Document:

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                                                                     EXHIBIT 4.3

                   IRWIN WHOLE LOAN HOME EQUITY TRUST 2002-A,

                                   as Issuer,

                WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION,

                                as Administrator,

                                       and

                       IRWIN UNION BANK AND TRUST COMPANY,

                               as Master Servicer

                            ADMINISTRATION AGREEMENT

                            Dated as of May 31, 2002

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<TABLE>
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                                TABLE OF CONTENTS

                                                                                                          PAGE
<S>                                                                                                       <C>

Section 1.     Duties of Administrator........................................................................2

Section 2.     Duties of the Master Servicer With Respect to the Indenture....................................3

Section 3.     Records........................................................................................5

Section 4.     Compensation...................................................................................5

Section 5.     Additional Information to be Furnished to the Issuer...........................................5

Section 6.     Independence of the Administrator..............................................................5

Section 7.     No Joint Venture...............................................................................5

Section 8.     Other Activities of Administrator and Master Servicer..........................................5

Section 9.     Term of Agreement; Resignation and Removal.....................................................6

Section 10.    Action upon Termination, Resignation or Removal................................................7

Section 11.    Notices........................................................................................7

Section 12.    Amendments.....................................................................................7

Section 13.    Successor and Assigns..........................................................................8

Section 14.    Governing Law..................................................................................8

Section 15.    Headings.......................................................................................8

Section 16.    Counterparts...................................................................................8

Section 17.    Severability...................................................................................9

Section 18.    Limitation of Liability of Owner Trustee.......................................................9

Section 19.    Benefit of Agreement...........................................................................9

Section 20.    Bankruptcy Matters.............................................................................9

Section 21.    Rights of the Enhancer.........................................................................9

Section 22.    Third Party Beneficiary.......................................................................10
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                                       i
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         This Administration Agreement, dated as of May 31, 2002, is among Irwin
Whole Loan Home Equity Trust 2002-A, a Delaware business trust, as issuer (the
"Issuer"), Wells Fargo Bank Minnesota, National Association, a national banking
corporation, as administrator (the "Administrator"), and Irwin Union Bank and
Trust Company, a bank chartered under the laws of the State of Indiana, as
master servicer (the "Master Servicer").

                                   WlTNESSETH:

         WHEREAS, the Issuer is a business trust under the Delaware Business
Trust Act (12 Del. C. ss. 3801 et seq.) created and governed by a trust
agreement dated as of May 31, 2002 (the "Trust Agreement"), between Bear Stearns
Asset Backed Securities, Inc., as depositor (the "Depositor"), and Wilmington
Trust Company, as owner trustee (the "Owner Trustee");

         WHEREAS, the Issuer will issue Home Equity Loan-Backed Notes, Series
2002-A (the "Notes") and Home Equity Loan-Backed Certificates, Series 2002-A
(the "Certificates" and, together with the Notes, the "Securities");

         WHEREAS, the Notes will be issued pursuant to an indenture dated as of
May 31, 2002 (the "Indenture"; all capitalized terms used and not defined herein
shall have the meaning assigned thereto in Appendix A to the Indenture), between
the Issuer and Wells Fargo Bank Minnesota, National Association, as indenture
trustee (in such capacity, the "Indenture Trustee");

         WHEREAS, the Certificates will be issued pursuant to the Trust
Agreement and will represent undivided beneficial ownership interests in the
Trust;

         WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Securities, including (a) a sale and servicing
agreement dated as of May 31, 2002 (the "Sale and Servicing Agreement"), among
the Issuer, the Depositor, the Master Servicer and the Indenture Trustee, (b)
the letter of representations dated June 20, 2002, among the Issuer, the
Indenture Trustee and The Depository Trust Company relating to the Offered Notes
(the "Depository Agreement"), (c) the Indenture, (d) the insurance agreement
dated as of June 1, 2002 (the "Insurance Agreement"), among the Issuer, the
Enhancer, the Master Servicer, the Depositor and the Indenture Trustee, and (e)
the Trust Agreement (the Sale and Servicing Agreement, the Depository Agreement,
the Indenture, the Insurance Agreement and the Trust Agreement being hereinafter
referred to collectively as the "Related Agreements");

