Document:

Schedule to the Master Agreement by and between Lehman Brothers

 Exhibit 4.16 
 (Multicurrency-Cross Border) 
 SCHEDULE 
 to the 
 Master Agreement 
 dated as of May 10, 2005 
 between 
 LEHMAN BROTHERS SPECIAL FINANCING INC. (“Party A”), 
 a
corporation organized under the laws of 
 the State of Delaware 
 and 
 ACCREDITED HOME LENDERS, INC. (“Party B”), 
 a corporation organized under the laws of 
 Delaware 
 Part 1: Termination Provisions 
 In
this Agreement: 
  

	(a)	“Specified Entity” means: 

 in relation to
Party A for the purpose of: 
  

			
	Section 5(a)(v),	  	Not applicable.
	Section 5(a)(vi),	  	Not applicable.
	Section 5(a)(vii),	  	Not applicable.
	Section 5(b)(iv),	  	Not applicable.

 and in relation to Party B for the purpose of: 
  

			
	Section 5(a)(v),	  	All Affiliates.
	Section 5(a)(vi),	  	All Affiliates.
	Section 5(a)(vii),	  	All Affiliates.
	Section 5(b)(iv),	  	All Affiliates.

  

	(b)	“Specified Transaction” will have the meaning specified in Section 14 of this Agreement and shall also include any repurchase transactions, reverse
repurchase transactions, buy/sellback transactions and securities lending transactions and any other related OTC transactions now existing or hereafter entered into between one party to this Agreement (or any Credit Support Provider or Specified
Entity of such party) and the other party to this Agreement (or any Credit Support Provider or Specified Entity of such party). 

  

	(c)	The “Cross Default” provisions of Section 5(a)(vi) will not apply to Party A and will apply to Party B. 

 The following provisions apply: 
 “Specified Indebtedness” will have the meaning specified in Section 14 of this Agreement. 
 “Threshold Amount” means the lesser of (i) USD 10 million or (ii) two percent (2%) of the Stockholders’ Equity of Party B, in the case of Party B (or its equivalent in any other currency).

 For purposes hereof, “Stockholders’ Equity” means with respect to an entity, at any time, the sum at such time of
(i) its capital stock (including preferred stock) outstanding, taken at par value, (ii) its capital surplus and (iii) its retained earnings, minus (iv) treasury stock, each to be 

 
determined in accordance with generally accepted accounting principles consistently applied at most recent quarter end. 
  

	(d)	The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will not apply to Party A and will apply to Party B. 

  

	(e)	The “Automatic Early Termination” provision of Section 6(a) will not apply to Party A and will not apply to Party B. 

  

	(f)	Payments on Early Termination. For the purpose of Section 6(e) of this Agreement, Loss and the Second Method will apply. 

  

	(g)	“Termination Currency” means United States Dollars (“USD”). 

  

	(h)	Additional Termination Events will apply. Each of the following shall constitute an Additional Termination Event with respect to which Party B shall be the sole Affected
Party: 

  

	 	(i)	Financial Covenants. AHLHC shall fail to maintain: 

  

	 	(A)	at any time, a minimum Adjusted Tangible Net Worth of at least the sum of (1) $125,000,000 plus (2) 50% of the Net Income of AHLHC for each fiscal quarter in any fiscal
year commencing with the fiscal quarter ending on September 30, 2003, through the applicable date of determination, 

  

	 	(B)	as of the last business day of each fiscal quarter, an Interest Coverage Ratio of at least 1.10:1.0, 

  

	 	(C)	at any time, a ratio of Non-Warehouse Debt to Adjusted Tangible Net Worth that is less than or equal to 2.0:1.0, 

  

	 	(D)	as of the last business day of any month, Unrestricted Cash And Cash Equivalents and available borrowing capacity of at least $20,000,000, which continues uncured for five
(5) business days, or 

  

	 	(E)	at any time, a ratio of Recourse Debt to Tangible Net Worth Ratio that is less than or equal to 17.0:1.0. 

  

	 	(ii)	Net Earnings. AHLHC shall report net earnings for any six rolling calendar months of less than $1.00 on a consolidated basis in accordance with GAAP.

  

	 	(iii)	Workout Agreement Default. An “Event of Default” (as such term is defined in the Workout Agreement) occurs and is continuing. 

  

	 	(iv)	Computer Systems Modification. Within 90 days of the date hereof, Party B shall modify or upgrade its computer systems such that the Seller and the Servicer’s computer
records shall be able to recognize and track the Initial Purchase Price and the Outstanding Purchase Price of Mortgage Loans for which the Swap Counterparty disputes the Initial Purchase Price in accordance with Section 2.2 of the Mortgage Loan
Purchase and Servicing Agreement. 

  

	 	(v)	Change of Control. A Designated Event (as defined below) occurs with respect to Party B. A “Designated Event” means that: 

  

	 	(A)	 Party B or AHLHC dissolves, merges or consolidates with another entity (unless (1) it is the surviving party or (2) the entity into which it merges has
equity and a market 

  

 2 

	 	 
value of at least that of Party B or AHLHC immediately prior to such merger and such entity expressly assumes the obligations of the Party B at the time of
such merger), or sells, transfers, or otherwise disposes of a material portion of its business or assets, other than sales, transfers or dispositions of mortgage loans in the ordinary course of Party B’s or AHLHC’s business;

  

	 	(B)	any Person or entity or any group (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended) of Persons and/or entities, shall have
acquired beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended), directly or indirectly, in one or more transactions, of securities of Party B
(or other securities convertible into such securities) representing more than 50% of the combined voting power of all securities of Party B entitled to vote in the election of directors (other than a Person or entity owning such securities on the
date of this Agreement); or 

  

	 	(C)	Party B shall cease to be a wholly-owned subsidiary of AHLHC. 

  

	 	(vi)	Material Adverse Change. Party B has experienced or is experiencing a material adverse change, determined by Party A in Party A’s sole discretion, in its business,
assets, or operations or financial condition. For the purpose of the foregoing Termination Event, Party B shall be the Affected Party. 

