Document:

EXHIBIT 10.15

 

EXECUTION COPY

 

ASSIGNMENT OF REPRESENTATIONS AND WARRANTIES
AGREEMENT

 

This is an Assignment
of Representations and Warranties Agreement (the “Agreement”) made as of the 30th day of October, 2012, among Redwood
Residential Acquisition Corporation, a Delaware corporation (“Assignor”), Sequoia Residential Funding, Inc., a Delaware
corporation (“Depositor”), Christiana Trust, a division of Wilmington Savings Fund Society, FSB, a federal savings
bank, not in its individual capacity but solely as trustee (in such capacity, the “Trustee” or the “Assignee”)
under a Pooling and Servicing Agreement dated as of October 1, 2012 (the “Pooling and Servicing Agreement”), and Cornerstone
Mortgage Company, a Texas corporation (“Cornerstone”).

 

In consideration of
the mutual promises contained herein, the parties hereto agree that the mortgage loans (the “Mortgage Loans”) listed
on Attachment 1 annexed hereto (the “Mortgage Loan Schedule”) are subject to the terms of the Flow Mortgage Loan Purchase
and Sale Agreement dated as of September 1, 2011, between Assignor and Cornerstone (the “Purchase Agreement”) as modified
or supplemented by this Agreement. Unless otherwise specified herein, capitalized terms used herein but not defined shall have
the meanings ascribed to them in the Purchase Agreement. Assignor will sell the Mortgage Loans to Depositor pursuant to a Mortgage
Loan Purchase and Sale Agreement dated the date hereof, and Depositor will sell the Mortgage Loans to Assignee pursuant to the
Pooling and Servicing Agreement.

 

Assignment 

 

1.           Assignor
hereby grants, transfers and assigns to Depositor all of its right, title and interest in, to and under the representations and
warranties made by Cornerstone pursuant to the Purchase Agreement to the extent relating to the Mortgage Loans, and Depositor hereby
accepts such assignment from Assignor.

 

2.           Depositor
hereby grants, transfers and assigns to Assignee all of its right, title and interest in, to and under the representations and
warranties made by Cornerstone pursuant to the Purchase Agreement to the extent relating to the Mortgage Loans, Depositor is released
from all obligations under the Purchase Agreement, and Assignee hereby accepts such assignment from Depositor.

 

3.           Cornerstone hereby acknowledges
the foregoing assignments.

 

Representations and Warranties

 

4.           Assignor
warrants and represents to, and covenants with, Depositor, Assignee and Cornerstone as of the date hereof that:

 

    	 

    	 

    

 

(a)          Attached
hereto as Attachment 2 is a true and accurate copy of the Purchase Agreement, which agreement is in full force and effect as of
the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice of termination
been given thereunder;

 

(b)          Assignor
is the lawful owner of its interests and rights under the Purchase Agreement to the extent of the Mortgage Loans, free and clear
from any and all claims and encumbrances whatsoever, and upon the transfer of the representations and warranties to Assignee as
contemplated herein, Assignee shall have good title to such representations and warranties under the Purchase Agreement to the
extent of the Mortgage Loans, free and clear of all liens, claims and encumbrances;

 

(c)          There
are no offsets, counterclaims or other defenses available to Cornerstone with respect to the Purchase Agreement;

 

(d)          Assignor
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite
power and authority to enter into and perform its obligations under the Purchase Agreement;

 

(e)          Assignor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Assignor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of
Assignor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Assignor is now
a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which Assignor
or its property is subject. The execution, delivery and performance by Assignor of this Agreement and the consummation by it of
the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of Assignor. This
Agreement has been duly executed and delivered by Assignor and, upon the due authorization, execution and delivery by Assignee,
will constitute the valid and legally binding obligation of Assignor enforceable against Assignor in accordance with its terms
except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter
in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability
is considered in a proceeding in equity or at law; and

 

(f)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Assignor in connection with the execution, delivery or performance by Assignor of this Agreement, or
the consummation by it of the transactions contemplated hereby.

 

5.           Depositor
warrants and represents to, and covenants with, Assignor, Assignee and Cornerstone that as of the date hereof:

 

(a)          Depositor
is a Delaware corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation;

 

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(b)          Depositor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Depositor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of Depositor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Depositor is
now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
Depositor or its property is subject. The execution, delivery and performance by Depositor of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Depositor.
This Agreement has been duly executed and delivered by Depositor and, upon the due authorization, execution and delivery by the
other parties hereto, will constitute the valid and legally binding obligation of Depositor enforceable against Depositor in accordance
with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws
now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether
enforceability is considered in a proceeding in equity or at law; and

 

(c)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Depositor in connection with the execution, delivery or performance by Depositor of this Agreement, or
the consummation by it of the transactions contemplated hereby other than any that have been obtained or made.

 

6.           Assignee
warrants and represents to, and covenants with, Assignor, Depositor and Cornerstone that as of the date hereof:

 

(a)          Assignee
is a federal savings bank duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization;
and

 

(b)          Assignee
has been directed to enter into this Agreement pursuant to the provisions of the Pooling and Servicing Agreement. The execution,
delivery and performance by Assignee of this Agreement and the consummation by it of the transactions contemplated hereby, have
been duly authorized by all necessary action on part of Assignee. This Agreement has been duly executed and delivered by Assignee
and, upon the due authorization, execution and delivery by the other parties hereto, will constitute the valid and legally binding
obligation of Assignee enforceable against Assignee in accordance with its terms except as enforceability may be limited by bankruptcy,
reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally,
and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law.

 

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7.           Cornerstone
warrants and represents to, and covenants with, Assignor, Depositor and Assignee as of the date hereof that:

 

(a)          Attached
hereto as Attachment 2 is a true and accurate copy of the Purchase Agreement, which agreement is in full force and effect as of
the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice of termination
been given thereunder;

 

(b)          Cornerstone
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite
power and authority to perform its obligations under the Purchase Agreement;

 

(c)          Cornerstone
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Cornerstone’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of Cornerstone’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Cornerstone
is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
Cornerstone or its property is subject. The execution, delivery and performance by Cornerstone of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Cornerstone.
This Agreement has been duly executed and delivered by Cornerstone and, upon the due authorization, execution and delivery by Assignor,
Assignee and the Depositor, will constitute the valid and legally binding obligation of Cornerstone enforceable against Cornerstone
in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other
similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless
of whether enforceability is considered in a proceeding in equity or at law; and

 

(d)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Cornerstone in connection with the execution, delivery or performance by Cornerstone of this Agreement,
or the consummation by it of the transactions contemplated hereby.

 

Restated Cornerstone Representations
and Warranties

 

8.           Pursuant
to Section 32(d) of the Purchase Agreement, Cornerstone hereby restates to Depositor and Assignee (a) the representations and warranties
set forth in Subsection 7.01 of the Purchase Agreement as of the related Closing Date and (b) the representations and warranties
set forth in Subsection 7.02 of the Purchase Agreement as of the date hereof, as if such representations and warranties were set
forth herein in full.

 

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In the event of a breach
of any representations and warranties referred to in clauses (a) or (b) above as of the related Closing Date or the date hereof,
as the case may be, Assignee shall be entitled to all the remedies under the Purchase Agreement, including, without limitation,
the right to compel Cornerstone to repurchase Mortgage Loans pursuant to Section 7.03 of the Purchase Agreement, subject to the
provisions of Section 10.

 

Recognition of Assignee

 

9.           From
and after the date hereof, subject to Section 10 below, Cornerstone shall recognize Assignee as owner of the Mortgage Loans and
will perform its obligations hereunder for the benefit of the Assignee in accordance with the Purchase Agreement, as modified hereby
or as may be amended from time to time, as if Assignee and Cornerstone had entered into a separate purchase agreement for the purchase
of the Mortgage Loans in the form of the Purchase Agreement, the terms of which are incorporated herein by reference, as amended
by this Agreement.

 

 

Enforcement of Rights 

 

10.          (a)          Controlling
Holder Rights. Cornerstone agrees and acknowledges that Sequoia Mortgage Funding Corporation, an Affiliate of the Depositor,
in its capacity as the initial Controlling Holder pursuant to the Pooling and Servicing Agreement, and for so long as it is the
Controlling Holder, will exercise all of Assignee's rights as Purchaser under the following section of the Purchase Agreement:

 

Purchase
Agreement:

 

	Section or
    Subsection	 	Matter
	 	 	 
	7.03, other than 7.03(c)	 	
        Repurchase and Substitution

        

  

(b)          If
there is no Controlling Holder under the Pooling and Servicing Agreement, then all rights that are to be exercised by the Controlling
Holder pursuant to Section 10(a) shall be exercised by Assignee.

 

Amendments to Purchase Agreement

 

11.          The
parties agree that the Purchase Agreement shall be amended, solely with respect to the Mortgage Loans, as follows:

 

(a)          Definitions.

 

(i)          The
definitions of “Business Day” and “Repurchase Price” set forth in Section 1 of the Purchase Agreement shall
be deleted and replaced in their entirety as follows:

 

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Business
Day: Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in the states of California, Delaware, Maryland, Minnesota,
Missouri or New York, (iii) a day on which banks in the states of California, Delaware, Maryland, Minnesota, Missouri or New York,
are authorized or obligated by law or executive order to be closed or (iv) a day on which the New York Stock Exchange or the Federal
Reserve Bank of New York is closed.         

 

Repurchase
Price: With respect to any Mortgage Loan, a price equal to (i) the unpaid principal balance of the Mortgage Loan, plus (ii) interest
on such unpaid principal balance at the related Mortgage Interest Rate from the last date through which interest was last paid
by or on behalf of the Mortgagor to the last day of the month in which such repurchase occurs, plus (iii) reasonable and customary
third party expenses incurred in connection with the transfer of the Mortgage Loan being repurchased, minus (iv) any amounts received
in respect of such repurchased Mortgage Loan and being held for future distribution in connection with such Mortgage Loan.

 

(b)          The
following sentence shall be added as the new third sentence of Subsection 7.03(a):

 

Each determination as to whether
there has been such a breach shall be conducted on a Mortgage Loan-by-Mortgage Loan basis.

 

(c)          The
rights under the Purchase Agreement assigned to the Depositor and the Assignee pursuant to this Agreement shall be under the Purchase
Agreement as amended by this Agreement.

 

Miscellaneous

 

12.          All
demands, notices and communications related to the Mortgage Loans, the Purchase Agreement and this Agreement shall be in writing
and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid, as follows:

 

(a)           In
the case of Cornerstone,

 

Cornerstone Mortgage
Company

1177 West Loop South
Suite 200

Houston, Texas 77027

Attention: Daniel Cooper

 

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(b)           In
the case of Assignee,

 

Christiana Trust, a division
of Wilmington Savings Fund Society, FSB

500 Delaware Avenue,
11th Floor

Wilmington, Delaware,
19801

Attention: Corporate
Trust - Sequoia Mortgage Trust 2012-5

 

(c)           In
the case of Depositor,

 

Sequoia Residential Funding,
Inc.

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

(d)          In
the case of Assignor,

 

Redwood Residential Acquisition
Corporation

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

(e)          In
the case of Master Servicer,

 

Wells Fargo Bank,
N.A.

9062 Old Annapolis
Road

Columbia, Maryland
21045)

Telephone number:
(410) 884-2000

Facsimile number:
(410) 715-2380

Attention: Client
Manager — Sequoia Mortgage Trust 2012-5

 

(f)           In
the case of the initial Controlling Holder,

 

Sequoia Mortgage Funding
Corporation

One Belvedere Place,
Suite 360

Mill Valley, California
94941

Attention: William Moliski

 

with a copy to

 

General Counsel at the
same address

 

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13.          This
Agreement shall be construed in accordance with the laws of the State of New York, except to the extent preempted by Federal law,
and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without regard
to the conflicts of laws provisions of the State of New York or any other jurisdiction.

 

14.          No
term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the
party against whom such waiver or modification is sought to be enforced.

 

15.          This
Agreement shall inure to the benefit of the successors and assigns of the parties hereto. Any entity into which Assignor, Depositor,
Assignee or Cornerstone may be merged or consolidated shall, without the requirement for any further writing, be deemed Assignor,
Depositor, Assignee or Cornerstone, respectively, hereunder.

 

16.          This
Agreement shall survive the conveyance of the Mortgage Loans, the assignment of the representations and warranties made by Cornerstone
pursuant to the Purchase Agreement to the extent of the Mortgage Loans by Assignor to Depositor and by Depositor to Assignee, and
the termination of the Purchase Agreement.

 

17.          This
Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and
all such counterparts shall constitute one and the same instrument.

 

18.          The Controlling Holder under
the Pooling and Servicing Agreement is an express third party beneficiary of this Agreement, and shall have the same power and
ability to exercise and enforce the rights stated to be provided to it hereunder as if it were a signatory hereto. Cornerstone
hereby consents to such exercise and enforcement.

 

19.          It
is expressly understood and agreed by the parties hereto that insofar as this Agreement is executed by the Trustee (i) this Agreement
is executed and delivered by Christiana Trust, a division of Wilmington Savings Fund Society, FSB (“Christiana Trust”)
not in its individual capacity but solely as Trustee on behalf of the trust created by the Pooling and Servicing Agreement referred
to herein (the “Trust”) in the exercise of the powers and authority conferred upon and vested in it, and as directed
in the Pooling and Servicing Agreement, (ii) each of the undertakings and agreements herein made on behalf of the Trust is made
and intended not as a personal undertaking or agreement of or by Christiana Trust but is made and intended for purposes of binding
only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of Christiana Trust, individually
or personally, to perform any covenant either express or implied in this Agreement, all such liability, if any, being expressly
waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (iv) under no circumstances
shall Christiana Trust in its individual capacity or in its capacity as Trustee be personally liable for the payment of any indebtedness,
amounts or expenses owed by the Assignor under the Purchase Agreement, as modified or supplemented by this Agreement (such indebtedness,
expenses and other amounts being payable solely from and to the extent of funds of the Trust) or be personally liable for the breach
or failure of any obligation, representation, warranty or covenant made under this Agreement or any other related documents.

 

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20.    
     Master Servicer. Cornerstone hereby acknowledges that the Assignee has appointed Wells
Fargo Bank, N.A. to act as master servicer and securities administrator under the Pooling and Servicing Agreement and hereby
agrees to treat all inquiries, demands, instructions, authorizations and other communications from the Master Servicer as if
the same had been received from the Assignee. The Master Servicer, acting on behalf of the Assignee, shall have the rights of
the Assignee as the Purchaser under this Agreement, including, without limitation, the right to enforce the obligations of
Cornerstone hereunder and under the Purchase Agreement and the right to exercise the remedies of the Purchaser hereunder and
under the Purchase Agreement.

 

Cornerstone shall make
all remittances due by it to the Purchaser with respect to the Mortgage Loans to the following account by wire transfer of immediately
available funds:

 

Wells Fargo Bank, N.A.

San Francisco, California

ABA# 121-000-248

Account #3970771416

Account Name: SAS Clearing

FFC: Account #48235300, Sequoia
Mortgage Trust 2012-5 Distribution Account

 

21.     
    Cornerstone acknowledges that the custodian will be Wells Fargo Bank, N.A. acting pursuant to the
Custodial Agreement. Notwithstanding Section 10 of the Purchase Agreement, Cornerstone shall pay shipping expenses for any
Mortgage Loan Documents if there has been a breach of any representation or warranty made with respect to the related
Mortgage Loan in Subsection 7.01 of the Purchase Agreement.

 

22.   
      Rule 17g-5 Compliance. Cornerstone hereby agrees that it shall provide information
with respect to the Mortgage Loans or the origination thereof to any Rating Agency or nationally recognized statistical
rating organization (“NRSRO”) via electronic mail at rmbs17g5informationprovider@wellsfargo.com, with a subject
reference of “SEMT 2012-5” and an identification of the type of information being provided in the body of such
electronic mail. The Securities Administrator, as the initial Rule 17g-5 Information Provider (the “Rule 17g-5
Information Provider”) shall notify Cornerstone in writing of any change in the identity or contact information of the
Rule 17g-5 Information Provider. Cornerstone shall have no liability for (i) the Rule 17g-5 Information Provider’s
failure to post information provided by it in accordance with the terms of this Agreement or (ii) any malfunction or
disabling of the website maintained by the Rule 17g-5 Information Provider. None of the foregoing restrictions in this
Section 22 prohibit or restrict oral or written communications, or providing information, between Cornerstone, on the
one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s
review of the ratings it assigns to Cornerstone or (ii) such Rating Agency’s or NRSRO’s evaluation of
Cornerstone’s operations in general; provided, however, that Cornerstone shall not provide any information relating to
the Mortgage Loans to such Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or
NRSRO unless: (x) borrower, property or deal specific identifiers are redacted; or (y) such information has already been
provided to the Rule 17g-5 Information Provider.

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Agreement the day and year first above written.