         WHEREAS, pursuant to the Related Agreements, the Issuer is required to
perform certain duties in connection with (a) the Notes and the collateral
pledged to support the Notes pursuant to the Indenture (the "Collateral") and
(b) the beneficial ownership interests in the Issuer represented by the
Certificates;

         WHEREAS, the Issuer desires to have the Administrator and the Master
Servicer, respectively, perform certain of the duties of the Issuer referred to
in the preceding clause, and to provide such additional services consistent with
the terms of this Agreement and the Related Agreements as the Issuer may from
time to time request; and

                                       1
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         WHEREAS, the Administrator and the Master Servicer have the capacity to
provide the respective services required hereby and are willing to perform such
services for the Issuer on the terms set forth herein.

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein, and other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties agree as follows:

         Section 1. Duties of Administrator. The Administrator shall perform all
of the duties of the Issuer under the Depository Agreement. The Administrator
shall consult with the Owner Trustee regarding the duties of the Issuer under
the Sale and Servicing Agreement, the Indenture and the Depository Agreement.
The Administrator shall take all appropriate action that is the duty of the
Issuer to take with respect to the following matters under the Indenture
(parenthetical section references are to sections of the Indenture):

         (a)   to maintain an office for transfers at the Corporate Trust Office
of the Indenture Trustee (Section 3.02);

         (b)   to cause the Paying Agents to engage in certain specified
activities and undertake certain specified activities with respect to any Paying
Agents (Section 3.03);

         (c)   to enforce the obligation of the Master Servicer under the Sale
and Servicing Agreement for recording Assignments of Mortgages (Section 3.13);

         (d)   to give prompt written notice of each Event of Default under the
Indenture, to the extent the Administrator has knowledge thereof (Section 3.23);

         (e)   to execute and deliver any further instruments in order to carry
out the purpose of the Indenture (Section 3.24);

         (f)   reserved;

         (g)   to approve a successor Depository and give the order to allow the
Owner Trustee to execute the original Notes on its behalf (Section 4.01);

         (h)   to undertake the activities required to register, transfer and
exchange the Notes (Section 4.02);

         (i)   to undertake the activities required to replace mutilated,
destroyed, lost or stolen Notes (Section 4.03);

         (j)   to undertake the activities required to cancel the Notes (other
than the signature of the Owner Trustee thereon) (Section 4.05);

         (k)   upon prior written notice from the Master Servicer, (accompanied
by any required Officer's Certificate or Opinion of Counsel required of the
Issuer, which in the case of the Officer's Certificate may be executed by the
Master Servicer on behalf of the Issuer), to execute and deliver the required
items to satisfy and discharge the Indenture (Section 4.11);

                                       2
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         (l)   to issue the demand to repay all monies held by the Paying Agent
upon discharge of the Indenture (Section 4.13);

         (m)   to direct and cause the creation of temporary Notes (Section
4.15);

         (n)   at the written request of the Indenture Trustee, to take all
lawful action to compel the performance of the Seller and the Master Servicer
(Section 5.17);

         (o)   to furnish names and addresses of Noteholders to the Indenture
Trustee and, with respect to the Group I Noteholders, the Enhancer (Section
7.01);

         (p)   to make the required filings with the Commission (Section 7.03);

         (q)   to determine new Notes pursuant to a supplemental indenture
(Section 9.06); and

         (r)   to effect the recording of the Indenture upon notification of the
need to record the Indenture (Section 10.14).