 Capitalized terms used in this Part 1(h) shall have the meanings set forth below: 
 “Adjusted Tangible Net Worth” means, at any date, all amounts that would, in conformity with GAAP, constitute stockholder’s equity included on the consolidated balance sheet of AHLHC plus any preferred stock not
already included in the calculation of stockholders equity plus any indebtedness of AHLHC which is convertible into equity or otherwise fully subordinated to the obligations of Party B under the facility minus any intangibles
(excluding mortgage-related securities and mortgage servicing rights), goodwill and deferred charges as defined under GAAP. 
 “AHLHC” means Accredited Home Lenders Holding Co. and its Subsidiaries on a consolidated basis. 
 “Consolidated Debt” means, at any time, the aggregate principal amount of Indebtedness of AHLHC outstanding at such time as reflected on the consolidated balance sheet of AHLHC, prepared in accordance with GAAP. 

“EBITDA” means, for any period, Net Income for such period on a consolidated basis, plus, without duplication and to
the extent reflected as a charge in the statement of such Net Income for such period, the sum of (a) total income tax expense, (b) interest expense, (c) depreciation and amortization expense, (d) amortization of intangibles
(including, but not limited to, goodwill) and organization costs, (e) any extraordinary expenses or losses (including, whether or not otherwise includable as a separate item in the statement of such Net Income for such period, losses on sales
of assets outside of the ordinary course of business), and (f) any other noncash charges, and minus, to the extent included in the statement of such Net Income for such period, the sum of (a) any extraordinary income or gains (including,
whether or not otherwise includable as a separate item in the statement of such Net Income for such period, gains on the sales of assets outside of the ordinary course of business) and (b) any other noncash income (other than any income
represented by a receivable that in the ordinary course would be expected to be paid in cash), all as determined on a consolidated basis. 
 “Indebtedness of AHLHC” means AHLHC’s (a) obligations for borrowed money, (b) obligations representing the deferred purchase price of property (whether real or personal, tangible or
intangible) or services (other than accounts payable arising in the ordinary course of AHLHC’s business payable on terms customary in the trade), (c) obligations, whether or not assumed, 

  

 3 

 
secured by liens or payable out of the proceeds or production from property now or hereafter owned or acquired by AHLHC, (d) obligations which are
evidenced by notes, acceptances, or similar instruments, (e) capitalized lease obligations, (f) rate hedging obligations, (g) contingent obligations of any type which are reportable on AHLHC’s balance sheet in accordance with
GAAP, (h) obligations for which AHLHC is obligated pursuant to or in respect of a letter of credit or similar instrument and (i) repurchase obligations or liabilities of Party B with respect to accounts or notes receivable and chattel
paper sold by AHLHC. 
 “Interest Coverage Ratio” means, for any applicable computation period, the ratio of
(a) EBITDA to (b) Interest Expense. 
 “Interest Expense” means, for any applicable computation
period, all interest paid or accrued during such period by AHLHC on a consolidated basis, determined in accordance with GAAP. 
 “Net Income” means, for any period, the consolidated net income (or loss) for such period, determined on a consolidated basis in accordance with GAAP. 
 “Non-Warehouse Debt” means, at any time, Consolidated Debt minus Warehouse Debt. 
 “Recourse Debt to Adjusted Tangible Net Worth Ratio” means, at any time, the ratio of (a) Consolidated Debt minus
the liabilities related to securitizations which are accounted for as financings under Financial Accounting Standards Board (FASB) Rule 140 to (b) Adjusted Tangible Net Worth. 
 “Unrestricted Cash and Cash Equivalents” means, as of any date of determination, the sum of (a) the aggregate amount
of unrestricted cash and (b) the aggregate amount of unrestricted cash equivalents (valued at the fair market value). As used in this definition, “Unrestricted” means the specified asset is not subject to any liens or claims of any
kind in favor of any Person. 
 “Warehouse Debt” shall mean Indebtedness of AHLHC, whether or not it is
recourse, that is secured or otherwise backed by Party B’s mortgage loans, mortgage-backed securities or other mortgage assets, and that is used generally by Party B to provide it with financing or liquidity for the origination or acquisition
by it of mortgage loans, mortgage-backed securities or other mortgage assets in Party B’s ordinary course of business. 
 “Workout Agreement” means the Second Amended and Restated Master Repurchase Agreement Governing Purchases and Sales of Mortgage Loans, dated as of January 30, 2004, between Lehman Brothers Bank and Party B, dated as of
the date hereof, as amended from time to time. 
  

	 	(i)	Additional Event of Default. An “Event of Default” with respect to which Party B shall be the Defaulting Party under and as defined in the ISDA Master Agreement,
dated as of the date hereof, between Calyon New York Branch and Party B (as amended from time to time) shall constitute an Event of Default hereunder with respect to Party B as the sole Defaulting Party. 

 Part 2: Tax Representations 
  

	(a)	Payer Tax Representations. For the purpose of Section 3(e) of this Agreement, Party A and Party B will each make the following representation:

 It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any
Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Sections 2(e), 6(d)(ii) or 6(e) of this Agreement) to be made by it to the other party under
this Agreement. In making this 

  

 4 

 
representation, it may rely on (i) the accuracy of any representation made by the other party pursuant to Section 3(f) of this Agreement,
(ii) the satisfaction(s) of the agreement of the other party contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by the other party pursuant to
Section 4(a)(i) or 4(a)(iii) of this Agreement; and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of this Agreement, 
 provided that it shall not be a breach of this representation where reliance is placed on clause (ii) and the other party does not deliver a form or
document under Section 4(a)(iii) of this Agreement by reason of material prejudice to its legal or commercial position. 
  

	(b)	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement: 

  

	 	(i)	Party A represents that it is a corporation duly organized and validly existing under the laws of the State of Delaware. 

  

	 	(ii)	Party B represents that it is a corporation duly organized and validly existing under the laws the State of California and its federal taxpayer identification number is 33-0426859.

 Part 3: Agreement to Deliver Documents 
 For the purpose of Sections 4(a)(i) and (ii) of this Agreement, each party agrees to deliver the following documents, as applicable: 
  

	(a)	Party A and Party B will deliver forms and/or documents described in Section 4(a)(iii) of this Agreement upon reasonable demand by the other party.

