall bear all reasonable and out-of-pocket fees and expenses related to, the
recordation of assignments of Mortgage from Seller to Purchaser with respect to
the Mortgage Loans. Seller shall be responsible for and shall bear all
reasonable and out-of-pocket fees and expenses related to the recordation of any
intervening assignments of Mortgage with respect to the Mortgage Loans.

      With respect to foreclosure costs and expenses for any Mortgage Loan,
including attorneys' fees, Seller shall be responsible for all expenses for
services rendered prior to the related Closing Date. With respect to foreclosure
costs and expenses for any Mortgage Loan, including attorney's fees, Purchaser
shall be responsible for all expenses for services rendered on or after the
related Closing Date; provided, however, except as otherwise required by
applicable law, that Purchaser's prior consent shall be required with respect to
the institution of any such foreclosure proceeding or proceedings to modify any
Mortgage Loans. Seller and Purchaser hereby agree that Purchaser may continue
any proceeding in Seller's name with respect to any Mortgage Loan if necessary
to prevent a material adverse effect on Purchaser's interests with respect
thereto or a delay in such proceeding.

      SECTION 8. Servicing. The Mortgage Loans are being sold on a servicing
released basis. The Mortgage Loans are currently being interim serviced by
Litton. Notwithstanding any provision in the Agreement to the contrary, upon the
purchase of the Mortgage Loans by the Purchaser, the Mortgage Loans shall be
serviced by Litton pursuant to a servicing agreement between the Purchaser and
Litton. For purposes of the Agreement, the servicing transfer date (the
"Transfer Date") shall be deemed to be the Closing Date.

      During the period between the Cut-off Date and the Transfer Date, Seller
shall service the related Mortgage Loans for the benefit of Purchaser in
accordance with the terms of the related Mortgage and Mortgage Note and shall
service the related Mortgage Loans in order to protect Purchaser's interest in
such Mortgage Loans to the extent that a reasonably prudent servicer would for
mortgage loans of the same type in the applicable jurisdiction and in compliance
with all applicable laws, rules and regulations and the loan documents. No later
than the Transfer Date, Seller shall, at its cost and expense, take such steps
as may be necessary or appropriate to effectuate and evidence the transfer of
the servicing of the related Mortgage Loans to Purchaser, or its designee,
including but not limited to the following:

      (a) Escrow Payments. On the Transfer Date provide Purchaser with an
accounting statement of the escrow and other payments, for taxes, governmental
assessments, insurance premiums, security deposits, water, sewer and municipal
charges, and suspense balances and loss draft balances sufficient to enable
Purchaser to reconcile the amount of such payment with the accounts of the
related Mortgage Loans.

      (b) Corporate Advances. On the Transfer Date, provide Purchaser, or its
designee, with copies of all receipts, invoices and bills pertaining to
foreclosure expenses, attorney's fees, bankruptcy fees and other corporate
advances along with a loan level report providing detail on each expense paid by
Seller. In addition, Seller shall forward on a weekly basis all receipts,
invoices and bills pertaining to foreclosure expenses, attorney's fees,
bankruptcy fees and other corporate advances, received by Seller after the
Transfer Date. Purchaser and Seller acknowledge that the amount of the escrow
and corporate advances (as described in Sections 8(a) and 8(b)) may vary from
the amount shown on the Mortgage Loan Schedules to reflect activity occurring
after the Closing Date.

      (c) Payoffs and Assumptions. On or prior to the Transfer Date, provide to
Purchaser, or its designee, copies of all assumption and payoff statements
generated with respect to the Mortgage Loans from the period beginning sixty
(60) days prior to the Transfer Date until the Transfer Date.

      (d) Payments Received Prior to the Transfer Date. Prior to the Transfer
Date all payments received by Seller on each Mortgage Loan shall be properly
applied by Seller to the account of the particular mortgagor. Any unapplied
funds and suspense payments shall be wire transferred to Purchaser on the
Transfer Date and shall be applied by Purchaser as deemed appropriate in
Purchaser's sole discretion.

      (e) Payments Received After the Transfer Date. The amount of any payments
received by Seller after the Transfer Date with respect to the related Mortgage
Loans shall (i) in the case of payments received within thirty days of the
Transfer Date, be forwarded to Purchaser by overnight mail or courier within one
business day of receipt and (ii) in the case of payments received thereafter, be
forwarded to Purchaser on a weekly basis. Notwithstanding the foregoing, any
payment received by Seller for the purposes of a full payoff and received within
ninety days of the Transfer Date shall be forwarded to Purchaser by courier or
overnight mail within one business day of receipt. Seller shall notify Purchaser
of the particulars of such payment, which notification requirements shall be
satisfied if Seller forwards with the payment sufficient information to permit
appropriate processing of the payment by Purchaser and shall provide necessary
and appropriate legal application of such payments which shall include, but not
be limited to, endorsement of such payment to Purchaser or equivalent substitute
payment with the particulars of the payment such as the account number, dollar
amount, date received and any special mortgagor application instructions.

      (f) Misapplied Payments. Misapplied payments shall be processed as
follows:

       (i)        All parties shall cooperate in correcting misapplication
                  errors;

       (ii)       The party receiving notice of a misapplied payment occurring
                  prior to the Transfer Date shall immediately notify the other
                  party;

       (iii)      If a misapplied payment which occurred prior to the Transfer
                  Date cannot be identified and said misapplied payment has
                  resulted in a shortage in any accounts established for the
                  purpose of depositing payments with respect to the Mortgage
                  Loans, Seller shall be liable for the amount of such shortage.
                  Seller shall reimburse Purchaser for the amount of such
                  shortage within thirty (30) days after receipt of written
                  demand therefor from Purchaser;

       (iv)       If a misapplied payment which occurred prior to the Transfer
                  Date has created an incorrect Purchase Price as the result of
                  an inaccurate outstanding principal balance, a check shall be
                  issued to the party disadvantaged by the incorrect payment
                  application within five (5) business days after notice
                  therefor by the other party; and

       (v)        Any check issued under the provisions of this Section 8 shall
                  be accompanied by a statement indicating the corresponding
                  Seller and/or Purchaser Mortgage Loan identification number
                  and an explanation of the allocation of any such payments.