         Except as otherwise set forth in Section 4.02 of the Trust Agreement
and Section 2, in addition to the duties of the Administrator set forth above,
the Administrator shall prepare for execution by the Issuer or shall cause the
preparation by other appropriate persons of all such documents, reports,
filings, instruments, certificates and opinions as it shall be the duty of the
Issuer to prepare, file or deliver pursuant to the Related Agreements, and at
the request of the Owner Trustee shall take all appropriate action that it is
the duty of the Issuer to take pursuant to the Related Agreements.

         The Administrator shall perform the duties, if any, expressly required
to be performed by the Administrator under the Trust Agreement and the Sale and
Servicing Agreement.

         In carrying out the foregoing duties or any of its other obligations
under this Agreement, the Administrator may enter into transactions with or
otherwise deal with any of its Affiliates; provided, however, that the terms of
any such transactions or dealings shall be in accordance with any directions
received from the Issuer and shall be, in the Administrator's opinion, no less
favorable to the Issuer than would be available from unaffiliated parties. The
Administrator shall have all of the rights and protections of the Indenture
Trustee set forth in Article VI of the Indenture.

         Section 2. Duties of the Master Servicer With Respect to the Indenture.

         (a)   The Master Servicer shall take all appropriate action that is the
duty of the Issuer to take with respect to the following matters under the
Indenture (parenthetical section references are to sections of the Indenture):

               (i)    to effect any required qualification to do business of the
Issuer in a jurisdiction other than Delaware (Section 3.04);

               (ii)   to give written notice to the Indenture Trustee of the
Legal Final Payment Date for any Class of Notes (Section 3.05(c));

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               (iii)  to cause delivery of the Opinions of Counsel regarding the
Trust Estate required on the Closing Date and annually thereafter (Section
3.07);

               (iv)   to prepare and deliver to the Issuer for signature the
annual statement as to Issuer compliance (Section 3.10);

               (v)    to deliver the required items in the event of a
consolidation, merger or conveyance of assets (Section 3.16);

               (vi)   to deliver an Officer's Certificate upon learning of the
occurrence of an Event of Default (Section 5.01);

               (vii)  to remove the Indenture Trustee and appoint a successor
Indenture Trustee upon the occurrence of certain events (Section 6.08);

               (viii) to furnish an Officer's Certificate pursuant to Section
8.03 of the Indenture (Section 8.03);

               (ix)   to issue a request to release property from the Lien of
the Indenture (Section 8.05);

               (x)    to request a supplemental indenture not requiring consent
of the Noteholders (Section 9.01) and provide any required Opinion of Counsel or
other certification in connection therewith;

               (xi)   to request a supplemental indenture requiring consent of
the Noteholders (Section 9.02); and

               (xii)  to provide the Officer's Certificates and Opinions of
Counsel required pursuant to Section 10.01 of the Indenture.

         (b)   Subject to Section 5, and in accordance with the directions of
the Owner Trustee, the Master Servicer shall administer, perform or supervise
the performance of such other activities in connection with the Collateral
(including the Related Agreements) as are not covered by any of the foregoing
provisions and as are expressly requested by the Owner Trustee and are
reasonably within the capability of the Master Servicer.

         (c)   Notwithstanding anything in this Agreement or the Related
Agreements to the contrary, the Master Servicer shall be responsible for
promptly notifying the Owner Trustee in the event that any withholding tax is
imposed on the Trust's payments (or allocations of income) to a
Certificateholder as contemplated by Section 5.01(b) of the Trust Agreement. Any
such notice shall specify the amount of any withholding tax required to be
withheld by the Owner Trustee pursuant to such provision.

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         (d)   Notwithstanding anything in this Agreement or the Related
Agreements to the contrary, the Master Servicer shall be responsible for
performance of its duties as set forth in Section 5.05 of the Trust Agreement
with respect to, among other things, accounting and reports to
Certificateholders and holders of the Non-Offered Subordinate Notes (other than
the Class IIX-IO Notes); provided, however, that the Master Servicer shall be
responsible for the distribution of the Schedule K-1s necessary to enable each
Certificateholder and each holder of the Non-Offered Subordinate Notes (other
than the Class IIX-IO Notes) to prepare its federal and state income tax
returns.