 

	 	REDWOOD RESIDENTIAL ACQUISITION
 CORPORATION
	 	Assignor
	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 
	 	SEQUOIA RESIDENTIAL FUNDING, INC.
	 	Depositor
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 
	 	Christiana Trust, a division of
 Wilmington Savings Fund Society,
    FSB,
 not in its individual capacity but solely as Trustee,
	 	Assignee
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 
	 	CORNERSTONE MORTGAGE COMPANY
	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

	Accepted and agreed to by:
	 
	WELLS FARGO BANK, N.A.
	Master Servicer
	 	 
	By:	 	 	 
	Name:	 	 	 
	Title:	 	 	 

 

Signature Page – Assignment of Representations and Warranties – Cornerstone (SEMT 2012-5)

 

    	 

    	 

    

 

ATTACHMENT 1

 

MORTGAGE LOAN SCHEDULE

  

	 	1	2	3	4	5	6	7	8	9	10
	 	Primary
    Servicer	Servicing
    Fee %	Servicing
    Fee—Flatdollar	Servicing
    Advance Methodology	Originator	Originator	Loan
    Group	Loan
    Number	Amortization
    Type	Lien
    Position
	1	1000383	0.002500	 	 	1001770	Cornerstone	 	552000292	1	1
	2	1000383	0.002500	 	 	1001770	Cornerstone	 	1140000423	1	1
	3	1000383	0.002500	 	 	1001770	Cornerstone	 	1400007817	1	1
	4	1000383	0.002500	 	 	1001770	Cornerstone	 	1400007822	1	1
	5	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008024	1	1
	6	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008062	1	1
	7	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008108	1	1
	8	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008137	1	1
	9	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008144	1	1
	10	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008164	1	1
	11	1000383	0.002500	 	 	1001770	Cornerstone	 	1400008196	1	1
	12	1000383	0.002500	 	 	1001770	Cornerstone	 	1420000255	1	1
	13	1000383	0.002500	 	 	1001770	Cornerstone	 	1420000287	1	1
	14	1000383	0.002500	 	 	1001770	Cornerstone	 	1500014606	1	1
	15	1000383	0.002500	 	 	1001770	Cornerstone	 	1500015066	1	1
	16	1000383	0.002500	 	 	1001770	Cornerstone	 	2080000362	1	1
	17	1000383	0.002500	 	 	1001770	Cornerstone	 	3060001052	1	1
	18	1000383	0.002500	 	 	1001770	Cornerstone	 	3170000732	1	1
	19	1000383	0.002500	 	 	1001770	Cornerstone	 	3900000652	1	1
	20	1000383	0.002500	 	 	1001770	Cornerstone	 	5510004044	1	1
	21	1000383	0.002500	 	 	1001770	Cornerstone	 	5510004140	1	1
	22	1000383	0.002500	 	 	1001770	Cornerstone	 	5520000353	1	1
	23	1000383	0.002500	 	 	1001770	Cornerstone	 	5950001544	1	1
	24	1000383	0.002500	 	 	1001770	Cornerstone	 	5950001587	1	1
	25	1000383	0.002500	 	 	1001770	Cornerstone	 	5950001695	1	1
	26	1000383	0.002500	 	 	1001770	Cornerstone	 	3900000647	1	1

 

	 	11	12	13	14	15	16	17	18	19	20
	 	HELOC
    Indicator	Loan
    Purpose	Cash
    Out Amount	Total
    Origination and Discount Points	Covered/High
    Cost Loan Indicator	Relocation
    Loan Indicator	Broker
    Indicator	Channel	Escrow
    Indicator	Senior
    Loan
 Amount(s)
	1	0	7	 	 	 	 	 	1	4	0
	2	0	9	 	 	 	 	 	1	0	0
	3	0	9	 	 	 	 	 	1	0	0
	4	0	7	 	 	 	 	 	1	0	0
	5	0	9	 	 	 	 	 	1	0	0
	6	0	7	 	 	 	 	 	1	0	0
	7	0	9	 	 	 	 	 	1	0	0
	8	0	7	 	 	 	 	 	1	4	0
	9	0	9	 	 	 	 	 	1	0	0
	10	0	9	 	 	 	 	 	1	0	0
	11	0	7	 	 	 	 	 	1	0	0
	12	0	7	 	 	 	 	 	1	4	0
	13	0	7	 	 	 	 	 	1	0	0
	14	0	9	 	 	 	 	 	1	0	0
	15	0	9	 	 	 	 	 	1	0	0
	16	0	7	 	 	 	 	 	1	4	0
	17	0	9	 	 	 	 	 	1	4	0
	18	0	7	 	 	 	 	 	1	0	0
	19	0	7	 	 	 	 	 	1	0	0
	20	0	7	 	 	 	 	 	1	4	0
	21	0	9	 	 	 	 	 	1	4	0
	22	0	7	 	 	 	 	 	1	4	0
	23	0	7	 	 	 	 	 	1	4	0
	24	0	9	 	 	 	 	 	1	4	0
	25	0	9	 	 	 	 	 	1	4	0
	26	0	7	 	 	 	 	 	1	0	0

 

	 	21	22	23	24	25	26	27	28	29	30
	 	Loan
    Type of Most
 Senior Lien	Hybrid
    Period of
 Most Senior Lien (in
 months)	Neg
    Am Limit of
 Most Senior Lien	Junior
    Mortgage
 Balance	Origination
    Date of
 Most Senior Lien	Origination
    Date	Original
    Loan
 Amount	Original
    Interest
 Rate	Original

    Amortization Term	Original
    Term to
 Maturity
	1	 	 	 	0.00	 	20120726	880000.00	0.042500	360	360
	2	 	 	 	0.00	 	20120824	488500.00	0.041250	360	360
	3	 	 	 	0.00	 	20120824	761000.00	0.045000	360	360
	4	 	 	 	0.00	 	20120731	595000.00	0.041250	360	360
	5	 	 	 	0.00	 	20120726	807500.00	0.043750	360	360
	6	 	 	 	0.00	 	20120731	561000.00	0.040000	360	360
	7	 	 	 	0.00	 	20120718	578250.00	0.041250	360	360
	8	 	 	 	0.00	 	20120830	564000.00	0.042500	360	360
	9	 	 	 	0.00	 	20120823	703400.00	0.042500	360	360
	10	 	 	 	0.00	 	20120830	988000.00	0.040000	360	360
	11	 	 	 	0.00	 	20120820	1099000.00	0.040000	360	360
	12	 	 	 	0.00	 	20120801	580000.00	0.043750	360	360
	13	 	 	 	0.00	 	20120731	650000.00	0.040000	360	360
	14	 	 	 	0.00	 	20120817	899200.00	0.042500	360	360
	15	 	 	 	0.00	 	20120823	747500.00	0.040000	360	360
	16	 	 	 	0.00	 	20120817	650000.00	0.040000	360	360
	17	 	 	 	0.00	 	20120810	958100.00	0.043750	360	360
	18	 	 	 	0.00	 	20120727	820000.00	0.040000	360	360
	19	 	 	 	0.00	 	20120706	750000.00	0.042500	360	360
	20	 	 	 	0.00	 	20120731	722550.00	0.037500	360	360
	21	 	 	 	250000.00	 	20120719	605500.00	0.043750	240	240
	22	 	 	 	0.00	 	20120820	570500.00	0.042500	360	360
	23	 	 	 	0.00	 	20120808	608000.00	0.042500	360	360
	24	 	 	 	84500.00	 	20120726	761000.00	0.041250	360	360
	25	 	 	 	0.00	 	20120816	942893.00	0.043750	360	360
	26	 	 	 	0.00	 	20120824	1160000.00	0.042500	360	360

 

	 	31	32	33	34	35	36	37	38	39	40
	 	First
    Payment Date
 of Loan	Interest
    Type
 Indicator	Original
    Interest
 Only Term	Buy
    Down Period	HELOC
    Draw Period	Current
    Loan
 Amount	Current
    Interest
 Rate	Current
    Payment
 Amount Due	Interest
    Paid
 Through Date	Current
    Payment
 Status
	1	20120901	1	0	0	 	877570.90	0.042500	4329.07	20120901	0
	2	20121001	1	0	0	 	487811.71	0.041250	2367.51	20120901	0
	3	20121001	1	0	0	 	759997.87	0.045000	3855.88	20120901	0
	4	20120901	1	0	0	 	594161.64	0.041250	2883.67	20120901	0
	5	20120901	1	0	0	 	806412.28	0.043750	4031.73	20120901	0
	6	20120901	1	0	0	 	560191.70	0.040000	2678.30	20120901	0
	7	20120901	1	0	0	 	577435.24	0.041250	2802.49	20120901	0
	8	20121001	1	0	0	 	563222.96	0.042500	2774.54	20120901	0
	9	20121001	1	0	0	 	702430.90	0.042500	3460.31	20120901	0
	10	20121001	1	0	0	 	986576.47	0.040000	4716.86	20120901	0
	11	20121001	1	0	0	 	1097416.54	0.040000	5246.79	20120901	0
	12	20121001	1	0	0	 	580000.00	0.043750	2895.85	20120901	0
	13	20120901	1	0	0	 	649063.47	0.040000	3103.20	20120901	0
	14	20121001	1	0	0	 	897961.15	0.042500	4423.52	20120901	0
	15	20121001	1	0	0	 	746422.99	0.040000	3568.68	20120901	0
	16	20121001	1	0	0	 	649063.47	0.040000	3103.20	20120901	0
	17	20121001	1	0	0	 	956809.42	0.043750	4783.65	20120901	0
	18	20120901	1	0	0	 	818818.52	0.040000	3914.81	20120901	0
	19	20120901	1	0	0	 	748966.70	0.042500	3689.55	20120901	0
	20	20120901	1	0	0	 	721461.73	0.037500	3346.24	20120901	0
	21	20120901	1	0	0	 	605500.00	0.043750	3789.96	20120901	0
	22	20121001	1	0	0	 	569714.00	0.042500	2806.52	20120901	0
	23	20121001	1	0	0	 	608000.00	0.042500	2990.99	20120901	0
	24	20120901	1	0	0	 	759927.76	0.041250	3688.18	20120901	0
	25	20121001	1	0	0	 	941622.90	0.043750	4707.73	20120901	0
	26	20121001	1	0	0	 	1158401.83	0.042500	5706.50	20120901	0

 

	 	41	42	43	44	45	46	47	48	49	50
	 	Index
    Type	ARM
    Look-back
 Days	Gross
    Margin	ARM
    Round Flag	ARM
    Round Factor	Initial
    Fixed Rate
 Period	Initial
    Interest Rate
 Cap (Change Up)	Initial
    Interest Rate
 Cap (Change Down)	Subsequent
    Interest
 Rate Reset Period	Subsequent
    Interest
 Rate Cap (Change Down)
	1	0	 	 	 	 	 	 	 	 	 
	2	0	 	 	 	 	 	 	 	 	 
	3	0	 	 	 	 	 	 	 	 	 
	4	0	 	 	 	 	 	 	 	 	 
	5	0	 	 	 	 	 	 	 	 	 
	6	0	 	 	 	 	 	 	 	 	 
	7	0	 	 	 	 	 	 	 	 	 
	8	0	 	 	 	 	 	 	 	 	 
	9	0	 	 	 	 	 	 	 	 	 
	10	0	 	 	 	 	 	 	 	 	 
	11	0	 	 	 	 	 	 	 	 	 
	12	0	 	 	 	 	 	 	 	 	 
	13	0	 	 	 	 	 	 	 	 	 
	14	0	 	 	 	 	 	 	 	 	 
	15	0	 	 	 	 	 	 	 	 	 
	16	0	 	 	 	 	 	 	 	 	 
	17	0	 	 	 	 	 	 	 	 	 
	18	0	 	 	 	 	 	 	 	 	 
	19	0	 	 	 	 	 	 	 	 	 
	20	0	 	 	 	 	 	 	 	 	 
	21	0	 	 	 	 	 	 	 	 	 
	22	0	 	 	 	 	 	 	 	 	 
	23	0	 	 	 	 	 	 	 	 	 
	24	0	 	 	 	 	 	 	 	 	 
	25	0	 	 	 	 	 	 	 	 	 
	26	0	 	 	 	 	 	 	 	 	 

 

	 	51	52	53	54	55	56	57	58	59	60
	 	Subsequent
    Interest
 Rate Cap (Change
 Up)	Lifetime
    Maximum
 Rate (Ceiling)	Lifetime
    Minimum
 Rate (Floor)	Negative

    Amortization Limit	Initial
    Negative
 Amortization Recast
 Period	Subsequent

    Negative
 Amortization Recast
 Period	Initial
    Fixed
 Payment Period	Subsequent

    Payment Reset
 Period	Initial
    Periodic
 Payment Cap	Subsequent

    Periodic Payment
 Cap
	1	 	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 	 
	7	 	 	 	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 	 
	10	 	 	 	 	 	 	 	 	 	 
	11	 	 	 	 	 	 	 	 	 	 
	12	 	 	 	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 	 	 
	18	 	 	 	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 	 	 
	22	 	 	 	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 	 	 
	24	 	 	 	 	 	 	 	 	 	 
	25	 	 	 	 	 	 	 	 	 	 
	26	 	 	 	 	 	 	 	 	 	 

 

	 	61	62	63	64	65	66	67	68	69	70
	 	Initial
    Minimum
 Payment Reset
 Period	Subsequent

    Minimum Payment
 Reset Period	Option
    ARM
 Indicator	Options
    at Recast	Initial
    Minimum
 Payment	Current
    Minimum
 Payment	Prepayment
    Penalty
 Calculation	Prepayment
    Penalty
 Type	Prepayment
    Penalty
 Total Term	Prepayment
    Penalty
 Hard Term
	1	 	 	 	 	 	 	 	 	0	 
	2	 	 	 	 	 	 	 	 	0	 
	3	 	 	 	 	 	 	 	 	0	 
	4	 	 	 	 	 	 	 	 	0	 
	5	 	 	 	 	 	 	 	 	0	 
	6	 	 	 	 	 	 	 	 	0	 
	7	 	 	 	 	 	 	 	 	0	 
	8	 	 	 	 	 	 	 	 	0	 
	9	 	 	 	 	 	 	 	 	0	 
	10	 	 	 	 	 	 	 	 	0	 
	11	 	 	 	 	 	 	 	 	0	 
	12	 	 	 	 	 	 	 	 	0	 
	13	 	 	 	 	 	 	 	 	0	 
	14	 	 	 	 	 	 	 	 	0	 
	15	 	 	 	 	 	 	 	 	0	 
	16	 	 	 	 	 	 	 	 	0	 
	17	 	 	 	 	 	 	 	 	0	 
	18	 	 	 	 	 	 	 	 	0	 
	19	 	 	 	 	 	 	 	 	0	 
	20	 	 	 	 	 	 	 	 	0	 
	21	 	 	 	 	 	 	 	 	0	 
	22	 	 	 	 	 	 	 	 	0	 
	23	 	 	 	 	 	 	 	 	0	 
	24	 	 	 	 	 	 	 	 	0	 
	25	 	 	 	 	 	 	 	 	0	 
	26	 	 	 	 	 	 	 	 	0	 

 

	 	71	72	73	74	75	76	77	78	79	80
	 	Primary
    Borrower ID	Number
    of
 Mortgaged
 Properties	Total
    Number of
 Borrowers	Self-employment

    Flag	Current
    ‘Other’
 Monthly Payment	Length
    of
 Employment:
 Borrower	Length
    of
 Employment: Co-
 Borrower	Years
    in Home	FICO
    Model Used	Most
    Recent FICO
 Date
	1	 	4	 	1	 	0	18	0	1	 
	2	 	1	 	0	 	0	 	4	1	 
	3	 	1	 	1	 	18	 	17	1	 
	4	 	1	 	1	 	0	 	0	1	 
	5	 	2	 	0	 	0.4	 	6	1	 
	6	 	4	 	1	 	5	 	0	1	 
	7	 	1	 	0	 	17	 	11	1	 
	8	 	2	 	0	 	4	 	0	1	 
	9	 	1	 	0	 	3	2	7	1	 
	10	 	1	 	0	 	14	 	1.25	1	 
	11	 	2	 	0	 	0	 	0	1	 
	12	 	1	 	1	 	3	 	0	1	 
	13	 	1	 	0	 	18.5	 	0	1	 
	14	 	1	 	1	 	7.5	 	1	1	 
	15	 	1	 	0	 	1	 	2	1	 
	16	 	2	 	1	 	15	 	0	1	 
	17	 	1	 	1	 	12	 	5	1	 
	18	 	2	 	0	 	8.25	 	0	1	 
	19	 	3	 	0	 	2	 	0	1	 
	20	 	1	 	0	 	0.25	 	0	1	 
	21	 	3	 	0	 	4	4	6	1	 
	22	 	1	 	0	 	2.5	 	0	1	 
	23	 	2	 	0	 	4.25	2	0	1	 
	24	 	1	 	0	 	0	8	5	1	 
	25	 	1	 	0	 	4	 	2	1	 
	26	 	3	 	0	 	1	1.75	0	1	 

 

	 	81	82	83	84	85	86	87	88	89	90
	 	Primary
    Wage
 Earner Original
 FICO: Equifax	Primary
    Wage
 Earner Original
 FICO: Experian	Primary
    Wage
 Earner Original
 FICO: TransUnion	Secondary
    Wage
 Earner Original
 FICO: Equifax	Secondary
    Wage
 Earner Original
 FICO: Experian	Secondary
    Wage
 Earner Original
 FICO: TransUnion	Original