      (g) Books and Records. On the Transfer Date, the books, records and
accounts of Seller with respect to the related Mortgage Loans shall be in
accordance with all applicable industry standards, and with all additional
Purchaser requirements as to which Seller has received notice.

      (h) Reconciliation. On or prior to the Transfer Date, the Seller shall,
with respect to the related Mortgage Loans, reconcile principal balances and
make any monetary adjustments required by Purchaser. Any such monetary
adjustments will be transferred between Seller and Purchaser as appropriate.

      (i) IRS Forms. The Seller shall file, as and when required by law, all IRS
forms 1099, 1099A, 1098 or 1041 and K-1 in relation to the servicing and
ownership of the Mortgage Loans for the portion of such year the Mortgage Loans
were serviced by Seller. Seller shall provide copies of such forms to Purchaser
upon request and Seller shall reimburse Purchaser for any reasonable and
out-of-pocket costs or penalties incurred by Purchaser due to Seller's failure
to comply with this paragraph.

      SECTION 9. Hazard Insurance. If any Mortgaged Property is damaged on or
after the Cut-off Date as a result of fire, windstorm, flood, earthquake,
natural disaster or other hazard, the proceeds of any such insurance policy
relating to the related Mortgaged Property shall be paid to Purchaser and/or the
related mortgagor to be applied as required by the Mortgage Note, Mortgage or
other loan documents.

      SECTION 10. No Solicitation. From and after the Cut-off Date, Seller
hereby agrees that it will not take any action or permit or cause any action to
be taken by any of its agents or affiliates, or by any independent contractors
on Seller's behalf, to personally, by telephone or mail, solicit the mortgagor
or obligor under any Mortgage Loan for the purpose of refinancing, in whole or
in part. It is understood and agreed that all rights and benefits relating to
the solicitation of any mortgagors for mortgage-related consumer products and
the attendant rights, title and interest in and to the list of such mortgagors
and data relating to their Mortgages (including insurance renewal dates) shall
be transferred to Purchaser pursuant hereto on the Closing Date and Seller shall
take no action to undermine these rights and benefits. Notwithstanding the
foregoing, it is understood and agreed that promotions undertaken by Seller or
any affiliate of Seller which are directed to the general public at large,
including, without limitation, mass mailings based on commercially acquired
mailing lists, and newspaper, radio and television advertisements shall not
constitute solicitation under this Section 10.

      SECTION 11. Confidentiality. Seller and Purchaser each hereby agrees to
fully comply with all applicable laws, rules and regulations governing the
confidentiality of any information acquired from or concerning the mortgagors.

      SECTION 12. Survival of Agreement. This Agreement includes provisions
which the parties hereto intend will remain in effect after the closing of the
transaction contemplated by this Agreement and the PPTL. Accordingly, this
Agreement and the PPTL shall survive and remain in effect after the closing.

      SECTION 13. Notices. All demands, notices and communications under this
Agreement and the PPTL shall be in writing and shall be deemed to have been duly
given if (i) mailed by registered or certified mail, return receipt requested or
by overnight delivery service, addressed to the appropriate party hereto at the
address stated in the introduction to this Agreement or (ii) transmitted by
facsimile transmission or by electronic mail with acknowledgment, to the
appropriate party hereto at the facsimile number or the electronic mail address
provided by the other party to this Agreement. Any such demand, notice or
communication shall be deemed to have been received on the date delivered to or
received at the premises of the addressee (as evidenced by the date noted on the
return receipt or overnight delivery receipt).

      SECTION 14. Severability Clause. Any part, provision, representation or
warranty of this Agreement and the PPTL which is prohibited or unenforceable or
is held to be void 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 provisions in any other jurisdiction. To the extent
permitted by applicable law, the parties hereto waive any provision of law which
prohibits or renders void or unenforceable any provision hereof.

      SECTION 15. Counterparts; Facsimile Signatures. For the purpose of
facilitating the execution of this Agreement, and for other purposes, this
Agreement and the PPTL 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. The parties agree
that this Agreement, any documents to be delivered pursuant to this Agreement
and any notices hereunder may be transmitted between them by email and/or by
facsimile. The parties intend that faxed signatures and electronically imaged
signatures such as .pdf files shall constitute original signatures and are
binding on all parties. The original documents shall be promptly delivered, if
requested.

      SECTION 16. Place of Delivery and Governing Law. This Agreement and the
PPTL shall be deemed to have been made in the State of New York. This Agreement
and the PPTL 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 the laws of the State of New York, excluding
conflict of laws issues. The parties hereby agree that all disputes arising
hereunder and in the PPTL shall be submitted to and hereby subject themselves to
the jurisdiction of the courts of competent jurisdiction, state and federal, in
the State of New York.

      SECTION 17. Further Assurances; Financial Statements. Each party to this
Agreement agrees to execute and deliver such instruments and take such actions
as the other party may, from time to time, reasonably request to effect the
purpose and carry out the terms of this Agreement. In addition, Seller shall
provide to Purchaser, no later than forty five (45) days following the end of
each calendar quarter, audited financial statements (or unaudited, if audited
financial statements are not available) of the Seller.

      SECTION 18. Successors and Assigns; Assignment. This Agreement and the
PPTL shall bind and inure to the benefit of and be enforceable by Seller and
Purchaser and the respective successors and assigns of Seller and Purchaser. The
Seller shall require any successor or assignee, whether direct or indirect, by
purchase, merger, consolidation or otherwise, to all or substantially all the
business or assets of the Seller, expressly and unconditionally to assume and
agree to perform the Seller's obligations under this Agreement, in the same
manner and to the same extent that the Seller would be required to perform if no
such succession or assignment had taken place. Purchaser may assign this
Agreement and the PPTL to any Person to whom any Mortgage Loan is transferred
whether pursuant to a sale or financing and to any Person to whom the servicing
or master servicing of any Mortgage Loan is sold or transferred. Upon any such
assignment, the Person to whom such assignment is made shall succeed to all
rights and obligations of Purchaser under this Agreement and the PPTL to the
extent of the related Mortgage Loan or Mortgage Loans and this Agreement and the
PPTL, to the extent of the related Mortgage Loan or Loans, shall be deemed to be
a separate and distinct agreement between Seller and such purchaser, and a
separate and distinct agreement between Seller and each other purchaser to the
extent of the other related Mortgage Loan or Loans. In the event that this
Agreement and the PPTL is assigned to any Person to whom the servicing or master
servicing of any Mortgage Loan is sold or transferred, the rights and benefits
under this Agreement which inure to Purchaser shall inure to the benefit of both
the Person to whom such Mortgage Loan is transferred and the Person to whom the
servicing or master servicing of the Mortgage Loan has been transferred. This
Agreement and the PPTL shall not be assigned, pledged or hypothecated by Seller
to a third party without the consent of Purchaser.