  

	(b)	Other documents to be delivered are: 

  

							
	 Party required to
 deliver document
	  	 Form/Document/Certificate
	  	 Date by which
 to be delivered
	  	 Covered by
 Section 3(d)

				
	 Party A and Party B
	  	Incumbency certificate or other evidence reasonably satisfactory to the other party of the authority and genuine signature of the individual signing the Agreement and any Credit Support Document
on behalf of such party to execute the same.	  	Upon execution of this Agreement.	  	Yes
				
	 Party A and Party B
	  	Evidence reasonably satisfactory to the other party of the authority of such party and its Credit Support Provider to enter into the Agreement, any Credit Support Document and each Transaction
entered into hereunder.	  	Upon execution of this Agreement.	  	Yes

  

 5 

							
	 Party required to
 deliver document
	  	 Form/Document/Certificate
	  	 Date by which
 to be delivered
	  	 Covered by
 Section 3(d)

				
	 Party A and Party B
	  	A copy of the annual report (i) in the case of Party A, of its Credit Support Provider and (ii) in the case of Party B, AHLHC, containing audited consolidated financial statements for such
fiscal year certified by independent public accountants and prepared in accordance with generally accepted accounting principles consistently applied.	  	As soon as available and in any event within 90 days of the end of each fiscal year of AHLHC.	  	Yes
				
	 Party A and Party B
	  	For its most recent fiscal quarter, a copy of the unaudited financial statements of (i) in the case of Party A, its Credit Support Provider and (ii) in the case of Party B, AHLHC, prepared in
accordance with generally accepted accounting principles consistently applied.	  	As soon as available and in any event within 60 days of the end of each fiscal quarter of AHLHC.	  	Yes
				
	 Party A and Party B
	  	Any Credit Support Document(s) specified in Part 4 of this Schedule.	  	 Upon execution of this Agreement.
	  	No
				
	 Party A and Party B
	  	An opinion of counsel to Party A and Party B substantially in the form of Exhibit B to this Schedule.	  	 Upon execution of this Agreement.
	  	No
				
	 Party B
	  	All notices, reports, documents, certificates information, statements or instructions required to be delivered to Reference Party A (as defined in the Confirmation) under any Program Documents
and such other documents as Party A may reasonable request from time to time.	  	 Upon request.
	  	Yes

  

 6 

							
	 Party required to
 deliver document
	  	 Form/Document/Certificate
	  	 Date by which
 to be delivered
	  	 Covered by
 Section 3(d)

				
	 Party B
	  	A certificate of an authorized financial officer of Party B certifying that no Additional Termination Event has occurred and the calculations of the financial covenants set forth in Part 1(h)(i)
of this Schedule for said period and the methodology used in computing said financial covenants, in form and detail satisfactory to Party A.	  	Within 30 days after the end of each calendar quarter.	  	Yes

 Part 4: Miscellaneous 
  

	(a)	Addresses for Notices. For the purpose of Section 12(a) of this Agreement: 

 Address for notices or communications to Party A: 
  

			
	Address:	  	Lehman Brothers Special Financing Inc.
		  	c/o Lehman Brothers Inc.
		  	Transaction Management
		  	745 Seventh Avenue, 28th Floor
		
		  	 New York, NY 10019

		
	Attention:	  	 Donald Kutch

	Telephone No.:	  	 (212) 526-5810

	Facsimile No.:	  	 (646) 758-1964

		
		  	 For all purposes.

	
	Address for notices or communications to Party B:
		
	Address:	  	 Accredited Home Lenders, Inc.

		  	 15090 Avenue of Science,

		  	 San Diego, California 92128

		
	Attention:	  	 Katy Hudson

	Telephone No.:	  	 858-676-2177

	Facsimile No.:	  	 866-278-5876

		
		  	 For all purposes.

  

	(b)	Process Agent. For the purpose of Section 13(c) of this Agreement: 

  

			
	Party A appoints as its Process Agent:	  	Not applicable.
	Party B appoints as its Process Agent:	  	Not applicable.

  

	(c)	Offices. The provisions of Section 10(a) will apply to this Agreement. 

  

 7 

	(d)	Multibranch Party. For the purpose of Section 10(c) of this Agreement: 

 Party A is not a Multibranch Party. 
 Party B is not a Multibranch Party. 
  

	(e)	Calculation Agent. The Calculation Agent is Party A. 

  

	(f)	Credit Support Document. Details of any Credit Support Document, each of which is incorporated by reference in, constitutes part of, and is in connection with, this Agreement
and each Confirmation (unless provided otherwise in a Confirmation) as if set forth in full in this Agreement or such Confirmation: 

 In the case of Party A: 
 Guarantee of Party A’s obligations hereunder in the form annexed hereto as Exhibit A to this
Schedule. 
 In the case of Party B: 
 Credit Support Annex annexed hereto which supplements, forms part of, and is subject to, this Agreement and the guaranty issued by Party B’s Credit Support Provider. 
  

	(g)	Credit Support Provider. 

  

			
	Credit Support Provider means in relation to Party A:	 	Lehman Brothers Holdings Inc.
	Credit Support Provider means in relation to Party B:	 	Accredited Home Lenders Co.

  

	(h)	Governing Law. THIS AGREEMENT WILL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAWS PROVISIONS
THEREOF, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

  

	(i)	Netting of Payments. Subparagraph (ii) of Section 2(c) of this Agreement will apply to any Transactions. 

  

	(j)	“Affiliate” will have the meaning specified in Section 14 of this Agreement, provided, however, that with respect to Party A, such definition
shall be understood to exclude Lehman Brothers Derivative Products Inc. and Lehman Brothers Financial Products Inc. 

  

	(k)	Jurisdiction. Section 13(b) is hereby amended by: (i) deleting in the second line of subparagraph (i) thereof the word “non-”; and
(ii) deleting the final paragraph thereof. 

  

 8 

 Part 5: Other Provisions 
  

	(a)	Representations. Section 3 of this Agreement is hereby amended by adding the following additional subsections: 

  

	 	“(g)	No Reliance. It is acting for its own account, and it has made its own independent decisions to enter into that Transaction and as to whether that Transaction
is appropriate or proper for it based upon its own judgment and upon advice from such advisors as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to
enter into that Transaction; it being understood that information and explanations related to the terms and conditions of the Transaction will not be considered investment advice or a recommendation to enter into that Transaction. No communication
(written or oral) received from the other party will be deemed to be an assurance or guarantee as to the expected results of that Transaction. 