    Primary Borrower
 FICO	Most
    Recent
 Primary Borrower
 FICO	Most
    Recent Co-
 Borrower FICO	Most
    Recent FICO
 Method
	1	 	 	 	 	 	 	769	 	 	 
	2	 	 	 	 	 	 	745	 	 	 
	3	 	 	 	 	 	 	785	 	 	 
	4	 	 	 	 	 	 	791	 	 	 
	5	 	 	 	 	 	 	728	 	 	 
	6	 	 	 	 	 	 	727	 	 	 
	7	 	 	 	 	 	 	775	 	 	 
	8	 	 	 	 	 	 	820	 	 	 
	9	 	 	 	 	 	 	783	 	 	 
	10	 	 	 	 	 	 	770	 	 	 
	11	 	 	 	 	 	 	700	 	 	 
	12	 	 	 	 	 	 	760	 	 	 
	13	 	 	 	 	 	 	787	 	 	 
	14	 	 	 	 	 	 	766	 	 	 
	15	 	 	 	 	 	 	774	 	 	 
	16	 	 	 	 	 	 	706	 	 	 
	17	 	 	 	 	 	 	741	 	 	 
	18	 	 	 	 	 	 	788	 	 	 
	19	 	 	 	 	 	 	802	 	 	 
	20	 	 	 	 	 	 	751	 	 	 
	21	 	 	 	 	 	 	773	 	 	 
	22	 	 	 	 	 	 	807	 	 	 
	23	 	 	 	 	 	 	792	 	 	 
	24	 	 	 	 	 	 	779	 	 	 
	25	 	 	 	 	 	 	751	 	 	 
	26	 	 	 	 	 	 	727	 	 	 

 

	 	91	92	93	94	95	96	97	98	99	100
	 	VantageScore:

    Primary Borrower	VantageScore:
    Co-
 Borrower	Most
    Recent
 VantageScore
 Method	VantageScore
    Date	Credit
    Report:
 Longest Trade Line	Credit
    Report:
 Maximum Trade
 Line	Credit
    Report:
 Number of Trade
 Lines	Credit
    Line Usage
 Ratio	Most
    Recent 12-
 month Pay History	Months
    Bankruptcy
	1	 	 	 	 	 	 	 	 	000000000000	 
	2	 	 	 	 	 	 	 	 	000000000000	 
	3	 	 	 	 	 	 	 	 	000000000000	 
	4	 	 	 	 	 	 	 	 	000000000000	 
	5	 	 	 	 	 	 	 	 	000000000000	 
	6	 	 	 	 	 	 	 	 	000000000000	 
	7	 	 	 	 	 	 	 	 	000000000000	 
	8	 	 	 	 	 	 	 	 	000000000000	 
	9	 	 	 	 	 	 	 	 	000000000000	 
	10	 	 	 	 	 	 	 	 	000000000000	 
	11	 	 	 	 	 	 	 	 	000000000000	 
	12	 	 	 	 	 	 	 	 	000000000000	 
	13	 	 	 	 	 	 	 	 	000000000000	 
	14	 	 	 	 	 	 	 	 	000000000000	 
	15	 	 	 	 	 	 	 	 	000000000000	 
	16	 	 	 	 	 	 	 	 	000000000000	 
	17	 	 	 	 	 	 	 	 	000000000000	 
	18	 	 	 	 	 	 	 	 	000000000000	 
	19	 	 	 	 	 	 	 	 	000000000000	 
	20	 	 	 	 	 	 	 	 	000000000000	 
	21	 	 	 	 	 	 	 	 	000000000000	 
	22	 	 	 	 	 	 	 	 	000000000000	 
	23	 	 	 	 	 	 	 	 	000000000000	 
	24	 	 	 	 	 	 	 	 	000000000000	 
	25	 	 	 	 	 	 	 	 	000000000000	 
	26	 	 	 	 	 	 	 	 	000000000000	 

 

	 	101	102	103	104	105	106	107	108	109	110
	 	Months
    Foreclosure	Primary
    Borrower
 Wage Income	Co-Borrower
    Wage
 Income	Primary
    Borrower
 Other Income	Co-Borrower
    Other
 Income	All
    Borrower Wage
 Income	All
    Borrower Total
 Income	4506-T
    Indicator	Borrower
    Income
 Verification Level	Co-Borrower

    Income Verification
	1	 	2461.00	17785.00	0.00	0.00	20246.00	20246.00	1	4	 
	2	 	13110.01	0.00	0.00	0.00	13110.01	13110.01	1	5	 
	3	 	15049.75	0.00	11128.82	0.00	15049.75	26178.57	1	4	 
	4	 	15350.00	 	0.00	 	15350.00	15350.00	1	4	 
	5	 	22125.35	0.00	0.00	0.00	22125.35	22125.35	1	5	 
	6	 	8220.00	0.00	0.00	0.00	35253.00	35253.00	1	4	 
	7	 	20833.34	0.00	0.00	0.00	20833.34	20833.34	1	5	 
	8	 	22916.68	0.00	1168.83	0.00	22916.68	24085.51	1	5	 
	9	 	3584.83	4929.94	0.00	5775.00	8514.77	14289.77	1	5	 
	10	 	14583.33	 	24067.00	 	14583.33	38650.33	1	5	 
	11	 	322123.83	0.00	0.00	0.00	322123.83	322123.83	1	5	 
	12	 	35244.00	 	0.00	 	35244.00	35244.00	1	4	 
	13	 	12916.67	0.00	16917.99	0.00	12916.67	29834.66	1	5	 
	14	 	20255.70	 	0.00	 	20255.70	20255.70	1	4	 
	15	 	98320.13	0.00	0.00	0.00	98320.13	98320.13	1	5	 
	16	 	15368.42	 	0.00	 	15368.42	15368.42	1	4	 
	17	 	28679.99	0.00	0.00	0.00	28679.99	28679.99	1	4	 
	18	 	24166.68	0.00	11231.64	0.00	24166.68	35398.32	1	5	 
	19	 	119906.00	 	59621.00	 	119906.00	179527.00	1	5	 
	20	 	16666.67	 	0.00	 	16666.67	16666.67	1	5	 
	21	 	10000.00	0.00	0.00	0.00	10000.00	10000.00	1	5	 
	22	 	998.00	4880.00	0.00	7068.00	5878.00	12946.00	1	5	 
	23	 	7897.06	13333.34	0.00	0.00	21230.40	21230.40	1	5	 
	24	 	0.00	10792.00	0.00	5689.00	10792.00	16481.00	1	5	 
	25	 	15216.00	 	2330.00	 	15216.00	17546.00	1	5	 
	26	 	11206.99	11791.68	0.00	0.00	22998.67	22998.67	1	5	 

 

	 	111	112	113	114	115	116	117	118	119	120
	 	Borrower

    Employment
 Verification	Co-Borrower

    Employment
 Verification	Borrower
    Asset
 Verification	Co-Borrower
    Asset
 Verification	Liquid
    / Cash
 Reserves	Monthly
    Debt All
 Borrowers	Originator
    DTI	Fully
    Indexed Rate	Qualification

    Method	Percentage
    of Down
 Payment from
 Borrower Own
 Funds
	1	3	 	4	 	335624.16	7308.32	0.3610	 	 	100
	2	3	 	4	 	25356.07	5647.88	0.4308	 	 	 
	3	3	 	4	 	485334.47	8183.87	0.3126	 	 	 
	4	3	 	4	 	5359063.66	6446.51	0.4200	 	 	100
	5	3	 	4	 	669449.81	6501.73	0.2939	 	 	 
	6	3	 	4	 	345940.64	15819.04	0.4487	 	 	100
	7	3	 	4	 	107401.16	6260.52	0.3005	 	 	 
	8	3	 	4	 	437215.24	9662.22	0.4012	 	 	100
	9	3	 	4	 	75706.48	5158.28	0.3610	 	 	 
	10	3	 	4	 	500805.84	11073.36	0.2865	 	 	 
	11	3	 	4	 	7408117.27	14041.70	0.0436	 	 	100
	12	3	 	4	 	113574.08	8303.66	0.2356	 	 	100
	13	3	 	4	 	451327.85	9120.78	0.3057	 	 	100
	14	3	 	4	 	95210.48	8400.73	0.4147	 	 	 
	15	3	 	4	 	151945.30	6927.24	0.0705	 	 	 
	16	3	 	4	 	134185.90	6513.47	0.4238	 	 	100
	17	3	 	4	 	168816.26	10829.82	0.3776	 	 	 
	18	3	 	4	 	635582.16	9596.06	0.2711	 	 	100
	19	3	 	4	 	1309498.25	31179.89	0.1737	 	 	100
	20	3	 	4	 	273058.55	4704.47	0.2823	 	 	100
	21	3	 	4	 	76571.92	4371.39	0.4371	 	 	 
	22	3	 	4	 	8169797.40	4869.61	0.3761	 	 	100
	23	3	 	4	 	119720.02	6702.03	0.3157	 	 	100
	24	3	 	4	 	57229.16	6592.71	0.4000	 	 	 
	25	3	 	4	 	68400.51	7171.07	0.4087	 	 	 
	26	3	 	4	 	534103.83	10324.08	0.4489	 	 	100

 

	 	121	122	123	124	125	126	127	128	129	130
	 	City	State	Postal
    Code	Property
    Type	Occupancy	Sales
    Price	Original
    Appraised
 Property Value	Original
    Property
 Valuation Type	Original
    Property
 Valuation Date	Original
    Automated
 Valuation Model
 (AVM) Model Name
	1	Carbondale	CO	81623	1	1	1100000.00	1100000.00	3	20120614	 
	2	Humble	TX	77346	7	1	 	625000.00	3	20120806	 
	3	Dallas	TX	75214	1	1	 	1150000.00	3	20120514	 
	4	Dallas	TX	75230	1	2	1095000.00	1095000.00	3	20120703	 
	5	Dallas	TX	75225	1	1	 	1225000.00	3	20120613	 
	6	Dallas	TX	75225	1	1	935000.00	935000.00	3	20120712	 
	7	University Park	TX	75225	1	1	 	1145000.00	3	20120706	 
	8	University Park	TX	75205	12	1	705000.00	705000.00	3	20120818	 
	9	Dallas	TX	75225	1	1	 	950000.00	3	20120803	 
	10	University Park	TX	75205	1	1	 	2000000.00	3	20120817	 
	11	Dallas	TX	75205	1	1	1570000.00	1575000.00	3	20120810	 
	12	Dallas	TX	75214	1	1	725000.00	725000.00	3	20120724	 
	13	University Park	TX	75225	1	1	1100000.00	1100000.00	3	20120713	 
	14	Austin	TX	78746	7	1	 	1200000.00	3	20120614	 
	15	Austin	TX	78733	7	1	 	1145000.00	3	20120725	 
	16	Loveland	CO	80538	7	1	1100000.00	1100000.00	3	20120801	 
	17	EL PASO	TX	79912	1	1	 	1200000.00	3	20120627	 
	18	The Woodlands	TX	77380	7	1	1025000.00	1050000.00	3	20120709	 
	19	Los Angeles	CA	90048	1	1	1000000.00	1080000.00	3	20120615	 
	20	Fort collins	CO	80528	7	1	963400.00	965000.00	3	20120709	 
	21	Boulder	CO	80303	1	1	 	1100000.00	3	20120616	 
	22	Glenwood Springs	CO	81601	7	1	815000.00	830000.00	3	20120717	 
	23	Seattle	WA	98115	1	1	760000.00	765000.00	3	20120707	 
	24	Seattle	WA	98103	1	1	 	1150000.00	3	20120619	 
	25	Seattle	WA	98144	1	1	 	1356000.00	3	20120723	 
	26	manhattan beach	CA	90266	1	1	1455000.00	1455000.00	3	20120725	 

 

	 	131	132	133	134	135	136	137	138	139	140
	 	Original
    AVM
 Confidence Score	Most
    Recent
 Property Value2	Most
    Recent
 Property Valuation
 Type	Most
    Recent
 Property Valuation
 Date	Most
    Recent AVM
 Model Name	Most
    Recent AVM
 Confidence Score	Original
    CLTV	Original
    LTV	Original
    Pledged
 Assets	Mortgage
    Insurance
 Company Name
	1	 	 	 	 	 	 	0.8000	0.8000	0	0
	2	 	 	 	 	 	 	0.7816	0.7816	0	0
	3	 	 	 	 	 	 	0.6617	0.6617	0	0
	4	 	 	 	 	 	 	0.5433	0.5433	0	0
	5	 	 	 	 	 	 	0.6591	0.6591	0	0
	6	 	 	 	 	 	 	0.6000	0.6000	0	0
	7	 	 	 	 	 	 	0.5050	0.5050	0	0
	8	 	 	 	 	 	 	0.8000	0.8000	0	0
	9	 	 	 	 	 	 	0.7404	0.7404	0	0
	10	 	 	 	 	 	 	0.4940	0.4940	0	0
	11	 	 	 	 	 	 	0.7000	0.7000	0	0
	12	 	 	 	 	 	 	0.8000	0.8000	0	0
	13	 	 	 	 	 	 	0.5909	0.5909	0	0
	14	 	 	 	 	 	 	0.7493	0.7493	0	0
	15	 	 	 	 	 	 	0.6528	0.6528	0	0
	16	 	 	 	 	 	 	0.5909	0.5909	0	0
	17	 	 	 	 	 	 	0.7984	0.7984	0	0
	18	 	 	 	 	 	 	0.8000	0.8000	0	0
	19	 	 	 	 	 	 	0.7500	0.7500	0	0
	20	 	 	 	 	 	 	0.7500	0.7500	0	0
	21	 	 	 	 	 	 	0.7777	0.5504	0	0
	22	 	 	 	 	 	 	0.7000	0.7000	0	0
	23	 	 	 	 	 	 	0.8000	0.8000	0	0
	24	 	 	 	 	 	 	0.7352	0.6617	0	0
	25	 	 	 	 	 	 	0.6953	0.6953	0	0
	26	 	 	 	 	 	 	0.7972	0.7972	0	0

 

	 	141	142	143	144	145	146	147	148	149	150
	 	Mortgage
    Insurance
 Percent	MI:
    Lender or
 Borrower Paid?	Pool
    Insurance Co.
 Name	Pool
    Insurance Stop
 Loss %	MI
    Certificate
 Number	Updated
    DTI
 (Front-end)	Updated
    DTI
 (Back-end)	Modification

    Effective Payment
 Date	Total
    Capitalized
 Amount	Total
    Deferred
 Amount
	1	0	 	 	 	 	 	 	 	 	 
	2	0	 	 	 	 	 	 	 	 	 
	3	0	 	 	 	 	 	 	 	 	 
	4	0	 	 	 	 	 	 	 	 	 
	5	0	 	 	 	 	 	 	 	 	 
	6	0	 	 	 	 	 	 	 	 	 
	7	0	 	 	 	 	 	 	 	 	 
	8	0	 	 	 	 	 	 	 	 	 
	9	0	 	 	 	 	 	 	 	 	 
	10	0	 	 	 	 	 	 	 	 	 
	11	0	 	 	 	 	 	 	 	 	 
	12	0	 	 	 	 	 	 	 	 	 
	13	0	 	 	 	 	 	 	 	 	 
	14	0	 	 	 	 	 	 	 	 	 
	15	0	 	 	 	 	 	 	 	 	 
	16	0	 	 	 	 	 	 	 	 	 
	17	0	 	 	 	 	 	 	 	 	 
	18	0	 	 	 	 	 	 	 	 	 
	19	0	 	 	 	 	 	 	 	 	 
	20	0	 	 	 	 	 	 	 	 	 
	21	0	 	 	 	 	 	 	 	 	 
	22	0	 	 	 	 	 	 	 	 	 
	23	0	 	 	 	 	 	 	 	 	 
	24	0	 	 	 	 	 	 	 	 	 
	25	0	 	 	 	 	 	 	 	 	 
	26	0	 	 	 	 	 	 	 	 	 

 

	 	151	152	153	154	155	156	157	158	159	160
	 	Pre-Modification

    Interest (Note) Rate	Pre-Modification
    P&I
 Payment	Pre-Modification

    Initial Interest Rate
 Change Downward
 Cap	Pre-Modification

    Subsequent Interest
 Rate Cap	Pre-Modification

    Next Interest Rate
 Change Date	Pre-Modification
    I/O
 Term	Forgiven
    Principal
 Amount	Forgiven
    Interest
 Amount	Number
    of
 Modifications	Cash
    To/From Brrw at Closing
	1	 	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 	 
	7	 	 	 	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 	 
	10	 	 	 	 	 	 	 	 	 	 
	11	 	 	 	 	 	 	 	 	 	 
	12	 	 	 	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 	 	 
	18	 	 	 	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 	 	 
	22	 	 	 	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 	 	 
	24	 	 	 	 	 	 	 	 	 	 
	25	 	 	 	 	 	 	 	 	 	 
	26	 	 	 	 	 	 	 	 	 	 

 

	 	161	162	163	164	165	166	167
	 	Brrw
    - Yrs at in Industry	CoBrrw
    - Yrs at in Industry	Junior
    Mortgage Drawn Amount	Maturity
    Date	Primary
    Borrower Wage Income (Salary)	Primary
    Borrower Wage Income (Bonus)	Primary
    Borrower Wage Income (Commission)
	1	0	19	0.00	20420801	2461.00	0.00	0.00
	2	17	 	0.00	20420901	13110.01	0.00	0.00
	3	18	 	0.00	20420901	15049.75	11128.82	0.00
	4	0	 	0.00	20420801	15350.00	0.00	0.00
	5	5	 	0.00	20420801	22125.35	0.00	0.00
	6	5	 	0.00	20420801	8220.00	0.00	0.00
	7	19	 	0.00	20420801	20833.34	0.00	0.00
	8	4	 	0.00	20420901	22916.68	1168.83	0.00
	9	3	2	0.00	20420901	3584.83	0.00	0.00
	10	14	 	0.00	20420901	14583.33	24067.00	0.00
	11	2	 	0.00	20420901	322123.83	0.00	0.00
	12	3	 	0.00	20420901	35244.00	0.00	0.00
	13	18.5	 	0.00	20420801	12916.67	16917.99	0.00
	14	9	 	0.00	20420901	20255.70	0.00	0.00
	15	9	 	0.00	20420901	98320.13	0.00	0.00
	16	15	 	0.00	20420901	15368.42	0.00	0.00
	17	12	 	0.00	20420901	28679.99	0.00	0.00
	18	17	 	0.00	20420801	24166.68	11231.64	0.00
	19	2	 	0.00	20420801	119906.00	0.00	0.00
	20	15	 	0.00	20420801	16666.67	0.00	0.00
	21	12	10	250000.00	20320801	10000.00	0.00	0.00
	22	15	 	0.00	20420901	998.00	0.00	0.00
	23	8	6	0.00	20420901	7897.06	0.00	0.00
	24	0	8	83481.00	20420801	0.00	0.00	0.00
	25	15	 	0.00	20420901	15216.00	2330.00	0.00
	26	12	15	0.00	20420901	11206.99	0.00	0.00