      SECTION 19. Indemnification. Seller agrees to indemnify Purchaser and each
of its officers, directors, employees, agents and subcontractors and to hold
each of them harmless against any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable and necessary legal fees and related costs,
judgments, and any other reasonable out-of-pocket costs, fees and expenses that
are related to or arise from a breach of any representation and warranty or
covenant under this Agreement and the PPTL of Seller, and any action of any
originator, holder or servicer of the Mortgage Loans occurring prior to the
Transfer Date.

      SECTION 20. Amendments. Neither this Agreement nor any PPTL, nor any
provision hereof may be changed, waived, discharged or terminated orally, but
only by a written instrument signed by both Seller and Purchaser.

      SECTION 21. Interpretation. For all purposes of this Agreement and the
PPTL, initially capitalized terms used herein have the meanings ascribed hereto
in this Agreement. Except as expressly otherwise provided herein or unless the
context otherwise requires, for purposes of this Agreement the words "herein,"
"hereto," "hereof" and "hereunder" and other words of similar effect shall refer
to this Agreement as a whole and not to any particular provisions.

      SECTION 22. Intention of the Parties. It is the intention of the parties
that Purchaser is purchasing, and Seller is selling, the related Mortgage Loans
and not a debt instrument of Seller or any other security. Accordingly, each
party intends to treat each transaction for federal income tax purposes and each
transaction shall be reflected on Seller's books and records, tax returns,
balance sheet and other financial statements as a sale by Seller, and a purchase
by Purchaser, of the related Mortgage Loans.

      SECTION 23. Reproduction of Documents. This Agreement and all documents
relating thereto, including, without limitation, (a) consents, waivers and
modifications which may hereafter be executed, (b) documents received by any
party at the closing, and (c) financial statements, certificates and other
information previously or hereafter furnished, may be reproduced by any
photographic, photostatic, microfilm, micro-card, miniature photographic or
other similar process. The parties agree that any such reproduction shall be
admissible in evidence as the original itself in any judicial or administrative
proceeding, whether or not the original is in existence and whether or not such
reproduction was made by a party in the regular course of business, and that any
enlargement, facsimile or further reproduction of such reproduction shall
likewise be admissible in evidence.

      SECTION 24. Exhibits. The exhibits to this Agreement are hereby
incorporated and made a part hereof and are an integral part of this Agreement.

      SECTION 25. PPTL. The terms and conditions set forth in the PPTL with
respect to the Closing Date shall be incorporated herein. In the event of any
conflict between the terms of this Agreement and the PPTL, this Agreement shall
control.

      SECTION 26.  Compliance with Regulation AB.

      Subsection 26.01 Intent of the Parties; Reasonableness.

      The Purchaser and the Seller acknowledge and agree that the purpose of
Section 26 of this Agreement is to facilitate compliance by the Purchaser and
any depositor, as such term is defined in Regulation AB (as defined below), with
respect to any Securitization Transaction (as defined below) (the "Depositor")
with the provisions of Regulation AB and related rules and regulations of the
United States Securities and Exchange Commission (the "Commission"). Although
Regulation AB is applicable by its terms only to offerings of asset-backed
securities that are registered under the Securities Act of 1933, as amended (the
"Securities Act"), the Seller acknowledges that investors in privately offered
securities may require that the Purchaser or any Depositor provide comparable
disclosure in unregistered offerings. References in this Agreement to compliance
with Regulation AB include provision of comparable disclosure in private
offerings.

      Neither the Purchaser nor any Depositor shall exercise its right to
request delivery of information or other performance under these provisions
other than in good faith, or for purposes other than compliance with the
Securities Act, the Securities Exchange Act of 1934, as amended (the "Exchange
Act") and the rules and regulations of the Commission thereunder (or the
provision in a private offering of disclosure comparable to that required under
the Securities Act). The Seller and the Purchaser acknowledge that
interpretations of the requirements of Regulation AB may change over time,
whether due to interpretive guidance provided by the Commission or its staff,
consensus among participants in the asset-backed securities markets, advice of
counsel, or otherwise, and the Seller agrees to comply with requests made by the
Purchaser or any Depositor in good faith for delivery of information under these
provisions on the basis of evolving interpretations of Regulation AB. In
connection with any Securitization Transaction, the Seller shall cooperate fully
with the Purchaser to deliver to the Purchaser (including any of its assignees
or designees) and any Depositor, any and all statements, reports,
certifications, records and any other information necessary in the good faith
determination of the Purchaser or any Depositor to permit the Purchaser or such
Depositor to comply with the provisions of Regulation AB, together with such
disclosures relating to the Seller, any individual, corporation, limited
liability company, partnership, joint venture, association, joint-stock company,
trust, unincorporated organization or government or any agency or political
subdivision thereof (a "Person"), other than a Qualified Correspondent (as
defined below), that originated Mortgage Loans acquired by the Seller (the
"Third-Party Originator") and the Mortgage Loans, reasonably believed by the
Purchaser or any Depositor to be necessary in order to effect such compliance.

      The Purchaser (including any of its assignees or designees) shall
cooperate with the Seller by providing timely notice of requests for information
under these provisions and by reasonably limiting such requests to information
required, in the Purchaser's reasonable judgment, to comply with Regulation AB.