         Section 3. Records. The Administrator shall maintain appropriate books
of account and records relating to services performed hereunder, which books of
account and records shall be accessible for inspection by the Issuer, the
Enhancer and the Master Servicer at any time during normal business hours.

         Section 4. Compensation. The Administrator will perform the duties and
provide the services called for under Section 1 for so long as it remains
Indenture Trustee under the Indenture. The Administrator shall be entitled to
receive on each Payment Date reimbursement from the Master Servicer for all
reasonable out-of-pocket expenses incurred by it. Such expenses shall include
the reasonable expenses and disbursements of the Administrator's agents,
counsel, accountants and experts.

         Section 5. Additional Information to be Furnished to the Issuer. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request.

         Section 6. Independence of the Administrator. For all purposes of this
Agreement, the Administrator shall be an independent contractor and shall not be
subject to the supervision of the Issuer or the Master Servicer with respect to
the manner in which it accomplishes the performance of its obligations
hereunder. Unless expressly authorized by the Issuer, the Administrator shall
have no authority to act for or represent the Issuer or the Owner Trustee in any
way and shall not otherwise be deemed an agent of the Issuer or the Owner
Trustee.

         Section 7. No Joint Venture. Nothing contained in this Agreement (i)
shall constitute the Administrator or the Master Servicer, respectively, and
either of the Issuer or the Owner Trustee as members of any partnership, joint
venture, association, syndicate, unincorporated business or other separate
entity, (ii) shall be construed to impose any liability as such on any of them
or (iii) shall be deemed to confer on any of them any express, implied or
apparent authority to incur any obligation or liability on behalf of the others.

         Section 8. Other Activities of Administrator and Master Servicer.
Nothing herein shall prevent the Administrator, the Master Servicer or their
respective Affiliates from engaging in other businesses or, in its sole
discretion, from acting in a similar capacity as an administrator for any other
Person or entity even though such Person or entity may engage in business
activities similar to those of the Issuer or the Owner Trustee.

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         Section 9. Term of Agreement; Resignation and Removal.

         (a)   This Agreement shall continue in force until the termination of
the Trust Agreement in accordance with its terms, upon which event this
Agreement shall automatically terminate.

         (b)   Subject to Section 9(e), the Administrator may resign from its
duties hereunder by providing the Issuer, the Enhancer and the Depositor with at
least 60 days' prior written notice.

         (c)   Subject to Section 9(e), the Depositor may remove the
Administrator without cause by providing the Administrator with at least 60
days' prior written notice, with a copy to the Enhancer.

         (d)   Subject to Section 9(e), the Depositor may remove the
Administrator, immediately upon written notice of termination from the Depositor
to the Administrator, with a copy to the Enhancer, if any of the following
events shall occur:

               (i)    the Administrator shall default in the performance of any
of its duties under this Agreement and, after notice of such default, shall not
cure such default within ten days (or, if such default cannot be cured within
such period, shall not give within ten days of such notice such assurance of
cure as shall be reasonably satisfactory to the Depositor);

               (ii)   a court having jurisdiction in the premises shall enter a
decree or order for relief, and such decree or order shall not have been vacated
within 60 days, in respect of the Administrator in any involuntary Proceeding
under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or appoint a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official for the Administrator or any
substantial part of its property or order the winding-up or liquidation of its
affairs; or

               (iii)  the Administrator shall commence a voluntary Proceeding
under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, shall consent to the entry of an order for relief in an
involuntary Proceeding under any such law, shall consent to the appointment of a
receiver, liquidator, assignee, trustee, custodian, sequestrator or similar
official for the Administrator or any substantial part of its property, shall
consent to the taking of possession by any such official of any substantial part
of its property, shall make any general assignment for the benefit of its
creditors or shall fail generally to pay its debts as they become due.