  

	 	(h)	Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and
understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction. 

  

	 	(i)	Status of Parties. The other party is not acting as a fiduciary for or an advisor to it in respect of that Transaction. 

  

	 	(j)	No Agency. It is entering into this Agreement, including each Transaction, as principal and not as agent of any person or entity. 

  

	 	(k)	Eligible Contract Participant. It is an “eligible contract participant” within the meaning of Section 1a(12) of the Commodity Exchange Act.”

  

	(b)	Set-off. Section 6 of this Agreement is hereby amended by adding the following new subsection 6(f): 

  

	 	(f)	Set-off. 

  

	 	(i)	In addition to any rights of set-off a party may have as a matter of law or otherwise, upon the occurrence of an Event of Default or an Additional Termination Event and the
designation of an Early Termination Date pursuant to Section 6 of the Agreement with respect to a party (“X”), the other party (“Y”) will have the right (but not be obliged) without prior notice to X or any other
person to set-off or apply any obligation of X owed to Y (and to any Affiliate of Y) (whether or not matured or contingent and whether or not arising under this Agreement, and regardless of the currency, place of payment or booking office of the
obligation) against any obligation of Y (and of any Affiliate of Y) owed to X (whether or not matured or contingent and whether or not arising under this Agreement, and regardless of the currency, place of payment or booking office of the
obligation). 

  

	 	(ii)	If the amount of an obligation is unascertained, Y may in good faith estimate that amount and set-off in respect of the estimate, subject to the relevant party accounting to the
other when the amount of the obligation is ascertained. 

  

	 	(iii)	This clause (f) shall not constitute a mortgage, charge, lien or other security interest upon any of the property or assets of either party to this Agreement.

  

 9 

	(c)	Transfer. Notwithstanding anything to the contrary in Section 7 of this Agreement, Party A may assign its rights and obligations under this Agreement, in whole
and not in part, to any Affiliate of Holdings effective upon delivery to Party B of the guarantee by Holdings, in favor of Party B, of the obligations of such Affiliate, such guarantee to be otherwise identical to the guarantee then in effect of the
obligations of the transferor at the sole expense of Party A. 

  

	(d)	Notices. For the purposes of subsections (iii) and (v) of Section 12(a), the date of receipt shall be presumed to be the date sent if sent
on a Local Business Day or, if not sent on a Local Business Day, the date of receipt shall be presumed to be the first Local Business Day following the date sent. 

  

	(e)	Service of Process. The penultimate sentence of Section 13(c) shall be amended by adding the following language at the end thereof: “if permitted in the
jurisdiction where the proceedings are initiated and in the jurisdiction where service is to be made.” 

  

	(f)	Waiver of Trial By Jury. Insofar as is permitted by law, each party irrevocably waives any and all rights to trial by jury in any legal proceeding in connection with this
Agreement or any Transaction, and acknowledges that this waiver is a material inducement to the other party’s entering into this Agreement and each Transaction hereunder. 

  

	(g)	Accuracy of Specified Information. Section 3(d) is hereby amended by adding in the third line thereof after the word “respect” and before the period the
words “or, in the case of audited or unaudited financial statements or balance sheets, a fair presentation of the financial condition of the relevant person.” 

  

	(h)	Confirmation. Party A and Party B each agrees and acknowledges that the only Transaction that is or will be governed by this Agreement is the Transactions evidenced by the
one Confirmation dated on the date hereof (it being understood that, in the event such Confirmation shall be amended (in any respect), such amendment shall not constitute (for purposes of this paragraph) a separate Transaction or a separate
Confirmation). 

  

	(i)	Severability. Except as otherwise provided in Sections 5(b)(i) or 5(b)(ii) of the Agreement in the event that any one or more of the provisions contained
in this Agreement should be held invalid, illegal, or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby so long as this
Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective
benefits and expectations of the parties to this Agreement. The parties shall endeavor, in good faith negotiations, to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as
possible to that of the invalid, illegal or unenforceable provisions. 

  

	(j)	Consent to Recording. The parties agree that each may electronically record all telephonic conversations between marketing and trading personnel in connection
with this Agreement and that any such recordings may be submitted in evidence in any Proceedings relating to this Agreement. 

  

 10 

 The parties executing this Schedule have executed the Master Agreement and have agreed as to the contents of this
Schedule. 
  

									
	 LEHMAN BROTHERS SPECIAL FINANCING INC.
 (Name of Party)
	 		 	 ACCREDITED HOME LENDERS, INC.
 (Name of Party)

					
	 By:
	 	/s/ Fred Madonna	 		 	 By:
	 	 /s/ Melissa G. Dant

	 Name:
	 	Fred Madonna	 		 	 Name:
	 	 Melissa G. Dant

	 Title:
	 		 		 	 Title:
	 	 Senior Secondary Markets Counsel, AVP & Ass’t Sec’y

  