 

	 	168	169	170	171	172	173
	 	Co-Borrower
    Wage Income (Salary)	Co-Borrower
    Wage Income (Bonus)	Co-Borrower
    Wage Income (Commission)	Originator
    Doc Code	RWT
    Income Verification	RWT
    Asset Verification
	1	17785.00	0.00	0.00	Full	Two Years	Two Months
	2	0.00	0.00	0.00	Full	Two Years	Two Months
	3	0.00	0.00	0.00	Full	Two Years	Two Months
	4	0.00	0.00	0.00	Full	Two Years	Two Months
	5	0.00	0.00	0.00	Full	Two Years	Two Months
	6	0.00	0.00	0.00	Full	Two Years	Two Months
	7	0.00	0.00	0.00	Full	Two Years	Two Months
	8	0.00	0.00	0.00	Full	Two Years	Two Months
	9	4929.94	0.00	0.00	Full	Two Years	Two Months
	10	0.00	0.00	0.00	Full	Two Years	Two Months
	11	0.00	0.00	0.00	Full	Two Years	Two Months
	12	0.00	0.00	0.00	Full	Two Years	Two Months
	13	0.00	0.00	0.00	Full	Two Years	Two Months
	14	0.00	0.00	0.00	Full	Two Years	Two Months
	15	0.00	0.00	0.00	Full	Two Years	Two Months
	16	0.00	0.00	0.00	Full	Two Years	Two Months
	17	0.00	0.00	0.00	Full	Two Years	Two Months
	18	0.00	0.00	0.00	Full	Two Years	Two Months
	19	0.00	0.00	0.00	Full	Two Years	Two Months
	20	0.00	0.00	0.00	Full	Two Years	Two Months
	21	0.00	0.00	0.00	Full	Two Years	Two Months
	22	4880.00	0.00	0.00	Full	Two Years	Two Months
	23	13333.34	0.00	0.00	Full	Two Years	Two Months
	24	10792.00	5689.00	0.00	Full	Two Years	Two Months
	25	0.00	0.00	0.00	Full	Two Years	Two Months
	26	11791.68	0.00	0.00	Full	Two Years	Two Months

 

    	 

    	 

    
  

ASF RMBS DISCLOSURE PACKAGE

 

 

The American Securitization Forum is a broad-based professional
forum through which participants in the U.S. securitization market advocate their common interests on important legal, regulatory
and market practice issues. ASF members include over 380 firms, including issuers, investors, servicers, financial intermediaries,
rating agencies, financial guarantors, legal and accounting firms, and other professional organizations involved in securitization
transactions. The ASF also provides information, education and training on a range of securitization market issues and topics
through industry conferences, seminars and similar initiatives. For more information about ASF, its members and activities, please
go to www.americansecuritization.com.

 

	Field
                                                                                                                                                                                                                       

        Number
	Field
    Name	Field
    Description	Type
                                                                                                                                     of
                                                                                                                                     

        Field
	Data
    Type	Sample
    Data	Format	When
                                                                                                                                     

        Applicable?
	Valid
    Values	Proposed
                                                                                                                                     

        Unique
        

        Coding
	Notes
	1	Primary
    Servicer	The MERS
    Organization ID of the company that has or will have the right to service the loan.	General
    Information	Numeric
    – Integer	2351805	9(7)	Always	“9999999”
    if Unknown		
	2	Servicing
    Fee—Percentage	Aggregate
    monthly fee paid to all servicers, stated in decimal form.	General
    Information	Numeric
    - Decimal	0.0025	9.999999	Loans
    without flat-dollar servicing fees	>=
    0 and < 1		Must
    be populated if Field 3 is Null
	3	Servicing
    Fee—Flat-dollar	Aggregate
    monthly fee paid to all servicers, stated as a dollar amount.	General
    Information	Numeric
    – Decimal	7.5	9(3).99	Loans
    with flat-dollar servicing fees	>=
                                                                                        0 and

        <=
        999
		Must
    be populated if 2 is Null
	4	Servicing
    Advance Methodology	The manner
    in which principal and/or interest are to be advanced by the servicer.	General
    Information	Numeric
    – Integer	2	99	Always	See
    Coding	1
                                                                                        = Scheduled Interest, Scheduled Principal

        2 = Actual Interest, Actual
        Principal

        3 = Scheduled Interest,
        Actual Principal

        99 = Unknown
	
	5	Originator	The MERS
    Organization ID of the entity that lends funds to the borrower and, in return, places a lien on the mortgage property as collateral.	General
    Information	Numeric
    – Integer	5938671	9(7)	Always	“9999999”
    if Unknown		
	6	Loan
    Group	Indicates
    the collateral group number in which the loan falls (for structures with multiple collateral groups). Use “1”
    if there is only one loan group.	General
    Information	Text	1A	XXXX	Always	“UNK”
    if Unknown		
	7	Loan
    Number	Unique National
    Mortgage Loan ID Number (Vendor TBD).	General
    Information	Numeric
    – Integer	TBD	TBD	Always	TBD		Details
    to be provided by Vendor
	8	Amortization
    Type	Indicates
    whether the loan’s interest rate is fixed or adjustable (Hybrid ARMs are adjustable).	Loan
    Type	Numeric
    – Integer	2	99	Always	See
    Coding	1
                                                                                        = Fixed

        2 = Adjustable

        99 = Unknown
	
	9	Lien
    Position	A number
    indicating the loan’s lien position (1 = first lien, etc.).	Loan
    Type	Numeric
    – Integer	1	99	Always	>0	99 = Unknown	
	10	HELOC
    Indicator	Indicates
    whether the loan is a home equity line of credit.	Loan
    Type	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	11	Loan
    Purpose	Indicates
    the purpose of the loan.	Loan
    Type	Numeric
    – Integer	9	99	Always	See
    Coding	See
    Appendix A	
	12	Cash
    Out Amount	Cash Out
    Amount: [New Loan] – [PIF Prior First Lien] – [Payoff of all Seasoned Seconds] – [Closing Costs] –
    [Prepays]
 
 For delayed purchases (refinances on homes purchased < 12 months prior to the mortgage application)
    with cash) Cash Out Amount = 0.	Loan
    Type	Numeric
    – Decimal	72476.5	9(10).99	Always	>=
    0		
	13	Total
    Origination and Discount Points (in dollars)	Amount paid
    to the lender to increase the lender’s effective yield and, in the case of discount points, to reduce the interest rate
    paid by the borrower.	Loan
    Type	Numeric
    – Decimal	5250	9(10).99	Always	>=
    0		Typically
    Lines 801 and 802 of HUD Settlement Statement
	14	Covered/High
    Cost Loan Indicator	Indicates
    whether the loan is categorized as “high cost” or “covered” according to state or federal statutes
    or regulations.	Loan
    Type	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	15	Relocation
    Loan Indicator	Indicates
    whether the loan is part of a corporate relocation program.	Loan
    Type	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	16	Broker
    Indicator	Indicates
    whether a broker took the application.	Loan
    Type	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	17	Channel	Code indicating
    the source (channel) from which the Issuer obtained the mortgage loan.	Loan
    Type	Numeric
    – Integer	2	99	Always	See
    Coding	1
                                                                                        = Retail

        2 = Broker

        3 = Correspondent Bulk

        4 = Correspondent Flow
        with delegated underwriting

        5 = Correspondent Flow
        without delegated underwriting

        99 = Unknown
	
	18	Escrow
    Indicator	Indicates
    whether various homeownership expenses are paid by the borrower directly or through an escrow account (as of securitization
    cut-off date).	Loan
    Type	Numeric
    – Integer	3	99	Always	See
    Coding	0
                                                                                        = No Escrows

        1 = Taxes

        2 = Insurance

        3 = HOA dues

        4 = Taxes and Insurance

        5 = All

        99 =Unknown
	
	19	Senior
    Loan Amount(s)	For non-first
    mortgages, the sum of the balances of all associated senior mortgages at the time of origination of the subordinate lien.	Mortgage
    Lien Info	Numeric
    – Decimal	611004.25	9(10).99	If
    Lien Position > 1	>=
    0		
	20	Loan
    Type of Most Senior Lien	For non-first
    mortgages, indicates whether the associated first mortgage is a Fixed, ARM, Hybrid, or negative amortization loan.	Mortgage
    Lien Info	Numeric
    – Integer	2	99	If
    Lien Position > 1	See
    Coding	1
                                                                                        = Fixed Rate

        2 = ARM

        3 = Hybrid

        4 = Neg Am

        99 = Unknown
	
	21	Hybrid
    Period of Most Senior Lien (in months)	For non-first
    mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest
    rate period for the hybrid first mortgage.	Mortgage
    Lien Info	Numeric
    – Integer	23	999	If
                                                                                        Lien Position > 1

        AND
        the most senior lien is a hybrid ARM (see Field 20)
	>=
    0		
	22	Neg
    Am Limit of Most Senior Lien	For non-first
    mortgages where the associated first mortgage features negative amortization, the maximum percentage by which the negatively
    amortizing balance may increase (expressed as a proportion of the senior lien’s original balance).	Mortgage
    Lien Info	Numeric
    – Decimal	1.25	9.999999	If
                                                                                        Lien Position > 1

        AND
        the senior lien is Neg Am (see Field 20)
	>=
    1 and <= 2		
	23	Junior
    Mortgage Balance	For first
    mortgages with subordinate liens at the time of origination, the combined balance of the subordinate liens (if known).	Mortgage
    Lien Info	Numeric
    – Decimal	51775.12	9(10).99	If
    Lien Position = 1 and there is a 2nd lien on the subject property	>=
    0		Subject
    to Regulatory Confirmation
	24	Origination
    Date of Most Senior Lien	For non-first
    mortgages, the origination date of the associated first mortgage.	Mortgage
    Lien Info	Date	20090914	YYYYMMDD	If
    Lien Position > 1 and there is a 2nd lien on the subject property	“19010101”
    if unknown		
	25	Origination
    Date	The date
    of the Mortgage Note and Mortgage/Deed of Trust	Loan
    Term and Amortization Type	Date	20090914	YYYYMMDD	Always	“19010101”
    if unknown		
	26	Original
    Loan Amount	The dollar
    amount of the mortgage loan, as specified on the mortgage note at the time of the loan’s origination. For HELOCs, the
    maximum available line of credit.	Loan
    Term and Amortization Type	Numeric
    – Decimal	150000	9(10).99	Always	>0		
	27	Original
    Interest Rate	The original
    note rate as indicated on the mortgage note.	Loan
    Term and Amortization Type	Numeric
    – Decimal	0.0475	9.999999	Always	>
    0 and <= 1		
	28	Original
    Amortization Term	The number
    of months in which the loan would be retired if the amortizing principal and interest payment were to be paid each month.	Loan
    Term and Amortization Type	Numeric
    – Integer	360	999	Always	>=
    60		
	29	Original
    Term to Maturity	The initial
    number of months between loan origination and the loan maturity date, as specified on the mortgage note.	Loan
    Term and Amortization Type	Numeric
    – Integer	60	999	Always	>0	N/A	
	30	First
    Payment Date of Loan	The date
    of the first scheduled mortgage payment to be made by the borrower as specified on the mortgage note.	Loan
    Term and Amortization Type	Date	20090914	YYYYMMDD	Always	“19010101”
    if unknown	N/A	
	31	Interest
    Type Indicator	Indicates
    whether the interest rate calculation method is simple or actuarial.	Loan
    Term and Amortization Type	Numeric
    – Integer	2	99	Always	See
    Coding	1=
                                                                                        Simple

        2 = Actuarial

        99 = Unknown
	
	32	Original
    Interest Only Term	Original
    interest-only term for a loan in months (including NegAm Loans).	Loan
    Term and Amortization Type	Numeric
    – Integer	60	999	Always	>=
                                                                                        0 and <= 240

        Unknown
        = Blank;

        No
        Interest Only Term = 0
		
	33	Buy
    Down Period	The total
    number of months during which any buy down is in effect, representing the accumulation of all buy down periods.	Loan
    Term and Amortization Type	Numeric
    – Integer	65	999	Always	>=
                                                                                        0 and <= 100

        Unknown
        = Blank;

        No
        Buy Down = 0
		
	34	HELOC
    Draw Period	The original
    number of months during which the borrower may draw funds against the HELOC account.	Loan
    Term and Amortization Type	Numeric
    – Integer	24	999	HELOCs
    Only	>=
    12 and <= 120		
	35	Scheduled
    Loan Amount	Mortgage
    loan scheduled principal balance as of cut-off date. For HELOCs, the current drawn amount.	Loan
    Term and Amortization Type	Numeric
    – Decimal	248951.19	9(10).99	Always	>=
    0		
	36	Current
    Interest Rate	The interest
    rate used to calculate the current P&I or I/O payment.	Loan
    Term and Amortization Type	Numeric
    – Decimal	0.05875	9.999999	Always	>
    0 and <= 1		
	37	Current
    Payment Amount Due	Next Total
    Payment due to be collected (including principal, interest or both—but Exclude Escrow Amounts).	Loan
    Term and Amortization Type	Numeric
    – Decimal	1250.15	9(10).99	Always	>
    0		
	38	Scheduled
    Interest Paid
 Through Date		Loan
    Term and Amortization Type	Date	20090429	YYYYMMDD	Always	“19010101”
    if unknown		
	39	Current
    Payment Status	Number of
    payments the borrower is past due as of the securitization cut-off date.	Loan
    Term and Amortization Type	Numeric
    – Integer	3	99	Always	>=
    0		
	40	Index
    Type	Specifies
    the type of index to be used to determine the interest rate at each adjustment.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Integer	18	99	ARMs
    Only	See
    Coding	See
    Appendix B	
	41	ARM
    Look-back Days	The number
    of days prior to the interest rate adjustment date to retrieve the index value.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Integer	45	99	ARMs
    Only	>=
    0 to <=99		
	42	Gross
    Margin	The percentage
    stated on the mortgage note representing the spread between the ARM Index value and the mortgage interest rate. The gross
    mortgage margin is added to the index value to establish a new gross interest rate in the manner prescribed on the mortgage
    note.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.03	9.999999	ARMs
    Only	>0
    and <= 1		
	43	ARM
    Round Flag	An indicator
    of whether an adjusted interest rate is rounded to the next higher ARM round factor, to the next lower round factor, or to
    the nearest round factor.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Integer	3	9	ARMs
    Only	See
    Coding	0
                                                                                        = No Rounding

        1 = Up

        2 = Down

        3 = Nearest

        99=Unknown
	
	44	ARM
    Round Factor	The percentage
    to which an adjusted interest rate is to be rounded.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.0025
    or 0.00125	9.999999	ARMs
                                                                                        Only