      "Qualified Correspondent" shall be defined as any Person from which the
Seller purchased Mortgage Loans, provided that the following conditions are
satisfied: (i) such Mortgage Loans were originated pursuant to an agreement
between the Seller and such Person that contemplated that such Person would
underwrite mortgage loans from time to time, for sale to the Seller, in
accordance with underwriting guidelines designated by the Seller ("Designated
Guidelines") or guidelines that do not vary materially from such Designated
Guidelines; (ii) such Mortgage Loans were in fact underwritten as described in
clause (i) above and were acquired by the Seller within 180 days after
origination; (iii) either (x) the Designated Guidelines were, at the time such
Mortgage Loans were originated, used by the Seller in origination of mortgage
loans of the same type as the Mortgage Loans for the Seller's own account or (y)
the Designated Guidelines were, at the time such Mortgage Loans were
underwritten, designated by the Seller on a consistent basis for use by lenders
in originating mortgage loans to be purchased by the Seller; and (iv) the Seller
employed, at the time such Mortgage Loans were acquired by the Seller,
pre-purchase or post-purchase quality assurance procedures (which may involve,
among other things, review of a sample of mortgage loans purchased during a
particular time period or through particular channels) designed to ensure that
Persons from which it purchased mortgage loans properly applied the underwriting
criteria designated by the Seller.

      "Regulation AB" shall be defined as Subpart 229.1100 - Asset Backed
Securities (Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be
amended from time to time, and subject to such clarification and interpretation
as have been provided by the Commission in the adopting release (Asset-Backed
Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,631 (Jan.
7, 2005)) or by the staff of the Commission, or as may be provided by the
Commission or its staff from time to time.

      "Securitization Transaction" shall be defined as any transaction involving
either (1) a sale or other transfer of some or all of the Mortgage Loans
directly or indirectly to an issuing entity in connection with an issuance of
publicly offered or privately placed, rated or unrated mortgage-backed
securities or (2) an issuance of publicly offered or privately placed, rated or
unrated securities, the payments on which are determined primarily by reference
to one or more portfolios of residential mortgage loans consisting, in whole or
in part, of some or all of the Mortgage Loans.

      Subsection 26.02. Additional Representations and Warranties of the Seller.

      (a) The Seller hereby shall be deemed to represent to the Purchaser and to
any Depositor, as of the date on which information is first provided to the
Purchaser or any Depositor under Subsection 26.03 that, except as disclosed in
writing to the Purchaser or such Depositor on or prior to such date: (i) there
are no material legal or governmental proceedings pending (or known to be
contemplated) against the Seller or any Third-Party Originator; and (ii) there
are no affiliations, relationships or transactions relating to the Seller or any
Third-Party Originator with respect to any Securitization Transaction and any
party thereto identified by the related Depositor of a type described in Item
1119 of Regulation AB.

      (b) If so requested by the Purchaser or any Depositor on any date
following the date on which information is first provided to the Purchaser or
any Depositor under Subsection 26.03, the Seller shall, within five business
days following such request, confirm in writing that (i) there are no material
legal or governmental proceedings pending (or known to be contemplated) against
the Seller or any Third-Party Originator; and (ii) there are no affiliations,
relationships or transactions relating to the Seller or any Third-Party
Originator with respect to any Securitization Transaction and any party thereto
identified by the related Depositor of a type described in Item 1119 of
Regulation AB or, if any such representation and warranty is not accurate as of
the date of such request, provide reasonably adequate disclosure of the
pertinent facts, in writing, to the requesting party.

      Subsection 26.03. Information to Be Provided by the Seller.

      In connection with any Securitization Transaction the Seller shall (i)
within five business days following written request (which written request may
be delivered in electronic form) by the Purchaser or any Depositor, provide to
the Purchaser and such Depositor (or cause each Third-Party Originator to
provide), in writing and in form and substance reasonably satisfactory to the
Purchaser and such Depositor, the information and materials specified in
paragraphs (a) and (b) of this Subsection, and (ii) within two business days
following written request (which written request may be delivered in electronic
form) provide to the Purchaser and any Depositor (in writing and in form and
substance reasonably satisfactory to the Purchaser and such Depositor) the
information specified in paragraph (c) of this Subsection or confirmation that
there is no material litigation or governmental proceedings pending against the
Seller or any Third-Party Originator and no affiliations or relationships that
developed following the closing date of a Securitization Transaction between the
Seller or any Third-Party Originator and any of the parties specified in clause
(D) of paragraph (a) of this Subsection (and any other parties identified in
writing by the requesting party) with respect to such Securitization
Transaction.

      (a) If so requested by the Purchaser or any Depositor, the Seller shall
provide such information regarding (i) the Seller, as originator of the Mortgage
Loans (including as an acquirer of Mortgage Loans from a Qualified
Correspondent), or (ii) each Third-Party Originator, as is requested for the
purpose of compliance with Items 1103(a)(1), 1105, 1110, 1117 and 1119 of
Regulation AB. Such information shall include, at a minimum:

            (A) the originator's form of organization;

            (B) a description of the originator's origination program and how
      long the originator has been engaged in originating residential mortgage
      loans, which description shall include a discussion of such originator's
      experience in originating mortgage loans of a similar type as the Mortgage
      Loans; information regarding the size and composition of the originator's
      origination portfolio; and information that may be material, in the good
      faith judgment of the Purchaser or any Depositor, to an analysis of the
      performance of the Mortgage Loans, including such originator's
      credit-granting or underwriting criteria for mortgage loans of similar
      type(s) as the Mortgage Loans and such other information as the Purchaser
      or any Depositor may reasonably request for the purpose of compliance with
      Item 1110(b)(2) of Regulation AB;

            (C) a description of any material legal or governmental proceedings
      pending (or known to be contemplated) against the Seller and each
      Third-Party Originator; and

            (D) a description of any affiliation or relationship between the
      Seller and each Third-Party Originator and any of the following parties to
      a Securitization Transaction, as such parties are identified to the Seller
      by the Purchaser or any Depositor in writing in advance of such
      Securitization Transaction:

            (i)   the sponsor;

            (ii)  the depositor;

           (iii)  the issuing entity;

            (iv)  any servicer;

             (v)  any trustee;

            (vi)  any originator;

           (vii)  any significant obligor;

          (viii)  any enhancement or support provider; and

            (ix)  any other material transaction party.