 EXHIBIT A to Schedule 
 GUARANTEE OF LEHMAN BROTHERS HOLDINGS INC. 
 LEHMAN BROTHERS SPECIAL FINANCING INC.
(“Party A”) and ACCREDITED HOME LENDERS, INC. (“Party B”) have entered into a Master Agreement dated as of May 10, 2005 (the “Master Agreement”), pursuant to which Party A and Party B have entered and/or
anticipate entering into one or more transactions (each a “Transaction”), the Confirmation of each of which supplements, forms part of, and will be read and construed as one with, the Master Agreement (collectively referred to as the
“Agreement”). This Guarantee is a Credit Support Document as contemplated in the Agreement. For value received, and in consideration of the financial accommodation accorded to Party A by Party B under the Agreement, LEHMAN BROTHERS
HOLDINGS INC., a corporation organized and existing under the laws of the State of Delaware (“Guarantor”), hereby agrees to the following: 
 (a) Guarantor hereby unconditionally guarantees to Party B the due and punctual payment of all amounts payable by Party A under each Transaction when and as Party A’s obligations thereunder shall become due and
payable in accordance with the terms of the Agreement. In case of the failure of Party A to pay punctually any such amounts, Guarantor hereby agrees, upon written demand by Party B, to pay or cause to be paid any such amounts punctually when and as
the same shall become due and payable. 
 (b) Guarantor hereby agrees that its obligations under this Guarantee constitute a guarantee of
payment when due and not of collection. 
 (c) Guarantor hereby agrees that its obligations under this Guarantee shall be unconditional,
irrespective of the validity, regularity or enforceability of the Agreement against Party A (other than as a result of the unenforceability thereof against Party B), the absence of any action to enforce Party A’s obligations under the
Agreement, any waiver or consent by Party B with respect to any provisions thereof, the entry by Party A and Party B into additional Transactions under the Agreement or any other circumstance which might otherwise constitute a legal or equitable
discharge or defense of a guarantor (excluding the defense of payment or statute of limitations, neither of which is waived) provided, however, that Guarantor shall be entitled to exercise any right that Party A could have exercised under the
Agreement to cure any default in respect of its obligations under the Agreement or to setoff, counterclaim or withhold payment in respect of any Event of Default or Potential Event of Default in respect of Party B or any Affiliate, but only to the
extent such right is provided to Party A under the Agreement. The Guarantor acknowledges that Party A and Party B may from time to time enter into one or more Transactions pursuant to the Agreement and agrees that the obligations of the Guarantor
under this Guarantee will upon the execution of any such Transaction by Party A and Party B extend to all such Transactions without the taking of further action by the Guarantor. 
 (d) This Guarantee shall remain in full force and effect until such time as Party B shall receive written notice of termination. Termination of this
Guarantee shall not affect Guarantor’s liability hereunder as to obligations incurred or arising out of Transactions entered into prior to the termination hereof. 
 (e) Guarantor further agrees that this Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligation or interest thereon is rescinded or
must otherwise be restored by Party B upon an Event of Default as set forth in Section 5(a)(vii) of the Master Agreement affecting Party A or Guarantor. 
 (f) Guarantor hereby waives (i) promptness, diligence, presentment, demand of payment, protest, order and, except as set forth in paragraph (a) hereof, notice of any kind in connection with the Agreement and
this Guarantee, or (ii) any requirement that Party B exhaust any right to take any action against Party A or any other person prior to or contemporaneously with proceeding to exercise any right against Guarantor under this Guarantee.

  

 2 

 This Guarantee shall be governed by and construed in accordance with the laws of the State of New York,
without reference to choice of law doctrine. All capitalized terms not defined in this Guarantee, but defined in the Agreement, shall have the meanings assigned thereto in the Agreement. 
 Any notice hereunder will be sufficiently given if given in accordance with the provisions for notices under the Agreement and will be effective as set
forth therein. All notices hereunder shall be delivered to Lehman Brothers Holdings Inc., Attention: Corporate Counsel, 399 Park Avenue, 11th Floor, New York, NY 10022 USA (Facsimile No. (212) 526-0339) with a copy to Lehman Brothers Special Financing Inc., Attention: Transaction Management, 745 Seventh Avenue, 28th Floor, New York, NY 10019 USA. 

 

 3 

 IN WITNESS WHEREOF, Guarantor has caused this Guarantee to be executed in its corporate name by its duly
authorized officer as of the date of the Agreement. 
  

			
	LEHMAN BROTHERS HOLDINGS INC.
		
	 By:
	 	  
	 Name:
	 	 Thomas J. O’Hara

	 Title:
	 	 Senior Vice President

	 Date:
	 	

 EXHIBIT B to Schedule 
 [Form of Opinion of Counsel] 
  

					
		 		 	[Date]

 [Other Counterparty] 
 Ladies and Gentlemen: 
 I have acted as counsel to [counterparty], a
[                    ] corporation (“Party [A][B]”), and am familiar with matters pertaining to the execution and delivery of the
Master Agreement (the “Master Agreement”) dated as of [date] between Accredited Home Lenders, Inc. (“Party B”) and Lehman Brothers Special Financing Inc. (“Party A”). 
 In connection with this opinion, I have examined, or have had examined on my behalf, an executed copy of the Master Agreement, certificates and
statements of public officials and officers of Party B and such other agreements, instruments, documents and records as I have deemed necessary or appropriate for the purposes of this opinion. 
 Based on the foregoing but subject to the assumptions, exceptions, qualifications and limitations hereinafter expressed, I am of the opinion that:

  

	 	1.	Party B is a corporation duly incorporated, validly existing and in good standing under the laws of
[            ]. 

  

	 	2.	The execution, delivery and performance of the Master Agreement, by or on behalf of Party B, are within its corporate power, have been duly authorized by all corporate action and do
not conflict with any provision of its certificate of incorporation or by-laws. 

  

	 	3.	The Master Agreement has been duly executed and delivered by Party B and constitutes a legal, valid and binding obligation, enforceable against it in accordance with its terms.

  

	 	4.	To the best of my knowledge no consent, authorization, license or approval of or registration or declaration with, any governmental authority is required in connection with the
execution, delivery and performance of the Master Agreement by Party [A][B]. 

 The foregoing opinions are subject to the
following assumptions, exceptions, qualifications and limitations: 
 A. My opinion in paragraph 3 above is subject to (i) the effect of
any bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors rights generally (including, without limitation, the effect of statutory or other laws regarding fraudulent or other similar transfers),
(ii) general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law, (iii) the equitable discretion of the court before which any proceeding therefor may be brought, (iv) the
application of judicial decisions involving statutes or principles of equity which have held that certain covenants and other provisions of agreements, including those providing for the acceleration of obligations upon the occurrence of events
therein described, are unenforceable in circumstances where it can be demonstrated that the enforcement of such provisions is not reasonably necessary for the protection of the party invoking the right to accelerate, (v) such requirements of
good 

  

 2 

 
faith, fair dealing and commercial reasonableness as may be imposed by the law of the State of New York on the exercise by a party of its contractual rights
and remedies, (vi) possible judicial application of foreign laws or foreign government actions affecting creditors’ rights, and (v) the validity, binding effect or enforceability, under certain circumstances, of contractual provisions
with respect to indemnification or waiving defenses to obligations where such indemnification or such waivers are against public policy. 
 B. I am qualified to practice law in [            ] and render no opinion on the laws of any jurisdiction other than the laws of
[            ]. 
 C. My opinions are limited to the present laws and to
the facts as they presently exist. I assume no obligation to revise or supplement this opinion should the present laws of the jurisdictions referred to in paragraph B above be changed by legislative action, judicial decision or otherwise.