        Where
        ARM Round Flag = 1, 2, or 3
	>=
    0 and < 1		
	45	Initial
    Fixed Rate Period	For hybrid
    ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Integer	60	999	Hybrid
    ARMs Only	>=
    1 to <=240		
	46	Initial
    Interest Rate Cap (Change Up)	The maximum
    percentage by which the mortgage note rate may increase at the first interest rate adjustment date.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.02	9.999999	ARMs
    Only	>=
    0 and <= 1	99=no cap	
	47	Initial
    Interest Rate Cap (Change Down)	The maximum
    percentage by which the mortgage note rate may decrease at the first interest rate adjustment date.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.02	9.999999	ARMs
    Only	>=
    0 and <= 1	99=no cap	
	48	Subsequent
    Interest Rate Reset Period	The number
    of months between subsequent rate adjustments.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Integer	60	999	ARMs
    Only	>=0
    and <= 120		0
    = Loan does not adjust after initial reset
	49	Subsequent
    Interest Rate (Change Down)	The maximum
    percentage by which the interest rate may decrease at each rate adjustment date after the initial adjustment.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.02	9.999999	ARMs
    Only	>=
    0 and <= 1	99=no cap	
	50	Subsequent
    Interest Rate Cap (Change Up)	The maximum
    percentage by which the interest rate may increase at each rate adjustment date after the initial adjustment.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.02	9.999999	ARMs
    Only	>=
    0 and <= 1	99=no cap	
	51	Lifetime
    Maximum Rate (Ceiling)	The maximum
    interest rate that can be in effect during the life of the loan.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.125	9.999999	ARMs
    Only	>=
    0 and <= 1		=1
    if no ceiling specified
	52	Lifetime
    Minimum Rate (Floor)	The minimum
    interest rate that can be in effect during the life of the loan.	Adjustable
    Rate Mortgages (ARMs)	Numeric
    – Decimal	0.015	9.999999	ARMs
    Only	>=
    0 and <= 1		If
    no floor is specified enter the greater of the margin or 0.
	53	Negative
    Amortization Limit	The maximum
    amount of negative amortization allowed before recast is required. (Expressed as a percentage of the original unpaid principal
    balance.)	Negative
    Amortization	Numeric
    – Decimal	1.25	9.999999	Negatively
    Amortizing ARMs Only	>=0,
    and <2		
	54	Initial
    Negative Amortization Recast Period	The number
    of months in which the payment is required to recast if the loan does not reach the prescribed maximum balance earlier.	Negative
    Amortization	Numeric
    – Integer	60	999	Negatively
    Amortizing ARMs Only	>=0		
	55	Subsequent
    Negative Amortization Recast Period	The number
    of months after which the payment is required to recast AFTER the first recast period.	Negative
    Amortization	Numeric
    – Integer	48	999	Negatively
    Amortizing ARMs Only	>=0		
	56	Initial
    Fixed Payment Period	Number of
    months after origination during which the payment is fixed.	Negative
    Amortization	Numeric
    – Integer	60	999	Negatively
    Amortizing Hybrid ARMs Only	>=
    0 to <=120		
	57	Subsequent
    Payment Reset Period	Number of
    months between payment adjustments after first payment reset.	Negative
    Amortization	Numeric
    – Integer	12	999	Negatively
    Amortizing ARMs Only	>=
    0 to <=120		
	58	Initial
    Periodic Payment Cap	The maximum
    percentage by which a payment can change (increase or decrease) in the first period.	Negative
    Amortization	Numeric
    – Decimal	0.075	9.999999	Negatively
    Amortizing ARMs Only	>=
    0 and < 1		
	59	Subsequent
    Periodic Payment Cap	The maximum
    percentage by which a payment can change (increase or decrease) in one period after the initial cap.	Negative
    Amortization	Numeric
    – Decimal	0.075	9.999999	Negatively
    Amortizing ARMs Only	>=
    0 and < 1		
	60	Initial
    Minimum Payment Reset Period	The maximum
    number of months a borrower can initially pay the minimum payment before a new minimum payment is determined.	Negative
    Amortization	Numeric
    – Integer	12	999	Negatively
    Amortizing ARMs Only	>=
    0 to <=120		
	61	Subsequent
    Minimum Payment Reset Period	The maximum
    number of months (after the initial period) a borrower can pay the minimum payment before a new minimum payment is determined
    after the initial period.	Negative
    Amortization	Numeric
    – Integer	12	999	Negatively
    Amortizing ARMs Only	>=
    0 to <=120		
	62	Option
    ARM Indicator	An indicator
    of whether the loan is an Option ARM.	Negative
    Amortization	Numeric
    – Integer	1	99	ARMs
    Only	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	63	Options
    at Recast	The means
    of computing the lowest monthly payment available to the borrower after recast.	Option
    ARM	Numeric
    – Integer	2	99	Option
    ARMs Only	N/A	1=
                                                                                        Fully amortizing 30 year

        2= Fully amortizing 15
        year

        3=Fully amortizing 40
        year

        4 = Interest-Only

        5 = Minimum Payment

        99= Unknown
	
	64	Initial
    Minimum Payment	The initial
    minimum payment the borrower is permitted to make.	Option
    ARM	Numeric
    – Decimal	879.52	99	Option
    ARMs Only	>=0		
	65	Current
    Minimum Payment	Current Minimum
    Payment (in dollars).	Negative
    Amortization	Numeric
    – Decimal	250	9(10).99	Option
    ARMs Only	>=
    0		
	66	Prepayment
    Penalty Calculation	A description
    of how the prepayment penalty would be calculated during each phase of the prepayment penalty term.	Prepayment
    Penalties	Numeric
    – Integer	12	99	Always	See
    Coding	See
    Appendix C	
	67	Prepayment
    Penalty Type	•
                                                                                        Hard: The prepayment penalty
                                                                                        is incurred regardless of the reason the
                                                                                        loan is prepaid in full.

        • Hybrid:
        The prepayment penalty can be characterized as hard for a certain amount of time and as soft during another period.
	Prepayment
    Penalties	Numeric
    – Integer	1	99	All
    loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)	See
    Coding	1
                                                                                        = Hard

        2 = Soft

        3 = Hybrid

        99 = Unknown
	
	68	Prepayment
    Penalty Total Term	The total
    number of months that the prepayment penalty may be in effect.	Prepayment
    Penalties	Numeric
    – Integer	60	999	All
    loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)	>0
    to <=120		
	69	Prepayment
    Penalty Hard Term	For hybrid
    prepayment penalties, the number of months during which a “hard” prepayment penalty applies.	Prepayment
    Penalties	Numeric
    – Integer	12	999	Loans
    with Hybrid Prepayment Penalties (i.e., loans for which Field 67 = “3”)	>=
    0 to <=120		
	70	Primary
    Borrower ID	A lender-generated
    ID number for the primary borrower on the mortgage	Borrower	Numeric—Integer	123456789	999999999	Always	>0	 	Used
    to identify the number of times a single borrower appears in a given deal.
	71	Number
    of Mortgaged Properties	The number
    of residential properties owned by the borrower that currently secure mortgage loans.	Borrower	Numeric
    – Integer	1	99	Always	>
    0		
	72	Total
    Number of Borrowers	The number
    of Borrowers who are obligated to repay the mortgage note.	Borrower	Numeric
    – Integers	2	99	Always	>
    0		
	73	Self-employment
    Flag	An indicator
    of whether the primary borrower is self-employed.	Borrower	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	74	Current
    ‘Other’ Monthly Payment	The aggregate
    of all payments pertaining to the subject property other than principal and interest (includes common charges, condo fees,
    T&I, HOA, etc.), whether escrowed or not.	Loan
    Term and Amortization Type	Numeric
    – Decimal	1789.25	9(10).99	Always	>
    0		
	75	Length
    of Employment: Borrower	The number
    of years of service with the borrower’s current employer as of the date of the loan.	Borrower
    Qualification	Numeric
    – Decimal	3.5	99.99	Always	>=0	99 = Retired,
    None employment income soure (social security, trust income, dividends, etc.)	
	76	Length
    of Employment: Co-Borrower	The number
    of years of service with the co-borrower’s current employer as of the date of the loan.	Borrower
    Qualification	Numeric
    – Decimal	3.5	99.99	If
    “Total Number of Borrowers” > 1	>=
    0	99 = Retired,
    None employment income soure (social security, trust income, dividends, etc.)	
	77	Years
    in Home	Length of
    time that the borrower has been at current address.	Borrower
    Qualification	Numeric
    – Decimal	14.5	99.99	Refinances
    of Primary Residences Only (Loan Purpose = 1, 2, 3, 4, 8 or 9)	>
    0		
	78	FICO
    Model Used	Indicates
    whether the FICO score was calculated using the Classic, Classic 08, or Next Generation model.	Borrower
    Qualification	Numeric
    – Integer	1	99	If
    a FICO score was obtained	See
    Coding	1
                                                                                        = Classic

        2 = Classic 08

        3 = Next Generation

        99 = Unknown
	
	79	Most
    Recent FICO Date	Specifies
    the date on which the most recent FICO score was obtained	Borrower
    Qualification	Date	20090914	YYYYMMDD	If
    a FICO score was obtained	“19010101”
    if unknown		Issuers
    unable to Provide may Rep and Warrant that the FICO score used for underwriting was not more than 4 months old at the date
    of issuance.
	80	Primary
    Wage Earner Original FICO: Equifax	Equifax FICO
    score for primary borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a FICO score was obtained	>=
    350 and <= 850		
	81	Primary
    Wage Earner Original FICO: Experian	Experian
    FICO score for primary borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a FICO score was obtained	>=
    350 and <= 850		
	82	Primary
    Wage Earner Original FICO: TransUnion	TransUnion
    FICO score for primary borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a FICO score was obtained	>=
    350 and <= 850		
	83	Secondary
    Wage Earner Original FICO: Equifax	Equifax FICO
    score for Co-borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    “Total Number of Borrowers” > 1	>=
    350 and <= 850		
	84	Secondary
    Wage Earner Original FICO: Experian	Experian
    FICO score for Co-borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    “Total Number of Borrowers” > 1	>=
    350 and <= 850		
	85	Secondary
    Wage Earner Original FICO: TransUnion	TransUnion
    FICO score for Co-borrower (if applicable).	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    “Total Number of Borrowers” > 1	>=
    350 and <= 850		
	86	Most
    Recent Primary Borrower FICO	Most Recent
    Primary Borrower FICO score used by the lender to approve the loan.	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a FICO score was obtained	>=
    350 and <= 850		
	87	Most
    Recent Co-Borrower FICO	Most Recent
    Co-Borrower FICO score used by the lender to approve the loan.	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    “Total Number of Borrowers” > 1	>=
    350 and <= 850		
	88	Most
    Recent FICO Method	Number of
    credit repositories used to update the FICO Score.	Borrower
    Qualification	Numeric
    – Integer	2	9	If
    a FICO score was obtained	>0		
	89	VantageScore:
    Primary Borrower	Credit Score
    for the Primary Borrower used to approve the loan and obtained using the Vantage credit evaluation model.	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a Vantage Credit Score was obtained	>=
    501 and <= 990		
	90	VantageScore:
    Co-Borrower	Credit Score
    for the Co-borrower used to approve the loan and obtained using the Vantage credit evaluation model.	Borrower
    Qualification	Numeric
    – Integer	720	9999	If
    a VantageScore was obtained AND “Total Number of Borrowers” > 1	>=
    501 and <= 990		
	91	Most
    Recent VantageScore Method	Number of
    credit repositories used to update the Vantage Score.	Borrower
    Qualification	Numeric
    – Integer	2	9	If
    a Vantage Credit Score was obtained	>0		
	92	VantageScore
    Date	Date Vantage
    Credit Score was obtained.	Borrower
    Qualification	Date	20090914	YYYYMMDD	If
    a Vantage Credit Score was obtained	“19010101”
    if unknown		
	93	Credit
    Report: Longest Trade Line	The length
    of time in months that the oldest active trade line, installment or revolving, has been outstanding. For a loan with more
    than one borrower, populate field based on status for the primary borrower.	Borrower
    Qualification	Numeric
    – Integer	999	999	Always	>
    =0		Subject
    to Regulatory Confirmation
	94	Credit
    Report: Maximum Trade Line	The dollar
    amount for the trade line, installment or revolving, with the largest unpaid balance. For revolving lines of credit, e.g.
    credit card, the dollar amount reported should reflect the maximum amount of credit available under the credit line whether
    used or not. For a loan with more than one borrower, populate field based on status for the primary borrower.	Borrower
    Qualification	Numeric
    – Decimal	339420.19	9(10).99	Always	>=0		Subject
    to Regulatory Confirmation
	95	Credit
    Report: Number of Trade Lines	A count of
    non-derogatory, currently open and active, consumer trade lines (installment or revolving) for the borrower. For a loan with
    more than one borrower, populate field based on status for the primary borrower.	Borrower
    Qualification	Numeric
    – Integer	57	999	Always	>=0		Subject
    to Regulatory Confirmation
	96	Credit
    Line Usage Ratio	Sum of credit
    balances divided by sum of total open credit available.	Borrower
    Qualification	Numeric
    – Decimal	0.27	9.999999	Always	>=
    0 and <= 1		Subject
    to Regulatory Confirmation
	97	Most
    Recent 12-month Pay History	String indicating
    the payment status per month listed from oldest to most recent.	Borrower
    Qualification	Text	77X123200001	X(12)	Always	See
    Coding	0
                                                                                        = Current

        1 = 30-59 days delinquent

        2 = 60-89 days delinquent

        3 = 90-119 days delinquent

        4 = 120+ days delinquent

        5 = Foreclosure

        6 = REO

        7 = Loan did not exist
        in period

        X = Unavailable
	
	98	Months
    Bankruptcy	Number of
    months since any borrower was discharged from bankruptcy. (Issuers unable to provide this information may rep and warrant
    that at least x years—as specified in the loan program—have passed since most recent discharge from bankruptcy.)	Borrower
    Qualification	Numeric
    – Integer	12	999	If
    Borrower has ever been in Bankruptcy	>=
    0		Blank
    = Borrower is not known to have been in bankruptcy
	99	Months
    Foreclosure	Number of
    months since foreclosure sale date. (Issuers unable to provide this information may rep and warrant that at least x years—as
    specified in the loan program— have passed since most recent foreclosure.)	Borrower
    Qualification	Numeric
    – Integer	12	999	If
    Borrower has ever been in Foreclosure	>=
    0		Blank
    = Borrower is not known to have been in foreclosure
	100	Primary
    Borrower Wage Income	Monthly base
    wage income for primary borrower.	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	Always	>=
    0		
	101	Co-Borrower
    Wage Income	Monthly base
    wage income for all other borrowers.	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	If
    “Total Number of Borrowers” > 1	>=
    0		
	102	Primary
    Borrower Other Income	Monthly Other
    (non-wage) income for primary borrower. (This figure should include net rental income and be reduced by any net rental loss.)	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	Always	>=
    0		
	103	Co-Borrower
    Other Income	Monthly Other
    (non-wage) income for all other borrowers. (This figure should include net rental income and be reduced by any net rental
    loss.)	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	If
    “Total Number of Borrowers” > 1	>=
    0		
	104	All
    Borrower Wage Income	Monthly income
    of all borrowers derived from base salary only.	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	Always	>=
    0		
	105	All
    Borrower Total Income	Monthly income
    of all borrowers derived from base salary, commission, tips and gratuities, overtime and bonuses, part-time or second-job
    earnings, alimony, child support, interest and dividend income, notes receivable, trust income, net rental income,
    retirement income, social security, veterans income, military income, foster care income, and self-employed income.	Borrower
    Qualification	Numeric
    – Decimal	9000	9(9).99	Always	>=
    0		
	106	4506-T
    Indicator	A yes/no
    indicator of whether a Transcript of Tax Return (received pursuant to the filing of IRS Form 4506-T) was obtained and considered.	Borrower
    Qualification	Numeric
    – Integer	1	99	Always	See
    Coding	0
                                                                                        = No

        1 = Yes

        99 = Unknown
	
	107	Borrower
    Income Verification Level	A
                                                                                        code indicating the extent to which the
                                                                                        borrower’s income has been verified:

        Level
        4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if
        salaried)

        Level
        5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)

        *For self-employed
        borrowers: Level 4 Income Verification:

        • 2 Years Tax Returns

        • Self-prepared tax returns (regardless of 4506 and tax transcripts)

        

        ** For self-employed borrowers: Level 5 Income Verification:

        • 2 Years tax returns

        • Tax returns prepared and not executed by a CPA, with

        o CPA name & phone number shown on the Preparer section of the tax return

        o Executed 4506 and tax transcripts (matching returns in file)

• Tax returns prepared and executed by a CPA (regardless of 4506 and tax transcripts)
	Borrower
    Qualification	Numeric
    – Integer	1	9	Always	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, “Partially”
        Verified

        4 = Stated, “Level
        4” Verified (as defined)

        5 = Stated, “Level
        5” Verified (as defined)

        
	
	108	Co-Borrower
    Income Verification	A
                                                                                        code indicating the extent to which the
                                                                                        co-borrower’s income has been verified:

        

        Level 4 Income Verification
        = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)

        

        Level 5 Income Verification
        = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)

        *For self-employed borrowers:
        Level 4 Income Verification:

        • 2 Years Tax Returns

        • Self-prepared tax returns (regardless of 4506 and tax transcripts)

        

        ** For self-employed borrowers: Level 5 Income Verification:

        • 2 Years tax returns

        • Tax returns prepared and not executed by a CPA, with

        o CPA name & phone number shown on the Preparer section of the tax return

        o Executed 4506 and tax transcripts (matching returns in file)

        • Tax returns prepared and executed by a CPA (regardless of 4506 and tax transcripts)
	Borrower
    Qualification	Numeric
    – Integer	2	9	If
    “Total Number of Borrowers” > 1	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, “Partially”
        Verified

        4 = Stated, “Level
        4” Verified (as defined)

        5 = Stated, “Level
        5” Verified (as defined)

        
	

        

	109	Borrower
    Employment Verification	A
                                                                                        code indicating the extent to which the
                                                                                        primary borrower’s employment has
                                                                                        been verified:

        

        Level 3 Verified = Direct
        Independent Verification with a third party of the borrower’s current employment.
	Borrower
    Qualification	Numeric
    – Integer	2	9	Always	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, Level 3 Verified
        (as defined)
	
	110	Co-Borrower
    Employment Verification	A
                                                                                        code indicating the extent to which the
                                                                                        co-borrower’s employment has been
                                                                                        verified:

        

        Level 3 Verified = Direct
        Independent Verification with a third party of the co-borrower’s current employment.
	Borrower
    Qualification	Numeric
    – Integer	1	9	If
    “Total Number of Borrowers” > 1	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, Level 3 Verified
        (as defined)
	
	111	Borrower
    Asset Verification	A
                                                                                        code indicating the extent to which the
                                                                                        primary borrower’s assets used to
                                                                                        qualify the loan have been verified:

        

        Level 4 Verified = 2 months
        of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).