      (b) If so requested by the Purchaser or any Depositor, the Seller shall
provide (or, as applicable, cause each Third-Party Originator to provide) (i)
static pool information as described in Item 1105(a)(1)-(3) and 1105(c) of
Regulation AB to the extent that it is available to the Seller and, if not
prepared by the Seller or its agents, covered by an appropriate indemnity from
the provider of such information, and (ii) information regarding delinquencies,
cumulative losses and prepayments relating to pools of mortgage loans that were
(x) previously securitized and publicly offered in a securitization transaction
in which the Seller or an affiliate of the Seller (or, if applicable the
Third-Party Originator or affiliate of the Third-Party Originator) was the
sponsor and (y) of a similar type to the Mortgage Loans. Such Static Pool
Information shall be prepared by the Seller (or Third-Party Originator) on the
basis of its reasonable, good faith interpretation of the requirements of Item
1105(a)(1)-(3) of Regulation AB. To the extent that there is reasonably
available to the Seller (or Third-Party Originator) Static Pool Information with
respect to more than one mortgage loan type, the Purchaser or any Depositor
shall be entitled to specify whether some or all of such information shall be
provided pursuant to this paragraph. The content of such Static Pool Information
may be in the form customarily provided by the Seller, and need not be
customized for the Purchaser or any Depositor. Such Static Pool Information for
each vintage origination year or prior securitized pool, as applicable, shall be
presented in increments no less frequently than quarterly over the life of the
mortgage loans included in the vintage origination year or prior securitized
pool. The most recent periodic increment must be as of a date no later than one
hundred thirty five (135) days prior to the date of the prospectus or other
offering document in which the Static Pool Information is to be included or
incorporated by reference as specified in writing (which may be delivered in
electronic form) to the Seller by the Purchaser or any Depositor. The Static
Pool Information shall be provided in an electronic format that provides a
permanent record of the information provided, such as a portable document format
(pdf) file, or other such electronic format reasonably required by the Purchaser
or the Depositor, as applicable.

      Promptly following notice or discovery of a material error in Static Pool
Information provided pursuant to the immediately preceding paragraph (including
an omission to include therein information required to be provided pursuant to
such paragraph), the Seller shall provide corrected Static Pool Information to
the Purchaser or any Depositor, as applicable, in the same format in which
Static Pool Information was previously provided to such party by the Seller.

      If so requested by the Purchaser or any Depositor, the Seller shall
provide (or, as applicable, cause each Third-Party Originator to provide), at
the expense of the requesting party (to the extent of any additional incremental
expense associated with delivery pursuant to this Agreement), such agreed-upon
procedures letters of certified public accountants reasonably acceptable to the
Purchaser or Depositor, as applicable, pertaining to Static Pool Information
relating to prior securitized pools for securitizations closed on or after
January 1, 2006 or, in the case of Static Pool Information with respect to the
Seller's or Third-Party Originator's originations or purchases, to calendar
months commencing January 1, 2006, as the Purchaser or such Depositor shall
reasonably request. Such statements and letters shall be addressed to and be for
the benefit of such parties as the Purchaser or such Depositor shall designate,
which may include, by way of example, any sponsor, any Depositor and any broker
dealer acting as underwriter, placement agent or initial purchaser with respect
to a Securitization Transaction. Any such statement or letter may take the form
of a standard, generally applicable document accompanied by a reliance letter
authorizing reliance by the addressees designated by the Purchaser or such
Depositor.

      (c) The Seller shall (or shall cause each Third-Party Originator to), upon
written request (which written request may be delivered in electronic form) of
the Purchaser or any Depositor as specified in the first paragraph of this
Subsection, (i) provide a description in writing to the Purchaser and any
Depositor of (A) any material litigation or governmental proceedings pending
against the Seller or any Third-Party Originator and (B) any affiliations or
relationships that develop following the closing date of a Securitization
Transaction between the Seller or any Third-Party Originator and any of the
parties specified in clause (D) of paragraph (a) of this Subsection (and any
other parties identified in writing by the requesting party) with respect to
such Securitization Transaction.

      (d) Seller shall also deliver to Purchaser and any Person designated by
Purchaser a corporate opinion of in-house counsel, reasonably satisfactory to
the Purchaser or its designee.

      Subsection 26.04. Indemnification; Remedies.

      The Seller shall indemnify the Purchaser, each affiliate of the Purchaser,
and each of the following parties participating in a Securitization Transaction:
each sponsor and issuing entity; each Person responsible for the preparation,
execution or filing of any report required to be filed with the Commission with
respect to such Securitization Transaction, or for execution of a certification
pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect
to such Securitization Transaction; each broker dealer acting as underwriter,
placement agent or initial purchaser, each Person who controls any of such
parties or the Depositor (within the meaning of Section 15 of the Securities Act
and Section 20 of the Exchange Act); and the respective present and former
directors, officers, employees and agents of each of the foregoing and of the
Depositor, and shall hold each of them harmless from and against any losses,
damages, penalties, fines, forfeitures, legal fees and expenses and related
costs, judgments, and any other costs, fees and expenses that any of them may
sustain arising out of or based upon:

             (i)  (A) any untrue statement of a material fact contained or
                  alleged to be contained in any information, report,
                  certification, accountants' letter or other material provided
                  in written or electronic form under this Section 26 by or on
                  behalf of the Seller, or provided under this Section 26 by or
                  on behalf of any Third-Party Originator (collectively, the
                  "Seller Information"), or (B) the omission or alleged omission
                  to state in the Seller Information a material fact required to
                  be stated in the Seller Information or necessary in order to
                  make the statements therein, in the light of the circumstances
                  under which they were made, not misleading; provided, by way
                  of clarification, that clause (B) of this paragraph shall be
                  construed solely by reference to the Seller Information and
                  not to any other information communicated in connection with a
                  sale or purchase of securities, without regard to whether the
                  Seller Information or any portion thereof is presented
                  together with or separately from such other information;

            (ii)  any failure by the Seller or any Third-Party Originator to
                  deliver any information, report, certification, accountants'
                  letter or other material when and as required under this
                  Section 26; or

           (iii)  any breach by the Seller of a representation or warranty set
                  forth in Subsection 26.02(a) or in a writing furnished
                  pursuant to Subsection 26.02(b) and made as of a date prior to
                  the closing date of the related Securitization Transaction, to
                  the extent that such breach is not cured by such closing date,
                  or any breach by the Seller of a representation or warranty in
                  a writing furnished pursuant to Subsection 26.02(b) to the
                  extent made as of a date subsequent to such closing date.