 D. This letter is rendered to you in connection with the Master Agreement [and the Guarantee] and the transactions related thereto and may
not be relied upon by any other person or by you in any other context or for any other purpose. This letter may not be quoted in whole or in part, nor may copies thereof be furnished or delivered to any other person, without the prior written
consent of Party B, except that you may furnish copies hereof (i) to your independent auditors and attorneys, (ii) to any state or local authority having jurisdiction over you or over Party [A][B], (iii) pursuant to the order of any
legal process of any court of competent jurisdiction or any governmental agency, and (iv) in connection with any legal action arising out of the Master Agreement. 
 E. I have assumed with your permission (i) the genuineness of all signatures by each party other than Party B, (ii) the authenticity of documents submitted to me as originals and the conformity to authentic
original documents of all documents submitted to me as copies, and (iii) the due execution and delivery, pursuant to due authorization, of the Master Agreement by each party other than Party B. 
 F. I have also assumed for the purpose of this opinion that the Master Agreement constitute the legal valid and binding obligation of Party [A][B] in
accordance with New York law by which is governed. 
 G. I express no opinion as to the prohibition on transfers in Section 7(a) of the
Master Agreement Terms in any case in which its operation would conflict with Section 9-406 or Section 9-408 of the Uniform Commercial Code as in effect in the State of New York. 
 Very truly yours, 
  

 3ISDA Credit Support Annex - Lehman Brothers

 Exhibit 4.17 
 

 
 International Swaps and Derivatives Association, Inc. 
 CREDIT SUPPORT ANNEX 
 to the Schedule
to the 
 Master Agreement 
 dated as of May 10, 2005 
 between 
  

			
	LEHMAN BROTHERS SPECIAL FINANCING INC.	 	ACCREDITED HOME LENDERS, INC.
	(“Party A”)	 	(“Party B”)

 This Annex supplements, forms part of, and is subject to, the above-referenced Agreement, is part of its Schedule
and is a Credit Support Document under this Agreement with respect to each party. 
 Accordingly, the parties agree as
follows: 
 Paragraph 1. Interpretation 
 (a)
Definitions and Inconsistency. Capitalized terms not otherwise defined herein or elsewhere in this Agreement have the meanings specified pursuant to Paragraph 12, and all references in this Annex to Paragraphs are to Paragraphs of this
Annex. In the event of any inconsistency between this Annex and the other provisions of this Schedule, this Annex will prevail and in the event of any inconsistency between Paragraph 13 and the other provisions of this Annex, Paragraph 13 will
prevail. 
 (b) Secured Party and Pledgor. All references in this Annex to the “Secured Party” will be to either party when acting in
that capacity and all corresponding references to the “Pledgor” will be to the other party when acting in that capacity; provided, however, that if Other Posted Support is held by a party to this Annex, all references herein to that
party as the Secured Party with respect to that Other Posted Support will be to that party as the beneficiary thereof and will not subject that support or that party as the beneficiary thereof to provisions of law generally relating to security
interests and secured parties. 
 Paragraph 2. Security Interest 
 Each party, as the Pledgor, hereby pledges to the other party, as the Secured Party, as security for its Obligations, and grants to the Secured Party a first priority continuing security interest in, lien on and right of Set-off against all
Posted Collateral Transferred to or received by the Secured Party hereunder. Upon the Transfer by the Secured Party to the Pledgor of Posted Collateral, the security interest and lien granted hereunder on that Posted Collateral will be released
immediately and, to the extent possible, without further action by either party. 
 Copyright © 1994 by International Swaps and Derivatives Association, Inc. 

 CREDIT SUPPORT ANNEX 
 Elections and Variables 
 dated as of May 10, 2005 
 between 
 LEHMAN BROTHERS SPECIAL FINANCING
INC. 
 (hereinafter referred to as either “Party A” or “Secured Party”) 
 and 
 ACCREDITED HOME LENDERS, INC.

 (hereinafter referred to as either “Party B” or “Pledgor”) 
 Paragraph 13. Elections and Variables 
  

	(a)	Security Interest for “Obligations”. The term “Obligations” as used in this Annex includes the following additional obligations: None.

  

	(b)	Credit Support Obligations.  

  

	 	(i)	Delivery Amount, Return Amount and Credit Support Amount 

  

	 	(1)	“Delivery Amount” has the meaning specified in Paragraph 3(a). 

  

	 	(2)	“Return Amount” has the meaning specified in Paragraph 3(b). 

  

	 	(3)	“Credit Support Amount” has the meaning specified in Paragraph 3; provided, however, that in the event that the sum of the Independent Amounts applicable to Pledgor
exceed zero, the Credit Support Amount will not be less than the sum of all Independent Amounts applicable to the Pledgor. 

  

	 	(ii)	Eligible Collateral. The following items will qualify as “Eligible Collateral” for the party specified: 

  

								
	 	  	 	  	Party B	  	Valuation
Percentage	 
				
	(1)	  	Cash, in the form of USD.	  	x	  	100	%
				
	(2)	  	negotiable debt obligations issued by the U.S. Treasury Department having a maturity at issuance of not more than one year.	  	x	  	99	%
				
	(3)	  	negotiable debt obligations issued by the U.S. Treasury Department having a maturity at issuance of more than one year but not more than ten years.	  	x	  	98	%
				
	(4)	  	negotiable debt obligations issued by the U.S. Treasury Department having a maturity at issuance of more than ten years.	  	x	  	97	%
				
	(5)	  	negotiable debt obligations which are fully guaranteed as to both principal and interest by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation that are
not pass-through, multi-class or multi- branch securities or paying interest only or principal only.	  	x	  	95	%
				
	(6)	  	Other securities acceptable to the secured party: None, unless otherwise specified in the relevant Confirmation.	  	x	  	As determined
by Valuation
Agent	 
 
 

  

 11 

	 	(iii)	Other Eligible Support. The following items will qualify as “Other Eligible Support” for the party specified: Mortgage Loans that satisfy the Eligibility
Criteria with a Valuation Percentage to be determined by the Valuation Agent in its sole discretion. Such Other Eligible Support is hereby subject to the security interest granted pursuant to Paragraph 2 hereof. 