        
	Borrower
    Qualification	Numeric
    – Integer	3	9	Always	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, “Partially”
        Verified

        4 = Stated, Level 4 Verified
        (as defined)
	
	112	Co-Borrower
    Asset Verification	A
                                                                                        code indicating the extent to which the
                                                                                        co-borrower’s assets used to qualify
                                                                                        the loan have been verified:

        

        Level 4 = 2 months of
        bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).

        
	Borrower
    Qualification	Numeric
    – Integer	2	9	If
    “Total Number of Borrowers” > 1	See
    Coding	1
                                                                                        = Not Stated, Not Verified

        2 = Stated, Not Verified

        3 = Stated, “Partially”
        Verified

        4 = Stated, Level 4 Verified
        (as defined)
	
	113	Liquid
    / Cash Reserves	The actual
    dollar amount of remaining verified liquid assets after settlement. (This should not include cash out amount of subject loan.)	Borrower
    Qualification	Numeric
    – Decimal	3242.76	9(9).99	Always	>=
    0		
	114	Monthly
    Debt All Borrowers	The aggregate
    monthly payment due on other debt (excluding only installment loans with fewer than 10 payments remaining and other real estate
    loans used to compute net rental income-- which is added/subtracted in the income fields).	Borrower
    Qualification	Numeric
    – Decimal	3472.43	9(9).99	Always	>=
    0		
	115	Originator
    DTI	Total Debt
    to income ratio used by the originator to qualify the loan.	Borrower
    Qualification	Numeric
    – Decimal	0.35	9.999999	Always	>=
    0 and >= 1		
	116	Fully
    Indexed Rate	The fully
    indexed interest rate as of securitization cut-off.	Borrower
    Qualification	Numeric
    – Decimal	0.0975	9.999999	ARMs
    Only	>=
    0 and >= 1		
	117	Qualification
    Method	Type of mortgage
    payment used to qualify the borrower for the loan.	Borrower
    Qualification	Numeric
    – Integer	3	99	Always	See
    Coding	1
                                                                                        = Start Rate

        2 = First Year Cap Rate

        3 = I/O Amount

        4 = Fully Indexed

        5 = Min Payment

        98 = Other

        99 = Unknown
	
	118	Percentage
    of Down Payment from Borrower Own Funds	Include only
    borrower funds, do not include any gift or borrowed funds. (Issuers may provide the actual percentage for each loan, or
    the guideline percentage and note departure concentration on the transaction summary.)	Borrower
    Qualification	Numeric
    – Decimal	0.5	9.999999	Purchase
    Loans Only	>=
    0 and >= 1		
	119	City	The name
    of the city.	Subject
    Property	Text	New
    York	X(45)	Always	Unk=Unknown		
	120	State	The name
    of the state as a 2-digit Abbreviation.	Subject
    Property	Text	NY	XX	Always	See
    Coding	See
    Appendix H	
	121	Postal
    Code	The postal
    code (zip code in the US) where the subject property is located.	Subject
    Property	Text	10022	X(5)	Always	Unk=Unknown		
	122	Property
    Type	Specifies
    the type of property being used to secure the loan.	Subject
    Property	Numeric
    – Integer	11	99	Always	See
    Coding	See
    Appendix D	
	123	Occupancy	Specifies
    the property occupancy status (e.g., owner-occupied, investment property, second home, etc.).	Subject
    Property	Numeric
    – Integer	4	9	Always	See
    Coding	See
    Appendix E	
	124	Sales
    Price	The negotiated
    price of a given property between the buyer and seller.	Subject
    Property	Numeric
    – Decimal	450000.23	9(10).99	Purchase
    Loans Only	>
    0		
	125	Original
    Appraised Property Value	The appraised
    value of the property used to approve the loan.	Subject
    Property	Numeric
    – Decimal	550000.23	9(10).99	Always	>
    0		
	126	Original
    Property Valuation Type	Specifies
    the method by which the property value (at the time of underwriting) was reported.	Subject
    Property	Numeric
    – Integer	8	99	Always	See
    Coding	See
    Appendix F	
	127	Original
    Property Valuation Date	Specifies
    the date on which the original property value (at the time of underwriting) was reported. (Issuers unable to provide may
    Rep and Warrant that the appraisal used for underwriting was not more than x days old at time of loan closing.)	Subject
    Property	Date	20090914	YYYYMMDD	Always	“19010101”
    if unknown		
	128	Original
    Automated Valuation Model (AVM) Model Name	The name
    of the AVM Vendor if an AVM was used to determine the original property valuation.	Subject
    Property	Numeric
    – Integer	1	99	Always	See
    Appendix I	See
    Appendix I	
	129	Original
    AVM Confidence Score	The confidence
    range presented on the AVM report.	Subject
    Property	Numeric
    – Decimal	0.74	9.999999	If
    AVM Model Name (Field 127) > 0	>=
    0 to <= 1		
	130	Most
    Recent Property Value[1]	If a valuation
    was obtained subsequent to the valuation used to calculate LTV, the most recent property value.	Subject
    Property	Numeric
    – Decimal	500000	9(10).99	If
    updated value was obtained subsequent to loan approval	>
    0		
	131	Most
    Recent Property Valuation Type	If an additional
    property valuation was obtained after the valuation used for underwriting purposes, the method by which the property value
    was reported.	Subject
    Property	Numeric
    – Integer	6	9	If
    updated value was obtained subsequent to loan approval	See
    Coding	See
    Appendix F	
	132	Most
    Recent Property Valuation Date	Specifies
    the date on which the updated property value was reported.	Subject
    Property	Date	20090914	YYYYMMDD	If
    updated value was obtained subsequent to loan approval	“19010101”
    if unknown		
	133	Most
    Recent AVM Model Name	The name
    of the AVM Vendor if an AVM was used to determine the updated property valuation.	Subject
    Property	Numeric
    – Integer	19	99	If
    updated value was obtained subsequent to loan approval	See
    Coding	See
    Appendix I	
	134	Most
    Recent AVM Confidence Score	If AVM used
    to determine the updated property valuation, the confidence range presented on the AVM report.	Subject
    Property	Numeric
    – Decimal	0.85	9.999999	If
    “Most Recent AVM Model Name” > 0	>=
    0 to <= 1		
	135	Original
    CLTV	The ratio
    obtained by dividing the amount of all known outstanding mortgage liens on a property at origination by the lesser of the
    appraised value or the sales price. The value is then truncated to four decimal places.	Loan-to-Value
    (LTV)	Numeric
    – Decimal	0.96	9.999999	Always	>=
    0 and <= 1.5		
	136	Original
    LTV	The ratio
    obtained by dividing the original mortgage loan amount on the note date by the lesser of the mortgaged property’s appraised
    value on the note date or its purchase price. The value is then truncated to four decimal places.	Loan-to-Value
    (LTV)	Numeric
    – Decimal	0.8	9.999999	Always	>=
    0 and <= 1.25		
	137	Original
    Pledged Assets	The total
    value of assets pledged as collateral for the loan at the time of origination. Pledged assets may include cash or marketable
    securities.	Loan-to-Value
    (LTV)	Numeric
    – Decimal	75000	9(10).99	Always	>=0		
	138	Mortgage
    Insurance Company Name	The name
    of the entity providing mortgage insurance for a loan.	Mortgage
    Insurance	Numeric
    – Integer	3	99	Always	See
    Coding	See
    Appendix G	
	139	Mortgage
    Insurance Percent	Mortgage
    Insurance coverage percentage.	Mortgage
    Insurance	Numeric
    – Decimal	0.25	9.999999	“Mortgage
    Insurance Company Name” > 0	>=
    0 to <= 1		
	140	MI:
    Lender or Borrower Paid?	An indicator
    of whether mortgage insurance is paid by the borrower or the lender.	Mortgage
    Insurance	Numeric
    – Integer	1	99	“Mortgage
    Insurance Company Name” > 0	See
    Coding	1
                                                                                        = Borrower-Paid

        2 = Lender- Paid

        99 = Unknown
	
	141	Pool
    Insurance Co. Name	Name of pool
    insurance provider.	Mortgage
    Insurance	Numeric
    – Integer	8	99	Always	See
    Coding	See
    Appendix G	
	142	Pool
    Insurance Stop Loss %	The aggregate
    amount that a pool insurer will pay, calculated as a percentage of the pool balance.	Mortgage
    Insurance	Numeric
    – Decimal	0.25	9.999999	Pool
    MI Company > 0	>=
    0 to <= 1		
	143	MI
    Certificate Number	The unique
    number assigned to each individual loan insured under an MI policy.	Mortgage
    Insurance	Text	123456789G	X(20)	MI
                                                                                        Company

        >
        0
	UNK
    = Unknown		
	144	Updated
                                                                                        DTI

        (Front-end)
	Updated front-end
    DTI ratio (total monthly housing expense divided by total monthly income) used to qualify the loan modification.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	0.35	9.999999	Modified
    Loans Only	>=
    0 and >= 1		
	145	Updated
                                                                                        DTI

        (Back-end)
	Updated back-end
    DTI ratio (total monthly debt expense divided by total monthly income) used to qualify the loan modification.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	0.35	9.999999	Modified
    Loans Only	>=
    0 and >= 1		
	146	Modification
    Effective Payment Date	Date of first
    payment due post modification.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Date	20090914	YYYYMMDD	Modified
    Loans Only	“19010101”
    if unknown		
	147	Total
    Capitalized Amount	Amount added
    to the principal balance of a loan due to the modification.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	12000	9(10).99	Modified
    Loans Only	>=
    0		
	148	Total
    Deferred Amount	Any non-interest-bearing
    deferred amount (e.g., principal, interest and fees).	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	12000	9(10).99	Modified
    Loans Only	>=
    0		
	149	Pre-Modification
    Interest (Note) Rate	Scheduled
    Interest Rate Of The Loan Immediately Preceding The Modification Effective Payment Date.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	0.075	9.999999	Modified
    Loans Only	>=
    0 to <= 1		
	150	Pre-Modification
    P&I Payment	Scheduled
    Total Principal And Interest Payment Amount Preceding The Modification Effective Payment Date – or if servicer is no
    longer advancing P&I, the payment that would be in effect if the loan were current.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	2310.57	9(10).99	Modified
    Loans Only	>
    0		
	151	Pre-Modification
    Initial Interest Rate Change Downward Cap	Maximum amount
    the rate can adjust downward on the first interest rate adjustment date (prior to modification) – Only provide if the
    rate floor is modified.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	0.015	9.999999	Modified
    Loans Only	>=
    0 to <= 1		
	152	Pre-Modification
    Subsequent Interest Rate Cap	Maximum increment
    the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	0.015	9.999999	Modified
    Loans Only	>=
    0 to <= 1		
	153	Pre-Modification
    Next Interest Rate Change Date	Next Interest
    Reset Date Under The Original Terms Of The Loan (one month prior to new payment due date).	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Date	20090914	YYYYMMDD	Modified
    Loans Only	“19010101”
    if unknown		
	154	Pre-Modification
    I/O Term	Interest
    Only Term (in months) preceding The Modification Effective Payment Date.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Integer	36	999	Modified
    Loans Only	>=
    0 to <= 120		
	155	Forgiven
    Principal Amount	The sum total
    of all principal balance reductions (as a result of loan modification) over the life of the loan.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	12000	9(10).99	Modified
    Loans Only	>=
    0		
	156	Forgiven
    Interest Amount	The sum total
    of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Decimal	12000	9(10).99	Modified
    Loans Only	>=
    0		
	157	Number
    of Modifications	The number
    of times the loan has been modified.	Loan
    Modifications (Pertains only to loans modified for loss mitigation purposes)	Numeric
    – Integer	1	9	Modified
    Loans Only	>=
    0		
	158	Cash
    To/From Brrw at Closing	Indicates
    the amount of cash the borrower(s) paid into or received at closing. 
 
 [HUD-1 Bottom Line] + [Earnest money] + [Paid
    Outside Closing Items]		Numeric
    – Decimal	100000.01	9(10).99				
	159	Brrw
    - Yrs at in Industry	Number of
    years the primary borrower has been working in their current industry		Numeric
    – Decimal	9.9	9.999999				
	160	CoBrrw
    - Yrs at in Industry	Number of
    years the co-borrower has been working in their current industry		Numeric
    – Decimal	8	9.999999				
	161	Junior
    Mortgage Drawn Amount	Applicable
    if the subject loan is a first mortgage. At the time of origination for the subject loan, the sum of the outstanding balance(s)
    for any junior mortgages (HELOCs and closed-end).		Numeric
    – Decimal	100000.01	9(10).99				
	162	Maturity
    Date	Maturity
    date of mortgage		Date	20420501	YYYYMMDD				
	163	Primary
    Borrower Wage Income (Salary)	The primary
    borrower's salary wage income		Numeric
    – Decimal	10000.44	9(10).99				
	164	Primary
    Borrower Wage Income (Bonus)	The primary
    borrower's bonus wage income		Numeric
    – Decimal	10000.44	9(10).99				
	165	Primary
    Borrower Wage Income (Commission)	The primary
    borrower's commission wage income		Numeric
    – Decimal	10000.44	9(10).99				
	166	Co-Borrower
    Wage Income (Salary)	The coborrower's
    salary wage income		Numeric
    – Decimal	10000.44	9(10).99				
	167	Co-Borrower
    Wage Income (Bonus)	The coborrower's
    bonus wage income		Numeric
    – Decimal	10000.44	9(10).99				
	168	Co-Borrower
    Wage Income (Commission)	The coborrower's
    commission wage income		Numeric
    – Decimal	10000.44	9(10).99				
	169	Originator
    Doc Code	Documentation
    Code value as presented by the seller.		Text	Full	XXXX				
	170	RWT
    Income Verification	Internal
    Redwood Derived field. Due Diligence / Trade Desk derived value indicating the level of primary borrower asset verification		Text	2
    Years	XXXX				
	171	RWT
    Asset Verification	Internal
    Redwood Derived field. Due Diligence / Trade Desk derived value indicating the level of primary borrower Income verification		Text	2
    Months	XXXX				
	MH-1	Real
    Estate Interest	Indicates
    whether the property on which the manufactured home is situated is owned outright or subject to the terms of a short- or long-term
    lease. (A long-term lease is defined as a lease whose term is greater than or equal to the loan term.)	Manufactured
    Housing	Numeric
    – Integer	2	99	Manufactured
    Housing Loans Only	See
    Coding	1
                                                                                        = Owned

        2 = Short-term lease

        3 = Long-term lease

        99 = Unavailable
	
	MH-2	Community
    Ownership Structure	If the manufactured
    home is situated in a community, a means of classifying ownership of the community.	Manufactured
    Housing	Numeric
    – Integer	2	99	Manufactured
    Housing Loans Only	See
    Coding	1
                                                                                        = Public Institutional

        2 = Public Non-Institutional

        3 = Private Institutional

        4 = Private Non-Institutional

        5 = HOA-Owned

        6 = Non-Community

        99 = Unavailable
	
	MH-3	Year
    of Manufacture	The year
    in which the home was manufactured (Model Year -- YYYY Format). Required only in cases where a full appraisal is not provided.	Manufactured
    Housing	Numeric
    – Integer	2006	YYYY	Manufactured
    Housing Loans Only	1901
    = Unavailable		
	MH-4	HUD
    Code Compliance Indicator (Y/N)	Indicates
    whether the home was constructed in accordance with the 1976 HUD code. In general, homes manufactured after 1976 comply with
    this code.	Manufactured
    Housing	Numeric
    – Integer	1	9	Manufactured
    Housing Loans Only	See
    Codes	0
                                                                                        = No

        1 = Yes

        99 = Unavailable
	
	MH-5	Gross
    Manufacturer’s Invoice Price	The total
    amount that appears on the manufacturer’s invoice (typically includes intangible costs such as transportation, association,
    on-site setup, service and warranty costs, taxes, dealer incentives, and other fees).	Manufactured
    Housing	Numeric
    – Decimal	72570.62	9(10).99	Manufactured
    Housing Loans Only	>=
    0		
	MH-6	LTI
    (Loan-to-Invoice) Gross	The ratio
    of the loan amount divided by the Gross Manufacturer’s Invoice Price (Field MH-5).	Manufactured
    Housing	Numeric
    – Decimal	0.75	9.999999	Manufactured
    Housing Loans Only	>=
    0 to <= 1		
	MH-7	Net
    Manufacturer’s Invoice Price	The Gross
    Manufacturer’s Invoice Price (Field MH-5) minus intangible costs, including: transportation, association,
    on-site setup, service, and warranty costs, taxes, dealer incentives, and other fees.	Manufactured
    Housing	Numeric
    – Decimal	61570.62	9(10).99	Manufactured
    Housing Loans Only	>=
    0		
	MH-8	LTI
    (Net)	The ratio
    of the loan amount divided by the Net Manufacturer’s Invoice Price (Field MH-7).	Manufactured
    Housing	Numeric
    – Decimal	0.62	9.999999	Manufactured
    Housing Loans Only	>=
    0 to <= 1		
	MH-9	Manufacturer
    Name	The manufacturer
    of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is available.)	Manufactured
    Housing	Text	“XYZ
    Corp”	Char
    (100)	Manufactured
    Housing Loans Only (where no appraised value is provided)	MH
    Manufacturer name in double quotation marks		
	MH-10	Model
    Name	The model
    name of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is
    available.)	Manufactured
    Housing	Text	“DX5-916-X”	Char
    (100)	Manufactured
    Housing Loans Only (where no appraised value is provided)	MH
    Model name in double quotation marks		
	MH-11	Down
    Payment Source	An indicator
    of the source of the down payment used by the borrower to acquire the property and qualify for the mortgage.	Manufactured
    Housing	Numeric
    – Integer	2	99	Manufactured
    Housing Loans Only	See
    Codes	1
                                                                                        = Cash

        2 = Proceeds from trade
        in

        3 = Land in Lieu

        4 = Other

        99 = Unavailable
	
	MH-12	Community/Related
    Party Lender (Y/N)	An indicator
    of whether the loan was made by the community owner, an affiliate of the community owner or the owner of the real estate upon
    which the collateral is located.	Manufactured
    Housing	Numeric
    – Integer	1	99	Manufactured
    Housing Loans Only	See
    Codes	0
                                                                                        = No

        1 = Yes

        99 = Unavailable
	
	MH-13	Defined
    Underwriting Criteria (Y/N)	An indicator
    of whether the loan was made in accordance with a defined and/or standardized set of underwriting criteria.	Manufactured
    Housing	Numeric
    – Integer	1	99	Manufactured
    Housing Loans Only	See
    Codes	0
                                                                                        = No

        1 = Yes

        99 = Unavailable
	
	MH-14	Chattel
    Indicator	An Indicator
    of whether the secured property is classified as chattel or Real Estate.	Manufactured
    Housing	Numeric
    – Integer	1	99	Manufactured
    Housing Loans Only	See
    Codes	0 = Real
    Estate

    1 = Chattel

    99 = Unavailable	 

 

 

    	 

    	 

    

 

ATTACHMENT 2

 

PURCHASE AGREEMENTEXHIBIT 10.16

 

EXECUTION COPY

 

SEQUOIA MORTGAGE TRUST 2012-5

MORTGAGE PASS-THROUGH CERTIFICATES

 

MORTGAGE LOAN PURCHASE AND SALE AGREEMENT

 

Between

 

REDWOOD RESIDENTIAL ACQUISITION CORPORATION,

 

and

 

SEQUOIA RESIDENTIAL FUNDING, INC.