         The Administrator agrees that if any of the events specified in clauses
(ii) or (iii) of this Section shall occur, it shall give written notice thereof
to the Depositor and the Master Servicer, with a copy to the Enhancer, within
seven days thereafter.

         (e)   No resignation or removal of the Administrator pursuant to this
Section shall be effective until (i) a successor Administrator, acceptable to
the Enhancer, shall have been appointed by the Depositor and the Issuer and (ii)
such successor Administrator shall have agreed in writing to be bound by the
terms of this Agreement in the same manner as the Administrator is bound
hereunder.

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         (f)   Subject to Sections 9(e) and 9(b), the Administrator acknowledges
that upon the appointment of a successor Indenture Trustee pursuant to the
Indenture, the Administrator shall immediately resign, and such successor
Indenture Trustee shall automatically become the Administrator under this
Agreement. Any such successor Indenture Trustee shall be required to agree to
assume the duties of the Administrator under the terms and conditions of this
Agreement as a condition of its appointment as successor Indenture Trustee.

         Section 10. Action upon Termination, Resignation or Removal. Promptly
upon the effective date of termination of this Agreement pursuant to Section
9(b) or the resignation or removal of the Administrator pursuant to Section 9(b)
or 9(c), respectively, the Administrator shall be entitled to all reimbursable
expenses accruing to it to the date of such termination, resignation or removal.
The Administrator shall forthwith upon such termination pursuant to Section 9(a)
deliver to the Depositor all property and documents of or relating to the
Collateral then in the custody of the Administrator in the event of the
resignation or removal of the Administrator pursuant to Section 9(b), (c) or
(d), respectively; and the Administrator shall cooperate with the Issuer and the
Depositor and take all reasonable steps requested to assist the Issuer in making
an orderly transfer of the duties of the Administrator.

         Section 11. Notices. Any notice, report or other communication given
hereunder shall be in writing and addressed as follows: (a) if to the Issuer, to
c/o Wilmington Trust Company, as Owner Trustee, Rodney Square North, 1100 North
Market Street, Wilmington, Delaware 19890, Attention: Corporate Trust Department
(with a copy to the Master Servicer, the Depositor and the Administrator); (b)
if to the Master Servicer, to 500 Washington Street, Columbus, Indiana 47201,
Attention: Ellen Mufson, Esq. and Gloria Curry (with a copy to Edwin Corbin,
Mary Rottman and Gary Iorfido, Esq., 12677 Alcosta Blvd., Suite 500, San Ramon,
California 94583); (c) if to the Administrator, to 9062 Old Annapolis Road,
Columbia, Maryland 21045 (with a copy to the Indenture Trustee at Wells Fargo
Center, MAC # 9311-161, Sixth and Marquette, Minneapolis, Minnesota 55479,
Attention: Corporate Trust Services); (d) if the Depositor, to 383 Madison
Avenue, 10th Floor, New York, New York 10167, Attention: Asset Backed Securities
Group; (e) if to the Enhancer, to MBIA Insurance Corporation, 113 King Street,
Armonk, New York 10504, Attention: Insured Portfolio Management-Structured
Finance (IPM-SF), Irwin Whole Loan Home Equity Trust 2002-A; and (f) as to each
of the foregoing Persons, at such other address as shall be designated by such
Person in a written notice to the other foregoing Persons. Any notice required
to be in writing hereunder shall be deemed given if such notice is mailed by
certified mail, postage prepaid, or hand delivered to the address of such party
as provided above.