  

	 	(iv)	Thresholds. 

  

	 	(1)	“Independent Amount” shall mean with respect to Party B, all Hedges and shall not be subject to Minimum Transfer Amount. 

 “Hedge” shall mean the rights (but not the obligations) of Party B with respect to any transaction now existing or hereinafter entered
into between Party B (or any Credit Support Provider of such party) and any counterparty which is an option of any type, swaption, rate swap transaction, basis swap, forward rate transaction, equity swap, foreign exchange transaction, cap
transaction, floor transaction, collar transaction, currency swap transaction, repurchase agreement, reverse repurchase agreement, total return swap, credit default swap or any similar transaction or other financial instrument or interest (including
any option with respect to any of these transactions), that relate to the Mortgage Loans, including without limitation those listed on a schedule delivered by Party B to Party A as amended from time to time. 
 “Specialist Account” shall mean the account(s) held at R.J. O’Brien. 
  

	 	(2)	“Threshold” means, with respect to Party A, infinite; with respect to Party B shall be USD 50,000; provided that, if an Event of Default or Additional
Termination Event has occurred and is continuing with respect to Party B, then the Threshold with respect to Party B shall be zero. 

  

	 	(3)	“Minimum Transfer Amount” means, with respect to a party, USD 250,000; provided that, notwithstanding anything to the contrary contained herein, the Minimum
Transfer Amount shall not apply to the Independent Amount, and provided further that, if an Event of Default or Additional Termination Event has occurred and is continuing with respect to Party B, then the Minimum Transfer Amount with respect
to Party B shall be zero. 

  

	 	(4)	Rounding. The Delivery Amount and the Return Amount shall be rounded up and down respectively to the nearest integral multiple of USD 1,000. 

  

	(c)	Valuation and Timing.  

  

	 	(i)	“Valuation Agent” means Party A. 

  

	 	(ii)	“Valuation Date” means any Local Business Day. 

  

	 	(iii)	“Valuation Time” means the close of business in the location where the relevant product is traded, provided that the calculations of Value and Exposure will be made
as of approximately the same time on the same date. 

  

	 	(iv)	“Notification Time” means by 1:00 p.m., New York time, on a Local Business Day. 

  

	(d)	Conditions Precedent and Secured Party’s Rights and Remedies. The following Termination Event(s) will be a “Specified Condition” for the party specified (that
party being the Affected Party if the Termination Event occurs with respect to that party): 

  

			
	 	  	Party B
		
	 Illegality
	  	x
	 Tax Event
	  	x
	 Tax Event Upon Merger
	  	x
	 Credit Event Upon Merger
	  	x
	 Additional Termination Event(s): as set forth in Part 1 (h)
	  	x

  

 12 

	(e)	Substitution.  

  

	 	(i)	“Substitution Date” has the meaning specified in Paragraph 4(d)(ii). 

  

	 	(ii)	Consent. The Pledgor need not obtain the Secured Party's consent for any substitution pursuant to 

 Paragraph 4(d). 
  

	(f)	Dispute Resolution  

  

	 	(i)	“Resolution Time” means 1:00 p.m., New York time, on the Local Business Day following the date on which notice is given that gives rise to a dispute.

  

	 	(ii)	Value. For the purpose of Paragraph 5(i)(c) and 5(ii), the Value of Posted Credit Support other than Cash will be calculated as follows: 

 With respect to any Eligible Collateral in the form of securities listed in Paragraph 13(b)(ii) (referred to herein as “Collateral Obligations”)
the sum of (1) (x) the bid price quoted on such date by a principal market maker for such Collateral Obligations selected by the Valuation Agent, or (y) if no such quotation is available from a principal market maker for such date,
such bid price as of the day, next preceding such date, on which such quotation was available, in either case multiplied by the applicable Valuation Percentage, plus (2) the accrued interest on such Collateral Obligations (except to the extent
Transferred to a party pursuant to any applicable section of this Agreement or included in the applicable price referred to in (1) of this clause) as of such date. 
  

	 	(iii)	Alternative. Paragraph 5 will apply with the following modification. Paragraph 5 is hereby amended by adding in the sixth line the words “the disputed amount and”
before the words “the undisputed amount”. 

  

	(g)	Holding and Using Posted Collateral. 

  

	 	(i)	Eligibility to Hold Posted Collateral; Custodians.  

 Party A and/or its Custodian or Collateral Agent will be entitled to hold Posted Collateral pursuant to Paragraph 6(b), provided that the following conditions applicable to it are satisfied: 
  

	 	(1)	Party A is not a Defaulting Party. 

  

	 	(2)	The Custodian or Collateral Agent, if any, is a wholly owned, direct or indirect, subsidiary of Lehman Brothers Holdings Inc. or a bank or trust company located in the United States
or having a branch in the United States having total assets of at least USD 1 billion. 

 Initially, the Custodian for
Party A is: Not applicable. 
 Initially, the Collateral Agent for Party A is Lehman Brothers Special Financing Inc. and, thereafter, its
successors as appointed under the Collateral Agency and Intercreditor Agreement, dated as of the date hereof, as amended from time to time. 
  

	 	(ii)	Use of Posted Collateral. The provisions of Paragraph 6(c) will apply to Party A. 

  

	(h)	Distributions and Interest Amount.  

  

	 	(i)	Interest Rate. Subject to subparagraph (iii) below, the Interest Rate will be the Federal Funds Rate. “Federal Funds Rate” means the rate per annum equal to
the overnight Federal Funds Rate for each day Cash is held by the Secured Party as reported in Federal Reserve Publication H.15-519. 

  

	 	(ii)	Transfer of Interest Amount. Except as set forth in subparagraph (iii) below, the Transfer of the Interest Amount will be made on the first Local Business Day of each
calendar month and on any Local Business Day that Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b). The Interest Amount will constitute Posted Collateral and will be subject to the security interest
granted under Paragraph 2. 