 

dated as of October 30, 2012

 

 

    	 

    	 

    

 

MORTGAGE LOAN PURCHASE AND SALE AGREEMENT

 

This Mortgage Loan
Purchase and Sale Agreement (the “Agreement”) is made as of October 30, 2012, by and between Redwood Residential
Acquisition Corporation, a Delaware corporation (“RRAC”), and Sequoia Residential Funding, Inc., a Delaware
corporation (“Sequoia”).

 

WHEREAS, the parties
hereto desire to provide for the purchase and sale of the Mortgage Loans on the date hereof (the “Closing Date”)
in accordance with the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, the
parties in consideration of good and valuable and fair consideration, the receipt and sufficiency of which is hereby acknowledged,
and intending to be legally bound, hereby agree as follows:

 

Section 1. Representations
and Warranties of RRAC and Sequoia.  RRAC and Sequoia, each as to itself and not the other, hereby represents, warrants
and agrees for the benefit of the other party that:

 

(a)           Authorization.  The
execution, delivery and performance of this Agreement by it are within its respective powers and have been duly authorized by all
necessary action on its part.

 

(b)           No
Conflict.  The execution, delivery and performance of this Agreement will not violate or conflict with (i) its charter
or bylaws, (ii) any resolution or other corporate action by it, or (iii) any decisions, statutes, ordinances, rulings, directions,
rules, regulations, orders, writs, decrees, injunctions, permits, certificates or other requirements of any court or other governmental
or public authority in any way applicable to or binding upon it, and will not result in or require the creation, except as provided
in or contemplated by this Agreement, of any lien, mortgage, pledge, security interest, charge or encumbrance of any kind upon
the Mortgage Loans.

 

(c)           Binding
Obligation.  This Agreement has been duly executed by it and is its legally valid and binding obligation, enforceable
against it in accordance with this Agreement’s terms, except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ rights generally, and by general principles of equity.

 

    	 

    	 

    

 

Section 2.   Additional
Representations, Warranties and Agreements of RRAC.

 

(a)         Title
and Mortgage Loan Schedule. RRAC represents and warrants to, and agrees with, Sequoia that (i) on the Closing Date, RRAC will
have good, valid and marketable title to the mortgage loans identified on Schedule A hereto (the “Mortgage Loans”),
in each case free and clear of all liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other
claims; (ii) upon transfer to Sequoia, Sequoia will receive good, valid and marketable title to all of the Mortgage Loans, in each
case free and clear of any liens, mortgages, deeds of trust, pledges, security interests, charges, encumbrances or other claims;
and (iii) (1) as to each Mortgage Loan that is not a Mortgage Loan originated by First Republic Bank (“First Republic”)
and purchased by RRAC from Barclays Bank PLC (an “FRB Barclays Loan”), as of the date on which RRAC purchased
such Mortgage Loan from American Pacific Mortgage Corporation (“American Pacific”), Benchmark Bank (“Benchmark”),
Boston Private Bank & Trust Company (“Boston Private”), Castle & Cooke Mortgage, LLC, (“Castle
& Cooke”), Cherry Creek Mortgage Co., Inc. (“Cherry Creek”), Cole Taylor Bank (“Cole
Taylor”), Colonial Savings, F.A. (“Colonial”), Cornerstone Mortgage Company (“Cornerstone”),
Embrace Home Loans, Inc. (“Embrace”), Evergreen Moneysource Mortgage Company dba Evergreen Home Loans (“Evergreen”),
Fairway Independent Mortgage Corporation (“Fairway”), Fidelity Bank dba Fidelity Bank Mortgage (“Fidelity”),
First Republic, Flagstar Capital Markets Corporation (“Flagstar”), Franklin American Mortgage Company (“Franklin”),
Fremont Bank (“Fremont”), GuardHill Financial Corporation (“GuardHill”), Guild Mortgage Company
(“Guild”), The Huntington National Bank (“Huntington”), Megastar Financial Corporation (“Megastar”),
Monarch Bank (“Monarch”), Paramount Equity Mortgage (“Paramount”), Plaza Home Mortgage, Incorporated
(“Plaza”), PHH Mortgage Corporation (“PHH”), PrimeLending, a PlainsCapital Company (“PrimeLending”),
Prospect Mortgage, LLC (“Prospect”), Provident Savings Bank (“Provident”), Simonich Corporation,
dba Bank of Commerce Mortgage (“Simonich”), Sterling Savings Bank (“Sterling”), Stifel Bank
and Trust (“Stifel”), Umpqua Bank (“Umpqua”), United Shore Financial Services, LLC (“United
Shore”) or Wintrust Mortgage, a division of Barrington Bank and Trust Company, N.A. (“Wintrust”),
as applicable (each, an “Originator”), and (2) as to each FRB Barclays Loan, as of the date on which Barclays
Bank PLC purchased such Mortgage Loan from First Republic, the information set forth in the Mortgage Loan Schedule in the fields
identified as “Document Type,” “Monthly Income” and “Assets Verified” is complete, true and
correct in all material respects.

 

(b)          Additional
Representations. RRAC represents and warrants to, and agrees with, Sequoia that, as of the Closing Date:

 

(i)         As
to each Mortgage Loan, the lien of the Mortgage is free and clear of all adverse claims, liens and encumbrances having priority
over the first lien of the Mortgage subject only to (1) the lien of non-delinquent current real property taxes and assessments
not yet due and payable, (2) covenants, conditions and restrictions, rights of way, easements and other matters of the public record
as of the date of recording which are acceptable to mortgage lending institutions generally and which do not adversely affect the
appraised value of the Mortgaged Property as set forth in such appraisal and (3) other matters to which like properties are commonly
subject which do not materially interfere with the benefits of the security intended to be provided by the Mortgage or the use,
enjoyment, value or marketability of the related Mortgaged Property.

 

    	2

    	 

    

 

(ii)          As
to each Mortgage Loan transferred to RRAC pursuant to the PHH Agreement, the related Mortgaged Property is located in the U.S.
or a territory of the U.S. and consists of a one- to four-unit residential property, which may include, but is not limited to,
a single-family dwelling, townhouse, condominium unit, or unit in a planned unit development or, in the case of a Cooperative Loan
(as defined in the PHH Agreement), one or more leases or occupancy agreements.

 

(iii)          To
the actual knowledge of RRAC, each Mortgage Loan constitutes a “qualified mortgage” under Section 860G(a)(3)(A) of
the Code and Treasury Regulation Section 1.860-2(a)(1).

 

(iv)          As
of the Closing Date, the most recent FICO score listed on the Mortgage Loan Schedule was no more than four months old.

 

(v)          As
to each Mortgage Loan transferred to RRAC pursuant to the PrimeLending Agreement, the Sterling Agreement or the Wintrust Agreement,
no Mortgage Loan is subject to a lost note affidavit.

 

(vi)          As
to each Mortgage Loan, with respect to any hazard or mortgage insurance covering such a Mortgage Loan and the related Mortgaged
Property, the Originator has not engaged in, and RRAC has no knowledge of the Mortgagor’s having engaged in any act or omission
that would impair the coverage of any such policy, the benefits of the endorsement, or the validity and binding effect of either,
including without limitation, no unlawful fee, commission, kickback, or other unlawful compensation or value of any kind as has
been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have
been received, retained or realized by the Originator.

 

(vii)          As
to each Mortgage Loan subject to the Flow Mortgage Loan Sale and Servicing Agreement dated as of July 1, 2010, between RRAC and
First Republic, as amended by the Assignment, Assumption and Recognition Agreement dated October 30, 2012 among RRAC, Sequoia,
the Trustee and First Republic (the “FRB Agreement”), no fraud or material error, omission, misrepresentation,
negligence or similar occurrence with respect to a Mortgage Loan has taken place on the part of the Originator, any correspondent
or mortgage broker involved in the origination of such Mortgage Loan, the Mortgagor, or any appraiser or other party involved in
the origination of the Mortgage Loan or in the application of any insurance in relation to such Mortgage Loan.

 

(viii)          As
to each Mortgage Loan subject to the FRB Agreement, the servicing of such Mortgage Loan prior to the Closing Date complied in all
material respects with all then-applicable federal, state and local laws.

 

(ix)          As
to each Mortgage Loan that is secured by a long-term residential lease (a “Lease”):

 

    	3

    	 

    

 

(A)          The
terms of the Lease expressly permit the mortgaging of the leasehold estate, the assignment of the Lease without the lessor’s
consent (or the lessor’s consent has been obtained and is in the Mortgage File), and the acquisition by the holder of the
Mortgage of the rights of the lessee upon foreclosure or assignment in lieu of foreclosure or provide the holder of the Mortgage
with substantially similar protection.

 

(B)          The
terms of the Lease do not allow the termination thereof upon the lessee’s default without the holder of the Mortgage being
entitled to receive written notice, and opportunity to cure, such default or prohibit the holder of the Mortgage from being insured
under the hazard insurance policy related to the Mortgaged Property.

 

(C)          The
original term of the Lease is not less than 15 years and the Lease does not terminate by its terms prior to at least five years
from the maturity date of the Mortgage Loan.

 

(D)          The
Mortgaged Property is located in a jurisdiction in which the use of leasehold estates for residential properties is an accepted
practice.

 

(x)          As
to each Mortgage Loan subject to the Huntington Agreement, there is no homestead or other exemption available to the Mortgagor
which would interfere with the right to sell the Mortgaged Property at a trustee’s sale or the right to foreclose on the
Mortgage.

 

(c)          Security
Interest Matters. RRAC hereby represents and warrants for the benefit of Sequoia and the Trustee (as defined in the Pooling
and Servicing Agreement, dated as of October 1, 2012 (as in effect on the date of execution hereof, the “Pooling and Servicing
Agreement”) among Sequoia, as depositor, Wells Fargo Bank, N.A., as master servicer and securities administrator, and
Christiana Trust, a division of Wilmington Savings Fund Society, FSB, as trustee) (as assignee of Sequoia):  (i) Section 5
of this Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Mortgage Loans in
favor of Sequoia, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers
from RRAC; (ii) the Mortgage Notes constitute “instruments” within the meaning of the applicable UCC; (iii) RRAC, immediately
prior to its transfer of Mortgage Loans under this Agreement, will own and have good, valid and marketable title to the Mortgage
Loans free and clear of any Lien, claim or encumbrance of any Person; (iv) RRAC has received all consents and approvals required
by the terms of the Mortgage Loans to the sale of the Mortgage Loans hereunder to Sequoia; (v) all original executed copies of
each Mortgage Note that constitute or evidence the Mortgage Loans have been delivered to the Custodian (as assignee of Sequoia);
(vi) RRAC has received a written acknowledgment from the Custodian that such Custodian is holding the Mortgage Notes that constitute
or evidence the Mortgage Loans solely on behalf and for the benefit of Sequoia or its assignee; (vii) other than the ownership
or security interest granted to Sequoia pursuant to this Agreement and security interests granted to lenders which will be automatically
released on the Closing Date, RRAC has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of
the Mortgage Loans; RRAC has not authorized the filing of and is not aware of any financing statements against it that include
a description of collateral covering the Mortgage Loans other than any financing statement relating to the ownership or security
interest granted to Sequoia hereunder or that will be automatically released upon the sale to Sequoia; (viii) RRAC is not aware
of any judgment or tax lien filing against itself; and (ix) none of the Mortgage Notes that constitute or evidence the Mortgage
Loans have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than
Sequoia.

 

    	4

    	 

    

 

(d)          Cure,
Repurchase or Substitution Obligation. In the event of a breach of any of the representations and warranties of RRAC specified
in this Section 2 that materially adversely affects the value of a Mortgage Loan or the interest therein of the Certificateholders
(as assignees of Sequoia), RRAC will cure the breach, or repurchase or substitute for such Mortgage Loan or make an indemnification
payment with respect thereto pursuant to Section 2.04 of the Pooling and Servicing Agreement and Section 3 below.

 

In the event of a breach
of any of the representations and warranties of an Originator under any of the Purchase Agreements specified on Schedule B hereto
that materially and adversely affects the value of a Mortgage Loan or the interest therein of the Certificateholders (as assignees
of Sequoia), if the applicable Originator is unable to cure, repurchase or substitute the related Mortgage Loan or make an indemnification
payment with respect thereto pursuant to the terms of the applicable Purchase Agreement because such Originator is the subject
of a Bankruptcy or insolvency proceeding or no longer in existence, then RRAC will cure the breach or repurchase or substitute
such Mortgage Loan, or make an indemnification payment with respect thereto, pursuant to Section 2.04 of the Pooling and Servicing
Agreement and Section 3 below.

 

Section 3.    Arbitration
and Representations and Warranties of RRAC with respect to the Period of Time Since Each Originator Sold Mortgage Loans.

 

(a)         RRAC
hereby covenants and agrees that, if a breach of any representation and warranty set forth in Purchase Agreements with respect
to the characteristics of a Mortgage Loan exists on the date hereof that materially and adversely affects the value of any Mortgage
Loan or the interest of Sequoia in any Mortgage Loan and such breach did not exist as of the date that RRAC purchased such Mortgage
Loan or, in the case of an FRB Barclays Loan, as of the date that Barclays Bank PLC purchased such Mortgage Loan from First Republic,
RRAC shall have a period of 60 days from the earlier of either discovery or receipt of written notice from Sequoia to RRAC of such
breach within which to correct or cure such breach. Each determination as to whether there has been such a breach shall be conducted
on a Mortgage Loan-by-Mortgage Loan basis. RRAC hereby covenants and agrees that if any breach cannot be corrected or cured within
such 60 day period, then, at RRAC’s option, RRAC shall (i) repurchase the related Mortgage Loan at the Repurchase Price,
(ii) substitute a mortgage loan for the defective Mortgage Loan in accordance with the applicable Purchase Agreement or (iii) make
an indemnification payment in an amount equal to the reduction in value of such Mortgage Loan as a result of such breach not later
than 90 days after its discovery or receipt of notice of such breach and in the case of (i) or (iii) above, by wire transfer of
immediately available funds to such account as Sequoia shall specify to RRAC.

 

    	5

    	 

    

 

(b)          RRAC
and Sequoia agree that the resolution of any controversy or claim arising out of or relating to an obligation or alleged obligation
of RRAC to repurchase a Mortgage Loan or Mortgage Loans pursuant to Section 2(d) or Section 3(a) above shall be by Arbitration
administered by the American Arbitration Association. If any such controversy or claim has not been resolved to the satisfaction
of both RRAC and Sequoia, either party may commence Arbitration to resolve the dispute; provided that a party may commence Arbitration
with respect to one or more unresolved allegations only during the months of January, April, July and October, and all matters
with respect to which Arbitration has been commenced in any such month shall be heard in a single Arbitration in the immediately
following month or as soon as practicable thereafter; and provided further that if any Arbitration arising out of or relating to
an obligation or alleged obligation of an Originator to repurchase a Mortgage Loan relating to the same representation and warranty
has commenced and is continuing, then such Arbitration shall be joined with the Arbitration commenced hereunder.

 

(c)          To
commence Arbitration, the moving party shall deliver written notice to the other party that it has elected to pursue Arbitration
in accordance with this Section 3, provided that if RRAC has not responded to Sequoia's notification of a breach of a representation
and warranty, Sequoia shall not commence Arbitration with respect to that breach before 60 days following such notification in
order to provide RRAC with an opportunity to respond to such notification. Within 10 Business Days after a party has provided notice
that it has elected to pursue Arbitration, each party may submit the names of one or more proposed Arbitrators to the other party
in writing. If the parties have not agreed on the selection of an Arbitrator within five Business Days after the first such submission,
then the party commencing Arbitration shall, within the next 5 Business Days, notify the American Arbitration Association in New
York, New York and request that it appoint a single Arbitrator with experience in arbitrating disputes arising in the financial
services industry.