         Section 12. Amendments. This Agreement may be amended from time to time
by the parties hereto with the consent of the Enhancer (i) to cure any
ambiguity, correct any mistake or supplement any provision of this Agreement
that may be inconsistent with any other provision of this Agreement, add any
provision that provides additional rights to the Certificateholders or
Noteholders, deal with any matter not covered in this Agreement (i.e., to give
effect to the intent of the parties), or ensure that the Trust and any portion
thereof is not classified as a taxable mortgage pool or an association (or a
publicly traded partnership) taxable as a corporation for federal income tax
purposes; provided, that (A) (i) such amendment will not, in the good faith
judgment of the parties thereto, materially and adversely affect the interest of
any Certificateholder or Noteholder, and (ii) an Opinion of Counsel is delivered
to the Owner Trustee

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and the Enhancer to the effect that such amendment will not materially and
adversely affect the interest of any Certificateholder or Noteholder or (B) to
the extent affected thereby, with the consent of the Holders of Notes evidencing
not less than a majority of the Note Balance of the Notes and, to the extent
affected thereby, the consent of the Holders of Certificates evidencing not less
than a majority of the Percentage Interests of the Certificates for the purpose
of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or of modifying in any manner the rights of the
Noteholders or the Certificateholders; provided that no such amendment shall (a)
increase or reduce in any manner the amount of, or accelerate or delay the
timing of, collections of payments on Mortgage Loans or distributions that shall
be required to be made for the benefit of the Noteholders or the
Certificateholders without the consent of the Holders of each outstanding Note
or Certificate affected thereby, or (b) reduce the aforesaid percentage of the
Note Balance of the Notes and the Percentage Interests of the Certificates
required to consent to any such amendment, without the consent of the Holders of
all the outstanding Notes, the Holders of all outstanding Certificates.

         Promptly after the execution of any such amendment or consent, the
Administrator shall furnish written notification of the substance of such
amendment or consent to each Certificateholder and the Indenture Trustee. It
shall not be necessary for the consent of the Certificateholder or Noteholder
pursuant to this Section to approve the particular form of any proposed
amendment or consent, but it shall be sufficient if such consent shall approve
the substance thereof. The manner of obtaining such consents (and any other
consents of the Certificateholder or Noteholders provided for in this Agreement
or in any other Basic Document) and of evidencing the authorization of the
execution thereof by the Certificateholder or Noteholders shall be subject to
such reasonable requirements as the Owner Trustee or Indenture Trustee may
prescribe from time to time.

         Section 13. Successor and Assigns. This Agreement may not be assigned
by the Administrator. Notwithstanding the foregoing, this Agreement may be
assigned by the Administrator without the consent of any Person to a Person that
is a successor by merger, consolidation or purchase of assets to the
Administrator, provided that such successor executes and delivers to the other
parties hereto an agreement in which such successor agrees to be bound hereunder
by the terms of such assignment in the same manner as the Administrator is bound
hereunder. Subject to the foregoing, this Agreement shall bind any permitted
successors or assigns of the parties hereto.

         Section 14. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

         Section 15. Headings. The section headings hereof are for convenience
of reference only, and shall not be construed to affect the meaning,
construction or effect of this Agreement.

         Section 16. Counterparts. This Agreement may be executed in any number
of counterparts, each of which when so executed shall together constitute but
one and the same instrument.

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         Section 17. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

         Section 18. Limitation of Liability of Owner Trustee. Notwithstanding
anything contained herein to the contrary, this Agreement has been countersigned
by Wilmington Trust Company not in its individual capacity but solely in its
capacity as Owner Trustee, and in no event shall Wilmington Trust Company in its
individual capacity or any beneficial owner of the Issuer have any liability for
the representations, warranties, covenants, agreements or other obligations of
the Issuer hereunder, as to all of which recourse shall be had solely to the
assets of the Issuer. For all purposes of this Agreement, in the performance of
any duties or obligations of the Issuer hereunder, the Owner Trustee shall be
subject to, and entitled to the benefits of, the terms and provisions of
Articles VI, VII and VIII of the Trust Agreement.

         Section 19. Benefit of Agreement. It is expressly agreed that in
performing its duties under this Agreement, the Administrator will act for the
benefit of the Securityholders and the Owner Trustee as well as for the benefit
of the Trust, and that such obligations on the part of the Administrator shall
be enforceable at the instance of the other parties hereto.