  

	 	(iii)	Alternative to Interest Amount. Paragraph 6(d)(ii) will apply. 

  

 13 

	(i)	Additional Representation(s). Not applicable. 

  

	(j)	“Other Eligible Support and Other Posted Support.”  

  

	 	(i)	“Value” with respect to Other Eligible Support and Other Posted Support means: As determined by the Valuation Agent in its sole discretion.

  

	 	(ii)	“Transfer” with respect to Other Eligible Support and Other Posted Support means: As determined by the Valuation Agent in its sole discretion.

  

	(k)	Demands and Notices. All demands, specifications and notices made by a party to this Annex will be made pursuant to Section 12 (Notices) of this Agreement unless
otherwise notified from time to time. 

  

	(l)	Addresses for Transfers. 

 Party A: As agreed
between the parties from time to time. 
 Party B: As agreed between the parties from time to time. 
  

	(m)	Other Provisions. 

  

	 	(i)	No Disposition. Without the prior written consent of Secured Party, Pledgor agrees that it will not sell, assign, transfer, exchange or otherwise dispose of, or grant any
option with respect to, Posted Collateral, nor will it create, incur or permit to exist any pledge, lien, mortgage, hypothecation, security interest, charge, option or any other encumbrance with respect to any of the Posted Collateral, or any
interest therein, or any proceeds thereof, except for the lien and security interest provided for by this Annex. 

  

	 	(ii)	Agreement as to Single Secured Party and Pledgor. Party A and Party B agree that, notwithstanding anything to the contrary in the recital to this Annex, Paragraph 1(b) or
Paragraph 2 or the definitions in Paragraph 12, (a) the term “Secured Party” as used in this Annex means only Party A, (b) the term “Pledgor” as used in this Annex means only Party B, (c) only Party B
makes the pledge and grant in Paragraph 2, the acknowledgment in the final sentence of Paragraph 8(a) and the representations in Paragraph 9 and (d) only Party B will be required to make transfers of Eligible Credit Support hereunder.

  

	 	(iii)	This Credit Support Annex is a Security Agreement under the New York UCC. 

  

	 	(iv)	Specialist Account. Party B shall not grant any security interest in, grant “control” (as such term is defined in Article 8 of the applicable Uniform Commercial
Code) of, or permit to exist any adverse claim on, the Specialist Account without the prior written consent of Party A. 

  

	 	(v)	Certain Amendment. Paragraph 2 shall be further amended by adding the words “and Other Posted Support” after each reference to the words “Posted
Collateral” in the third and fourth lines. For purposes of Paragraph 2 hereof, Hedges shall be deemed to be included in the definition of Posted Collateral. 

  

	 	(vi)	Grace Period. Clause (i) of Paragraph 7 is hereby amended by deleting the words “two Local Business Days” and substituting therefore “one Local
Business Day”. 

  

	 	(vii)	The definition of “Exposure” is this Annex hereby amended as follows: 

 “Exposure” means, for any Valuation Date or other date of determination, the greater of (i) the excess of the Outstanding Purchase Price over the sum of (A) the Current Market Value and
(B) the Market Value Reserve Available Amount and (ii) zero. 
 “Current Market Value” means, for any date of
determination, the current market value of Mortgage Loans owned by the Issuer as determined by Party A in its sole and absolute discretion multiplied by 98%. For the avoidance of doubt, (i) the market value of any Mortgage Loan that
(A) has become 60 days delinquent shall be zero, (ii) to the extent that the aggregate Outstanding Purchase Prices of ICU-4 Loans (other than 90 Day ICU-4 Loans) exceeds the greater of (A) 5% 

  

 14 

 
of the aggregate Outstanding Purchase Prices of the Mortgage Loans owned by the Issuer at such time and (B) $25,000,000, the current market value of the
ICU-4 Loans (other than the 90 Day ICU-4 Loans) in excess of such limit shall be zero, and (iii) the market value of any 90 Day ICU-4 Loan shall be zero. 
 “90 Day ICU-4 Loan” means any ICU-4 Loan that has been owned by the Issuer for 90 days since it became an ICU-4 Loan. 
 “ICU-4 Loan” means any Mortgage Loan owned by the Issuer that is not a Defaulted Loan or Delinquent Loan that has not been sold by the Issuer after four attempts by the Servicer to sell such Mortgage
Loan or otherwise is included on Party B’s internal ICU-4 report in accordance with the Servicer’s customary servicing procedures. 
  

	 	(viii) 	Party B shall, at any time and from time to time during regular business hours, as requested by Party A upon two Business Days’ notice, permit Party A, or its agents or
representatives, (A) to examine and make copies of and take abstracts from all books, records and documents including computer tapes and disks relating to the Mortgage Loans owned by the Issuer, including the Loan Documents and (B) to
visit the offices and properties of Party B for the purpose of examining such materials described in clause (A), and to discuss matters relating to the Mortgage Loans with any of the officers, directors, employees or independent public accountants
of Party B having knowledge of such matters at the expense of Party B, provided that if no Early Accumulation Event, Extended Note Amortization Event or has occurred, the Servicer shall only be required to pay out-of-pocket expenses not in excess of
$100,000 during any calendar year. 

  

	 	(ix)	Capitalized terms used herein and not otherwise defined shall have the meanings signed to such terms in the Security Agreement, dated as of the date hereof between Carmel Mountain
Funding Trust , as Issuer, and Deutsche Bank Trust Company Americas, as Collateral Agent, as amended from time to time. 

  

 15 

 The parties executing this Credit Support Annex have executed the Master Agreement and have agreed as to
the contents of this Credit Support Annex. 
  

									
	 LEHMAN BROTHERS SPECIAL FINANCING INC.
 (Party A)
	 		 	 ACCREDITED HOME LENDERS, INC.
 (Party B)

					
	 By:
	 	 /s/ Illegible
	 		 	 By:
	 	 /s/ Melissa G. Dant

	 Name:
	 		 		 	 Name:
	 	 Melissa G. Dant

	 Title:
	 		 		 	 Title:
	 	 Senior Secondary Market s Counsel, AVP & Ass’t Sec’y

	 Date:
	 		 		 	 Date:
	 	

  

 7

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