      In the case of any failure of performance described in clause (ii) of this
Subsection, the Seller shall promptly reimburse the Purchaser, any Depositor, as
applicable, and each Person responsible for the preparation, execution or filing
of any report required to be filed with the Commission with respect to such
Securitization Transaction, or for execution of a certification pursuant to Rule
13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such
Securitization Transaction, for all costs reasonably incurred by each such party
in order to obtain the information, report, certification, accountants' letter
or other material not delivered as required by the Seller or any Third-Party
Originator.

<PAGE>

      IN WITNESS WHEREOF, Seller and Purchaser have caused their names to be
signed hereto by their respective authorized officers as of the date first above
written.

                                    WMC MORTGAGE CORP.

                                       By:
                                           -------------------------------------
                                       Name:
                                       Title:

                                    BANK OF AMERICA, NATIONAL ASSOCIATION

                                       By:
                                           -------------------------------------
                                       Name:
                                       Title:

Solely for purposes of Section 5(f) hereof:

GENERAL ELECTRIC CAPITAL CORPORATION

By:
    -------------------------------------
Name:
Title:

<PAGE>

                                   EXHIBIT A-1

                            CONTENTS OF MORTGAGE FILE

      With respect to each Mortgage Loan, the Mortgage File shall include each
of the following items:

1.    The original Mortgage Note, bearing all intervening endorsements,
      endorsed, "Pay to the order of __________, without recourse" and signed in
      the name of Seller by an authorized officer or by facsimile signature,
      including any riders thereto. In the event that the Mortgage Loan was
      acquired by Seller in a merger, the signature must be in the following
      form: "[Seller], successor by merger to [name of predecessor]"; and in the
      event that the Mortgage Loan was acquired or originated by Seller while
      doing business under another name, the signature must be in the following
      form: "[Seller], formerly known as [previous name]" or in lieu thereof, a
      lost note affidavit with indemnification with a copy of the lost Mortgage
      Note attached thereto, in a form acceptable to Purchaser.

      If Seller chooses to use facsimile signatures to endorse Mortgage Notes,
      Seller must provide in an officer's certificate that the endorsement is
      valid and enforceable in the jurisdiction(s) in which the Mortgaged
      Properties are located and must retain in its corporate records the
      following specific documentation authorizing the use of facsimile
      signatures: (i) a resolution from its board of directors authorizing
      specific officers to use facsimile signatures; stating that facsimile
      signatures will be a valid and binding act on Seller's part; and
      authorizing Seller's corporate secretary to certify the validity of the
      resolution, the names of the officers authorized to execute documents by
      using facsimile signatures, and the authenticity of specimen forms of
      facsimile signatures; (ii) the corporate secretary's certification of the
      authenticity and validity of the board of directors' resolution; and (iii)
      a notarized "certification of facsimile signature," which includes both
      the facsimile and the original signatures of the signing officer(s) and
      each officer's certification that the facsimile is a true and correct copy
      of his or her original signature.

2.    Except as provided herein and for each Mortgage Loan that is not a MERS
      Loan, either: (i) the original recorded Mortgage, including all riders
      thereto, with recording information thereon, together with a certified
      true copy of the original power-of-attorney showing the recording
      information thereon if the Mortgage was executed by an attorney-in-fact;
      (ii) a certified true copy of the Mortgage, including all riders thereto,
      and of the power-of-attorney (if applicable) the originals of which have
      been transmitted for recording, until such time as the originals are
      returned by the public recording office, and in the case of each MERS
      Loan, the original Mortgage, noting the presence of the Mortgage
      Identification Number for any MERS Loan (the "MIN") and either language
      indicating that the Mortgage Loan is a Mortgage Loan as to which MERS is
      acting as mortgagee, solely as nominee for the originator of such Loan and
      its successors and assigns (a "MOM Loan") or if the Mortgage Loan was not
      a MOM Loan at origination, the original Mortgage and the assignment
      thereof to MERS, with evidence of recording thereon, or (iii) a copy of
      the Mortgage, including all riders thereto, certified by the public
      recording office in those instances where the public recording office
      retains the original or the original is lost, together with a duplicate
      original mortgagee's certificate of title.

3.    In the case of each Mortgage Loan that is not a MERS Loan, the original
      individual assignment of Mortgage for each Mortgage Loan, in blank, in
      form and substance acceptable for recording but not recorded; provided,
      however, that certain recording information will not be available if, as
      of the Closing Date, Seller has not received the related recorded Mortgage
      from the recorder's office. In the event that the Mortgage Loan was
      acquired by Seller in a merger, the assignment must be by "[Seller],
      successor by merger, to [name of predecessor]"; and in the event the
      Mortgage Loan was acquired or originated by Seller while doing business
      under another name, the assignment must be by "[Seller], formerly known as
      [previous name]."

4.    Original or copy of the policy of title insurance (or, if such policy has
      not yet been issued by the insurer, the preliminary title report).

5.    Originals of all intervening assignments, if any, with evidence of
      recording thereon, or certified true copies with evidence that the
      originals have been transmitted for recording until such time as the
      originals are returned by the public recording office, or a copy of each
      such assignment certified by the public recording office if such office
      retains the original, or if such original is lost.

6.    Originals or certified copies of all assumption, modification,
      consolidation or extension agreements, if any.

7.    Any security agreement, chattel mortgage or equivalent executed in
      connection with the Mortgage.

<PAGE>

                                   EXHIBIT A-2

                           CONTENTS OF SERVICING FILE

      With respect to each Mortgage Loan, the Servicing File shall include each
of the following items:

8.    A copy of each item in the Mortgage File.

9.    All necessary prepayment penalty documentation required to determine the
      amount of the prepayment penalty to be collected.

10.   The original hazard insurance policy and, if required by law, flood
      insurance policy.

11.   All required disclosure statements.

12.   Amortization schedule.

13.   Residential loan application.

14.   Mortgage Loan closing statement.

15.   Verification of employment and income, except for Mortgage Loans
      originated under a Limited Documentation Program.

16.   Verification of acceptable evidence of source and amount of downpayment,
      except for Mortgage Loans originated under a Limited Documentation
      Program.

17.   Credit report on the mortgagor.

18.   Residential appraisal report.

19.   Photograph of the Mortgaged Property.

20.   Survey of the Mortgaged Property (if any).

21.   Copy of each instrument necessary to complete identification of any
      exception set forth in the exception schedule in the title policy, i.e.,
      map or plat, restrictions, easements, sewer agreements, home association
      declarations, etc.