         Section 20. Bankruptcy Matters. No party to this Agreement shall take
any action to cause the Trust to dissolve in whole or in part or file a
voluntary petition or otherwise initiate Proceedings to have the Trust
adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy
or insolvency Proceedings against the Trust, file a petition seeking or
consenting to reorganization or relief of the Trust as debtor under any
applicable federal or state law relating to bankruptcy, insolvency or other
relief for debtors with respect to the Trust; seek or consent to the appointment
of any trustee, receiver, conservator, assignee, sequestrator, custodian,
liquidator (or other similar official) of the Trust or of all or any substantial
part of the properties and assets of the Trust, cause the Trust to make any
general assignment for the benefit of its creditors or otherwise take any action
in furtherance of any of the above actions.

         Section 21. Rights of the Enhancer Except to the extent otherwise
provided in this Agreement, (i) the rights and benefits of the Enhancer in this
Agreement relate only to the Group I Notes and the Mortgage Loans assigned to
Group I and (ii) all provisions in this Agreement referring to the consent or
approval of the Enhancer or actions with respect to the Enhancer shall apply and
be implemented only to the extent that such consent, approval or actions affect
or concern the Group I Notes (or the Enhancer's obligations in respect thereof)
or the Mortgage Loans assigned to Group I. Notwithstanding any provision in this
Agreement to the contrary, all rights and benefits of the Enhancer in this
Agreement (including but not limited to consent rights, rights to notices and
rights with respect to opinions) shall terminate upon the later of (a) the
repayment in full of the Group I Notes and the payment to the Enhancer of any
unpaid amounts owed to it under the Insurance Agreement with interest thereon at
the Late Payment Rate as specified in the Insurance Agreement and (b) the
termination of all of the Enhancer's obligations under the Policy.

                                       9
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         Section 22. Third Party Beneficiary The Enhancer shall be an express
and intended third party beneficiary of this Agreement entitled to enforce this
Agreement as if it were a party hereto.

                                      * * *

                                       10
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         IN WITNESS WHEREOF, the Issuer, the Administrator and the Master
Servicer have caused this Agreement to be duly executed by their respective
officers or representatives as of the date and year first above written.

                                 IRWIN WHOLE LOAN HOME EQUITY
                                   TRUST 2002-A,
                                 as Issuer

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

                                 By:_/s/ ANITA E. DALLAGO
                                     -----------------------------------------
                                      Name: Anita E. Dallago
                                      Title: Senior Financial Services Officer

                                 WELLS FARGO BANK MINNESOTA,
                                 NATIONAL ASSOCIATION, not in its
                                 individual capacity but solely as Administrator

                                 By:_/s/ PETER A. GOBELL
                                     -----------------------------------------
                                      Title: Peter A. Gobell
                                      Name: Vice President

                                 IRWIN UNION BANK AND TRUST
                                 COMPANY, as Master Servicer

                                 By: /s/ EDWIN K. CORBIN
                                     -----------------------------------------
                                      Name: Edwin K. Corbin
                                      Title: Vice President-Business Development
                                             Home Equity Lending

                                       11<PAGE>

                                                                    EXHIBIT 10.1
                         NOTE GUARANTY INSURANCE POLICY

OBLIGATIONS: Irwin Whole Loan Home Equity Trust 2002-A      POLICY NUMBER: 38381
             Home Equity Loan-Backed Notes, Series 2002-A
             $49,230,000 Class IA-1 Notes and
             Not to Exceed $5,000,000
             Home Equity Loan-Backed Variable Funding Notes, Series 2002-A

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

         Notwithstanding the foregoing paragraph, this Policy does not cover
shortfalls, if any, attributable to the liability of the trust fund or the
Indenture Trustee for withholding taxes, if any (including interest and
penalties in respect of any such liability) Interest Carry-Forward Amounts,
Relief Act Shortfalls, or any shortfalls to the amount available to pay interest
on the Obligations caused by the partial or full prepayment of Group I Mortgage
Loans.