 

(d)          It
is the intention of the parties that Arbitration shall be conducted in as efficient and cost-effective a manner as is reasonably
practicable, without the burden of discovery. Accordingly, the Arbitrator will resolve the dispute on the basis of a review of
the written correspondence between the parties (including any supporting materials attached to such correspondence) conveyed by
the parties to each other in connection with the dispute prior to the delivery of notice to commence Arbitration; however, upon
a showing of good cause, a party may request the Arbitrator to direct the production of such additional information, evidence and/or
documentation from the parties that the Arbitrator deems appropriate. If requested by the Arbitrator or any party, any hearing
with respect to an Arbitration shall be conducted by video conference or teleconference, except upon the agreement of both parties
or the request of the Arbitrator.

 

    	6

    	 

    

(e)          The
finding of the Arbitrator shall be final and binding upon the parties. Judgment upon any arbitration award rendered may be entered
and enforced in any court of competent jurisdiction. The costs of the Arbitrator shall be shared equally between both parties.
Each party, however, shall bear its own attorneys fees and costs in connection with the Arbitration.

 

(f)          The
following capitalized terms shall have the meaning specified below:

 

Arbitration:
Arbitration in accordance with the then governing Commercial Arbitration Rules of the American Arbitration Association (“AAA”)
and administered by the AAA, which shall be conducted in New York, New York or other place mutually acceptable to the parties to
the arbitration.

 

Arbitrator:
A person who is not affiliated with RRAC, Sequoia or any Originator, who is a member of the American Arbitration Association.

 

Repurchase Price:
With respect to any Mortgage Loan, a price equal to (i) the unpaid principal balance of such Mortgage Loan plus (ii) interest
on such unpaid principal balance at the mortgage interest rate from and including the last Due Date through which interest has
been paid by or on behalf of the Mortgagor up to the Due Date following the date of repurchase, minus (iii) amounts received in
respect of such repurchased Mortgage Loan which are being held in the Collection Account for distribution in connection with such
Mortgage Loan.

 

Section 4.              Conveyance
of Mortgage Loans.

 

(a)           Mortgage
Loans.  In return for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
RRAC, concurrently with the execution and delivery hereof, hereby sells, transfers, assigns, sets over and otherwise conveys to
Sequoia, without recourse, all of RRAC’s right, title and interest in and to the Mortgage Loans, including the related Mortgage
Documents and all principal and interest received by RRAC on or with respect to the Mortgage Loans after October 1, 2012 (the “Cut-off
Date”) (other than Scheduled Payments due on or before such date), and all such payments due after such date but received
on or prior to such date and intended by the related Mortgagors to be applied after such date, all insurance policies with respect
to the Mortgage Loans, and all proceeds of the foregoing.

 

Sequoia shall pay the
purchase price for the Mortgage Loans by delivering to RRAC on the Closing Date cash in an amount mutually agreed upon by RRAC
and Sequoia.

 

    	7

    	 

    

 

On or prior to the
Closing Date, RRAC shall deliver or cause to be delivered to Sequoia or, at Sequoia’s direction, to the Custodian, the Trustee
Mortgage File for each Mortgage Loan in the manner set forth in Article 3 of the Custodial Agreement as in effect on the date of
execution hereof, by and among Wells Fargo Bank, N.A., as custodian and master servicer, RRAC, as seller, Sequoia, as depositor,
and Christiana Trust, a division of Wilmington Savings Fund Society, FSB, as trustee.  

 

(b)           Limited
Remedies. Sequoia acknowledges and agrees that it shall have no recourse to RRAC with respect to any Defective Mortgage Loan
except as provided in Section 2(d) and Section 3 and that Sequoia’s remedies with respect to any other Defective Mortgage
Loans shall be exercised with respect to the Originator of such Defective Mortgage Loan as set forth in the applicable Purchase
Agreement.

 

Section 5.            Intention
of Parties.  The conveyance of the Mortgage Loans and all other property hereunder by RRAC as contemplated hereby
is absolute and is intended by the parties to constitute a sale of the Mortgage Loans and such other property by RRAC to Sequoia.
It is, further, not intended that such conveyance be the grant of a security interest to secure a loan or other obligation. However,
in the event that, notwithstanding the intent of the parties, the Mortgage Loans and the other property described in Section 4(a)
are held to be the property of RRAC, or if for any other reason this Agreement is held or deemed to create a security interest
in the Mortgage Loans and such other property, then this Agreement shall constitute a security agreement, and the conveyance provided
for in Section 4(a) shall be deemed to be a grant by RRAC to Sequoia of, and RRAC hereby grants to Sequoia, to secure all of RRAC’s
obligations hereunder, a security interest in all of RRAC’s right, title and interest, whether now owned or hereafter acquired,
in and to (i) the Mortgage Loans, including the Mortgage Notes, the Mortgages, and the right to all payments of principal and interest
received on or with respect to the Mortgage Loans after the Cut-off Date (other than Scheduled Payments due on or before such date),
and all such payments due after such date but received on or prior to such date and intended by the related Mortgagors to be applied
after such date, (ii) all of RRAC’s right, title and interest, if any, in and to all amounts from time to time credited to
and the proceeds of any Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans, (iii) with respect
to the Mortgage Loans, to the extent set forth in the applicable Purchase Agreement, the FRB Agreement or the Flow Mortgage Loan
Servicing Agreement, dated August 1, 2011, between RRAC and Cenlar FSB, as amended on November 3, 2011 and as further amended by
the Assignment, Assumption and Recognition Agreement, dated October 30, 2012, by and among RRAC, Sequoia, the Trustee and Cenlar
FSB (the “Cenlar Agreement”), RRAC’s rights and obligations under the applicable Purchase Agreement, the
FRB Agreement or the Cenlar Agreement, (iv) all of RRAC’s right, title and
interest, if any, in REO Property and the proceeds thereof, (v) all of RRAC’s rights under any Insurance Policies related
to the Mortgage Loans, (vi) RRAC’s security interest in any collateral pledged to secure the Mortgage Loans, including the
Mortgaged Properties, and (vii) all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or
other liquid assets, including, without limitation, all Insurance Proceeds, Liquidation Proceeds and condemnation awards.

 

    	8

    	 

    

 

RRAC and Sequoia shall,
to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed
to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest
of first priority under applicable law and will be maintained as such throughout the term of this Agreement.  RRAC shall
arrange for filing any Uniform Commercial Code financing statements and continuation statements in connection with such security
interest.

 

Section 6.         Termination.

Notwithstanding any
termination of this Agreement or the completion of all sales contemplated hereby, the representations, warranties and agreements
in Sections 1 and 2 hereof shall survive and remain in full force and effect.

 

Section 7.         Miscellaneous.

 

(a)           Amendments,
Etc.  No rescission, modification, amendment, supplement or change of this Agreement shall be valid or effective
unless in writing and signed by all of the parties to this Agreement.  No amendment of this Agreement may modify or waive
the representations, warranties and agreements set forth in Sections 1 and 2 hereof.

 

(b)           Binding
Upon Successors, Etc.  This Agreement shall bind and inure to the benefit of and be enforceable by RRAC and Sequoia,
and the respective successors and assigns thereof.  The parties hereto acknowledge that Sequoia is acquiring the Mortgage
Loans for the purpose of selling, transferring, assigning, setting over and otherwise conveying them to the Trustee, pursuant to
the Pooling and Servicing Agreement.  RRAC acknowledges and consents to the assignment to the Trustee by Sequoia of all
of Sequoia's rights against RRAC hereunder in respect of the Mortgage Loans sold to Sequoia and that the enforcement or exercise
of any right or remedy against RRAC hereunder by the Trustee or to the extent permitted under Section 2.04 of the Pooling and Servicing
Agreement shall have the same force and effect as if enforced and exercised by Sequoia directly.

 

(c)           Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.

 

(d)           Governing
Law.  This Agreement and all questions relating to its validity, interpretation, performance and enforcement shall
be governed by and construed, interpreted and enforced in accordance with the laws of the State of New York notwithstanding any
law, rule, regulation, or other conflict-of-law provisions to the contrary.

 

    	9

    	 

    

 

(e)           Headings.  The
headings of the several parts of this Agreement are inserted for convenience of reference and are not intended to be a part of
or affect the meaning or interpretation of this Agreement.

 

(f)           Definitions.  Capitalized
terms not otherwise defined herein have the meanings ascribed to such terms (i) in the Pooling and Servicing Agreement as
in effect on the date of execution hereof or (ii) in Schedule B hereto.

 

(g)           Nonpetition
Covenant.  Until one year plus one day shall have elapsed since the termination of the Pooling and Servicing Agreement
in accordance with its terms, RRAC shall not petition or otherwise invoke the process of any court or government authority for
the purpose of commencing or sustaining a case against Sequoia under any federal or state bankruptcy, insolvency or similar law
or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of Sequoia or any substantial
part of its property, or ordering the winding up or liquidation of the affairs of Sequoia.

 

[remainder of page intentionally left blank]

  

    	10

    	 

    

 

IN WITNESS WHEREOF,
each party has caused this Mortgage Loan Purchase and Sale Agreement to be executed by its duly authorized officer or officers
as of the day and year first above written.

 

	 	REDWOOD RESIDENTIAL ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	SEQUOIA RESIDENTIAL FUNDING, INC.
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	 

    	 

    

 

SCHEDULE A

MORTGAGE LOAN SCHEDULE 

 

    	 

    	 

    

 

SCHEDULE B

CERTAIN ORIGINATOR PURCHASE AGREEMENTS

 

1. American Pacific Mortgage Corporation

Flow Mortgage Loan Purchase and Sale Agreement
dated as of October 1, 2011, between RRAC and American Pacific, as amended by the Assignment of Representations and Warranties
Agreement, dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and American Pacific (the “American Pacific
Agreement”).

 

2. Benchmark Bank

Flow Mortgage Loan Purchase and Sale Agreement
dated as of September 1, 2011, between RRAC and Benchmark, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Benchmark (the “Benchmark Agreement”).

 

3. Boston Private Bank & Trust Company

Flow Mortgage Loan Purchase and Sale Agreement
dated as of April 1, 2012, between RRAC and Boston Private , as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Boston Private (the “Boston Private Agreement”).

 

4. Castle & Cooke Mortgage, LLC

Flow Mortgage Loan Purchase and Sale Agreement
dated as of November 1, 2011, between RRAC and Castle & Cooke, as amended by the Assignment of Representations and Warranties
Agreement, dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Castle & Cooke (the “Castle &
Cooke Agreement”).

 

5. Cherry Creek Mortgage Co., Inc.

Flow Mortgage Loan Purchase and Sale Agreement
dated as of October 1, 2011, between RRAC and Cherry Creek, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Cherry Creek (the “Cherry Creek Agreement”).

 

6. Cole Taylor Bank

Flow Mortgage Loan Purchase and Sale Agreement
dated as of August 1, 2011, between RRAC and Cole Taylor, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Cole Taylor (the “Cole Taylor Agreement”).

 

7. Colonial Savings, F.A.

Flow Mortgage Loan Purchase and Sale Agreement
dated as of February 1, 2012, between RRAC and Colonial, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Colonial (the “Colonial Agreement”).

 

    	 

    	 

    

 

8. Cornerstone Mortgage Company

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of September 1, 2011, between RRAC and Cornerstone, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Cornerstone (the “Cornerstone Agreement”).

 

9. Embrace Home Loans, Inc.

Flow Mortgage Loan Purchase and Sale Agreement
dated as of December 1, 2011, between RRAC and Embrace, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Embrace (the “Embrace Agreement”).

 

10. Evergreen Moneysource Mortgage Company
dba Evergreen Home Loans

Flow Mortgage Loan Purchase and Sale Agreement
dated as of April 1, 2012, between RRAC and Evergreen, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Evergreen (the “Evergreen Agreement”).

 

11. Fairway Independent Mortgage Corporation

Flow Mortgage Loan Purchase and Sale Agreement
dated as of April 1, 2012, between RRAC and Fairway, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Fairway (the “Fairway Agreement”).

 

12. Fidelity Bank dba Fidelity Bank Mortgage

Flow Mortgage Loan Purchase and Sale Agreement
dated as of March 1, 2012, between RRAC and Fidelity, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Fidelity (the “Fidelity Agreement”).

 

13. Flagstar Capital Markets Corporation

Flow Mortgage Loan Purchase and Sale Agreement
dated as of May 23, 2011, between RRAC and Flagstar, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Flagstar (the “Flagstar Agreement”).

 

14. Franklin American Mortgage Company

Flow Mortgage Loan Purchase and Sale Agreement
dated as of August 1, 2011, between RRAC and Franklin, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Franklin (the “Franklin Agreement”).

 

15. Fremont Bank

Flow Mortgage Loan Purchase and Sale Agreement
dated as of August 1, 2011, between RRAC and Flagstar, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Fremont (the “Fremont Agreement”).

 

    	 

    	 

    

 

16. GuardHill Financial Corporation

Flow Mortgage Loan Purchase and Sale Agreement
dated as of October 1, 2011, between RRAC and GuardHill, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and GuardHill (the “GuardHill Agreement”).

 

17. Guild Mortgage Company

Flow Mortgage Loan Purchase and Sale Agreement
dated as of January 1, 2012, between RRAC and Guild, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Guild (the “Guild Agreement”).

 

18. The Huntington National Bank

Flow Mortgage Loan Purchase and Sale Agreement
dated as of December 1, 2011, between RRAC and Huntington, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Huntington (the “Huntington Agreement”).

 

19. Megastar Financial Corporation

Flow Mortgage Loan Purchase and Sale Agreement
dated as of January 1, 2012, between RRAC and Megastar, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Megastar (the “Megastar Agreement”).

 

20. Monarch Bank

Flow Mortgage Loan Purchase and Sale Agreement
dated as of February 1, 2012, between RRAC and Monarch, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Monarch (the “Monarch Agreement”).

 

21. PHH Mortgage Corporation

Mortgage Loan Flow Purchase, Sale &
Servicing Agreement, dated as of July 21, 2010, between RRAC and PHH, as amended by the Assignment, Assumption and Recognition
Agreement, dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and PHH (the “PHH Agreement”).

 

22. Paramount Equity Mortgage

Mortgage Loan Flow Purchase and Sale Agreement,
dated as of May 1, 2012, between RRAC and Paramount, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Paramount (the “Paramount Agreement”).

 

    	 

    	 

    

 

23. Plaza Home Mortgage, Incorporated

Mortgage Loan Flow Purchase, Sale &
Servicing Agreement, dated as of December 1, 2011, between RRAC and Plaza, as amended by the Assignment, Assumption and Recognition
Agreement, dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Plaza (the “Plaza Agreement”).

 

24. PrimeLending, a PlainsCapital Company

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of January 30, 2011, between RRAC and Primelending, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and PrimeLending (the “PrimeLending Agreement”).

 

25. Prospect Mortgage, LLC

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of May 1, 2011, between RRAC and Prospect, as amended by the Assignment of Representations and Warranties Agreement, dated
October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Prospect (the “Prospect Agreement”).

 

26. Provident Savings Bank

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of October 1, 2011, between RRAC and Provident, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Provident(the “Provident Agreement”).

 

27. Simonich Corporation, dba Bank of Commerce
Mortgage

Flow Mortgage Loan Purchase and Sale Agreement
dated as of August 1, 2011, between RRAC and Simonich, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Simonich (the “Simonich Agreement”).

 

28. Sterling Savings Bank

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of March 1, 2011, between RRAC and Sterling, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Sterling (the “Sterling Agreement”).

 

29. Stifel Bank and Trust

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of December 1, 2011, between RRAC and Stifel, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Stifel (the “Stifel Agreement”).

 

30. Umpqua Bank

Flow Mortgage Loan Purchase and Sale Agreement,
dated as of January 1, 2012, between RRAC and Umpqua, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Umpqua (the “Umpqua Agreement”).

 

    	 

    	 

    

 

31. United Shore Financial Services, LLC

Flow Mortgage Loan Purchase and Sale Agreement
dated as of December 1, 2011, between RRAC and United Shore, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and United Shore (the “United Shore Agreement”).

 

32. Wintrust Mortgage, a division of Barrington
Bank and Trust Company, N.A.

Flow Mortgage Loan Purchase and Sale Agreement
dated as of June 1, 2011, between RRAC and Wintrust, as amended by the Assignment of Representations and Warranties Agreement,
dated October 30, 2012, by and among RRAC, Sequoia, the Trustee, and Wintrust (the “Wintrust Agreement” and,
together with the American Pacific Agreement, the Benchmark Agreement, the Boston Private Agreement, the Castle & Cooke Agreement,
the Cherry Creek Agreement, the Cole Taylor Agreement, the Colonial Agreement, the Cornerstone Agreement, the Embrace Agreement,
the Evergreen Agreement, the Fairway Agreement, the Fidelity Agreement, the Flagstar Agreement, the Franklin Agreement, the Fremont
Agreement, the GuardHill Agreement, the Guild Agreement, the Huntington Agreement, the Megastar Agreement, the Monarch Agreement,
the PHH Agreement, the Paramount Agreement, the Plaza Agreement, the PrimeLending Agreement, the Prospect Agreement, the Provident
Agreement, the Simonich Agreement, the Sterling Agreement, the Stifel Agreement, the Umpqua Agreement and the United Shore Agreement,
the “Purchase Agreements” and each a “Purchase Agreement”).

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