22.   If available, termite report, structural engineer's report, water
      potability and septic certification.

23.   Sales contract, if applicable.

24.   The original or copy of the policy of primary mortgage guaranty insurance
      or, where such insurance is provided by a master policy, a copy of such
      master policy together with the original certificate of insurance or a
      facsimile copy thereof, if any.

25.   Tax receipts, insurance premium receipts, ledger sheets, payment history
      from date of origination, insurance claim files, correspondence, current
      and historical computerized data files, and all other processing,
      underwriting and closing papers and records which are customarily
      contained in a mortgage loan file and which are required to document the
      Mortgage Loan or to service the Mortgage Loan.

<PAGE>

                                    EXHIBIT B

                     FORM OF PURCHASE PRICE AND TERMS LETTER

<PAGE>

                                    EXHIBIT C

                     FORM OF SECURITY RELEASE CERTIFICATION

I.  Release of Security Interest

      _______________________________ ("Lender"), hereby relinquishes any and
all right, title and interest it may have in and to the Mortgage Loans described
in Schedule One attached hereto upon purchase thereof by Bank of America,
National Association from the Seller named below pursuant to that certain
Mortgage Loan Purchase Agreement, dated as of June 1, 2007, as of the date and
time of receipt by Lender of $______________ for such Mortgage Loans (the "Date
and Time of Sale"), and certifies that all notes, deeds, mortgages, assignments
and other documents in its possession relating to such Mortgage Loans have been
delivered and released to the Seller named below or its designees as of the Date
and Time of Sale.

Name and Address of Lender

(Name)

(Address)

By:

Wire Instructions:

Bank Name: ______________________________

ABA #:  _________________________________

Account #:  _____________________________

Account Name:  __________________________

Contact Name:  __________________________

Phone Number: (___) ___-___

<PAGE>

II.  Certification of Release

      The Seller named below hereby certifies to Bank of America, National
Association that, as of the Date and Time of Sale of the above mentioned
Mortgage Loans to Bank of America, National Association, the security interests
in the Mortgage Loans released by the above named [corporation] comprise all
security interests relating to or affecting any and all such Mortgage Loans. The
Seller warrants that, as of such time, there are and will be no other security
interests affecting any or all of such Mortgage Loans.

                                      WMC MORTGAGE CORP.

                              Seller

                               By:     ________________________________
                               Name:   ________________________________
                               Title:  ________________________________

<PAGE>

                                    EXHIBIT D

                              FORM OF BILL OF SALE

      _________________________ hereby absolutely sells, transfers, assigns,
sets-over and conveys to Bank of America, National Association, a national
banking association, without recourse:

            (a)   All right, title and interest in and to each of the assets
                  identified in the Schedule attached hereto as Schedule One
                  including the servicing rights appurtenant thereto; and

            (b)   All principal, interest or other proceeds of any kind received
                  after the close of business on _______ __, 200__ with respect
                  to such assets, including but not limited to insurance
                  proceeds, condemnation awards and other proceeds derived from
                  the conversion, voluntary or involuntary, of any of such
                  assets into cash or other liquidated property.

      The ownership of each Mortgage Note, Mortgage, and the contents of the
Mortgage File is vested in Purchaser and the ownership of all records and
documents with respect to the related Mortgage Loan prepared by or which come
into the possession of Seller shall immediately vest in Purchaser and shall be
retained and maintained, in trust, by Seller at the will of Purchaser in such
custodial capacity only. The sale of each Mortgage Loan shall be reflected as a
sale on Seller's business records, tax returns and financial statements.

      This Bill of Sale is made pursuant to, and is subject to the terms and
conditions of, that certain Mortgage Loan Purchase Agreement dated as of June 1,
2007 between WMC Mortgage Corp., as Seller, and Bank of America, National
Association, as Purchaser (the "Agreement"). Seller confirms to Purchaser that
the representations and warranties set forth in Section 5 of the Agreement are
true and correct as of the date hereof.

      Capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Agreement.

DATED: ______________________

                                    WMC MORTGAGE CORP.

                                       By:
                                           -------------------------------------
                                       Name:
                                       Title:

<PAGE>

                                    EXHIBIT E

                     FORM OF SELLER'S OFFICER'S CERTIFICATE

      I, ________________________, hereby certify that I am the duly elected
______________ of WMC Mortgage Corp., a California corporation (the "Seller"),
and further certify, on behalf of the Seller as follows:

1.    Attached hereto as Attachment I is a true and correct copy of the
      Certificate of Incorporation and by-laws of the Seller as are in full
      force and effect on the date hereof.

2.    Each person who, as an officer or attorney-in-fact of the Seller, signed
      (a) the Mortgage Loan Purchase Agreement (the "Purchase Agreement"), dated
      as of June 1, 2007, between the Seller and Bank of America, National
      Association (the "Purchaser"); (b) the Purchase Price and Terms Letter,
      dated June 12, 2007, between the Seller and the Purchaser (the "PPTL");
      (c) the Memorandum of Sale, dated June 29, 2007, between the Seller and
      the Purchaser and (d) any other document delivered prior hereto or on the
      date hereof in connection with the sale of the Mortgage Loans in
      accordance with the Purchase Agreement and the PPTL was, at the respective
      times of such signing and delivery, and is as of the date hereof, duly
      elected or appointed, qualified and acting as such officer or
      attorney-in-fact, and the signatures of such persons appearing on such
      documents are their genuine signatures.

3.    Attached hereto as Attachment II is a true and correct copy of the
      resolutions duly adopted by the board of directors of the Seller on
      ________________, 2007 or the standing resolutions of the Seller (the
      "Resolutions") with respect to the authorization and approval of the sale
      of the Mortgage Loans or the sale of mortgage loans generally; said
      Resolutions have not been amended, modified, annulled or revoked and are
      in full force and effect on the date hereof.

4.    Attached hereto as Attachment III is a Certificate of Good Standing of the
      Seller dated June [__], 2007. No event has occurred since June [__], 2007
      which has affected the good standing of the Seller under the laws of the
      State of California.

      All capitalized terms used herein and not otherwise defined shall have the
meaning assigned to them in the Purchase Agreement.