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

<PAGE>

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

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

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

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

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

         "Agreement" means the Indenture dated as of May 31, 2002 among the
Irwin Whole Loan Home Equity Trust 2002-A, as Issuer, and the Indenture Trustee,
as indenture trustee, without regard to any amendment or supplement thereto,
unless such amendment or supplement has been approved in writing by the Insurer.

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

         "Deficiency Amount" means (a) with respect to the Obligations and any
Payment Date, the amount by which the aggregate amount of accrued interest on
the Obligations (excluding any Interest Carry-Forward Amounts and Relief Act
Shortfalls for such Payment Date and any shortfalls for such Payment Date caused
by partial or full prepayments of the Group I Mortgage Loans) at the Note Rate
on such Payment Date exceeds the amount on deposit in the Trustee Collection
Account available for interest distributions on the Obligations on such Payment
Date and (b)(i) with respect to any Payment Date that is not the Final Payment
Date, any

                                       2
<PAGE>

Subordination Deficit Amount for such Payment Date, to the extent not
distributed as part of the Liquidation Loss Distribution Amount on such Payment
Date or a reduction in the Overcollateralization Amount or (ii) on the Final
Payment Date, the aggregate outstanding Note Balance of the Obligations to the
extent otherwise not paid on such date.

         "Final Payment Date" means July 25, 2032.

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

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

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

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

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

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

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

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

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

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

                                       3
<PAGE>

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

         IN WITNESS WHEREOF, the Insurer has caused this Policy to be executed
and attested this 20th day of June 2002.

                                    MBIA INSURANCE CORPORATION

                                    By /s/ GARY C. DUNTON
                                       ------------------
                                        President

                                 Attest:

                                     By /s/ AMY R. GONCH
                                        ------------------
                                        Assistant Secretary

                                       4
<PAGE>

                                                                    EXHIBIT 10.1

                                    EXHIBIT A

                           TO NOTE GUARANTY INSURANCE
                              POLICY NUMBER: 38381

                           NOTICE UNDER NOTE GUARANTY
                         INSURANCE POLICY NUMBER: 38381

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

MBIA Insurance Corporation
113 King Street
Armonk, NY  10504

         The undersigned, a duly authorized officer of [NAME OF INDENTURE
TRUSTEE], as indenture trustee (the "Indenture Trustee"), hereby certifies to
State Street Bank and Trust Company, N.A. (the "Fiscal Agent") and MBIA
Insurance Corporation (the "Insurer"), with reference to Note Guaranty Insurance
Policy Number: 38381 (the "Policy") issued by the Insurer in respect of the
Irwin Whole Loan Home Equity Trust 2002-A Home Equity Loan-Backed Notes, Series
2002-A $49,230,000 Class IA-1 Notes and Not to Exceed $5,000,000 Home Equity
Loan-Backed Variable Funding Notes, Series 2002-A (the "Obligations"), that:

               (a)    the Indenture Trustee is the indenture trustee under the
         Indenture dated as of May 31, 2002, among Irwin Whole Loan Home Equity
         Loan Trust 2002-A, as Issuer, and the Indenture Trustee, as indenture
         trustee for the Owners;

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

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

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

               (e)    the amount of previously distributed payments on the
         Obligations that is recoverable and sought to be recovered as a
         voidable preference by a trustee in bankruptcy pursuant to the
         Bankruptcy Code in accordance with a final nonappealable

<PAGE>

         order of a court having competent jurisdiction is $[           ] (the
         "Preference Amount");

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

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

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

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

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

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

                         [NAME OF INDENTURE TRUSTEE], as Indenture Trustee

                         By ____________________________________________________
                         Title _________________________________________________

                                      A-2

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