      IN WITNESS WHEREOF, I have hereunto signed my name and affixed the seal of
the Seller.

Dated:________________________
      [Seal]

                                 WMC MORTGAGE CORP.
                                 (Seller)

                                  By:
                                      -------------------------------------
                                  Name:
                                  Title: [Vice President]

      I, _________________________________, Secretary of the Seller, hereby
certify that _________________________ is the duly elected, qualified and acting
Vice President of the Seller and that the signature appearing above is genuine.

      IN WITNESS WHEREOF, I have hereunto signed my name.

Dated:

      [Seal]

                                WMC MORTGAGE CORP.
                                (Seller)

                                By:
                                   -------------------------------------
                                Name:
                                Title:  [Assistant] Secretary

<PAGE>

                                    EXHIBIT F

                           FORM OF MEMORANDUM OF SALE

                            [Intentionally Omitted]
<PAGE>

                                  SCHEDULE ONE

                           MORTGAGE LOAN SCHEDULE ONE

1.    Loan #

2.    MERS #, if applicable

3.    Originator Name

4.    Borrower Name Property Address (including Zip Code)

5.    UPB as of Cut-Off Date

6.    Mortgage Note Date

7.    Paid to Date

8.    Lien Priority

9.    PMI Coverage and name of Insurer

10.   Origination Appraisal Value

11.   Seller's BPO Value, if any

12.   LTV at Origination

13.   [Reserved]

14.   Original Note Rate

15.   Current Note Rate

16.   Original P&I

17.   Current P&I

18.   12 month Cash Collection

19.   Original Maturity Date

20.   Type of Plan (Bankruptcy, Foreclosure, etc.)

21.   Modification Date

22.   Foreclosure Flag

23.   Bankruptcy Flag

24.   Bankruptcy Plan Maturity Date

25.   Fixed or Adjustable Interest Rate

26.   Index

27.   Next Adjustment Date

28.   Margin

29.   Original Term

30.   Amortization Term

31.   Current Term (if Modified)

32.   Initial, Periodic or Lifetime Caps or Floors

33.   Property Type

34.   Arrearage

35.   Accrued Interest

36.   Escrow Advances

37.   Claimable Corporate Advances

38.   Prepayment Penalty Percentage or Type

39.   Prepayment Penalty Term

40.   Section 32 Disclosure

41.   Purpose (Purchase Finance, Rate (Term Refinancing, Cash-Out Refinancing,
      etc.)

42.   Documentation Style (Full, Alternative, Reduced, etc.)

43.   Owner Occupied, Investment, etc.

44.   Ground Leases (Y/N)

45.   Balloon Loans (Y/N)

46.   Payment Type

Interest only period, if applicable

<PAGE>

                                  SCHEDULE TWO

                           MORTGAGE LOAN SCHEDULE TWO

1.    Loan #

2.    MERS #, if applicable

3.    Originator Name

4.    Borrower Name Property Address (including Zip Code)

5.    UPB as of Cut-Off Date

6.    Mortgage Note Date

7.    Paid to Date

8.    Lien Priority

9.    PMI Coverage and name of Insurer

10.   Origination Appraisal Value

11.   Seller's BPO Value, if any

12.   LTV at Origination

13.   [Reserved]

14.   Original Note Rate

15.   Current Note Rate

16.   Original P&I

17.   Current P&I

18.   12 month Cash Collection

19.   Original Maturity Date

20.   Type of Plan (Bankruptcy, Foreclosure, etc.)

21.   Modification Date

22.   Foreclosure Flag

23.   Bankruptcy Flag

24.   Bankruptcy Plan Maturity Date

25.   Fixed or Adjustable Interest Rate

26.   Index

27.   Next Adjustment Date

28.   Margin

29.   Original Term

30.   Amortization Term

31.   Current Term (if Modified)

32.   Initial, Periodic or Lifetime Caps or Floors

33.   Property Type

34.   Arrearage

35.   Accrued Interest

36.   Escrow Advances

37.   Claimable Corporate Advances

38.   Prepayment Penalty Percentage or Type

39.   Prepayment Penalty Term

40.   Section 32 Disclosure

41.   Purpose (Purchase Finance, Rate (Term Refinancing, Cash-Out Refinancing,
      etc.)

42.   Documentation Style (Full, Alternative, Reduced, etc.)

43.   Owner Occupied, Investment, etc.

44.   Ground Leases (Y/N)

45.   Balloon Loans (Y/N)

46.   Payment Type

Interest only period, if applicable

<PAGE>

                                 SCHEDULE THREE

                          MORTGAGE LOAN SCHEDULE THREE

1.    Loan #

2.    MERS #, if applicable

3.    Originator Name

4.    Borrower Name Property Address (including Zip Code)

5.    UPB as of Cut-Off Date

6.    Mortgage Note Date

7.    Paid to Date

8.    Lien Priority

9.    PMI Coverage and name of Insurer

10.   Origination Appraisal Value

11.   Seller's BPO Value, if any

12.   LTV at Origination

13.   [Reserved]

14.   Original Note Rate

15.   Current Note Rate

16.   Original P&I

17.   Current P&I

18.   12 month Cash Collection

19.   Original Maturity Date

20.   Type of Plan (Bankruptcy, Foreclosure, etc.)

21.   Modification Date

22.   Foreclosure Flag

23.   Bankruptcy Flag

24.   Bankruptcy Plan Maturity Date

25.   Fixed or Adjustable Interest Rate

26.   Index

27.   Next Adjustment Date

28.   Margin

29.   Original Term

30.   Amortization Term

31.   Current Term (if Modified)

32.   Initial, Periodic or Lifetime Caps or Floors

33.   Property Type

34.   Arrearage

35.   Accrued Interest

36.   Escrow Advances

37.   Claimable Corporate Advances

38.   Prepayment Penalty Percentage or Type

39.   Prepayment Penalty Term

40.   Section 32 Disclosure

41.   Purpose (Purchase Finance, Rate (Term Refinancing, Cash-Out Refinancing,
      etc.)

42.   Documentation Style (Full, Alternative, Reduced, etc.)

43.   Owner Occupied, Investment, etc.

44.   Ground Leases (Y/N)

45.   Balloon Loans (Y/N)

46.   Payment Type

Interest only period, if applicable

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